Danville USDA Loan Rates, Closing Costs & Stats

Danville, VA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Danville's 11 lenders originated 31 USDA loans during 2023. The total origination value was $5,085,000, with an average USDA loan value of $164,032.

    Danville USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Danville averaged 7.16% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Danville's average USDA mortgage closing costs are $5,108.

    The average rate for the prior week (2024-04-12) was 6.62% and one month ago for the week of 2024-03-15, the average rate was 6.7%.

    The average rate one year ago was 6.54%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

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

    Danville 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 Danville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Alcova Mortgage LLC 17 7.10% $3,780
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.56% $6,764
    Blue Ridge Bank 2 5.88% $5,783
    CMG MORTGAGE, INC. 2 6.56% $4,932
    MOVEMENT MORTGAGE, LLC 2 6.75% $6,614
    Bank of England 1 5.75% $4,512
    UNION HOME MORTGAGE CORP. 1 6.13% $3,977
    NEWREZ LLC 1 7.50% $10,618
    Plains Commerce Bank 1 5.63% $10,782
    Truist 1 6.63% $4,277
    CARDINAL FINANCIAL 1 7.25% $4,182

    The top Danville USDA lender as defined by loan originations is Alcova Mortgage LLC, with 17 USDA loans originated. Their average total fees are $3,780, which is $2,984 lower than the next largest lender, ATLANTIC BAY MORTGAGE GROUP, L.L.C..

    The lowest fee Danville USDA lenders (with over 10 loans originated) are Alcova Mortgage LLC ($3,780), .

    The lowest rate Danville USDA lenders (with over 10 loans originated) are Alcova Mortgage LLC (7.10%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Danville (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 $115,000 (12.2%) $158,515 (2.8%) 0.00 441
    2018-02-01 $112,500 (6.7%) $157,869 (4.1%) 0.00 421
    2018-03-01 $114,900 (4.6%) $158,247 (3.7%) 0.00 405
    2018-04-01 $119,900 (4.4%) $163,533 (6.1%) 0.00 418
    2018-05-01 $101,900 (-18.4%) $148,564 (-7.5%) 0.00 531
    2018-06-01 $104,988 (-16.0%) $151,128 (-7.6%) 0.00 555
    2018-07-01 $109,900 (-12.4%) $155,730 (-4.3%) 0.00 553
    2018-08-01 $100,450 (-18.9%) $154,472 (-4.1%) 0.00 552
    2018-09-01 $106,000 (-11.6%) $156,539 (-1.7%) 0.00 550
    2018-10-01 $109,450 (-5.6%) $155,112 (-0.6%) 0.00 531
    2018-11-01 $108,250 (-9.7%) $154,682 (-3.7%) 0.00 516
    2018-12-01 $107,500 (-6.4%) $154,261 (-2.4%) 0.00 490
    2019-01-01 $109,900 (-4.4%) $156,272 (-1.4%) 0.00 470
    2019-02-01 $107,950 (-4.0%) $154,783 (-2.0%) 0.00 450
    2019-03-01 $113,550 (-1.2%) $163,998 (3.6%) 0.00 414
    2019-04-01 $124,925 (4.2%) $176,026 (7.6%) 0.00 383
    2019-05-01 $125,000 (22.7%) $179,339 (20.7%) 0.00 380
    2019-06-01 $129,945 (23.8%) $186,067 (23.1%) 0.00 383
    2019-07-01 $134,950 (22.8%) $189,755 (21.9%) 0.00 386
    2019-08-01 $133,727 (33.1%) $190,535 (23.4%) 0.00 383
    2019-09-01 $128,818 (21.5%) $191,608 (22.4%) 0.00 379
    2019-10-01 $125,675 (14.8%) $189,586 (22.2%) 0.00 365
    2019-11-01 $129,000 (19.2%) $189,042 (22.2%) 0.00 357
    2019-12-01 $117,450 (9.3%) $179,179 (16.2%) 0.00 371
    2020-01-01 $119,000 (8.3%) $180,166 (15.3%) 0.00 330
    2020-02-01 $122,500 (13.5%) $179,291 (15.8%) 0.00 326
    2020-03-01 $119,000 (4.8%) $174,759 (6.6%) 0.00 311
    2020-04-01 $115,000 (-7.9%) $171,238 (-2.7%) 0.00 302
    2020-05-01 $127,600 (2.1%) $183,442 (2.3%) 0.00 264
    2020-06-01 $125,375 (-3.5%) $182,338 (-2.0%) 0.00 251
    2020-07-01 $125,450 (-7.0%) $186,622 (-1.7%) 0.00 226
    2020-08-01 $125,900 (-5.9%) $190,033 (-0.3%) 0.00 204
    2020-09-01 $139,075 (8.0%) $201,202 (5.0%) 0.00 181
    2020-10-01 $129,900 (3.4%) $204,421 (7.8%) 0.00 170
    2020-11-01 $148,675 (15.3%) $225,547 (19.3%) 0.00 146
    2020-12-01 $155,750 (32.6%) $226,540 (26.4%) 0.00 136
    2021-01-01 $164,900 (38.6%) $237,535 (31.8%) 0.00 110
    2021-02-01 $157,400 (28.5%) $237,852 (32.7%) 0.00 96
    2021-03-01 $147,175 (23.7%) $233,310 (33.5%) 0.00 88
    2021-04-01 $165,225 (43.7%) $285,378 (66.7%) 0.00 86
    2021-05-01 $179,900 (41.0%) $290,514 (58.4%) 0.00 85
    2021-06-01 $170,675 (36.1%) $294,148 (61.3%) 0.00 93
    2021-07-01 $164,900 (31.5%) $284,762 (52.6%) 0.00 103
    2021-08-01 $167,175 (32.8%) $284,219 (49.6%) 0.00 104
    2021-09-01 $185,000 (33.0%) $290,461 (44.4%) 0.00 112
    2021-10-01 $169,900 (30.8%) $263,055 (28.7%) 0.00 92
    2021-11-01 $166,000 (11.7%) $251,914 (11.7%) 0.00 97
    2021-12-01 $162,450 (4.3%) $255,539 (12.8%) 0.00 91
    2022-01-01 $194,950 (18.2%) $269,047 (13.3%) 0.00 72
    2022-02-01 $176,950 (12.4%) $268,306 (12.8%) 0.00 72
    2022-03-01 $198,950 (35.2%) $271,285 (16.3%) 0.00 88
    2022-04-01 $215,000 (30.1%) $319,143 (11.8%) 0.00 83
    2022-05-01 $199,900 (11.1%) $302,446 (4.1%) 0.00 90
    2022-06-01 $241,150 (41.3%) $325,645 (10.7%) 0.00 98
    2022-07-01 $222,000 (34.6%) $343,782 (20.7%) 0.00 105
    2022-08-01 $224,900 (34.5%) $326,411 (14.8%) 0.00 104
    2022-09-01 $239,000 (29.2%) $334,482 (15.2%) 0.00 101
    2022-10-01 $229,900 (35.3%) $320,247 (21.7%) 0.00 96
    2022-11-01 $196,175 (18.2%) $299,216 (18.8%) 0.00 100
    2022-12-01 $227,500 (40.0%) $265,887 (4.1%) 0.00 87
    2023-01-01 $189,225 (-2.9%) $238,392 (-11.4%) 0.00 95
    2023-02-01 $194,000 (9.6%) $231,701 (-13.6%) 0.00 91
    2023-03-01 $193,450 (-2.8%) $229,861 (-15.3%) 0.00 91
    2023-04-01 $187,450 (-12.8%) $264,778 (-17.0%) 0.00 83
    2023-05-01 $200,000 (0.1%) $283,863 (-6.1%) 0.00 75
    2023-06-01 $252,000 (4.5%) $528,891 (62.4%) 0.00 97
    2023-07-01 $235,000 (5.9%) $288,302 (-16.1%) 0.00 106
    2023-08-01 $214,450 (-4.7%) $267,319 (-18.1%) 0.00 106
    2023-09-01 $227,450 (-4.8%) $386,878 (15.7%) 0.00 137
    2023-10-01 $230,000 (0.0%) $364,120 (13.7%) 0.00 159
    2023-11-01 $210,000 (7.1%) $247,440 (-17.3%) 0.00 175
    2023-12-01 $199,950 (-12.1%) $242,725 (-8.7%) 0.00 182
    2024-01-01 $195,875 (3.5%) $233,037 (-2.3%) 0.00 185
    2024-02-01 $192,225 (-0.9%) $228,302 (-1.5%) 0.00 160
    2024-03-01 $172,500 (-10.8%) $227,580 (-1.0%) 0.00 162
    Danville's median listing price for 2024-03-01 was $172,500, a difference of $-20,950 (-10.8%) versus the prior year and $-19,725 versus the prior month.

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

    Danville's average listing price for 2024-03-01 was $227,580, a difference of $-2,281 (-1.0%) versus the prior year and $-722 versus the prior month.

    For the 2024-03-01 period, Danville had 162 MLS listings, a difference of 2 listings (1%) versus the prior month and 71 listings (78%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Danville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,782 sqft
    2018-02-01 0 days 1,768 sqft
    2018-03-01 0 days 1,786 sqft
    2018-04-01 0 days 1,800 sqft
    2018-05-01 0 days 1,791 sqft
    2018-06-01 0 days 1,783 sqft
    2018-07-01 0 days 1,801 sqft
    2018-08-01 0 days 1,793 sqft
    2018-09-01 0 days 1,788 sqft
    2018-10-01 0 days 1,802 sqft
    2018-11-01 0 days 1,782 sqft
    2018-12-01 0 days 1,796 sqft
    2019-01-01 0 days 1,798 sqft
    2019-02-01 0 days 1,791 sqft
    2019-03-01 0 days 1,737 sqft
    2019-04-01 0 days 1,721 sqft
    2019-05-01 0 days 1,779 sqft
    2019-06-01 0 days 1,795 sqft
    2019-07-01 0 days 1,814 sqft
    2019-08-01 0 days 1,837 sqft
    2019-09-01 0 days 1,826 sqft
    2019-10-01 0 days 1,818 sqft
    2019-11-01 0 days 1,800 sqft
    2019-12-01 0 days 1,734 sqft
    2020-01-01 0 days 1,740 sqft
    2020-02-01 0 days 1,784 sqft
    2020-03-01 0 days 1,734 sqft
    2020-04-01 0 days 1,690 sqft
    2020-05-01 0 days 1,796 sqft
    2020-06-01 0 days 1,787 sqft
    2020-07-01 0 days 1,774 sqft
    2020-08-01 0 days 1,803 sqft
    2020-09-01 0 days 1,806 sqft
    2020-10-01 0 days 1,894 sqft
    2020-11-01 0 days 1,971 sqft
    2020-12-01 0 days 1,971 sqft
    2021-01-01 0 days 1,954 sqft
    2021-02-01 0 days 1,901 sqft
    2021-03-01 0 days 1,803 sqft
    2021-04-01 0 days 1,843 sqft
    2021-05-01 0 days 1,868 sqft
    2021-06-01 0 days 1,876 sqft
    2021-07-01 0 days 1,826 sqft
    2021-08-01 0 days 1,844 sqft
    2021-09-01 0 days 1,902 sqft
    2021-10-01 0 days 1,811 sqft
    2021-11-01 0 days 1,793 sqft
    2021-12-01 0 days 1,690 sqft
    2022-01-01 0 days 1,734 sqft
    2022-02-01 0 days 1,712 sqft
    2022-03-01 0 days 1,854 sqft
    2022-04-01 0 days 2,019 sqft
    2022-05-01 0 days 1,896 sqft
    2022-06-01 0 days 2,015 sqft
    2022-07-01 0 days 1,891 sqft
    2022-08-01 0 days 1,930 sqft
    2022-09-01 0 days 1,920 sqft
    2022-10-01 0 days 1,902 sqft
    2022-11-01 0 days 1,869 sqft
    2022-12-01 0 days 1,954 sqft
    2023-01-01 0 days 1,882 sqft
    2023-02-01 0 days 1,660 sqft
    2023-03-01 0 days 1,603 sqft
    2023-04-01 0 days 1,622 sqft
    2023-05-01 0 days 1,670 sqft
    2023-06-01 0 days 1,619 sqft
    2023-07-01 0 days 1,701 sqft
    2023-08-01 0 days 1,783 sqft
    2023-09-01 0 days 1,702 sqft
    2023-10-01 0 days 1,751 sqft
    2023-11-01 0 days 1,735 sqft
    2023-12-01 0 days 1,691 sqft
    2024-01-01 0 days 1,605 sqft
    2024-02-01 0 days 1,601 sqft
    2024-03-01 0 days 1,583 sqft
    Danville's median listing age (time on market) for 2024-03-01 was 0 days.

    Danville's median square footage for active listings during the 2024-03-01 period was 1,583 sqft. One year prior, the average listing was 1,603 sqft.