Burlington USDA Loans

BURLINGTON, NC

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    • 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%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    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.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    DHI MORTGAGE COMPANY, LTD. 9 2.80% $5,199
    UNION HOME MORTGAGE CORP. 9 2.69% $5,590
    MOVEMENT MORTGAGE, LLC 7 2.79% $5,492
    CALIBER HOME LOANS, INC. 5 3.63% $5,577
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 2.97% $7,732
    The Fidelity Bank 3 3.04% $5,995
    Ameris Bank 3 3.13% $5,945
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 3.21% $8,907
    GoPrime Mortgage, Inc. 3 3.08% $6,935
    Victorian Finance, LLC 2 2.56% $6,324
    First-Citizens Bank & Trust Company 2 2.56% $5,121
    NTFN, INC. 2 2.81% $3,701
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 2.63% $5,422
    Citizens Bank 1 2.88% $4,840
    EMBRACE HOME LOANS, INC. 1 3.75% $4,692
    EQUITY RESOURCES, INC. 1 2.38% $5,043
    Carrington Mortgage Services, LLC 1 3.13% $3,868
    United Community Bank 1 2.88% $4,862
    CALCON MUTUAL MORTGAGE LLC 1 2.75% $9,048
    LOANDEPOT.COM, LLC 1 3.00% $5,527
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 3.25% $2,901
    Nations Lending Corporation 1 3.25% $5,549
    North State Bank 1 3.38% $5,773
    American National Bank and Trust Company 1 2.25% $4,049
    PENNYMAC LOAN SERVICES, LLC 1 2.88% $4,101
    Prosperity Home Mortgage, LLC 1 2.88% $5,508
    RELIANCE FIRST CAPITAL, LLC 1 3.25% $5,557
    Shamrock Home Loans, Inc. 1 3.00% $6,401
    SOUTHERN TRUST MORTGAGE, LLC 1 2.75% $6,449
    The Federal Savings Bank 1 2.25% $3,893
    ANGEL OAK HOME LOANS LLC 1 3.00% $5,194
    TOWNE MORTGAGE COMPANY 1 3.63% $3,791
    American Security Mortgage Corp. 1 2.75% $5,652
    Colten Mortgage, LLC 1 3.00% $3,889
    CORNERSTONE HOME LENDING, INC. 1 3.25% $6,027
    CROSSCOUNTRY MORTGAGE, LLC 1 2.99% $7,641

    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. Louis
    Date 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 for 2022-04-01 was $360,000, a difference of $68,752 (23.6%) versus the prior year and $10,050 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2022-04-01 was 13 days. This is -55% shorter than the same period one year ago.

    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.