Burlington USDA Loan Rates, Closing Costs & Stats
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 9 lenders originated 14 USDA loans during 2023. The total origination value was $3,610,000, with an average USDA loan value of $257,857.
Burlington USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Burlington
averaged
6.52%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Burlington's average USDA mortgage closing costs are $5,605.
The average rate for the prior week (2024-04-12) was
6.37% and
one month ago for the week of 2024-03-15, the
average rate was 6.16%.
The average rate one year ago was 5.9%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.06%.
Burlington USDA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Burlington level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| DHI MORTGAGE COMPANY, LTD. | 3 | 5.16% | $5,907 |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | 3 | 6.38% | $11,050 |
| MOVEMENT MORTGAGE, LLC | 2 | 6.50% | $9,573 |
| LOANDEPOT.COM, LLC | 1 | 4.88% | $9,369 |
| MUTUAL OF OMAHA MORTGAGE, INC. | 1 | 6.63% | $9,900 |
| Alcova Mortgage LLC | 1 | 6.88% | $6,212 |
| Victorian Finance, LLC | 1 | 6.38% | $7,010 |
| Equity Prime Mortgage LLC | 1 | 6.75% | $11,668 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.25% | $6,206 |
The top Burlington USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with
3 USDA loans originated. Their average total fees are
$5,907, which is $5,144
lower than the next largest lender,
ATLANTIC BAY MORTGAGE GROUP, L.L.C..
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 | $197,500 (14.7%) | $267,574 (28.2%) | 0.73 | 634 |
| 2018-02-01 | $199,250 (16.8%) | $268,902 (25.6%) | 0.72 | 598 |
| 2018-03-01 | $215,500 (18.9%) | $274,678 (22.7%) | 0.76 | 540 |
| 2018-04-01 | $216,175 (23.5%) | $252,793 (10.5%) | 0.73 | 486 |
| 2018-05-01 | $221,748 (23.7%) | $266,684 (0.6%) | 0.74 | 501 |
| 2018-06-01 | $222,655 (25.8%) | $272,335 (3.1%) | 0.74 | 480 |
| 2018-07-01 | $221,575 (24.2%) | $272,470 (3.2%) | 0.74 | 477 |
| 2018-08-01 | $217,925 (23.5%) | $254,470 (-0.6%) | 0.73 | 451 |
| 2018-09-01 | $229,000 (28.7%) | $256,905 (2.4%) | 0.77 | 446 |
| 2018-10-01 | $225,000 (23.6%) | $253,884 (1.4%) | 0.76 | 493 |
| 2018-11-01 | $229,500 (21.5%) | $262,146 (2.5%) | 0.78 | 474 |
| 2018-12-01 | $231,900 (22.3%) | $262,441 (3.0%) | 0.80 | 456 |
| 2019-01-01 | $233,925 (18.4%) | $259,803 (-2.9%) | 0.81 | 433 |
| 2019-02-01 | $244,329 (22.6%) | $271,097 (0.8%) | 0.83 | 406 |
| 2019-03-01 | $250,243 (16.1%) | $274,603 (0.0%) | 0.82 | 382 |
| 2019-04-01 | $253,118 (17.1%) | $275,421 (9.0%) | 0.80 | 357 |
| 2019-05-01 | $255,000 (15.0%) | $283,267 (6.2%) | 0.80 | 363 |
| 2019-06-01 | $255,000 (14.5%) | $285,900 (5.0%) | 0.80 | 343 |
| 2019-07-01 | $249,950 (12.8%) | $295,737 (8.5%) | 0.78 | 353 |
| 2019-08-01 | $246,518 (13.1%) | $293,303 (15.3%) | 0.78 | 357 |
| 2019-09-01 | $241,445 (5.4%) | $289,308 (12.6%) | 0.77 | 364 |
| 2019-10-01 | $239,264 (6.3%) | $287,913 (13.4%) | 0.77 | 357 |
| 2019-11-01 | $237,000 (3.3%) | $281,200 (7.3%) | 0.78 | 329 |
| 2019-12-01 | $233,542 (0.7%) | $279,524 (6.5%) | 0.78 | 314 |
| 2020-01-01 | $245,788 (5.1%) | $294,124 (13.2%) | 0.82 | 314 |
| 2020-02-01 | $249,900 (2.3%) | $312,352 (15.2%) | 0.82 | 291 |
| 2020-03-01 | $250,576 (0.1%) | $308,957 (12.5%) | 0.79 | 305 |
| 2020-04-01 | $261,064 (3.1%) | $320,947 (16.5%) | 0.82 | 330 |
| 2020-05-01 | $270,000 (5.9%) | $345,684 (22.0%) | 0.82 | 273 |
| 2020-06-01 | $286,140 (12.2%) | $362,906 (26.9%) | 0.84 | 234 |
| 2020-07-01 | $280,945 (12.4%) | $324,628 (9.8%) | 0.81 | 227 |
| 2020-08-01 | $289,220 (17.3%) | $345,568 (17.8%) | 0.83 | 214 |
| 2020-09-01 | $297,570 (23.3%) | $335,360 (15.9%) | 0.85 | 211 |
| 2020-10-01 | $276,225 (15.5%) | $328,358 (14.1%) | 0.79 | 212 |
| 2020-11-01 | $287,500 (21.3%) | $344,011 (22.3%) | 0.84 | 193 |
| 2020-12-01 | $289,585 (24.0%) | $343,363 (22.8%) | 0.86 | 176 |
| 2021-01-01 | $284,500 (15.8%) | $344,767 (17.2%) | 0.85 | 155 |
| 2021-02-01 | $270,250 (8.1%) | $337,715 (8.1%) | 0.79 | 149 |
| 2021-03-01 | $284,975 (13.7%) | $358,104 (15.9%) | 0.81 | 128 |
| 2021-04-01 | $299,700 (14.8%) | $385,066 (20.0%) | 0.81 | 104 |
| 2021-05-01 | $284,950 (5.5%) | $364,931 (5.6%) | 0.76 | 125 |
| 2021-06-01 | $274,618 (-4.0%) | $386,116 (6.4%) | 0.72 | 128 |
| 2021-07-01 | $286,000 (1.8%) | $379,752 (17.0%) | 0.75 | 152 |
| 2021-08-01 | $289,945 (0.3%) | $365,305 (5.7%) | 0.77 | 169 |
| 2021-09-01 | $292,500 (-1.7%) | $372,031 (10.9%) | 0.78 | 190 |
| 2021-10-01 | $290,000 (5.0%) | $357,272 (8.8%) | 0.77 | 174 |
| 2021-11-01 | $290,870 (1.2%) | $350,304 (1.8%) | 0.78 | 190 |
| 2021-12-01 | $315,130 (8.8%) | $368,412 (7.3%) | 0.85 | 170 |
| 2022-01-01 | $339,425 (19.3%) | $378,912 (9.9%) | 0.92 | 133 |
| 2022-02-01 | $323,422 (19.7%) | $380,405 (12.6%) | 0.84 | 104 |
| 2022-03-01 | $352,878 (23.8%) | $407,994 (13.9%) | 0.88 | 98 |
| 2022-04-01 | $374,108 (24.8%) | $413,374 (7.4%) | 0.89 | 105 |
| 2022-05-01 | $365,000 (28.1%) | $396,363 (8.6%) | 0.83 | 125 |
| 2022-06-01 | $383,500 (39.7%) | $435,294 (12.7%) | 0.85 | 177 |
| 2022-07-01 | $385,000 (34.6%) | $437,031 (15.1%) | 0.87 | 214 |
| 2022-08-01 | $362,498 (25.0%) | $383,239 (4.9%) | 0.84 | 241 |
| 2022-09-01 | $355,070 (21.4%) | $379,938 (2.1%) | 0.83 | 234 |
| 2022-10-01 | $362,450 (25.0%) | $381,878 (6.9%) | 0.85 | 239 |
| 2022-11-01 | $367,995 (26.5%) | $385,791 (10.1%) | 0.88 | 284 |
| 2022-12-01 | $353,470 (12.2%) | $371,379 (0.8%) | 0.87 | 293 |
| 2023-01-01 | $362,300 (6.7%) | $375,335 (-0.9%) | 0.90 | 298 |
| 2023-02-01 | $359,975 (11.3%) | $381,682 (0.3%) | 0.87 | 272 |
| 2023-03-01 | $367,500 (4.1%) | $383,071 (-6.1%) | 0.87 | 244 |
| 2023-04-01 | $365,000 (-2.4%) | $391,687 (-5.3%) | 0.85 | 260 |
| 2023-05-01 | $363,585 (-0.4%) | $388,100 (-2.1%) | 0.82 | 275 |
| 2023-06-01 | $365,500 (-4.7%) | $396,030 (-9.0%) | 0.82 | 296 |
| 2023-07-01 | $359,900 (-6.5%) | $394,348 (-9.8%) | 0.82 | 296 |
| 2023-08-01 | $360,481 (-0.6%) | $394,264 (2.9%) | 0.83 | 304 |
| 2023-09-01 | $359,240 (1.2%) | $383,825 (1.0%) | 0.84 | 343 |
| 2023-10-01 | $352,535 (-2.7%) | $383,397 (0.4%) | 0.83 | 355 |
| 2023-11-01 | $355,764 (-3.3%) | $381,399 (-1.1%) | 0.85 | 375 |
| 2023-12-01 | $344,990 (-2.4%) | $382,328 (3.0%) | 0.84 | 431 |
| 2024-01-01 | $339,968 (-6.2%) | $371,973 (-0.9%) | 0.83 | 381 |
| 2024-02-01 | $336,000 (-6.7%) | $369,464 (-3.2%) | 0.81 | 364 |
| 2024-03-01 | $331,495 (-9.8%) | $366,828 (-4.2%) | 0.78 | 335 |
Burlington's median listing price comes in at 78% of the national average.
Burlington's average listing price for 2024-03-01 was $366,828, a difference of $-16,243 (-4.2%) versus the prior year and $-2,636 versus the prior month.
For the 2024-03-01 period, Burlington had 335 MLS listings, a difference of -29 listings (-8%) versus the prior month and 91 listings (37%) 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 | 105 days | 1,972 sqft |
| 2018-02-01 | 95 days | 1,924 sqft |
| 2018-03-01 | 68 days | 1,943 sqft |
| 2018-04-01 | 63 days | 1,963 sqft |
| 2018-05-01 | 60 days | 1,956 sqft |
| 2018-06-01 | 54 days | 1,981 sqft |
| 2018-07-01 | 70 days | 1,933 sqft |
| 2018-08-01 | 67 days | 1,933 sqft |
| 2018-09-01 | 68 days | 1,951 sqft |
| 2018-10-01 | 63 days | 1,940 sqft |
| 2018-11-01 | 71 days | 1,955 sqft |
| 2018-12-01 | 74 days | 1,936 sqft |
| 2019-01-01 | 87 days | 2,002 sqft |
| 2019-02-01 | 91 days | 2,095 sqft |
| 2019-03-01 | 71 days | 2,133 sqft |
| 2019-04-01 | 64 days | 2,134 sqft |
| 2019-05-01 | 43 days | 2,173 sqft |
| 2019-06-01 | 48 days | 2,193 sqft |
| 2019-07-01 | 53 days | 2,067 sqft |
| 2019-08-01 | 51 days | 2,006 sqft |
| 2019-09-01 | 52 days | 1,964 sqft |
| 2019-10-01 | 54 days | 1,942 sqft |
| 2019-11-01 | 48 days | 1,975 sqft |
| 2019-12-01 | 59 days | 1,926 sqft |
| 2020-01-01 | 66 days | 1,954 sqft |
| 2020-02-01 | 54 days | 1,998 sqft |
| 2020-03-01 | 43 days | 2,020 sqft |
| 2020-04-01 | 42 days | 2,065 sqft |
| 2020-05-01 | 58 days | 2,117 sqft |
| 2020-06-01 | 57 days | 2,210 sqft |
| 2020-07-01 | 38 days | 2,137 sqft |
| 2020-08-01 | 40 days | 2,115 sqft |
| 2020-09-01 | 32 days | 2,155 sqft |
| 2020-10-01 | 31 days | 2,051 sqft |
| 2020-11-01 | 41 days | 2,045 sqft |
| 2020-12-01 | 58 days | 2,075 sqft |
| 2021-01-01 | 60 days | 1,929 sqft |
| 2021-02-01 | 29 days | 1,875 sqft |
| 2021-03-01 | 27 days | 1,934 sqft |
| 2021-04-01 | 25 days | 1,944 sqft |
| 2021-05-01 | 16 days | 1,801 sqft |
| 2021-06-01 | 21 days | 1,874 sqft |
| 2021-07-01 | 23 days | 1,874 sqft |
| 2021-08-01 | 21 days | 1,876 sqft |
| 2021-09-01 | 30 days | 1,948 sqft |
| 2021-10-01 | 33 days | 1,858 sqft |
| 2021-11-01 | 28 days | 1,881 sqft |
| 2021-12-01 | 37 days | 2,002 sqft |
| 2022-01-01 | 46 days | 2,026 sqft |
| 2022-02-01 | 37 days | 1,932 sqft |
| 2022-03-01 | 25 days | 1,997 sqft |
| 2022-04-01 | 13 days | 2,026 sqft |
| 2022-05-01 | 19 days | 1,968 sqft |
| 2022-06-01 | 19 days | 2,121 sqft |
| 2022-07-01 | 28 days | 2,175 sqft |
| 2022-08-01 | 30 days | 2,063 sqft |
| 2022-09-01 | 39 days | 2,038 sqft |
| 2022-10-01 | 43 days | 2,057 sqft |
| 2022-11-01 | 45 days | 2,057 sqft |
| 2022-12-01 | 49 days | 1,946 sqft |
| 2023-01-01 | 60 days | 2,008 sqft |
| 2023-02-01 | 56 days | 1,994 sqft |
| 2023-03-01 | 52 days | 1,985 sqft |
| 2023-04-01 | 36 days | 2,026 sqft |
| 2023-05-01 | 39 days | 1,993 sqft |
| 2023-06-01 | 40 days | 2,047 sqft |
| 2023-07-01 | 43 days | 1,997 sqft |
| 2023-08-01 | 45 days | 1,971 sqft |
| 2023-09-01 | 44 days | 1,930 sqft |
| 2023-10-01 | 48 days | 1,904 sqft |
| 2023-11-01 | 50 days | 1,916 sqft |
| 2023-12-01 | 55 days | 1,892 sqft |
| 2024-01-01 | 58 days | 1,893 sqft |
| 2024-02-01 | 60 days | 1,909 sqft |
| 2024-03-01 | 55 days | 1,812 sqft |
Burlington's median square footage for active listings during the 2024-03-01 period was 1,812 sqft. One year prior, the average listing was 1,985 sqft.