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 14 lenders originated 57 USDA loans during 2021. The total origination value was $21,385,000, with an average USDA loan value of $375,175.

Colorado Springs USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Colorado Springs averaged 6.11% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Colorado Springs's average USDA mortgage closing costs are $6,885.

The average rate for the prior week (2022-11-25) was 6.55% and one month ago for the week of 2022-10-28, the average rate was 6.62%.

The average rate one year ago was 3.32%.

For refis of the same type during the week of 2022-12-02, the average rate was 5.83%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.94% $3,202
Financial Funding Solutions, Inc. 1 3.25% $7,892
GUARANTEED RATE AFFINITY, LLC 1 2.88% $8,570
LAKEVIEW LOAN SERVICING, LLC 1 2.75% $4,039
LOANDEPOT.COM, LLC 1 3.50% $9,194
Loan Simple, Inc. 1 2.63% $5,469
MOVEMENT MORTGAGE, LLC 1 2.75% $6,264
NFM, INC. 1 3.38% $6,940
STEARNS LENDING, LLC 1 2.75% $6,808
THE MORTGAGE COMPANY 1 3.13% $7,963
THRIVE MORTGAGE, LLC 1 2.25% $12,967
UNIVERSAL LENDING CORPORATION 1 3.13% $9,182
1ST SIGNATURE LENDING, LLC 1 3.25% $8,056
V.I.P. MORTGAGE, INC. 1 2.88% $8,849

The top Colorado Springs USDA lender as defined by loan originations is ARK-LA-TEX FINANCIAL SERVICES, LLC., with 2 USDA loans originated. Their average total fees are $3,202, which is $4,690 lower than the next largest lender, Financial Funding Solutions, Inc..

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 $387,810 (11.8%) $486,439 (6.4%) 1.44 1,309
2018-02-01 $397,500 (11.8%) $502,005 (6.6%) 1.44 1,235
2018-03-01 $411,850 (10.7%) $516,772 (9.4%) 1.45 1,313
2018-04-01 $399,852 (8.1%) $504,914 (6.2%) 1.36 1,504
2018-05-01 $390,005 (3.5%) $495,580 (5.0%) 1.30 1,677
2018-06-01 $384,975 (4.5%) $522,407 (13.1%) 1.28 2,055
2018-07-01 $374,500 (2.6%) $490,649 (6.6%) 1.25 2,329
2018-08-01 $365,000 (2.1%) $462,263 (0.8%) 1.22 2,465
2018-09-01 $364,500 (-0.1%) $459,054 (-0.6%) 1.22 2,448
2018-10-01 $367,469 (0.2%) $464,048 (-1.0%) 1.24 2,413
2018-11-01 $368,688 (-0.6%) $466,538 (-3.3%) 1.25 2,334
2018-12-01 $375,000 (-1.3%) $474,661 (-2.3%) 1.29 1,924
2019-01-01 $382,425 (-1.4%) $477,202 (-1.9%) 1.32 1,639
2019-02-01 $389,900 (-1.9%) $484,609 (-3.5%) 1.32 1,559
2019-03-01 $396,961 (-3.6%) $495,966 (-4.0%) 1.30 1,525
2019-04-01 $399,788 (0.0%) $502,500 (-0.5%) 1.27 1,578
2019-05-01 $416,850 (6.9%) $518,822 (4.7%) 1.30 1,689
2019-06-01 $417,530 (8.5%) $518,113 (-0.8%) 1.30 1,959
2019-07-01 $415,000 (10.8%) $515,253 (5.0%) 1.30 2,169
2019-08-01 $412,200 (12.9%) $512,813 (10.9%) 1.30 2,138
2019-09-01 $408,150 (12.0%) $512,423 (11.6%) 1.31 2,073
2019-10-01 $410,425 (11.7%) $512,770 (10.5%) 1.32 2,021
2019-11-01 $420,000 (13.9%) $522,960 (12.1%) 1.38 1,750
2019-12-01 $422,000 (12.5%) $529,938 (11.7%) 1.41 1,461
2020-01-01 $425,000 (11.1%) $532,584 (11.6%) 1.42 1,234
2020-02-01 $443,652 (13.8%) $557,415 (15.0%) 1.45 1,071
2020-03-01 $442,500 (11.5%) $556,528 (12.2%) 1.39 1,175
2020-04-01 $448,447 (12.2%) $554,511 (10.4%) 1.40 1,287
2020-05-01 $453,245 (8.7%) $555,940 (7.2%) 1.38 1,500
2020-06-01 $457,764 (9.6%) $560,735 (8.2%) 1.35 1,485
2020-07-01 $455,688 (9.8%) $571,165 (10.9%) 1.32 1,407
2020-08-01 $449,900 (9.2%) $580,443 (13.2%) 1.29 1,319
2020-09-01 $433,700 (6.3%) $569,628 (11.2%) 1.24 1,182
2020-10-01 $438,992 (7.0%) $575,731 (12.3%) 1.26 1,028
2020-11-01 $450,328 (7.2%) $603,900 (15.5%) 1.32 792
2020-12-01 $448,285 (6.2%) $622,575 (17.5%) 1.33 630
2021-01-01 $448,450 (5.5%) $624,847 (17.3%) 1.34 503
2021-02-01 $437,225 (-1.5%) $606,319 (8.8%) 1.27 508
2021-03-01 $429,900 (-2.9%) $593,333 (6.6%) 1.22 556
2021-04-01 $447,500 (-0.2%) $612,582 (10.5%) 1.21 621
2021-05-01 $469,900 (3.7%) $629,181 (13.2%) 1.24 694
2021-06-01 $475,000 (3.8%) $656,143 (17.0%) 1.25 825
2021-07-01 $475,000 (4.2%) $632,486 (10.7%) 1.25 979
2021-08-01 $476,253 (5.9%) $631,819 (8.9%) 1.27 1,053
2021-09-01 $476,524 (9.9%) $629,458 (10.5%) 1.27 1,086
2021-10-01 $481,093 (9.6%) $645,127 (12.1%) 1.28 1,121
2021-11-01 $480,000 (6.6%) $654,696 (8.4%) 1.28 943
2021-12-01 $483,400 (7.8%) $667,942 (7.3%) 1.31 748
2022-01-01 $488,944 (9.0%) $670,504 (7.3%) 1.32 610
2022-02-01 $478,751 (9.5%) $671,205 (10.7%) 1.25 600
2022-03-01 $484,152 (12.6%) $651,741 (9.8%) 1.21 643
2022-04-01 $510,000 (14.0%) $665,844 (8.7%) 1.22 783
2022-05-01 $529,995 (12.8%) $674,627 (7.2%) 1.21 1,212
2022-06-01 $534,343 (12.5%) $669,225 (2.0%) 1.19 1,715
2022-07-01 $520,000 (9.5%) $642,030 (1.5%) 1.18 2,362
2022-08-01 $516,344 (8.4%) $633,655 (0.3%) 1.19 2,546
2022-09-01 $504,475 (5.9%) $626,019 (-0.6%) 1.18 2,431
2022-10-01 $499,900 (3.9%) $615,010 (-4.7%) 1.18 2,473
2022-11-01 $499,000 (4.0%) $608,310 (-7.1%) 1.20 2,330
Colorado Springs's median listing price for 2022-11-01 was $499,000, a difference of $19,000 (4.0%) versus the prior year and $-900 versus the prior month.

Colorado Springs's median listing price comes in at 120% of the national average.

Colorado Springs's average listing price for 2022-11-01 was $608,310, a difference of $-46,386 (-7.1%) versus the prior year and $-6,700 versus the prior month.

For the 2022-11-01 period, Colorado Springs had 2,330 MLS listings, a difference of -143 listings (-6%) versus the prior month and 1,387 listings (147%) 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 58 days 3,062 sqft
2018-02-01 48 days 3,088 sqft
2018-03-01 35 days 3,120 sqft
2018-04-01 29 days 3,094 sqft
2018-05-01 29 days 3,004 sqft
2018-06-01 28 days 2,929 sqft
2018-07-01 32 days 2,827 sqft
2018-08-01 37 days 2,765 sqft
2018-09-01 40 days 2,768 sqft
2018-10-01 46 days 2,817 sqft
2018-11-01 50 days 2,836 sqft
2018-12-01 62 days 2,835 sqft
2019-01-01 62 days 2,857 sqft
2019-02-01 44 days 2,882 sqft
2019-03-01 38 days 2,885 sqft
2019-04-01 29 days 2,875 sqft
2019-05-01 25 days 2,942 sqft
2019-06-01 28 days 2,977 sqft
2019-07-01 31 days 2,986 sqft
2019-08-01 38 days 2,920 sqft
2019-09-01 42 days 2,859 sqft
2019-10-01 45 days 2,820 sqft
2019-11-01 50 days 2,854 sqft
2019-12-01 60 days 2,879 sqft
2020-01-01 62 days 2,826 sqft
2020-02-01 37 days 2,911 sqft
2020-03-01 23 days 2,953 sqft
2020-04-01 32 days 2,986 sqft
2020-05-01 33 days 3,054 sqft
2020-06-01 31 days 3,062 sqft
2020-07-01 32 days 3,022 sqft
2020-08-01 32 days 2,942 sqft
2020-09-01 31 days 2,761 sqft
2020-10-01 30 days 2,691 sqft
2020-11-01 31 days 2,698 sqft
2020-12-01 37 days 2,645 sqft
2021-01-01 28 days 2,609 sqft
2021-02-01 15 days 2,446 sqft
2021-03-01 10 days 2,375 sqft
2021-04-01 10 days 2,518 sqft
2021-05-01 9 days 2,586 sqft
2021-06-01 9 days 2,576 sqft
2021-07-01 14 days 2,484 sqft
2021-08-01 15 days 2,517 sqft
2021-09-01 19 days 2,359 sqft
2021-10-01 21 days 2,424 sqft
2021-11-01 28 days 2,339 sqft
2021-12-01 33 days 2,313 sqft
2022-01-01 30 days 2,305 sqft
2022-02-01 16 days 2,266 sqft
2022-03-01 10 days 2,227 sqft
2022-04-01 9 days 2,435 sqft
2022-05-01 12 days 2,508 sqft
2022-06-01 18 days 2,511 sqft
2022-07-01 25 days 2,444 sqft
2022-08-01 34 days 2,408 sqft
2022-09-01 40 days 2,334 sqft
2022-10-01 47 days 2,371 sqft
2022-11-01 52 days 2,387 sqft
Colorado Springs's median listing age (time on market) for 2022-11-01 was 52 days. This is 86% longer than the same period one year ago.

Colorado Springs's median square footage for active listings during the 2022-11-01 period was 2,387 sqft. One year prior, the average listing was 2,339 sqft.