Denver USDA Loan Rates, Closing Costs & Stats
DENVER-AURORA-LAKEWOOD, 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.
Denver's 10 lenders originated 18 USDA loans during 2022. The total origination value was $7,040,000, with an average USDA loan value of $391,111.
Denver USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Denver
averaged
6.26%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
Denver's average USDA mortgage closing costs are $7,402.
The average rate for the prior week (2023-05-19) was
5.91% and
one month ago for the week of 2023-04-21, the
average rate was 6.11%.
The average rate one year ago was 5.03%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.16%.
Denver 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 Denver level.
Name | # of Loans | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
---|---|---|---|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 4 | 4.72% | $9,174 |
NOVA FINANCIAL & INVESTMENT CORPORATION | 4 | 5.65% | $2,255 |
HOME POINT FINANCIAL CORPORATION | 3 | 3.17% | $7,809 |
DRAPER AND KRAMER MORTGAGE CORP. | 1 | 2.88% | $7,108 |
Paramount Residential Mortgage Group, Inc. | 1 | 5.50% | $12,701 |
UNION HOME MORTGAGE CORP. | 1 | 5.25% | $14,069 |
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | 1 | 4.38% | $9,788 |
UNITED WHOLESALE MORTGAGE, LLC | 1 | 2.59% | $8,737 |
CARDINAL FINANCIAL | 1 | 3.13% | $7,887 |
Century Mortgage Company DBA Century Lending Company | 1 | 2.75% | $17,335 |
The top Denver USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
4 USDA loans originated. Their average total fees are
$9,174, which is $6,919
higher than the next largest lender,
NOVA FINANCIAL & INVESTMENT CORPORATION.
The lowest fee Denver USDA lenders (with over 10 loans originated) are
.
The lowest rate Denver USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Denver (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 | $549,488 (3.7%) | $758,058 (4.2%) | 2.04 | 3,796 |
2018-02-01 | $549,950 (1.9%) | $765,631 (3.0%) | 2.00 | 3,929 |
2018-03-01 | $549,900 (0.1%) | $768,776 (2.1%) | 1.93 | 4,296 |
2018-04-01 | $545,000 (0.9%) | $760,257 (3.2%) | 1.85 | 4,875 |
2018-05-01 | $532,400 (0.6%) | $742,481 (2.6%) | 1.78 | 5,451 |
2018-06-01 | $520,000 (-0.5%) | $717,321 (1.3%) | 1.73 | 6,460 |
2018-07-01 | $499,950 (-3.8%) | $696,601 (-0.5%) | 1.67 | 7,129 |
2018-08-01 | $495,000 (-1.0%) | $673,821 (-2.0%) | 1.66 | 7,432 |
2018-09-01 | $489,900 (-2.0%) | $664,752 (-3.2%) | 1.65 | 7,892 |
2018-10-01 | $479,700 (-4.1%) | $645,621 (-6.6%) | 1.62 | 8,098 |
2018-11-01 | $474,950 (-8.1%) | $637,070 (-10.7%) | 1.61 | 7,721 |
2018-12-01 | $475,000 (-12.0%) | $644,555 (-12.9%) | 1.64 | 6,235 |
2019-01-01 | $487,500 (-11.3%) | $655,428 (-13.5%) | 1.68 | 5,453 |
2019-02-01 | $499,750 (-9.1%) | $672,138 (-12.2%) | 1.69 | 5,496 |
2019-03-01 | $523,390 (-4.8%) | $694,489 (-9.7%) | 1.74 | 5,776 |
2019-04-01 | $522,450 (-4.1%) | $688,318 (-9.5%) | 1.66 | 6,503 |
2019-05-01 | $515,000 (-3.3%) | $676,620 (-8.9%) | 1.61 | 7,490 |
2019-06-01 | $515,000 (-1.0%) | $668,417 (-6.8%) | 1.61 | 8,377 |
2019-07-01 | $500,000 (0.0%) | $657,002 (-5.7%) | 1.57 | 8,892 |
2019-08-01 | $505,001 (2.0%) | $668,577 (-0.8%) | 1.58 | 8,470 |
2019-09-01 | $512,450 (4.6%) | $680,266 (2.3%) | 1.62 | 7,431 |
2019-10-01 | $495,000 (3.2%) | $652,969 (1.1%) | 1.60 | 8,439 |
2019-11-01 | $499,000 (5.1%) | $666,656 (4.6%) | 1.64 | 7,183 |
2019-12-01 | $497,495 (4.7%) | $674,594 (4.7%) | 1.66 | 6,118 |
2020-01-01 | $527,480 (8.2%) | $736,167 (12.3%) | 1.76 | 3,875 |
2020-02-01 | $550,000 (10.1%) | $778,147 (15.8%) | 1.80 | 3,604 |
2020-03-01 | $555,212 (6.1%) | $781,941 (12.6%) | 1.74 | 4,292 |
2020-04-01 | $542,500 (3.8%) | $729,462 (6.0%) | 1.70 | 4,933 |
2020-05-01 | $545,000 (5.8%) | $728,600 (7.7%) | 1.66 | 5,843 |
2020-06-01 | $547,000 (6.2%) | $734,370 (9.9%) | 1.61 | 6,523 |
2020-07-01 | $540,075 (8.0%) | $739,959 (12.6%) | 1.57 | 6,040 |
2020-08-01 | $539,000 (6.7%) | $747,040 (11.7%) | 1.54 | 5,747 |
2020-09-01 | $522,000 (1.9%) | $749,906 (10.2%) | 1.50 | 5,361 |
2020-10-01 | $515,000 (4.0%) | $750,645 (15.0%) | 1.48 | 4,864 |
2020-11-01 | $519,675 (4.1%) | $769,682 (15.5%) | 1.52 | 3,925 |
2020-12-01 | $530,126 (6.6%) | $801,840 (18.9%) | 1.58 | 2,901 |
2021-01-01 | $525,000 (-0.5%) | $814,048 (10.6%) | 1.57 | 2,290 |
2021-02-01 | $539,899 (-1.8%) | $828,766 (6.5%) | 1.57 | 2,148 |
2021-03-01 | $555,000 (0.0%) | $846,872 (8.3%) | 1.57 | 2,241 |
2021-04-01 | $575,000 (6.0%) | $889,826 (22.0%) | 1.56 | 2,217 |
2021-05-01 | $595,000 (9.2%) | $897,109 (23.1%) | 1.58 | 2,290 |
2021-06-01 | $599,350 (9.6%) | $875,601 (19.2%) | 1.58 | 3,094 |
2021-07-01 | $600,000 (11.1%) | $852,047 (15.2%) | 1.58 | 3,726 |
2021-08-01 | $600,000 (11.3%) | $841,485 (12.6%) | 1.60 | 3,851 |
2021-09-01 | $599,950 (14.9%) | $845,501 (12.8%) | 1.60 | 3,839 |
2021-10-01 | $615,000 (19.4%) | $846,985 (12.8%) | 1.64 | 3,580 |
2021-11-01 | $618,535 (19.0%) | $864,142 (12.3%) | 1.65 | 2,728 |
2021-12-01 | $627,143 (18.3%) | $900,074 (12.3%) | 1.70 | 1,888 |
2022-01-01 | $640,881 (22.1%) | $982,128 (20.7%) | 1.73 | 1,442 |
2022-02-01 | $647,975 (20.0%) | $985,061 (18.9%) | 1.69 | 1,522 |
2022-03-01 | $662,500 (19.4%) | $971,917 (14.8%) | 1.66 | 1,841 |
2022-04-01 | $676,500 (17.7%) | $964,065 (8.3%) | 1.61 | 2,361 |
2022-05-01 | $695,000 (16.8%) | $943,953 (5.2%) | 1.59 | 3,428 |
2022-06-01 | $680,000 (13.5%) | $884,422 (1.0%) | 1.51 | 4,769 |
2022-07-01 | $650,000 (8.3%) | $840,714 (-1.3%) | 1.47 | 6,181 |
2022-08-01 | $635,693 (6.0%) | $821,551 (-2.4%) | 1.47 | 6,472 |
2022-09-01 | $625,350 (4.2%) | $820,001 (-3.0%) | 1.46 | 6,494 |
2022-10-01 | $620,000 (0.8%) | $827,614 (-2.3%) | 1.46 | 6,577 |
2022-11-01 | $608,500 (-1.6%) | $827,023 (-4.3%) | 1.46 | 6,026 |
2022-12-01 | $600,000 (-4.3%) | $832,527 (-7.5%) | 1.48 | 4,619 |
2023-01-01 | $600,000 (-6.4%) | $862,451 (-12.2%) | 1.48 | 3,768 |
2023-02-01 | $629,950 (-2.8%) | $921,874 (-6.4%) | 1.52 | 3,300 |
2023-03-01 | $654,500 (-1.2%) | $975,437 (0.4%) | 1.54 | 3,429 |
2023-04-01 | $679,000 (0.4%) | $976,474 (1.3%) | 1.58 | 3,978 |
Denver's median listing price comes in at 158% of the national average.
Denver's average listing price for 2023-04-01 was $976,474, a difference of $12,409 (1.3%) versus the prior year and $1,037 versus the prior month.
For the 2023-04-01 period, Denver had 3,978 MLS listings, a difference of 549 listings (16%) versus the prior month and 1,617 listings (68%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Denver (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 58 days | 2,959 sqft |
2018-02-01 | 36 days | 2,978 sqft |
2018-03-01 | 27 days | 2,980 sqft |
2018-04-01 | 24 days | 2,924 sqft |
2018-05-01 | 23 days | 2,879 sqft |
2018-06-01 | 25 days | 2,776 sqft |
2018-07-01 | 30 days | 2,712 sqft |
2018-08-01 | 35 days | 2,632 sqft |
2018-09-01 | 37 days | 2,592 sqft |
2018-10-01 | 38 days | 2,500 sqft |
2018-11-01 | 45 days | 2,468 sqft |
2018-12-01 | 58 days | 2,462 sqft |
2019-01-01 | 61 days | 2,466 sqft |
2019-02-01 | 33 days | 2,483 sqft |
2019-03-01 | 32 days | 2,560 sqft |
2019-04-01 | 29 days | 2,580 sqft |
2019-05-01 | 28 days | 2,567 sqft |
2019-06-01 | 31 days | 2,561 sqft |
2019-07-01 | 36 days | 2,510 sqft |
2019-08-01 | 51 days | 2,538 sqft |
2019-09-01 | 51 days | 2,535 sqft |
2019-10-01 | 43 days | 2,420 sqft |
2019-11-01 | 51 days | 2,401 sqft |
2019-12-01 | 63 days | 2,307 sqft |
2020-01-01 | 62 days | 2,539 sqft |
2020-02-01 | 34 days | 2,859 sqft |
2020-03-01 | 24 days | 2,766 sqft |
2020-04-01 | 34 days | 2,677 sqft |
2020-05-01 | 38 days | 2,699 sqft |
2020-06-01 | 33 days | 2,515 sqft |
2020-07-01 | 33 days | 2,410 sqft |
2020-08-01 | 32 days | 2,259 sqft |
2020-09-01 | 31 days | 2,134 sqft |
2020-10-01 | 31 days | 2,015 sqft |
2020-11-01 | 40 days | 1,922 sqft |
2020-12-01 | 51 days | 1,893 sqft |
2021-01-01 | 42 days | 1,871 sqft |
2021-02-01 | 18 days | 1,940 sqft |
2021-03-01 | 10 days | 2,029 sqft |
2021-04-01 | 9 days | 2,170 sqft |
2021-05-01 | 8 days | 2,206 sqft |
2021-06-01 | 9 days | 2,260 sqft |
2021-07-01 | 16 days | 2,271 sqft |
2021-08-01 | 19 days | 2,218 sqft |
2021-09-01 | 23 days | 2,207 sqft |
2021-10-01 | 24 days | 2,240 sqft |
2021-11-01 | 30 days | 2,223 sqft |
2021-12-01 | 39 days | 2,200 sqft |
2022-01-01 | 25 days | 2,189 sqft |
2022-02-01 | 7 days | 2,207 sqft |
2022-03-01 | 6 days | 2,271 sqft |
2022-04-01 | 5 days | 2,296 sqft |
2022-05-01 | 10 days | 2,457 sqft |
2022-06-01 | 16 days | 2,429 sqft |
2022-07-01 | 23 days | 2,376 sqft |
2022-08-01 | 31 days | 2,323 sqft |
2022-09-01 | 36 days | 2,303 sqft |
2022-10-01 | 37 days | 2,298 sqft |
2022-11-01 | 47 days | 2,283 sqft |
2022-12-01 | 60 days | 2,248 sqft |
2023-01-01 | 66 days | 2,266 sqft |
2023-02-01 | 44 days | 2,307 sqft |
2023-03-01 | 28 days | 2,369 sqft |
2023-04-01 | 25 days | 2,441 sqft |
Denver's median square footage for active listings during the 2023-04-01 period was 2,441 sqft. One year prior, the average listing was 2,296 sqft.