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 17 lenders originated 28 USDA loans during 2023. The total origination value was $7,460,000, with an average USDA loan value of $266,429.

Charlottesville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Charlottesville averaged -0.34% for the week of 2024-06-21, compared to the national average (all USDA variants) of 0% for the same period.

Charlottesville's average USDA mortgage closing costs are $6,183.

The average rate for the prior week (2024-06-14) was 6.44% and one month ago for the week of 2024-05-17, the average rate was 6.48%.

The average rate one year ago was 6.26%.

For refis of the same type during the week of 2024-06-21, the average rate was 0.42%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 5 6.33% $10,826
UNITED WHOLESALE MORTGAGE, LLC 3 6.41% $8,104
CBM Mortgage, Inc. 2 6.63% $7,905
C & F Mortgage Corporation 2 7.19% $5,592
Waterstone Mortgage Corporation 2 6.63% $11,935
Atlantic Coast Mortgage, LLC 2 6.13% $9,381
Integrity Home Mortgage Corp 2 6.38% $7,466
GUILD MORTGAGE COMPANY 1 5.63% $5,791
Alcova Mortgage LLC 1 7.00% $7,704
INTERCOASTAL MORTGAGE COMPANY 1 6.13% $8,109
NATION ONE MORTGAGE CORPORATION 1 6.75% $6,768
NVR Mortgage Finance, Inc. 1 5.99% $9,478
PLAZA HOME MORTGAGE, INC. 1 7.25% $7,150
Towne First Mortgage, LLC 1 6.13% $7,512
FIRST HOME MORTGAGE CORPORATION 1 5.50% $7,409
Virginia Credit Union, Inc. 1 6.63% $4,434
GUARANTY HOME MORTGAGE CORPORATION 1 6.63% $6,641

The top Charlottesville USDA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 5 USDA loans originated. Their average total fees are $10,826, which is $2,723 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

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 $409,200 (5.0%) $578,450 (3.2%) 1.52 1,068
2018-02-01 $399,945 (0.5%) $563,578 (-2.1%) 1.45 1,101
2018-03-01 $399,900 (1.0%) $590,366 (-0.3%) 1.40 1,258
2018-04-01 $399,900 (0.0%) $575,962 (-2.6%) 1.36 1,388
2018-05-01 $399,900 (-2.4%) $572,488 (-3.7%) 1.34 1,473
2018-06-01 $399,900 (-2.2%) $582,012 (-1.3%) 1.33 1,503
2018-07-01 $399,900 (-2.4%) $572,696 (-2.2%) 1.34 1,485
2018-08-01 $399,347 (-3.4%) $603,095 (4.8%) 1.34 1,460
2018-09-01 $398,000 (-4.1%) $582,835 (0.6%) 1.34 1,490
2018-10-01 $393,700 (-7.4%) $582,405 (-1.3%) 1.33 1,503
2018-11-01 $399,000 (-4.9%) $585,685 (2.0%) 1.35 1,357
2018-12-01 $389,700 (-5.0%) $549,319 (-4.7%) 1.34 1,187
2019-01-01 $393,150 (-3.9%) $562,016 (-2.8%) 1.36 1,109
2019-02-01 $403,450 (0.9%) $588,276 (4.4%) 1.36 1,140
2019-03-01 $426,900 (6.8%) $610,035 (3.3%) 1.40 1,266
2019-04-01 $434,713 (8.7%) $633,982 (10.1%) 1.38 1,395
2019-05-01 $443,673 (11.0%) $637,302 (11.3%) 1.39 1,464
2019-06-01 $429,900 (7.5%) $609,006 (4.6%) 1.34 1,466
2019-07-01 $429,900 (7.5%) $615,246 (7.4%) 1.35 1,454
2019-08-01 $429,723 (7.6%) $612,841 (1.6%) 1.36 1,438
2019-09-01 $429,457 (7.9%) $607,101 (4.2%) 1.37 1,436
2019-10-01 $429,405 (9.1%) $592,128 (1.7%) 1.39 1,427
2019-11-01 $425,000 (6.5%) $584,417 (-0.2%) 1.39 1,299
2019-12-01 $424,950 (9.1%) $588,754 (7.2%) 1.42 1,121
2020-01-01 $439,975 (11.9%) $617,976 (10.0%) 1.47 1,023
2020-02-01 $449,000 (11.3%) $635,712 (8.1%) 1.47 1,045
2020-03-01 $452,047 (5.9%) $634,215 (4.0%) 1.42 1,107
2020-04-01 $454,440 (4.5%) $639,735 (0.9%) 1.42 1,115
2020-05-01 $467,900 (5.5%) $646,925 (1.5%) 1.42 1,118
2020-06-01 $476,925 (10.9%) $663,621 (9.0%) 1.41 1,016
2020-07-01 $481,350 (12.0%) $670,189 (8.9%) 1.40 953
2020-08-01 $479,900 (11.7%) $697,131 (13.8%) 1.38 855
2020-09-01 $494,450 (15.1%) $720,472 (18.7%) 1.42 781
2020-10-01 $490,000 (14.1%) $722,449 (22.0%) 1.40 739
2020-11-01 $490,700 (15.5%) $828,535 (41.8%) 1.43 675
2020-12-01 $486,950 (14.6%) $830,720 (41.1%) 1.45 573
2021-01-01 $488,900 (11.1%) $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%) $904,344 (42.6%) 1.42 454
2021-04-01 $492,125 (8.3%) $896,678 (40.2%) 1.33 440
2021-05-01 $478,000 (2.2%) $878,177 (35.8%) 1.27 472
2021-06-01 $487,695 (2.3%) $793,274 (19.5%) 1.28 471
2021-07-01 $464,990 (-3.4%) $745,394 (11.2%) 1.23 491
2021-08-01 $459,950 (-4.2%) $752,198 (7.9%) 1.23 487
2021-09-01 $482,423 (-2.4%) $768,755 (6.7%) 1.29 491
2021-10-01 $499,000 (1.8%) $846,243 (17.1%) 1.33 447
2021-11-01 $510,525 (4.0%) $904,703 (9.2%) 1.36 375
2021-12-01 $499,950 (2.7%) $881,793 (6.2%) 1.35 330
2022-01-01 $544,329 (11.3%) $985,848 (13.3%) 1.47 268
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%) 1.22 342
2022-05-01 $509,210 (6.5%) $869,875 (-1.0%) 1.16 444
2022-06-01 $519,728 (6.6%) $900,578 (13.5%) 1.16 485
2022-07-01 $507,691 (9.2%) $924,316 (24.0%) 1.14 532
2022-08-01 $499,935 (8.7%) $886,019 (17.8%) 1.16 507
2022-09-01 $498,875 (3.4%) $874,690 (13.8%) 1.17 517
2022-10-01 $499,900 (0.2%) $893,372 (5.6%) 1.18 552
2022-11-01 $499,495 (-2.2%) $874,769 (-3.3%) 1.20 553
2022-12-01 $524,900 (5.0%) $883,168 (0.2%) 1.30 509
2023-01-01 $542,400 (-0.4%) $908,840 (-7.8%) 1.34 462
2023-02-01 $569,850 (2.9%) $956,763 (-2.4%) 1.38 451
2023-03-01 $584,900 (13.4%) $941,523 (8.5%) 1.38 471
2023-04-01 $567,450 (11.3%) $898,399 (4.7%) 1.32 525
2023-05-01 $562,000 (10.4%) $877,460 (0.9%) 1.27 519
2023-06-01 $569,194 (9.5%) $897,792 (-0.3%) 1.28 514
2023-07-01 $574,900 (13.2%) $885,060 (-4.3%) 1.31 500
2023-08-01 $571,975 (14.4%) $886,459 (0.1%) 1.31 494
2023-09-01 $550,000 (10.3%) $882,464 (0.9%) 1.28 508
2023-10-01 $550,000 (10.0%) $876,953 (-1.8%) 1.29 540
2023-11-01 $562,043 (12.5%) $857,212 (-2.0%) 1.34 542
2023-12-01 $559,990 (6.7%) $834,702 (-5.5%) 1.37 478
2024-01-01 $566,304 (4.4%) $827,949 (-8.9%) 1.38 436
2024-02-01 $562,400 (-1.3%) $866,679 (-9.4%) 1.35 438
2024-03-01 $594,925 (1.7%) $932,244 (-1.0%) 1.40 454
2024-04-01 $587,042 (3.5%) $934,480 (4.0%) 1.37 489
2024-05-01 $626,225 (11.4%) $1,036,376 (18.1%) 1.42 520
Charlottesville's median listing price for 2024-05-01 was $626,225, a difference of $64,225 (11.4%) versus the prior year and $39,183 versus the prior month.

Charlottesville's median listing price comes in at 142% of the national average.

Charlottesville's average listing price for 2024-05-01 was $1,036,376, a difference of $158,916 (18.1%) versus the prior year and $101,896 versus the prior month.

For the 2024-05-01 period, Charlottesville had 520 MLS listings, a difference of 31 listings (6%) versus the prior month and 1 listings (0%) 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
2018-01-01 106 days 2,387 sqft
2018-02-01 83 days 2,358 sqft
2018-03-01 53 days 2,368 sqft
2018-04-01 51 days 2,370 sqft
2018-05-01 55 days 2,388 sqft
2018-06-01 65 days 2,375 sqft
2018-07-01 80 days 2,372 sqft
2018-08-01 87 days 2,365 sqft
2018-09-01 90 days 2,347 sqft
2018-10-01 92 days 2,361 sqft
2018-11-01 95 days 2,364 sqft
2018-12-01 105 days 2,294 sqft
2019-01-01 111 days 2,309 sqft
2019-02-01 103 days 2,359 sqft
2019-03-01 75 days 2,397 sqft
2019-04-01 53 days 2,407 sqft
2019-05-01 58 days 2,441 sqft
2019-06-01 71 days 2,401 sqft
2019-07-01 77 days 2,412 sqft
2019-08-01 80 days 2,419 sqft
2019-09-01 80 days 2,427 sqft
2019-10-01 81 days 2,432 sqft
2019-11-01 86 days 2,392 sqft
2019-12-01 99 days 2,336 sqft
2020-01-01 107 days 2,347 sqft
2020-02-01 98 days 2,408 sqft
2020-03-01 61 days 2,445 sqft
2020-04-01 61 days 2,438 sqft
2020-05-01 72 days 2,480 sqft
2020-06-01 85 days 2,519 sqft
2020-07-01 87 days 2,494 sqft
2020-08-01 73 days 2,500 sqft
2020-09-01 70 days 2,464 sqft
2020-10-01 66 days 2,415 sqft
2020-11-01 67 days 2,404 sqft
2020-12-01 85 days 2,402 sqft
2021-01-01 94 days 2,315 sqft
2021-02-01 77 days 2,328 sqft
2021-03-01 49 days 2,288 sqft
2021-04-01 44 days 2,304 sqft
2021-05-01 41 days 2,315 sqft
2021-06-01 48 days 2,320 sqft
2021-07-01 45 days 2,263 sqft
2021-08-01 50 days 2,248 sqft
2021-09-01 51 days 2,276 sqft
2021-10-01 62 days 2,281 sqft
2021-11-01 64 days 2,255 sqft
2021-12-01 68 days 2,286 sqft
2022-01-01 80 days 2,310 sqft
2022-02-01 52 days 2,274 sqft
2022-03-01 34 days 2,182 sqft
2022-04-01 32 days 2,162 sqft
2022-05-01 34 days 2,221 sqft
2022-06-01 39 days 2,253 sqft
2022-07-01 45 days 2,239 sqft
2022-08-01 52 days 2,205 sqft
2022-09-01 51 days 2,213 sqft
2022-10-01 46 days 2,207 sqft
2022-11-01 53 days 2,198 sqft
2022-12-01 64 days 2,220 sqft
2023-01-01 82 days 2,242 sqft
2023-02-01 80 days 2,265 sqft
2023-03-01 50 days 2,278 sqft
2023-04-01 44 days 2,230 sqft
2023-05-01 51 days 2,255 sqft
2023-06-01 56 days 2,250 sqft
2023-07-01 57 days 2,247 sqft
2023-08-01 48 days 2,250 sqft
2023-09-01 52 days 2,259 sqft
2023-10-01 51 days 2,241 sqft
2023-11-01 59 days 2,233 sqft
2023-12-01 72 days 2,249 sqft
2024-01-01 81 days 2,232 sqft
2024-02-01 51 days 2,220 sqft
2024-03-01 43 days 2,265 sqft
2024-04-01 41 days 2,242 sqft
2024-05-01 41 days 2,298 sqft
Charlottesville's median listing age (time on market) for 2024-05-01 was 41 days. This is -20% shorter than the same period one year ago.

Charlottesville's median square footage for active listings during the 2024-05-01 period was 2,298 sqft. One year prior, the average listing was 2,255 sqft.