El Centro USDA Loans

EL CENTRO, CA

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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.

    El Centro's 29 lenders originated 185 USDA loans during 2021. The total origination value was $52,435,000, with an average USDA loan value of $283,432.

    El Centro USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in El Centro averaged 5.4% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

    The average rate for the prior week (2022-05-06) was 5.13% and one month ago for the week of 2022-04-08, the average rate was 4.69%.

    The average rate one year ago was 3%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.2%.

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

    El Centro USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the El Centro level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    HOME POINT FINANCIAL CORPORATION 36 2.44% $7,224
    PRIMELENDING, A PLAINSCAPITAL COMPANY 25 2.94% $14,177
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 14 2.69% $10,500
    GUILD MORTGAGE COMPANY 11 2.60% $10,940
    CALIBER HOME LOANS, INC. 11 2.63% $6,481
    INSPIRE HOME LOANS INC. 8 3.03% $6,774
    Paramount Residential Mortgage Group, Inc. 8 2.67% $7,022
    Sierra Pacific Mortgage Company, Inc. 8 2.56% $6,647
    LOANDEPOT.COM, LLC 8 2.84% $10,265
    Neighborhood Loans, Inc. 7 2.79% $13,604
    Wallick & Volk, Inc. 7 2.79% $11,483
    Loan Simple, Inc. 7 2.32% $7,923
    UNITED WHOLESALE MORTGAGE, LLC 4 2.69% $7,100
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 2.81% $7,512
    GENEVA FINANCIAL, LLC 3 2.33% $12,861
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 2.92% $7,049
    First Guaranty Mortgage Corporation 3 2.67% $7,125
    Wells Fargo Bank 2 2.81% $9,116
    CROSSCOUNTRY MORTGAGE, LLC 2 3.06% $7,884
    Franklin Loan Corporation 2 2.94% $6,566
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.50% $7,157
    MOUNTAIN WEST FINANCIAL, INC. 1 3.13% $7,753
    PLAZA HOME MORTGAGE, INC. 1 3.13% $7,938
    Equity Prime Mortgage LLC 1 3.25% $6,518
    S1L, Inc. 1 2.99% $7,153
    Colten Mortgage, LLC 1 3.25% $4,430
    Carrington Mortgage Services, LLC 1 3.00% $4,589
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.75% $6,671
    AMERICAN FINANCIAL NETWORK, INC. 1 2.38% $10,653

    The top El Centro USDA lender as defined by loan originations is HOME POINT FINANCIAL CORPORATION, with 36 USDA loans originated. Their average total fees are $7,224, which is $6,953 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

    The lowest fee El Centro USDA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. ($6,481), HOME POINT FINANCIAL CORPORATION ($7,224), CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP ($10,500), GUILD MORTGAGE COMPANY ($10,940) and PRIMELENDING, A PLAINSCAPITAL COMPANY ($14,177).

    The lowest rate El Centro USDA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (2.44%), GUILD MORTGAGE COMPANY (2.60%), CALIBER HOME LOANS, INC. (2.63%), CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP (2.69%) and PRIMELENDING, A PLAINSCAPITAL COMPANY (2.94%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - El Centro (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 $249,950 (-3.7%) $262,097 (-4.3%) 0.00 213
    2018-02-01 $256,500 (0.2%) $260,091 (-3.5%) 0.00 222
    2018-03-01 $255,000 (1.0%) $257,368 (-4.4%) 0.00 217
    2018-04-01 $259,495 (1.0%) $257,877 (-5.1%) 0.00 217
    2018-05-01 $256,750 (-1.3%) $256,299 (-5.4%) 0.00 222
    2018-06-01 $255,000 (-1.7%) $255,636 (-4.0%) 0.00 213
    2018-07-01 $256,400 (-3.3%) $260,228 (-2.5%) 0.00 219
    2018-08-01 $267,388 (-0.3%) $265,592 (-0.3%) 0.00 211
    2018-09-01 $273,000 (3.8%) $270,044 (3.6%) 0.00 235
    2018-10-01 $274,000 (4.8%) $267,754 (1.1%) 0.00 225
    2018-11-01 $267,450 (3.3%) $267,031 (0.9%) 0.00 225
    2018-12-01 $265,000 (6.0%) $268,085 (2.2%) 0.00 207
    2019-01-01 $259,950 (4.0%) $265,791 (1.4%) 0.00 188
    2019-02-01 $259,500 (1.2%) $263,778 (1.4%) 0.00 196
    2019-03-01 $257,086 (0.8%) $266,275 (3.5%) 0.00 180
    2019-04-01 $260,995 (0.6%) $271,648 (5.3%) 0.00 169
    2019-05-01 $272,000 (5.9%) $281,839 (10.0%) 0.00 166
    2019-06-01 $279,900 (9.8%) $296,041 (15.8%) 0.00 165
    2019-07-01 $276,975 (8.0%) $299,119 (14.9%) 0.00 139
    2019-08-01 $272,814 (2.0%) $293,556 (10.5%) 0.00 140
    2019-09-01 $276,564 (1.3%) $292,218 (8.2%) 0.00 145
    2019-10-01 $271,450 (-0.9%) $285,796 (6.7%) 0.00 137
    2019-11-01 $275,000 (2.8%) $297,642 (11.5%) 0.00 146
    2019-12-01 $277,250 (4.6%) $300,126 (12.0%) 0.00 149
    2020-01-01 $272,995 (5.0%) $284,804 (7.2%) 0.00 149
    2020-02-01 $273,830 (5.5%) $287,795 (9.1%) 0.00 145
    2020-03-01 $273,950 (6.6%) $298,128 (12.0%) 0.00 125
    2020-04-01 $274,950 (5.4%) $298,779 (10.0%) 0.00 122
    2020-05-01 $272,000 (0.0%) $295,982 (5.0%) 0.00 103
    2020-06-01 $272,900 (-2.5%) $290,438 (-1.9%) 0.00 102
    2020-07-01 $284,900 (2.9%) $294,322 (-1.6%) 0.00 88
    2020-08-01 $279,990 (2.6%) $287,138 (-2.2%) 0.00 84
    2020-09-01 $280,950 (1.6%) $291,239 (-0.3%) 0.00 81
    2020-10-01 $281,900 (3.9%) $332,787 (16.4%) 0.00 78
    2020-11-01 $293,700 (6.8%) $352,079 (18.3%) 0.00 80
    2020-12-01 $297,450 (7.3%) $363,935 (21.3%) 0.00 70
    2021-01-01 $297,000 (8.8%) $363,189 (27.5%) 0.00 72
    2021-02-01 $257,500 (-6.0%) $378,735 (31.6%) 0.00 55
    2021-03-01 $268,750 (-1.9%) $362,465 (21.6%) 0.00 54
    2021-04-01 $327,450 (19.1%) $387,795 (29.8%) 0.00 56
    2021-05-01 $330,000 (21.3%) $356,397 (20.4%) 0.00 58
    2021-06-01 $338,475 (24.0%) $370,470 (27.6%) 0.00 54
    2021-07-01 $329,950 (15.8%) $366,978 (24.7%) 0.00 61
    2021-08-01 $312,500 (11.6%) $351,824 (22.5%) 0.00 82
    2021-09-01 $325,450 (15.8%) $354,476 (21.7%) 0.00 77
    2021-10-01 $280,000 (-0.7%) $343,051 (3.1%) 0.00 75
    2021-11-01 $332,000 (13.0%) $351,081 (-0.3%) 0.00 77
    2021-12-01 $357,500 (20.2%) $371,671 (2.1%) 0.00 60
    2022-01-01 $309,900 (4.3%) $328,426 (-9.6%) 0.00 40
    2022-02-01 $337,500 (31.1%) $354,261 (-6.5%) 0.00 42
    2022-03-01 $345,000 (28.4%) $367,299 (1.3%) 0.00 50
    2022-04-01 $350,000 (6.9%) $367,936 (-5.1%) 0.00 57
    El Centro's median listing price for 2022-04-01 was $350,000, a difference of $22,550 (6.9%) versus the prior year and $5,000 versus the prior month.

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

    El Centro's average listing price for 2022-04-01 was $367,936, a difference of $-19,859 (-5.1%) versus the prior year and $637 versus the prior month.

    For the 2022-04-01 period, El Centro had 57 MLS listings, a difference of 7 listings (14%) versus the prior month and 1 listings (2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - El Centro (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,773 sqft
    2018-02-01 0 days 1,748 sqft
    2018-03-01 0 days 1,772 sqft
    2018-04-01 0 days 1,808 sqft
    2018-05-01 0 days 1,779 sqft
    2018-06-01 0 days 1,727 sqft
    2018-07-01 0 days 1,712 sqft
    2018-08-01 0 days 1,808 sqft
    2018-09-01 0 days 1,841 sqft
    2018-10-01 0 days 1,809 sqft
    2018-11-01 0 days 1,745 sqft
    2018-12-01 0 days 1,740 sqft
    2019-01-01 0 days 1,766 sqft
    2019-02-01 0 days 1,720 sqft
    2019-03-01 0 days 1,689 sqft
    2019-04-01 0 days 1,738 sqft
    2019-05-01 0 days 1,816 sqft
    2019-06-01 0 days 1,937 sqft
    2019-07-01 0 days 1,849 sqft
    2019-08-01 0 days 1,806 sqft
    2019-09-01 0 days 1,783 sqft
    2019-10-01 0 days 1,678 sqft
    2019-11-01 0 days 1,749 sqft
    2019-12-01 0 days 1,755 sqft
    2020-01-01 0 days 1,650 sqft
    2020-02-01 0 days 1,720 sqft
    2020-03-01 0 days 1,721 sqft
    2020-04-01 0 days 1,724 sqft
    2020-05-01 0 days 1,694 sqft
    2020-06-01 0 days 1,591 sqft
    2020-07-01 0 days 1,700 sqft
    2020-08-01 0 days 1,615 sqft
    2020-09-01 0 days 1,594 sqft
    2020-10-01 0 days 1,637 sqft
    2020-11-01 0 days 1,800 sqft
    2020-12-01 0 days 1,735 sqft
    2021-01-01 0 days 1,664 sqft
    2021-02-01 0 days 1,446 sqft
    2021-03-01 0 days 1,555 sqft
    2021-04-01 0 days 1,778 sqft
    2021-05-01 0 days 1,704 sqft
    2021-06-01 0 days 1,765 sqft
    2021-07-01 0 days 1,645 sqft
    2021-08-01 0 days 1,693 sqft
    2021-09-01 0 days 1,690 sqft
    2021-10-01 0 days 1,609 sqft
    2021-11-01 0 days 1,643 sqft
    2021-12-01 0 days 1,792 sqft
    2022-01-01 0 days 1,438 sqft
    2022-02-01 0 days 1,483 sqft
    2022-03-01 0 days 1,555 sqft
    2022-04-01 0 days 1,640 sqft
    El Centro's median listing age (time on market) for 2022-04-01 was 0 days.

    El Centro's median square footage for active listings during the 2022-04-01 period was 1,640 sqft. One year prior, the average listing was 1,778 sqft.