Lynchburg USDA Loan Rates, Closing Costs & Stats

LYNCHBURG, VA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 33 lenders originated 106 USDA loans during 2023. The total origination value was $21,510,000, with an average USDA loan value of $202,925.

    Lynchburg USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Lynchburg averaged 6.23% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

    Lynchburg's average USDA mortgage closing costs are $5,236.

    The average rate for the prior week (2024-12-06) was 6.16% and one month ago for the week of 2024-11-08, the average rate was 6.48%.

    The average rate one year ago was 6.65%.

    For refis of the same type during the week of 2024-12-13, the average rate was 7.08%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 15 6.84% $7,693
    Alcova Mortgage LLC 10 7.07% $3,205
    EMBRACE HOME LOANS, INC. 8 6.45% $8,963
    NATION ONE MORTGAGE CORPORATION 8 6.61% $9,159
    MOVEMENT MORTGAGE, LLC 7 6.38% $6,979
    Renasant Bank 7 6.29% $5,368
    UNION HOME MORTGAGE CORP. 5 6.33% $9,627
    NEWREZ LLC 5 6.15% $7,297
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.38% $3,574
    Flagstar Bank, FSB 3 6.50% $8,276
    CARDINAL FINANCIAL 3 6.13% $5,396
    Atlantic Coast Mortgage, LLC 2 6.13% $7,690
    American National Bank and Trust Company 2 6.81% $4,423
    Blue Ridge Bank 2 6.44% $4,869
    THRIVE MORTGAGE, LLC 2 6.75% $8,524
    American Mortgage & Equity Consultants, Inc. 2 7.00% $5,173
    UNITED WHOLESALE MORTGAGE, LLC 2 5.88% $5,349
    Integrity Home Mortgage Corp 2 6.50% $8,660
    CALIBER HOME LOANS, INC. 2 6.75% $10,444
    NFM, INC. 1 5.13% $6,271
    Paramount Residential Mortgage Group, Inc. 1 6.75% $5,680
    Plains Commerce Bank 1 5.63% $12,099
    SWBC MORTGAGE CORPORATION 1 6.25% $6,831
    VILLAGE BANK MORTGAGE CORPORATION 1 6.25% $3,303
    DHI MORTGAGE COMPANY, LTD. 1 6.50% $5,906
    Virginia Credit Union, Inc. 1 6.25% $3,528
    Century Mortgage Company DBA Century Lending Company 1 6.63% $5,062
    EMM LOANS LLC 1 6.13% $10,187
    First Reliance Bank 1 7.13% $5,305
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.38% $3,732
    GUILD MORTGAGE COMPANY 1 7.13% $5,008
    Atlantic Union Bank 1 7.13% $5,510
    Assurance Financial Group, L.L.C. 1 5.63% $8,909

    The top Lynchburg USDA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 15 USDA loans originated. Their average total fees are $7,693, which is $4,488 higher than the next largest lender, Alcova Mortgage LLC.

    The lowest fee Lynchburg USDA lenders (with over 10 loans originated) are Alcova Mortgage LLC ($3,205), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($7,693), .

    The lowest rate Lynchburg USDA lenders (with over 10 loans originated) are ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.84%), Alcova Mortgage LLC (7.07%), .

    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
    2024-01-01 $339,950 (5.1%) $443,663 (11.0%) 0.83 513
    2024-02-01 $334,475 (1.4%) $430,428 (5.8%) 0.81 512
    2024-03-01 $337,380 (-0.6%) $439,389 (5.0%) 0.79 518
    2024-04-01 $344,900 (3.0%) $436,910 (3.8%) 0.80 537
    2024-05-01 $354,900 (7.7%) $449,539 (4.2%) 0.80 622
    2024-06-01 $349,900 (0.4%) $443,631 (-3.0%) 0.79 686
    2024-07-01 $349,900 (0.2%) $434,576 (-4.9%) 0.80 708
    2024-08-01 $349,900 (0.2%) $430,575 (-6.9%) 0.81 693
    2024-09-01 $349,900 (5.3%) $428,329 (-3.4%) 0.82 715
    2024-10-01 $346,200 (2.0%) $435,831 (-0.1%) 0.81 690
    2024-11-01 $334,950 (-3.5%) $426,768 (-3.7%) 0.80 706
    Lynchburg's median listing price for 2024-11-01 was $334,950, a difference of $-12,050 (-3.5%) versus the prior year and $-11,250 versus the prior month.

    Lynchburg's median listing price comes in at 80% of the national average.

    Lynchburg's average listing price for 2024-11-01 was $426,768, a difference of $-16,483 (-3.7%) versus the prior year and $-9,063 versus the prior month.

    For the 2024-11-01 period, Lynchburg had 706 MLS listings, a difference of 16 listings (2%) versus the prior month and 136 listings (24%) 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 2,049 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 1,817 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 1,857 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
    2024-01-01 59 days 1,832 sqft
    2024-02-01 50 days 1,775 sqft
    2024-03-01 51 days 1,784 sqft
    2024-04-01 47 days 1,788 sqft
    2024-05-01 37 days 1,853 sqft
    2024-06-01 40 days 1,833 sqft
    2024-07-01 50 days 1,840 sqft
    2024-08-01 52 days 1,820 sqft
    2024-09-01 52 days 1,800 sqft
    2024-10-01 54 days 1,788 sqft
    2024-11-01 55 days 1,725 sqft
    Lynchburg's median listing age (time on market) for 2024-11-01 was 55 days. This is 6% longer than the same period one year ago.

    Lynchburg's median square footage for active listings during the 2024-11-01 period was 1,725 sqft. One year prior, the average listing was 1,865 sqft.