Harrisonburg USDA Loans

HARRISONBURG, VA

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.

Harrisonburg's 29 lenders originated 115 USDA loans during 2021. The total origination value was $24,645,000, with an average USDA loan value of $214,304.

Harrisonburg USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Harrisonburg averaged 5.43% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.36% and one month ago for the week of 2022-04-08, the average rate was 4.93%.

The average rate one year ago was 3.14%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.22%.

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

Harrisonburg 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 Harrisonburg level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
C & F Mortgage Corporation 15 2.86% $5,430
DUPONT COMMUNITY 14 3.20% $5,067
F & M BANK CORP. 12 2.85% $5,535
MOVEMENT MORTGAGE, LLC 11 3.00% $5,227
Integrity Home Mortgage Corp 9 2.97% $5,629
NVR Mortgage Finance, Inc. 7 3.02% $7,927
George Mason Mortgage, LLC 6 3.15% $5,024
PRIMARY RESIDENTIAL MORTGAGE, INC. 6 3.17% $6,048
CBM Mortgage, Inc. 4 2.44% $5,573
Alcova Mortgage LLC 4 3.06% $3,337
First Reliance Bank 3 2.63% $6,074
Century Mortgage Company DBA Century Lending Company 2 2.44% $6,598
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 2.88% $6,938
Citizens Bank 2 2.75% $6,245
HOMESPIRE MORTGAGE CORPORATION 2 3.38% $6,463
NATIONS RELIABLE LENDING, LLC 2 3.19% $6,686
HOME POINT FINANCIAL CORPORATION 1 2.75% $5,028
BROKER SOLUTIONS, INC. 1 2.25% $4,913
LEADERONE FINANCIAL CORPORATION 1 2.75% $6,123
Atlantic Union Bank 1 3.00% $6,456
NFM, INC. 1 3.63% $6,379
PENNYMAC LOAN SERVICES, LLC 1 2.63% $7,351
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.13% $5,402
CROSSCOUNTRY MORTGAGE, LLC 1 2.99% $5,998
STEARNS LENDING, LLC 1 2.50% $4,184
FINANCE OF AMERICA MORTGAGE LLC 1 3.25% $4,886
FIRST COMMUNITY MORTGAGE, INC. 1 2.38% $6,937
Carrington Mortgage Services, LLC 1 4.25% $2,698
GUARANTEED RATE, INC. 1 3.00% $6,396

The top Harrisonburg USDA lender as defined by loan originations is C & F Mortgage Corporation, with 15 USDA loans originated. Their average total fees are $5,430, which is $363 higher than the next largest lender, DUPONT COMMUNITY.

The lowest fee Harrisonburg USDA lenders (with over 10 loans originated) are DUPONT COMMUNITY ($5,067), MOVEMENT MORTGAGE, LLC ($5,227), C & F Mortgage Corporation ($5,430), F & M BANK CORP. ($5,535) and .

The lowest rate Harrisonburg USDA lenders (with over 10 loans originated) are F & M BANK CORP. (2.85%), C & F Mortgage Corporation (2.86%), MOVEMENT MORTGAGE, LLC (3.00%), DUPONT COMMUNITY (3.20%) and .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Harrisonburg (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 $249,400 (8.7%) $363,190 (21.1%) 0.00 351
2018-02-01 $255,329 (9.8%) $379,064 (18.6%) 0.00 345
2018-03-01 $268,111 (11.7%) $375,124 (10.4%) 0.00 366
2018-04-01 $269,900 (2.7%) $372,418 (5.9%) 0.00 394
2018-05-01 $269,000 (-2.2%) $369,306 (4.6%) 0.00 420
2018-06-01 $269,000 (-2.2%) $373,724 (3.8%) 0.00 431
2018-07-01 $264,250 (-3.9%) $355,244 (-1.0%) 0.00 421
2018-08-01 $264,950 (5.6%) $353,752 (3.2%) 0.00 426
2018-09-01 $264,900 (6.0%) $346,713 (0.9%) 0.00 403
2018-10-01 $259,900 (5.0%) $348,954 (2.4%) 0.00 395
2018-11-01 $266,200 (7.6%) $365,099 (6.1%) 0.00 382
2018-12-01 $267,500 (9.2%) $376,103 (5.5%) 0.00 356
2019-01-01 $265,000 (6.3%) $375,012 (3.3%) 0.00 335
2019-02-01 $259,250 (1.5%) $368,148 (-2.9%) 0.00 330
2019-03-01 $275,357 (2.7%) $381,520 (1.7%) 0.00 324
2019-04-01 $291,200 (7.9%) $387,638 (4.1%) 0.00 319
2019-05-01 $299,375 (11.3%) $398,004 (7.8%) 0.00 329
2019-06-01 $309,000 (14.9%) $411,530 (10.1%) 0.00 342
2019-07-01 $312,000 (18.1%) $420,890 (18.5%) 0.00 342
2019-08-01 $319,000 (20.4%) $426,772 (20.6%) 0.00 336
2019-09-01 $319,000 (20.4%) $431,333 (24.4%) 0.00 334
2019-10-01 $294,900 (13.5%) $407,918 (16.9%) 0.00 335
2019-11-01 $289,900 (8.9%) $385,422 (5.6%) 0.00 307
2019-12-01 $289,900 (8.4%) $392,822 (4.5%) 0.00 255
2020-01-01 $292,450 (10.4%) $397,170 (5.9%) 0.00 224
2020-02-01 $298,000 (15.0%) $405,687 (10.2%) 0.00 225
2020-03-01 $317,000 (15.1%) $417,368 (9.4%) 0.00 227
2020-04-01 $299,450 (2.8%) $399,875 (3.2%) 0.00 470
2020-05-01 $314,900 (5.2%) $390,400 (-1.9%) 0.00 475
2020-06-01 $318,000 (2.9%) $403,424 (-2.0%) 0.00 468
2020-07-01 $322,970 (3.5%) $425,141 (1.0%) 0.00 444
2020-08-01 $319,900 (0.3%) $431,748 (1.2%) 0.00 406
2020-09-01 $337,250 (5.7%) $450,232 (4.4%) 0.00 322
2020-10-01 $309,900 (5.1%) $456,756 (12.0%) 0.00 339
2020-11-01 $310,123 (7.0%) $456,862 (18.5%) 0.00 341
2020-12-01 $299,950 (3.5%) $445,151 (13.3%) 0.00 289
2021-01-01 $309,950 (6.0%) $448,922 (13.0%) 0.00 247
2021-02-01 $307,750 (3.3%) $470,022 (15.9%) 0.00 230
2021-03-01 $293,650 (-7.4%) $465,530 (11.5%) 0.00 240
2021-04-01 $309,000 (3.2%) $477,369 (19.4%) 0.00 243
2021-05-01 $299,950 (-4.8%) $480,446 (23.1%) 0.00 229
2021-06-01 $316,450 (-0.5%) $501,477 (24.3%) 0.00 219
2021-07-01 $316,450 (-2.0%) $488,554 (14.9%) 0.00 275
2021-08-01 $312,650 (-2.3%) $466,835 (8.1%) 0.00 279
2021-09-01 $310,400 (-8.0%) $453,070 (0.6%) 0.00 305
2021-10-01 $317,900 (2.6%) $458,846 (0.5%) 0.00 275
2021-11-01 $341,950 (10.3%) $474,906 (4.0%) 0.00 225
2021-12-01 $346,500 (15.5%) $475,457 (6.8%) 0.00 197
2022-01-01 $348,000 (12.3%) $457,655 (2.0%) 0.00 208
2022-02-01 $356,250 (15.8%) $474,240 (0.9%) 0.00 212
2022-03-01 $349,950 (19.2%) $446,301 (-4.1%) 0.00 237
2022-04-01 $349,990 (13.3%) $444,318 (-6.9%) 0.00 264
Harrisonburg's median listing price for 2022-04-01 was $349,990, a difference of $40,990 (13.3%) versus the prior year and $40 versus the prior month.

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

Harrisonburg's average listing price for 2022-04-01 was $444,318, a difference of $-33,051 (-6.9%) versus the prior year and $-1,983 versus the prior month.

For the 2022-04-01 period, Harrisonburg had 264 MLS listings, a difference of 27 listings (11%) versus the prior month and 21 listings (9%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Harrisonburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,965 sqft
2018-02-01 0 days 1,995 sqft
2018-03-01 0 days 2,031 sqft
2018-04-01 0 days 2,038 sqft
2018-05-01 0 days 2,013 sqft
2018-06-01 0 days 2,080 sqft
2018-07-01 0 days 2,021 sqft
2018-08-01 0 days 2,031 sqft
2018-09-01 0 days 2,057 sqft
2018-10-01 0 days 2,016 sqft
2018-11-01 0 days 2,076 sqft
2018-12-01 0 days 2,060 sqft
2019-01-01 0 days 2,065 sqft
2019-02-01 0 days 2,015 sqft
2019-03-01 0 days 2,067 sqft
2019-04-01 0 days 2,157 sqft
2019-05-01 0 days 2,250 sqft
2019-06-01 0 days 2,263 sqft
2019-07-01 0 days 2,244 sqft
2019-08-01 0 days 2,244 sqft
2019-09-01 0 days 2,242 sqft
2019-10-01 0 days 2,150 sqft
2019-11-01 0 days 2,128 sqft
2019-12-01 0 days 2,136 sqft
2020-01-01 0 days 2,112 sqft
2020-02-01 0 days 2,168 sqft
2020-03-01 0 days 2,326 sqft
2020-04-01 0 days 2,125 sqft
2020-05-01 0 days 2,120 sqft
2020-06-01 0 days 2,125 sqft
2020-07-01 0 days 2,129 sqft
2020-08-01 0 days 2,138 sqft
2020-09-01 0 days 2,163 sqft
2020-10-01 0 days 2,032 sqft
2020-11-01 0 days 1,938 sqft
2020-12-01 0 days 1,788 sqft
2021-01-01 0 days 1,800 sqft
2021-02-01 0 days 1,798 sqft
2021-03-01 0 days 1,791 sqft
2021-04-01 0 days 1,813 sqft
2021-05-01 0 days 1,841 sqft
2021-06-01 0 days 1,872 sqft
2021-07-01 0 days 1,883 sqft
2021-08-01 0 days 1,852 sqft
2021-09-01 0 days 1,833 sqft
2021-10-01 0 days 1,794 sqft
2021-11-01 0 days 1,841 sqft
2021-12-01 0 days 1,836 sqft
2022-01-01 0 days 1,841 sqft
2022-02-01 0 days 1,885 sqft
2022-03-01 0 days 1,883 sqft
2022-04-01 0 days 1,903 sqft
Harrisonburg's median listing age (time on market) for 2022-04-01 was 0 days.

Harrisonburg's median square footage for active listings during the 2022-04-01 period was 1,903 sqft. One year prior, the average listing was 1,813 sqft.