Naples USDA Loan Rates, Closing Costs & Stats

NAPLES-MARCO ISLAND, FL

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.

Naples's 13 lenders originated 45 USDA loans during 2021. The total origination value was $14,165,000, with an average USDA loan value of $314,778.

Naples USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Naples averaged 6.27% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Naples's average USDA mortgage closing costs are $8,534.

The average rate for the prior week (2022-11-25) was 6.6% and one month ago for the week of 2022-10-28, the average rate was 7.07%.

The average rate one year ago was 3.17%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.23%.

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

Naples 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 Naples level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
CROSSCOUNTRY MORTGAGE, LLC 18 3.07% $8,346
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 5 2.70% $13,463
CALIBER HOME LOANS, INC. 4 2.88% $10,125
ENVOY MORTGAGE, LTD 2 2.88% $10,236
MOVEMENT MORTGAGE, LLC 2 2.63% $7,320
Paramount Residential Mortgage Group, Inc. 2 2.81% $11,228
GMFS LLC 1 2.25% $8,796
EAGLE HOME MORTGAGE, LLC 1 3.50% $7,269
BROKER SOLUTIONS, INC. 1 3.25% $7,840
Carrington Mortgage Services, LLC 1 4.25% $10,106
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.88% $9,253
Flagstar Bank, FSB 1 2.25% $7,005
Florida Capital Bank 1 2.75% $5,438

The top Naples USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 18 USDA loans originated. Their average total fees are $8,346, which is $5,117 lower than the next largest lender, CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP.

The lowest fee Naples USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC ($8,346), .

The lowest rate Naples USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC (3.07%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Naples (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 $468,900 (-6.0%) $955,497 (-6.6%) 1.74 6,385
2018-02-01 $469,000 (-5.7%) $938,749 (-7.2%) 1.70 6,867
2018-03-01 $460,000 (-6.0%) $930,658 (-7.1%) 1.61 7,090
2018-04-01 $456,100 (-6.7%) $911,095 (-7.9%) 1.55 6,898
2018-05-01 $449,900 (-5.3%) $893,558 (-8.7%) 1.50 6,574
2018-06-01 $449,900 (-5.7%) $883,640 (-9.3%) 1.50 6,206
2018-07-01 $449,700 (-5.3%) $886,938 (-7.1%) 1.50 5,894
2018-08-01 $445,473 (-5.2%) $883,042 (-8.0%) 1.49 5,719
2018-09-01 $439,950 (-6.4%) $882,337 (-9.6%) 1.48 5,649
2018-10-01 $445,000 (-5.1%) $910,227 (-5.9%) 1.50 6,080
2018-11-01 $449,000 (-4.3%) $920,712 (-3.8%) 1.52 6,595
2018-12-01 $449,000 (-2.4%) $915,696 (-3.8%) 1.55 6,957
2019-01-01 $449,450 (-4.2%) $924,565 (-3.2%) 1.55 7,385
2019-02-01 $454,862 (-3.0%) $923,294 (-1.7%) 1.54 7,863
2019-03-01 $458,914 (-0.2%) $932,991 (0.3%) 1.50 7,821
2019-04-01 $458,989 (0.6%) $932,733 (2.4%) 1.46 7,660
2019-05-01 $450,000 (0.0%) $927,471 (3.8%) 1.41 7,114
2019-06-01 $450,000 (0.0%) $938,388 (6.2%) 1.41 6,570
2019-07-01 $449,450 (-0.1%) $918,856 (3.6%) 1.41 6,112
2019-08-01 $449,245 (0.9%) $920,815 (4.3%) 1.42 5,962
2019-09-01 $449,614 (2.2%) $919,716 (4.2%) 1.44 5,883
2019-10-01 $449,950 (1.1%) $923,169 (1.4%) 1.45 5,855
2019-11-01 $459,000 (2.2%) $950,127 (3.2%) 1.50 6,021
2019-12-01 $465,000 (3.6%) $960,074 (4.9%) 1.55 6,129
2020-01-01 $475,000 (5.7%) $997,143 (7.9%) 1.59 6,092
2020-02-01 $475,000 (4.4%) $990,681 (7.3%) 1.55 6,208
2020-03-01 $475,000 (3.5%) $1,008,176 (8.1%) 1.49 6,165
2020-04-01 $469,000 (2.2%) $978,354 (4.9%) 1.47 5,999
2020-05-01 $472,441 (5.0%) $1,008,398 (8.7%) 1.44 5,688
2020-06-01 $475,000 (5.6%) $1,025,358 (9.3%) 1.40 5,346
2020-07-01 $472,963 (5.2%) $1,031,323 (12.2%) 1.37 4,932
2020-08-01 $475,000 (5.7%) $1,051,036 (14.1%) 1.36 4,626
2020-09-01 $478,262 (6.4%) $1,063,353 (15.6%) 1.37 4,318
2020-10-01 $475,000 (5.6%) $1,067,840 (15.7%) 1.36 4,161
2020-11-01 $479,000 (4.4%) $1,085,147 (14.2%) 1.40 3,919
2020-12-01 $476,998 (2.6%) $1,104,781 (15.1%) 1.42 3,643
2021-01-01 $479,000 (0.8%) $1,142,891 (14.6%) 1.43 3,197
2021-02-01 $497,000 (4.6%) $1,167,857 (17.9%) 1.45 2,421
2021-03-01 $548,500 (15.5%) $1,275,205 (26.5%) 1.56 1,799
2021-04-01 $581,720 (24.0%) $1,362,306 (39.2%) 1.57 1,495
2021-05-01 $600,000 (27.0%) $1,459,213 (44.7%) 1.59 1,267
2021-06-01 $639,250 (34.6%) $1,520,675 (48.3%) 1.68 1,236
2021-07-01 $649,450 (37.3%) $1,574,647 (52.7%) 1.71 1,284
2021-08-01 $659,000 (38.7%) $1,554,938 (47.9%) 1.76 1,294
2021-09-01 $664,975 (39.0%) $1,613,465 (51.7%) 1.77 1,263
2021-10-01 $699,900 (47.4%) $1,684,128 (57.7%) 1.87 1,268
2021-11-01 $725,000 (51.4%) $1,782,725 (64.3%) 1.94 1,197
2021-12-01 $740,725 (55.3%) $1,839,031 (66.5%) 2.01 1,171
2022-01-01 $765,000 (59.7%) $1,923,920 (68.3%) 2.07 1,072
2022-02-01 $797,000 (60.4%) $1,963,444 (68.1%) 2.07 1,029
2022-03-01 $799,450 (45.8%) $1,858,828 (45.8%) 2.00 1,216
2022-04-01 $849,900 (46.1%) $1,834,910 (34.7%) 2.03 1,514
2022-05-01 $823,928 (37.3%) $1,743,167 (19.5%) 1.88 1,908
2022-06-01 $799,475 (25.1%) $1,689,887 (11.1%) 1.78 2,274
2022-07-01 $789,900 (21.6%) $1,675,123 (6.4%) 1.79 2,522
2022-08-01 $765,000 (16.1%) $1,608,877 (3.5%) 1.77 2,472
2022-09-01 $777,450 (16.9%) $1,623,722 (0.6%) 1.82 2,353
2022-10-01 $795,000 (13.6%) $1,671,162 (-0.8%) 1.87 2,384
2022-11-01 $799,000 (10.2%) $1,764,483 (-1.0%) 1.92 2,660
Naples's median listing price for 2022-11-01 was $799,000, a difference of $74,000 (10.2%) versus the prior year and $4,000 versus the prior month.

Naples's median listing price comes in at 192% of the national average.

Naples's average listing price for 2022-11-01 was $1,764,483, a difference of $-18,242 (-1.0%) versus the prior year and $93,321 versus the prior month.

For the 2022-11-01 period, Naples had 2,660 MLS listings, a difference of 276 listings (12%) versus the prior month and 1,463 listings (122%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Naples (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 91 days 1,943 sqft
2018-02-01 88 days 1,925 sqft
2018-03-01 84 days 1,910 sqft
2018-04-01 91 days 1,889 sqft
2018-05-01 97 days 1,876 sqft
2018-06-01 106 days 1,883 sqft
2018-07-01 114 days 1,889 sqft
2018-08-01 119 days 1,890 sqft
2018-09-01 120 days 1,884 sqft
2018-10-01 113 days 1,882 sqft
2018-11-01 102 days 1,880 sqft
2018-12-01 97 days 1,869 sqft
2019-01-01 96 days 1,866 sqft
2019-02-01 94 days 1,866 sqft
2019-03-01 95 days 1,865 sqft
2019-04-01 95 days 1,862 sqft
2019-05-01 105 days 1,861 sqft
2019-06-01 112 days 1,868 sqft
2019-07-01 118 days 1,866 sqft
2019-08-01 119 days 1,867 sqft
2019-09-01 117 days 1,868 sqft
2019-10-01 115 days 1,876 sqft
2019-11-01 100 days 1,883 sqft
2019-12-01 96 days 1,880 sqft
2020-01-01 98 days 1,895 sqft
2020-02-01 97 days 1,900 sqft
2020-03-01 95 days 1,899 sqft
2020-04-01 99 days 1,883 sqft
2020-05-01 108 days 1,884 sqft
2020-06-01 116 days 1,881 sqft
2020-07-01 121 days 1,870 sqft
2020-08-01 108 days 1,832 sqft
2020-09-01 106 days 1,832 sqft
2020-10-01 99 days 1,819 sqft
2020-11-01 87 days 1,824 sqft
2020-12-01 84 days 1,802 sqft
2021-01-01 80 days 1,777 sqft
2021-02-01 72 days 1,786 sqft
2021-03-01 53 days 1,833 sqft
2021-04-01 46 days 1,853 sqft
2021-05-01 45 days 1,868 sqft
2021-06-01 45 days 1,922 sqft
2021-07-01 46 days 1,901 sqft
2021-08-01 56 days 1,889 sqft
2021-09-01 60 days 1,924 sqft
2021-10-01 61 days 1,944 sqft
2021-11-01 62 days 2,000 sqft
2021-12-01 51 days 1,980 sqft
2022-01-01 55 days 1,967 sqft
2022-02-01 37 days 1,934 sqft
2022-03-01 31 days 1,914 sqft
2022-04-01 32 days 1,903 sqft
2022-05-01 36 days 1,883 sqft
2022-06-01 41 days 1,879 sqft
2022-07-01 52 days 1,868 sqft
2022-08-01 62 days 1,865 sqft
2022-09-01 71 days 1,878 sqft
2022-10-01 76 days 1,888 sqft
2022-11-01 70 days 1,883 sqft
Naples's median listing age (time on market) for 2022-11-01 was 70 days. This is 13% longer than the same period one year ago.

Naples's median square footage for active listings during the 2022-11-01 period was 1,883 sqft. One year prior, the average listing was 2,000 sqft.