Denver USDA Loan Rates, Closing Costs & Stats

DENVER-AURORA-LAKEWOOD, CO

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    • 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.