New Haven USDA Loans

NEW HAVEN-MILFORD, CT

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.

New Haven's 8 lenders originated 9 USDA loans during 2021. The total origination value was $2,605,000, with an average USDA loan value of $289,444.

New Haven USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in New Haven averaged 5.13% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.37% and one month ago for the week of 2022-04-08, the average rate was 5.03%.

The average rate one year ago was 2.94%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.28%.

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

New Haven USDA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the New Haven level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.44% $6,849
GUARANTEED RATE AFFINITY, LLC 1 3.00% $10,545
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.50% $10,921
PENNYMAC LOAN SERVICES, LLC 1 3.13% $4,566
STEARNS LENDING, LLC 1 2.75% $6,472
TOTAL MORTGAGE SERVICES, LLC 1 3.00% $16,999
EQUITY RESOURCES, INC. 1 2.75% $5,422
UNITED WHOLESALE MORTGAGE, LLC 1 2.95% $8,977

The top New Haven USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 2 USDA loans originated. Their average total fees are $6,849, which is $3,696 lower than the next largest lender, GUARANTEED RATE AFFINITY, LLC.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - New Haven (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 $250,000 (0.0%) $375,107 (1.6%) 0.92 3,359
2018-02-01 $258,450 (-0.6%) $381,758 (2.4%) 0.93 3,453
2018-03-01 $265,000 (-1.8%) $384,495 (2.5%) 0.92 3,772
2018-04-01 $273,320 (-1.3%) $376,305 (-2.1%) 0.92 4,079
2018-05-01 $279,900 (0.0%) $369,186 (-6.3%) 0.93 4,441
2018-06-01 $279,900 (-2.5%) $366,012 (-9.7%) 0.93 4,518
2018-07-01 $275,000 (-3.5%) $372,162 (-7.6%) 0.92 4,597
2018-08-01 $269,950 (1.1%) $365,558 (-2.6%) 0.90 4,632
2018-09-01 $269,900 (2.0%) $363,210 (-3.2%) 0.90 4,579
2018-10-01 $269,900 (3.9%) $362,767 (-2.7%) 0.90 4,530
2018-11-01 $265,000 (2.0%) $358,678 (-2.9%) 0.89 4,281
2018-12-01 $259,900 (1.6%) $352,245 (-6.2%) 0.89 3,843
2019-01-01 $259,900 (4.0%) $353,597 (-5.7%) 0.90 3,452
2019-02-01 $259,900 (0.6%) $357,035 (-6.5%) 0.87 3,484
2019-03-01 $270,371 (2.0%) $361,296 (-6.0%) 0.88 3,739
2019-04-01 $279,450 (2.2%) $367,147 (-2.4%) 0.88 3,977
2019-05-01 $279,900 (0.0%) $365,394 (-1.0%) 0.86 4,231
2019-06-01 $279,000 (-0.3%) $362,657 (-0.9%) 0.86 4,362
2019-07-01 $276,950 (0.7%) $358,970 (-3.5%) 0.86 4,344
2019-08-01 $271,514 (0.6%) $354,237 (-3.1%) 0.85 4,185
2019-09-01 $266,450 (-1.3%) $351,458 (-3.2%) 0.85 4,038
2019-10-01 $265,000 (-1.8%) $353,139 (-2.7%) 0.85 3,906
2019-11-01 $260,000 (-1.9%) $348,130 (-2.9%) 0.84 3,603
2019-12-01 $259,900 (0.0%) $347,545 (-1.3%) 0.87 3,104
2020-01-01 $259,000 (-0.4%) $346,224 (-2.1%) 0.86 2,733
2020-02-01 $264,999 (2.0%) $350,193 (-1.9%) 0.86 2,772
2020-03-01 $274,500 (1.5%) $356,402 (-1.4%) 0.86 3,071
2020-04-01 $274,900 (-1.6%) $362,115 (-1.4%) 0.86 2,924
2020-05-01 $279,900 (0.0%) $365,382 (0.0%) 0.85 2,807
2020-06-01 $289,900 (3.9%) $375,670 (3.6%) 0.85 3,010
2020-07-01 $289,950 (4.7%) $380,168 (5.9%) 0.83 3,075
2020-08-01 $289,000 (6.4%) $379,009 (7.0%) 0.83 3,069
2020-09-01 $279,900 (5.1%) $380,085 (8.2%) 0.80 3,084
2020-10-01 $285,000 (7.6%) $380,566 (7.8%) 0.81 3,035
2020-11-01 $286,950 (10.4%) $385,506 (10.7%) 0.82 2,644
2020-12-01 $279,800 (7.7%) $386,620 (11.2%) 0.82 2,292
2021-01-01 $285,000 (10.0%) $396,371 (14.5%) 0.84 1,875
2021-02-01 $289,900 (9.4%) $397,292 (13.5%) 0.83 1,718
2021-03-01 $297,000 (8.2%) $405,761 (13.9%) 0.83 1,843
2021-04-01 $299,900 (9.1%) $414,351 (14.4%) 0.81 1,928
2021-05-01 $309,900 (10.7%) $417,568 (14.3%) 0.82 2,131
2021-06-01 $337,400 (16.4%) $494,894 (31.7%) 0.88 1,150
2021-07-01 $339,000 (16.9%) $510,864 (34.4%) 0.88 1,277
2021-08-01 $329,900 (14.2%) $488,001 (28.8%) 0.87 1,413
2021-09-01 $325,000 (16.1%) $479,575 (26.2%) 0.86 1,432
2021-10-01 $329,900 (15.8%) $484,678 (27.4%) 0.87 1,363
2021-11-01 $329,950 (15.0%) $482,233 (25.1%) 0.87 1,096
2021-12-01 $324,450 (16.0%) $475,402 (23.0%) 0.87 923
2022-01-01 $329,900 (15.8%) $490,755 (23.8%) 0.88 729
2022-02-01 $344,450 (18.8%) $512,804 (29.1%) 0.88 628
2022-03-01 $354,500 (19.4%) $514,659 (26.8%) 0.88 616
2022-04-01 $359,900 (20.0%) $525,655 (26.9%) 0.85 733
New Haven's median listing price for 2022-04-01 was $359,900, a difference of $60,000 (20.0%) versus the prior year and $5,400 versus the prior month.

New Haven's median listing price comes in at 85% of the national average.

New Haven's average listing price for 2022-04-01 was $525,655, a difference of $111,304 (26.9%) versus the prior year and $10,996 versus the prior month.

For the 2022-04-01 period, New Haven had 733 MLS listings, a difference of 117 listings (19%) versus the prior month and -1,195 listings (-62%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - New Haven (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 96 days 1,527 sqft
2018-02-01 95 days 1,548 sqft
2018-03-01 66 days 1,583 sqft
2018-04-01 55 days 1,616 sqft
2018-05-01 53 days 1,636 sqft
2018-06-01 53 days 1,632 sqft
2018-07-01 61 days 1,627 sqft
2018-08-01 66 days 1,617 sqft
2018-09-01 71 days 1,616 sqft
2018-10-01 78 days 1,620 sqft
2018-11-01 81 days 1,605 sqft
2018-12-01 94 days 1,586 sqft
2019-01-01 102 days 1,574 sqft
2019-02-01 99 days 1,559 sqft
2019-03-01 67 days 1,594 sqft
2019-04-01 52 days 1,637 sqft
2019-05-01 50 days 1,712 sqft
2019-06-01 53 days 1,790 sqft
2019-07-01 59 days 1,782 sqft
2019-08-01 66 days 1,763 sqft
2019-09-01 68 days 1,747 sqft
2019-10-01 71 days 1,760 sqft
2019-11-01 71 days 1,748 sqft
2019-12-01 82 days 1,735 sqft
2020-01-01 88 days 1,720 sqft
2020-02-01 77 days 1,733 sqft
2020-03-01 50 days 1,756 sqft
2020-04-01 55 days 1,750 sqft
2020-05-01 64 days 1,755 sqft
2020-06-01 51 days 1,786 sqft
2020-07-01 43 days 1,794 sqft
2020-08-01 42 days 1,757 sqft
2020-09-01 42 days 1,737 sqft
2020-10-01 43 days 1,747 sqft
2020-11-01 46 days 1,743 sqft
2020-12-01 51 days 1,716 sqft
2021-01-01 59 days 1,716 sqft
2021-02-01 48 days 1,691 sqft
2021-03-01 35 days 1,686 sqft
2021-04-01 32 days 1,694 sqft
2021-05-01 31 days 1,711 sqft
2021-06-01 29 days 1,766 sqft
2021-07-01 29 days 1,771 sqft
2021-08-01 33 days 1,613 sqft
2021-09-01 40 days 1,590 sqft
2021-10-01 45 days 1,612 sqft
2021-11-01 50 days 1,582 sqft
2021-12-01 59 days 1,570 sqft
2022-01-01 67 days 1,603 sqft
2022-02-01 46 days 1,597 sqft
2022-03-01 26 days 1,624 sqft
2022-04-01 20 days 1,600 sqft
New Haven's median listing age (time on market) for 2022-04-01 was 20 days. This is -37% shorter than the same period one year ago.

New Haven's median square footage for active listings during the 2022-04-01 period was 1,600 sqft. One year prior, the average listing was 1,694 sqft.