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 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 0.04% for the week of 2022-11-25, compared to the national average (all USDA variants) of 0% for the same period.

New Haven's average USDA mortgage closing costs are $7,053.

The average rate for the prior week (2022-11-18) was 6.49% and one month ago for the week of 2022-10-21, the average rate was 6.8%.

The average rate one year ago was 3.44%.

For refis of the same type during the week of 2022-11-25, the average rate was -0.02%.

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/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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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 $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%) $388,295 (-7.0%) 0.94 2,768
2019-04-01 $299,450 (5.1%) $397,898 (-2.6%) 0.95 2,870
2019-05-01 $292,450 (-1.5%) $392,843 (-0.5%) 0.91 3,031
2019-06-01 $294,900 (0.0%) $390,033 (-0.2%) 0.92 3,189
2019-07-01 $292,450 (0.9%) $388,343 (-2.3%) 0.92 3,216
2019-08-01 $285,836 (-1.3%) $381,401 (-0.2%) 0.90 3,186
2019-09-01 $279,741 (-3.4%) $375,627 (-2.5%) 0.90 3,111
2019-10-01 $275,000 (-3.4%) $371,777 (-3.2%) 0.89 3,038
2019-11-01 $274,900 (0.0%) $367,178 (-2.3%) 0.90 2,782
2019-12-01 $269,950 (0.0%) $367,448 (-0.8%) 0.90 2,417
2020-01-01 $269,575 (-0.1%) $367,996 (-1.0%) 0.90 2,132
2020-02-01 $275,000 (0.1%) $377,088 (0.0%) 0.90 2,049
2020-03-01 $289,900 (0.8%) $390,073 (0.5%) 0.91 2,111
2020-04-01 $289,900 (-3.2%) $396,052 (-0.5%) 0.91 2,060
2020-05-01 $299,900 (2.6%) $405,336 (3.2%) 0.91 1,918
2020-06-01 $317,400 (7.6%) $431,627 (10.7%) 0.93 1,676
2020-07-01 $326,700 (11.7%) $447,246 (15.2%) 0.95 1,601
2020-08-01 $319,950 (11.9%) $452,619 (18.7%) 0.92 1,569
2020-09-01 $308,000 (10.1%) $449,264 (19.6%) 0.88 1,604
2020-10-01 $309,950 (12.7%) $448,242 (20.6%) 0.89 1,558
2020-11-01 $308,450 (12.2%) $446,424 (21.6%) 0.90 1,463
2020-12-01 $299,999 (11.1%) $452,931 (23.3%) 0.89 1,277
2021-01-01 $309,900 (15.0%) $465,938 (26.6%) 0.93 1,029
2021-02-01 $317,000 (15.3%) $470,235 (24.7%) 0.92 845
2021-03-01 $322,425 (11.2%) $488,684 (25.3%) 0.91 824
2021-04-01 $332,400 (14.7%) $514,018 (29.8%) 0.90 855
2021-05-01 $339,950 (13.4%) $509,687 (25.7%) 0.90 964
2021-06-01 $337,400 (6.3%) $505,157 (17.0%) 0.89 1,141
2021-07-01 $334,900 (2.5%) $506,372 (13.2%) 0.88 1,299
2021-08-01 $329,450 (3.0%) $484,482 (7.0%) 0.88 1,423
2021-09-01 $324,125 (5.2%) $476,900 (6.2%) 0.86 1,430
2021-10-01 $325,000 (4.9%) $482,559 (7.7%) 0.87 1,369
2021-11-01 $329,450 (6.8%) $479,047 (7.3%) 0.88 1,111
2021-12-01 $320,000 (6.7%) $468,845 (3.5%) 0.87 929
2022-01-01 $325,000 (4.9%) $484,341 (4.0%) 0.88 741
2022-02-01 $339,950 (7.2%) $504,697 (7.3%) 0.88 634
2022-03-01 $349,750 (8.5%) $509,474 (4.3%) 0.88 635
2022-04-01 $350,000 (5.3%) $517,416 (0.7%) 0.84 758
2022-05-01 $354,950 (4.4%) $503,003 (-1.3%) 0.81 892
2022-06-01 $358,525 (6.3%) $500,262 (-1.0%) 0.80 1,024
2022-07-01 $355,000 (6.0%) $492,593 (-2.7%) 0.80 1,163
2022-08-01 $359,000 (9.0%) $486,003 (0.3%) 0.83 1,146
2022-09-01 $352,450 (8.7%) $495,543 (3.9%) 0.82 1,147
2022-10-01 $350,000 (7.7%) $495,562 (2.7%) 0.82 1,190
New Haven's median listing price for 2022-10-01 was $350,000, a difference of $25,000 (7.7%) versus the prior year and $-2,450 versus the prior month.

New Haven's median listing price comes in at 82% of the national average.

New Haven's average listing price for 2022-10-01 was $495,562, a difference of $13,003 (2.7%) versus the prior year and $19 versus the prior month.

For the 2022-10-01 period, New Haven had 1,190 MLS listings, a difference of 43 listings (4%) versus the prior month and -179 listings (-13%) 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
2018-01-01 101 days 1,600 sqft
2018-02-01 99 days 1,616 sqft
2018-03-01 70 days 1,658 sqft
2018-04-01 58 days 1,707 sqft
2018-05-01 54 days 1,730 sqft
2018-06-01 57 days 1,716 sqft
2018-07-01 65 days 1,702 sqft
2018-08-01 68 days 1,682 sqft
2018-09-01 72 days 1,690 sqft
2018-10-01 79 days 1,682 sqft
2018-11-01 83 days 1,645 sqft
2018-12-01 95 days 1,626 sqft
2019-01-01 102 days 1,608 sqft
2019-02-01 96 days 1,617 sqft
2019-03-01 76 days 1,661 sqft
2019-04-01 53 days 1,712 sqft
2019-05-01 51 days 1,747 sqft
2019-06-01 54 days 1,847 sqft
2019-07-01 62 days 1,844 sqft
2019-08-01 67 days 1,829 sqft
2019-09-01 70 days 1,813 sqft
2019-10-01 74 days 1,804 sqft
2019-11-01 76 days 1,800 sqft
2019-12-01 87 days 1,776 sqft
2020-01-01 93 days 1,757 sqft
2020-02-01 85 days 1,779 sqft
2020-03-01 53 days 1,799 sqft
2020-04-01 60 days 1,780 sqft
2020-05-01 73 days 1,814 sqft
2020-06-01 58 days 1,854 sqft
2020-07-01 43 days 1,866 sqft
2020-08-01 42 days 1,862 sqft
2020-09-01 42 days 1,821 sqft
2020-10-01 43 days 1,811 sqft
2020-11-01 47 days 1,782 sqft
2020-12-01 56 days 1,771 sqft
2021-01-01 68 days 1,750 sqft
2021-02-01 61 days 1,734 sqft
2021-03-01 26 days 1,725 sqft
2021-04-01 27 days 1,790 sqft
2021-05-01 23 days 1,792 sqft
2021-06-01 24 days 1,755 sqft
2021-07-01 29 days 1,728 sqft
2021-08-01 32 days 1,601 sqft
2021-09-01 38 days 1,578 sqft
2021-10-01 44 days 1,605 sqft
2021-11-01 50 days 1,579 sqft
2021-12-01 58 days 1,568 sqft
2022-01-01 64 days 1,591 sqft
2022-02-01 38 days 1,587 sqft
2022-03-01 21 days 1,604 sqft
2022-04-01 18 days 1,580 sqft
2022-05-01 19 days 1,594 sqft
2022-06-01 23 days 1,604 sqft
2022-07-01 27 days 1,608 sqft
2022-08-01 34 days 1,787 sqft
2022-09-01 39 days 1,801 sqft
2022-10-01 37 days 1,800 sqft
New Haven's median listing age (time on market) for 2022-10-01 was 37 days. This is -16% shorter than the same period one year ago.

New Haven's median square footage for active listings during the 2022-10-01 period was 1,800 sqft. One year prior, the average listing was 1,605 sqft.