Chico USDA Loans

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 11 lenders originated 17 USDA loans during 2021. The total origination value was $4,645,000, with an average USDA loan value of $273,235.

Chico USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Chico averaged 5.53% for the week of 2022-08-05, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-07-29) was 5.25% and one month ago for the week of 2022-07-01, the average rate was 5.39%.

The average rate one year ago was 3.17%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.03%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Chico level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Commerce Home Mortgage, Inc. 6 2.77% $7,260
Paramount Residential Mortgage Group, Inc. 2 2.31% $8,046
CALIBER HOME LOANS, INC. 1 3.50% $11,495
CORNERSTONE HOME LENDING, INC. 1 3.25% $6,523
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 3.13% $9,137
FINANCE OF AMERICA MORTGAGE LLC 1 3.25% $7,372
MICHIGAN MUTUAL, INC. 1 2.88% $6,218
NEWREZ LLC 1 2.38% $11,936
AXIA FINANCIAL, LLC 1 2.75% $12,400
Sierra Pacific Mortgage Company, Inc. 1 2.25% $4,257
BROKER SOLUTIONS, INC. 1 3.00% $6,564

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 $7,260, which is $786 lower than the next largest lender, Paramount Residential Mortgage Group, Inc..

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%) $383,568 (10.4%) 1.06 422
2018-02-01 $293,475 (2.0%) $384,058 (8.2%) 1.06 430
2018-03-01 $329,500 (14.5%) $417,704 (18.2%) 1.14 484
2018-04-01 $329,745 (13.7%) $397,540 (7.0%) 1.11 544
2018-05-01 $334,050 (13.3%) $398,812 (3.9%) 1.11 610
2018-06-01 $325,000 (9.4%) $388,879 (3.5%) 1.08 649
2018-07-01 $325,500 (12.6%) $391,584 (6.2%) 1.09 708
2018-08-01 $318,000 (10.5%) $379,153 (3.4%) 1.06 737
2018-09-01 $319,000 (10.8%) $370,469 (-0.6%) 1.07 754
2018-10-01 $315,250 (9.0%) $371,183 (-0.7%) 1.05 757
2018-11-01 $308,000 (7.0%) $373,836 (0.7%) 1.03 595
2018-12-01 $339,000 (17.8%) $397,489 (5.1%) 1.16 359
2019-01-01 $344,750 (19.9%) $397,797 (3.7%) 1.19 407
2019-02-01 $339,250 (15.6%) $387,118 (0.8%) 1.14 428
2019-03-01 $352,285 (6.9%) $399,857 (-4.3%) 1.15 405
2019-04-01 $367,785 (11.5%) $415,114 (4.4%) 1.16 412
2019-05-01 $374,500 (12.1%) $423,046 (6.1%) 1.15 517
2019-06-01 $369,500 (13.7%) $423,574 (8.9%) 1.14 588
2019-07-01 $358,500 (10.1%) $439,448 (12.2%) 1.11 632
2019-08-01 $354,291 (11.4%) $456,437 (20.4%) 1.12 648
2019-09-01 $350,536 (9.9%) $456,307 (23.2%) 1.11 630
2019-10-01 $349,950 (11.0%) $455,627 (22.8%) 1.12 617
2019-11-01 $349,000 (13.3%) $423,875 (13.4%) 1.13 559
2019-12-01 $348,883 (2.9%) $432,039 (8.7%) 1.16 495
2020-01-01 $365,000 (5.9%) $443,602 (11.5%) 1.22 418
2020-02-01 $383,000 (12.9%) $451,890 (16.7%) 1.24 374
2020-03-01 $394,500 (12.0%) $472,819 (18.3%) 1.23 372
2020-04-01 $409,750 (11.4%) $481,267 (15.9%) 1.28 371
2020-05-01 $425,000 (13.5%) $490,548 (16.0%) 1.29 377
2020-06-01 $434,000 (17.5%) $493,871 (16.6%) 1.27 359
2020-07-01 $424,650 (18.5%) $503,184 (14.5%) 1.22 317
2020-08-01 $421,500 (19.0%) $501,042 (9.8%) 1.20 316
2020-09-01 $421,000 (20.1%) $506,818 (11.1%) 1.20 297
2020-10-01 $408,460 (16.7%) $496,815 (9.0%) 1.17 323
2020-11-01 $398,500 (14.2%) $477,045 (12.5%) 1.14 335
2020-12-01 $399,999 (14.7%) $485,709 (12.4%) 1.17 273
2021-01-01 $419,900 (15.0%) $495,920 (11.8%) 1.24 255
2021-02-01 $439,000 (14.6%) $571,523 (26.5%) 1.26 245
2021-03-01 $432,250 (9.6%) $576,586 (22.0%) 1.21 243
2021-04-01 $447,450 (9.2%) $588,869 (22.4%) 1.20 236
2021-05-01 $458,000 (7.8%) $583,968 (19.0%) 1.21 246
2021-06-01 $452,000 (4.2%) $578,436 (17.1%) 1.17 262
2021-07-01 $439,000 (3.4%) $556,376 (10.6%) 1.14 292
2021-08-01 $425,000 (0.8%) $506,350 (1.1%) 1.12 325
2021-09-01 $435,450 (3.4%) $500,840 (-1.2%) 1.15 329
2021-10-01 $449,900 (10.2%) $540,121 (8.7%) 1.18 341
2021-11-01 $450,000 (12.9%) $557,715 (16.9%) 1.19 302
2021-12-01 $449,500 (12.4%) $546,247 (12.5%) 1.20 260
2022-01-01 $449,000 (6.9%) $553,724 (11.7%) 1.20 203
2022-02-01 $453,000 (3.2%) $548,817 (-4.0%) 1.15 221
2022-03-01 $454,450 (5.1%) $540,133 (-6.3%) 1.12 238
2022-04-01 $490,000 (9.5%) $568,491 (-3.5%) 1.15 282
2022-05-01 $477,000 (4.2%) $1,196,869 (105.0%) 1.07 362
2022-06-01 $472,495 (4.5%) $552,754 (-4.4%) 1.05 414
Chico's median listing price for 2022-06-01 was $472,495, a difference of $20,495 (4.5%) versus the prior year and $-4,505 versus the prior month.

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

Chico's average listing price for 2022-06-01 was $552,754, a difference of $-25,682 (-4.4%) versus the prior year and $-644,115 versus the prior month.

For the 2022-06-01 period, Chico had 414 MLS listings, a difference of 52 listings (14%) versus the prior month and 152 listings (58%) 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 57 days 1,618 sqft
2018-02-01 37 days 1,604 sqft
2018-03-01 31 days 1,697 sqft
2018-04-01 38 days 1,684 sqft
2018-05-01 34 days 1,712 sqft
2018-06-01 37 days 1,705 sqft
2018-07-01 41 days 1,700 sqft
2018-08-01 46 days 1,657 sqft
2018-09-01 50 days 1,636 sqft
2018-10-01 53 days 1,634 sqft
2018-11-01 56 days 1,648 sqft
2018-12-01 26 days 1,616 sqft
2019-01-01 30 days 1,612 sqft
2019-02-01 32 days 1,584 sqft
2019-03-01 44 days 1,586 sqft
2019-04-01 44 days 1,612 sqft
2019-05-01 36 days 1,642 sqft
2019-06-01 37 days 1,678 sqft
2019-07-01 46 days 1,693 sqft
2019-08-01 48 days 1,674 sqft
2019-09-01 53 days 1,680 sqft
2019-10-01 53 days 1,691 sqft
2019-11-01 60 days 1,720 sqft
2019-12-01 71 days 1,722 sqft
2020-01-01 73 days 1,718 sqft
2020-02-01 61 days 1,728 sqft
2020-03-01 45 days 1,796 sqft
2020-04-01 51 days 1,846 sqft
2020-05-01 59 days 1,863 sqft
2020-06-01 46 days 1,903 sqft
2020-07-01 52 days 1,878 sqft
2020-08-01 44 days 1,853 sqft
2020-09-01 45 days 1,830 sqft
2020-10-01 44 days 1,825 sqft
2020-11-01 46 days 1,770 sqft
2020-12-01 62 days 1,809 sqft
2021-01-01 72 days 1,803 sqft
2021-02-01 42 days 1,815 sqft
2021-03-01 42 days 1,777 sqft
2021-04-01 37 days 1,753 sqft
2021-05-01 35 days 1,817 sqft
2021-06-01 35 days 1,768 sqft
2021-07-01 37 days 1,726 sqft
2021-08-01 42 days 1,683 sqft
2021-09-01 49 days 1,700 sqft
2021-10-01 44 days 1,728 sqft
2021-11-01 49 days 1,728 sqft
2021-12-01 57 days 1,685 sqft
2022-01-01 57 days 1,638 sqft
2022-02-01 35 days 1,655 sqft
2022-03-01 36 days 1,679 sqft
2022-04-01 32 days 1,740 sqft
2022-05-01 33 days 1,741 sqft
2022-06-01 34 days 1,724 sqft
Chico's median listing age (time on market) for 2022-06-01 was 34 days. This is -3% shorter than the same period one year ago.

Chico's median square footage for active listings during the 2022-06-01 period was 1,724 sqft. One year prior, the average listing was 1,768 sqft.