California USDA Loans

CALIFORNIA-LEXINGTON PARK, MD

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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.

    California's 52 lenders originated 387 USDA loans during 2021. The total origination value was $111,875,000, with an average USDA loan value of $289,083.

    California USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in California averaged 5.01% 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 5.15% and one month ago for the week of 2022-04-08, the average rate was 4.71%.

    The average rate one year ago was 2.92%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.11%.

    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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the California level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    FIRST HOME MORTGAGE CORPORATION 94 2.82% $7,399
    C & F Mortgage Corporation 46 2.83% $7,062
    Towne Bank 29 2.72% $6,915
    Waterstone Mortgage Corporation 22 2.82% $7,965
    SOUTHERN TRUST MORTGAGE, LLC 21 2.90% $4,330
    First Heritage Mortgage, LLC 18 2.60% $7,359
    CORNERSTONE HOME LENDING, INC. 14 3.00% $8,421
    BAY CAPITAL MORTGAGE CORPORATION 12 2.41% $6,727
    EQUITY RESOURCES, INC. 10 2.60% $6,653
    CALIBER HOME LOANS, INC. 10 2.88% $6,732
    Vellum Mortgage, Inc. 9 3.01% $6,995
    Cedar Point Federal Credit Union 9 3.25% $7,558
    PRIMARY RESIDENTIAL MORTGAGE, INC. 8 2.89% $9,009
    Presidential Bank, FSB 7 2.98% $7,415
    INTERLINC MORTGAGE SERVICES, LLC 7 3.14% $5,346
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 3.11% $7,879
    WesBanco Bank, Inc. 6 3.04% $6,964
    AMERICAN FINANCIAL NETWORK, INC. 5 2.83% $13,576
    Paramount Residential Mortgage Group, Inc. 4 2.94% $6,785
    First Option Mortgage, LLC 3 3.21% $8,206
    HOME POINT FINANCIAL CORPORATION 3 2.75% $8,846
    Sierra Pacific Mortgage Company, Inc. 3 2.38% $8,529
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 3.46% $7,563
    CROSSCOUNTRY MORTGAGE, LLC 2 3.56% $8,280
    EAGLE HOME MORTGAGE, LLC 2 3.38% $8,937
    Plains Commerce Bank 2 2.81% $6,175
    CELEBRITY HOME LOANS, LLC 2 2.56% $8,455
    MOVEMENT MORTGAGE, LLC 2 2.31% $5,789
    TOWNE MORTGAGE COMPANY 1 3.13% $10,537
    Ameris Bank 1 3.13% $9,430
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.13% $6,699
    Colten Mortgage, LLC 1 2.88% $5,021
    EMBRACE HOME LOANS, INC. 1 3.00% $5,703
    Flagstar Bank, FSB 1 3.00% $6,903
    George Mason Mortgage, LLC 1 2.75% $6,132
    GUARANTEED RATE, INC. 1 2.88% $4,303
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.75% $5,244
    HOMESIDE FINANCIAL, LLC 1 2.63% $6,126
    INTERCOASTAL MORTGAGE COMPANY 1 3.25% $8,556
    MCLEAN MORTGAGE CORPORATION 1 2.50% $6,127
    NFM, INC. 1 3.13% $8,942
    Northpointe Bank 1 2.75% $9,592
    PENNYMAC LOAN SERVICES, LLC 1 2.75% $7,875
    PLANET HOME LENDING, LLC 1 3.75% $7,947
    Prosperity Home Mortgage, LLC 1 3.00% $7,344
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.00% $4,717
    THE MORTGAGE FIRM, INC. 1 2.88% $8,204
    THRIVE MORTGAGE, LLC 1 3.25% $17,311
    1ST FINANCIAL, INC. 1 3.25% $8,451
    Truist Bank 1 2.63% $6,676
    UNITED WHOLESALE MORTGAGE, LLC 1 2.63% $6,850
    UNIVERSAL MORTGAGE & FINANCE, INC. 1 3.38% $8,885

    The top California USDA lender as defined by loan originations is FIRST HOME MORTGAGE CORPORATION, with 94 USDA loans originated. Their average total fees are $7,399, which is $336 higher than the next largest lender, C & F Mortgage Corporation.

    The lowest fee California USDA lenders (with over 10 loans originated) are SOUTHERN TRUST MORTGAGE, LLC ($4,330), EQUITY RESOURCES, INC. ($6,653), BAY CAPITAL MORTGAGE CORPORATION ($6,727), CALIBER HOME LOANS, INC. ($6,732) and Towne Bank ($6,915).

    The lowest rate California USDA lenders (with over 10 loans originated) are BAY CAPITAL MORTGAGE CORPORATION (2.41%), First Heritage Mortgage, LLC (2.60%), EQUITY RESOURCES, INC. (2.60%), Towne Bank (2.72%) and FIRST HOME MORTGAGE CORPORATION (2.82%).

    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 $289,950 (5.5%) $324,650 (8.0%) 0.00 441
    2018-02-01 $285,000 (2.2%) $325,713 (7.4%) 0.00 441
    2018-03-01 $299,900 (3.5%) $331,066 (4.1%) 0.00 447
    2018-04-01 $309,950 (3.8%) $345,114 (3.8%) 0.00 468
    2018-05-01 $319,995 (7.3%) $354,912 (6.0%) 0.00 503
    2018-06-01 $320,000 (6.9%) $355,168 (4.5%) 0.00 544
    2018-07-01 $318,450 (6.2%) $350,913 (1.9%) 0.00 570
    2018-08-01 $307,445 (1.7%) $350,604 (2.9%) 0.00 554
    2018-09-01 $299,900 (0.3%) $351,157 (3.8%) 0.00 542
    2018-10-01 $295,000 (-1.3%) $341,173 (0.8%) 0.00 548
    2018-11-01 $302,400 (3.5%) $349,655 (5.2%) 0.00 500
    2018-12-01 $290,000 (0.9%) $336,216 (4.3%) 0.00 452
    2019-01-01 $289,940 (0.0%) $331,477 (2.1%) 0.00 421
    2019-02-01 $295,603 (3.7%) $335,069 (2.9%) 0.00 421
    2019-03-01 $312,757 (4.3%) $355,186 (7.3%) 0.00 425
    2019-04-01 $329,900 (6.4%) $380,939 (10.4%) 0.00 422
    2019-05-01 $335,000 (4.7%) $388,774 (9.5%) 0.00 456
    2019-06-01 $334,900 (4.7%) $388,023 (9.3%) 0.00 489
    2019-07-01 $329,945 (3.6%) $384,315 (9.5%) 0.00 473
    2019-08-01 $334,186 (8.7%) $387,208 (10.4%) 0.00 444
    2019-09-01 $339,950 (13.4%) $387,187 (10.3%) 0.00 420
    2019-10-01 $339,900 (15.2%) $369,102 (8.2%) 0.00 420
    2019-11-01 $335,000 (10.8%) $362,101 (3.6%) 0.00 389
    2019-12-01 $339,000 (16.9%) $359,280 (6.9%) 0.00 356
    2020-01-01 $339,950 (17.3%) $364,709 (10.0%) 0.00 305
    2020-02-01 $340,000 (15.0%) $376,754 (12.4%) 0.00 298
    2020-03-01 $354,450 (13.3%) $381,682 (7.5%) 0.00 305
    2020-04-01 $369,900 (12.1%) $394,259 (3.5%) 0.00 298
    2020-05-01 $370,000 (10.5%) $396,726 (2.1%) 0.00 280
    2020-06-01 $354,950 (6.0%) $400,701 (3.3%) 0.00 240
    2020-07-01 $364,900 (10.6%) $411,186 (7.0%) 0.00 207
    2020-08-01 $365,000 (9.2%) $422,158 (9.0%) 0.00 161
    2020-09-01 $364,950 (7.4%) $421,608 (8.9%) 0.00 168
    2020-10-01 $345,000 (1.5%) $409,050 (10.8%) 0.00 185
    2020-11-01 $329,475 (-1.7%) $406,712 (12.3%) 0.00 187
    2020-12-01 $319,950 (-5.6%) $382,192 (6.4%) 0.00 161
    2021-01-01 $319,900 (-5.9%) $375,420 (2.9%) 0.00 138
    2021-02-01 $313,543 (-7.8%) $356,841 (-5.3%) 0.00 123
    2021-03-01 $315,450 (-11.0%) $379,591 (-0.6%) 0.00 122
    2021-04-01 $320,335 (-13.4%) $359,286 (-8.9%) 0.00 124
    2021-05-01 $350,000 (-5.4%) $408,983 (3.1%) 0.00 136
    2021-06-01 $352,500 (-0.7%) $443,296 (10.6%) 0.00 165
    2021-07-01 $359,900 (-1.4%) $460,080 (11.9%) 0.00 179
    2021-08-01 $368,500 (1.0%) $462,968 (9.7%) 0.00 195
    2021-09-01 $373,500 (2.3%) $490,399 (16.3%) 0.00 180
    2021-10-01 $375,000 (8.7%) $496,732 (21.4%) 0.00 156
    2021-11-01 $387,000 (17.5%) $528,802 (30.0%) 0.00 136
    2021-12-01 $389,900 (21.9%) $508,265 (33.0%) 0.00 142
    2022-01-01 $385,000 (20.4%) $546,836 (45.7%) 0.00 104
    2022-02-01 $387,000 (23.4%) $558,605 (56.5%) 0.00 94
    2022-03-01 $399,500 (26.6%) $531,981 (40.2%) 0.00 99
    2022-04-01 $414,900 (29.5%) $551,258 (53.4%) 0.00 124
    California's median listing price for 2022-04-01 was $414,900, a difference of $94,565 (29.5%) versus the prior year and $15,400 versus the prior month.

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

    California's average listing price for 2022-04-01 was $551,258, a difference of $191,972 (53.4%) versus the prior year and $19,277 versus the prior month.

    For the 2022-04-01 period, California had 124 MLS listings, a difference of 25 listings (25%) versus the prior month and 0 listings (0%) 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 1,930 sqft
    2018-02-01 0 days 1,883 sqft
    2018-03-01 0 days 1,920 sqft
    2018-04-01 0 days 1,934 sqft
    2018-05-01 0 days 2,056 sqft
    2018-06-01 0 days 2,092 sqft
    2018-07-01 0 days 2,027 sqft
    2018-08-01 0 days 1,981 sqft
    2018-09-01 0 days 1,996 sqft
    2018-10-01 0 days 1,976 sqft
    2018-11-01 0 days 1,952 sqft
    2018-12-01 0 days 1,920 sqft
    2019-01-01 0 days 1,980 sqft
    2019-02-01 0 days 1,975 sqft
    2019-03-01 0 days 2,041 sqft
    2019-04-01 0 days 2,145 sqft
    2019-05-01 0 days 2,158 sqft
    2019-06-01 0 days 2,152 sqft
    2019-07-01 0 days 2,133 sqft
    2019-08-01 0 days 2,141 sqft
    2019-09-01 0 days 2,192 sqft
    2019-10-01 0 days 2,198 sqft
    2019-11-01 0 days 2,200 sqft
    2019-12-01 0 days 2,135 sqft
    2020-01-01 0 days 2,161 sqft
    2020-02-01 0 days 2,210 sqft
    2020-03-01 0 days 2,248 sqft
    2020-04-01 0 days 2,249 sqft
    2020-05-01 0 days 2,292 sqft
    2020-06-01 0 days 2,237 sqft
    2020-07-01 0 days 2,329 sqft
    2020-08-01 0 days 2,283 sqft
    2020-09-01 0 days 2,343 sqft
    2020-10-01 0 days 2,160 sqft
    2020-11-01 0 days 2,057 sqft
    2020-12-01 0 days 1,954 sqft
    2021-01-01 0 days 1,992 sqft
    2021-02-01 0 days 1,812 sqft
    2021-03-01 0 days 1,975 sqft
    2021-04-01 0 days 1,849 sqft
    2021-05-01 0 days 2,106 sqft
    2021-06-01 0 days 2,111 sqft
    2021-07-01 0 days 2,066 sqft
    2021-08-01 0 days 2,110 sqft
    2021-09-01 0 days 2,133 sqft
    2021-10-01 0 days 2,119 sqft
    2021-11-01 0 days 2,075 sqft
    2021-12-01 0 days 2,053 sqft
    2022-01-01 0 days 2,076 sqft
    2022-02-01 0 days 2,092 sqft
    2022-03-01 0 days 2,088 sqft
    2022-04-01 0 days 2,050 sqft
    California's median listing age (time on market) for 2022-04-01 was 0 days.

    California's median square footage for active listings during the 2022-04-01 period was 2,050 sqft. One year prior, the average listing was 1,849 sqft.