Grand Junction USDA Loans
GRAND JUNCTION, CO
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.
Grand Junction's 13 lenders originated 40 USDA loans during 2021. The total origination value was $10,760,000, with an average USDA loan value of $269,000.
Grand Junction USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Grand Junction
averaged
5.15%
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 4.93%.
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 5.3%.
Grand Junction 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 Grand Junction level.
| Name | # of Loans | 2021 Avg. 30yFix Rate | 2021 Avg. Total Fees |
|---|---|---|---|
| BAY EQUITY LLC | 13 | 2.89% | $5,717 |
| PLAZA HOME MORTGAGE, INC. | 10 | 2.79% | $5,608 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 4 | 3.09% | $7,557 |
| AMCAP MORTGAGE, LTD. | 2 | 3.13% | $10,027 |
| GERSHMAN INVESTMENT CORP. | 2 | 2.75% | $4,959 |
| Carrington Mortgage Services, LLC | 1 | 2.25% | $6,716 |
| Financial Funding Solutions, Inc. | 1 | 2.88% | $5,433 |
| Flanagan State Bank | 1 | 3.00% | $6,643 |
| BROKER SOLUTIONS, INC. | 1 | 2.75% | $4,850 |
| HOME POINT FINANCIAL CORPORATION | 1 | 2.25% | $7,893 |
| Hometown Equity Mortgage, LLC | 1 | 2.88% | $4,606 |
| Loan Simple, Inc. | 1 | 2.25% | $4,029 |
| CORNERSTONE HOME LENDING, INC. | 1 | 3.25% | $7,221 |
The top Grand Junction USDA lender as defined by loan originations is BAY EQUITY LLC, with
13 USDA loans originated. Their average total fees are
$5,717, which is $109
higher than the next largest lender,
PLAZA HOME MORTGAGE, INC..
The lowest fee Grand Junction USDA lenders (with over 10 loans originated) are
PLAZA HOME MORTGAGE, INC. ($5,608), BAY EQUITY LLC ($5,717), .
The lowest rate Grand Junction USDA lenders (with over 10 loans originated) are
PLAZA HOME MORTGAGE, INC. (2.79%), BAY EQUITY LLC (2.89%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Grand Junction (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 | $284,900 (14.2%) | $558,162 (67.8%) | 1.05 | 766 |
| 2018-02-01 | $281,000 (11.8%) | $572,044 (69.4%) | 1.01 | 748 |
| 2018-03-01 | $287,500 (15.1%) | $558,919 (63.6%) | 0.99 | 808 |
| 2018-04-01 | $289,900 (13.7%) | $552,916 (54.6%) | 0.97 | 858 |
| 2018-05-01 | $293,500 (8.7%) | $545,627 (51.3%) | 0.98 | 903 |
| 2018-06-01 | $299,000 (8.8%) | $544,193 (8.2%) | 1.00 | 956 |
| 2018-07-01 | $297,500 (8.2%) | $528,884 (4.8%) | 0.99 | 1,009 |
| 2018-08-01 | $292,000 (6.2%) | $516,935 (-12.9%) | 0.98 | 1,041 |
| 2018-09-01 | $299,000 (8.7%) | $527,696 (4.0%) | 1.00 | 1,032 |
| 2018-10-01 | $308,000 (11.4%) | $535,086 (5.4%) | 1.03 | 1,031 |
| 2018-11-01 | $322,900 (16.6%) | $592,486 (14.0%) | 1.08 | 840 |
| 2018-12-01 | $324,900 (16.1%) | $431,551 (-18.6%) | 1.11 | 769 |
| 2019-01-01 | $323,450 (13.5%) | $432,915 (-22.4%) | 1.12 | 699 |
| 2019-02-01 | $329,900 (17.4%) | $434,668 (-24.0%) | 1.11 | 695 |
| 2019-03-01 | $342,614 (19.2%) | $440,879 (-21.1%) | 1.12 | 689 |
| 2019-04-01 | $349,450 (20.5%) | $447,929 (-19.0%) | 1.10 | 713 |
| 2019-05-01 | $356,750 (21.6%) | $623,751 (14.3%) | 1.10 | 773 |
| 2019-06-01 | $345,000 (15.4%) | $752,900 (38.4%) | 1.06 | 878 |
| 2019-07-01 | $349,950 (17.6%) | $751,041 (42.0%) | 1.09 | 904 |
| 2019-08-01 | $349,943 (19.8%) | $750,575 (45.2%) | 1.10 | 888 |
| 2019-09-01 | $352,450 (17.9%) | $758,607 (43.8%) | 1.12 | 870 |
| 2019-10-01 | $356,500 (15.8%) | $772,505 (44.4%) | 1.14 | 852 |
| 2019-11-01 | $355,000 (9.9%) | $790,686 (33.5%) | 1.15 | 809 |
| 2019-12-01 | $357,250 (10.0%) | $946,654 (119.4%) | 1.19 | 730 |
| 2020-01-01 | $368,450 (13.9%) | $762,269 (76.1%) | 1.23 | 654 |
| 2020-02-01 | $380,000 (15.2%) | $791,522 (82.1%) | 1.23 | 603 |
| 2020-03-01 | $399,000 (16.5%) | $508,133 (15.3%) | 1.25 | 618 |
| 2020-04-01 | $395,450 (13.2%) | $498,702 (11.3%) | 1.23 | 651 |
| 2020-05-01 | $399,900 (12.1%) | $508,206 (-18.5%) | 1.21 | 646 |
| 2020-06-01 | $422,450 (22.5%) | $533,184 (-29.2%) | 1.23 | 583 |
| 2020-07-01 | $437,450 (25.0%) | $552,378 (-26.5%) | 1.25 | 544 |
| 2020-08-01 | $425,000 (21.5%) | $555,805 (-26.0%) | 1.21 | 484 |
| 2020-09-01 | $409,750 (16.3%) | $546,804 (-27.9%) | 1.17 | 452 |
| 2020-10-01 | $400,000 (12.2%) | $554,481 (-28.2%) | 1.14 | 452 |
| 2020-11-01 | $441,450 (24.4%) | $613,106 (-22.5%) | 1.26 | 429 |
| 2020-12-01 | $407,460 (14.1%) | $612,270 (-35.3%) | 1.19 | 407 |
| 2021-01-01 | $440,000 (19.4%) | $657,451 (-13.8%) | 1.29 | 309 |
| 2021-02-01 | $512,000 (34.7%) | $722,545 (-8.7%) | 1.47 | 257 |
| 2021-03-01 | $495,000 (24.1%) | $695,367 (36.9%) | 1.39 | 239 |
| 2021-04-01 | $516,950 (30.7%) | $707,731 (41.9%) | 1.39 | 200 |
| 2021-05-01 | $485,000 (21.3%) | $682,095 (34.2%) | 1.28 | 243 |
| 2021-06-01 | $492,000 (16.5%) | $668,334 (25.4%) | 1.28 | 288 |
| 2021-07-01 | $484,000 (10.6%) | $642,197 (16.3%) | 1.26 | 356 |
| 2021-08-01 | $440,500 (3.7%) | $609,060 (9.6%) | 1.16 | 423 |
| 2021-09-01 | $432,564 (5.6%) | $581,945 (6.4%) | 1.14 | 483 |
| 2021-10-01 | $439,900 (10.0%) | $572,706 (3.3%) | 1.16 | 490 |
| 2021-11-01 | $437,500 (-0.9%) | $581,458 (-5.2%) | 1.15 | 404 |
| 2021-12-01 | $454,995 (11.7%) | $587,876 (-4.0%) | 1.21 | 307 |
| 2022-01-01 | $489,900 (11.3%) | $631,091 (-4.0%) | 1.31 | 239 |
| 2022-02-01 | $454,950 (-11.1%) | $597,609 (-17.3%) | 1.16 | 219 |
| 2022-03-01 | $524,564 (6.0%) | $641,232 (-7.8%) | 1.30 | 247 |
| 2022-04-01 | $499,900 (-3.3%) | $636,420 (-10.1%) | 1.18 | 274 |
Grand Junction's median listing price comes in at 118% of the national average.
Grand Junction's average listing price for 2022-04-01 was $636,420, a difference of $-71,311 (-10.1%) versus the prior year and $-4,812 versus the prior month.
For the 2022-04-01 period, Grand Junction had 274 MLS listings, a difference of 27 listings (11%) versus the prior month and 74 listings (37%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Grand Junction (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 79 days | 1,770 sqft |
| 2018-02-01 | 74 days | 1,803 sqft |
| 2018-03-01 | 53 days | 1,789 sqft |
| 2018-04-01 | 43 days | 1,796 sqft |
| 2018-05-01 | 45 days | 1,800 sqft |
| 2018-06-01 | 44 days | 1,816 sqft |
| 2018-07-01 | 46 days | 1,814 sqft |
| 2018-08-01 | 51 days | 1,802 sqft |
| 2018-09-01 | 57 days | 1,820 sqft |
| 2018-10-01 | 62 days | 1,839 sqft |
| 2018-11-01 | 61 days | 1,955 sqft |
| 2018-12-01 | 71 days | 1,953 sqft |
| 2019-01-01 | 79 days | 1,916 sqft |
| 2019-02-01 | 74 days | 1,960 sqft |
| 2019-03-01 | 53 days | 1,976 sqft |
| 2019-04-01 | 48 days | 1,956 sqft |
| 2019-05-01 | 44 days | 1,995 sqft |
| 2019-06-01 | 48 days | 1,984 sqft |
| 2019-07-01 | 53 days | 1,994 sqft |
| 2019-08-01 | 58 days | 1,975 sqft |
| 2019-09-01 | 63 days | 1,953 sqft |
| 2019-10-01 | 64 days | 1,947 sqft |
| 2019-11-01 | 67 days | 1,944 sqft |
| 2019-12-01 | 75 days | 1,947 sqft |
| 2020-01-01 | 77 days | 1,978 sqft |
| 2020-02-01 | 71 days | 2,014 sqft |
| 2020-03-01 | 52 days | 2,058 sqft |
| 2020-04-01 | 51 days | 2,039 sqft |
| 2020-05-01 | 60 days | 2,010 sqft |
| 2020-06-01 | 64 days | 2,085 sqft |
| 2020-07-01 | 63 days | 2,127 sqft |
| 2020-08-01 | 58 days | 2,052 sqft |
| 2020-09-01 | 54 days | 1,970 sqft |
| 2020-10-01 | 47 days | 1,952 sqft |
| 2020-11-01 | 50 days | 1,974 sqft |
| 2020-12-01 | 52 days | 1,930 sqft |
| 2021-01-01 | 71 days | 2,000 sqft |
| 2021-02-01 | 66 days | 2,019 sqft |
| 2021-03-01 | 42 days | 2,052 sqft |
| 2021-04-01 | 40 days | 2,061 sqft |
| 2021-05-01 | 22 days | 1,953 sqft |
| 2021-06-01 | 23 days | 1,923 sqft |
| 2021-07-01 | 25 days | 1,842 sqft |
| 2021-08-01 | 30 days | 1,867 sqft |
| 2021-09-01 | 33 days | 1,859 sqft |
| 2021-10-01 | 37 days | 1,856 sqft |
| 2021-11-01 | 47 days | 1,856 sqft |
| 2021-12-01 | 55 days | 1,890 sqft |
| 2022-01-01 | 70 days | 1,953 sqft |
| 2022-02-01 | 41 days | 1,878 sqft |
| 2022-03-01 | 23 days | 1,951 sqft |
| 2022-04-01 | 30 days | 1,901 sqft |
Grand Junction's median square footage for active listings during the 2022-04-01 period was 1,901 sqft. One year prior, the average listing was 2,061 sqft.
