Chico USDA Loan Rates, Closing Costs & Stats

CHICO, CA

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.