Charlottesville USDA Loan Rates, Closing Costs & Stats

CHARLOTTESVILLE, VA

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 5.98% for the week of 2024-02-16, compared to the national average (all USDA variants) of 6.685% for the same period.

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

The average rate for the prior week (2024-02-09) was 6.01% and one month ago for the week of 2024-01-12, the average rate was 6.03%.

The average rate one year ago was 5.87%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.01%.

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 $409,720 (5.1%) $579,955 (3.6%) 1.52 1,063
2018-02-01 $399,950 (0.6%) $565,187 (-1.8%) 1.45 1,095
2018-03-01 $399,900 (1.1%) $592,477 (0.1%) 1.40 1,248
2018-04-01 $399,990 (0.0%) $577,124 (-2.5%) 1.36 1,381
2018-05-01 $399,992 (-2.7%) $574,046 (-3.6%) 1.34 1,461
2018-06-01 $399,900 (-2.3%) $583,515 (-1.2%) 1.33 1,492
2018-07-01 $399,900 (-2.5%) $573,591 (-2.3%) 1.34 1,477
2018-08-01 $399,700 (-4.1%) $604,261 (4.8%) 1.34 1,454
2018-09-01 $399,000 (-4.8%) $584,217 (0.6%) 1.34 1,483
2018-10-01 $394,850 (-7.5%) $583,687 (-1.3%) 1.34 1,496
2018-11-01 $399,306 (-5.2%) $587,125 (2.0%) 1.35 1,351
2018-12-01 $391,200 (-5.4%) $550,722 (-4.7%) 1.35 1,180
2019-01-01 $396,162 (-3.3%) $563,899 (-2.8%) 1.37 1,103
2019-02-01 $404,450 (1.1%) $590,004 (4.4%) 1.37 1,135
2019-03-01 $429,000 (7.3%) $611,969 (3.3%) 1.40 1,259
2019-04-01 $434,738 (8.7%) $634,841 (10.0%) 1.38 1,389
2019-05-01 $445,848 (11.5%) $638,692 (11.3%) 1.39 1,458
2019-06-01 $429,900 (7.5%) $610,129 (4.6%) 1.34 1,456
2019-07-01 $429,900 (7.5%) $616,307 (7.5%) 1.35 1,448
2019-08-01 $429,800 (7.5%) $613,824 (1.6%) 1.36 1,433
2019-09-01 $429,651 (7.7%) $608,085 (4.1%) 1.38 1,431
2019-10-01 $429,551 (8.8%) $592,946 (1.6%) 1.39 1,422
2019-11-01 $425,000 (6.4%) $584,814 (-0.4%) 1.39 1,297
2019-12-01 $424,950 (8.6%) $589,397 (7.0%) 1.42 1,118
2020-01-01 $439,725 (11.0%) $617,314 (9.5%) 1.47 1,019
2020-02-01 $449,000 (11.0%) $636,193 (7.8%) 1.47 1,039
2020-03-01 $452,047 (5.4%) $634,997 (3.8%) 1.42 1,097
2020-04-01 $454,747 (4.6%) $640,435 (0.9%) 1.42 1,106
2020-05-01 $467,900 (5.0%) $647,712 (1.4%) 1.42 1,109
2020-06-01 $474,950 (10.5%) $662,925 (8.7%) 1.40 1,012
2020-07-01 $479,895 (11.6%) $670,037 (8.7%) 1.39 948
2020-08-01 $479,600 (11.6%) $697,727 (13.7%) 1.37 847
2020-09-01 $493,700 (14.9%) $720,442 (18.5%) 1.41 775
2020-10-01 $489,950 (14.1%) $722,191 (21.8%) 1.40 733
2020-11-01 $487,500 (14.7%) $827,659 (41.5%) 1.43 671
2020-12-01 $481,925 (13.4%) $829,436 (40.7%) 1.43 570
2021-01-01 $479,000 (8.9%) $868,807 (40.7%) 1.43 499
2021-02-01 $516,549 (15.0%) $922,898 (45.1%) 1.50 423
2021-03-01 $499,425 (10.5%) $904,825 (42.5%) 1.42 454
2021-04-01 $492,250 (8.3%) $897,123 (40.1%) 1.33 440
2021-05-01 $484,990 (3.7%) $881,078 (36.0%) 1.29 471
2021-06-01 $490,623 (3.3%) $795,574 (20.0%) 1.29 468
2021-07-01 $465,000 (-3.1%) $746,752 (11.5%) 1.23 488
2021-08-01 $463,949 (-3.3%) $755,683 (8.3%) 1.24 481
2021-09-01 $482,498 (-2.3%) $771,980 (7.2%) 1.29 487
2021-10-01 $499,000 (1.9%) $846,637 (17.2%) 1.33 446
2021-11-01 $512,450 (5.1%) $907,412 (9.6%) 1.37 374
2021-12-01 $499,950 (3.7%) $881,794 (6.3%) 1.35 330
2022-01-01 $544,267 (13.6%) $987,173 (13.6%) 1.47 267
2022-02-01 $556,200 (7.7%) $981,053 (6.3%) 1.45 261
2022-03-01 $514,950 (3.1%) $869,759 (-3.9%) 1.29 304
2022-04-01 $509,900 (3.6%) $860,557 (-4.1%) 1.22 341
2022-05-01 $509,210 (5.0%) $869,923 (-1.3%) 1.16 444
2022-06-01 $519,953 (6.0%) $901,111 (13.3%) 1.16 485
2022-07-01 $513,110 (10.4%) $927,291 (24.2%) 1.16 528
2022-08-01 $499,950 (7.8%) $888,274 (17.6%) 1.16 506
2022-09-01 $499,000 (3.4%) $875,741 (13.4%) 1.17 515
2022-10-01 $499,900 (0.2%) $893,274 (5.5%) 1.18 551
2022-11-01 $499,495 (-2.5%) $876,319 (-3.4%) 1.20 551
2022-12-01 $524,900 (5.0%) $877,273 (-0.5%) 1.30 505
2023-01-01 $542,448 (-0.3%) $901,906 (-8.6%) 1.34 460
2023-02-01 $569,875 (2.5%) $950,873 (-3.1%) 1.38 448
2023-03-01 $584,900 (13.6%) $934,096 (7.4%) 1.38 468
2023-04-01 $565,000 (10.8%) $891,364 (3.6%) 1.31 523
2023-05-01 $562,941 (10.6%) $874,511 (0.5%) 1.28 518
2023-06-01 $570,938 (9.8%) $895,319 (-0.6%) 1.28 513
2023-07-01 $574,950 (12.1%) $884,973 (-4.6%) 1.31 499
2023-08-01 $573,650 (14.7%) $887,936 (0.0%) 1.32 493
2023-09-01 $553,488 (10.9%) $885,305 (1.1%) 1.29 505
2023-10-01 $550,000 (10.0%) $878,354 (-1.7%) 1.29 538
2023-11-01 $562,043 (12.5%) $857,641 (-2.1%) 1.34 542
2023-12-01 $562,495 (7.2%) $837,113 (-4.6%) 1.37 476
Charlottesville's median listing price for 2023-12-01 was $562,495, a difference of $37,595 (7.2%) versus the prior year and $452 versus the prior month.

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

Charlottesville's average listing price for 2023-12-01 was $837,113, a difference of $-40,160 (-4.6%) versus the prior year and $-20,528 versus the prior month.

For the 2023-12-01 period, Charlottesville had 476 MLS listings, a difference of -66 listings (-12%) versus the prior month and -29 listings (-6%) 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
2018-01-01 107 days 2,394 sqft
2018-02-01 83 days 2,364 sqft
2018-03-01 53 days 2,370 sqft
2018-04-01 51 days 2,367 sqft
2018-05-01 55 days 2,387 sqft
2018-06-01 65 days 2,376 sqft
2018-07-01 80 days 2,377 sqft
2018-08-01 87 days 2,361 sqft
2018-09-01 90 days 2,349 sqft
2018-10-01 92 days 2,366 sqft
2018-11-01 96 days 2,370 sqft
2018-12-01 105 days 2,298 sqft
2019-01-01 111 days 2,313 sqft
2019-02-01 104 days 2,359 sqft
2019-03-01 74 days 2,397 sqft
2019-04-01 53 days 2,407 sqft
2019-05-01 57 days 2,438 sqft
2019-06-01 71 days 2,401 sqft
2019-07-01 77 days 2,410 sqft
2019-08-01 80 days 2,420 sqft
2019-09-01 80 days 2,429 sqft
2019-10-01 81 days 2,432 sqft
2019-11-01 86 days 2,392 sqft
2019-12-01 99 days 2,337 sqft
2020-01-01 107 days 2,345 sqft
2020-02-01 99 days 2,410 sqft
2020-03-01 60 days 2,447 sqft
2020-04-01 61 days 2,438 sqft
2020-05-01 72 days 2,480 sqft
2020-06-01 84 days 2,519 sqft
2020-07-01 87 days 2,493 sqft
2020-08-01 72 days 2,500 sqft
2020-09-01 70 days 2,451 sqft
2020-10-01 66 days 2,415 sqft
2020-11-01 65 days 2,403 sqft
2020-12-01 84 days 2,400 sqft
2021-01-01 93 days 2,309 sqft
2021-02-01 77 days 2,328 sqft
2021-03-01 49 days 2,288 sqft
2021-04-01 44 days 2,303 sqft
2021-05-01 41 days 2,315 sqft
2021-06-01 48 days 2,323 sqft
2021-07-01 45 days 2,265 sqft
2021-08-01 50 days 2,249 sqft
2021-09-01 51 days 2,281 sqft
2021-10-01 61 days 2,282 sqft
2021-11-01 64 days 2,255 sqft
2021-12-01 68 days 2,291 sqft
2022-01-01 80 days 2,305 sqft
2022-02-01 52 days 2,274 sqft
2022-03-01 34 days 2,179 sqft
2022-04-01 32 days 2,160 sqft
2022-05-01 34 days 2,218 sqft
2022-06-01 39 days 2,251 sqft
2022-07-01 46 days 2,236 sqft
2022-08-01 53 days 2,199 sqft
2022-09-01 50 days 2,211 sqft
2022-10-01 46 days 2,207 sqft
2022-11-01 53 days 2,197 sqft
2022-12-01 65 days 2,218 sqft
2023-01-01 83 days 2,235 sqft
2023-02-01 80 days 2,261 sqft
2023-03-01 49 days 2,275 sqft
2023-04-01 44 days 2,227 sqft
2023-05-01 50 days 2,255 sqft
2023-06-01 56 days 2,252 sqft
2023-07-01 57 days 2,247 sqft
2023-08-01 48 days 2,251 sqft
2023-09-01 53 days 2,263 sqft
2023-10-01 51 days 2,245 sqft
2023-11-01 59 days 2,234 sqft
2023-12-01 73 days 2,251 sqft
Charlottesville's median listing age (time on market) for 2023-12-01 was 73 days. This is 12% longer than the same period one year ago.

Charlottesville's median square footage for active listings during the 2023-12-01 period was 2,251 sqft. One year prior, the average listing was 2,218 sqft.