Charlottesville USDA Loans
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 46 lenders originated 175 USDA loans during 2021. The total origination value was $43,865,000, with an average USDA loan value of $250,657.
Charlottesville USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Charlottesville
averaged
5.02%
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
5.35% and
one month ago for the week of 2022-04-08, the
average rate was 5.02%.
The average rate one year ago was 3.03%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.04%.
Charlottesville 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 Charlottesville level.
The top Charlottesville USDA lender as defined by loan originations is Atlantic Coast Mortgage, LLC, with
17 USDA loans originated. Their average total fees are
$6,137, which is $581
lower than the next largest lender,
ATLANTIC BAY MORTGAGE GROUP, L.L.C..
The lowest fee Charlottesville USDA lenders (with over 10 loans originated) are
Alcova Mortgage LLC ($4,236), Atlantic Coast Mortgage, LLC ($6,137), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($6,718), Waterstone Mortgage Corporation ($8,133) and .
The lowest rate Charlottesville USDA lenders (with over 10 loans originated) are
Waterstone Mortgage Corporation (2.60%), Atlantic Coast Mortgage, LLC (2.80%), Alcova Mortgage LLC (2.91%), ATLANTIC BAY MORTGAGE GROUP, L.L.C. (3.12%) and .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Charlottesville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $386,500 (1.1%) | $578,823 (2.7%) | 1.42 | 1,257 |
2018-02-01 | $387,450 (-0.6%) | $572,887 (-0.5%) | 1.40 | 1,293 |
2018-03-01 | $389,000 (-0.2%) | $601,258 (1.0%) | 1.35 | 1,464 |
2018-04-01 | $389,900 (-1.3%) | $581,823 (-2.2%) | 1.31 | 1,603 |
2018-05-01 | $392,500 (-1.7%) | $576,611 (-4.0%) | 1.31 | 1,689 |
2018-06-01 | $389,000 (-2.6%) | $579,774 (-2.3%) | 1.30 | 1,723 |
2018-07-01 | $385,000 (-3.5%) | $571,126 (-2.6%) | 1.28 | 1,694 |
2018-08-01 | $382,500 (-3.9%) | $606,401 (7.9%) | 1.28 | 1,667 |
2018-09-01 | $384,900 (-2.8%) | $640,833 (13.3%) | 1.29 | 1,690 |
2018-10-01 | $384,925 (-3.5%) | $591,106 (1.8%) | 1.29 | 1,704 |
2018-11-01 | $389,000 (-2.0%) | $592,151 (2.7%) | 1.30 | 1,552 |
2018-12-01 | $379,000 (-1.6%) | $548,215 (-3.6%) | 1.30 | 1,363 |
2019-01-01 | $382,950 (-0.9%) | $568,030 (-1.9%) | 1.32 | 1,267 |
2019-02-01 | $397,450 (2.6%) | $599,263 (4.6%) | 1.33 | 1,292 |
2019-03-01 | $414,900 (6.7%) | $622,915 (3.6%) | 1.35 | 1,409 |
2019-04-01 | $429,900 (10.3%) | $644,044 (10.7%) | 1.35 | 1,539 |
2019-05-01 | $434,450 (10.7%) | $657,549 (14.0%) | 1.34 | 1,624 |
2019-06-01 | $424,900 (9.2%) | $623,320 (7.5%) | 1.31 | 1,624 |
2019-07-01 | $418,121 (8.6%) | $620,539 (8.7%) | 1.30 | 1,618 |
2019-08-01 | $417,995 (9.3%) | $618,775 (2.0%) | 1.32 | 1,601 |
2019-09-01 | $418,874 (8.8%) | $609,941 (-4.8%) | 1.33 | 1,580 |
2019-10-01 | $426,698 (10.9%) | $601,618 (1.8%) | 1.36 | 1,584 |
2019-11-01 | $425,000 (9.3%) | $597,187 (0.9%) | 1.37 | 1,448 |
2019-12-01 | $424,900 (12.1%) | $608,554 (11.0%) | 1.42 | 1,262 |
2020-01-01 | $439,945 (14.9%) | $623,318 (9.7%) | 1.47 | 1,164 |
2020-02-01 | $449,000 (13.0%) | $647,662 (8.1%) | 1.45 | 1,192 |
2020-03-01 | $459,945 (10.9%) | $649,434 (4.3%) | 1.44 | 1,264 |
2020-04-01 | $461,495 (7.4%) | $657,420 (2.1%) | 1.44 | 1,278 |
2020-05-01 | $475,000 (9.3%) | $672,121 (2.2%) | 1.44 | 1,257 |
2020-06-01 | $487,400 (14.7%) | $686,173 (10.1%) | 1.42 | 1,142 |
2020-07-01 | $499,250 (19.4%) | $704,126 (13.5%) | 1.43 | 1,074 |
2020-08-01 | $489,900 (17.2%) | $726,194 (17.4%) | 1.40 | 977 |
2020-09-01 | $512,500 (22.4%) | $764,632 (25.4%) | 1.46 | 867 |
2020-10-01 | $509,900 (19.5%) | $761,488 (26.6%) | 1.46 | 815 |
2020-11-01 | $494,950 (16.5%) | $845,430 (41.6%) | 1.42 | 758 |
2020-12-01 | $489,450 (15.2%) | $843,717 (38.6%) | 1.44 | 639 |
2021-01-01 | $489,900 (11.4%) | $869,276 (39.5%) | 1.44 | 551 |
2021-02-01 | $522,500 (16.4%) | $920,103 (42.1%) | 1.50 | 454 |
2021-03-01 | $499,900 (8.7%) | $899,005 (38.4%) | 1.40 | 488 |
2021-04-01 | $492,450 (6.7%) | $918,336 (39.7%) | 1.32 | 474 |
2021-05-01 | $474,900 (0.0%) | $864,233 (28.6%) | 1.25 | 503 |
2021-06-01 | $472,450 (-3.1%) | $798,917 (16.4%) | 1.23 | 515 |
2021-07-01 | $452,839 (-9.3%) | $720,594 (2.3%) | 1.18 | 536 |
2021-08-01 | $449,950 (-8.2%) | $728,740 (0.4%) | 1.18 | 538 |
2021-09-01 | $461,995 (-9.9%) | $741,516 (-3.0%) | 1.22 | 550 |
2021-10-01 | $482,500 (-5.4%) | $838,375 (10.1%) | 1.27 | 492 |
2021-11-01 | $492,500 (-0.5%) | $875,159 (3.5%) | 1.30 | 428 |
2021-12-01 | $485,405 (-0.8%) | $864,497 (2.5%) | 1.29 | 377 |
2022-01-01 | $509,900 (4.1%) | $982,342 (13.0%) | 1.36 | 300 |
2022-02-01 | $540,323 (3.4%) | $985,229 (7.1%) | 1.38 | 285 |
2022-03-01 | $514,450 (2.9%) | $893,932 (-0.6%) | 1.27 | 323 |
2022-04-01 | $499,500 (1.4%) | $884,377 (-3.7%) | 1.18 | 372 |
Charlottesville's median listing price comes in at 118% of the national average.
Charlottesville's average listing price for 2022-04-01 was $884,377, a difference of $-33,959 (-3.7%) versus the prior year and $-9,555 versus the prior month.
For the 2022-04-01 period, Charlottesville had 372 MLS listings, a difference of 49 listings (15%) versus the prior month and -102 listings (-22%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Charlottesville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 118 days | 2,323 sqft |
2018-02-01 | 105 days | 2,321 sqft |
2018-03-01 | 68 days | 2,348 sqft |
2018-04-01 | 62 days | 2,343 sqft |
2018-05-01 | 67 days | 2,363 sqft |
2018-06-01 | 77 days | 2,352 sqft |
2018-07-01 | 92 days | 2,350 sqft |
2018-08-01 | 96 days | 2,343 sqft |
2018-09-01 | 103 days | 2,344 sqft |
2018-10-01 | 109 days | 2,370 sqft |
2018-11-01 | 113 days | 2,363 sqft |
2018-12-01 | 124 days | 2,290 sqft |
2019-01-01 | 128 days | 2,304 sqft |
2019-02-01 | 129 days | 2,358 sqft |
2019-03-01 | 81 days | 2,401 sqft |
2019-04-01 | 63 days | 2,416 sqft |
2019-05-01 | 67 days | 2,445 sqft |
2019-06-01 | 79 days | 2,400 sqft |
2019-07-01 | 88 days | 2,408 sqft |
2019-08-01 | 94 days | 2,438 sqft |
2019-09-01 | 95 days | 2,446 sqft |
2019-10-01 | 92 days | 2,462 sqft |
2019-11-01 | 94 days | 2,417 sqft |
2019-12-01 | 105 days | 2,393 sqft |
2020-01-01 | 119 days | 2,425 sqft |
2020-02-01 | 115 days | 2,453 sqft |
2020-03-01 | 68 days | 2,491 sqft |
2020-04-01 | 69 days | 2,463 sqft |
2020-05-01 | 80 days | 2,539 sqft |
2020-06-01 | 93 days | 2,616 sqft |
2020-07-01 | 101 days | 2,606 sqft |
2020-08-01 | 86 days | 2,588 sqft |
2020-09-01 | 78 days | 2,599 sqft |
2020-10-01 | 73 days | 2,500 sqft |
2020-11-01 | 72 days | 2,411 sqft |
2020-12-01 | 86 days | 2,434 sqft |
2021-01-01 | 95 days | 2,325 sqft |
2021-02-01 | 85 days | 2,402 sqft |
2021-03-01 | 51 days | 2,305 sqft |
2021-04-01 | 47 days | 2,323 sqft |
2021-05-01 | 47 days | 2,320 sqft |
2021-06-01 | 49 days | 2,362 sqft |
2021-07-01 | 48 days | 2,281 sqft |
2021-08-01 | 48 days | 2,250 sqft |
2021-09-01 | 51 days | 2,273 sqft |
2021-10-01 | 58 days | 2,256 sqft |
2021-11-01 | 59 days | 2,245 sqft |
2021-12-01 | 68 days | 2,222 sqft |
2022-01-01 | 84 days | 2,265 sqft |
2022-02-01 | 70 days | 2,235 sqft |
2022-03-01 | 39 days | 2,159 sqft |
2022-04-01 | 36 days | 2,158 sqft |
Charlottesville's median square footage for active listings during the 2022-04-01 period was 2,158 sqft. One year prior, the average listing was 2,323 sqft.