Harrisonburg USDA Loans

HARRISONBURG, VA

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    • 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.