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%.

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.