Fairbanks USDA Loan Rates, Closing Costs & Stats
FAIRBANKS, AK
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.
Fairbanks's 3 lenders originated 4 USDA loans during 2023. The total origination value was $1,100,000, with an average USDA loan value of $275,000.
Fairbanks USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Fairbanks
averaged
6.49%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Fairbanks's average USDA mortgage closing costs are $4,867.
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 6.53%.
The average rate one year ago was 6.27%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.66%.
Fairbanks 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 Fairbanks level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Alaska USA Federal Credit Union | 1 | 5.63% | $2,112 |
| NEWREZ LLC | 1 | 5.75% | $12,979 |
| RESIDENTIAL MORTGAGE, LLC | 1 | 6.13% | $6,262 |
The top Fairbanks USDA lender as defined by loan originations is Alaska USA Federal Credit Union, with
1 USDA loans originated. Their average total fees are
$2,112, which is $10,867
lower than the next largest lender,
NEWREZ LLC.
The lowest fee Fairbanks USDA lenders (with over 10 loans originated) are
.
The lowest rate Fairbanks USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Fairbanks (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 | $199,650 (-0.1%) | $205,187 (0.1%) | 0.00 | 249 |
| 2018-02-01 | $199,200 (2.3%) | $202,471 (-1.1%) | 0.00 | 249 |
| 2018-03-01 | $209,900 (5.0%) | $217,187 (1.4%) | 0.00 | 300 |
| 2018-04-01 | $215,500 (7.8%) | $228,412 (7.1%) | 0.00 | 318 |
| 2018-05-01 | $217,225 (8.7%) | $230,186 (8.9%) | 0.00 | 333 |
| 2018-06-01 | $219,950 (8.9%) | $233,210 (9.2%) | 0.00 | 405 |
| 2018-07-01 | $233,650 (11.3%) | $237,025 (9.1%) | 0.00 | 473 |
| 2018-08-01 | $229,950 (8.8%) | $236,458 (8.3%) | 0.00 | 513 |
| 2018-09-01 | $229,900 (9.5%) | $232,113 (6.2%) | 0.00 | 488 |
| 2018-10-01 | $223,850 (9.2%) | $225,466 (7.0%) | 0.00 | 451 |
| 2018-11-01 | $222,450 (11.5%) | $225,133 (10.2%) | 0.00 | 404 |
| 2018-12-01 | $219,900 (11.6%) | $225,804 (10.0%) | 0.00 | 354 |
| 2019-01-01 | $214,900 (7.6%) | $221,481 (7.9%) | 0.00 | 301 |
| 2019-02-01 | $223,125 (12.0%) | $225,758 (11.5%) | 0.00 | 296 |
| 2019-03-01 | $226,071 (7.7%) | $227,912 (4.9%) | 0.00 | 322 |
| 2019-04-01 | $224,950 (4.4%) | $229,335 (0.4%) | 0.00 | 357 |
| 2019-05-01 | $224,938 (3.6%) | $235,787 (2.4%) | 0.00 | 400 |
| 2019-06-01 | $231,451 (5.2%) | $242,717 (4.1%) | 0.00 | 450 |
| 2019-07-01 | $232,700 (-0.4%) | $246,377 (4.0%) | 0.00 | 443 |
| 2019-08-01 | $230,809 (0.4%) | $239,571 (1.3%) | 0.00 | 427 |
| 2019-09-01 | $224,673 (-2.3%) | $232,896 (0.3%) | 0.00 | 404 |
| 2019-10-01 | $220,425 (-1.5%) | $228,446 (1.3%) | 0.00 | 379 |
| 2019-11-01 | $219,900 (-1.2%) | $229,928 (2.1%) | 0.00 | 296 |
| 2019-12-01 | $214,950 (-2.3%) | $220,553 (-2.3%) | 0.00 | 241 |
| 2020-01-01 | $215,000 (0.1%) | $224,468 (1.4%) | 0.00 | 205 |
| 2020-02-01 | $215,000 (-3.6%) | $227,187 (0.6%) | 0.00 | 210 |
| 2020-03-01 | $222,400 (-1.6%) | $235,591 (3.4%) | 0.00 | 247 |
| 2020-04-01 | $227,500 (1.1%) | $239,343 (4.4%) | 0.00 | 256 |
| 2020-05-01 | $231,500 (2.9%) | $245,753 (4.2%) | 0.00 | 270 |
| 2020-06-01 | $231,375 (0.0%) | $245,968 (1.3%) | 0.00 | 277 |
| 2020-07-01 | $230,250 (-1.1%) | $245,632 (-0.3%) | 0.00 | 288 |
| 2020-08-01 | $251,450 (8.9%) | $261,092 (9.0%) | 0.00 | 274 |
| 2020-09-01 | $228,675 (1.8%) | $240,268 (3.2%) | 0.00 | 223 |
| 2020-10-01 | $215,000 (-2.5%) | $235,906 (3.3%) | 0.00 | 209 |
| 2020-11-01 | $202,475 (-7.9%) | $231,544 (0.7%) | 0.00 | 192 |
| 2020-12-01 | $203,625 (-5.3%) | $234,055 (6.1%) | 0.00 | 151 |
| 2021-01-01 | $212,400 (-1.2%) | $240,286 (7.1%) | 0.00 | 119 |
| 2021-02-01 | $203,725 (-5.2%) | $238,577 (5.0%) | 0.00 | 109 |
| 2021-03-01 | $222,200 (-0.1%) | $247,277 (5.0%) | 0.00 | 103 |
| 2021-04-01 | $245,475 (7.9%) | $271,699 (13.5%) | 0.00 | 105 |
| 2021-05-01 | $247,450 (6.9%) | $281,166 (14.4%) | 0.00 | 112 |
| 2021-06-01 | $249,950 (8.0%) | $285,053 (15.9%) | 0.00 | 152 |
| 2021-07-01 | $239,900 (4.2%) | $265,535 (8.1%) | 0.00 | 195 |
| 2021-08-01 | $249,900 (-0.6%) | $278,429 (6.6%) | 0.00 | 243 |
| 2021-09-01 | $249,975 (9.3%) | $278,792 (16.0%) | 0.00 | 225 |
| 2021-10-01 | $245,000 (14.0%) | $276,245 (17.1%) | 0.00 | 192 |
| 2021-11-01 | $241,900 (19.5%) | $284,235 (22.8%) | 0.00 | 142 |
| 2021-12-01 | $262,700 (29.0%) | $302,505 (29.3%) | 0.00 | 104 |
| 2022-01-01 | $249,450 (17.4%) | $302,647 (26.0%) | 0.00 | 81 |
| 2022-02-01 | $251,450 (23.4%) | $321,373 (34.7%) | 0.00 | 74 |
| 2022-03-01 | $300,000 (35.0%) | $343,378 (38.9%) | 0.00 | 83 |
| 2022-04-01 | $329,900 (34.4%) | $355,285 (30.8%) | 0.00 | 95 |
| 2022-05-01 | $339,450 (37.2%) | $358,950 (27.7%) | 0.00 | 116 |
| 2022-06-01 | $339,900 (36.0%) | $355,100 (24.6%) | 0.00 | 185 |
| 2022-07-01 | $339,900 (41.7%) | $346,816 (30.6%) | 0.00 | 279 |
| 2022-08-01 | $339,900 (36.0%) | $347,793 (24.9%) | 0.00 | 285 |
| 2022-09-01 | $342,450 (37.0%) | $347,843 (24.8%) | 0.00 | 263 |
| 2022-10-01 | $329,450 (34.5%) | $341,346 (23.6%) | 0.00 | 236 |
| 2022-11-01 | $328,450 (35.8%) | $345,690 (21.6%) | 0.00 | 203 |
| 2022-12-01 | $325,000 (23.7%) | $341,510 (12.9%) | 0.00 | 178 |
| 2023-01-01 | $315,750 (26.6%) | $331,543 (9.6%) | 0.00 | 144 |
| 2023-02-01 | $324,700 (29.1%) | $338,502 (5.3%) | 0.00 | 128 |
| 2023-03-01 | $330,000 (10.0%) | $353,860 (3.1%) | 0.00 | 121 |
| 2023-04-01 | $349,900 (6.1%) | $367,403 (3.4%) | 0.00 | 133 |
| 2023-05-01 | $350,000 (3.1%) | $383,611 (6.9%) | 0.00 | 138 |
| 2023-06-01 | $333,000 (-2.0%) | $349,071 (-1.7%) | 0.00 | 153 |
| 2023-07-01 | $321,000 (-5.6%) | $340,681 (-1.8%) | 0.00 | 207 |
| 2023-08-01 | $313,400 (-7.8%) | $331,702 (-4.6%) | 0.00 | 237 |
| 2023-09-01 | $320,000 (-6.6%) | $333,201 (-4.2%) | 0.00 | 274 |
| 2023-10-01 | $318,750 (-3.3%) | $333,217 (-2.4%) | 0.00 | 235 |
| 2023-11-01 | $312,400 (-4.9%) | $322,389 (-6.7%) | 0.00 | 221 |
| 2023-12-01 | $300,000 (-7.7%) | $318,045 (-6.9%) | 0.00 | 194 |
| 2024-01-01 | $305,400 (-3.3%) | $316,621 (-4.5%) | 0.00 | 166 |
| 2024-02-01 | $320,750 (-1.2%) | $326,579 (-3.5%) | 0.00 | 142 |
| 2024-03-01 | $309,000 (-6.4%) | $320,703 (-9.4%) | 0.00 | 133 |
Fairbanks's median listing price comes in at 0% of the national average.
Fairbanks's average listing price for 2024-03-01 was $320,703, a difference of $-33,157 (-9.4%) versus the prior year and $-5,876 versus the prior month.
For the 2024-03-01 period, Fairbanks had 133 MLS listings, a difference of -9 listings (-6%) versus the prior month and 12 listings (10%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Fairbanks (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,560 sqft |
| 2018-02-01 | 0 days | 1,545 sqft |
| 2018-03-01 | 0 days | 1,568 sqft |
| 2018-04-01 | 0 days | 1,600 sqft |
| 2018-05-01 | 0 days | 1,600 sqft |
| 2018-06-01 | 0 days | 1,607 sqft |
| 2018-07-01 | 0 days | 1,694 sqft |
| 2018-08-01 | 0 days | 1,678 sqft |
| 2018-09-01 | 0 days | 1,667 sqft |
| 2018-10-01 | 0 days | 1,606 sqft |
| 2018-11-01 | 0 days | 1,605 sqft |
| 2018-12-01 | 0 days | 1,604 sqft |
| 2019-01-01 | 0 days | 1,600 sqft |
| 2019-02-01 | 0 days | 1,607 sqft |
| 2019-03-01 | 0 days | 1,575 sqft |
| 2019-04-01 | 0 days | 1,553 sqft |
| 2019-05-01 | 0 days | 1,603 sqft |
| 2019-06-01 | 0 days | 1,689 sqft |
| 2019-07-01 | 0 days | 1,759 sqft |
| 2019-08-01 | 0 days | 1,745 sqft |
| 2019-09-01 | 0 days | 1,700 sqft |
| 2019-10-01 | 0 days | 1,650 sqft |
| 2019-11-01 | 0 days | 1,596 sqft |
| 2019-12-01 | 0 days | 1,578 sqft |
| 2020-01-01 | 0 days | 1,584 sqft |
| 2020-02-01 | 0 days | 1,536 sqft |
| 2020-03-01 | 0 days | 1,610 sqft |
| 2020-04-01 | 0 days | 1,611 sqft |
| 2020-05-01 | 0 days | 1,631 sqft |
| 2020-06-01 | 0 days | 1,556 sqft |
| 2020-07-01 | 0 days | 1,569 sqft |
| 2020-08-01 | 0 days | 1,743 sqft |
| 2020-09-01 | 0 days | 1,732 sqft |
| 2020-10-01 | 0 days | 1,670 sqft |
| 2020-11-01 | 0 days | 1,584 sqft |
| 2020-12-01 | 0 days | 1,595 sqft |
| 2021-01-01 | 0 days | 1,546 sqft |
| 2021-02-01 | 0 days | 1,449 sqft |
| 2021-03-01 | 0 days | 1,508 sqft |
| 2021-04-01 | 0 days | 1,573 sqft |
| 2021-05-01 | 0 days | 1,600 sqft |
| 2021-06-01 | 0 days | 1,552 sqft |
| 2021-07-01 | 0 days | 1,481 sqft |
| 2021-08-01 | 0 days | 1,537 sqft |
| 2021-09-01 | 0 days | 1,603 sqft |
| 2021-10-01 | 0 days | 1,564 sqft |
| 2021-11-01 | 0 days | 1,633 sqft |
| 2021-12-01 | 0 days | 1,738 sqft |
| 2022-01-01 | 0 days | 1,647 sqft |
| 2022-02-01 | 0 days | 1,558 sqft |
| 2022-03-01 | 0 days | 1,808 sqft |
| 2022-04-01 | 0 days | 1,782 sqft |
| 2022-05-01 | 0 days | 1,766 sqft |
| 2022-06-01 | 0 days | 1,740 sqft |
| 2022-07-01 | 0 days | 1,824 sqft |
| 2022-08-01 | 0 days | 1,863 sqft |
| 2022-09-01 | 0 days | 1,833 sqft |
| 2022-10-01 | 0 days | 1,808 sqft |
| 2022-11-01 | 0 days | 1,805 sqft |
| 2022-12-01 | 0 days | 1,824 sqft |
| 2023-01-01 | 0 days | 1,792 sqft |
| 2023-02-01 | 0 days | 1,820 sqft |
| 2023-03-01 | 0 days | 1,790 sqft |
| 2023-04-01 | 0 days | 1,796 sqft |
| 2023-05-01 | 0 days | 1,882 sqft |
| 2023-06-01 | 0 days | 1,783 sqft |
| 2023-07-01 | 0 days | 1,652 sqft |
| 2023-08-01 | 0 days | 1,647 sqft |
| 2023-09-01 | 0 days | 1,644 sqft |
| 2023-10-01 | 0 days | 1,662 sqft |
| 2023-11-01 | 0 days | 1,662 sqft |
| 2023-12-01 | 0 days | 1,664 sqft |
| 2024-01-01 | 0 days | 1,636 sqft |
| 2024-02-01 | 0 days | 1,601 sqft |
| 2024-03-01 | 0 days | 1,600 sqft |
Fairbanks's median square footage for active listings during the 2024-03-01 period was 1,600 sqft. One year prior, the average listing was 1,790 sqft.