Merced USDA Loan Rates, Closing Costs & Stats

MERCED, CA

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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.

    Merced's 8 lenders originated 9 USDA loans during 2022. The total origination value was $2,685,000, with an average USDA loan value of $298,333.

    Merced USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Merced averaged -0.4% for the week of 2023-06-02, compared to the national average (all USDA variants) of 0% for the same period.

    Merced's average USDA mortgage closing costs are $7,459.

    The average rate for the prior week (2023-05-26) was 6.04% and one month ago for the week of 2023-04-28, the average rate was 5.92%.

    The average rate one year ago was 4.68%.

    For refis of the same type during the week of 2023-06-02, the average rate was -1.32%.

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

    Merced 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 Merced level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 4.50% $9,676
    CALIBER HOME LOANS, INC. 1 3.85% $9,538
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 4.88% $11,445
    HOME POINT FINANCIAL CORPORATION 1 4.63% $7,089
    Paramount Residential Mortgage Group, Inc. 1 5.13% $13,173
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.50% $18,551
    SCENIC OAKS FUNDING, INC. 1 2.75% $7,897
    UNITED WHOLESALE MORTGAGE, LLC 1 3.00% $8,713

    The top Merced USDA lender as defined by loan originations is AMERICAN PACIFIC MORTGAGE CORPORATION, with 1 USDA loans originated. Their average total fees are $9,676, which is $138 higher than the next largest lender, CALIBER HOME LOANS, INC..

    The lowest fee Merced USDA lenders (with over 10 loans originated) are .

    The lowest rate Merced USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Merced (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 $299,450 (7.0%) $350,837 (3.5%) 1.11 477
    2018-02-01 $298,733 (8.6%) $354,156 (-20.3%) 1.09 457
    2018-03-01 $296,170 (8.2%) $346,615 (3.0%) 1.04 460
    2018-04-01 $294,925 (5.7%) $339,142 (-0.2%) 1.00 476
    2018-05-01 $299,475 (6.0%) $358,660 (2.2%) 1.00 456
    2018-06-01 $298,840 (4.9%) $362,682 (0.9%) 1.00 455
    2018-07-01 $305,000 (5.2%) $367,378 (3.0%) 1.02 489
    2018-08-01 $310,065 (8.6%) $371,008 (7.7%) 1.04 534
    2018-09-01 $300,000 (3.6%) $358,518 (3.1%) 1.01 572
    2018-10-01 $305,915 (5.6%) $372,978 (8.0%) 1.04 634
    2018-11-01 $299,900 (0.5%) $353,721 (1.5%) 1.02 652
    2018-12-01 $299,900 (-1.7%) $354,790 (0.9%) 1.03 653
    2019-01-01 $299,475 (0.0%) $360,698 (2.8%) 1.03 619
    2019-02-01 $305,250 (2.2%) $358,154 (1.1%) 1.03 642
    2019-03-01 $311,714 (5.3%) $589,720 (70.1%) 1.02 628
    2019-04-01 $318,908 (8.1%) $749,855 (121.1%) 1.01 622
    2019-05-01 $325,250 (8.6%) $385,989 (7.6%) 1.02 640
    2019-06-01 $329,900 (10.4%) $393,216 (8.4%) 1.03 665
    2019-07-01 $333,700 (9.4%) $402,317 (9.5%) 1.04 653
    2019-08-01 $329,136 (6.2%) $396,528 (6.9%) 1.04 642
    2019-09-01 $324,841 (8.3%) $396,435 (10.6%) 1.04 620
    2019-10-01 $321,977 (5.3%) $396,373 (6.3%) 1.04 605
    2019-11-01 $320,000 (6.7%) $395,190 (11.7%) 1.05 546
    2019-12-01 $319,950 (6.7%) $400,226 (12.8%) 1.07 519
    2020-01-01 $316,969 (5.8%) $399,872 (10.9%) 1.06 489
    2020-02-01 $329,900 (8.1%) $406,221 (13.4%) 1.08 446
    2020-03-01 $337,500 (8.3%) $388,434 (-34.1%) 1.06 429
    2020-04-01 $344,500 (8.0%) $387,096 (-48.4%) 1.08 433
    2020-05-01 $349,900 (7.6%) $886,825 (129.8%) 1.06 442
    2020-06-01 $349,950 (6.1%) $393,833 (0.2%) 1.03 377
    2020-07-01 $349,225 (4.7%) $474,433 (17.9%) 1.01 295
    2020-08-01 $347,500 (5.6%) $495,306 (24.9%) 1.00 225
    2020-09-01 $333,185 (2.6%) $506,156 (27.7%) 0.95 216
    2020-10-01 $339,900 (5.6%) $512,485 (29.3%) 0.97 232
    2020-11-01 $345,000 (7.8%) $497,379 (25.9%) 1.01 287
    2020-12-01 $369,950 (15.6%) $533,576 (33.3%) 1.10 244
    2021-01-01 $379,000 (19.6%) $569,047 (42.3%) 1.13 198
    2021-02-01 $377,900 (14.6%) $605,898 (49.2%) 1.10 174
    2021-03-01 $379,675 (12.5%) $603,936 (55.5%) 1.08 173
    2021-04-01 $378,675 (9.9%) $604,881 (56.3%) 1.03 158
    2021-05-01 $385,000 (10.0%) $610,046 (-31.2%) 1.02 161
    2021-06-01 $390,450 (11.6%) $586,095 (48.8%) 1.03 191
    2021-07-01 $395,000 (13.1%) $585,220 (23.4%) 1.04 214
    2021-08-01 $400,703 (15.3%) $588,135 (18.7%) 1.07 232
    2021-09-01 $399,950 (20.0%) $579,196 (14.4%) 1.07 274
    2021-10-01 $412,500 (21.4%) $619,992 (21.0%) 1.10 260
    2021-11-01 $424,975 (23.2%) $721,416 (45.0%) 1.14 247
    2021-12-01 $429,500 (16.1%) $704,181 (32.0%) 1.16 231
    2022-01-01 $437,000 (15.3%) $740,690 (30.2%) 1.18 187
    2022-02-01 $449,500 (19.0%) $757,590 (25.0%) 1.17 195
    2022-03-01 $447,450 (17.9%) $725,781 (20.2%) 1.12 221
    2022-04-01 $450,000 (18.8%) $715,425 (18.3%) 1.07 258
    2022-05-01 $470,500 (22.2%) $719,866 (18.0%) 1.08 318
    2022-06-01 $469,745 (20.3%) $703,604 (20.1%) 1.05 390
    2022-07-01 $445,999 (12.9%) $614,826 (5.1%) 1.00 473
    2022-08-01 $433,375 (8.2%) $610,052 (3.7%) 1.00 462
    2022-09-01 $435,225 (8.8%) $611,810 (5.6%) 1.02 455
    2022-10-01 $428,000 (3.8%) $540,096 (-12.9%) 1.01 450
    2022-11-01 $420,000 (-1.2%) $533,140 (-26.1%) 1.01 438
    2022-12-01 $428,500 (-0.2%) $514,681 (-26.9%) 1.06 381
    2023-01-01 $422,245 (-3.4%) $509,052 (-31.3%) 1.05 332
    2023-02-01 $439,500 (-2.2%) $549,859 (-27.4%) 1.06 300
    2023-03-01 $437,000 (-2.3%) $543,071 (-25.2%) 1.03 284
    2023-04-01 $440,995 (-2.0%) $553,191 (-22.7%) 1.03 245
    2023-05-01 $449,985 (-4.4%) $562,926 (-21.8%) 1.02 242
    Merced's median listing price for 2023-05-01 was $449,985, a difference of $-20,515 (-4.4%) versus the prior year and $8,990 versus the prior month.

    Merced's median listing price comes in at 102% of the national average.

    Merced's average listing price for 2023-05-01 was $562,926, a difference of $-156,940 (-21.8%) versus the prior year and $9,735 versus the prior month.

    For the 2023-05-01 period, Merced had 242 MLS listings, a difference of -3 listings (-1%) versus the prior month and -76 listings (-24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Merced (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 53 days 1,757 sqft
    2018-02-01 49 days 1,757 sqft
    2018-03-01 43 days 1,730 sqft
    2018-04-01 39 days 1,700 sqft
    2018-05-01 39 days 1,744 sqft
    2018-06-01 43 days 1,749 sqft
    2018-07-01 42 days 1,774 sqft
    2018-08-01 44 days 1,733 sqft
    2018-09-01 48 days 1,729 sqft
    2018-10-01 43 days 1,760 sqft
    2018-11-01 52 days 1,720 sqft
    2018-12-01 64 days 1,726 sqft
    2019-01-01 73 days 1,720 sqft
    2019-02-01 66 days 1,776 sqft
    2019-03-01 58 days 1,818 sqft
    2019-04-01 50 days 1,867 sqft
    2019-05-01 46 days 1,870 sqft
    2019-06-01 51 days 1,854 sqft
    2019-07-01 52 days 1,876 sqft
    2019-08-01 55 days 1,843 sqft
    2019-09-01 60 days 1,829 sqft
    2019-10-01 63 days 1,818 sqft
    2019-11-01 65 days 1,814 sqft
    2019-12-01 73 days 1,761 sqft
    2020-01-01 69 days 1,719 sqft
    2020-02-01 62 days 1,772 sqft
    2020-03-01 55 days 1,806 sqft
    2020-04-01 61 days 1,804 sqft
    2020-05-01 69 days 1,844 sqft
    2020-06-01 65 days 1,862 sqft
    2020-07-01 67 days 1,834 sqft
    2020-08-01 52 days 1,827 sqft
    2020-09-01 47 days 1,746 sqft
    2020-10-01 37 days 1,749 sqft
    2020-11-01 32 days 1,729 sqft
    2020-12-01 45 days 1,831 sqft
    2021-01-01 52 days 1,815 sqft
    2021-02-01 31 days 1,683 sqft
    2021-03-01 33 days 1,649 sqft
    2021-04-01 41 days 1,700 sqft
    2021-05-01 40 days 1,700 sqft
    2021-06-01 27 days 1,692 sqft
    2021-07-01 31 days 1,713 sqft
    2021-08-01 34 days 1,739 sqft
    2021-09-01 35 days 1,724 sqft
    2021-10-01 39 days 1,703 sqft
    2021-11-01 43 days 1,593 sqft
    2021-12-01 50 days 1,619 sqft
    2022-01-01 58 days 1,564 sqft
    2022-02-01 36 days 1,568 sqft
    2022-03-01 29 days 1,656 sqft
    2022-04-01 33 days 1,690 sqft
    2022-05-01 35 days 1,774 sqft
    2022-06-01 37 days 1,780 sqft
    2022-07-01 37 days 1,720 sqft
    2022-08-01 49 days 1,702 sqft
    2022-09-01 56 days 1,713 sqft
    2022-10-01 52 days 1,727 sqft
    2022-11-01 59 days 1,731 sqft
    2022-12-01 71 days 1,744 sqft
    2023-01-01 77 days 1,717 sqft
    2023-02-01 79 days 1,790 sqft
    2023-03-01 55 days 1,709 sqft
    2023-04-01 48 days 1,711 sqft
    2023-05-01 43 days 1,738 sqft
    Merced's median listing age (time on market) for 2023-05-01 was 43 days. This is 25% longer than the same period one year ago.

    Merced's median square footage for active listings during the 2023-05-01 period was 1,738 sqft. One year prior, the average listing was 1,774 sqft.