Colorado Springs USDA Loan Rates, Closing Costs & Stats
COLORADO SPRINGS, CO
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.
Colorado Springs's 5 lenders originated 5 USDA loans during 2023. The total origination value was $1,345,000, with an average USDA loan value of $269,000.
Colorado Springs USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Colorado Springs
averaged
6.14%
for the week of 2024-11-08, compared to the national average (all USDA variants) of
6.477% for the same period.
Colorado Springs's average USDA mortgage closing costs are $7,410.
The average rate for the prior week (2024-11-01) was
6.21% and
one month ago for the week of 2024-10-04, the
average rate was 5.44%.
The average rate one year ago was 6.98%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.41%.
Colorado Springs 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 Colorado Springs level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | 1 | 6.63% | $6,355 |
| DRAPER AND KRAMER MORTGAGE CORP. | 1 | 6.13% | $10,646 |
| Equity Prime Mortgage LLC | 1 | 6.25% | $14,961 |
| Ixonia Bank | 1 | 5.75% | $11,657 |
| Network Funding, L.P. | 1 | 6.50% | $6,875 |
The top Colorado Springs USDA lender as defined by loan originations is ARK-LA-TEX FINANCIAL SERVICES, LLC., with
1 USDA loans originated. Their average total fees are
$6,355, which is $4,291
lower than the next largest lender,
DRAPER AND KRAMER MORTGAGE CORP..
The lowest fee Colorado Springs USDA lenders (with over 10 loans originated) are
.
The lowest rate Colorado Springs USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Colorado Springs (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 | $388,291 (12.0%) | $486,184 (6.5%) | 1.44 | 1,310 |
| 2018-02-01 | $397,500 (11.7%) | $501,114 (6.4%) | 1.44 | 1,236 |
| 2018-03-01 | $411,925 (11.0%) | $516,447 (8.9%) | 1.45 | 1,314 |
| 2018-04-01 | $400,397 (8.2%) | $504,946 (6.3%) | 1.36 | 1,505 |
| 2018-05-01 | $390,280 (3.7%) | $495,938 (5.2%) | 1.30 | 1,678 |
| 2018-06-01 | $385,000 (4.5%) | $522,888 (13.3%) | 1.28 | 2,056 |
| 2018-07-01 | $374,292 (2.6%) | $490,846 (6.8%) | 1.25 | 2,330 |
| 2018-08-01 | $365,363 (2.2%) | $462,568 (1.0%) | 1.22 | 2,467 |
| 2018-09-01 | $364,900 (0.0%) | $459,296 (-0.6%) | 1.23 | 2,448 |
| 2018-10-01 | $367,748 (0.3%) | $464,228 (-0.8%) | 1.25 | 2,413 |
| 2018-11-01 | $368,871 (-0.3%) | $466,477 (-3.3%) | 1.25 | 2,334 |
| 2018-12-01 | $375,000 (-1.2%) | $474,860 (-2.0%) | 1.29 | 1,924 |
| 2019-01-01 | $382,450 (-1.5%) | $478,022 (-1.7%) | 1.32 | 1,639 |
| 2019-02-01 | $389,946 (-1.9%) | $484,661 (-3.3%) | 1.32 | 1,560 |
| 2019-03-01 | $397,100 (-3.6%) | $496,048 (-4.0%) | 1.30 | 1,525 |
| 2019-04-01 | $399,900 (-0.1%) | $501,607 (-0.7%) | 1.27 | 1,575 |
| 2019-05-01 | $417,413 (7.0%) | $519,425 (4.7%) | 1.30 | 1,678 |
| 2019-06-01 | $419,000 (8.8%) | $518,975 (-0.8%) | 1.31 | 1,948 |
| 2019-07-01 | $416,500 (11.3%) | $516,244 (5.2%) | 1.30 | 2,158 |
| 2019-08-01 | $412,682 (13.0%) | $513,767 (11.1%) | 1.31 | 2,127 |
| 2019-09-01 | $409,205 (12.1%) | $513,370 (11.8%) | 1.31 | 2,062 |
| 2019-10-01 | $411,136 (11.8%) | $513,729 (10.7%) | 1.33 | 2,010 |
| 2019-11-01 | $420,000 (13.9%) | $524,080 (12.4%) | 1.38 | 1,738 |
| 2019-12-01 | $424,830 (13.3%) | $531,509 (11.9%) | 1.42 | 1,449 |
| 2020-01-01 | $425,000 (11.1%) | $534,515 (11.8%) | 1.42 | 1,222 |
| 2020-02-01 | $445,000 (14.1%) | $559,799 (15.5%) | 1.46 | 1,059 |
| 2020-03-01 | $445,520 (12.2%) | $558,616 (12.6%) | 1.40 | 1,164 |
| 2020-04-01 | $449,558 (12.4%) | $556,576 (11.0%) | 1.41 | 1,275 |
| 2020-05-01 | $457,400 (9.6%) | $557,583 (7.4%) | 1.39 | 1,488 |
| 2020-06-01 | $461,038 (10.0%) | $562,367 (8.4%) | 1.36 | 1,473 |
| 2020-07-01 | $457,500 (9.8%) | $572,922 (11.0%) | 1.33 | 1,395 |
| 2020-08-01 | $450,000 (9.0%) | $582,547 (13.4%) | 1.29 | 1,307 |
| 2020-09-01 | $435,000 (6.3%) | $571,837 (11.4%) | 1.25 | 1,171 |
| 2020-10-01 | $439,900 (7.0%) | $578,294 (12.6%) | 1.26 | 1,016 |
| 2020-11-01 | $453,550 (8.0%) | $607,460 (15.9%) | 1.33 | 780 |
| 2020-12-01 | $451,628 (6.3%) | $626,964 (18.0%) | 1.34 | 618 |
| 2021-01-01 | $450,785 (6.1%) | $630,450 (18.0%) | 1.35 | 491 |
| 2021-02-01 | $444,970 (0.0%) | $611,649 (9.3%) | 1.30 | 496 |
| 2021-03-01 | $435,000 (-2.4%) | $597,934 (7.0%) | 1.23 | 544 |
| 2021-04-01 | $454,950 (1.2%) | $618,256 (11.1%) | 1.23 | 612 |
| 2021-05-01 | $473,000 (3.4%) | $634,905 (13.9%) | 1.26 | 685 |
| 2021-06-01 | $476,588 (3.4%) | $661,929 (17.7%) | 1.25 | 817 |
| 2021-07-01 | $478,900 (4.7%) | $640,259 (11.8%) | 1.26 | 972 |
| 2021-08-01 | $477,450 (6.1%) | $638,585 (9.6%) | 1.27 | 1,046 |
| 2021-09-01 | $477,382 (9.7%) | $635,388 (11.1%) | 1.27 | 1,079 |
| 2021-10-01 | $485,000 (10.3%) | $649,980 (12.4%) | 1.29 | 1,113 |
| 2021-11-01 | $484,324 (6.8%) | $660,355 (8.7%) | 1.29 | 935 |
| 2021-12-01 | $484,948 (7.4%) | $674,878 (7.6%) | 1.31 | 739 |
| 2022-01-01 | $490,763 (8.9%) | $678,863 (7.7%) | 1.33 | 602 |
| 2022-02-01 | $482,765 (8.5%) | $679,167 (11.0%) | 1.26 | 593 |
| 2022-03-01 | $487,654 (12.1%) | $658,027 (10.1%) | 1.22 | 635 |
| 2022-04-01 | $515,000 (13.2%) | $671,515 (8.6%) | 1.23 | 775 |
| 2022-05-01 | $537,709 (13.7%) | $677,996 (6.8%) | 1.23 | 1,202 |
| 2022-06-01 | $537,500 (12.8%) | $671,934 (1.5%) | 1.20 | 1,706 |
| 2022-07-01 | $521,740 (9.0%) | $643,884 (0.6%) | 1.18 | 2,352 |
| 2022-08-01 | $517,700 (8.4%) | $634,944 (-0.6%) | 1.20 | 2,536 |
| 2022-09-01 | $505,000 (5.8%) | $627,401 (-1.3%) | 1.18 | 2,419 |
| 2022-10-01 | $499,999 (3.1%) | $618,953 (-4.8%) | 1.18 | 2,462 |
| 2022-11-01 | $499,700 (3.2%) | $612,436 (-7.3%) | 1.20 | 2,319 |
| 2022-12-01 | $499,000 (2.9%) | $614,710 (-8.9%) | 1.23 | 1,938 |
| 2023-01-01 | $498,779 (1.6%) | $623,697 (-8.1%) | 1.24 | 1,562 |
| 2023-02-01 | $499,000 (3.4%) | $629,654 (-7.3%) | 1.20 | 1,375 |
| 2023-03-01 | $527,500 (8.2%) | $654,647 (-0.5%) | 1.24 | 1,270 |
| 2023-04-01 | $535,000 (3.9%) | $672,648 (0.2%) | 1.24 | 1,328 |
| 2023-05-01 | $550,000 (2.3%) | $693,071 (2.2%) | 1.25 | 1,469 |
| 2023-06-01 | $549,950 (2.3%) | $685,762 (2.1%) | 1.24 | 1,657 |
| 2023-07-01 | $545,000 (4.5%) | $694,480 (7.9%) | 1.24 | 1,917 |
| 2023-08-01 | $534,236 (3.2%) | $685,321 (7.9%) | 1.23 | 2,049 |
| 2023-09-01 | $525,000 (4.0%) | $678,648 (8.2%) | 1.22 | 2,178 |
| 2023-10-01 | $514,087 (2.8%) | $676,028 (9.2%) | 1.21 | 2,196 |
| 2023-11-01 | $499,187 (-0.1%) | $660,080 (7.8%) | 1.19 | 2,155 |
| 2023-12-01 | $490,000 (-1.8%) | $653,202 (6.3%) | 1.20 | 1,813 |
| 2024-01-01 | $487,875 (-2.2%) | $652,404 (4.6%) | 1.19 | 1,529 |
| 2024-02-01 | $489,601 (-1.9%) | $651,529 (3.5%) | 1.18 | 1,485 |
| 2024-03-01 | $495,000 (-6.2%) | $638,631 (-2.5%) | 1.17 | 1,523 |
| 2024-04-01 | $505,028 (-5.6%) | $653,376 (-2.9%) | 1.17 | 1,822 |
| 2024-05-01 | $517,500 (-5.9%) | $669,818 (-3.4%) | 1.17 | 2,187 |
| 2024-06-01 | $525,000 (-4.5%) | $700,767 (2.2%) | 1.18 | 2,549 |
| 2024-07-01 | $515,000 (-5.5%) | $673,398 (-3.0%) | 1.18 | 2,854 |
| 2024-08-01 | $509,900 (-4.6%) | $665,191 (-2.9%) | 1.19 | 2,996 |
| 2024-09-01 | $504,175 (-4.0%) | $657,146 (-3.2%) | 1.19 | 3,101 |
| 2024-10-01 | $494,749 (-3.8%) | $646,656 (-4.3%) | 1.16 | 3,113 |
Colorado Springs's median listing price comes in at 116% of the national average.
Colorado Springs's average listing price for 2024-10-01 was $646,656, a difference of $-29,372 (-4.3%) versus the prior year and $-10,490 versus the prior month.
For the 2024-10-01 period, Colorado Springs had 3,113 MLS listings, a difference of 12 listings (0%) versus the prior month and 917 listings (42%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Colorado Springs (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 54 days | 3,060 sqft |
| 2018-02-01 | 43 days | 3,087 sqft |
| 2018-03-01 | 32 days | 3,111 sqft |
| 2018-04-01 | 26 days | 3,092 sqft |
| 2018-05-01 | 28 days | 3,007 sqft |
| 2018-06-01 | 26 days | 2,929 sqft |
| 2018-07-01 | 31 days | 2,826 sqft |
| 2018-08-01 | 37 days | 2,770 sqft |
| 2018-09-01 | 39 days | 2,774 sqft |
| 2018-10-01 | 45 days | 2,819 sqft |
| 2018-11-01 | 47 days | 2,839 sqft |
| 2018-12-01 | 61 days | 2,837 sqft |
| 2019-01-01 | 61 days | 2,856 sqft |
| 2019-02-01 | 42 days | 2,880 sqft |
| 2019-03-01 | 37 days | 2,885 sqft |
| 2019-04-01 | 29 days | 2,876 sqft |
| 2019-05-01 | 25 days | 2,947 sqft |
| 2019-06-01 | 26 days | 2,983 sqft |
| 2019-07-01 | 30 days | 2,997 sqft |
| 2019-08-01 | 36 days | 2,923 sqft |
| 2019-09-01 | 41 days | 2,863 sqft |
| 2019-10-01 | 44 days | 2,832 sqft |
| 2019-11-01 | 47 days | 2,866 sqft |
| 2019-12-01 | 58 days | 2,896 sqft |
| 2020-01-01 | 58 days | 2,842 sqft |
| 2020-02-01 | 35 days | 2,959 sqft |
| 2020-03-01 | 23 days | 2,964 sqft |
| 2020-04-01 | 31 days | 3,009 sqft |
| 2020-05-01 | 31 days | 3,065 sqft |
| 2020-06-01 | 30 days | 3,073 sqft |
| 2020-07-01 | 31 days | 3,034 sqft |
| 2020-08-01 | 31 days | 2,971 sqft |
| 2020-09-01 | 30 days | 2,777 sqft |
| 2020-10-01 | 29 days | 2,700 sqft |
| 2020-11-01 | 29 days | 2,707 sqft |
| 2020-12-01 | 35 days | 2,669 sqft |
| 2021-01-01 | 26 days | 2,640 sqft |
| 2021-02-01 | 13 days | 2,482 sqft |
| 2021-03-01 | 9 days | 2,393 sqft |
| 2021-04-01 | 9 days | 2,547 sqft |
| 2021-05-01 | 8 days | 2,613 sqft |
| 2021-06-01 | 9 days | 2,592 sqft |
| 2021-07-01 | 14 days | 2,499 sqft |
| 2021-08-01 | 15 days | 2,535 sqft |
| 2021-09-01 | 18 days | 2,378 sqft |
| 2021-10-01 | 19 days | 2,444 sqft |
| 2021-11-01 | 27 days | 2,348 sqft |
| 2021-12-01 | 32 days | 2,327 sqft |
| 2022-01-01 | 26 days | 2,327 sqft |
| 2022-02-01 | 15 days | 2,284 sqft |
| 2022-03-01 | 9 days | 2,237 sqft |
| 2022-04-01 | 9 days | 2,452 sqft |
| 2022-05-01 | 12 days | 2,527 sqft |
| 2022-06-01 | 18 days | 2,535 sqft |
| 2022-07-01 | 25 days | 2,448 sqft |
| 2022-08-01 | 33 days | 2,414 sqft |
| 2022-09-01 | 40 days | 2,344 sqft |
| 2022-10-01 | 46 days | 2,375 sqft |
| 2022-11-01 | 51 days | 2,393 sqft |
| 2022-12-01 | 63 days | 2,360 sqft |
| 2023-01-01 | 66 days | 2,285 sqft |
| 2023-02-01 | 48 days | 2,331 sqft |
| 2023-03-01 | 37 days | 2,466 sqft |
| 2023-04-01 | 28 days | 2,578 sqft |
| 2023-05-01 | 26 days | 2,629 sqft |
| 2023-06-01 | 30 days | 2,647 sqft |
| 2023-07-01 | 32 days | 2,620 sqft |
| 2023-08-01 | 37 days | 2,510 sqft |
| 2023-09-01 | 42 days | 2,450 sqft |
| 2023-10-01 | 44 days | 2,387 sqft |
| 2023-11-01 | 49 days | 2,359 sqft |
| 2023-12-01 | 59 days | 2,302 sqft |
| 2024-01-01 | 63 days | 2,213 sqft |
| 2024-02-01 | 41 days | 2,166 sqft |
| 2024-03-01 | 36 days | 2,164 sqft |
| 2024-04-01 | 31 days | 2,306 sqft |
| 2024-05-01 | 30 days | 2,328 sqft |
| 2024-06-01 | 34 days | 2,362 sqft |
| 2024-07-01 | 41 days | 2,339 sqft |
| 2024-08-01 | 47 days | 2,307 sqft |
| 2024-09-01 | 53 days | 2,298 sqft |
| 2024-10-01 | 56 days | 2,249 sqft |
Colorado Springs's median square footage for active listings during the 2024-10-01 period was 2,249 sqft. One year prior, the average listing was 2,387 sqft.