Eugene USDA Loans

EUGENE-SPRINGFIELD, OR

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.

Eugene's 29 lenders originated 76 USDA loans during 2021. The total origination value was $23,080,000, with an average USDA loan value of $303,684.

Eugene USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Eugene averaged 5.33% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

The average rate for the prior week (2022-05-13) was 5.52% and one month ago for the week of 2022-04-15, the average rate was 4.81%.

The average rate one year ago was 3.26%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.03%.

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

Eugene 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 Eugene level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
SUMMIT FUNDING, INC. 13 2.96% $9,677
Sierra Pacific Mortgage Company, Inc. 11 2.52% $7,411
FINANCE OF AMERICA MORTGAGE LLC 6 3.04% $8,810
CROSSCOUNTRY MORTGAGE, LLC 5 2.95% $10,227
GUILD MORTGAGE COMPANY 5 2.88% $7,769
NEWREZ LLC 3 2.33% $8,064
CMG MORTGAGE, INC. 3 2.46% $6,947
MANN FINANCIAL INC. 2 2.75% $6,940
PREMIER MORTGAGE RESOURCES, L.L.C. 2 2.69% $7,875
UNITED WHOLESALE MORTGAGE, LLC 2 2.81% $10,247
Hometown Equity Mortgage, LLC 2 2.50% $5,858
CALIBER HOME LOANS, INC. 2 2.75% $5,949
SUMMIT MORTGAGE CORPORATION 1 3.25% $4,826
Umpqua Bank 1 3.00% $6,988
U.S. Bank 1 2.13% $9,185
Wells Fargo Bank 1 3.75% $3,490
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.38% $16,627
Willamette Valley Bank 1 3.25% $8,479
Banner Bank 1 2.25% $6,119
CHERRY CREEK MORTGAGE, LLC 1 2.75% $7,778
DIRECTORS MORTGAGE, INC. 1 2.75% $8,439
Equity Prime Mortgage LLC 1 2.63% $4,435
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.13% $10,912
First Guaranty Mortgage Corporation 1 2.88% $6,291
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.25% $6,058
HOME POINT FINANCIAL CORPORATION 1 2.49% $8,606
LOANDEPOT.COM, LLC 1 3.25% $9,448
NATIONS DIRECT MORTGAGE, LLC 1 2.75% $8,859
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.13% $7,395

The top Eugene USDA lender as defined by loan originations is SUMMIT FUNDING, INC., with 13 USDA loans originated. Their average total fees are $9,677, which is $2,266 higher than the next largest lender, Sierra Pacific Mortgage Company, Inc..

The lowest fee Eugene USDA lenders (with over 10 loans originated) are Sierra Pacific Mortgage Company, Inc. ($7,411), SUMMIT FUNDING, INC. ($9,677), .

The lowest rate Eugene USDA lenders (with over 10 loans originated) are Sierra Pacific Mortgage Company, Inc. (2.52%), SUMMIT FUNDING, INC. (2.96%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Eugene (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 $349,445 (7.5%) $424,936 (1.2%) 1.29 680
2018-02-01 $375,000 (8.9%) $463,401 (6.1%) 1.35 615
2018-03-01 $399,000 (14.3%) $475,112 (8.8%) 1.38 619
2018-04-01 $404,950 (15.7%) $489,632 (10.9%) 1.36 681
2018-05-01 $414,450 (12.2%) $497,757 (2.5%) 1.38 732
2018-06-01 $388,000 (7.8%) $476,565 (1.9%) 1.29 914
2018-07-01 $389,900 (11.4%) $480,887 (11.2%) 1.30 939
2018-08-01 $374,950 (8.2%) $472,021 (12.5%) 1.25 1,059
2018-09-01 $370,000 (10.5%) $469,972 (14.6%) 1.24 1,039
2018-10-01 $369,900 (8.8%) $467,403 (12.2%) 1.24 973
2018-11-01 $365,000 (4.3%) $463,339 (7.2%) 1.22 930
2018-12-01 $369,000 (8.5%) $474,419 (9.2%) 1.26 799
2019-01-01 $369,500 (5.7%) $477,000 (12.3%) 1.27 667
2019-02-01 $384,500 (2.5%) $483,158 (4.3%) 1.29 635
2019-03-01 $390,814 (-2.1%) $473,404 (-0.4%) 1.27 612
2019-04-01 $379,450 (-6.3%) $451,332 (-7.8%) 1.19 628
2019-05-01 $381,750 (-7.9%) $454,036 (-8.8%) 1.18 703
2019-06-01 $382,240 (-1.5%) $458,878 (-3.7%) 1.18 799
2019-07-01 $399,000 (2.3%) $473,349 (-1.6%) 1.24 807
2019-08-01 $388,571 (3.6%) $465,475 (-1.4%) 1.22 818
2019-09-01 $383,521 (3.7%) $460,334 (-2.1%) 1.22 833
2019-10-01 $389,900 (5.4%) $464,180 (-0.7%) 1.24 795
2019-11-01 $405,000 (11.0%) $483,139 (4.3%) 1.31 672
2019-12-01 $401,000 (8.7%) $482,072 (1.6%) 1.34 534
2020-01-01 $400,000 (8.3%) $476,097 (-0.2%) 1.33 489
2020-02-01 $400,000 (4.0%) $473,072 (-2.1%) 1.29 463
2020-03-01 $415,500 (6.3%) $485,993 (2.7%) 1.30 514
2020-04-01 $403,500 (6.3%) $475,470 (5.4%) 1.26 654
2020-05-01 $425,000 (11.3%) $490,922 (8.1%) 1.29 638
2020-06-01 $450,000 (17.7%) $508,896 (10.9%) 1.31 588
2020-07-01 $427,250 (7.1%) $496,063 (4.8%) 1.22 519
2020-08-01 $434,900 (11.9%) $510,500 (9.7%) 1.24 485
2020-09-01 $447,250 (16.6%) $527,604 (14.6%) 1.28 479
2020-10-01 $449,900 (15.4%) $535,874 (15.5%) 1.29 459
2020-11-01 $439,500 (8.5%) $544,685 (12.7%) 1.26 377
2020-12-01 $437,500 (9.1%) $556,610 (15.5%) 1.28 325
2021-01-01 $425,000 (6.3%) $548,618 (15.2%) 1.25 264
2021-02-01 $420,000 (5.0%) $534,757 (13.0%) 1.21 252
2021-03-01 $435,000 (4.7%) $551,165 (13.4%) 1.22 247
2021-04-01 $438,250 (8.6%) $565,174 (18.9%) 1.18 259
2021-05-01 $450,000 (5.9%) $576,824 (17.5%) 1.18 312
2021-06-01 $451,500 (0.3%) $602,848 (18.5%) 1.17 350
2021-07-01 $449,450 (5.2%) $589,338 (18.8%) 1.17 396
2021-08-01 $462,400 (6.3%) $611,028 (19.7%) 1.22 453
2021-09-01 $456,495 (2.1%) $623,479 (18.2%) 1.20 426
2021-10-01 $457,500 (1.7%) $625,351 (16.7%) 1.20 404
2021-11-01 $468,750 (6.7%) $650,297 (19.4%) 1.24 344
2021-12-01 $465,000 (6.3%) $638,867 (14.8%) 1.24 272
2022-01-01 $459,900 (8.2%) $645,150 (17.6%) 1.23 233
2022-02-01 $474,950 (13.1%) $664,883 (24.3%) 1.21 234
2022-03-01 $467,500 (7.5%) $617,916 (12.1%) 1.15 242
2022-04-01 $489,900 (11.8%) $623,898 (10.4%) 1.15 261
Eugene's median listing price for 2022-04-01 was $489,900, a difference of $51,650 (11.8%) versus the prior year and $22,400 versus the prior month.

Eugene's median listing price comes in at 115% of the national average.

Eugene's average listing price for 2022-04-01 was $623,898, a difference of $58,724 (10.4%) versus the prior year and $5,982 versus the prior month.

For the 2022-04-01 period, Eugene had 261 MLS listings, a difference of 19 listings (8%) versus the prior month and 2 listings (1%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Eugene (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 81 days 1,933 sqft
2018-02-01 66 days 1,983 sqft
2018-03-01 49 days 2,009 sqft
2018-04-01 44 days 2,049 sqft
2018-05-01 39 days 2,063 sqft
2018-06-01 36 days 1,951 sqft
2018-07-01 41 days 1,948 sqft
2018-08-01 42 days 1,928 sqft
2018-09-01 49 days 1,912 sqft
2018-10-01 59 days 1,908 sqft
2018-11-01 58 days 1,857 sqft
2018-12-01 62 days 1,856 sqft
2019-01-01 72 days 1,844 sqft
2019-02-01 67 days 1,896 sqft
2019-03-01 52 days 1,879 sqft
2019-04-01 41 days 1,836 sqft
2019-05-01 29 days 1,857 sqft
2019-06-01 34 days 1,872 sqft
2019-07-01 39 days 1,953 sqft
2019-08-01 39 days 1,929 sqft
2019-09-01 43 days 1,921 sqft
2019-10-01 51 days 1,938 sqft
2019-11-01 63 days 1,992 sqft
2019-12-01 73 days 1,957 sqft
2020-01-01 75 days 1,950 sqft
2020-02-01 53 days 1,960 sqft
2020-03-01 41 days 1,946 sqft
2020-04-01 38 days 1,906 sqft
2020-05-01 56 days 1,947 sqft
2020-06-01 53 days 2,023 sqft
2020-07-01 51 days 1,946 sqft
2020-08-01 44 days 1,948 sqft
2020-09-01 35 days 1,908 sqft
2020-10-01 37 days 1,844 sqft
2020-11-01 55 days 1,739 sqft
2020-12-01 70 days 1,718 sqft
2021-01-01 70 days 1,639 sqft
2021-02-01 50 days 1,590 sqft
2021-03-01 42 days 1,619 sqft
2021-04-01 39 days 1,633 sqft
2021-05-01 30 days 1,663 sqft
2021-06-01 31 days 1,741 sqft
2021-07-01 34 days 1,736 sqft
2021-08-01 34 days 1,708 sqft
2021-09-01 38 days 1,782 sqft
2021-10-01 42 days 1,736 sqft
2021-11-01 46 days 1,748 sqft
2021-12-01 49 days 1,649 sqft
2022-01-01 56 days 1,653 sqft
2022-02-01 34 days 1,724 sqft
2022-03-01 32 days 1,662 sqft
2022-04-01 30 days 1,701 sqft
Eugene's median listing age (time on market) for 2022-04-01 was 30 days. This is -22% shorter than the same period one year ago.

Eugene's median square footage for active listings during the 2022-04-01 period was 1,701 sqft. One year prior, the average listing was 1,633 sqft.