Gallup USDA Loan Rates, Closing Costs & Stats

Gallup, NM

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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.

    Gallup's 1 lenders originated 2 USDA loans during 2023. The total origination value was $370,000, with an average USDA loan value of $185,000.

    Gallup USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Gallup averaged 6.53% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

    Gallup's average USDA mortgage closing costs are $5,481.

    The average rate for the prior week (2024-04-05) was 6.55% and one month ago for the week of 2024-03-08, the average rate was 6.41%.

    The average rate one year ago was 6.42%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.81%.

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

    Gallup 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 Gallup level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DAS Acquisition Company, LLC 2 7.56% $8,158

    The lowest fee Gallup USDA lenders (with over 10 loans originated) are .

    The lowest rate Gallup USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Gallup (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 $159,450 (10.7%) $175,165 (6.1%) 0.00 71
    2018-02-01 $149,000 (3.8%) $163,181 (-0.7%) 0.00 71
    2018-03-01 $144,900 (-1.7%) $164,970 (-2.4%) 0.00 73
    2018-04-01 $147,975 (-8.5%) $173,205 (-6.1%) 0.00 76
    2018-05-01 $149,000 (-9.0%) $181,066 (-4.0%) 0.00 89
    2018-06-01 $150,000 (-10.7%) $180,477 (-5.6%) 0.00 91
    2018-07-01 $145,000 (-12.1%) $176,474 (-4.7%) 0.00 92
    2018-08-01 $145,000 (-7.6%) $174,426 (-1.8%) 0.00 90
    2018-09-01 $152,000 (0.0%) $183,024 (5.7%) 0.00 96
    2018-10-01 $147,950 (-1.4%) $175,798 (5.1%) 0.00 93
    2018-11-01 $139,000 (-10.6%) $169,942 (-1.1%) 0.00 82
    2018-12-01 $138,000 (-12.6%) $160,141 (-7.8%) 0.00 78
    2019-01-01 $135,500 (-15.0%) $159,147 (-9.1%) 0.00 69
    2019-02-01 $136,300 (-8.5%) $169,859 (4.1%) 0.00 67
    2019-03-01 $136,600 (-5.7%) $169,193 (2.6%) 0.00 73
    2019-04-01 $136,950 (-7.5%) $168,211 (-2.9%) 0.00 76
    2019-05-01 $139,700 (-6.2%) $164,018 (-9.4%) 0.00 82
    2019-06-01 $139,900 (-6.7%) $172,690 (-4.3%) 0.00 83
    2019-07-01 $148,925 (2.7%) $182,615 (3.5%) 0.00 74
    2019-08-01 $145,691 (0.5%) $184,707 (5.9%) 0.00 73
    2019-09-01 $145,302 (-4.4%) $181,438 (-0.9%) 0.00 72
    2019-10-01 $146,043 (-1.3%) $179,986 (2.4%) 0.00 71
    2019-11-01 $165,000 (18.7%) $185,291 (9.0%) 0.00 67
    2019-12-01 $167,500 (21.4%) $196,423 (22.7%) 0.00 63
    2020-01-01 $171,500 (26.6%) $208,655 (31.1%) 0.00 60
    2020-02-01 $162,000 (18.9%) $201,696 (18.7%) 0.00 58
    2020-03-01 $171,500 (25.6%) $203,137 (20.1%) 0.00 56
    2020-04-01 $181,230 (32.3%) $199,207 (18.4%) 0.00 54
    2020-05-01 $175,250 (25.5%) $196,030 (19.5%) 0.00 56
    2020-06-01 $157,000 (12.2%) $201,265 (16.6%) 0.00 45
    2020-07-01 $168,711 (13.3%) $205,395 (12.5%) 0.00 46
    2020-08-01 $173,357 (19.0%) $195,602 (5.9%) 0.00 55
    2020-09-01 $161,500 (11.2%) $190,359 (4.9%) 0.00 53
    2020-10-01 $172,500 (18.1%) $200,763 (11.5%) 0.00 54
    2020-11-01 $173,875 (5.4%) $208,213 (12.4%) 0.00 61
    2020-12-01 $187,175 (11.8%) $219,815 (11.9%) 0.00 61
    2021-01-01 $176,000 (2.6%) $207,486 (-0.6%) 0.00 50
    2021-02-01 $189,213 (16.8%) $222,393 (10.3%) 0.00 43
    2021-03-01 $186,275 (8.6%) $226,424 (11.5%) 0.00 42
    2021-04-01 $195,363 (7.8%) $235,534 (18.2%) 0.00 39
    2021-05-01 $214,900 (22.6%) $236,948 (20.9%) 0.00 41
    2021-06-01 $196,500 (25.2%) $211,566 (5.1%) 0.00 39
    2021-07-01 $189,000 (12.0%) $211,507 (3.0%) 0.00 48
    2021-08-01 $191,250 (10.3%) $215,961 (10.4%) 0.00 56
    2021-09-01 $180,500 (11.8%) $214,174 (12.5%) 0.00 52
    2021-10-01 $176,000 (2.0%) $214,453 (6.8%) 0.00 53
    2021-11-01 $181,500 (4.4%) $210,305 (1.0%) 0.00 58
    2021-12-01 $192,500 (2.8%) $211,097 (-4.0%) 0.00 59
    2022-01-01 $209,900 (19.3%) $232,351 (12.0%) 0.00 56
    2022-02-01 $209,950 (11.0%) $228,879 (2.9%) 0.00 50
    2022-03-01 $213,750 (14.8%) $227,560 (0.5%) 0.00 51
    2022-04-01 $209,900 (7.4%) $228,737 (-2.9%) 0.00 15
    2022-05-01 $172,500 (-19.7%) $179,691 (-24.2%) 0.00 15
    2022-06-01 $192,403 (-2.1%) $216,585 (2.4%) 0.00 18
    2022-07-01 $230,000 (21.7%) $244,204 (15.5%) 0.00 24
    2022-08-01 $259,850 (35.9%) $245,890 (13.9%) 0.00 18
    2022-09-01 $193,700 (7.3%) $220,182 (2.8%) 0.00 15
    2022-10-01 $188,400 (7.1%) $232,450 (8.4%) 0.00 16
    2022-11-01 $186,900 (3.0%) $224,946 (7.0%) 0.00 17
    2022-12-01 $163,700 (-15.0%) $199,243 (-5.6%) 0.00 18
    2023-01-01 $177,050 (-15.7%) $198,550 (-14.6%) 0.00 17
    2023-02-01 $216,250 (3.0%) $210,284 (-8.1%) 0.00 16
    2023-03-01 $180,625 (-15.5%) $206,053 (-9.5%) 0.00 17
    2023-04-01 $230,000 (9.6%) $233,752 (2.2%) 0.00 18
    2023-05-01 $228,750 (32.6%) $232,676 (29.5%) 0.00 19
    2023-06-01 $240,000 (24.7%) $322,570 (48.9%) 0.00 18
    2023-07-01 $225,000 (-2.2%) $322,686 (32.1%) 0.00 20
    2023-08-01 $217,500 (-16.3%) $292,257 (18.9%) 0.00 33
    2023-09-01 $220,000 (13.6%) $555,598 (152.3%) 0.00 41
    2023-10-01 $276,750 (46.9%) $332,572 (43.1%) 0.00 34
    2023-11-01 $289,000 (54.6%) $329,716 (46.6%) 0.00 36
    2023-12-01 $220,000 (34.4%) $310,031 (55.6%) 0.00 34
    2024-01-01 $202,700 (14.5%) $317,103 (59.7%) 0.00 32
    2024-02-01 $204,055 (-5.6%) $311,274 (48.0%) 0.00 27
    2024-03-01 $207,900 (15.1%) $316,047 (53.4%) 0.00 25
    Gallup's median listing price for 2024-03-01 was $207,900, a difference of $27,275 (15.1%) versus the prior year and $3,845 versus the prior month.

    Gallup's median listing price comes in at 0% of the national average.

    Gallup's average listing price for 2024-03-01 was $316,047, a difference of $109,994 (53.4%) versus the prior year and $4,773 versus the prior month.

    For the 2024-03-01 period, Gallup had 25 MLS listings, a difference of -2 listings (-7%) versus the prior month and 8 listings (47%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Gallup (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,779 sqft
    2018-02-01 0 days 1,603 sqft
    2018-03-01 0 days 1,596 sqft
    2018-04-01 0 days 1,617 sqft
    2018-05-01 0 days 1,614 sqft
    2018-06-01 0 days 1,607 sqft
    2018-07-01 0 days 1,617 sqft
    2018-08-01 0 days 1,602 sqft
    2018-09-01 0 days 1,640 sqft
    2018-10-01 0 days 1,614 sqft
    2018-11-01 0 days 1,568 sqft
    2018-12-01 0 days 1,553 sqft
    2019-01-01 0 days 1,526 sqft
    2019-02-01 0 days 1,526 sqft
    2019-03-01 0 days 1,524 sqft
    2019-04-01 0 days 1,538 sqft
    2019-05-01 0 days 1,537 sqft
    2019-06-01 0 days 1,529 sqft
    2019-07-01 0 days 1,586 sqft
    2019-08-01 0 days 1,576 sqft
    2019-09-01 0 days 1,578 sqft
    2019-10-01 0 days 1,593 sqft
    2019-11-01 0 days 1,613 sqft
    2019-12-01 0 days 1,661 sqft
    2020-01-01 0 days 1,718 sqft
    2020-02-01 0 days 1,611 sqft
    2020-03-01 0 days 1,629 sqft
    2020-04-01 0 days 1,811 sqft
    2020-05-01 0 days 1,817 sqft
    2020-06-01 0 days 1,829 sqft
    2020-07-01 0 days 1,890 sqft
    2020-08-01 0 days 1,722 sqft
    2020-09-01 0 days 1,650 sqft
    2020-10-01 0 days 1,651 sqft
    2020-11-01 0 days 1,847 sqft
    2020-12-01 0 days 1,903 sqft
    2021-01-01 0 days 1,884 sqft
    2021-02-01 0 days 1,815 sqft
    2021-03-01 0 days 1,796 sqft
    2021-04-01 0 days 1,726 sqft
    2021-05-01 0 days 1,752 sqft
    2021-06-01 0 days 1,742 sqft
    2021-07-01 0 days 1,726 sqft
    2021-08-01 0 days 1,716 sqft
    2021-09-01 0 days 1,623 sqft
    2021-10-01 0 days 1,775 sqft
    2021-11-01 0 days 1,687 sqft
    2021-12-01 0 days 1,704 sqft
    2022-01-01 0 days 1,788 sqft
    2022-02-01 0 days 1,767 sqft
    2022-03-01 0 days 1,788 sqft
    2022-04-01 0 days 1,780 sqft
    2022-05-01 0 days 1,680 sqft
    2022-06-01 0 days 1,856 sqft
    2022-07-01 0 days 1,945 sqft
    2022-08-01 0 days 1,683 sqft
    2022-09-01 0 days 1,569 sqft
    2022-10-01 0 days 1,576 sqft
    2022-11-01 0 days 1,560 sqft
    2022-12-01 0 days 1,578 sqft
    2023-01-01 0 days 1,562 sqft
    2023-02-01 0 days 1,618 sqft
    2023-03-01 0 days 1,648 sqft
    2023-04-01 0 days 1,730 sqft
    2023-05-01 0 days 1,670 sqft
    2023-06-01 0 days 1,730 sqft
    2023-07-01 0 days 1,629 sqft
    2023-08-01 0 days 1,616 sqft
    2023-09-01 0 days 1,581 sqft
    2023-10-01 0 days 1,573 sqft
    2023-11-01 0 days 1,590 sqft
    2023-12-01 0 days 1,527 sqft
    2024-01-01 0 days 1,617 sqft
    2024-02-01 0 days 1,701 sqft
    2024-03-01 0 days 1,550 sqft
    Gallup's median listing age (time on market) for 2024-03-01 was 0 days.

    Gallup's median square footage for active listings during the 2024-03-01 period was 1,550 sqft. One year prior, the average listing was 1,648 sqft.