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 6.06% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

Colorado Springs's average USDA mortgage closing costs are $7,280.

The average rate for the prior week (2024-02-23) was 5.92% and one month ago for the week of 2024-01-26, the average rate was 6.07%.

The average rate one year ago was 5.94%.

For refis of the same type during the week of 2024-03-01, the average rate was 4.77%.

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 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 $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
Colorado Springs's median listing price for 2024-01-01 was $487,875, a difference of $-10,904 (-2.2%) versus the prior year and $-2,125 versus the prior month.

Colorado Springs's median listing price comes in at 119% of the national average.

Colorado Springs's average listing price for 2024-01-01 was $652,404, a difference of $28,707 (4.6%) versus the prior year and $-798 versus the prior month.

For the 2024-01-01 period, Colorado Springs had 1,529 MLS listings, a difference of -284 listings (-16%) versus the prior month and -33 listings (-2%) 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
Colorado Springs's median listing age (time on market) for 2024-01-01 was 63 days. This is -5% shorter than the same period one year ago.

Colorado Springs's median square footage for active listings during the 2024-01-01 period was 2,213 sqft. One year prior, the average listing was 2,285 sqft.