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 6.8% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

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

The average rate for the prior week (2024-05-31) was 7.08% and one month ago for the week of 2024-05-03, the average rate was 6.77%.

The average rate one year ago was 6.87%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.6%.

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
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
Danville's median listing price for 2024-05-01 was $215,950, a difference of $15,950 (8.0%) versus the prior year and $25,838 versus the prior month.

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

Danville's average listing price for 2024-05-01 was $261,169, a difference of $-22,694 (-8.0%) versus the prior year and $-2,152 versus the prior month.

For the 2024-05-01 period, Danville had 156 MLS listings, a difference of -5 listings (-3%) versus the prior month and 81 listings (108%) 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
2024-04-01 0 days 1,574 sqft
2024-05-01 0 days 1,551 sqft
Danville's median listing age (time on market) for 2024-05-01 was 0 days.

Danville's median square footage for active listings during the 2024-05-01 period was 1,551 sqft. One year prior, the average listing was 1,670 sqft.