Lynchburg USDA Loans

LYNCHBURG, 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.

Lynchburg's 59 lenders originated 508 USDA loans during 2021. The total origination value was $97,300,000, with an average USDA loan value of $191,535.

Lynchburg USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Lynchburg averaged 5.49% 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 5.38% and one month ago for the week of 2022-04-15, the average rate was 5.07%.

The average rate one year ago was 2.92%.

For refis of the same type during the week of 2022-05-20, the average rate was 4.91%.

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

Lynchburg 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 Lynchburg level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
MOVEMENT MORTGAGE, LLC 92 2.83% $5,520
EMBRACE HOME LOANS, INC. 85 2.78% $4,833
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 39 2.99% $5,624
APEX HOME LOANS, INC. 30 2.76% $5,293
NATION ONE MORTGAGE CORPORATION 30 3.11% $6,159
Alcova Mortgage LLC 21 2.86% $3,038
First Reliance Bank 19 2.74% $4,844
Renasant Bank 17 2.93% $5,257
CALIBER HOME LOANS, INC. 14 2.88% $4,380
Integrity Home Mortgage Corp 14 2.99% $5,785
Prosperity Home Mortgage, LLC 13 2.67% $5,509
ROUNDPOINT MORTGAGE SERVICING CORPORATION 11 3.18% $2,376
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 11 2.85% $6,283
GUARANTY HOME MORTGAGE CORPORATION 9 2.65% $4,825
FREEDOM MORTGAGE CORPORATION 8 2.84% $2,011
STEARNS LENDING, LLC 7 2.59% $4,850
HOME POINT FINANCIAL CORPORATION 6 2.48% $5,207
UNITED WHOLESALE MORTGAGE, LLC 5 2.76% $5,295
MCLEAN MORTGAGE CORPORATION 4 2.72% $4,923
TIDEWATER MORTGAGE SERVICES, INC. 4 3.00% $7,446
Blue Ridge Bank 4 2.53% $4,737
American National Bank and Trust Company 4 2.38% $3,979
AMERICAN PACIFIC MORTGAGE CORPORATION 3 3.04% $5,965
Atlantic Union Bank 3 2.71% $5,033
Truist Bank 3 2.54% $5,692
C & F Mortgage Corporation 3 2.75% $4,229
Assurance Financial Group, L.L.C. 3 2.92% $5,136
PENNYMAC LOAN SERVICES, LLC 3 2.87% $4,843
FREEDOM FIRST 3 2.33% $6,217
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 2.88% $7,571
BROKER SOLUTIONS, INC. 2 2.69% $8,432
Citizens Bank 2 2.50% $5,261
Colten Mortgage, LLC 2 3.19% $2,859
SWBC MORTGAGE CORPORATION 2 3.19% $3,320
The Federal Savings Bank 2 2.75% $5,797
Waterstone Mortgage Corporation 2 2.19% $6,592
GUARANTEED RATE, INC. 1 3.25% $6,717
MIDLAND MORTGAGE CORPORATION 1 3.13% $3,488
George Mason Mortgage, LLC 1 2.25% $7,264
F & M BANK CORP. 1 3.63% $6,078
NEWREZ LLC 1 2.88% $3,479
NFM, INC. 1 3.50% $5,067
OVM FINANCIAL, INC. 1 3.25% $4,883
Flagstar Bank, FSB 1 3.25% $4,186
First Heritage Mortgage, LLC 1 3.88% $6,180
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.75% $6,189
ENVOY MORTGAGE, LTD 1 3.00% $5,463
CHURCHILL MORTGAGE CORPORATION 1 2.75% $5,393
SOUTHPOINT FINANCIAL SERVICES, INC. 1 2.50% $5,878
South State Bank 1 2.38% $6,086
Carrington Mortgage Services, LLC 1 3.00% $5,570
AMERICAN FINANCIAL NETWORK, INC. 1 3.00% $8,341
Wells Fargo Bank 1 2.25% $2,602
Tidewater Home Funding, LLC 1 2.88% $2,276
A Mortgage Boutique, LLC 1 2.38% $4,084
AMERICAN FINANCIAL RESOURCES, INC. 1 3.63% $3,246
INTERCOASTAL MORTGAGE COMPANY 1 3.88% $4,215
LIBERTY HOME MORTGAGE CORPORATION 1 3.00% $6,569
LOANDEPOT.COM, LLC 1 3.50% $5,829

The top Lynchburg USDA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 92 USDA loans originated. Their average total fees are $5,520, which is $687 higher than the next largest lender, EMBRACE HOME LOANS, INC..

The lowest fee Lynchburg USDA lenders (with over 10 loans originated) are ROUNDPOINT MORTGAGE SERVICING CORPORATION ($2,376), Alcova Mortgage LLC ($3,038), CALIBER HOME LOANS, INC. ($4,380), EMBRACE HOME LOANS, INC. ($4,833) and First Reliance Bank ($4,844).

The lowest rate Lynchburg USDA lenders (with over 10 loans originated) are Prosperity Home Mortgage, LLC (2.67%), First Reliance Bank (2.74%), APEX HOME LOANS, INC. (2.76%), EMBRACE HOME LOANS, INC. (2.78%) and MOVEMENT MORTGAGE, LLC (2.83%).