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 -0.19% for the week of 2024-02-23, compared to the national average (all USDA variants) of 0% for the same period.

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

The average rate for the prior week (2024-02-16) was 6.49% and one month ago for the week of 2024-01-19, the average rate was 6.07%.

The average rate one year ago was 5.78%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.38%.

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%) $394,542 (4.6%) 1.10 588
2018-06-01 $319,000 (9.6%) $383,183 (4.3%) 1.06 628
2018-07-01 $323,475 (12.4%) $387,403 (7.5%) 1.08 679
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%) $391,621 (2.7%) 1.16 395
2019-02-01 $333,125 (13.4%) $384,086 (0.9%) 1.13 412
2019-03-01 $346,714 (5.4%) $397,138 (-3.1%) 1.13 388
2019-04-01 $366,214 (12.7%) $416,363 (6.6%) 1.16 400
2019-05-01 $370,000 (12.3%) $427,475 (8.4%) 1.16 498
2019-06-01 $369,000 (15.7%) $424,173 (10.7%) 1.15 554
2019-07-01 $358,255 (10.8%) $421,912 (8.9%) 1.12 613
2019-08-01 $355,462 (12.4%) $421,463 (11.8%) 1.13 629
2019-09-01 $352,390 (11.7%) $421,589 (15.0%) 1.13 613
2019-10-01 $350,000 (12.0%) $421,673 (14.8%) 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 (13.8%) 1.21 389
2020-02-01 $379,500 (13.9%) $440,942 (14.8%) 1.24 351
2020-03-01 $389,000 (12.2%) $454,168 (14.4%) 1.22 346
2020-04-01 $399,000 (9.0%) $466,651 (12.1%) 1.25 347
2020-05-01 $418,000 (13.0%) $474,953 (11.1%) 1.27 364
2020-06-01 $424,000 (14.9%) $475,467 (12.1%) 1.25 345
2020-07-01 $402,500 (12.4%) $479,779 (13.7%) 1.17 305
2020-08-01 $417,000 (17.3%) $480,119 (13.9%) 1.19 307
2020-09-01 $399,750 (13.4%) $473,628 (12.3%) 1.15 288
2020-10-01 $398,000 (13.7%) $460,962 (9.3%) 1.14 308
2020-11-01 $389,000 (11.3%) $456,687 (7.9%) 1.14 321
2020-12-01 $399,000 (13.4%) $459,476 (6.4%) 1.19 266
2021-01-01 $399,500 (10.2%) $464,709 (4.3%) 1.19 244
2021-02-01 $421,875 (11.2%) $511,847 (16.1%) 1.23 234
2021-03-01 $417,500 (7.3%) $514,203 (13.2%) 1.18 233
2021-04-01 $430,250 (7.8%) $547,253 (17.3%) 1.16 224
2021-05-01 $450,000 (7.7%) $562,905 (18.5%) 1.20 236
2021-06-01 $452,250 (6.7%) $564,564 (18.7%) 1.19 252
2021-07-01 $447,000 (11.1%) $550,888 (14.8%) 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 (15.7%) $555,696 (21.7%) 1.20 287
2021-12-01 $449,000 (12.5%) $543,326 (18.3%) 1.22 245
2022-01-01 $442,500 (10.8%) $541,457 (16.5%) 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%) $553,498 (1.1%) 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 $444,900 (-0.9%) $515,680 (-4.8%) 1.05 509
2022-11-01 $434,950 (-3.3%) $510,628 (-8.1%) 1.05 480
2022-12-01 $435,000 (-3.1%) $513,784 (-5.4%) 1.07 446
2023-01-01 $423,000 (-4.4%) $506,806 (-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 $438,500 (-8.7%) $521,388 (-5.8%) 1.02 302
2023-05-01 $429,975 (-8.9%) $519,607 (-41.5%) 0.98 339
2023-06-01 $429,113 (-8.5%) $516,580 (-5.6%) 0.96 359
2023-07-01 $429,925 (-5.5%) $514,767 (-3.3%) 0.98 366
2023-08-01 $433,625 (-5.2%) $521,724 (-1.4%) 1.00 374
2023-09-01 $425,000 (-5.6%) $510,437 (-1.4%) 0.99 406
2023-10-01 $426,975 (-4.0%) $506,339 (-1.8%) 1.00 426
2023-11-01 $439,500 (1.1%) $557,197 (9.1%) 1.05 420
2023-12-01 $431,750 (-0.8%) $541,538 (5.4%) 1.05 360
Chico's median listing price for 2023-12-01 was $431,750, a difference of $-3,250 (-0.8%) versus the prior year and $-7,750 versus the prior month.

Chico's median listing price comes in at 105% of the national average.

Chico's average listing price for 2023-12-01 was $541,538, a difference of $27,754 (5.4%) versus the prior year and $-15,659 versus the prior month.

For the 2023-12-01 period, Chico had 360 MLS listings, a difference of -60 listings (-14%) versus the prior month and -86 listings (-19%) 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 55 days 1,621 sqft
2018-02-01 38 days 1,610 sqft
2018-03-01 31 days 1,694 sqft
2018-04-01 39 days 1,667 sqft
2018-05-01 34 days 1,708 sqft
2018-06-01 36 days 1,681 sqft
2018-07-01 39 days 1,673 sqft
2018-08-01 44 days 1,639 sqft
2018-09-01 48 days 1,615 sqft
2018-10-01 53 days 1,615 sqft
2018-11-01 55 days 1,629 sqft
2018-12-01 25 days 1,615 sqft
2019-01-01 30 days 1,594 sqft
2019-02-01 32 days 1,557 sqft
2019-03-01 40 days 1,588 sqft
2019-04-01 43 days 1,632 sqft
2019-05-01 36 days 1,640 sqft
2019-06-01 38 days 1,684 sqft
2019-07-01 45 days 1,699 sqft
2019-08-01 49 days 1,684 sqft
2019-09-01 54 days 1,684 sqft
2019-10-01 59 days 1,688 sqft
2019-11-01 65 days 1,714 sqft
2019-12-01 75 days 1,715 sqft
2020-01-01 77 days 1,710 sqft
2020-02-01 80 days 1,712 sqft
2020-03-01 60 days 1,755 sqft
2020-04-01 63 days 1,833 sqft
2020-05-01 64 days 1,855 sqft
2020-06-01 54 days 1,865 sqft
2020-07-01 62 days 1,856 sqft
2020-08-01 51 days 1,830 sqft
2020-09-01 55 days 1,756 sqft
2020-10-01 52 days 1,748 sqft
2020-11-01 49 days 1,749 sqft
2020-12-01 72 days 1,753 sqft
2021-01-01 82 days 1,736 sqft
2021-02-01 63 days 1,728 sqft
2021-03-01 54 days 1,708 sqft
2021-04-01 47 days 1,729 sqft
2021-05-01 36 days 1,791 sqft
2021-06-01 40 days 1,755 sqft
2021-07-01 40 days 1,729 sqft
2021-08-01 45 days 1,702 sqft
2021-09-01 51 days 1,713 sqft
2021-10-01 44 days 1,731 sqft
2021-11-01 51 days 1,729 sqft
2021-12-01 53 days 1,702 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 46 days 1,711 sqft
2022-09-01 58 days 1,690 sqft
2022-10-01 65 days 1,680 sqft
2022-11-01 64 days 1,709 sqft
2022-12-01 73 days 1,712 sqft
2023-01-01 82 days 1,707 sqft
2023-02-01 81 days 1,709 sqft
2023-03-01 72 days 1,676 sqft
2023-04-01 59 days 1,674 sqft
2023-05-01 43 days 1,670 sqft
2023-06-01 46 days 1,668 sqft
2023-07-01 51 days 1,653 sqft
2023-08-01 50 days 1,669 sqft
2023-09-01 51 days 1,658 sqft
2023-10-01 55 days 1,638 sqft
2023-11-01 58 days 1,674 sqft
2023-12-01 68 days 1,671 sqft
Chico's median listing age (time on market) for 2023-12-01 was 68 days. This is -7% shorter than the same period one year ago.

Chico's median square footage for active listings during the 2023-12-01 period was 1,671 sqft. One year prior, the average listing was 1,712 sqft.