Merced USDA Loan Rates, Closing Costs & Stats

MERCED, CA

  • 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.

    Merced's 5 lenders originated 9 USDA loans during 2023. The total origination value was $2,995,000, with an average USDA loan value of $332,778.

    Merced USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Merced averaged 6.03% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

    Merced's average USDA mortgage closing costs are $7,581.

    The average rate for the prior week (2024-12-06) was 6.37% and one month ago for the week of 2024-11-08, the average rate was 6.48%.

    The average rate one year ago was 6.45%.

    For refis of the same type during the week of 2024-12-13, the average rate was 5.96%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 5 5.90% $10,200
    AMERICAN FINANCIAL NETWORK, INC. 1 6.13% $9,307
    CARDINAL FINANCIAL 1 6.13% $15,572
    MLD MORTGAGE INC. 1 6.13% $11,285
    OCMBC, INC. 1 5.25% $18,186

    The top Merced USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 5 USDA loans originated. Their average total fees are $10,200, which is $893 higher than the next largest lender, AMERICAN FINANCIAL NETWORK, 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%) 1.08 457
    2018-03-01 $296,170 (8.2%) $346,615 (3.0%) 1.04 460
    2018-04-01 $294,925 (5.7%) $339,152 (-0.2%) 1.00 475
    2018-05-01 $299,475 (6.0%) $358,718 (2.2%) 1.00 455
    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 $447,500 (17.9%) $725,601 (20.2%) 1.12 222
    2022-04-01 $450,000 (18.8%) $714,953 (18.2%) 1.07 259
    2022-05-01 $471,000 (22.3%) $719,866 (18.0%) 1.08 319
    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 (-2.4%) $543,071 (-25.2%) 1.03 284
    2023-04-01 $440,995 (-2.0%) $553,191 (-22.6%) 1.03 245
    2023-05-01 $449,985 (-4.5%) $562,926 (-21.8%) 1.02 242
    2023-06-01 $449,945 (-4.2%) $556,262 (-20.9%) 1.01 273
    2023-07-01 $449,000 (0.7%) $551,192 (-10.4%) 1.02 307
    2023-08-01 $458,220 (5.7%) $562,530 (-7.8%) 1.05 315
    2023-09-01 $442,439 (1.7%) $529,845 (-13.4%) 1.03 333
    2023-10-01 $434,500 (1.5%) $498,041 (-7.8%) 1.02 347
    2023-11-01 $434,488 (3.5%) $507,398 (-4.8%) 1.03 342
    2023-12-01 $439,975 (2.7%) $549,388 (6.7%) 1.07 312
    2024-01-01 $443,498 (5.0%) $554,264 (8.9%) 1.08 274
    2024-02-01 $452,495 (3.0%) $569,679 (3.6%) 1.09 254
    2024-03-01 $466,514 (6.8%) $585,844 (7.9%) 1.10 269
    2024-04-01 $467,498 (6.0%) $588,456 (6.4%) 1.09 296
    2024-05-01 $483,553 (7.5%) $631,715 (12.2%) 1.09 288
    2024-06-01 $480,000 (6.7%) $633,720 (13.9%) 1.08 295
    2024-07-01 $475,368 (5.9%) $593,006 (7.6%) 1.09 324
    2024-08-01 $469,999 (2.6%) $593,296 (5.5%) 1.09 335
    2024-09-01 $468,448 (5.9%) $576,119 (8.7%) 1.10 398
    2024-10-01 $468,995 (7.9%) $567,955 (14.0%) 1.10 405
    2024-11-01 $465,000 (7.0%) $580,854 (14.5%) 1.12 400
    Merced's median listing price for 2024-11-01 was $465,000, a difference of $30,512 (7.0%) versus the prior year and $-3,995 versus the prior month.

    Merced's median listing price comes in at 112% of the national average.

    Merced's average listing price for 2024-11-01 was $580,854, a difference of $73,456 (14.5%) versus the prior year and $12,899 versus the prior month.

    For the 2024-11-01 period, Merced had 400 MLS listings, a difference of -5 listings (-1%) versus the prior month and 58 listings (17%) 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 40 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 61 days 1,829 sqft
    2019-10-01 64 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 1,658 sqft
    2022-04-01 33 days 1,693 sqft
    2022-05-01 35 days 1,775 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
    2023-06-01 37 days 1,743 sqft
    2023-07-01 40 days 1,725 sqft
    2023-08-01 44 days 1,719 sqft
    2023-09-01 46 days 1,677 sqft
    2023-10-01 45 days 1,667 sqft
    2023-11-01 50 days 1,694 sqft
    2023-12-01 64 days 1,671 sqft
    2024-01-01 67 days 1,705 sqft
    2024-02-01 44 days 1,722 sqft
    2024-03-01 38 days 1,763 sqft
    2024-04-01 37 days 1,727 sqft
    2024-05-01 35 days 1,763 sqft
    2024-06-01 43 days 1,750 sqft
    2024-07-01 42 days 1,763 sqft
    2024-08-01 46 days 1,744 sqft
    2024-09-01 45 days 1,655 sqft
    2024-10-01 48 days 1,735 sqft
    2024-11-01 59 days 1,720 sqft
    Merced's median listing age (time on market) for 2024-11-01 was 59 days. This is 19% longer than the same period one year ago.

    Merced's median square footage for active listings during the 2024-11-01 period was 1,720 sqft. One year prior, the average listing was 1,694 sqft.