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 4 lenders originated 4 USDA loans during 2022. The total origination value was $1,360,000, with an average USDA loan value of $340,000.
Colorado Springs USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Colorado Springs
averaged
6.27%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
Colorado Springs's average USDA mortgage closing costs are $7,280.
The average rate for the prior week (2023-05-19) was
5.71% and
one month ago for the week of 2023-04-21, the
average rate was 6.02%.
The average rate one year ago was 4.94%.
For refis of the same type during the week of 2023-05-26, the average rate
was 4.97%.
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 | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
|---|---|---|---|
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | 1 | 5.50% | $24,249 |
| LAKEVIEW LOAN SERVICING, LLC | 1 | 3.25% | $6,225 |
| Plains Commerce Bank | 1 | 4.50% | $29,311 |
| PLAZA HOME MORTGAGE, INC. | 1 | 3.25% | $8,431 |
The top Colorado Springs USDA lender as defined by loan originations is HIGHLANDS RESIDENTIAL MORTGAGE, LTD., with
1 USDA loans originated. Their average total fees are
$24,249, which is $18,025
higher than the next largest lender,
LAKEVIEW LOAN SERVICING, LLC.
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%) | 1.45 | 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%) | 1.23 | 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%) | $474,813 (-2.2%) | 1.29 | 1,923 |
| 2019-01-01 | $382,475 (-1.4%) | $477,392 (-1.9%) | 1.32 | 1,638 |
| 2019-02-01 | $389,921 (-1.9%) | $484,821 (-3.4%) | 1.32 | 1,558 |
| 2019-03-01 | $399,000 (-3.1%) | $500,574 (-3.1%) | 1.33 | 1,455 |
| 2019-04-01 | $399,950 (0.0%) | $505,084 (0.0%) | 1.27 | 1,582 |
| 2019-05-01 | $417,450 (7.0%) | $519,650 (4.9%) | 1.30 | 1,677 |
| 2019-06-01 | $419,000 (8.8%) | $519,168 (-0.6%) | 1.31 | 1,948 |
| 2019-07-01 | $416,750 (11.3%) | $516,421 (5.3%) | 1.30 | 2,157 |
| 2019-08-01 | $435,250 (19.3%) | $537,676 (16.3%) | 1.36 | 2,098 |
| 2019-09-01 | $437,745 (20.1%) | $541,563 (18.0%) | 1.38 | 1,881 |
| 2019-10-01 | $417,171 (13.5%) | $516,146 (11.2%) | 1.35 | 2,010 |
| 2019-11-01 | $420,000 (13.9%) | $524,080 (12.3%) | 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 (12.0%) | 1.42 | 1,222 |
| 2020-02-01 | $445,000 (14.1%) | $559,799 (15.5%) | 1.46 | 1,059 |
| 2020-03-01 | $445,520 (11.7%) | $558,616 (11.6%) | 1.40 | 1,164 |
| 2020-04-01 | $449,558 (12.4%) | $556,576 (10.2%) | 1.41 | 1,275 |
| 2020-05-01 | $457,400 (9.6%) | $557,583 (7.3%) | 1.39 | 1,488 |
| 2020-06-01 | $461,038 (10.0%) | $562,367 (8.3%) | 1.36 | 1,473 |
| 2020-07-01 | $457,500 (9.8%) | $572,922 (10.9%) | 1.33 | 1,395 |
| 2020-08-01 | $450,000 (3.4%) | $582,547 (8.4%) | 1.29 | 1,307 |
| 2020-09-01 | $435,000 (-0.6%) | $571,837 (5.6%) | 1.25 | 1,171 |
| 2020-10-01 | $439,900 (5.5%) | $578,294 (12.0%) | 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%) | 1.29 | 496 |
| 2021-03-01 | $435,000 (-2.4%) | $597,934 (7.0%) | 1.23 | 544 |
| 2021-04-01 | $454,648 (1.1%) | $616,939 (10.9%) | 1.23 | 609 |
| 2021-05-01 | $471,000 (3.0%) | $633,219 (13.6%) | 1.25 | 682 |
| 2021-06-01 | $476,500 (3.4%) | $660,036 (17.4%) | 1.25 | 814 |
| 2021-07-01 | $477,750 (4.4%) | $635,838 (11.0%) | 1.26 | 968 |
| 2021-08-01 | $477,225 (6.1%) | $634,835 (9.0%) | 1.27 | 1,041 |
| 2021-09-01 | $477,000 (9.7%) | $632,351 (10.6%) | 1.27 | 1,074 |
| 2021-10-01 | $484,692 (10.2%) | $648,087 (12.1%) | 1.29 | 1,109 |
| 2021-11-01 | $483,985 (6.7%) | $658,291 (8.4%) | 1.29 | 931 |
| 2021-12-01 | $484,768 (7.3%) | $672,529 (7.3%) | 1.31 | 736 |
| 2022-01-01 | $490,100 (8.7%) | $675,928 (7.2%) | 1.33 | 598 |
| 2022-02-01 | $482,396 (8.4%) | $676,715 (10.6%) | 1.25 | 588 |
| 2022-03-01 | $487,450 (12.1%) | $656,566 (9.8%) | 1.22 | 631 |
| 2022-04-01 | $515,000 (13.3%) | $670,542 (8.7%) | 1.23 | 771 |
| 2022-05-01 | $535,442 (13.7%) | $677,629 (7.0%) | 1.22 | 1,200 |
| 2022-06-01 | $537,350 (12.8%) | $671,557 (1.8%) | 1.20 | 1,703 |
| 2022-07-01 | $520,000 (8.8%) | $643,608 (1.2%) | 1.18 | 2,350 |
| 2022-08-01 | $517,450 (8.4%) | $635,078 (0.0%) | 1.20 | 2,534 |
| 2022-09-01 | $505,000 (5.9%) | $627,448 (-0.8%) | 1.18 | 2,419 |
| 2022-10-01 | $499,999 (3.2%) | $616,441 (-4.9%) | 1.18 | 2,461 |
| 2022-11-01 | $499,250 (3.2%) | $609,820 (-7.4%) | 1.20 | 2,318 |
| 2022-12-01 | $499,000 (2.9%) | $612,099 (-9.0%) | 1.23 | 1,937 |
| 2023-01-01 | $498,808 (1.8%) | $620,156 (-8.3%) | 1.23 | 1,561 |
| 2023-02-01 | $499,000 (3.4%) | $629,532 (-7.0%) | 1.20 | 1,375 |
| 2023-03-01 | $527,500 (8.2%) | $654,610 (-0.3%) | 1.24 | 1,270 |
| 2023-04-01 | $535,000 (3.9%) | $673,103 (0.4%) | 1.24 | 1,328 |
Colorado Springs's median listing price comes in at 124% of the national average.
Colorado Springs's average listing price for 2023-04-01 was $673,103, a difference of $2,561 (0.4%) versus the prior year and $18,493 versus the prior month.
For the 2023-04-01 period, Colorado Springs had 1,328 MLS listings, a difference of 58 listings (5%) versus the prior month and 557 listings (72%) 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 | 3,064 sqft |
| 2018-02-01 | 48 days | 3,089 sqft |
| 2018-03-01 | 35 days | 3,120 sqft |
| 2018-04-01 | 29 days | 3,094 sqft |
| 2018-05-01 | 29 days | 3,005 sqft |
| 2018-06-01 | 28 days | 2,929 sqft |
| 2018-07-01 | 32 days | 2,828 sqft |
| 2018-08-01 | 37 days | 2,767 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 | 43 days | 2,864 sqft |
| 2019-04-01 | 29 days | 2,876 sqft |
| 2019-05-01 | 25 days | 2,946 sqft |
| 2019-06-01 | 28 days | 2,983 sqft |
| 2019-07-01 | 31 days | 2,997 sqft |
| 2019-08-01 | 48 days | 3,076 sqft |
| 2019-09-01 | 58 days | 3,035 sqft |
| 2019-10-01 | 45 days | 2,856 sqft |
| 2019-11-01 | 50 days | 2,866 sqft |
| 2019-12-01 | 59 days | 2,896 sqft |
| 2020-01-01 | 60 days | 2,842 sqft |
| 2020-02-01 | 37 days | 2,959 sqft |
| 2020-03-01 | 23 days | 2,964 sqft |
| 2020-04-01 | 31 days | 3,009 sqft |
| 2020-05-01 | 32 days | 3,065 sqft |
| 2020-06-01 | 31 days | 3,073 sqft |
| 2020-07-01 | 32 days | 3,034 sqft |
| 2020-08-01 | 32 days | 2,971 sqft |
| 2020-09-01 | 31 days | 2,777 sqft |
| 2020-10-01 | 30 days | 2,700 sqft |
| 2020-11-01 | 30 days | 2,707 sqft |
| 2020-12-01 | 36 days | 2,669 sqft |
| 2021-01-01 | 26 days | 2,640 sqft |
| 2021-02-01 | 13 days | 2,482 sqft |
| 2021-03-01 | 10 days | 2,393 sqft |
| 2021-04-01 | 9 days | 2,547 sqft |
| 2021-05-01 | 8 days | 2,612 sqft |
| 2021-06-01 | 9 days | 2,590 sqft |
| 2021-07-01 | 14 days | 2,498 sqft |
| 2021-08-01 | 15 days | 2,530 sqft |
| 2021-09-01 | 18 days | 2,373 sqft |
| 2021-10-01 | 20 days | 2,444 sqft |
| 2021-11-01 | 27 days | 2,346 sqft |
| 2021-12-01 | 32 days | 2,322 sqft |
| 2022-01-01 | 27 days | 2,327 sqft |
| 2022-02-01 | 15 days | 2,282 sqft |
| 2022-03-01 | 10 days | 2,237 sqft |
| 2022-04-01 | 9 days | 2,450 sqft |
| 2022-05-01 | 12 days | 2,527 sqft |
| 2022-06-01 | 18 days | 2,536 sqft |
| 2022-07-01 | 25 days | 2,448 sqft |
| 2022-08-01 | 33 days | 2,415 sqft |
| 2022-09-01 | 40 days | 2,343 sqft |
| 2022-10-01 | 47 days | 2,374 sqft |
| 2022-11-01 | 52 days | 2,391 sqft |
| 2022-12-01 | 64 days | 2,354 sqft |
| 2023-01-01 | 66 days | 2,289 sqft |
| 2023-02-01 | 48 days | 2,329 sqft |
| 2023-03-01 | 38 days | 2,460 sqft |
| 2023-04-01 | 29 days | 2,579 sqft |
Colorado Springs's median square footage for active listings during the 2023-04-01 period was 2,579 sqft. One year prior, the average listing was 2,450 sqft.