California USDA Loan Rates, Closing Costs & Stats

CALIFORNIA-LEXINGTON PARK, MD

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    California's 19 lenders originated 71 USDA loans during 2023. The total origination value was $20,745,000, with an average USDA loan value of $292,183.

    California USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in California averaged -0.21% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    California's average USDA mortgage closing costs are $7,270.

    The average rate for the prior week (2024-11-08) was 6.35% and one month ago for the week of 2024-10-11, the average rate was 5.71%.

    The average rate one year ago was 7.04%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.1%.

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

    California 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 California level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FIRST HOME MORTGAGE CORPORATION 23 6.18% $9,327
    Towne Bank 10 6.08% $9,046
    INTERLINC MORTGAGE SERVICES, LLC 6 6.35% $4,716
    BAY CAPITAL MORTGAGE CORPORATION 5 5.95% $10,171
    UNITED WHOLESALE MORTGAGE, LLC 4 6.04% $9,143
    Waterstone Mortgage Corporation 2 6.00% $16,159
    First Heritage Mortgage, LLC 2 6.31% $9,331
    MOVEMENT MORTGAGE, LLC 2 5.69% $9,839
    Paramount Residential Mortgage Group, Inc. 2 6.94% $12,620
    Vellum Mortgage, Inc. 2 6.69% $8,854
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.56% $7,823
    UNIVERSAL MORTGAGE & FINANCE, INC. 1 6.63% $14,205
    Plains Commerce Bank 1 7.00% $11,161
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.75% $15,229
    Equity Prime Mortgage LLC 1 7.25% $13,022
    FIDELITY DIRECT MORTGAGE, LLC 1 7.25% $8,041
    Keystone Funding, Inc. 1 6.63% $7,557
    Cedar Point Federal Credit Union 1 7.25% $9,106
    NORWICH COMMERCIAL GROUP, INC. 1 5.75% $21,666

    The top California USDA lender as defined by loan originations is FIRST HOME MORTGAGE CORPORATION, with 23 USDA loans originated. Their average total fees are $9,327, which is $281 higher than the next largest lender, Towne Bank.

    The lowest fee California USDA lenders (with over 10 loans originated) are Towne Bank ($9,046), FIRST HOME MORTGAGE CORPORATION ($9,327), .

    The lowest rate California USDA lenders (with over 10 loans originated) are Towne Bank (6.08%), FIRST HOME MORTGAGE CORPORATION (6.18%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - California (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 $289,099 (5.1%) $325,519 (7.7%) 0.00 448
    2018-02-01 $285,000 (1.8%) $326,756 (7.4%) 0.00 447
    2018-03-01 $309,000 (6.6%) $333,484 (4.6%) 0.00 457
    2018-04-01 $314,900 (5.5%) $345,701 (3.7%) 0.00 477
    2018-05-01 $321,495 (7.6%) $355,319 (6.2%) 0.00 512
    2018-06-01 $320,835 (7.0%) $355,717 (4.7%) 0.00 556
    2018-07-01 $318,950 (4.6%) $350,443 (1.8%) 0.00 580
    2018-08-01 $303,498 (0.4%) $350,908 (3.4%) 0.00 557
    2018-09-01 $299,999 (0.1%) $351,898 (3.6%) 0.00 549
    2018-10-01 $299,394 (0.1%) $342,502 (0.9%) 0.00 558
    2018-11-01 $302,423 (3.0%) $350,756 (5.3%) 0.00 507
    2018-12-01 $292,158 (1.1%) $337,497 (4.6%) 0.00 458
    2019-01-01 $291,551 (0.9%) $332,818 (2.2%) 0.00 429
    2019-02-01 $296,276 (4.0%) $336,139 (2.9%) 0.00 429
    2019-03-01 $312,757 (1.2%) $356,816 (7.0%) 0.00 432
    2019-04-01 $329,923 (4.8%) $382,698 (10.7%) 0.00 432
    2019-05-01 $335,294 (4.3%) $392,201 (10.4%) 0.00 465
    2019-06-01 $334,950 (4.4%) $388,078 (9.1%) 0.00 498
    2019-07-01 $329,993 (3.5%) $387,264 (10.5%) 0.00 482
    2019-08-01 $332,655 (9.6%) $383,409 (9.3%) 0.00 454
    2019-09-01 $336,786 (12.3%) $376,589 (7.0%) 0.00 440
    2019-10-01 $340,000 (13.6%) $371,738 (8.5%) 0.00 430
    2019-11-01 $335,000 (10.8%) $362,774 (3.4%) 0.00 397
    2019-12-01 $338,000 (15.7%) $360,195 (6.7%) 0.00 361
    2020-01-01 $339,950 (16.6%) $367,205 (10.3%) 0.00 317
    2020-02-01 $345,000 (16.5%) $378,993 (12.8%) 0.00 309
    2020-03-01 $354,500 (13.4%) $385,744 (8.1%) 0.00 318
    2020-04-01 $366,225 (11.0%) $396,106 (3.5%) 0.00 310
    2020-05-01 $369,900 (10.3%) $398,502 (1.6%) 0.00 289
    2020-06-01 $356,123 (6.3%) $404,721 (4.3%) 0.00 247
    2020-07-01 $362,450 (9.8%) $411,905 (6.4%) 0.00 212
    2020-08-01 $365,000 (9.7%) $421,466 (9.9%) 0.00 165
    2020-09-01 $360,725 (7.1%) $418,231 (11.1%) 0.00 172
    2020-10-01 $339,950 (0.0%) $404,474 (8.8%) 0.00 191
    2020-11-01 $331,750 (-1.0%) $408,569 (12.6%) 0.00 193
    2020-12-01 $320,143 (-5.3%) $380,010 (5.5%) 0.00 169
    2021-01-01 $319,900 (-5.9%) $374,631 (2.0%) 0.00 145
    2021-02-01 $312,046 (-9.6%) $357,157 (-5.8%) 0.00 129
    2021-03-01 $315,975 (-10.9%) $379,131 (-1.7%) 0.00 128
    2021-04-01 $320,335 (-12.5%) $361,365 (-8.8%) 0.00 129
    2021-05-01 $349,999 (-5.4%) $407,945 (2.4%) 0.00 143
    2021-06-01 $357,450 (0.4%) $442,292 (9.3%) 0.00 172
    2021-07-01 $359,900 (-0.7%) $466,663 (13.3%) 0.00 184
    2021-08-01 $371,000 (1.6%) $463,359 (9.9%) 0.00 204
    2021-09-01 $374,950 (3.9%) $491,436 (17.5%) 0.00 186
    2021-10-01 $379,000 (11.5%) $492,122 (21.7%) 0.00 162
    2021-11-01 $383,490 (15.6%) $523,244 (28.1%) 0.00 145
    2021-12-01 $384,946 (20.2%) $503,766 (32.6%) 0.00 148
    2022-01-01 $388,500 (21.4%) $543,191 (45.0%) 0.00 110
    2022-02-01 $386,625 (23.9%) $555,665 (55.6%) 0.00 98
    2022-03-01 $399,700 (26.5%) $530,150 (39.8%) 0.00 104
    2022-04-01 $409,900 (28.0%) $545,216 (50.9%) 0.00 131
    2022-05-01 $428,700 (22.5%) $539,091 (32.2%) 0.00 161
    2022-06-01 $429,950 (20.3%) $527,069 (19.2%) 0.00 191
    2022-07-01 $419,900 (16.7%) $510,580 (9.4%) 0.00 220
    2022-08-01 $420,000 (13.2%) $509,322 (9.9%) 0.00 230
    2022-09-01 $417,450 (11.3%) $503,164 (2.4%) 0.00 206
    2022-10-01 $419,900 (10.8%) $503,532 (2.3%) 0.00 227
    2022-11-01 $404,900 (5.6%) $490,854 (-6.2%) 0.00 223
    2022-12-01 $399,900 (3.9%) $495,402 (-1.7%) 0.00 177
    2023-01-01 $402,400 (3.6%) $487,197 (-10.3%) 0.00 164
    2023-02-01 $450,975 (16.6%) $531,854 (-4.3%) 0.00 150
    2023-03-01 $485,498 (21.5%) $538,241 (1.5%) 0.00 141
    2023-04-01 $492,445 (20.1%) $589,004 (8.0%) 0.00 141
    2023-05-01 $496,743 (15.9%) $613,238 (13.8%) 0.00 149
    2023-06-01 $511,423 (19.0%) $636,497 (20.8%) 0.00 147
    2023-07-01 $499,650 (19.0%) $618,510 (21.1%) 0.00 161
    2023-08-01 $472,475 (12.5%) $606,212 (19.0%) 0.00 156
    2023-09-01 $472,450 (13.2%) $612,760 (21.8%) 0.00 152
    2023-10-01 $477,400 (13.7%) $791,826 (57.3%) 0.00 160
    2023-11-01 $482,450 (19.2%) $814,772 (66.0%) 0.00 160
    2023-12-01 $509,950 (27.5%) $749,571 (51.3%) 0.00 151
    2024-01-01 $475,400 (18.1%) $741,398 (52.2%) 0.00 135
    2024-02-01 $483,475 (7.2%) $746,595 (40.4%) 0.00 128
    2024-03-01 $520,000 (7.1%) $821,746 (52.7%) 0.00 132
    2024-04-01 $511,250 (3.8%) $818,137 (38.9%) 0.00 151
    2024-05-01 $493,625 (-0.6%) $828,657 (35.1%) 0.00 175
    2024-06-01 $527,500 (3.1%) $828,976 (30.2%) 0.00 176
    2024-07-01 $529,750 (6.0%) $822,371 (33.0%) 0.00 177
    2024-08-01 $507,250 (7.4%) $813,711 (34.2%) 0.00 178
    2024-09-01 $489,450 (3.6%) $782,585 (27.7%) 0.00 192
    2024-10-01 $474,950 (-0.5%) $746,554 (-5.7%) 0.00 212
    California's median listing price for 2024-10-01 was $474,950, a difference of $-2,450 (-0.5%) versus the prior year and $-14,500 versus the prior month.

    California's median listing price comes in at 0% of the national average.

    California's average listing price for 2024-10-01 was $746,554, a difference of $-45,272 (-5.7%) versus the prior year and $-36,031 versus the prior month.

    For the 2024-10-01 period, California had 212 MLS listings, a difference of 20 listings (10%) versus the prior month and 52 listings (33%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - California (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,920 sqft
    2018-02-01 0 days 1,865 sqft
    2018-03-01 0 days 1,887 sqft
    2018-04-01 0 days 1,893 sqft
    2018-05-01 0 days 1,974 sqft
    2018-06-01 0 days 2,112 sqft
    2018-07-01 0 days 2,036 sqft
    2018-08-01 0 days 2,008 sqft
    2018-09-01 0 days 2,016 sqft
    2018-10-01 0 days 2,000 sqft
    2018-11-01 0 days 1,976 sqft
    2018-12-01 0 days 1,944 sqft
    2019-01-01 0 days 1,988 sqft
    2019-02-01 0 days 1,977 sqft
    2019-03-01 0 days 2,055 sqft
    2019-04-01 0 days 2,161 sqft
    2019-05-01 0 days 2,169 sqft
    2019-06-01 0 days 2,151 sqft
    2019-07-01 0 days 2,134 sqft
    2019-08-01 0 days 2,138 sqft
    2019-09-01 0 days 2,173 sqft
    2019-10-01 0 days 2,209 sqft
    2019-11-01 0 days 2,200 sqft
    2019-12-01 0 days 2,142 sqft
    2020-01-01 0 days 2,197 sqft
    2020-02-01 0 days 2,210 sqft
    2020-03-01 0 days 2,254 sqft
    2020-04-01 0 days 2,249 sqft
    2020-05-01 0 days 2,292 sqft
    2020-06-01 0 days 2,257 sqft
    2020-07-01 0 days 2,308 sqft
    2020-08-01 0 days 2,288 sqft
    2020-09-01 0 days 2,326 sqft
    2020-10-01 0 days 2,160 sqft
    2020-11-01 0 days 2,087 sqft
    2020-12-01 0 days 1,981 sqft
    2021-01-01 0 days 2,016 sqft
    2021-02-01 0 days 1,805 sqft
    2021-03-01 0 days 1,974 sqft
    2021-04-01 0 days 1,849 sqft
    2021-05-01 0 days 2,083 sqft
    2021-06-01 0 days 2,100 sqft
    2021-07-01 0 days 2,114 sqft
    2021-08-01 0 days 2,118 sqft
    2021-09-01 0 days 2,148 sqft
    2021-10-01 0 days 2,097 sqft
    2021-11-01 0 days 2,048 sqft
    2021-12-01 0 days 2,045 sqft
    2022-01-01 0 days 2,078 sqft
    2022-02-01 0 days 2,110 sqft
    2022-03-01 0 days 2,092 sqft
    2022-04-01 0 days 2,096 sqft
    2022-05-01 0 days 2,199 sqft
    2022-06-01 0 days 2,204 sqft
    2022-07-01 0 days 2,156 sqft
    2022-08-01 0 days 2,243 sqft
    2022-09-01 0 days 2,092 sqft
    2022-10-01 0 days 2,136 sqft
    2022-11-01 0 days 2,162 sqft
    2022-12-01 0 days 2,148 sqft
    2023-01-01 0 days 2,199 sqft
    2023-02-01 0 days 2,239 sqft
    2023-03-01 0 days 2,208 sqft
    2023-04-01 0 days 2,310 sqft
    2023-05-01 0 days 2,274 sqft
    2023-06-01 0 days 2,288 sqft
    2023-07-01 0 days 2,350 sqft
    2023-08-01 0 days 2,259 sqft
    2023-09-01 0 days 2,359 sqft
    2023-10-01 0 days 2,363 sqft
    2023-11-01 0 days 2,363 sqft
    2023-12-01 0 days 2,331 sqft
    2024-01-01 0 days 2,134 sqft
    2024-02-01 0 days 2,026 sqft
    2024-03-01 0 days 2,170 sqft
    2024-04-01 0 days 2,201 sqft
    2024-05-01 0 days 2,149 sqft
    2024-06-01 0 days 2,304 sqft
    2024-07-01 0 days 2,395 sqft
    2024-08-01 0 days 2,300 sqft
    2024-09-01 0 days 2,276 sqft
    2024-10-01 0 days 2,187 sqft
    California's median listing age (time on market) for 2024-10-01 was 0 days.

    California's median square footage for active listings during the 2024-10-01 period was 2,187 sqft. One year prior, the average listing was 2,363 sqft.