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%.
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. LouisDate | 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 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. LouisDate | 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 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.