Danville USDA Loan Rates, Closing Costs & Stats
Danville, VA
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
6.28%
for the week of 2024-10-11, compared to the national average (all USDA variants) of
6.08% for the same period.
Danville's average USDA mortgage closing costs are $5,108.
The average rate for the prior week (2024-10-04) was
5.87% and
one month ago for the week of 2024-09-06, the
average rate was 6.36%.
The average rate one year ago was 7.66%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.18%.
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. LouisDate | 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 |
2024-04-01 | $190,112 (1.4%) | $263,321 (-0.6%) | 0.00 | 161 |
2024-05-01 | $215,950 (8.0%) | $261,169 (-8.0%) | 0.00 | 156 |
2024-06-01 | $220,000 (-12.7%) | $259,541 (-50.9%) | 0.00 | 171 |
2024-07-01 | $232,200 (-1.2%) | $315,536 (9.5%) | 0.00 | 201 |
2024-08-01 | $239,000 (11.5%) | $348,074 (30.2%) | 0.00 | 199 |
2024-09-01 | $239,900 (5.5%) | $309,728 (-19.9%) | 0.00 | 205 |
Danville's median listing price comes in at 0% of the national average.
Danville's average listing price for 2024-09-01 was $309,728, a difference of $-77,150 (-19.9%) versus the prior year and $-38,346 versus the prior month.
For the 2024-09-01 period, Danville had 205 MLS listings, a difference of 6 listings (3%) versus the prior month and 68 listings (50%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Danville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 |
2024-04-01 | 0 days | 1,574 sqft |
2024-05-01 | 0 days | 1,551 sqft |
2024-06-01 | 0 days | 1,586 sqft |
2024-07-01 | 0 days | 1,602 sqft |
2024-08-01 | 0 days | 1,622 sqft |
2024-09-01 | 0 days | 1,688 sqft |
Danville's median square footage for active listings during the 2024-09-01 period was 1,688 sqft. One year prior, the average listing was 1,702 sqft.