Merced USDA Loan Rates, Closing Costs & Stats
MERCED, CA
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
-0.07%
for the week of 2024-11-15, compared to the national average (all USDA variants) of
0% for the same period.
Merced's average USDA mortgage closing costs are $7,581.
The average rate for the prior week (2024-11-08) was
6.18% and
one month ago for the week of 2024-10-11, the
average rate was 5.74%.
The average rate one year ago was 7.07%.
For refis of the same type during the week of 2024-11-15, the average rate
was -0.14%.
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 |
Merced's median listing price comes in at 110% of the national average.
Merced's average listing price for 2024-10-01 was $567,955, a difference of $69,914 (14.0%) versus the prior year and $-8,164 versus the prior month.
For the 2024-10-01 period, Merced had 405 MLS listings, a difference of 7 listings (2%) 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 |
Merced's median square footage for active listings during the 2024-10-01 period was 1,735 sqft. One year prior, the average listing was 1,667 sqft.