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%.
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 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 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.