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 -0.53% for the week of 2024-06-21, compared to the national average (all USDA variants) of 0% for the same period.

Colorado Springs's average USDA mortgage closing costs are $7,410.

The average rate for the prior week (2024-06-14) was 6.15% and one month ago for the week of 2024-05-17, the average rate was 6.38%.

The average rate one year ago was 6.26%.

For refis of the same type during the week of 2024-06-21, the average rate was -0.06%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

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 .