New Haven USDA Loan Rates, Closing Costs & Stats

NEW HAVEN-MILFORD, CT

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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.

    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.