Cortland USDA Loan Rates, Closing Costs & Stats

Cortland, NY

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.

Cortland's 5 lenders originated 9 USDA loans during 2021. The total origination value was $1,185,000, with an average USDA loan value of $131,667.

Cortland USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Cortland averaged 6.42% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Cortland's average USDA mortgage closing costs are $4,851.

The average rate for the prior week (2022-11-25) was 6.35% and one month ago for the week of 2022-10-28, the average rate was 7.02%.

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 6.51%.

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

Cortland 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 Cortland level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
PARAGON HOME LOANS INC. 5 3.08% $4,558
AMERICAN FINANCIAL NETWORK, INC. 1 3.00% $13,313
Bank of England 1 2.75% $6,084
Carrington Mortgage Services, LLC 1 3.75% $3,455
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.99% $6,353

The top Cortland USDA lender as defined by loan originations is PARAGON HOME LOANS INC., with 5 USDA loans originated. Their average total fees are $4,558, which is $8,755 lower than the next largest lender, AMERICAN FINANCIAL NETWORK, INC..

The lowest fee Cortland USDA lenders (with over 10 loans originated) are .

The lowest rate Cortland USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Cortland (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 $119,950 (-7.0%) $144,348 (-10.0%) 0.00 185
2018-02-01 $119,900 (-4.1%) $143,280 (-9.0%) 0.00 182
2018-03-01 $119,000 (-8.1%) $143,941 (-8.6%) 0.00 166
2018-04-01 $117,500 (-9.6%) $143,574 (-14.9%) 0.00 180
2018-05-01 $123,650 (-3.7%) $144,611 (-13.0%) 0.00 171
2018-06-01 $122,500 (-13.0%) $152,819 (-11.6%) 0.00 181
2018-07-01 $129,900 (-6.9%) $151,806 (-10.6%) 0.00 213
2018-08-01 $125,875 (-6.8%) $148,371 (-10.9%) 0.00 205
2018-09-01 $119,200 (-11.6%) $144,052 (-11.1%) 0.00 208
2018-10-01 $118,700 (-5.8%) $145,567 (-6.7%) 0.00 209
2018-11-01 $115,750 (-4.1%) $142,455 (-7.8%) 0.00 196
2018-12-01 $110,000 (-8.3%) $135,609 (-11.6%) 0.00 186
2019-01-01 $114,000 (-5.0%) $141,186 (-2.2%) 0.00 165
2019-02-01 $99,900 (-16.7%) $137,127 (-4.3%) 0.00 155
2019-03-01 $100,445 (-15.6%) $141,699 (-1.6%) 0.00 157
2019-04-01 $99,900 (-15.0%) $146,068 (1.7%) 0.00 149
2019-05-01 $121,750 (-1.5%) $148,827 (2.9%) 0.00 162
2019-06-01 $129,900 (6.0%) $154,234 (0.9%) 0.00 183
2019-07-01 $136,475 (5.1%) $168,294 (10.9%) 0.00 188
2019-08-01 $132,686 (5.4%) $162,699 (9.7%) 0.00 185
2019-09-01 $130,866 (9.8%) $156,141 (8.4%) 0.00 185
2019-10-01 $129,902 (9.4%) $155,806 (7.0%) 0.00 183
2019-11-01 $127,900 (10.5%) $158,556 (11.3%) 0.00 176
2019-12-01 $118,700 (7.9%) $155,576 (14.7%) 0.00 152
2020-01-01 $117,450 (3.0%) $156,678 (11.0%) 0.00 140
2020-02-01 $129,000 (29.1%) $168,564 (22.9%) 0.00 139
2020-03-01 $131,150 (30.6%) $168,089 (18.6%) 0.00 136
2020-04-01 $133,650 (33.8%) $172,000 (17.8%) 0.00 127
2020-05-01 $134,950 (10.8%) $168,511 (13.2%) 0.00 125
2020-06-01 $148,500 (14.3%) $175,104 (13.5%) 0.00 135
2020-07-01 $148,500 (8.8%) $169,597 (0.8%) 0.00 131
2020-08-01 $144,950 (9.2%) $179,707 (10.5%) 0.00 122
2020-09-01 $134,675 (2.9%) $168,653 (8.0%) 0.00 118
2020-10-01 $127,900 (-1.5%) $172,625 (10.8%) 0.00 114
2020-11-01 $145,000 (13.4%) $185,365 (16.9%) 0.00 100
2020-12-01 $161,950 (36.4%) $220,970 (42.0%) 0.00 81
2021-01-01 $149,900 (27.6%) $227,169 (45.0%) 0.00 75
2021-02-01 $149,900 (16.2%) $227,746 (35.1%) 0.00 72
2021-03-01 $149,700 (14.1%) $231,768 (37.9%) 0.00 65
2021-04-01 $159,350 (19.2%) $192,041 (11.7%) 0.00 63
2021-05-01 $175,000 (29.7%) $195,184 (15.8%) 0.00 62
2021-06-01 $174,050 (17.2%) $201,118 (14.9%) 0.00 63
2021-07-01 $165,000 (11.1%) $196,334 (15.8%) 0.00 75
2021-08-01 $151,950 (4.8%) $205,794 (14.5%) 0.00 80
2021-09-01 $154,675 (14.9%) $225,324 (33.6%) 0.00 76
2021-10-01 $159,950 (25.1%) $247,116 (43.2%) 0.00 68
2021-11-01 $189,225 (30.5%) $248,571 (34.1%) 0.00 64
2021-12-01 $191,950 (18.5%) $274,962 (24.4%) 0.00 58
2022-01-01 $175,000 (16.7%) $253,831 (11.7%) 0.00 49
2022-02-01 $172,950 (15.4%) $256,039 (12.4%) 0.00 49
2022-03-01 $177,950 (18.9%) $245,325 (5.9%) 0.00 54
2022-04-01 $174,900 (9.8%) $238,886 (24.4%) 0.00 54
2022-05-01 $185,000 (5.7%) $236,485 (21.2%) 0.00 47
2022-06-01 $195,000 (12.0%) $260,620 (29.6%) 0.00 45
2022-07-01 $192,450 (16.6%) $256,602 (30.7%) 0.00 47
2022-08-01 $181,950 (19.7%) $207,486 (0.8%) 0.00 59
2022-09-01 $169,900 (9.8%) $209,543 (-7.0%) 0.00 57
2022-10-01 $179,000 (11.9%) $212,140 (-14.2%) 0.00 63
2022-11-01 $203,925 (7.8%) $222,888 (-10.3%) 0.00 60
Cortland's median listing price for 2022-11-01 was $203,925, a difference of $14,700 (7.8%) versus the prior year and $24,925 versus the prior month.

Cortland's median listing price comes in at 0% of the national average.

Cortland's average listing price for 2022-11-01 was $222,888, a difference of $-25,683 (-10.3%) versus the prior year and $10,748 versus the prior month.

For the 2022-11-01 period, Cortland had 60 MLS listings, a difference of -3 listings (-5%) versus the prior month and -4 listings (-6%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Cortland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,492 sqft
2018-02-01 0 days 1,476 sqft
2018-03-01 0 days 1,464 sqft
2018-04-01 0 days 1,473 sqft
2018-05-01 0 days 1,466 sqft
2018-06-01 0 days 1,548 sqft
2018-07-01 0 days 1,560 sqft
2018-08-01 0 days 1,531 sqft
2018-09-01 0 days 1,470 sqft
2018-10-01 0 days 1,466 sqft
2018-11-01 0 days 1,423 sqft
2018-12-01 0 days 1,344 sqft
2019-01-01 0 days 1,346 sqft
2019-02-01 0 days 1,364 sqft
2019-03-01 0 days 1,381 sqft
2019-04-01 0 days 1,370 sqft
2019-05-01 0 days 1,428 sqft
2019-06-01 0 days 1,489 sqft
2019-07-01 0 days 1,486 sqft
2019-08-01 0 days 1,483 sqft
2019-09-01 0 days 1,515 sqft
2019-10-01 0 days 1,535 sqft
2019-11-01 0 days 1,532 sqft
2019-12-01 0 days 1,418 sqft
2020-01-01 0 days 1,420 sqft
2020-02-01 0 days 1,508 sqft
2020-03-01 0 days 1,478 sqft
2020-04-01 0 days 1,407 sqft
2020-05-01 0 days 1,434 sqft
2020-06-01 0 days 1,530 sqft
2020-07-01 0 days 1,590 sqft
2020-08-01 0 days 1,573 sqft
2020-09-01 0 days 1,572 sqft
2020-10-01 0 days 1,489 sqft
2020-11-01 0 days 1,612 sqft
2020-12-01 0 days 1,664 sqft
2021-01-01 0 days 1,746 sqft
2021-02-01 0 days 1,727 sqft
2021-03-01 0 days 1,662 sqft
2021-04-01 0 days 1,676 sqft
2021-05-01 0 days 1,664 sqft
2021-06-01 0 days 1,576 sqft
2021-07-01 0 days 1,625 sqft
2021-08-01 0 days 1,631 sqft
2021-09-01 0 days 1,632 sqft
2021-10-01 0 days 1,726 sqft
2021-11-01 0 days 1,599 sqft
2021-12-01 0 days 1,730 sqft
2022-01-01 0 days 1,712 sqft
2022-02-01 0 days 1,734 sqft
2022-03-01 0 days 1,683 sqft
2022-04-01 0 days 1,704 sqft
2022-05-01 0 days 1,663 sqft
2022-06-01 0 days 1,632 sqft
2022-07-01 0 days 1,677 sqft
2022-08-01 0 days 1,641 sqft
2022-09-01 0 days 1,645 sqft
2022-10-01 0 days 1,645 sqft
2022-11-01 0 days 1,693 sqft
Cortland's median listing age (time on market) for 2022-11-01 was 0 days.

Cortland's median square footage for active listings during the 2022-11-01 period was 1,693 sqft. One year prior, the average listing was 1,599 sqft.