Burlington USDA Loans
BURLINGTON, NC
USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.
Burlington's 36 lenders originated 78 USDA loans during 2021. The total origination value was $16,120,000, with an average USDA loan value of $206,667.
Burlington USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Burlington
averaged
5.6%
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was
5.53% and
one month ago for the week of 2022-04-08, the
average rate was 5.09%.
The average rate one year ago was 3.01%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.16%.
Burlington USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Burlington level.
The top Burlington USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with
9 USDA loans originated. Their average total fees are
$5,199, which is $390
lower than the next largest lender,
UNION HOME MORTGAGE CORP..
The lowest fee Burlington USDA lenders (with over 10 loans originated) are
.
The lowest rate Burlington USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Burlington (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $217,450 (17.6%) | $278,392 (26.4%) | 0.80 | 951 |
2018-02-01 | $217,500 (16.0%) | $279,244 (24.3%) | 0.78 | 885 |
2018-03-01 | $227,499 (16.5%) | $279,454 (19.8%) | 0.79 | 841 |
2018-04-01 | $228,289 (14.2%) | $260,118 (7.7%) | 0.77 | 783 |
2018-05-01 | $237,900 (17.1%) | $271,050 (-5.0%) | 0.79 | 791 |
2018-06-01 | $232,500 (18.6%) | $276,416 (-1.0%) | 0.78 | 798 |
2018-07-01 | $235,680 (18.7%) | $277,250 (0.0%) | 0.79 | 809 |
2018-08-01 | $236,400 (18.2%) | $268,635 (-0.4%) | 0.79 | 793 |
2018-09-01 | $245,000 (19.5%) | $273,362 (1.3%) | 0.82 | 759 |
2018-10-01 | $240,500 (19.7%) | $269,188 (0.4%) | 0.80 | 844 |
2018-11-01 | $240,975 (12.1%) | $271,278 (-0.3%) | 0.81 | 805 |
2018-12-01 | $246,330 (14.6%) | $274,567 (1.7%) | 0.84 | 746 |
2019-01-01 | $240,155 (10.4%) | $268,041 (-3.7%) | 0.83 | 715 |
2019-02-01 | $252,293 (16.0%) | $284,499 (1.9%) | 0.85 | 666 |
2019-03-01 | $259,900 (14.2%) | $291,620 (4.4%) | 0.85 | 630 |
2019-04-01 | $259,900 (13.9%) | $293,568 (12.9%) | 0.82 | 582 |
2019-05-01 | $257,450 (8.2%) | $291,247 (7.5%) | 0.79 | 610 |
2019-06-01 | $255,000 (9.7%) | $294,368 (6.5%) | 0.78 | 591 |
2019-07-01 | $252,450 (7.1%) | $306,758 (10.6%) | 0.78 | 601 |
2019-08-01 | $247,386 (4.7%) | $302,064 (12.4%) | 0.78 | 596 |
2019-09-01 | $242,785 (-0.9%) | $291,158 (6.5%) | 0.77 | 603 |
2019-10-01 | $243,950 (1.4%) | $290,197 (7.8%) | 0.78 | 637 |
2019-11-01 | $239,900 (-0.5%) | $284,915 (5.0%) | 0.77 | 623 |
2019-12-01 | $235,000 (-4.6%) | $282,712 (3.0%) | 0.78 | 601 |
2020-01-01 | $245,035 (2.0%) | $287,379 (7.2%) | 0.82 | 559 |
2020-02-01 | $250,000 (-0.9%) | $300,921 (5.8%) | 0.81 | 511 |
2020-03-01 | $261,490 (0.6%) | $305,490 (4.8%) | 0.82 | 499 |
2020-04-01 | $267,240 (2.8%) | $322,181 (9.8%) | 0.83 | 528 |
2020-05-01 | $276,465 (7.4%) | $349,744 (20.1%) | 0.84 | 461 |
2020-06-01 | $281,400 (10.4%) | $349,996 (18.9%) | 0.82 | 413 |
2020-07-01 | $280,450 (11.1%) | $328,898 (7.2%) | 0.80 | 382 |
2020-08-01 | $286,900 (16.0%) | $345,244 (14.3%) | 0.82 | 344 |
2020-09-01 | $292,935 (20.7%) | $347,190 (19.2%) | 0.84 | 353 |
2020-10-01 | $275,000 (12.7%) | $340,447 (17.3%) | 0.79 | 330 |
2020-11-01 | $294,189 (22.6%) | $349,572 (22.7%) | 0.84 | 305 |
2020-12-01 | $299,000 (27.2%) | $363,719 (28.7%) | 0.88 | 258 |
2021-01-01 | $289,000 (17.9%) | $376,441 (31.0%) | 0.85 | 220 |
2021-02-01 | $259,945 (4.0%) | $368,669 (22.5%) | 0.75 | 217 |
2021-03-01 | $275,000 (5.2%) | $387,950 (27.0%) | 0.77 | 180 |
2021-04-01 | $291,248 (9.0%) | $407,939 (26.6%) | 0.78 | 157 |
2021-05-01 | $270,000 (-2.3%) | $385,619 (10.3%) | 0.71 | 180 |
2021-06-01 | $274,750 (-2.4%) | $410,114 (17.2%) | 0.71 | 191 |
2021-07-01 | $297,000 (5.9%) | $404,461 (23.0%) | 0.77 | 217 |
2021-08-01 | $289,990 (1.1%) | $379,190 (9.8%) | 0.76 | 267 |
2021-09-01 | $294,250 (0.5%) | $374,147 (7.8%) | 0.77 | 291 |
2021-10-01 | $290,000 (5.5%) | $347,649 (2.1%) | 0.76 | 274 |
2021-11-01 | $283,750 (-3.6%) | $337,258 (-3.5%) | 0.75 | 304 |
2021-12-01 | $295,000 (-1.3%) | $353,499 (-2.8%) | 0.79 | 272 |
2022-01-01 | $325,000 (12.5%) | $377,748 (0.4%) | 0.87 | 198 |
2022-02-01 | $314,253 (20.9%) | $377,096 (2.3%) | 0.80 | 146 |
2022-03-01 | $349,950 (27.3%) | $407,137 (5.0%) | 0.86 | 144 |
2022-04-01 | $360,000 (23.6%) | $408,262 (0.1%) | 0.85 | 158 |
Burlington's median listing price comes in at 85% of the national average.
Burlington's average listing price for 2022-04-01 was $408,262, a difference of $323 (0.1%) versus the prior year and $1,125 versus the prior month.
For the 2022-04-01 period, Burlington had 158 MLS listings, a difference of 14 listings (10%) versus the prior month and 1 listings (1%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Burlington (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 113 days | 2,021 sqft |
2018-02-01 | 107 days | 2,011 sqft |
2018-03-01 | 77 days | 2,045 sqft |
2018-04-01 | 63 days | 2,055 sqft |
2018-05-01 | 66 days | 2,074 sqft |
2018-06-01 | 58 days | 2,048 sqft |
2018-07-01 | 66 days | 2,043 sqft |
2018-08-01 | 64 days | 2,067 sqft |
2018-09-01 | 67 days | 2,131 sqft |
2018-10-01 | 61 days | 2,098 sqft |
2018-11-01 | 73 days | 2,060 sqft |
2018-12-01 | 75 days | 2,069 sqft |
2019-01-01 | 90 days | 2,067 sqft |
2019-02-01 | 98 days | 2,192 sqft |
2019-03-01 | 67 days | 2,214 sqft |
2019-04-01 | 57 days | 2,195 sqft |
2019-05-01 | 42 days | 2,196 sqft |
2019-06-01 | 47 days | 2,217 sqft |
2019-07-01 | 50 days | 2,140 sqft |
2019-08-01 | 51 days | 2,045 sqft |
2019-09-01 | 50 days | 1,977 sqft |
2019-10-01 | 50 days | 1,970 sqft |
2019-11-01 | 46 days | 1,979 sqft |
2019-12-01 | 59 days | 1,942 sqft |
2020-01-01 | 74 days | 1,963 sqft |
2020-02-01 | 65 days | 2,008 sqft |
2020-03-01 | 48 days | 2,054 sqft |
2020-04-01 | 45 days | 2,099 sqft |
2020-05-01 | 51 days | 2,231 sqft |
2020-06-01 | 51 days | 2,261 sqft |
2020-07-01 | 35 days | 2,226 sqft |
2020-08-01 | 44 days | 2,180 sqft |
2020-09-01 | 34 days | 2,279 sqft |
2020-10-01 | 30 days | 2,102 sqft |
2020-11-01 | 32 days | 2,090 sqft |
2020-12-01 | 43 days | 2,133 sqft |
2021-01-01 | 39 days | 1,929 sqft |
2021-02-01 | 22 days | 1,875 sqft |
2021-03-01 | 23 days | 1,939 sqft |
2021-04-01 | 29 days | 2,024 sqft |
2021-05-01 | 16 days | 1,874 sqft |
2021-06-01 | 18 days | 1,918 sqft |
2021-07-01 | 19 days | 1,909 sqft |
2021-08-01 | 20 days | 1,878 sqft |
2021-09-01 | 22 days | 1,934 sqft |
2021-10-01 | 29 days | 1,887 sqft |
2021-11-01 | 22 days | 1,855 sqft |
2021-12-01 | 35 days | 1,921 sqft |
2022-01-01 | 45 days | 1,918 sqft |
2022-02-01 | 35 days | 1,955 sqft |
2022-03-01 | 19 days | 2,058 sqft |
2022-04-01 | 13 days | 2,026 sqft |
Burlington's median square footage for active listings during the 2022-04-01 period was 2,026 sqft. One year prior, the average listing was 2,024 sqft.