Modesto USDA Loan Rates, Closing Costs & Stats

MODESTO, 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.

Modesto's 1 lenders originated 1 USDA loans during 2023. The total origination value was $365,000, with an average USDA loan value of $365,000.

Modesto USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Modesto averaged 6.54% for the week of 2024-07-05, compared to the national average (all USDA variants) of 6.738% for the same period.

Modesto's average USDA mortgage closing costs are $8,305.

The average rate for the prior week (2024-06-28) was 6.82% and one month ago for the week of 2024-05-31, the average rate was 6.68%.

The average rate one year ago was 6.36%.

For refis of the same type during the week of 2024-07-05, the average rate was 6.88%.

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

Modesto 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 Modesto level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 1 6.00% $8,465

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Modesto (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 $346,500 (14.6%) $435,301 (9.6%) 1.28 643
2018-02-01 $346,875 (11.9%) $423,147 (4.2%) 1.26 681
2018-03-01 $353,000 (10.8%) $449,092 (10.6%) 1.24 722
2018-04-01 $359,500 (10.6%) $454,420 (10.9%) 1.22 753
2018-05-01 $364,950 (10.8%) $450,889 (9.2%) 1.22 842
2018-06-01 $355,000 (6.1%) $430,577 (4.4%) 1.18 957
2018-07-01 $354,900 (7.6%) $425,911 (2.8%) 1.19 1,005
2018-08-01 $350,000 (7.0%) $423,132 (1.6%) 1.17 1,106
2018-09-01 $349,000 (5.8%) $420,435 (2.2%) 1.17 1,086
2018-10-01 $339,913 (3.0%) $411,327 (0.3%) 1.15 1,102
2018-11-01 $339,900 (0.9%) $416,682 (0.9%) 1.15 1,079
2018-12-01 $340,000 (0.0%) $413,623 (-3.2%) 1.17 1,026
2019-01-01 $339,985 (-1.9%) $413,501 (-5.0%) 1.17 925
2019-02-01 $344,611 (-0.7%) $416,321 (-1.6%) 1.16 887
2019-03-01 $356,371 (1.0%) $426,391 (-5.1%) 1.17 836
2019-04-01 $365,000 (1.5%) $441,712 (-2.8%) 1.16 806
2019-05-01 $365,000 (0.0%) $441,618 (-2.1%) 1.14 865
2019-06-01 $369,950 (4.2%) $456,546 (6.0%) 1.16 879
2019-07-01 $374,400 (5.5%) $463,568 (8.8%) 1.17 851
2019-08-01 $375,836 (7.4%) $461,688 (9.1%) 1.19 870
2019-09-01 $369,741 (5.9%) $448,629 (6.7%) 1.18 897
2019-10-01 $367,677 (8.2%) $441,824 (7.4%) 1.19 886
2019-11-01 $369,000 (8.6%) $438,366 (5.2%) 1.21 794
2019-12-01 $368,950 (8.5%) $449,597 (8.7%) 1.23 640
2020-01-01 $372,000 (9.4%) $452,766 (9.5%) 1.24 575
2020-02-01 $375,120 (8.9%) $474,080 (13.9%) 1.23 538
2020-03-01 $389,225 (9.2%) $473,800 (11.1%) 1.22 610
2020-04-01 $377,250 (3.4%) $456,612 (3.4%) 1.18 667
2020-05-01 $377,000 (3.3%) $465,429 (5.4%) 1.15 661
2020-06-01 $392,450 (6.1%) $479,783 (5.1%) 1.16 486
2020-07-01 $402,225 (7.4%) $529,779 (14.3%) 1.17 411
2020-08-01 $419,000 (11.5%) $547,642 (18.6%) 1.20 356
2020-09-01 $417,225 (12.8%) $536,714 (19.6%) 1.20 374
2020-10-01 $418,888 (13.9%) $550,968 (24.7%) 1.20 399
2020-11-01 $422,500 (14.5%) $556,940 (27.1%) 1.24 410
2020-12-01 $431,235 (16.9%) $589,424 (31.1%) 1.28 354
2021-01-01 $439,000 (18.0%) $619,061 (36.7%) 1.31 299
2021-02-01 $429,950 (14.6%) $622,412 (31.3%) 1.25 265
2021-03-01 $443,500 (13.9%) $639,943 (35.1%) 1.26 267
2021-04-01 $445,600 (18.1%) $609,410 (33.5%) 1.21 299
2021-05-01 $449,800 (19.3%) $614,325 (32.0%) 1.19 320
2021-06-01 $448,425 (14.3%) $598,953 (24.8%) 1.18 379
2021-07-01 $449,900 (11.9%) $584,241 (10.3%) 1.19 451
2021-08-01 $460,000 (9.8%) $580,082 (5.9%) 1.23 495
2021-09-01 $464,500 (11.3%) $569,751 (6.2%) 1.24 481
2021-10-01 $472,450 (12.8%) $579,129 (5.1%) 1.26 526
2021-11-01 $482,450 (14.2%) $591,879 (6.3%) 1.29 467
2021-12-01 $481,315 (11.6%) $597,951 (1.5%) 1.30 352
2022-01-01 $479,925 (9.3%) $600,753 (-3.0%) 1.30 290
2022-02-01 $489,500 (13.9%) $612,804 (-1.5%) 1.27 279
2022-03-01 $494,225 (11.4%) $624,146 (-2.5%) 1.24 291
2022-04-01 $499,000 (12.0%) $630,535 (3.5%) 1.19 337
2022-05-01 $499,950 (11.2%) $639,979 (4.2%) 1.14 475
2022-06-01 $494,475 (10.3%) $598,062 (-0.2%) 1.10 607
2022-07-01 $480,000 (6.7%) $553,414 (-5.3%) 1.08 762
2022-08-01 $475,000 (3.3%) $549,208 (-5.3%) 1.10 824
2022-09-01 $472,500 (1.7%) $544,610 (-4.4%) 1.10 789
2022-10-01 $470,000 (-0.5%) $552,066 (-4.7%) 1.11 743
2022-11-01 $472,500 (-2.1%) $564,609 (-4.6%) 1.14 653
2022-12-01 $480,000 (-0.3%) $588,001 (-1.7%) 1.19 542
2023-01-01 $488,871 (1.9%) $595,593 (-0.9%) 1.21 456
2023-02-01 $489,499 (0.0%) $597,835 (-2.4%) 1.18 417
2023-03-01 $499,993 (1.2%) $610,642 (-2.2%) 1.18 363
2023-04-01 $520,000 (4.2%) $612,746 (-2.8%) 1.21 319
2023-05-01 $530,000 (6.0%) $627,971 (-1.9%) 1.20 322
2023-06-01 $531,200 (7.4%) $619,455 (3.6%) 1.19 358
2023-07-01 $522,450 (8.8%) $612,921 (10.8%) 1.19 414
2023-08-01 $516,250 (8.7%) $624,545 (13.7%) 1.19 441
2023-09-01 $504,500 (6.8%) $624,643 (14.7%) 1.17 448
2023-10-01 $519,987 (10.6%) $628,522 (13.9%) 1.22 488
2023-11-01 $499,987 (5.8%) $618,671 (9.6%) 1.19 505
2023-12-01 $509,995 (6.3%) $628,165 (6.8%) 1.24 460
2024-01-01 $522,500 (6.9%) $625,522 (5.0%) 1.28 416
2024-02-01 $525,000 (7.3%) $622,800 (4.2%) 1.26 385
2024-03-01 $519,999 (4.0%) $625,227 (2.4%) 1.22 448
2024-04-01 $529,000 (1.7%) $635,737 (3.8%) 1.23 496
2024-05-01 $535,000 (0.9%) $628,863 (0.1%) 1.21 539
2024-06-01 $535,995 (0.9%) $631,545 (2.0%) 1.20 577
Modesto's median listing price for 2024-06-01 was $535,995, a difference of $4,795 (0.9%) versus the prior year and $995 versus the prior month.

Modesto's median listing price comes in at 120% of the national average.

Modesto's average listing price for 2024-06-01 was $631,545, a difference of $12,090 (2.0%) versus the prior year and $2,682 versus the prior month.

For the 2024-06-01 period, Modesto had 577 MLS listings, a difference of 38 listings (7%) versus the prior month and 219 listings (61%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Modesto (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 57 days 1,837 sqft
2018-02-01 37 days 1,778 sqft
2018-03-01 35 days 1,837 sqft
2018-04-01 35 days 1,862 sqft
2018-05-01 33 days 1,870 sqft
2018-06-01 34 days 1,835 sqft
2018-07-01 37 days 1,829 sqft
2018-08-01 37 days 1,810 sqft
2018-09-01 38 days 1,767 sqft
2018-10-01 42 days 1,715 sqft
2018-11-01 45 days 1,704 sqft
2018-12-01 54 days 1,712 sqft
2019-01-01 57 days 1,695 sqft
2019-02-01 47 days 1,713 sqft
2019-03-01 42 days 1,755 sqft
2019-04-01 40 days 1,816 sqft
2019-05-01 39 days 1,813 sqft
2019-06-01 39 days 1,849 sqft
2019-07-01 43 days 1,863 sqft
2019-08-01 44 days 1,865 sqft
2019-09-01 43 days 1,838 sqft
2019-10-01 45 days 1,822 sqft
2019-11-01 52 days 1,844 sqft
2019-12-01 65 days 1,834 sqft
2020-01-01 67 days 1,833 sqft
2020-02-01 45 days 1,856 sqft
2020-03-01 35 days 1,888 sqft
2020-04-01 43 days 1,828 sqft
2020-05-01 57 days 1,853 sqft
2020-06-01 63 days 1,882 sqft
2020-07-01 53 days 1,902 sqft
2020-08-01 35 days 1,948 sqft
2020-09-01 32 days 1,844 sqft
2020-10-01 32 days 1,836 sqft
2020-11-01 37 days 1,851 sqft
2020-12-01 42 days 1,844 sqft
2021-01-01 46 days 1,845 sqft
2021-02-01 34 days 1,788 sqft
2021-03-01 32 days 1,841 sqft
2021-04-01 30 days 1,847 sqft
2021-05-01 26 days 1,789 sqft
2021-06-01 25 days 1,737 sqft
2021-07-01 26 days 1,754 sqft
2021-08-01 26 days 1,790 sqft
2021-09-01 30 days 1,724 sqft
2021-10-01 30 days 1,762 sqft
2021-11-01 37 days 1,745 sqft
2021-12-01 42 days 1,770 sqft
2022-01-01 40 days 1,763 sqft
2022-02-01 29 days 1,739 sqft
2022-03-01 26 days 1,750 sqft
2022-04-01 25 days 1,718 sqft
2022-05-01 23 days 1,755 sqft
2022-06-01 25 days 1,725 sqft
2022-07-01 30 days 1,695 sqft
2022-08-01 37 days 1,663 sqft
2022-09-01 44 days 1,661 sqft
2022-10-01 46 days 1,663 sqft
2022-11-01 54 days 1,662 sqft
2022-12-01 64 days 1,678 sqft
2023-01-01 60 days 1,712 sqft
2023-02-01 51 days 1,737 sqft
2023-03-01 40 days 1,794 sqft
2023-04-01 36 days 1,824 sqft
2023-05-01 35 days 1,822 sqft
2023-06-01 32 days 1,866 sqft
2023-07-01 33 days 1,860 sqft
2023-08-01 34 days 1,832 sqft
2023-09-01 37 days 1,786 sqft
2023-10-01 37 days 1,829 sqft
2023-11-01 42 days 1,787 sqft
2023-12-01 49 days 1,753 sqft
2024-01-01 47 days 1,805 sqft
2024-02-01 42 days 1,809 sqft
2024-03-01 33 days 1,783 sqft
2024-04-01 33 days 1,835 sqft
2024-05-01 27 days 1,796 sqft
2024-06-01 31 days 1,821 sqft
Modesto's median listing age (time on market) for 2024-06-01 was 31 days. This is -2% shorter than the same period one year ago.

Modesto's median square footage for active listings during the 2024-06-01 period was 1,821 sqft. One year prior, the average listing was 1,866 sqft.