Charlottesville USDA Loan Rates, Closing Costs & Stats

CHARLOTTESVILLE, VA

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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.

    Charlottesville's 24 lenders originated 51 USDA loans during 2022. The total origination value was $12,705,000, with an average USDA loan value of $249,118.

    Charlottesville USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Charlottesville averaged 5.89% for the week of 2023-03-17, compared to the national average (all USDA variants) of 6.497% for the same period.

    Charlottesville's average USDA mortgage closing costs are $6,092.

    The average rate for the prior week (2023-03-10) was 6.31% and one month ago for the week of 2023-02-10, the average rate was 5.57%.

    The average rate one year ago was 3.76%.

    For refis of the same type during the week of 2023-03-17, the average rate was 4.82%.

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

    Charlottesville 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 Charlottesville level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Atlantic Coast Mortgage, LLC 6 4.83% $8,705
    Waterstone Mortgage Corporation 4 4.41% $9,335
    HOME POINT FINANCIAL CORPORATION 4 3.91% $7,414
    C & F Mortgage Corporation 3 4.46% $6,526
    Prosperity Home Mortgage, LLC 3 5.04% $8,351
    MOVEMENT MORTGAGE, LLC 3 5.46% $11,022
    UNITED WHOLESALE MORTGAGE, LLC 3 5.17% $7,403
    Ixonia Bank 3 3.92% $9,357
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 3.06% $9,380
    NFM, INC. 2 5.25% $7,400
    PENNYMAC LOAN SERVICES, LLC 2 2.97% $7,397
    Alcova Mortgage LLC 2 3.94% $5,676
    EMBRACE HOME LOANS, INC. 2 6.19% $5,608
    SECURITYNATIONAL MORTGAGE COMPANY 1 4.25% $7,569
    Integrity Home Mortgage Corp 1 3.13% $5,826
    CBM Mortgage, Inc. 1 5.13% $6,651
    FINANCE OF AMERICA MORTGAGE LLC 1 5.88% $10,763
    First Heritage Mortgage, LLC 1 2.99% $11,955
    Fulton Bank 1 5.63% $7,710
    George Mason Mortgage, LLC 1 4.63% $9,373
    GUILD MORTGAGE COMPANY 1 4.13% $7,182
    Blue Ridge Bank 1 5.12% $6,511
    Member Options, LLC 1 5.50% $6,320
    PLANET HOME LENDING, LLC 1 3.00% $5,009

    The top Charlottesville USDA lender as defined by loan originations is Atlantic Coast Mortgage, LLC, with 6 USDA loans originated. Their average total fees are $8,705, which is $630 lower than the next largest lender, Waterstone Mortgage Corporation.

    The lowest fee Charlottesville USDA lenders (with over 10 loans originated) are .

    The lowest rate Charlottesville USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Charlottesville (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 $409,450 (5.0%) $578,648 (3.1%) 1.52 1,066
    2018-02-01 $399,950 (0.5%) $563,959 (-2.2%) 1.45 1,099
    2018-03-01 $399,900 (1.0%) $590,366 (-0.4%) 1.40 1,257
    2018-04-01 $399,900 (0.0%) $576,064 (-2.6%) 1.36 1,386
    2018-05-01 $399,900 (-2.4%) $572,569 (-3.7%) 1.34 1,475
    2018-06-01 $399,900 (-2.2%) $582,080 (-1.3%) 1.33 1,505
    2018-07-01 $399,900 (-2.4%) $572,776 (-2.2%) 1.33 1,487
    2018-08-01 $399,444 (-3.6%) $603,130 (4.7%) 1.34 1,462
    2018-09-01 $399,000 (-4.7%) $583,040 (0.5%) 1.34 1,490
    2018-10-01 $394,295 (-7.5%) $582,864 (-1.2%) 1.33 1,502
    2018-11-01 $399,000 (-4.9%) $586,234 (2.0%) 1.35 1,356
    2018-12-01 $389,900 (-5.4%) $549,973 (-4.7%) 1.34 1,187
    2019-01-01 $394,975 (-3.5%) $562,494 (-2.8%) 1.36 1,109
    2019-02-01 $403,900 (1.0%) $588,743 (4.4%) 1.36 1,140
    2019-03-01 $428,729 (7.2%) $610,386 (3.4%) 1.40 1,265
    2019-04-01 $434,900 (8.8%) $634,169 (10.1%) 1.38 1,394
    2019-05-01 $443,445 (10.9%) $637,025 (11.3%) 1.39 1,465
    2019-06-01 $429,900 (7.5%) $608,590 (4.6%) 1.34 1,466
    2019-07-01 $429,900 (7.5%) $615,195 (7.4%) 1.35 1,453
    2019-08-01 $429,655 (7.6%) $612,516 (1.6%) 1.36 1,437
    2019-09-01 $429,286 (7.6%) $606,364 (4.0%) 1.37 1,434
    2019-10-01 $429,166 (8.8%) $591,560 (1.5%) 1.38 1,425
    2019-11-01 $425,000 (6.5%) $584,160 (-0.4%) 1.39 1,299
    2019-12-01 $424,950 (9.0%) $588,712 (7.0%) 1.42 1,121
    2020-01-01 $439,500 (11.3%) $617,976 (9.9%) 1.47 1,022
    2020-02-01 $449,000 (11.2%) $635,712 (8.0%) 1.46 1,044
    2020-03-01 $452,144 (5.5%) $634,490 (4.0%) 1.42 1,105
    2020-04-01 $454,747 (4.6%) $640,023 (0.9%) 1.42 1,113
    2020-05-01 $468,450 (5.6%) $647,206 (1.6%) 1.42 1,116
    2020-06-01 $476,950 (10.9%) $663,953 (9.1%) 1.40 1,014
    2020-07-01 $481,650 (12.0%) $670,536 (9.0%) 1.40 951
    2020-08-01 $479,900 (11.7%) $697,540 (13.9%) 1.38 853
    2020-09-01 $494,450 (15.2%) $720,472 (18.8%) 1.41 780
    2020-10-01 $489,900 (14.2%) $722,023 (22.1%) 1.40 737
    2020-11-01 $490,698 (15.5%) $827,922 (41.7%) 1.43 674
    2020-12-01 $486,313 (14.4%) $830,244 (41.0%) 1.44 573
    2021-01-01 $488,900 (11.2%) $870,102 (40.8%) 1.46 503
    2021-02-01 $516,549 (15.0%) $922,898 (45.2%) 1.50 423
    2021-03-01 $499,425 (10.5%) $903,774 (42.4%) 1.42 454
    2021-04-01 $492,125 (8.2%) $896,915 (40.1%) 1.33 440
    2021-05-01 $481,495 (2.8%) $879,332 (35.9%) 1.27 473
    2021-06-01 $487,695 (2.3%) $793,274 (19.5%) 1.28 471
    2021-07-01 $462,900 (-3.9%) $745,394 (11.2%) 1.22 494
    2021-08-01 $458,950 (-4.4%) $750,348 (7.6%) 1.22 489
    2021-09-01 $479,200 (-3.1%) $766,844 (6.4%) 1.28 493
    2021-10-01 $498,500 (1.8%) $843,486 (16.8%) 1.33 450
    2021-11-01 $508,150 (3.6%) $901,134 (8.8%) 1.36 378
    2021-12-01 $499,499 (2.7%) $878,152 (5.8%) 1.35 333
    2022-01-01 $535,000 (9.4%) $985,848 (13.3%) 1.45 268
    2022-02-01 $553,725 (7.2%) $980,091 (6.2%) 1.44 261
    2022-03-01 $515,779 (3.3%) $867,811 (-4.0%) 1.29 306
    2022-04-01 $509,900 (3.6%) $858,498 (-4.3%) 1.21 342
    2022-05-01 $509,210 (5.8%) $869,875 (-1.1%) 1.16 444
    2022-06-01 $519,980 (6.6%) $900,542 (13.5%) 1.16 484
    2022-07-01 $508,374 (9.8%) $925,130 (24.1%) 1.14 532
    2022-08-01 $499,925 (8.9%) $887,560 (18.3%) 1.15 507
    2022-09-01 $499,125 (4.2%) $875,269 (14.1%) 1.16 517
    2022-10-01 $499,900 (0.3%) $896,219 (6.3%) 1.18 552
    2022-11-01 $499,495 (-1.7%) $874,769 (-2.9%) 1.20 553
    2022-12-01 $524,900 (5.1%) $885,631 (0.9%) 1.30 509
    2023-01-01 $542,445 (1.4%) $908,840 (-7.8%) 1.34 462
    2023-02-01 $569,900 (2.9%) $958,294 (-2.2%) 1.37 451
    Charlottesville's median listing price for 2023-02-01 was $569,900, a difference of $16,175 (2.9%) versus the prior year and $27,455 versus the prior month.

    Charlottesville's median listing price comes in at 137% of the national average.

    Charlottesville's average listing price for 2023-02-01 was $958,294, a difference of $-21,797 (-2.2%) versus the prior year and $49,454 versus the prior month.

    For the 2023-02-01 period, Charlottesville had 451 MLS listings, a difference of -11 listings (-2%) versus the prior month and 190 listings (73%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Charlottesville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 121 days 2,388 sqft
    2018-02-01 103 days 2,359 sqft
    2018-03-01 65 days 2,368 sqft
    2018-04-01 59 days 2,371 sqft
    2018-05-01 64 days 2,389 sqft
    2018-06-01 74 days 2,376 sqft
    2018-07-01 89 days 2,374 sqft
    2018-08-01 96 days 2,369 sqft
    2018-09-01 103 days 2,350 sqft
    2018-10-01 109 days 2,364 sqft
    2018-11-01 112 days 2,366 sqft
    2018-12-01 121 days 2,297 sqft
    2019-01-01 125 days 2,310 sqft
    2019-02-01 122 days 2,359 sqft
    2019-03-01 89 days 2,397 sqft
    2019-04-01 60 days 2,408 sqft
    2019-05-01 64 days 2,440 sqft
    2019-06-01 79 days 2,400 sqft
    2019-07-01 85 days 2,412 sqft
    2019-08-01 89 days 2,419 sqft
    2019-09-01 91 days 2,427 sqft
    2019-10-01 93 days 2,432 sqft
    2019-11-01 101 days 2,392 sqft
    2019-12-01 113 days 2,336 sqft
    2020-01-01 120 days 2,344 sqft
    2020-02-01 116 days 2,406 sqft
    2020-03-01 72 days 2,445 sqft
    2020-04-01 74 days 2,438 sqft
    2020-05-01 82 days 2,480 sqft
    2020-06-01 98 days 2,519 sqft
    2020-07-01 109 days 2,492 sqft
    2020-08-01 94 days 2,500 sqft
    2020-09-01 86 days 2,453 sqft
    2020-10-01 79 days 2,414 sqft
    2020-11-01 79 days 2,402 sqft
    2020-12-01 96 days 2,401 sqft
    2021-01-01 109 days 2,309 sqft
    2021-02-01 99 days 2,325 sqft
    2021-03-01 59 days 2,288 sqft
    2021-04-01 51 days 2,303 sqft
    2021-05-01 46 days 2,327 sqft
    2021-06-01 53 days 2,320 sqft
    2021-07-01 50 days 2,264 sqft
    2021-08-01 52 days 2,248 sqft
    2021-09-01 54 days 2,276 sqft
    2021-10-01 65 days 2,282 sqft
    2021-11-01 68 days 2,265 sqft
    2021-12-01 70 days 2,292 sqft
    2022-01-01 83 days 2,310 sqft
    2022-02-01 63 days 2,274 sqft
    2022-03-01 35 days 2,182 sqft
    2022-04-01 33 days 2,162 sqft
    2022-05-01 37 days 2,221 sqft
    2022-06-01 40 days 2,249 sqft
    2022-07-01 47 days 2,240 sqft
    2022-08-01 56 days 2,204 sqft
    2022-09-01 54 days 2,213 sqft
    2022-10-01 49 days 2,207 sqft
    2022-11-01 56 days 2,198 sqft
    2022-12-01 67 days 2,218 sqft
    2023-01-01 87 days 2,242 sqft
    2023-02-01 87 days 2,267 sqft
    Charlottesville's median listing age (time on market) for 2023-02-01 was 87 days. This is 38% longer than the same period one year ago.

    Charlottesville's median square footage for active listings during the 2023-02-01 period was 2,267 sqft. One year prior, the average listing was 2,274 sqft.