Fresno USDA Loan Rates, Closing Costs & Stats

FRESNO, 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.

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 0.14% for the week of 2023-01-20, compared to the national average (all USDA variants) of 0% for the same period.

Fresno's average USDA mortgage closing costs are $7,257.

The average rate for the prior week (2023-01-13) was 6.38% and one month ago for the week of 2022-12-16, the average rate was 6.36%.

The average rate one year ago was 3.67%.

For refis of the same type during the week of 2023-01-20, the average rate was 0.02%.

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/closing costs 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. Closing Costs
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 $299,990 (11.6%) $387,495 (6.5%) 1.11 1,261
2018-02-01 $299,575 (11.2%) $389,566 (7.3%) 1.09 1,278
2018-03-01 $300,000 (11.1%) $397,689 (8.6%) 1.05 1,322
2018-04-01 $310,593 (7.5%) $399,753 (6.4%) 1.05 1,389
2018-05-01 $313,000 (4.4%) $407,362 (3.2%) 1.05 1,456
2018-06-01 $315,000 (2.4%) $413,073 (3.0%) 1.05 1,553
2018-07-01 $315,000 (5.0%) $406,358 (1.5%) 1.05 1,634
2018-08-01 $316,500 (5.7%) $400,591 (0.6%) 1.06 1,738
2018-09-01 $312,425 (4.5%) $393,909 (0.9%) 1.05 1,842
2018-10-01 $309,450 (3.2%) $399,082 (2.8%) 1.05 1,909
2018-11-01 $305,000 (0.3%) $395,945 (1.9%) 1.03 1,863
2018-12-01 $305,000 (0.7%) $394,482 (1.8%) 1.05 1,689
2019-01-01 $299,936 (0.0%) $376,805 (-2.8%) 1.04 1,565
2019-02-01 $299,975 (0.1%) $379,081 (-2.7%) 1.01 1,634
2019-03-01 $308,473 (2.8%) $390,755 (-1.7%) 1.01 1,636
2019-04-01 $313,850 (1.1%) $390,533 (-2.3%) 1.00 1,697
2019-05-01 $320,000 (2.2%) $397,510 (-2.4%) 1.00 1,736
2019-06-01 $330,000 (4.8%) $404,111 (-2.2%) 1.03 1,772
2019-07-01 $338,940 (7.6%) $413,091 (1.7%) 1.06 1,738
2019-08-01 $333,000 (5.2%) $408,626 (2.0%) 1.05 1,756
2019-09-01 $328,500 (5.2%) $402,498 (2.2%) 1.05 1,759
2019-10-01 $325,500 (5.2%) $402,283 (0.8%) 1.05 1,733
2019-11-01 $325,000 (6.6%) $405,851 (2.5%) 1.07 1,633
2019-12-01 $325,000 (6.6%) $402,752 (2.1%) 1.08 1,449
2020-01-01 $326,500 (8.9%) $407,581 (8.2%) 1.09 1,251
2020-02-01 $324,933 (8.3%) $400,821 (5.7%) 1.06 1,226
2020-03-01 $338,508 (9.7%) $422,040 (8.0%) 1.06 1,160
2020-04-01 $333,106 (6.1%) $414,755 (6.2%) 1.04 1,238
2020-05-01 $340,000 (6.3%) $424,726 (6.9%) 1.03 1,146
2020-06-01 $345,440 (4.7%) $438,968 (8.6%) 1.02 964
2020-07-01 $351,820 (3.8%) $450,990 (9.2%) 1.02 804
2020-08-01 $350,000 (5.1%) $459,550 (12.5%) 1.00 751
2020-09-01 $352,500 (7.3%) $461,964 (14.8%) 1.01 771
2020-10-01 $349,900 (7.5%) $464,265 (15.4%) 1.00 776
2020-11-01 $351,500 (8.2%) $478,985 (18.0%) 1.03 705
2020-12-01 $344,000 (5.9%) $460,445 (14.3%) 1.02 640
2021-01-01 $350,000 (7.2%) $464,047 (13.9%) 1.04 513
2021-02-01 $349,725 (7.6%) $473,570 (18.2%) 1.02 478
2021-03-01 $354,950 (4.9%) $484,725 (14.9%) 1.01 482
2021-04-01 $375,000 (12.6%) $517,185 (24.7%) 1.02 511
2021-05-01 $385,000 (13.2%) $536,425 (26.3%) 1.02 554
2021-06-01 $399,923 (15.8%) $543,535 (23.8%) 1.05 663
2021-07-01 $399,000 (13.4%) $535,184 (18.7%) 1.05 744
2021-08-01 $399,225 (14.1%) $533,269 (16.0%) 1.06 786
2021-09-01 $399,950 (13.5%) $653,605 (41.5%) 1.07 791
2021-10-01 $399,900 (14.3%) $520,352 (12.1%) 1.07 762
2021-11-01 $402,296 (14.5%) $530,263 (10.7%) 1.07 706
2021-12-01 $417,500 (21.4%) $537,360 (16.7%) 1.13 608
2022-01-01 $409,950 (17.1%) $546,018 (17.7%) 1.11 481
2022-02-01 $392,500 (12.2%) $532,803 (12.5%) 1.02 481
2022-03-01 $407,500 (14.8%) $542,486 (11.9%) 1.02 529
2022-04-01 $425,900 (13.6%) $555,168 (7.3%) 1.02 602
2022-05-01 $439,950 (14.3%) $561,144 (4.6%) 1.01 781
2022-06-01 $441,000 (10.3%) $557,575 (2.6%) 0.98 963
2022-07-01 $439,900 (10.3%) $541,342 (1.2%) 1.00 1,264
2022-08-01 $431,400 (8.1%) $534,448 (0.2%) 1.00 1,276
2022-09-01 $430,513 (7.6%) $528,811 (-19.1%) 1.01 1,276
2022-10-01 $425,550 (6.4%) $524,289 (0.8%) 1.00 1,301
2022-11-01 $419,850 (4.4%) $529,414 (-0.2%) 1.01 1,302
2022-12-01 $420,000 (0.6%) $534,118 (-0.6%) 1.05 1,128
Fresno's median listing price for 2022-12-01 was $420,000, a difference of $2,500 (0.6%) versus the prior year and $150 versus the prior month.

Fresno's median listing price comes in at 105% of the national average.

Fresno's average listing price for 2022-12-01 was $534,118, a difference of $-3,242 (-0.6%) versus the prior year and $4,704 versus the prior month.

For the 2022-12-01 period, Fresno had 1,128 MLS listings, a difference of -174 listings (-13%) versus the prior month and 520 listings (86%) 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 1,833 sqft
2018-02-01 40 days 1,835 sqft
2018-03-01 43 days 1,869 sqft
2018-04-01 43 days 1,885 sqft
2018-05-01 39 days 1,870 sqft
2018-06-01 39 days 1,874 sqft
2018-07-01 39 days 1,861 sqft
2018-08-01 41 days 1,841 sqft
2018-09-01 45 days 1,833 sqft
2018-10-01 47 days 1,828 sqft
2018-11-01 51 days 1,828 sqft
2018-12-01 60 days 1,828 sqft
2019-01-01 63 days 1,811 sqft
2019-02-01 48 days 1,808 sqft
2019-03-01 43 days 1,845 sqft
2019-04-01 40 days 1,870 sqft
2019-05-01 42 days 1,886 sqft
2019-06-01 46 days 1,900 sqft
2019-07-01 47 days 1,904 sqft
2019-08-01 47 days 1,889 sqft
2019-09-01 47 days 1,873 sqft
2019-10-01 48 days 1,862 sqft
2019-11-01 51 days 1,856 sqft
2019-12-01 58 days 1,855 sqft
2020-01-01 64 days 1,831 sqft
2020-02-01 45 days 1,797 sqft
2020-03-01 41 days 1,857 sqft
2020-04-01 43 days 1,853 sqft
2020-05-01 50 days 1,876 sqft
2020-06-01 43 days 1,875 sqft
2020-07-01 38 days 1,873 sqft
2020-08-01 29 days 1,859 sqft
2020-09-01 26 days 1,837 sqft
2020-10-01 28 days 1,828 sqft
2020-11-01 36 days 1,820 sqft
2020-12-01 37 days 1,765 sqft
2021-01-01 40 days 1,769 sqft
2021-02-01 23 days 1,741 sqft
2021-03-01 18 days 1,767 sqft
2021-04-01 15 days 1,822 sqft
2021-05-01 15 days 1,806 sqft
2021-06-01 16 days 1,856 sqft
2021-07-01 22 days 1,853 sqft
2021-08-01 23 days 1,844 sqft
2021-09-01 27 days 1,831 sqft
2021-10-01 26 days 1,794 sqft
2021-11-01 30 days 1,830 sqft
2021-12-01 35 days 1,832 sqft
2022-01-01 35 days 1,782 sqft
2022-02-01 30 days 1,696 sqft
2022-03-01 30 days 1,717 sqft
2022-04-01 26 days 1,770 sqft
2022-05-01 24 days 1,792 sqft
2022-06-01 26 days 1,801 sqft
2022-07-01 32 days 1,792 sqft
2022-08-01 37 days 1,760 sqft
2022-09-01 44 days 1,772 sqft
2022-10-01 46 days 1,746 sqft
2022-11-01 47 days 1,728 sqft
2022-12-01 57 days 1,763 sqft
Fresno's median listing age (time on market) for 2022-12-01 was 57 days. This is 63% longer than the same period one year ago.

Fresno's median square footage for active listings during the 2022-12-01 period was 1,763 sqft. One year prior, the average listing was 1,832 sqft.