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%.

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 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 for 2022-04-01 was $499,900, a difference of $-17,050 (-3.3%) versus the prior year and $-24,664 versus the prior month.

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 listing age (time on market) for 2022-04-01 was 30 days. This is -24% shorter than the same period one year ago.

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.