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
6.72%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Charlottesville's average USDA mortgage closing costs are $6,183.
The average rate for the prior week (2024-04-12) was
6.37% and
one month ago for the week of 2024-03-15, the
average rate was 6.26%.
The average rate one year ago was 6.1%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.28%.
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 |
Charlottesville's median listing price comes in at 140% of the national average.
Charlottesville's average listing price for 2024-03-01 was $932,244, a difference of $-9,279 (-1.0%) versus the prior year and $65,565 versus the prior month.
For the 2024-03-01 period, Charlottesville had 454 MLS listings, a difference of 16 listings (4%) versus the prior month and -17 listings (-4%) 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 |
Charlottesville's median square footage for active listings during the 2024-03-01 period was 2,265 sqft. One year prior, the average listing was 2,278 sqft.