New York USDA Loan Rates, Closing Costs & Stats

New York-Newark-Jersey City, NY-NJ-PA

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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 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%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    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.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 4.45% $9,597
    EVERETT FINANCIAL, INC. 3 5.33% $3,558
    HOME POINT FINANCIAL CORPORATION 3 4.29% $10,022
    ABSOLUTE HOME MORTGAGE CORPORATION 3 5.29% $9,320
    CROSSCOUNTRY MORTGAGE, LLC 2 4.38% $8,317
    EMM LOANS LLC 2 4.44% $9,539
    Equity Prime Mortgage LLC 2 3.94% $5,432
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.06% $11,486
    Advisors Mortgage Group, L.L.C. 2 6.31% $8,584
    CARDINAL FINANCIAL 2 4.44% $9,139
    Century Mortgage Company DBA Century Lending Company 2 6.00% $8,414
    GREENWAY MORTGAGE FUNDING CORP. 2 4.13% $9,939
    GUARANTEED RATE, INC. 2 4.13% $7,606
    MOVEMENT MORTGAGE, LLC 2 3.63% $3,889
    Paramount Residential Mortgage Group, Inc. 2 6.25% $12,127
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 4.75% $5,845
    Summit Mortgage Corporation 2 5.88% $8,182
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 4.63% $6,611
    JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 1 3.75% $13,471
    LOANDEPOT.COM, LLC 1 5.13% $7,508
    MDE Home Loans, LLC 1 3.00% $7,300
    MILLENIUM HOME MORTGAGE, LLC 1 5.63% $9,197
    MLB RESIDENTIAL LENDING, LLC 1 6.50% $12,255
    U.S. Bank 1 5.75% $7,482
    NATION ONE MORTGAGE CORPORATION 1 4.50% $14,030
    SUN WEST MORTGAGE COMPANY, INC. 1 3.13% $12,948
    PLAZA HOME MORTGAGE, INC. 1 6.13% $13,217
    DRAPER AND KRAMER MORTGAGE CORP. 1 4.88% $6,351
    First Guaranty Mortgage Corporation 1 3.00% $7,300
    GREENTREE MORTGAGE COMPANY, L.P. 1 5.63% $6,200
    UNITED WHOLESALE MORTGAGE, LLC 1 5.00% $6,498
    Princeton Mortgage Corporation 1 5.75% $9,456
    Citizens Bank 1 5.25% $3,956

    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. Louis
    Date 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 for 2023-04-01 was $699,999, a difference of $39,999 (6.1%) versus the prior year and $1,499 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2023-04-01 was 54 days. This is 26% longer than the same period one year ago.

    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.