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%.

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

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. Louis
Date 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 for 2023-04-01 was $679,000, a difference of $2,500 (0.4%) versus the prior year and $24,500 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2023-04-01 was 25 days. This is 400% longer than the same period one year ago.

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.