Montrose USDA Loan Rates, Closing Costs & Stats

Montrose, CO

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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.

    Montrose's 3 lenders originated 4 USDA loans during 2023. The total origination value was $1,090,000, with an average USDA loan value of $272,500.

    Montrose USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Montrose averaged 6.78% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Montrose's average USDA mortgage closing costs are $5,981.

    The average rate for the prior week (2024-04-12) was 6.63% and one month ago for the week of 2024-03-15, the average rate was 6.81%.

    The average rate one year ago was 6.15%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

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

    Montrose 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 Montrose level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CORNERSTONE HOME LENDING, INC. 2 6.50% $5,969
    ACADEMY MORTGAGE CORPORATION 1 6.25% $7,729
    Great Plains National Bank 1 6.13% $6,130

    The top Montrose USDA lender as defined by loan originations is CORNERSTONE HOME LENDING, INC., with 2 USDA loans originated. Their average total fees are $5,969, which is $1,760 lower than the next largest lender, ACADEMY MORTGAGE CORPORATION.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Montrose (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 $423,675 (10.1%) $639,076 (14.6%) 0.00 308
    2018-02-01 $434,475 (14.9%) $655,773 (17.8%) 0.00 298
    2018-03-01 $437,000 (12.2%) $647,936 (16.0%) 0.00 307
    2018-04-01 $424,944 (10.4%) $613,092 (12.7%) 0.00 342
    2018-05-01 $425,125 (9.1%) $614,730 (11.7%) 0.00 372
    2018-06-01 $429,450 (8.1%) $630,138 (12.7%) 0.00 392
    2018-07-01 $423,825 (6.2%) $618,420 (12.2%) 0.00 418
    2018-08-01 $424,925 (6.5%) $618,892 (9.6%) 0.00 441
    2018-09-01 $423,750 (1.1%) $607,932 (4.5%) 0.00 442
    2018-10-01 $400,725 (-5.5%) $623,369 (6.7%) 0.00 413
    2018-11-01 $414,847 (-1.2%) $627,395 (7.5%) 0.00 394
    2018-12-01 $427,500 (3.0%) $614,538 (0.3%) 0.00 369
    2019-01-01 $424,875 (0.3%) $608,627 (-4.8%) 0.00 342
    2019-02-01 $425,375 (-2.1%) $613,504 (-6.5%) 0.00 328
    2019-03-01 $424,071 (-3.0%) $608,408 (-6.1%) 0.00 340
    2019-04-01 $428,821 (0.9%) $613,981 (0.1%) 0.00 350
    2019-05-01 $422,250 (-0.7%) $617,532 (0.5%) 0.00 374
    2019-06-01 $425,000 (-1.0%) $606,164 (-3.8%) 0.00 404
    2019-07-01 $425,000 (0.3%) $623,148 (0.8%) 0.00 419
    2019-08-01 $426,418 (0.4%) $620,061 (0.2%) 0.00 416
    2019-09-01 $428,545 (1.1%) $620,600 (2.1%) 0.00 408
    2019-10-01 $427,364 (6.7%) $617,298 (-1.0%) 0.00 402
    2019-11-01 $441,750 (6.5%) $637,209 (1.6%) 0.00 364
    2019-12-01 $450,000 (5.3%) $669,220 (8.9%) 0.00 325
    2020-01-01 $452,250 (6.4%) $675,585 (11.0%) 0.00 300
    2020-02-01 $450,000 (5.8%) $673,337 (9.8%) 0.00 275
    2020-03-01 $457,450 (7.9%) $689,053 (13.3%) 0.00 276
    2020-04-01 $448,450 (4.6%) $670,619 (9.2%) 0.00 279
    2020-05-01 $449,000 (6.3%) $642,191 (4.0%) 0.00 301
    2020-06-01 $449,250 (5.7%) $629,646 (3.9%) 0.00 326
    2020-07-01 $489,000 (15.1%) $664,546 (6.6%) 0.00 317
    2020-08-01 $524,950 (23.1%) $725,017 (16.9%) 0.00 284
    2020-09-01 $525,000 (22.5%) $780,688 (25.8%) 0.00 246
    2020-10-01 $525,000 (22.9%) $779,029 (26.2%) 0.00 212
    2020-11-01 $499,791 (13.1%) $786,080 (23.4%) 0.00 183
    2020-12-01 $547,000 (21.6%) $876,620 (31.0%) 0.00 158
    2021-01-01 $525,000 (16.1%) $909,525 (34.6%) 0.00 136
    2021-02-01 $523,450 (16.3%) $900,365 (33.7%) 0.00 131
    2021-03-01 $580,000 (26.8%) $910,339 (32.1%) 0.00 129
    2021-04-01 $612,420 (36.6%) $969,039 (44.5%) 0.00 115
    2021-05-01 $620,000 (38.1%) $973,222 (51.6%) 0.00 115
    2021-06-01 $651,750 (45.1%) $883,429 (40.3%) 0.00 147
    2021-07-01 $659,000 (34.8%) $897,339 (35.0%) 0.00 174
    2021-08-01 $659,750 (25.7%) $903,377 (24.6%) 0.00 188
    2021-09-01 $653,725 (24.5%) $916,885 (17.5%) 0.00 204
    2021-10-01 $636,250 (21.2%) $904,484 (16.1%) 0.00 189
    2021-11-01 $594,722 (19.0%) $990,658 (26.0%) 0.00 162
    2021-12-01 $622,450 (13.8%) $1,020,996 (16.5%) 0.00 146
    2022-01-01 $608,350 (15.9%) $1,012,079 (11.3%) 0.00 108
    2022-02-01 $640,450 (22.4%) $1,038,542 (15.4%) 0.00 99
    2022-03-01 $661,500 (14.1%) $1,022,252 (12.3%) 0.00 109
    2022-04-01 $649,000 (6.0%) $973,950 (0.5%) 0.00 123
    2022-05-01 $640,500 (3.3%) $974,583 (0.1%) 0.00 138
    2022-06-01 $654,000 (0.4%) $1,002,828 (13.5%) 0.00 177
    2022-07-01 $679,000 (3.0%) $993,686 (10.7%) 0.00 238
    2022-08-01 $659,000 (-0.1%) $1,003,964 (11.1%) 0.00 248
    2022-09-01 $649,497 (-0.7%) $1,006,702 (9.8%) 0.00 241
    2022-10-01 $649,000 (2.0%) $1,021,378 (12.9%) 0.00 237
    2022-11-01 $641,750 (7.9%) $910,261 (-8.1%) 0.00 228
    2022-12-01 $630,000 (1.2%) $921,405 (-9.8%) 0.00 187
    2023-01-01 $646,500 (6.3%) $952,673 (-5.9%) 0.00 158
    2023-02-01 $656,750 (2.6%) $956,953 (-7.9%) 0.00 151
    2023-03-01 $639,015 (-3.4%) $941,384 (-7.9%) 0.00 151
    2023-04-01 $612,400 (-5.6%) $895,168 (-8.1%) 0.00 184
    2023-05-01 $608,675 (-5.0%) $868,838 (-10.9%) 0.00 217
    2023-06-01 $631,060 (-3.5%) $936,656 (-6.6%) 0.00 239
    2023-07-01 $633,030 (-6.8%) $954,036 (-4.0%) 0.00 263
    2023-08-01 $599,000 (-9.1%) $912,370 (-9.1%) 0.00 285
    2023-09-01 $631,060 (-2.8%) $936,374 (-7.0%) 0.00 273
    2023-10-01 $626,688 (-3.4%) $901,426 (-11.7%) 0.00 262
    2023-11-01 $630,265 (-1.8%) $904,713 (-0.6%) 0.00 247
    2023-12-01 $672,000 (6.7%) $961,013 (4.3%) 0.00 236
    2024-01-01 $672,500 (4.0%) $994,425 (4.4%) 0.00 217
    2024-02-01 $689,900 (5.1%) $976,107 (2.0%) 0.00 212
    2024-03-01 $699,000 (9.4%) $993,808 (5.6%) 0.00 220
    Montrose's median listing price for 2024-03-01 was $699,000, a difference of $59,985 (9.4%) versus the prior year and $9,100 versus the prior month.

    Montrose's median listing price comes in at 0% of the national average.

    Montrose's average listing price for 2024-03-01 was $993,808, a difference of $52,424 (5.6%) versus the prior year and $17,701 versus the prior month.

    For the 2024-03-01 period, Montrose had 220 MLS listings, a difference of 8 listings (4%) versus the prior month and 69 listings (46%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Montrose (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,168 sqft
    2018-02-01 0 days 2,212 sqft
    2018-03-01 0 days 2,168 sqft
    2018-04-01 0 days 2,146 sqft
    2018-05-01 0 days 2,146 sqft
    2018-06-01 0 days 2,144 sqft
    2018-07-01 0 days 2,165 sqft
    2018-08-01 0 days 2,167 sqft
    2018-09-01 0 days 2,148 sqft
    2018-10-01 0 days 2,174 sqft
    2018-11-01 0 days 2,191 sqft
    2018-12-01 0 days 2,245 sqft
    2019-01-01 0 days 2,207 sqft
    2019-02-01 0 days 2,221 sqft
    2019-03-01 0 days 2,197 sqft
    2019-04-01 0 days 2,224 sqft
    2019-05-01 0 days 2,238 sqft
    2019-06-01 0 days 2,194 sqft
    2019-07-01 0 days 2,138 sqft
    2019-08-01 0 days 2,122 sqft
    2019-09-01 0 days 2,112 sqft
    2019-10-01 0 days 2,096 sqft
    2019-11-01 0 days 2,080 sqft
    2019-12-01 0 days 2,094 sqft
    2020-01-01 0 days 2,095 sqft
    2020-02-01 0 days 2,042 sqft
    2020-03-01 0 days 2,107 sqft
    2020-04-01 0 days 2,129 sqft
    2020-05-01 0 days 2,107 sqft
    2020-06-01 0 days 2,170 sqft
    2020-07-01 0 days 2,169 sqft
    2020-08-01 0 days 2,336 sqft
    2020-09-01 0 days 2,309 sqft
    2020-10-01 0 days 2,316 sqft
    2020-11-01 0 days 2,333 sqft
    2020-12-01 0 days 2,403 sqft
    2021-01-01 0 days 2,400 sqft
    2021-02-01 0 days 2,392 sqft
    2021-03-01 0 days 2,333 sqft
    2021-04-01 0 days 2,279 sqft
    2021-05-01 0 days 2,324 sqft
    2021-06-01 0 days 2,171 sqft
    2021-07-01 0 days 2,204 sqft
    2021-08-01 0 days 2,192 sqft
    2021-09-01 0 days 2,176 sqft
    2021-10-01 0 days 2,112 sqft
    2021-11-01 0 days 2,094 sqft
    2021-12-01 0 days 2,038 sqft
    2022-01-01 0 days 2,003 sqft
    2022-02-01 0 days 2,061 sqft
    2022-03-01 0 days 2,081 sqft
    2022-04-01 0 days 1,968 sqft
    2022-05-01 0 days 2,000 sqft
    2022-06-01 0 days 1,974 sqft
    2022-07-01 0 days 1,981 sqft
    2022-08-01 0 days 2,040 sqft
    2022-09-01 0 days 2,052 sqft
    2022-10-01 0 days 2,106 sqft
    2022-11-01 0 days 2,145 sqft
    2022-12-01 0 days 2,144 sqft
    2023-01-01 0 days 2,156 sqft
    2023-02-01 0 days 2,112 sqft
    2023-03-01 0 days 1,986 sqft
    2023-04-01 0 days 1,944 sqft
    2023-05-01 0 days 1,985 sqft
    2023-06-01 0 days 2,035 sqft
    2023-07-01 0 days 2,032 sqft
    2023-08-01 0 days 1,992 sqft
    2023-09-01 0 days 2,017 sqft
    2023-10-01 0 days 2,014 sqft
    2023-11-01 0 days 1,997 sqft
    2023-12-01 0 days 1,998 sqft
    2024-01-01 0 days 1,982 sqft
    2024-02-01 0 days 1,988 sqft
    2024-03-01 0 days 2,001 sqft
    Montrose's median listing age (time on market) for 2024-03-01 was 0 days.

    Montrose's median square footage for active listings during the 2024-03-01 period was 2,001 sqft. One year prior, the average listing was 1,986 sqft.