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%.

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 $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 for 2023-04-01 was $535,000, a difference of $20,000 (3.9%) versus the prior year and $7,500 versus the prior month.

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 listing age (time on market) for 2023-04-01 was 29 days. This is 222% longer than the same period one year ago.

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.