Fresno USDA Loan Rates, Closing Costs & Stats

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 19 lenders originated 53 USDA loans during 2022. The total origination value was $16,695,000, with an average USDA loan value of $315,000.

    Fresno USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Fresno averaged 6.65% for the week of 2023-09-22, compared to the national average (all USDA variants) of 7.021% for the same period.

    Fresno's average USDA mortgage closing costs are $7,671.

    The average rate for the prior week (2023-09-15) was 6.81% and one month ago for the week of 2023-08-18, the average rate was 6.71%.

    The average rate one year ago was 5.44%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.52%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    KINGS MORTGAGE SERVICES, INC. 12 4.14% $12,203
    COUNTRY CLUB MORTGAGE, INC. 6 4.40% $9,217
    HOMEBRIDGE FINANCIAL SERVICES, INC. 6 3.79% $9,672
    UNITED WHOLESALE MORTGAGE, LLC 4 4.03% $13,633
    Century Mortgage Company DBA Century Lending Company 4 4.56% $10,593
    HOME POINT FINANCIAL CORPORATION 3 3.46% $12,109
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 4.75% $7,857
    GUILD MORTGAGE COMPANY 2 5.19% $14,328
    Sierra Pacific Mortgage Company, Inc. 2 3.00% $9,727
    CARDINAL FINANCIAL 2 4.44% $13,025
    PLAZA HOME MORTGAGE, INC. 1 6.75% $9,541
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.50% $14,547
    RESIDENTIAL BANCORP 1 5.75% $8,302
    CMG MORTGAGE, INC. 1 4.50% $8,928
    ALAMEDA MORTGAGE CORPORATION 1 5.63% $8,179
    Flagstar Bank, FSB 1 2.63% $8,869
    GUARANTEED RATE, INC. 1 2.75% $17,357
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 1 4.13% $21,917
    PENNYMAC LOAN SERVICES, LLC 1 3.25% $6,012

    The top Fresno USDA lender as defined by loan originations is KINGS MORTGAGE SERVICES, INC., with 12 USDA loans originated. Their average total fees are $12,203, which is $2,986 higher than the next largest lender, COUNTRY CLUB MORTGAGE, INC..

    The lowest fee Fresno USDA lenders (with over 10 loans originated) are KINGS MORTGAGE SERVICES, INC. ($12,203), .

    The lowest rate Fresno USDA lenders (with over 10 loans originated) are KINGS MORTGAGE SERVICES, INC. (4.14%), .

    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%) $390,744 (-1.8%) 1.01 1,635
    2019-04-01 $314,225 (1.2%) $390,572 (-2.3%) 1.00 1,696
    2019-05-01 $320,000 (2.2%) $397,515 (-2.4%) 1.00 1,736
    2019-06-01 $330,000 (4.8%) $404,214 (-2.1%) 1.03 1,771
    2019-07-01 $338,970 (7.6%) $413,200 (1.7%) 1.06 1,737
    2019-08-01 $333,000 (5.2%) $408,732 (2.0%) 1.05 1,755
    2019-09-01 $328,500 (5.2%) $402,602 (2.2%) 1.05 1,758
    2019-10-01 $325,500 (5.2%) $402,388 (0.8%) 1.05 1,732
    2019-11-01 $325,000 (6.6%) $405,965 (2.5%) 1.07 1,632
    2019-12-01 $325,000 (6.6%) $402,875 (2.1%) 1.08 1,448
    2020-01-01 $326,500 (8.9%) $407,729 (8.2%) 1.09 1,250
    2020-02-01 $324,967 (8.3%) $400,964 (5.8%) 1.07 1,225
    2020-03-01 $338,950 (9.9%) $422,207 (8.1%) 1.06 1,159
    2020-04-01 $333,738 (6.2%) $414,911 (6.2%) 1.05 1,237
    2020-05-01 $340,000 (6.3%) $424,896 (6.9%) 1.03 1,145
    2020-06-01 $345,450 (4.7%) $439,174 (8.7%) 1.02 963
    2020-07-01 $351,890 (3.8%) $451,237 (9.2%) 1.02 803
    2020-08-01 $350,000 (5.1%) $459,816 (12.5%) 1.00 750
    2020-09-01 $353,086 (7.5%) $462,231 (14.8%) 1.01 770
    2020-10-01 $349,900 (7.5%) $464,539 (15.5%) 1.00 775
    2020-11-01 $352,500 (8.5%) $479,316 (18.1%) 1.03 704
    2020-12-01 $344,250 (5.9%) $460,766 (14.4%) 1.02 639
    2021-01-01 $350,000 (7.2%) $464,446 (13.9%) 1.04 512
    2021-02-01 $349,950 (7.7%) $474,006 (18.2%) 1.02 477
    2021-03-01 $354,950 (4.7%) $485,154 (14.9%) 1.01 481
    2021-04-01 $375,000 (12.4%) $517,645 (24.8%) 1.02 510
    2021-05-01 $385,000 (13.2%) $536,925 (26.4%) 1.02 553
    2021-06-01 $399,945 (15.8%) $543,926 (23.9%) 1.05 662
    2021-07-01 $399,000 (13.4%) $535,525 (18.7%) 1.05 744
    2021-08-01 $399,113 (14.0%) $533,415 (16.0%) 1.06 787
    2021-09-01 $399,938 (13.3%) $653,209 (41.3%) 1.07 792
    2021-10-01 $399,900 (14.3%) $520,263 (12.0%) 1.07 763
    2021-11-01 $401,963 (14.0%) $530,268 (10.6%) 1.07 706
    2021-12-01 $417,500 (21.3%) $537,784 (16.7%) 1.13 607
    2022-01-01 $409,999 (17.1%) $546,660 (17.7%) 1.11 482
    2022-02-01 $393,250 (12.4%) $533,345 (12.5%) 1.02 480
    2022-03-01 $407,500 (14.8%) $542,982 (11.9%) 1.02 528
    2022-04-01 $426,845 (13.8%) $555,625 (7.3%) 1.02 601
    2022-05-01 $441,450 (14.7%) $561,625 (4.6%) 1.01 781
    2022-06-01 $442,450 (10.6%) $557,960 (2.6%) 0.99 963
    2022-07-01 $439,900 (10.3%) $541,683 (1.2%) 0.99 1,264
    2022-08-01 $432,500 (8.4%) $534,591 (0.2%) 1.00 1,276
    2022-09-01 $430,925 (7.8%) $528,888 (-19.0%) 1.01 1,276
    2022-10-01 $426,675 (6.7%) $525,461 (1.0%) 1.00 1,301
    2022-11-01 $419,950 (4.5%) $529,787 (-0.1%) 1.01 1,303
    2022-12-01 $425,000 (1.8%) $536,537 (-0.2%) 1.05 1,121
    2023-01-01 $429,925 (4.9%) $547,462 (0.2%) 1.07 983
    2023-02-01 $427,125 (8.6%) $567,724 (6.5%) 1.03 845
    2023-03-01 $429,998 (5.5%) $586,871 (8.1%) 1.01 774
    2023-04-01 $443,000 (3.8%) $614,390 (10.6%) 1.03 681
    2023-05-01 $458,235 (3.8%) $620,465 (10.5%) 1.04 695
    2023-06-01 $471,480 (6.6%) $619,522 (11.0%) 1.06 748
    2023-07-01 $475,165 (8.0%) $622,453 (14.9%) 1.08 817
    2023-08-01 $463,881 (7.3%) $616,691 (15.4%) 1.07 918
    Fresno's median listing price for 2023-08-01 was $463,881, a difference of $31,381 (7.3%) versus the prior year and $-11,284 versus the prior month.

    Fresno's median listing price comes in at 107% of the national average.

    Fresno's average listing price for 2023-08-01 was $616,691, a difference of $82,100 (15.4%) versus the prior year and $-5,762 versus the prior month.

    For the 2023-08-01 period, Fresno had 918 MLS listings, a difference of 101 listings (12%) versus the prior month and -358 listings (-28%) 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 59 days 1,832 sqft
    2018-02-01 39 days 1,834 sqft
    2018-03-01 40 days 1,868 sqft
    2018-04-01 41 days 1,885 sqft
    2018-05-01 37 days 1,870 sqft
    2018-06-01 38 days 1,873 sqft
    2018-07-01 39 days 1,860 sqft
    2018-08-01 40 days 1,840 sqft
    2018-09-01 43 days 1,833 sqft
    2018-10-01 46 days 1,828 sqft
    2018-11-01 50 days 1,828 sqft
    2018-12-01 60 days 1,828 sqft
    2019-01-01 60 days 1,811 sqft
    2019-02-01 45 days 1,808 sqft
    2019-03-01 42 days 1,845 sqft
    2019-04-01 39 days 1,870 sqft
    2019-05-01 40 days 1,886 sqft
    2019-06-01 45 days 1,900 sqft
    2019-07-01 46 days 1,906 sqft
    2019-08-01 46 days 1,889 sqft
    2019-09-01 46 days 1,873 sqft
    2019-10-01 47 days 1,862 sqft
    2019-11-01 50 days 1,856 sqft
    2019-12-01 56 days 1,856 sqft
    2020-01-01 62 days 1,832 sqft
    2020-02-01 43 days 1,797 sqft
    2020-03-01 40 days 1,858 sqft
    2020-04-01 42 days 1,854 sqft
    2020-05-01 50 days 1,876 sqft
    2020-06-01 42 days 1,875 sqft
    2020-07-01 37 days 1,874 sqft
    2020-08-01 29 days 1,859 sqft
    2020-09-01 25 days 1,838 sqft
    2020-10-01 26 days 1,828 sqft
    2020-11-01 34 days 1,821 sqft
    2020-12-01 36 days 1,767 sqft
    2021-01-01 39 days 1,769 sqft
    2021-02-01 22 days 1,741 sqft
    2021-03-01 17 days 1,769 sqft
    2021-04-01 15 days 1,823 sqft
    2021-05-01 13 days 1,808 sqft
    2021-06-01 16 days 1,858 sqft
    2021-07-01 21 days 1,853 sqft
    2021-08-01 23 days 1,843 sqft
    2021-09-01 27 days 1,831 sqft
    2021-10-01 26 days 1,791 sqft
    2021-11-01 30 days 1,831 sqft
    2021-12-01 35 days 1,834 sqft
    2022-01-01 33 days 1,782 sqft
    2022-02-01 29 days 1,698 sqft
    2022-03-01 29 days 1,718 sqft
    2022-04-01 26 days 1,770 sqft
    2022-05-01 23 days 1,794 sqft
    2022-06-01 26 days 1,804 sqft
    2022-07-01 31 days 1,792 sqft
    2022-08-01 37 days 1,769 sqft
    2022-09-01 43 days 1,773 sqft
    2022-10-01 46 days 1,748 sqft
    2022-11-01 46 days 1,737 sqft
    2022-12-01 56 days 1,767 sqft
    2023-01-01 59 days 1,783 sqft
    2023-02-01 47 days 1,763 sqft
    2023-03-01 45 days 1,774 sqft
    2023-04-01 43 days 1,800 sqft
    2023-05-01 37 days 1,823 sqft
    2023-06-01 36 days 1,838 sqft
    2023-07-01 36 days 1,836 sqft
    2023-08-01 38 days 1,847 sqft
    Fresno's median listing age (time on market) for 2023-08-01 was 38 days. This is 2% longer than the same period one year ago.

    Fresno's median square footage for active listings during the 2023-08-01 period was 1,847 sqft. One year prior, the average listing was 1,769 sqft.