Fresno USDA Loans

FRESNO, 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.

    Fresno's 30 lenders originated 117 USDA loans during 2021. The total origination value was $33,245,000, with an average USDA loan value of $284,145.

    Fresno USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Fresno averaged 6.02% for the week of 2022-09-23, compared to the national average (all USDA variants) of 6.08% for the same period.

    The average rate for the prior week (2022-09-16) was 5.85% and one month ago for the week of 2022-08-19, the average rate was 5.23%.

    The average rate one year ago was 2.86%.

    For refis of the same type during the week of 2022-09-23, the average rate was 6.1%.

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

    Fresno 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 Fresno level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    KINGS MORTGAGE SERVICES, INC. 28 2.66% $7,877
    HOME POINT FINANCIAL CORPORATION 11 2.69% $8,647
    COUNTRY CLUB MORTGAGE, INC. 11 2.72% $6,242
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 9 2.93% $7,939
    HOMEBRIDGE FINANCIAL SERVICES, INC. 6 2.58% $9,239
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 2.98% $7,607
    Sierra Pacific Mortgage Company, Inc. 4 2.50% $6,239
    PENNYMAC LOAN SERVICES, LLC 4 2.63% $5,605
    CALCON MUTUAL MORTGAGE LLC 3 3.13% $10,838
    Hometown Equity Mortgage, LLC 3 2.71% $7,743
    MLD MORTGAGE INC. 2 3.13% $6,863
    Flagstar Bank, FSB 2 2.75% $7,032
    Commerce Home Mortgage, Inc. 2 2.88% $9,613
    SUN WEST MORTGAGE COMPANY, INC. 2 2.31% $5,456
    Amerifirst Financial, Inc. 2 2.63% $5,473
    UNITED WHOLESALE MORTGAGE, LLC 1 3.00% $7,797
    AMERICAN FINANCIAL NETWORK, INC. 1 3.00% $4,585
    BAY EQUITY LLC 1 3.63% $6,668
    Carrington Mortgage Services, LLC 1 2.63% $5,072
    ENVOY MORTGAGE, LTD 1 3.50% $9,211
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.63% $8,521
    LOANDEPOT.COM, LLC 1 3.00% $7,429
    MOVEMENT MORTGAGE, LLC 1 2.38% $6,952
    Plains Commerce Bank 1 3.00% $3,917
    PLANET HOME LENDING, LLC 1 2.25% $2,428
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 3.25% $8,688
    RESIDENTIAL BANCORP. 1 3.13% $11,216
    STEARNS LENDING, LLC 1 4.00% $8,396
    SUMMIT FUNDING, INC. 1 2.75% $6,654
    ALAMEDA MORTGAGE CORPORATION 1 3.75% $9,634

    The top Fresno USDA lender as defined by loan originations is KINGS MORTGAGE SERVICES, INC., with 28 USDA loans originated. Their average total fees are $7,877, which is $770 lower than the next largest lender, HOME POINT FINANCIAL CORPORATION.

    The lowest fee Fresno USDA lenders (with over 10 loans originated) are COUNTRY CLUB MORTGAGE, INC. ($6,242), KINGS MORTGAGE SERVICES, INC. ($7,877), HOME POINT FINANCIAL CORPORATION ($8,647), .

    The lowest rate Fresno USDA lenders (with over 10 loans originated) are KINGS MORTGAGE SERVICES, INC. (2.66%), HOME POINT FINANCIAL CORPORATION (2.69%), COUNTRY CLUB MORTGAGE, INC. (2.72%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Fresno (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 $299,900 (11.3%) $386,407 (4.5%) 1.10 1,338
    2018-02-01 $299,950 (11.1%) $389,187 (5.1%) 1.08 1,355
    2018-03-01 $304,900 (12.7%) $397,862 (6.2%) 1.06 1,397
    2018-04-01 $311,350 (7.7%) $399,902 (4.1%) 1.04 1,471
    2018-05-01 $316,500 (5.5%) $407,894 (1.2%) 1.06 1,542
    2018-06-01 $315,000 (4.1%) $413,021 (1.3%) 1.05 1,642
    2018-07-01 $314,950 (5.0%) $411,431 (2.4%) 1.05 1,724
    2018-08-01 $315,000 (5.3%) $402,339 (1.8%) 1.05 1,861
    2018-09-01 $310,000 (3.7%) $394,138 (0.8%) 1.04 1,984
    2018-10-01 $309,000 (3.0%) $401,644 (3.6%) 1.03 2,065
    2018-11-01 $307,600 (0.4%) $399,855 (2.9%) 1.03 2,001
    2018-12-01 $308,000 (1.0%) $401,862 (3.7%) 1.05 1,818
    2019-01-01 $299,950 (0.0%) $384,913 (-0.4%) 1.03 1,690
    2019-02-01 $299,900 (0.0%) $384,817 (-1.1%) 1.00 1,752
    2019-03-01 $306,429 (0.5%) $398,700 (0.2%) 1.00 1,743
    2019-04-01 $315,000 (1.2%) $401,326 (0.4%) 0.99 1,814
    2019-05-01 $325,000 (2.7%) $403,243 (-1.1%) 1.00 1,882
    2019-06-01 $335,000 (6.4%) $409,559 (-0.8%) 1.03 1,902
    2019-07-01 $339,700 (7.9%) $416,143 (1.2%) 1.06 1,859
    2019-08-01 $334,114 (6.1%) $411,413 (2.3%) 1.05 1,858
    2019-09-01 $328,413 (5.9%) $404,112 (2.5%) 1.04 1,826
    2019-10-01 $327,599 (6.0%) $403,868 (0.6%) 1.05 1,837
    2019-11-01 $325,000 (5.7%) $407,051 (1.8%) 1.05 1,751
    2019-12-01 $326,300 (5.9%) $404,622 (0.7%) 1.09 1,551
    2020-01-01 $325,760 (8.6%) $406,511 (5.6%) 1.09 1,335
    2020-02-01 $319,500 (6.5%) $400,535 (4.1%) 1.03 1,299
    2020-03-01 $334,225 (9.1%) $420,394 (5.4%) 1.04 1,240
    2020-04-01 $329,750 (4.7%) $413,822 (3.1%) 1.03 1,315
    2020-05-01 $338,400 (4.1%) $425,244 (5.5%) 1.03 1,202
    2020-06-01 $345,300 (3.1%) $440,515 (7.6%) 1.01 1,010
    2020-07-01 $352,000 (3.6%) $455,889 (9.6%) 1.01 836
    2020-08-01 $349,999 (4.8%) $464,293 (12.9%) 1.00 779
    2020-09-01 $352,000 (7.2%) $470,925 (16.5%) 1.01 806
    2020-10-01 $350,000 (6.8%) $471,396 (16.7%) 1.00 813
    2020-11-01 $353,000 (8.6%) $490,584 (20.5%) 1.01 732
    2020-12-01 $336,950 (3.3%) $469,431 (16.0%) 0.99 674
    2021-01-01 $350,000 (7.4%) $476,385 (17.2%) 1.03 536
    2021-02-01 $350,000 (9.6%) $494,793 (23.5%) 1.01 506
    2021-03-01 $352,500 (5.5%) $506,976 (20.6%) 0.99 518
    2021-04-01 $375,000 (13.7%) $533,375 (28.9%) 1.01 536
    2021-05-01 $389,000 (15.0%) $557,641 (31.1%) 1.02 588
    2021-06-01 $400,000 (15.8%) $562,428 (27.7%) 1.04 714
    2021-07-01 $399,925 (13.6%) $554,720 (21.7%) 1.04 791
    2021-08-01 $400,000 (14.3%) $543,803 (17.1%) 1.05 852
    2021-09-01 $402,500 (14.4%) $760,408 (61.5%) 1.06 872
    2021-10-01 $400,000 (14.3%) $529,161 (12.3%) 1.05 846
    2021-11-01 $412,500 (16.9%) $555,773 (13.3%) 1.09 783
    2021-12-01 $425,000 (26.1%) $555,943 (18.4%) 1.13 671
    2022-01-01 $410,000 (17.1%) $562,724 (18.1%) 1.09 538
    2022-02-01 $390,000 (11.4%) $549,776 (11.1%) 0.99 538
    2022-03-01 $412,450 (17.0%) $559,759 (10.4%) 1.02 585
    2022-04-01 $425,000 (13.3%) $567,229 (6.4%) 1.00 684
    2022-05-01 $447,000 (14.9%) $569,302 (2.1%) 1.00 867
    2022-06-01 $445,000 (11.3%) $561,645 (-0.1%) 0.99 1,087
    2022-07-01 $445,000 (11.3%) $548,184 (-1.2%) 0.99 1,415
    2022-08-01 $437,450 (9.4%) $541,616 (-0.4%) 1.01 1,474
    Fresno's median listing price for 2022-08-01 was $437,450, a difference of $37,450 (9.4%) versus the prior year and $-7,550 versus the prior month.

    Fresno's median listing price comes in at 101% of the national average.

    Fresno's average listing price for 2022-08-01 was $541,616, a difference of $-2,187 (-0.4%) versus the prior year and $-6,568 versus the prior month.

    For the 2022-08-01 period, Fresno had 1,474 MLS listings, a difference of 59 listings (4%) versus the prior month and 622 listings (73%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fresno (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 60 days 1,845 sqft
    2018-02-01 41 days 1,851 sqft
    2018-03-01 42 days 1,884 sqft
    2018-04-01 42 days 1,892 sqft
    2018-05-01 40 days 1,878 sqft
    2018-06-01 39 days 1,877 sqft
    2018-07-01 39 days 1,873 sqft
    2018-08-01 40 days 1,854 sqft
    2018-09-01 44 days 1,843 sqft
    2018-10-01 46 days 1,842 sqft
    2018-11-01 51 days 1,840 sqft
    2018-12-01 61 days 1,857 sqft
    2019-01-01 62 days 1,824 sqft
    2019-02-01 48 days 1,820 sqft
    2019-03-01 45 days 1,851 sqft
    2019-04-01 39 days 1,882 sqft
    2019-05-01 41 days 1,933 sqft
    2019-06-01 45 days 1,940 sqft
    2019-07-01 49 days 1,950 sqft
    2019-08-01 47 days 1,921 sqft
    2019-09-01 49 days 1,898 sqft
    2019-10-01 48 days 1,877 sqft
    2019-11-01 49 days 1,868 sqft
    2019-12-01 55 days 1,870 sqft
    2020-01-01 63 days 1,855 sqft
    2020-02-01 42 days 1,804 sqft
    2020-03-01 41 days 1,866 sqft
    2020-04-01 42 days 1,862 sqft
    2020-05-01 50 days 1,875 sqft
    2020-06-01 42 days 1,886 sqft
    2020-07-01 39 days 1,890 sqft
    2020-08-01 30 days 1,876 sqft
    2020-09-01 28 days 1,857 sqft
    2020-10-01 28 days 1,846 sqft
    2020-11-01 37 days 1,837 sqft
    2020-12-01 37 days 1,776 sqft
    2021-01-01 39 days 1,793 sqft
    2021-02-01 23 days 1,773 sqft
    2021-03-01 18 days 1,804 sqft
    2021-04-01 17 days 1,841 sqft
    2021-05-01 15 days 1,848 sqft
    2021-06-01 17 days 1,883 sqft
    2021-07-01 22 days 1,872 sqft
    2021-08-01 24 days 1,870 sqft
    2021-09-01 28 days 1,859 sqft
    2021-10-01 29 days 1,800 sqft
    2021-11-01 30 days 1,853 sqft
    2021-12-01 36 days 1,858 sqft
    2022-01-01 38 days 1,773 sqft
    2022-02-01 34 days 1,705 sqft
    2022-03-01 32 days 1,721 sqft
    2022-04-01 30 days 1,779 sqft
    2022-05-01 29 days 1,796 sqft
    2022-06-01 28 days 1,806 sqft
    2022-07-01 32 days 1,806 sqft
    2022-08-01 37 days 1,786 sqft
    Fresno's median listing age (time on market) for 2022-08-01 was 37 days. This is 54% longer than the same period one year ago.

    Fresno's median square footage for active listings during the 2022-08-01 period was 1,786 sqft. One year prior, the average listing was 1,870 sqft.