Durham USDA Loan Rates, Closing Costs & Stats

DURHAM-CHAPEL HILL, NC

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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.

    Durham's 19 lenders originated 26 USDA loans during 2023. The total origination value was $6,250,000, with an average USDA loan value of $240,385.

    Durham USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Durham averaged 6.39% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Durham's average USDA mortgage closing costs are $5,756.

    The average rate for the prior week (2024-04-12) was 6.64% and one month ago for the week of 2024-03-15, the average rate was 6.23%.

    The average rate one year ago was 6.17%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.75%.

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

    Durham 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 Durham level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    NEWREZ LLC 3 6.83% $8,754
    Barrington Bank & Trust Company, N.A. 2 6.75% $5,483
    MOVEMENT MORTGAGE, LLC 2 6.13% $6,033
    UNION HOME MORTGAGE CORP. 2 6.88% $7,609
    UNITED WHOLESALE MORTGAGE, LLC 2 5.47% $11,635
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.50% $3,367
    First Heritage Mortgage, LLC 1 6.00% $7,346
    Flagstar Bank, FSB 1 5.75% $6,340
    Prosperity Home Mortgage, LLC 1 7.00% $6,063
    TJC Mortgage, Inc. 1 6.13% $9,346
    Towne Mortgage of the Carolinas, LLC 1 5.63% $7,320
    United Community Bank 1 6.13% $9,087
    Alcova Mortgage LLC 1 6.63% $4,840
    Victorian Finance, LLC 1 6.00% $7,670
    American Security Mortgage Corp. 1 5.13% $10,739
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.88% $10,481
    Corporate Investors Mortgage Group, Inc. 1 5.63% $6,762
    EQUITY RESOURCES, INC. 1 6.99% $6,208
    First-Citizens Bank & Trust Company 1 5.88% $5,931

    The top Durham USDA lender as defined by loan originations is NEWREZ LLC, with 3 USDA loans originated. Their average total fees are $8,754, which is $3,271 higher than the next largest lender, Barrington Bank & Trust Company, N.A..

    The lowest fee Durham USDA lenders (with over 10 loans originated) are .

    The lowest rate Durham USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Durham (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 $377,246 (10.0%) $476,112 (13.4%) 1.40 1,367
    2018-02-01 $390,450 (11.5%) $487,309 (13.7%) 1.42 1,333
    2018-03-01 $395,000 (7.6%) $487,386 (10.4%) 1.39 1,508
    2018-04-01 $399,900 (5.2%) $500,732 (8.8%) 1.36 1,563
    2018-05-01 $399,190 (2.8%) $510,159 (8.9%) 1.33 1,626
    2018-06-01 $390,000 (0.1%) $501,452 (6.9%) 1.30 1,697
    2018-07-01 $384,368 (-0.2%) $486,251 (3.1%) 1.28 1,795
    2018-08-01 $379,994 (-0.6%) $480,286 (2.5%) 1.27 1,826
    2018-09-01 $379,700 (-0.3%) $480,706 (1.6%) 1.28 1,870
    2018-10-01 $378,611 (-0.1%) $478,565 (1.4%) 1.28 1,900
    2018-11-01 $375,000 (-1.1%) $473,227 (0.1%) 1.27 1,824
    2018-12-01 $374,000 (-0.3%) $471,060 (-0.9%) 1.29 1,681
    2019-01-01 $359,950 (-4.6%) $460,338 (-3.3%) 1.24 1,533
    2019-02-01 $375,000 (-4.0%) $473,100 (-2.9%) 1.27 1,483
    2019-03-01 $387,440 (-1.9%) $488,280 (0.2%) 1.27 1,583
    2019-04-01 $399,950 (0.0%) $499,517 (-0.2%) 1.27 1,683
    2019-05-01 $399,450 (0.1%) $493,115 (-3.3%) 1.25 1,744
    2019-06-01 $399,900 (2.5%) $485,830 (-3.1%) 1.25 1,870
    2019-07-01 $396,833 (3.2%) $474,770 (-2.4%) 1.24 1,933
    2019-08-01 $381,777 (0.5%) $465,129 (-3.2%) 1.21 1,981
    2019-09-01 $375,152 (-1.2%) $459,351 (-4.4%) 1.20 2,011
    2019-10-01 $369,995 (-2.3%) $454,090 (-5.1%) 1.19 2,025
    2019-11-01 $371,800 (-0.9%) $454,328 (-4.0%) 1.22 1,907
    2019-12-01 $379,530 (1.5%) $456,293 (-3.1%) 1.27 1,696
    2020-01-01 $385,375 (7.1%) $461,165 (0.2%) 1.29 1,498
    2020-02-01 $399,000 (6.4%) $474,212 (0.2%) 1.31 1,396
    2020-03-01 $416,225 (7.4%) $497,586 (1.9%) 1.30 1,417
    2020-04-01 $395,100 (-1.2%) $476,790 (-4.6%) 1.24 1,462
    2020-05-01 $399,000 (-0.1%) $478,460 (-3.0%) 1.21 1,471
    2020-06-01 $417,000 (4.3%) $503,935 (3.7%) 1.23 1,356
    2020-07-01 $418,032 (5.3%) $507,824 (7.0%) 1.21 1,288
    2020-08-01 $419,975 (10.0%) $512,238 (10.1%) 1.20 1,216
    2020-09-01 $418,945 (11.7%) $526,946 (14.7%) 1.20 1,118
    2020-10-01 $415,000 (12.2%) $540,704 (19.1%) 1.19 1,064
    2020-11-01 $406,673 (9.4%) $536,815 (18.2%) 1.19 1,029
    2020-12-01 $411,400 (8.4%) $549,529 (20.4%) 1.22 913
    2021-01-01 $399,994 (3.8%) $541,101 (17.3%) 1.19 779
    2021-02-01 $412,225 (3.3%) $565,136 (19.2%) 1.20 610
    2021-03-01 $430,235 (3.4%) $571,854 (14.9%) 1.22 564
    2021-04-01 $458,206 (16.0%) $614,718 (28.9%) 1.24 508
    2021-05-01 $443,500 (11.2%) $596,646 (24.7%) 1.18 478
    2021-06-01 $441,000 (5.8%) $603,003 (19.7%) 1.16 527
    2021-07-01 $440,000 (5.3%) $594,590 (17.1%) 1.16 593
    2021-08-01 $445,475 (6.1%) $587,264 (14.7%) 1.19 625
    2021-09-01 $450,238 (7.5%) $590,983 (12.2%) 1.20 665
    2021-10-01 $467,250 (12.6%) $610,213 (12.9%) 1.25 673
    2021-11-01 $454,088 (11.7%) $600,945 (12.0%) 1.21 616
    2021-12-01 $460,950 (12.0%) $609,879 (11.0%) 1.25 564
    2022-01-01 $459,500 (14.9%) $633,140 (17.0%) 1.24 479
    2022-02-01 $474,450 (15.1%) $650,055 (15.0%) 1.23 376
    2022-03-01 $477,250 (10.9%) $684,498 (19.7%) 1.19 400
    2022-04-01 $485,000 (5.9%) $675,273 (9.9%) 1.16 439
    2022-05-01 $494,500 (11.5%) $690,223 (15.7%) 1.13 612
    2022-06-01 $497,574 (12.8%) $667,519 (10.7%) 1.11 805
    2022-07-01 $499,000 (13.4%) $658,342 (10.7%) 1.12 987
    2022-08-01 $493,638 (10.8%) $653,666 (11.3%) 1.14 1,096
    2022-09-01 $461,000 (2.4%) $620,643 (5.0%) 1.08 1,219
    2022-10-01 $465,000 (-0.5%) $637,614 (4.5%) 1.09 1,321
    2022-11-01 $465,000 (2.4%) $651,782 (8.5%) 1.12 1,265
    2022-12-01 $459,500 (-0.3%) $653,621 (7.2%) 1.13 1,135
    2023-01-01 $467,250 (1.7%) $665,694 (5.1%) 1.16 965
    2023-02-01 $487,000 (2.7%) $699,174 (7.6%) 1.18 903
    2023-03-01 $522,975 (9.6%) $732,205 (7.0%) 1.23 892
    2023-04-01 $540,000 (11.3%) $743,742 (10.1%) 1.26 894
    2023-05-01 $532,000 (7.6%) $755,445 (9.5%) 1.21 925
    2023-06-01 $528,925 (6.3%) $757,330 (13.5%) 1.19 971
    2023-07-01 $535,000 (7.2%) $762,481 (15.8%) 1.22 988
    2023-08-01 $532,450 (7.9%) $758,485 (16.0%) 1.22 1,010
    2023-09-01 $499,000 (8.2%) $734,130 (18.3%) 1.16 1,132
    2023-10-01 $496,725 (6.8%) $733,628 (15.1%) 1.17 1,205
    2023-11-01 $489,831 (5.3%) $722,235 (10.8%) 1.17 1,179
    2023-12-01 $475,000 (3.4%) $711,843 (8.9%) 1.16 1,096
    2024-01-01 $479,750 (2.7%) $737,614 (10.8%) 1.17 941
    2024-02-01 $493,663 (1.4%) $743,831 (6.4%) 1.19 952
    2024-03-01 $525,000 (0.4%) $761,284 (4.0%) 1.24 997
    Durham's median listing price for 2024-03-01 was $525,000, a difference of $2,025 (0.4%) versus the prior year and $31,337 versus the prior month.

    Durham's median listing price comes in at 124% of the national average.

    Durham's average listing price for 2024-03-01 was $761,284, a difference of $29,079 (4.0%) versus the prior year and $17,453 versus the prior month.

    For the 2024-03-01 period, Durham had 997 MLS listings, a difference of 45 listings (5%) versus the prior month and 105 listings (12%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Durham (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 87 days 2,462 sqft
    2018-02-01 72 days 2,471 sqft
    2018-03-01 44 days 2,468 sqft
    2018-04-01 47 days 2,502 sqft
    2018-05-01 50 days 2,485 sqft
    2018-06-01 51 days 2,446 sqft
    2018-07-01 53 days 2,433 sqft
    2018-08-01 56 days 2,400 sqft
    2018-09-01 66 days 2,376 sqft
    2018-10-01 68 days 2,361 sqft
    2018-11-01 75 days 2,327 sqft
    2018-12-01 82 days 2,302 sqft
    2019-01-01 89 days 2,243 sqft
    2019-02-01 79 days 2,304 sqft
    2019-03-01 57 days 2,364 sqft
    2019-04-01 47 days 2,423 sqft
    2019-05-01 47 days 2,413 sqft
    2019-06-01 50 days 2,369 sqft
    2019-07-01 56 days 2,306 sqft
    2019-08-01 59 days 2,257 sqft
    2019-09-01 62 days 2,255 sqft
    2019-10-01 65 days 2,253 sqft
    2019-11-01 68 days 2,260 sqft
    2019-12-01 79 days 2,227 sqft
    2020-01-01 82 days 2,201 sqft
    2020-02-01 72 days 2,231 sqft
    2020-03-01 48 days 2,331 sqft
    2020-04-01 49 days 2,205 sqft
    2020-05-01 56 days 2,201 sqft
    2020-06-01 58 days 2,309 sqft
    2020-07-01 52 days 2,307 sqft
    2020-08-01 50 days 2,282 sqft
    2020-09-01 52 days 2,334 sqft
    2020-10-01 51 days 2,276 sqft
    2020-11-01 49 days 2,250 sqft
    2020-12-01 53 days 2,226 sqft
    2021-01-01 58 days 2,197 sqft
    2021-02-01 38 days 2,188 sqft
    2021-03-01 25 days 2,140 sqft
    2021-04-01 25 days 2,211 sqft
    2021-05-01 19 days 2,119 sqft
    2021-06-01 16 days 2,067 sqft
    2021-07-01 22 days 2,059 sqft
    2021-08-01 27 days 2,079 sqft
    2021-09-01 28 days 2,046 sqft
    2021-10-01 29 days 2,129 sqft
    2021-11-01 31 days 1,999 sqft
    2021-12-01 39 days 1,939 sqft
    2022-01-01 52 days 1,901 sqft
    2022-02-01 38 days 1,899 sqft
    2022-03-01 17 days 1,984 sqft
    2022-04-01 15 days 2,017 sqft
    2022-05-01 16 days 2,007 sqft
    2022-06-01 18 days 2,033 sqft
    2022-07-01 24 days 2,059 sqft
    2022-08-01 32 days 2,074 sqft
    2022-09-01 44 days 2,053 sqft
    2022-10-01 50 days 2,080 sqft
    2022-11-01 58 days 2,087 sqft
    2022-12-01 69 days 2,086 sqft
    2023-01-01 74 days 2,074 sqft
    2023-02-01 61 days 2,135 sqft
    2023-03-01 45 days 2,206 sqft
    2023-04-01 42 days 2,229 sqft
    2023-05-01 39 days 2,184 sqft
    2023-06-01 40 days 2,153 sqft
    2023-07-01 44 days 2,178 sqft
    2023-08-01 44 days 2,200 sqft
    2023-09-01 43 days 2,154 sqft
    2023-10-01 47 days 2,159 sqft
    2023-11-01 52 days 2,127 sqft
    2023-12-01 64 days 2,025 sqft
    2024-01-01 61 days 2,024 sqft
    2024-02-01 44 days 2,016 sqft
    2024-03-01 37 days 2,126 sqft
    Durham's median listing age (time on market) for 2024-03-01 was 37 days. This is -18% shorter than the same period one year ago.

    Durham's median square footage for active listings during the 2024-03-01 period was 2,126 sqft. One year prior, the average listing was 2,206 sqft.