Lynchburg USDA Loan Rates, Closing Costs & Stats

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 43 lenders originated 211 USDA loans during 2022. The total origination value was $41,645,000, with an average USDA loan value of $197,370.

Lynchburg USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Lynchburg averaged -0.54% for the week of 2024-02-23, compared to the national average (all USDA variants) of 0% for the same period.

Lynchburg's average USDA mortgage closing costs are $5,142.

The average rate for the prior week (2024-02-16) was 6.44% and one month ago for the week of 2024-01-19, the average rate was 6.22%.

The average rate one year ago was 6.13%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.17%.

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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Lynchburg level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
EMBRACE HOME LOANS, INC. 31 4.68% $5,991
MOVEMENT MORTGAGE, LLC 21 4.24% $7,595
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 19 4.62% $6,767
NATION ONE MORTGAGE CORPORATION 16 4.64% $7,382
Alcova Mortgage LLC 12 4.99% $2,761
UNITED WHOLESALE MORTGAGE, LLC 10 3.82% $6,613
Integrity Home Mortgage Corp 10 4.13% $7,398
Renasant Bank 9 4.29% $5,844
CARDINAL FINANCIAL 8 3.53% $7,065
CALIBER HOME LOANS, INC. 7 4.48% $6,262
EMM LOANS LLC 4 3.81% $5,519
AMERICAN PACIFIC MORTGAGE CORPORATION 4 4.59% $6,561
APEX HOME LOANS, INC. 4 4.06% $5,756
HOME POINT FINANCIAL CORPORATION 4 4.91% $6,836
ROUNDPOINT MORTGAGE SERVICING CORPORATION 4 5.03% $5,281
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 2.96% $6,927
American National Bank and Trust Company 3 3.83% $5,482
GUARANTY HOME MORTGAGE CORPORATION 3 3.21% $5,408
NATIONS DIRECT MORTGAGE, LLC 2 4.00% $5,011
NEWREZ LLC 2 6.75% $10,937
THRIVE MORTGAGE, LLC 2 5.63% $10,478
TIDEWATER MORTGAGE SERVICES, INC. 2 4.31% $9,639
Truist 2 3.50% $5,392
UNION HOME MORTGAGE CORP. 2 5.06% $5,029
Blue Ridge Bank 2 4.25% $6,163
Citizens Bank 2 5.13% $5,416
VANDERBILT MORTGAGE AND FINANCE, INC. 2 5.56% $10,558
First Reliance Bank 2 4.06% $5,045
The Freedom Bank of Virginia 1 4.88% $4,122
C & F Mortgage Corporation 1 6.25% $10,612
NFM, INC. 1 5.63% $6,847
BROKER SOLUTIONS, INC. 1 5.75% $7,212
GUILD MORTGAGE COMPANY 1 4.63% $5,521
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 4.75% $11,092
Ixonia Bank 1 3.75% $12,433
Bank of England 1 3.88% $6,338
Atlantic Union Bank 1 5.00% $8,164
CBM Mortgage, Inc. 1 5.63% $4,374
Paramount Residential Mortgage Group, Inc. 1 4.63% $6,341
Prosperity Home Mortgage, LLC 1 5.63% $5,340
Assurance Financial Group, L.L.C. 1 3.50% $15,255
SWBC MORTGAGE CORPORATION 1 4.25% $3,647
The Federal Savings Bank 1 5.25% $5,565

The top Lynchburg USDA lender as defined by loan originations is EMBRACE HOME LOANS, INC., with 31 USDA loans originated. Their average total fees are $5,991, which is $1,604 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Lynchburg USDA lenders (with over 10 loans originated) are Alcova Mortgage LLC ($2,761), EMBRACE HOME LOANS, INC. ($5,991), UNITED WHOLESALE MORTGAGE, LLC ($6,613), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($6,767) and NATION ONE MORTGAGE CORPORATION ($7,382).

The lowest rate Lynchburg USDA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (3.82%), Integrity Home Mortgage Corp (4.13%), MOVEMENT MORTGAGE, LLC (4.24%), ATLANTIC BAY MORTGAGE GROUP, L.L.C. (4.62%) and NATION ONE MORTGAGE CORPORATION (4.64%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Lynchburg (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 $219,900 (15.8%) $285,047 (10.3%) 0.82 996
2018-02-01 $221,950 (14.0%) $283,114 (7.2%) 0.81 990
2018-03-01 $229,900 (15.0%) $289,916 (6.3%) 0.81 1,065
2018-04-01 $232,700 (16.4%) $293,423 (8.3%) 0.79 1,119
2018-05-01 $138,800 (-33.9%) $214,187 (-22.6%) 0.46 2,080
2018-06-01 $139,900 (-33.2%) $216,018 (-21.4%) 0.47 2,164
2018-07-01 $139,450 (-32.0%) $214,095 (-22.6%) 0.47 2,199
2018-08-01 $136,250 (-35.1%) $211,025 (-24.6%) 0.46 2,190
2018-09-01 $134,925 (-40.0%) $208,440 (-27.9%) 0.45 2,241
2018-10-01 $132,125 (-39.9%) $205,276 (-28.7%) 0.45 2,219
2018-11-01 $127,500 (-42.0%) $200,669 (-29.4%) 0.43 2,182
2018-12-01 $119,950 (-45.5%) $194,361 (-31.1%) 0.41 2,078
2019-01-01 $119,900 (-45.5%) $192,948 (-32.3%) 0.41 1,898
2019-02-01 $115,225 (-48.1%) $191,941 (-32.2%) 0.39 1,859
2019-03-01 $168,386 (-26.8%) $236,713 (-18.4%) 0.55 1,470
2019-04-01 $239,913 (3.1%) $296,802 (1.2%) 0.76 980
2019-05-01 $241,475 (74.0%) $302,782 (41.4%) 0.75 991
2019-06-01 $239,900 (71.5%) $306,485 (41.9%) 0.75 989
2019-07-01 $241,200 (73.0%) $310,959 (45.2%) 0.76 996
2019-08-01 $241,973 (77.6%) $319,339 (51.3%) 0.77 1,006
2019-09-01 $246,432 (82.6%) $333,173 (59.8%) 0.79 1,017
2019-10-01 $244,405 (85.0%) $337,067 (64.2%) 0.79 1,025
2019-11-01 $235,000 (84.3%) $333,901 (66.4%) 0.77 989
2019-12-01 $230,750 (92.4%) $302,138 (55.5%) 0.77 903
2020-01-01 $238,800 (99.2%) $304,595 (57.9%) 0.80 818
2020-02-01 $249,500 (116.5%) $312,072 (62.6%) 0.82 770
2020-03-01 $252,450 (49.9%) $321,029 (35.6%) 0.79 763
2020-04-01 $253,400 (5.6%) $325,967 (9.8%) 0.79 781
2020-05-01 $255,000 (5.6%) $336,538 (11.2%) 0.78 683
2020-06-01 $266,150 (10.9%) $350,179 (14.3%) 0.78 620
2020-07-01 $261,950 (8.6%) $404,081 (30.0%) 0.76 578
2020-08-01 $259,900 (7.4%) $407,743 (27.7%) 0.74 553
2020-09-01 $259,000 (5.1%) $400,737 (20.3%) 0.74 550
2020-10-01 $249,000 (1.9%) $406,716 (20.7%) 0.71 556
2020-11-01 $249,900 (6.3%) $409,487 (22.6%) 0.73 544
2020-12-01 $244,913 (6.1%) $421,895 (39.6%) 0.73 495
2021-01-01 $249,900 (4.7%) $438,160 (43.9%) 0.75 413
2021-02-01 $256,150 (2.7%) $474,912 (52.2%) 0.75 338
2021-03-01 $257,400 (2.0%) $473,087 (47.4%) 0.73 352
2021-04-01 $277,325 (9.4%) $507,128 (55.6%) 0.75 332
2021-05-01 $274,975 (7.8%) $464,859 (38.1%) 0.73 343
2021-06-01 $288,650 (8.5%) $469,332 (34.0%) 0.76 367
2021-07-01 $279,900 (6.9%) $448,163 (10.9%) 0.74 434
2021-08-01 $277,675 (6.8%) $439,546 (7.8%) 0.74 448
2021-09-01 $290,550 (12.2%) $450,514 (12.4%) 0.77 457
2021-10-01 $289,900 (16.4%) $447,457 (10.0%) 0.77 445
2021-11-01 $295,350 (18.2%) $454,990 (11.1%) 0.79 392
2021-12-01 $289,900 (18.4%) $402,412 (-4.6%) 0.79 338
2022-01-01 $284,900 (14.0%) $355,839 (-18.8%) 0.77 279
2022-02-01 $297,000 (16.0%) $363,157 (-23.5%) 0.77 266
2022-03-01 $322,450 (25.3%) $387,313 (-18.1%) 0.81 264
2022-04-01 $324,988 (17.2%) $387,493 (-23.6%) 0.77 266
2022-05-01 $329,675 (19.9%) $395,404 (-14.9%) 0.75 330
2022-06-01 $334,575 (15.9%) $396,615 (-15.5%) 0.75 395
2022-07-01 $330,000 (17.9%) $411,383 (-8.2%) 0.74 460
2022-08-01 $334,450 (20.5%) $412,731 (-6.1%) 0.77 457
2022-09-01 $317,450 (9.3%) $401,510 (-10.9%) 0.74 435
2022-10-01 $329,900 (13.8%) $409,964 (-8.4%) 0.78 428
2022-11-01 $336,975 (14.1%) $418,160 (-8.1%) 0.81 437
2022-12-01 $329,000 (13.5%) $401,317 (-0.3%) 0.81 396
2023-01-01 $323,500 (13.6%) $399,877 (12.4%) 0.80 369
2023-02-01 $329,913 (11.1%) $406,774 (12.0%) 0.80 334
2023-03-01 $339,450 (5.3%) $418,526 (8.1%) 0.80 348
2023-04-01 $334,900 (3.1%) $420,821 (8.6%) 0.78 379
2023-05-01 $329,500 (-0.1%) $431,384 (9.1%) 0.75 401
2023-06-01 $348,650 (4.2%) $457,478 (15.4%) 0.78 419
2023-07-01 $349,250 (5.8%) $456,974 (11.1%) 0.79 449
2023-08-01 $349,350 (4.5%) $462,692 (12.1%) 0.80 514
2023-09-01 $332,450 (4.7%) $443,546 (10.5%) 0.77 506
2023-10-01 $339,450 (2.9%) $436,305 (6.4%) 0.80 552
2023-11-01 $347,000 (3.0%) $443,251 (6.0%) 0.83 570
2023-12-01 $339,900 (3.3%) $441,167 (9.9%) 0.83 538
Lynchburg's median listing price for 2023-12-01 was $339,900, a difference of $10,900 (3.3%) versus the prior year and $-7,100 versus the prior month.

Lynchburg's median listing price comes in at 83% of the national average.

Lynchburg's average listing price for 2023-12-01 was $441,167, a difference of $39,850 (9.9%) versus the prior year and $-2,084 versus the prior month.

For the 2023-12-01 period, Lynchburg had 538 MLS listings, a difference of -32 listings (-6%) versus the prior month and 142 listings (36%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Lynchburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 93 days 1,973 sqft
2018-02-01 86 days 1,976 sqft
2018-03-01 64 days 1,990 sqft
2018-04-01 56 days 2,023 sqft
2018-05-01 78 days 2,050 sqft
2018-06-01 82 days 2,084 sqft
2018-07-01 86 days 2,051 sqft
2018-08-01 86 days 2,016 sqft
2018-09-01 88 days 2,005 sqft
2018-10-01 89 days 1,988 sqft
2018-11-01 94 days 1,947 sqft
2018-12-01 110 days 1,920 sqft
2019-01-01 115 days 1,953 sqft
2019-02-01 116 days 1,952 sqft
2019-03-01 90 days 1,992 sqft
2019-04-01 55 days 2,015 sqft
2019-05-01 55 days 2,001 sqft
2019-06-01 57 days 2,070 sqft
2019-07-01 62 days 2,109 sqft
2019-08-01 64 days 2,081 sqft
2019-09-01 66 days 2,052 sqft
2019-10-01 67 days 2,021 sqft
2019-11-01 74 days 1,984 sqft
2019-12-01 82 days 1,955 sqft
2020-01-01 88 days 1,959 sqft
2020-02-01 75 days 1,968 sqft
2020-03-01 57 days 1,984 sqft
2020-04-01 59 days 1,992 sqft
2020-05-01 66 days 2,001 sqft
2020-06-01 64 days 2,097 sqft
2020-07-01 58 days 2,095 sqft
2020-08-01 52 days 2,095 sqft
2020-09-01 53 days 2,042 sqft
2020-10-01 51 days 1,891 sqft
2020-11-01 60 days 1,909 sqft
2020-12-01 65 days 1,867 sqft
2021-01-01 72 days 1,850 sqft
2021-02-01 69 days 1,850 sqft
2021-03-01 47 days 1,841 sqft
2021-04-01 43 days 1,885 sqft
2021-05-01 43 days 1,872 sqft
2021-06-01 41 days 1,887 sqft
2021-07-01 38 days 1,880 sqft
2021-08-01 42 days 1,932 sqft
2021-09-01 42 days 1,896 sqft
2021-10-01 46 days 1,875 sqft
2021-11-01 51 days 1,873 sqft
2021-12-01 58 days 1,793 sqft
2022-01-01 61 days 1,730 sqft
2022-02-01 46 days 1,746 sqft
2022-03-01 36 days 1,870 sqft
2022-04-01 37 days 1,884 sqft
2022-05-01 33 days 1,913 sqft
2022-06-01 33 days 1,967 sqft
2022-07-01 39 days 1,962 sqft
2022-08-01 49 days 1,941 sqft
2022-09-01 51 days 1,852 sqft
2022-10-01 51 days 1,820 sqft
2022-11-01 51 days 1,871 sqft
2022-12-01 61 days 1,800 sqft
2023-01-01 61 days 1,792 sqft
2023-02-01 44 days 1,733 sqft
2023-03-01 44 days 1,817 sqft
2023-04-01 38 days 1,800 sqft
2023-05-01 40 days 1,763 sqft
2023-06-01 47 days 1,898 sqft
2023-07-01 42 days 1,870 sqft
2023-08-01 41 days 1,877 sqft
2023-09-01 50 days 1,895 sqft
2023-10-01 46 days 1,878 sqft
2023-11-01 52 days 1,865 sqft
2023-12-01 60 days 1,871 sqft
Lynchburg's median listing age (time on market) for 2023-12-01 was 60 days. This is -2% shorter than the same period one year ago.

Lynchburg's median square footage for active listings during the 2023-12-01 period was 1,871 sqft. One year prior, the average listing was 1,800 sqft.