Lynchburg USDA Loan Rates, Closing Costs & Stats

LYNCHBURG, 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.

    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 6.29% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

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

    The average rate for the prior week (2023-05-19) was 6.33% and one month ago for the week of 2023-04-21, the average rate was 6.24%.

    The average rate one year ago was 5.06%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.66%.

    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 (13.9%) $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 $135,450 (-35.5%) $212,946 (-23.1%) 0.45 2,094
    2018-06-01 $137,900 (-34.2%) $214,915 (-21.8%) 0.46 2,179
    2018-07-01 $137,225 (-33.0%) $212,978 (-23.0%) 0.46 2,215
    2018-08-01 $134,900 (-35.8%) $210,350 (-24.8%) 0.45 2,207
    2018-09-01 $134,883 (-40.0%) $207,917 (-28.0%) 0.45 2,259
    2018-10-01 $129,950 (-40.9%) $204,453 (-29.0%) 0.44 2,240
    2018-11-01 $125,000 (-43.2%) $199,731 (-29.7%) 0.42 2,206
    2018-12-01 $119,900 (-45.5%) $193,661 (-31.3%) 0.41 2,097
    2019-01-01 $119,124 (-45.8%) $192,284 (-32.5%) 0.41 1,915
    2019-02-01 $112,450 (-49.3%) $191,025 (-32.5%) 0.38 1,878
    2019-03-01 $232,000 (0.9%) $293,547 (1.3%) 0.77 931
    2019-04-01 $239,900 (3.1%) $296,903 (1.2%) 0.76 977
    2019-05-01 $241,475 (78.3%) $302,943 (42.3%) 0.75 993
    2019-06-01 $239,900 (74.0%) $306,638 (42.7%) 0.75 991
    2019-07-01 $241,200 (75.8%) $311,116 (46.1%) 0.76 998
    2019-08-01 $239,500 (77.5%) $309,394 (47.1%) 0.75 1,002
    2019-09-01 $247,400 (83.4%) $326,554 (57.1%) 0.78 987
    2019-10-01 $239,700 (84.5%) $331,610 (62.2%) 0.77 1,019
    2019-11-01 $235,000 (88.0%) $334,357 (67.4%) 0.77 990
    2019-12-01 $230,750 (92.5%) $302,603 (56.3%) 0.77 904
    2020-01-01 $238,800 (100.5%) $305,099 (58.7%) 0.80 820
    2020-02-01 $249,500 (121.9%) $312,731 (63.7%) 0.82 771
    2020-03-01 $252,450 (8.8%) $321,585 (9.6%) 0.79 764
    2020-04-01 $253,925 (5.9%) $326,605 (10.0%) 0.80 782
    2020-05-01 $255,000 (5.6%) $337,205 (11.3%) 0.78 684
    2020-06-01 $266,150 (10.9%) $350,866 (14.4%) 0.78 621
    2020-07-01 $261,950 (8.6%) $404,291 (30.0%) 0.76 579
    2020-08-01 $259,900 (8.5%) $407,743 (31.8%) 0.74 553
    2020-09-01 $259,000 (4.7%) $400,536 (22.7%) 0.74 551
    2020-10-01 $249,450 (4.1%) $406,541 (22.6%) 0.71 557
    2020-11-01 $249,900 (6.3%) $409,298 (22.4%) 0.73 544
    2020-12-01 $244,900 (6.1%) $421,923 (39.4%) 0.73 493
    2021-01-01 $249,900 (4.7%) $438,230 (43.6%) 0.75 412
    2021-02-01 $253,450 (1.6%) $475,270 (52.0%) 0.74 338
    2021-03-01 $257,400 (2.0%) $472,960 (47.1%) 0.73 352
    2021-04-01 $277,325 (9.2%) $507,128 (55.3%) 0.75 332
    2021-05-01 $274,950 (7.8%) $464,859 (37.9%) 0.73 343
    2021-06-01 $287,400 (8.0%) $468,050 (33.4%) 0.76 366
    2021-07-01 $279,900 (6.9%) $445,862 (10.3%) 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 (12.5%) 0.77 457
    2021-10-01 $289,900 (16.2%) $447,683 (10.1%) 0.77 445
    2021-11-01 $293,750 (17.6%) $455,259 (11.2%) 0.79 391
    2021-12-01 $289,900 (18.4%) $402,527 (-4.6%) 0.79 337
    2022-01-01 $284,900 (14.0%) $355,839 (-18.8%) 0.77 279
    2022-02-01 $297,000 (17.2%) $363,157 (-23.6%) 0.77 266
    2022-03-01 $322,425 (25.3%) $387,139 (-18.2%) 0.81 263
    2022-04-01 $324,500 (17.0%) $386,147 (-23.9%) 0.77 262
    2022-05-01 $327,450 (19.1%) $394,427 (-15.2%) 0.75 326
    2022-06-01 $333,325 (16.0%) $395,753 (-15.5%) 0.74 391
    2022-07-01 $329,900 (17.9%) $411,435 (-7.7%) 0.75 461
    2022-08-01 $334,450 (20.5%) $412,310 (-6.2%) 0.77 458
    2022-09-01 $317,225 (9.2%) $401,472 (-10.9%) 0.74 434
    2022-10-01 $329,900 (13.8%) $409,933 (-8.4%) 0.78 427
    2022-11-01 $336,975 (14.7%) $419,967 (-7.8%) 0.81 435
    2022-12-01 $329,000 (13.5%) $403,007 (0.1%) 0.81 396
    2023-01-01 $324,625 (13.9%) $400,708 (12.6%) 0.80 369
    2023-02-01 $329,900 (11.1%) $406,751 (12.0%) 0.80 334
    2023-03-01 $339,450 (5.3%) $418,526 (8.1%) 0.80 348
    2023-04-01 $334,900 (3.2%) $420,821 (9.0%) 0.78 379
    Lynchburg's median listing price for 2023-04-01 was $334,900, a difference of $10,400 (3.2%) versus the prior year and $-4,550 versus the prior month.

    Lynchburg's median listing price comes in at 78% of the national average.

    Lynchburg's average listing price for 2023-04-01 was $420,821, a difference of $34,674 (9.0%) versus the prior year and $2,295 versus the prior month.

    For the 2023-04-01 period, Lynchburg had 379 MLS listings, a difference of 31 listings (9%) versus the prior month and 117 listings (45%) 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
    2018-01-01 102 days 1,973 sqft
    2018-02-01 98 days 1,976 sqft
    2018-03-01 72 days 1,990 sqft
    2018-04-01 61 days 2,023 sqft
    2018-05-01 100 days 2,052 sqft
    2018-06-01 110 days 2,090 sqft
    2018-07-01 112 days 2,052 sqft
    2018-08-01 109 days 2,017 sqft
    2018-09-01 113 days 2,010 sqft
    2018-10-01 117 days 1,990 sqft
    2018-11-01 122 days 1,952 sqft
    2018-12-01 136 days 1,930 sqft
    2019-01-01 142 days 1,957 sqft
    2019-02-01 149 days 1,962 sqft
    2019-03-01 85 days 2,000 sqft
    2019-04-01 61 days 2,008 sqft
    2019-05-01 61 days 2,002 sqft
    2019-06-01 64 days 2,072 sqft
    2019-07-01 67 days 2,109 sqft
    2019-08-01 73 days 2,065 sqft
    2019-09-01 79 days 2,052 sqft
    2019-10-01 76 days 2,015 sqft
    2019-11-01 81 days 1,988 sqft
    2019-12-01 89 days 1,959 sqft
    2020-01-01 94 days 1,960 sqft
    2020-02-01 85 days 1,973 sqft
    2020-03-01 63 days 1,986 sqft
    2020-04-01 61 days 1,992 sqft
    2020-05-01 71 days 2,010 sqft
    2020-06-01 71 days 2,097 sqft
    2020-07-01 64 days 2,094 sqft
    2020-08-01 56 days 2,088 sqft
    2020-09-01 56 days 2,035 sqft
    2020-10-01 55 days 1,890 sqft
    2020-11-01 64 days 1,907 sqft
    2020-12-01 68 days 1,861 sqft
    2021-01-01 75 days 1,844 sqft
    2021-02-01 76 days 1,850 sqft
    2021-03-01 50 days 1,842 sqft
    2021-04-01 44 days 1,888 sqft
    2021-05-01 44 days 1,875 sqft
    2021-06-01 42 days 1,892 sqft
    2021-07-01 40 days 1,880 sqft
    2021-08-01 43 days 1,932 sqft
    2021-09-01 45 days 1,899 sqft
    2021-10-01 48 days 1,881 sqft
    2021-11-01 53 days 1,878 sqft
    2021-12-01 59 days 1,795 sqft
    2022-01-01 64 days 1,730 sqft
    2022-02-01 48 days 1,748 sqft
    2022-03-01 38 days 1,862 sqft
    2022-04-01 38 days 1,865 sqft
    2022-05-01 34 days 1,897 sqft
    2022-06-01 33 days 1,950 sqft
    2022-07-01 39 days 1,952 sqft
    2022-08-01 50 days 1,934 sqft
    2022-09-01 53 days 1,852 sqft
    2022-10-01 53 days 1,822 sqft
    2022-11-01 53 days 1,872 sqft
    2022-12-01 62 days 1,800 sqft
    2023-01-01 64 days 1,794 sqft
    2023-02-01 47 days 1,734 sqft
    2023-03-01 45 days 1,817 sqft
    2023-04-01 39 days 1,800 sqft
    Lynchburg's median listing age (time on market) for 2023-04-01 was 39 days. This is 3% longer than the same period one year ago.

    Lynchburg's median square footage for active listings during the 2023-04-01 period was 1,800 sqft. One year prior, the average listing was 1,865 sqft.