Fresno USDA Loans

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 5.45% 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 5.24% and one month ago for the week of 2022-04-15, the average rate was 5.03%.

The average rate one year ago was 3.08%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.14%.

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
Fresno's median listing price for 2022-04-01 was $425,000, a difference of $50,000 (13.3%) versus the prior year and $12,550 versus the prior month.

Fresno's median listing price comes in at 100% of the national average.

Fresno's average listing price for 2022-04-01 was $567,229, a difference of $33,854 (6.4%) versus the prior year and $7,470 versus the prior month.

For the 2022-04-01 period, Fresno had 684 MLS listings, a difference of 99 listings (17%) versus the prior month and 148 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 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
Fresno's median listing age (time on market) for 2022-04-01 was 30 days. This is 82% longer than the same period one year ago.

Fresno's median square footage for active listings during the 2022-04-01 period was 1,779 sqft. One year prior, the average listing was 1,841 sqft.