Grand Junction USDA Loan Rates, Closing Costs & Stats

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 6.43% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

Grand Junction's average USDA mortgage closing costs are $5,907.

The average rate for the prior week (2023-01-20) was 6.02% and one month ago for the week of 2022-12-23, the average rate was 6.55%.

The average rate one year ago was 3.7%.

For refis of the same type during the week of 2023-01-27, the average rate was 5.88%.

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

Grand Junction 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 Grand Junction level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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 $277,422 (11.6%) $576,192 (74.9%) 1.03 691
2018-02-01 $275,000 (10.6%) $586,446 (77.3%) 1.00 685
2018-03-01 $282,000 (12.9%) $571,703 (71.0%) 0.99 744
2018-04-01 $284,725 (10.4%) $562,667 (59.5%) 0.97 803
2018-05-01 $287,850 (7.9%) $551,478 (55.0%) 0.96 843
2018-06-01 $295,250 (8.4%) $549,688 (7.6%) 0.98 901
2018-07-01 $291,510 (6.0%) $536,093 (4.6%) 0.97 957
2018-08-01 $284,950 (6.6%) $524,069 (-6.5%) 0.95 982
2018-09-01 $297,000 (10.0%) $536,380 (3.8%) 1.00 974
2018-10-01 $299,925 (10.4%) $540,495 (4.4%) 1.01 975
2018-11-01 $320,000 (16.4%) $601,885 (14.0%) 1.08 791
2018-12-01 $324,000 (16.6%) $424,938 (-21.8%) 1.12 729
2019-01-01 $317,000 (14.3%) $429,213 (-25.5%) 1.09 667
2019-02-01 $324,950 (18.2%) $432,340 (-26.3%) 1.10 667
2019-03-01 $336,857 (19.5%) $436,381 (-23.7%) 1.10 652
2019-04-01 $344,500 (21.0%) $441,386 (-21.6%) 1.09 671
2019-05-01 $352,550 (22.5%) $632,542 (14.7%) 1.10 726
2019-06-01 $347,750 (17.8%) $776,681 (41.3%) 1.09 818
2019-07-01 $349,950 (20.1%) $780,369 (45.6%) 1.10 832
2019-08-01 $351,836 (23.5%) $777,474 (48.4%) 1.11 828
2019-09-01 $354,741 (19.4%) $782,549 (45.9%) 1.14 816
2019-10-01 $357,125 (19.1%) $791,380 (46.4%) 1.15 805
2019-11-01 $358,950 (12.2%) $817,235 (35.8%) 1.18 752
2019-12-01 $356,825 (10.1%) $849,088 (99.8%) 1.19 683
2020-01-01 $364,225 (14.9%) $476,061 (10.9%) 1.22 605
2020-02-01 $376,000 (15.7%) $802,070 (85.5%) 1.23 564
2020-03-01 $389,950 (15.8%) $491,180 (12.6%) 1.22 571
2020-04-01 $388,875 (12.9%) $479,444 (8.6%) 1.22 605
2020-05-01 $399,064 (13.2%) $486,350 (-23.1%) 1.21 602
2020-06-01 $412,050 (18.5%) $514,280 (-33.8%) 1.21 547
2020-07-01 $424,900 (21.4%) $529,235 (-32.2%) 1.23 504
2020-08-01 $399,950 (13.7%) $528,723 (-32.0%) 1.15 455
2020-09-01 $390,000 (9.9%) $517,425 (-33.9%) 1.12 423
2020-10-01 $397,500 (11.3%) $529,242 (-33.1%) 1.14 416
2020-11-01 $408,475 (13.8%) $557,340 (-31.8%) 1.19 392
2020-12-01 $395,600 (10.9%) $565,608 (-33.4%) 1.18 363
2021-01-01 $415,000 (13.9%) $595,817 (25.2%) 1.24 269
2021-02-01 $456,225 (21.3%) $657,064 (-18.1%) 1.33 233
2021-03-01 $470,000 (20.5%) $643,026 (30.9%) 1.33 217
2021-04-01 $462,450 (18.9%) $661,922 (38.1%) 1.25 183
2021-05-01 $459,950 (15.3%) $653,858 (34.4%) 1.22 220
2021-06-01 $468,605 (13.7%) $637,307 (23.9%) 1.23 269
2021-07-01 $449,995 (5.9%) $612,383 (15.7%) 1.18 328
2021-08-01 $429,225 (7.3%) $580,325 (9.8%) 1.14 388
2021-09-01 $422,250 (8.3%) $559,338 (8.1%) 1.13 450
2021-10-01 $426,250 (7.2%) $549,900 (3.9%) 1.14 445
2021-11-01 $432,250 (5.8%) $561,987 (0.8%) 1.15 369
2021-12-01 $448,724 (13.4%) $575,461 (1.7%) 1.22 295
2022-01-01 $480,000 (15.7%) $613,631 (3.0%) 1.30 225
2022-02-01 $449,176 (-1.6%) $594,805 (-9.5%) 1.17 206
2022-03-01 $519,757 (10.6%) $639,712 (-0.5%) 1.30 234
2022-04-01 $497,000 (7.5%) $624,626 (-5.6%) 1.19 259
2022-05-01 $471,200 (2.5%) $596,785 (-8.7%) 1.08 354
2022-06-01 $476,200 (1.6%) $606,211 (-4.9%) 1.06 397
2022-07-01 $465,000 (3.3%) $595,545 (-2.8%) 1.05 488
2022-08-01 $480,000 (11.8%) $612,141 (5.5%) 1.11 545
2022-09-01 $479,320 (13.5%) $610,749 (9.2%) 1.12 564
2022-10-01 $469,900 (10.2%) $595,419 (8.3%) 1.11 599
2022-11-01 $466,250 (7.9%) $590,306 (5.0%) 1.12 585
2022-12-01 $475,000 (5.9%) $599,693 (4.2%) 1.19 530
Grand Junction's median listing price for 2022-12-01 was $475,000, a difference of $26,276 (5.9%) versus the prior year and $8,750 versus the prior month.

Grand Junction's median listing price comes in at 119% of the national average.

Grand Junction's average listing price for 2022-12-01 was $599,693, a difference of $24,232 (4.2%) versus the prior year and $9,387 versus the prior month.

For the 2022-12-01 period, Grand Junction had 530 MLS listings, a difference of -55 listings (-9%) versus the prior month and 235 listings (80%) 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 1,761 sqft
2018-02-01 69 days 1,792 sqft
2018-03-01 47 days 1,792 sqft
2018-04-01 43 days 1,793 sqft
2018-05-01 44 days 1,797 sqft
2018-06-01 40 days 1,820 sqft
2018-07-01 45 days 1,811 sqft
2018-08-01 48 days 1,792 sqft
2018-09-01 54 days 1,816 sqft
2018-10-01 60 days 1,817 sqft
2018-11-01 62 days 1,949 sqft
2018-12-01 71 days 1,944 sqft
2019-01-01 79 days 1,886 sqft
2019-02-01 73 days 1,945 sqft
2019-03-01 61 days 1,943 sqft
2019-04-01 47 days 1,939 sqft
2019-05-01 45 days 1,984 sqft
2019-06-01 45 days 1,984 sqft
2019-07-01 54 days 2,000 sqft
2019-08-01 56 days 1,979 sqft
2019-09-01 58 days 1,961 sqft
2019-10-01 62 days 1,946 sqft
2019-11-01 67 days 1,945 sqft
2019-12-01 76 days 1,946 sqft
2020-01-01 79 days 1,960 sqft
2020-02-01 74 days 1,972 sqft
2020-03-01 51 days 2,044 sqft
2020-04-01 52 days 2,015 sqft
2020-05-01 58 days 2,000 sqft
2020-06-01 59 days 2,033 sqft
2020-07-01 58 days 2,103 sqft
2020-08-01 52 days 2,011 sqft
2020-09-01 46 days 1,928 sqft
2020-10-01 43 days 1,936 sqft
2020-11-01 50 days 1,942 sqft
2020-12-01 56 days 1,903 sqft
2021-01-01 67 days 1,926 sqft
2021-02-01 47 days 1,974 sqft
2021-03-01 37 days 1,960 sqft
2021-04-01 32 days 1,903 sqft
2021-05-01 16 days 1,860 sqft
2021-06-01 21 days 1,857 sqft
2021-07-01 23 days 1,813 sqft
2021-08-01 30 days 1,828 sqft
2021-09-01 32 days 1,837 sqft
2021-10-01 36 days 1,847 sqft
2021-11-01 46 days 1,836 sqft
2021-12-01 56 days 1,882 sqft
2022-01-01 61 days 1,946 sqft
2022-02-01 32 days 1,854 sqft
2022-03-01 22 days 1,931 sqft
2022-04-01 24 days 1,881 sqft
2022-05-01 23 days 1,868 sqft
2022-06-01 30 days 1,889 sqft
2022-07-01 30 days 1,842 sqft
2022-08-01 38 days 1,885 sqft
2022-09-01 45 days 1,890 sqft
2022-10-01 51 days 1,866 sqft
2022-11-01 62 days 1,866 sqft
2022-12-01 72 days 1,875 sqft
Grand Junction's median listing age (time on market) for 2022-12-01 was 72 days. This is 29% longer than the same period one year ago.

Grand Junction's median square footage for active listings during the 2022-12-01 period was 1,875 sqft. One year prior, the average listing was 1,882 sqft.