New York USDA Loan Rates, Closing Costs & Stats
New York-Newark-Jersey City, NY-NJ-PA
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 York's 33 lenders originated 58 USDA loans during 2022. The total origination value was $13,880,000, with an average USDA loan value of $239,310.
New York USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in New York
averaged
6.27%
for the week of 2023-12-01, compared to the national average (all USDA variants) of
6.997% for the same period.
New York's average USDA mortgage closing costs are $6,667.
The average rate for the prior week (2023-11-24) was
6.37% and
one month ago for the week of 2023-10-27, the
average rate was 7.02%.
The average rate one year ago was 5.94%.
For refis of the same type during the week of 2023-12-01, the average rate
was 5.35%.
New York 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 York level.
The top New York USDA lender as defined by loan originations is AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC, with
5 USDA loans originated. Their average total fees are
$9,597, which is $6,039
higher than the next largest lender,
EVERETT FINANCIAL, INC..
The lowest fee New York USDA lenders (with over 10 loans originated) are
.
The lowest rate New York USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - New York (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $499,000 (13.2%) | $1,183,848 (11.5%) | 1.85 | 48,078 |
2018-02-01 | $519,000 (14.2%) | $1,187,290 (7.0%) | 1.89 | 50,519 |
2018-03-01 | $529,990 (11.6%) | $1,165,830 (4.1%) | 1.86 | 54,044 |
2018-04-01 | $549,288 (12.1%) | $1,162,468 (1.3%) | 1.86 | 57,192 |
2018-05-01 | $559,000 (11.9%) | $1,155,699 (1.3%) | 1.87 | 62,369 |
2018-06-01 | $559,900 (12.0%) | $1,137,634 (0.1%) | 1.87 | 65,396 |
2018-07-01 | $552,746 (10.6%) | $1,118,190 (-0.6%) | 1.85 | 66,072 |
2018-08-01 | $549,000 (10.2%) | $1,084,990 (-1.6%) | 1.84 | 65,244 |
2018-09-01 | $549,900 (10.2%) | $1,092,591 (-2.4%) | 1.85 | 65,824 |
2018-10-01 | $549,999 (8.9%) | $1,103,774 (-3.8%) | 1.86 | 66,124 |
2018-11-01 | $549,900 (10.0%) | $1,115,330 (-3.2%) | 1.86 | 63,702 |
2018-12-01 | $540,000 (8.0%) | $1,115,419 (-4.1%) | 1.86 | 57,619 |
2019-01-01 | $535,000 (7.2%) | $1,114,648 (-5.9%) | 1.85 | 53,021 |
2019-02-01 | $547,000 (5.4%) | $1,128,535 (-5.0%) | 1.85 | 55,004 |
2019-03-01 | $560,143 (5.7%) | $1,129,832 (-3.1%) | 1.83 | 58,573 |
2019-04-01 | $575,000 (4.7%) | $1,125,884 (-3.2%) | 1.83 | 62,600 |
2019-05-01 | $589,000 (5.4%) | $1,130,654 (-2.2%) | 1.84 | 68,044 |
2019-06-01 | $585,000 (4.5%) | $1,121,808 (-1.4%) | 1.83 | 69,943 |
2019-07-01 | $575,000 (4.0%) | $1,107,799 (-0.9%) | 1.80 | 68,901 |
2019-08-01 | $575,818 (4.9%) | $1,102,068 (1.6%) | 1.82 | 68,034 |
2019-09-01 | $577,045 (4.9%) | $1,114,874 (2.0%) | 1.85 | 67,168 |
2019-10-01 | $577,864 (5.1%) | $1,125,163 (1.9%) | 1.86 | 66,028 |
2019-11-01 | $575,000 (4.6%) | $1,138,453 (2.1%) | 1.89 | 62,137 |
2019-12-01 | $574,250 (6.3%) | $1,164,229 (4.4%) | 1.91 | 54,253 |
2020-01-01 | $565,000 (5.6%) | $1,173,259 (5.3%) | 1.89 | 49,998 |
2020-02-01 | $575,000 (5.1%) | $1,176,774 (4.3%) | 1.89 | 51,377 |
2020-03-01 | $589,950 (5.3%) | $1,181,586 (4.6%) | 1.85 | 52,873 |
2020-04-01 | $598,919 (4.2%) | $1,221,279 (8.5%) | 1.88 | 48,982 |
2020-05-01 | $599,000 (1.7%) | $1,197,451 (5.9%) | 1.82 | 48,643 |
2020-06-01 | $599,944 (2.6%) | $1,191,407 (6.2%) | 1.77 | 51,190 |
2020-07-01 | $627,000 (9.0%) | $1,207,722 (9.0%) | 1.82 | 54,357 |
2020-08-01 | $640,000 (11.2%) | $1,250,249 (13.5%) | 1.83 | 54,382 |
2020-09-01 | $649,000 (12.5%) | $1,264,201 (13.4%) | 1.86 | 54,573 |
2020-10-01 | $649,999 (12.5%) | $1,292,958 (14.9%) | 1.86 | 55,665 |
2020-11-01 | $649,000 (12.9%) | $1,308,060 (14.9%) | 1.90 | 52,177 |
2020-12-01 | $649,000 (13.0%) | $1,328,971 (14.2%) | 1.93 | 46,933 |
2021-01-01 | $649,000 (14.9%) | $1,375,909 (17.3%) | 1.94 | 40,460 |
2021-02-01 | $649,950 (13.0%) | $1,399,963 (19.0%) | 1.89 | 38,708 |
2021-03-01 | $649,000 (10.0%) | $1,384,176 (17.2%) | 1.84 | 38,462 |
2021-04-01 | $649,948 (8.5%) | $1,392,774 (14.0%) | 1.76 | 40,119 |
2021-05-01 | $649,995 (8.5%) | $1,380,641 (15.3%) | 1.73 | 42,340 |
2021-06-01 | $645,371 (7.6%) | $1,341,064 (12.6%) | 1.70 | 44,884 |
2021-07-01 | $625,000 (-0.3%) | $1,297,611 (7.4%) | 1.65 | 45,176 |
2021-08-01 | $617,000 (-3.6%) | $1,281,947 (2.5%) | 1.65 | 44,670 |
2021-09-01 | $605,000 (-6.8%) | $1,285,038 (1.7%) | 1.61 | 43,618 |
2021-10-01 | $619,000 (-4.8%) | $1,303,291 (0.8%) | 1.65 | 43,541 |
2021-11-01 | $621,950 (-4.2%) | $1,352,541 (3.4%) | 1.66 | 39,094 |
2021-12-01 | $619,250 (-4.6%) | $1,385,108 (4.2%) | 1.68 | 32,924 |
2022-01-01 | $625,000 (-3.7%) | $1,494,589 (8.6%) | 1.69 | 28,166 |
2022-02-01 | $637,125 (-2.0%) | $1,442,437 (3.0%) | 1.66 | 28,501 |
2022-03-01 | $649,444 (0.1%) | $1,450,488 (4.8%) | 1.63 | 30,422 |
2022-04-01 | $660,000 (1.6%) | $1,448,165 (4.0%) | 1.57 | 32,093 |
2022-05-01 | $675,000 (3.9%) | $1,431,685 (3.7%) | 1.54 | 36,017 |
2022-06-01 | $675,000 (4.6%) | $1,377,868 (2.7%) | 1.50 | 38,792 |
2022-07-01 | $659,000 (5.4%) | $1,336,147 (3.0%) | 1.48 | 41,019 |
2022-08-01 | $650,000 (5.4%) | $1,318,876 (2.9%) | 1.50 | 40,186 |
2022-09-01 | $660,000 (9.1%) | $1,365,893 (6.3%) | 1.54 | 39,688 |
2022-10-01 | $674,495 (9.0%) | $1,454,790 (11.6%) | 1.59 | 40,051 |
2022-11-01 | $669,500 (7.7%) | $1,496,955 (10.7%) | 1.61 | 38,651 |
2022-12-01 | $660,000 (6.6%) | $1,519,408 (9.7%) | 1.63 | 33,980 |
2023-01-01 | $662,500 (6.0%) | $1,547,386 (3.5%) | 1.64 | 30,695 |
2023-02-01 | $679,950 (6.7%) | $1,577,426 (9.4%) | 1.64 | 30,175 |
2023-03-01 | $698,500 (7.6%) | $1,590,348 (9.6%) | 1.65 | 30,145 |
2023-04-01 | $699,999 (6.1%) | $1,611,768 (11.3%) | 1.63 | 31,315 |
2023-05-01 | $734,889 (8.9%) | $1,673,035 (16.9%) | 1.66 | 32,420 |
2023-06-01 | $749,000 (11.0%) | $1,624,692 (17.9%) | 1.68 | 33,239 |
2023-07-01 | $737,500 (11.9%) | $1,591,886 (19.1%) | 1.68 | 33,112 |
2023-08-01 | $717,000 (10.3%) | $1,555,281 (17.9%) | 1.65 | 32,798 |
2023-09-01 | $719,000 (8.9%) | $1,541,832 (12.9%) | 1.67 | 34,729 |
2023-10-01 | $729,500 (8.2%) | $1,608,290 (10.6%) | 1.72 | 33,896 |
2023-11-01 | $728,000 (8.7%) | $1,667,908 (11.4%) | 1.73 | 34,209 |
New York's median listing price comes in at 173% of the national average.
New York's average listing price for 2023-11-01 was $1,667,908, a difference of $170,953 (11.4%) versus the prior year and $59,618 versus the prior month.
For the 2023-11-01 period, New York had 34,209 MLS listings, a difference of 313 listings (1%) versus the prior month and -4,442 listings (-11%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - New York (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 84 days | 1,839 sqft |
2018-02-01 | 72 days | 1,856 sqft |
2018-03-01 | 52 days | 1,882 sqft |
2018-04-01 | 51 days | 1,895 sqft |
2018-05-01 | 46 days | 1,909 sqft |
2018-06-01 | 50 days | 1,917 sqft |
2018-07-01 | 59 days | 1,918 sqft |
2018-08-01 | 65 days | 1,912 sqft |
2018-09-01 | 66 days | 1,900 sqft |
2018-10-01 | 64 days | 1,886 sqft |
2018-11-01 | 65 days | 1,862 sqft |
2018-12-01 | 78 days | 1,840 sqft |
2019-01-01 | 82 days | 1,822 sqft |
2019-02-01 | 73 days | 1,833 sqft |
2019-03-01 | 59 days | 1,867 sqft |
2019-04-01 | 50 days | 1,909 sqft |
2019-05-01 | 50 days | 1,927 sqft |
2019-06-01 | 55 days | 1,936 sqft |
2019-07-01 | 64 days | 1,928 sqft |
2019-08-01 | 67 days | 1,923 sqft |
2019-09-01 | 69 days | 1,914 sqft |
2019-10-01 | 70 days | 1,908 sqft |
2019-11-01 | 71 days | 1,860 sqft |
2019-12-01 | 85 days | 1,840 sqft |
2020-01-01 | 90 days | 1,826 sqft |
2020-02-01 | 75 days | 1,842 sqft |
2020-03-01 | 54 days | 1,854 sqft |
2020-04-01 | 71 days | 1,861 sqft |
2020-05-01 | 85 days | 1,872 sqft |
2020-06-01 | 86 days | 1,869 sqft |
2020-07-01 | 47 days | 1,806 sqft |
2020-08-01 | 47 days | 1,758 sqft |
2020-09-01 | 51 days | 1,702 sqft |
2020-10-01 | 51 days | 1,686 sqft |
2020-11-01 | 60 days | 1,648 sqft |
2020-12-01 | 74 days | 1,607 sqft |
2021-01-01 | 84 days | 1,568 sqft |
2021-02-01 | 78 days | 1,533 sqft |
2021-03-01 | 55 days | 1,531 sqft |
2021-04-01 | 44 days | 1,542 sqft |
2021-05-01 | 41 days | 1,564 sqft |
2021-06-01 | 44 days | 1,577 sqft |
2021-07-01 | 47 days | 1,590 sqft |
2021-08-01 | 53 days | 1,581 sqft |
2021-09-01 | 57 days | 1,561 sqft |
2021-10-01 | 57 days | 1,534 sqft |
2021-11-01 | 59 days | 1,506 sqft |
2021-12-01 | 70 days | 1,458 sqft |
2022-01-01 | 79 days | 1,427 sqft |
2022-02-01 | 60 days | 1,406 sqft |
2022-03-01 | 40 days | 1,429 sqft |
2022-04-01 | 39 days | 1,450 sqft |
2022-05-01 | 38 days | 1,504 sqft |
2022-06-01 | 39 days | 1,551 sqft |
2022-07-01 | 44 days | 1,566 sqft |
2022-08-01 | 54 days | 1,553 sqft |
2022-09-01 | 59 days | 1,548 sqft |
2022-10-01 | 59 days | 1,536 sqft |
2022-11-01 | 62 days | 1,528 sqft |
2022-12-01 | 75 days | 1,502 sqft |
2023-01-01 | 82 days | 1,490 sqft |
2023-02-01 | 75 days | 1,485 sqft |
2023-03-01 | 55 days | 1,489 sqft |
2023-04-01 | 50 days | 1,498 sqft |
2023-05-01 | 48 days | 1,506 sqft |
2023-06-01 | 51 days | 1,530 sqft |
2023-07-01 | 54 days | 1,560 sqft |
2023-08-01 | 59 days | 1,559 sqft |
2023-09-01 | 60 days | 1,563 sqft |
2023-10-01 | 56 days | 1,572 sqft |
2023-11-01 | 58 days | 1,567 sqft |
New York's median square footage for active listings during the 2023-11-01 period was 1,567 sqft. One year prior, the average listing was 1,528 sqft.