New Haven USDA Loan Rates, Closing Costs & Stats
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 3 lenders originated 4 USDA loans during 2022. The total origination value was $1,340,000, with an average USDA loan value of $335,000.
New Haven USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in New Haven
averaged
-0.11%
for the week of 2023-11-24, compared to the national average (all USDA variants) of
0% for the same period.
New Haven's average USDA mortgage closing costs are $7,356.
The average rate for the prior week (2023-11-17) was
6.98% and
one month ago for the week of 2023-10-20, the
average rate was 7.4%.
The average rate one year ago was 6.34%.
For refis of the same type during the week of 2023-11-24, the average rate
was -1.66%.
New Haven 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 New Haven level.
| Name | # of Loans | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
|---|---|---|---|
| TOTAL MORTGAGE SERVICES, LLC | 2 | 3.19% | $15,618 |
| Bank of England | 1 | 3.25% | $10,145 |
| GUARANTEED RATE AFFINITY, LLC | 1 | 4.75% | $8,014 |
The top New Haven USDA lender as defined by loan originations is TOTAL MORTGAGE SERVICES, LLC, with
2 USDA loans originated. Their average total fees are
$15,618, which is $5,474
higher than the next largest lender,
Bank of England.
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 | $261,475 (4.8%) | $397,044 (8.9%) | 0.97 | 2,823 |
| 2018-02-01 | $267,400 (7.0%) | $408,705 (10.9%) | 0.97 | 2,761 |
| 2018-03-01 | $279,000 (6.3%) | $417,339 (12.5%) | 0.98 | 2,890 |
| 2018-04-01 | $285,000 (5.6%) | $408,523 (7.3%) | 0.97 | 3,016 |
| 2018-05-01 | $296,950 (8.0%) | $394,701 (1.5%) | 0.99 | 3,248 |
| 2018-06-01 | $294,950 (5.9%) | $390,762 (-3.0%) | 0.98 | 3,404 |
| 2018-07-01 | $289,948 (3.9%) | $397,522 (-0.9%) | 0.97 | 3,530 |
| 2018-08-01 | $289,700 (5.2%) | $382,154 (-4.1%) | 0.97 | 3,604 |
| 2018-09-01 | $289,500 (7.2%) | $385,236 (-2.9%) | 0.97 | 3,613 |
| 2018-10-01 | $284,800 (5.5%) | $384,146 (-2.6%) | 0.96 | 3,528 |
| 2018-11-01 | $274,975 (3.2%) | $375,705 (-3.9%) | 0.93 | 3,355 |
| 2018-12-01 | $269,900 (2.2%) | $370,370 (-5.1%) | 0.93 | 3,029 |
| 2019-01-01 | $269,900 (3.2%) | $371,680 (-6.4%) | 0.93 | 2,716 |
| 2019-02-01 | $274,700 (2.7%) | $377,129 (-7.7%) | 0.93 | 2,670 |
| 2019-03-01 | $287,571 (3.1%) | $388,293 (-7.0%) | 0.94 | 2,767 |
| 2019-04-01 | $299,450 (5.1%) | $397,821 (-2.6%) | 0.95 | 2,867 |
| 2019-05-01 | $293,224 (-1.3%) | $393,000 (-0.4%) | 0.92 | 3,024 |
| 2019-06-01 | $294,995 (0.0%) | $390,448 (-0.1%) | 0.92 | 3,182 |
| 2019-07-01 | $292,450 (0.9%) | $388,756 (-2.2%) | 0.92 | 3,207 |
| 2019-08-01 | $285,836 (-1.3%) | $381,838 (-0.1%) | 0.91 | 3,177 |
| 2019-09-01 | $279,741 (-3.4%) | $376,064 (-2.4%) | 0.90 | 3,101 |
| 2019-10-01 | $275,000 (-3.4%) | $372,214 (-3.1%) | 0.89 | 3,028 |
| 2019-11-01 | $274,900 (0.0%) | $367,636 (-2.2%) | 0.90 | 2,773 |
| 2019-12-01 | $270,950 (0.4%) | $367,962 (-0.7%) | 0.90 | 2,408 |
| 2020-01-01 | $269,925 (0.0%) | $368,568 (-0.8%) | 0.90 | 2,123 |
| 2020-02-01 | $275,000 (0.1%) | $377,743 (0.2%) | 0.90 | 2,040 |
| 2020-03-01 | $289,950 (0.8%) | $390,744 (0.6%) | 0.91 | 2,102 |
| 2020-04-01 | $289,900 (-3.2%) | $396,727 (-0.3%) | 0.91 | 2,052 |
| 2020-05-01 | $299,900 (2.3%) | $406,164 (3.4%) | 0.91 | 1,908 |
| 2020-06-01 | $317,450 (7.6%) | $432,757 (10.8%) | 0.94 | 1,666 |
| 2020-07-01 | $326,950 (11.8%) | $448,513 (15.4%) | 0.95 | 1,591 |
| 2020-08-01 | $320,000 (12.0%) | $453,950 (18.9%) | 0.92 | 1,559 |
| 2020-09-01 | $308,500 (10.3%) | $450,543 (19.8%) | 0.88 | 1,594 |
| 2020-10-01 | $310,000 (12.7%) | $449,549 (20.8%) | 0.89 | 1,548 |
| 2020-11-01 | $309,450 (12.6%) | $447,767 (21.8%) | 0.91 | 1,453 |
| 2020-12-01 | $300,000 (10.7%) | $454,473 (23.5%) | 0.89 | 1,268 |
| 2021-01-01 | $310,000 (14.9%) | $468,117 (27.0%) | 0.93 | 1,019 |
| 2021-02-01 | $317,975 (15.6%) | $472,862 (25.2%) | 0.93 | 835 |
| 2021-03-01 | $324,900 (12.1%) | $491,572 (25.8%) | 0.92 | 814 |
| 2021-04-01 | $333,250 (15.0%) | $516,992 (30.3%) | 0.90 | 845 |
| 2021-05-01 | $340,000 (13.4%) | $512,193 (26.1%) | 0.90 | 956 |
| 2021-06-01 | $337,400 (6.3%) | $507,267 (17.2%) | 0.89 | 1,132 |
| 2021-07-01 | $335,000 (2.5%) | $508,451 (13.4%) | 0.88 | 1,290 |
| 2021-08-01 | $329,575 (3.0%) | $486,132 (7.1%) | 0.88 | 1,415 |
| 2021-09-01 | $324,950 (5.3%) | $478,572 (6.2%) | 0.87 | 1,421 |
| 2021-10-01 | $329,000 (6.1%) | $484,266 (7.7%) | 0.88 | 1,361 |
| 2021-11-01 | $329,900 (6.6%) | $481,309 (7.5%) | 0.88 | 1,102 |
| 2021-12-01 | $321,000 (7.0%) | $471,258 (3.7%) | 0.87 | 920 |
| 2022-01-01 | $329,900 (6.4%) | $486,516 (3.9%) | 0.89 | 732 |
| 2022-02-01 | $344,450 (8.3%) | $508,974 (7.6%) | 0.90 | 625 |
| 2022-03-01 | $350,000 (7.7%) | $513,833 (4.5%) | 0.88 | 626 |
| 2022-04-01 | $351,000 (5.3%) | $520,885 (0.8%) | 0.84 | 749 |
| 2022-05-01 | $357,450 (5.1%) | $506,099 (-1.2%) | 0.82 | 882 |
| 2022-06-01 | $361,000 (7.0%) | $502,853 (-0.9%) | 0.80 | 1,014 |
| 2022-07-01 | $358,000 (6.9%) | $494,812 (-2.7%) | 0.81 | 1,153 |
| 2022-08-01 | $360,950 (9.5%) | $488,184 (0.4%) | 0.83 | 1,136 |
| 2022-09-01 | $353,228 (8.7%) | $497,818 (4.0%) | 0.83 | 1,137 |
| 2022-10-01 | $350,000 (6.4%) | $497,744 (2.8%) | 0.82 | 1,180 |
| 2022-11-01 | $349,950 (6.1%) | $490,084 (1.8%) | 0.84 | 1,165 |
| 2022-12-01 | $349,900 (9.0%) | $489,391 (3.9%) | 0.86 | 977 |
| 2023-01-01 | $372,450 (12.9%) | $493,418 (1.4%) | 0.92 | 800 |
| 2023-02-01 | $387,000 (12.4%) | $515,822 (1.4%) | 0.93 | 712 |
| 2023-03-01 | $399,225 (14.1%) | $542,586 (5.6%) | 0.94 | 698 |
| 2023-04-01 | $399,950 (14.0%) | $549,293 (5.5%) | 0.93 | 716 |
| 2023-05-01 | $431,150 (20.6%) | $556,902 (10.0%) | 0.98 | 786 |
| 2023-06-01 | $424,850 (17.7%) | $578,734 (15.1%) | 0.95 | 811 |
| 2023-07-01 | $415,000 (15.9%) | $604,994 (22.3%) | 0.94 | 807 |
| 2023-08-01 | $394,500 (9.3%) | $572,667 (17.3%) | 0.91 | 817 |
| 2023-09-01 | $399,900 (13.2%) | $560,729 (12.6%) | 0.93 | 902 |
| 2023-10-01 | $399,900 (14.3%) | $570,346 (14.6%) | 0.94 | 935 |
New Haven's median listing price comes in at 94% of the national average.
New Haven's average listing price for 2023-10-01 was $570,346, a difference of $72,602 (14.6%) versus the prior year and $9,617 versus the prior month.
For the 2023-10-01 period, New Haven had 935 MLS listings, a difference of 33 listings (4%) versus the prior month and -245 listings (-21%) 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 | 93 days | 1,600 sqft |
| 2018-02-01 | 91 days | 1,616 sqft |
| 2018-03-01 | 60 days | 1,658 sqft |
| 2018-04-01 | 52 days | 1,708 sqft |
| 2018-05-01 | 50 days | 1,730 sqft |
| 2018-06-01 | 52 days | 1,716 sqft |
| 2018-07-01 | 59 days | 1,703 sqft |
| 2018-08-01 | 64 days | 1,682 sqft |
| 2018-09-01 | 67 days | 1,692 sqft |
| 2018-10-01 | 74 days | 1,682 sqft |
| 2018-11-01 | 77 days | 1,645 sqft |
| 2018-12-01 | 87 days | 1,626 sqft |
| 2019-01-01 | 93 days | 1,609 sqft |
| 2019-02-01 | 88 days | 1,618 sqft |
| 2019-03-01 | 68 days | 1,661 sqft |
| 2019-04-01 | 49 days | 1,712 sqft |
| 2019-05-01 | 47 days | 1,747 sqft |
| 2019-06-01 | 51 days | 1,848 sqft |
| 2019-07-01 | 58 days | 1,845 sqft |
| 2019-08-01 | 63 days | 1,830 sqft |
| 2019-09-01 | 66 days | 1,814 sqft |
| 2019-10-01 | 70 days | 1,805 sqft |
| 2019-11-01 | 72 days | 1,800 sqft |
| 2019-12-01 | 82 days | 1,777 sqft |
| 2020-01-01 | 87 days | 1,759 sqft |
| 2020-02-01 | 76 days | 1,780 sqft |
| 2020-03-01 | 49 days | 1,800 sqft |
| 2020-04-01 | 56 days | 1,782 sqft |
| 2020-05-01 | 70 days | 1,817 sqft |
| 2020-06-01 | 51 days | 1,854 sqft |
| 2020-07-01 | 39 days | 1,868 sqft |
| 2020-08-01 | 38 days | 1,862 sqft |
| 2020-09-01 | 38 days | 1,823 sqft |
| 2020-10-01 | 40 days | 1,817 sqft |
| 2020-11-01 | 45 days | 1,783 sqft |
| 2020-12-01 | 53 days | 1,771 sqft |
| 2021-01-01 | 64 days | 1,752 sqft |
| 2021-02-01 | 50 days | 1,735 sqft |
| 2021-03-01 | 24 days | 1,728 sqft |
| 2021-04-01 | 25 days | 1,793 sqft |
| 2021-05-01 | 22 days | 1,792 sqft |
| 2021-06-01 | 23 days | 1,757 sqft |
| 2021-07-01 | 28 days | 1,729 sqft |
| 2021-08-01 | 31 days | 1,601 sqft |
| 2021-09-01 | 37 days | 1,578 sqft |
| 2021-10-01 | 43 days | 1,605 sqft |
| 2021-11-01 | 47 days | 1,580 sqft |
| 2021-12-01 | 55 days | 1,570 sqft |
| 2022-01-01 | 60 days | 1,592 sqft |
| 2022-02-01 | 34 days | 1,588 sqft |
| 2022-03-01 | 20 days | 1,607 sqft |
| 2022-04-01 | 16 days | 1,581 sqft |
| 2022-05-01 | 17 days | 1,594 sqft |
| 2022-06-01 | 21 days | 1,604 sqft |
| 2022-07-01 | 26 days | 1,608 sqft |
| 2022-08-01 | 32 days | 1,789 sqft |
| 2022-09-01 | 38 days | 1,804 sqft |
| 2022-10-01 | 36 days | 1,803 sqft |
| 2022-11-01 | 44 days | 1,796 sqft |
| 2022-12-01 | 53 days | 1,776 sqft |
| 2023-01-01 | 63 days | 1,761 sqft |
| 2023-02-01 | 40 days | 1,758 sqft |
| 2023-03-01 | 31 days | 1,855 sqft |
| 2023-04-01 | 30 days | 1,803 sqft |
| 2023-05-01 | 24 days | 1,874 sqft |
| 2023-06-01 | 25 days | 1,830 sqft |
| 2023-07-01 | 29 days | 1,805 sqft |
| 2023-08-01 | 39 days | 1,740 sqft |
| 2023-09-01 | 37 days | 1,786 sqft |
| 2023-10-01 | 40 days | 1,802 sqft |
New Haven's median square footage for active listings during the 2023-10-01 period was 1,802 sqft. One year prior, the average listing was 1,803 sqft.