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
5.8%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
New York's average USDA mortgage closing costs are $6,667.
The average rate for the prior week (2023-05-19) was
5.94% and
one month ago for the week of 2023-04-21, the
average rate was 5.65%.
The average rate one year ago was 4.47%.
For refis of the same type during the week of 2023-05-26, the average rate
was 4.98%.
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%) | $1,187,313 (7.0%) | 1.89 | 50,519 |
2018-03-01 | $529,990 (11.6%) | $1,165,841 (4.1%) | 1.86 | 54,044 |
2018-04-01 | $549,288 (12.1%) | $1,162,478 (1.3%) | 1.86 | 57,192 |
2018-05-01 | $559,000 (11.9%) | $1,155,693 (1.3%) | 1.87 | 62,369 |
2018-06-01 | $559,900 (12.0%) | $1,137,719 (0.1%) | 1.87 | 65,396 |
2018-07-01 | $552,743 (10.6%) | $1,118,192 (-0.6%) | 1.85 | 66,072 |
2018-08-01 | $549,000 (10.2%) | $1,084,993 (-1.7%) | 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%) | $1,103,781 (-3.8%) | 1.86 | 66,123 |
2018-11-01 | $549,900 (10.0%) | $1,115,345 (-3.2%) | 1.86 | 63,701 |
2018-12-01 | $540,000 (8.0%) | $1,115,434 (-4.1%) | 1.86 | 57,618 |
2019-01-01 | $535,000 (7.2%) | $1,114,653 (-5.8%) | 1.85 | 53,021 |
2019-02-01 | $547,000 (5.4%) | $1,128,540 (-5.0%) | 1.85 | 55,004 |
2019-03-01 | $565,000 (6.6%) | $1,139,686 (-2.2%) | 1.88 | 58,517 |
2019-04-01 | $575,000 (4.7%) | $1,120,477 (-3.6%) | 1.83 | 62,613 |
2019-05-01 | $589,000 (5.4%) | $1,130,548 (-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 | $575,000 (4.7%) | $1,096,085 (1.0%) | 1.80 | 68,224 |
2019-09-01 | $589,500 (7.2%) | $1,137,328 (4.1%) | 1.86 | 63,390 |
2019-10-01 | $578,500 (5.2%) | $1,125,177 (1.9%) | 1.87 | 66,027 |
2019-11-01 | $575,000 (4.6%) | $1,138,468 (2.1%) | 1.89 | 62,136 |
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%) | $1,176,857 (4.3%) | 1.88 | 51,702 |
2020-03-01 | $589,950 (4.4%) | $1,181,586 (3.7%) | 1.85 | 52,873 |
2020-04-01 | $598,919 (4.2%) | $1,221,655 (9.0%) | 1.88 | 48,982 |
2020-05-01 | $599,000 (1.7%) | $1,197,435 (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 (11.3%) | $1,250,071 (14.1%) | 1.83 | 54,382 |
2020-09-01 | $649,000 (10.1%) | $1,264,201 (11.2%) | 1.86 | 54,573 |
2020-10-01 | $649,999 (12.4%) | $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%) | $1,375,995 (17.3%) | 1.94 | 40,460 |
2021-02-01 | $649,950 (13.0%) | $1,399,980 (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%) | $1,392,781 (14.0%) | 1.76 | 40,119 |
2021-05-01 | $649,993 (8.5%) | $1,380,636 (15.3%) | 1.73 | 42,340 |
2021-06-01 | $644,500 (7.4%) | $1,341,079 (12.6%) | 1.70 | 44,884 |
2021-07-01 | $625,000 (-0.3%) | $1,297,636 (7.4%) | 1.65 | 45,176 |
2021-08-01 | $617,000 (-3.6%) | $1,281,954 (2.6%) | 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%) | $1,303,371 (0.8%) | 1.65 | 43,541 |
2021-11-01 | $621,950 (-4.2%) | $1,352,513 (3.4%) | 1.66 | 39,094 |
2021-12-01 | $619,450 (-4.6%) | $1,385,104 (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%) | $1,442,433 (3.0%) | 1.66 | 28,501 |
2022-03-01 | $649,444 (0.1%) | $1,450,686 (4.8%) | 1.63 | 30,423 |
2022-04-01 | $660,000 (1.6%) | $1,448,123 (4.0%) | 1.57 | 32,094 |
2022-05-01 | $675,000 (3.9%) | $1,431,711 (3.7%) | 1.54 | 36,018 |
2022-06-01 | $675,000 (4.7%) | $1,377,880 (2.7%) | 1.50 | 38,793 |
2022-07-01 | $659,000 (5.4%) | $1,336,228 (3.0%) | 1.49 | 41,019 |
2022-08-01 | $650,000 (5.4%) | $1,318,880 (2.9%) | 1.50 | 40,185 |
2022-09-01 | $660,000 (9.1%) | $1,365,949 (6.3%) | 1.54 | 39,687 |
2022-10-01 | $674,500 (9.0%) | $1,454,884 (11.6%) | 1.59 | 40,049 |
2022-11-01 | $669,500 (7.7%) | $1,497,022 (10.7%) | 1.61 | 38,650 |
2022-12-01 | $660,000 (6.6%) | $1,519,670 (9.7%) | 1.63 | 33,983 |
2023-01-01 | $662,500 (6.0%) | $1,547,426 (3.5%) | 1.64 | 30,697 |
2023-02-01 | $679,950 (6.7%) | $1,577,536 (9.4%) | 1.64 | 30,177 |
2023-03-01 | $698,500 (7.6%) | $1,589,985 (9.6%) | 1.65 | 30,148 |
2023-04-01 | $699,999 (6.1%) | $1,611,725 (11.3%) | 1.63 | 31,316 |
New York's median listing price comes in at 163% of the national average.
New York's average listing price for 2023-04-01 was $1,611,725, a difference of $163,602 (11.3%) versus the prior year and $21,740 versus the prior month.
For the 2023-04-01 period, New York had 31,316 MLS listings, a difference of 1,168 listings (4%) versus the prior month and -778 listings (-2%) 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 | 89 days | 1,838 sqft |
2018-02-01 | 79 days | 1,854 sqft |
2018-03-01 | 57 days | 1,880 sqft |
2018-04-01 | 54 days | 1,895 sqft |
2018-05-01 | 51 days | 1,909 sqft |
2018-06-01 | 53 days | 1,917 sqft |
2018-07-01 | 62 days | 1,916 sqft |
2018-08-01 | 67 days | 1,910 sqft |
2018-09-01 | 71 days | 1,896 sqft |
2018-10-01 | 68 days | 1,883 sqft |
2018-11-01 | 68 days | 1,858 sqft |
2018-12-01 | 82 days | 1,837 sqft |
2019-01-01 | 88 days | 1,820 sqft |
2019-02-01 | 80 days | 1,829 sqft |
2019-03-01 | 60 days | 1,874 sqft |
2019-04-01 | 52 days | 1,906 sqft |
2019-05-01 | 52 days | 1,923 sqft |
2019-06-01 | 59 days | 1,932 sqft |
2019-07-01 | 67 days | 1,923 sqft |
2019-08-01 | 79 days | 1,932 sqft |
2019-09-01 | 85 days | 1,940 sqft |
2019-10-01 | 75 days | 1,901 sqft |
2019-11-01 | 76 days | 1,855 sqft |
2019-12-01 | 90 days | 1,837 sqft |
2020-01-01 | 95 days | 1,821 sqft |
2020-02-01 | 85 days | 1,841 sqft |
2020-03-01 | 59 days | 1,853 sqft |
2020-04-01 | 77 days | 1,856 sqft |
2020-05-01 | 91 days | 1,869 sqft |
2020-06-01 | 95 days | 1,865 sqft |
2020-07-01 | 54 days | 1,803 sqft |
2020-08-01 | 51 days | 1,755 sqft |
2020-09-01 | 55 days | 1,701 sqft |
2020-10-01 | 56 days | 1,683 sqft |
2020-11-01 | 66 days | 1,647 sqft |
2020-12-01 | 81 days | 1,605 sqft |
2021-01-01 | 89 days | 1,565 sqft |
2021-02-01 | 89 days | 1,531 sqft |
2021-03-01 | 63 days | 1,524 sqft |
2021-04-01 | 50 days | 1,538 sqft |
2021-05-01 | 46 days | 1,562 sqft |
2021-06-01 | 47 days | 1,575 sqft |
2021-07-01 | 52 days | 1,589 sqft |
2021-08-01 | 58 days | 1,580 sqft |
2021-09-01 | 60 days | 1,560 sqft |
2021-10-01 | 60 days | 1,532 sqft |
2021-11-01 | 63 days | 1,506 sqft |
2021-12-01 | 76 days | 1,458 sqft |
2022-01-01 | 85 days | 1,425 sqft |
2022-02-01 | 69 days | 1,406 sqft |
2022-03-01 | 46 days | 1,428 sqft |
2022-04-01 | 43 days | 1,450 sqft |
2022-05-01 | 41 days | 1,503 sqft |
2022-06-01 | 42 days | 1,549 sqft |
2022-07-01 | 46 days | 1,560 sqft |
2022-08-01 | 57 days | 1,550 sqft |
2022-09-01 | 65 days | 1,545 sqft |
2022-10-01 | 64 days | 1,534 sqft |
2022-11-01 | 66 days | 1,529 sqft |
2022-12-01 | 80 days | 1,504 sqft |
2023-01-01 | 88 days | 1,493 sqft |
2023-02-01 | 84 days | 1,488 sqft |
2023-03-01 | 61 days | 1,490 sqft |
2023-04-01 | 54 days | 1,500 sqft |
New York's median square footage for active listings during the 2023-04-01 period was 1,500 sqft. One year prior, the average listing was 1,450 sqft.