El Centro USDA Loans

EL CENTRO, CA

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.