Chico USDA Loan Rates, Closing Costs & Stats

CHICO, CA

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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.

    Chico's 10 lenders originated 17 USDA loans during 2022. The total origination value was $4,855,000, with an average USDA loan value of $285,588.

    Chico USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Chico averaged 6.04% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

    Chico's average USDA mortgage closing costs are $7,170.

    The average rate for the prior week (2023-05-19) was 5.98% and one month ago for the week of 2023-04-21, the average rate was 6.19%.

    The average rate one year ago was 5.01%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.35%.

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

    Chico 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 Chico level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Commerce Home Mortgage, Inc. 6 3.52% $9,104
    HOME POINT FINANCIAL CORPORATION 2 4.31% $8,716
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.49% $8,365
    FINANCE OF AMERICA MORTGAGE LLC 1 3.63% $6,010
    MOUNTAIN WEST FINANCIAL, INC. 1 2.63% $20,542
    NEWREZ LLC 1 2.50% $11,771
    Paramount Residential Mortgage Group, Inc. 1 6.25% $8,891
    ACADEMY MORTGAGE CORPORATION 1 3.75% $13,675
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 3.99% $7,332
    CORNERSTONE HOME LENDING, INC. 1 5.13% $9,091

    The top Chico USDA lender as defined by loan originations is Commerce Home Mortgage, Inc., with 6 USDA loans originated. Their average total fees are $9,104, which is $387 higher than the next largest lender, HOME POINT FINANCIAL CORPORATION.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Chico (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 $287,450 (-0.1%) $381,482 (10.3%) 1.07 415
    2018-02-01 $293,750 (2.1%) $380,820 (7.5%) 1.07 421
    2018-03-01 $329,000 (14.3%) $409,710 (16.5%) 1.15 470
    2018-04-01 $324,950 (12.4%) $390,656 (5.7%) 1.10 520
    2018-05-01 $329,625 (12.6%) $394,507 (4.5%) 1.10 588
    2018-06-01 $319,450 (9.8%) $383,082 (4.3%) 1.07 629
    2018-07-01 $323,575 (12.4%) $387,376 (7.5%) 1.08 680
    2018-08-01 $316,375 (9.9%) $376,846 (3.3%) 1.06 711
    2018-09-01 $315,500 (9.6%) $366,600 (-1.6%) 1.06 731
    2018-10-01 $312,500 (8.3%) $367,177 (-1.3%) 1.06 726
    2018-11-01 $302,438 (5.1%) $370,054 (0.0%) 1.03 574
    2018-12-01 $329,000 (14.3%) $392,817 (4.0%) 1.13 342
    2019-01-01 $334,500 (16.4%) $391,323 (2.6%) 1.16 396
    2019-02-01 $332,500 (13.2%) $383,801 (0.8%) 1.12 413
    2019-03-01 $344,000 (4.6%) $397,726 (-2.9%) 1.15 382
    2019-04-01 $364,000 (12.0%) $416,002 (6.5%) 1.16 401
    2019-05-01 $370,000 (12.3%) $427,159 (8.3%) 1.16 499
    2019-06-01 $369,000 (15.5%) $424,173 (10.7%) 1.15 554
    2019-07-01 $358,255 (10.7%) $421,912 (8.9%) 1.12 613
    2019-08-01 $355,000 (12.2%) $431,978 (14.6%) 1.11 622
    2019-09-01 $352,500 (11.7%) $422,774 (15.3%) 1.11 557
    2019-10-01 $350,000 (12.0%) $420,825 (14.6%) 1.13 585
    2019-11-01 $349,500 (15.6%) $423,281 (14.4%) 1.15 528
    2019-12-01 $351,715 (6.9%) $431,692 (9.9%) 1.17 464
    2020-01-01 $362,500 (8.4%) $445,568 (13.9%) 1.21 389
    2020-02-01 $379,500 (14.1%) $440,942 (14.9%) 1.24 351
    2020-03-01 $389,000 (13.1%) $454,168 (14.2%) 1.22 346
    2020-04-01 $399,000 (9.6%) $466,651 (12.2%) 1.25 347
    2020-05-01 $418,000 (13.0%) $474,953 (11.2%) 1.27 364
    2020-06-01 $424,000 (14.9%) $475,467 (12.1%) 1.25 345
    2020-07-01 $405,000 (13.1%) $481,051 (14.0%) 1.17 305
    2020-08-01 $417,000 (17.5%) $480,119 (11.1%) 1.19 307
    2020-09-01 $399,750 (13.4%) $473,628 (12.0%) 1.15 288
    2020-10-01 $398,000 (13.7%) $460,962 (9.5%) 1.14 308
    2020-11-01 $389,225 (11.4%) $456,687 (7.9%) 1.14 321
    2020-12-01 $399,000 (13.4%) $459,965 (6.6%) 1.19 265
    2021-01-01 $399,550 (10.2%) $465,300 (4.4%) 1.19 243
    2021-02-01 $421,613 (11.1%) $511,874 (16.1%) 1.23 234
    2021-03-01 $417,500 (7.3%) $514,341 (13.3%) 1.18 233
    2021-04-01 $430,250 (7.8%) $547,253 (17.3%) 1.16 224
    2021-05-01 $450,000 (7.7%) $562,981 (18.5%) 1.19 236
    2021-06-01 $452,250 (6.7%) $564,564 (18.7%) 1.19 252
    2021-07-01 $447,000 (10.4%) $550,888 (14.5%) 1.18 282
    2021-08-01 $433,750 (4.0%) $510,201 (6.3%) 1.16 312
    2021-09-01 $437,450 (9.4%) $502,209 (6.0%) 1.17 317
    2021-10-01 $449,000 (12.8%) $541,429 (17.5%) 1.20 324
    2021-11-01 $450,000 (15.6%) $555,696 (21.7%) 1.20 287
    2021-12-01 $449,000 (12.5%) $543,274 (18.1%) 1.22 245
    2022-01-01 $442,500 (10.8%) $541,457 (16.4%) 1.20 198
    2022-02-01 $449,950 (6.7%) $535,830 (4.7%) 1.17 211
    2022-03-01 $449,225 (7.6%) $523,628 (1.8%) 1.12 226
    2022-04-01 $480,000 (11.6%) $553,553 (1.2%) 1.14 264
    2022-05-01 $472,000 (4.9%) $888,874 (57.9%) 1.08 341
    2022-06-01 $468,750 (3.7%) $547,222 (-3.1%) 1.04 391
    2022-07-01 $455,000 (1.8%) $532,510 (-3.3%) 1.03 482
    2022-08-01 $457,450 (5.5%) $529,080 (3.7%) 1.06 523
    2022-09-01 $450,000 (2.9%) $517,905 (3.1%) 1.05 509
    2022-10-01 $444,700 (-1.0%) $515,769 (-4.7%) 1.05 509
    2022-11-01 $434,950 (-3.3%) $510,628 (-8.1%) 1.04 480
    2022-12-01 $435,000 (-3.1%) $513,784 (-5.4%) 1.07 446
    2023-01-01 $422,481 (-4.5%) $506,691 (-6.4%) 1.05 382
    2023-02-01 $427,113 (-5.1%) $519,039 (-3.1%) 1.03 342
    2023-03-01 $431,175 (-4.0%) $518,304 (-1.0%) 1.02 318
    2023-04-01 $436,500 (-9.1%) $521,999 (-5.7%) 1.02 302
    Chico's median listing price for 2023-04-01 was $436,500, a difference of $-43,500 (-9.1%) versus the prior year and $5,325 versus the prior month.

    Chico's median listing price comes in at 102% of the national average.

    Chico's average listing price for 2023-04-01 was $521,999, a difference of $-31,554 (-5.7%) versus the prior year and $3,695 versus the prior month.

    For the 2023-04-01 period, Chico had 302 MLS listings, a difference of -16 listings (-5%) versus the prior month and 38 listings (14%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Chico (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 59 days 1,621 sqft
    2018-02-01 41 days 1,610 sqft
    2018-03-01 33 days 1,694 sqft
    2018-04-01 39 days 1,667 sqft
    2018-05-01 35 days 1,709 sqft
    2018-06-01 37 days 1,687 sqft
    2018-07-01 40 days 1,673 sqft
    2018-08-01 46 days 1,639 sqft
    2018-09-01 50 days 1,615 sqft
    2018-10-01 54 days 1,615 sqft
    2018-11-01 56 days 1,629 sqft
    2018-12-01 25 days 1,615 sqft
    2019-01-01 30 days 1,593 sqft
    2019-02-01 32 days 1,556 sqft
    2019-03-01 45 days 1,571 sqft
    2019-04-01 44 days 1,613 sqft
    2019-05-01 37 days 1,639 sqft
    2019-06-01 39 days 1,684 sqft
    2019-07-01 46 days 1,699 sqft
    2019-08-01 54 days 1,724 sqft
    2019-09-01 64 days 1,710 sqft
    2019-10-01 60 days 1,694 sqft
    2019-11-01 65 days 1,714 sqft
    2019-12-01 77 days 1,715 sqft
    2020-01-01 78 days 1,710 sqft
    2020-02-01 80 days 1,712 sqft
    2020-03-01 62 days 1,755 sqft
    2020-04-01 64 days 1,833 sqft
    2020-05-01 66 days 1,855 sqft
    2020-06-01 58 days 1,865 sqft
    2020-07-01 64 days 1,857 sqft
    2020-08-01 58 days 1,830 sqft
    2020-09-01 57 days 1,756 sqft
    2020-10-01 56 days 1,748 sqft
    2020-11-01 53 days 1,750 sqft
    2020-12-01 76 days 1,754 sqft
    2021-01-01 84 days 1,743 sqft
    2021-02-01 70 days 1,728 sqft
    2021-03-01 54 days 1,709 sqft
    2021-04-01 48 days 1,729 sqft
    2021-05-01 38 days 1,791 sqft
    2021-06-01 42 days 1,755 sqft
    2021-07-01 40 days 1,729 sqft
    2021-08-01 46 days 1,702 sqft
    2021-09-01 52 days 1,713 sqft
    2021-10-01 45 days 1,731 sqft
    2021-11-01 51 days 1,729 sqft
    2021-12-01 54 days 1,698 sqft
    2022-01-01 57 days 1,626 sqft
    2022-02-01 36 days 1,655 sqft
    2022-03-01 35 days 1,646 sqft
    2022-04-01 33 days 1,722 sqft
    2022-05-01 36 days 1,732 sqft
    2022-06-01 37 days 1,714 sqft
    2022-07-01 39 days 1,693 sqft
    2022-08-01 47 days 1,711 sqft
    2022-09-01 59 days 1,690 sqft
    2022-10-01 66 days 1,680 sqft
    2022-11-01 65 days 1,709 sqft
    2022-12-01 75 days 1,712 sqft
    2023-01-01 86 days 1,705 sqft
    2023-02-01 82 days 1,709 sqft
    2023-03-01 78 days 1,676 sqft
    2023-04-01 61 days 1,674 sqft
    Chico's median listing age (time on market) for 2023-04-01 was 61 days. This is 85% longer than the same period one year ago.

    Chico's median square footage for active listings during the 2023-04-01 period was 1,674 sqft. One year prior, the average listing was 1,722 sqft.