Norwich USDA Loan Rates, Closing Costs & Stats
NORWICH-NEW LONDON, 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.
Norwich's 7 lenders originated 9 USDA loans during 2023. The total origination value was $1,975,000, with an average USDA loan value of $219,444.
Norwich USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Norwich
averaged
6.58%
for the week of 2025-02-14, compared to the national average (all USDA variants) of
6.526% for the same period.
Norwich's average USDA mortgage closing costs are $5,939.
The average rate for the prior week (2025-02-07) was
6.34% and
one month ago for the week of 2025-01-10, the
average rate was 6.48%.
The average rate one year ago was 6.28%.
For refis of the same type during the week of 2025-02-14, the average rate
was 6.25%.
Norwich 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 Norwich level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| GUARANTEED RATE, INC. | 3 | 6.75% | $11,454 |
| NEWREZ LLC | 1 | 5.50% | $6,973 |
| NFM, INC. | 1 | 6.63% | $10,683 |
| PLAZA HOME MORTGAGE, INC. | 1 | 6.63% | $5,654 |
| Prosperity Home Mortgage, LLC | 1 | 6.49% | $6,460 |
| T2 FINANCIAL LLC | 1 | 7.50% | $10,318 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 5.62% | $7,810 |
The top Norwich USDA lender as defined by loan originations is GUARANTEED RATE, INC., with
3 USDA loans originated. Their average total fees are
$11,454, which is $4,482
higher than the next largest lender,
NEWREZ LLC.
The lowest fee Norwich USDA lenders (with over 10 loans originated) are
.
The lowest rate Norwich USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Norwich (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 | $247,450 (-0.9%) | $351,887 (-1.1%) | 1.00 | 1,288 |
| 2018-02-01 | $247,925 (-0.8%) | $350,627 (-1.4%) | 0.99 | 1,230 |
| 2018-03-01 | $254,900 (-0.8%) | $360,663 (-0.6%) | 1.02 | 1,231 |
| 2018-04-01 | $262,475 (-4.5%) | $370,491 (-2.2%) | 1.01 | 1,337 |
| 2018-05-01 | $268,588 (-4.0%) | $372,298 (-4.7%) | 1.00 | 1,424 |
| 2018-06-01 | $279,900 (-1.4%) | $380,422 (-2.6%) | 1.03 | 1,465 |
| 2018-07-01 | $274,950 (-4.9%) | $381,686 (-4.4%) | 1.00 | 1,585 |
| 2018-08-01 | $269,925 (-1.8%) | $373,730 (-3.2%) | 1.00 | 1,569 |
| 2018-09-01 | $265,000 (-1.8%) | $366,101 (-5.4%) | 0.97 | 1,604 |
| 2018-10-01 | $268,000 (1.2%) | $368,547 (-2.9%) | 0.98 | 1,581 |
| 2018-11-01 | $265,300 (2.1%) | $374,642 (1.4%) | 0.97 | 1,503 |
| 2018-12-01 | $251,950 (0.8%) | $359,615 (-0.5%) | 0.95 | 1,393 |
| 2019-01-01 | $252,900 (2.2%) | $359,613 (2.2%) | 0.94 | 1,212 |
| 2019-02-01 | $259,675 (4.7%) | $363,384 (3.6%) | 0.94 | 1,192 |
| 2019-03-01 | $266,329 (4.5%) | $371,675 (3.1%) | 0.94 | 1,199 |
| 2019-04-01 | $274,950 (4.8%) | $382,928 (3.4%) | 0.95 | 1,217 |
| 2019-05-01 | $286,745 (6.8%) | $391,668 (5.2%) | 0.98 | 1,296 |
| 2019-06-01 | $289,900 (3.6%) | $393,886 (3.5%) | 1.00 | 1,366 |
| 2019-07-01 | $289,900 (5.4%) | $390,870 (2.4%) | 0.97 | 1,391 |
| 2019-08-01 | $288,564 (6.9%) | $387,391 (3.7%) | 0.97 | 1,370 |
| 2019-09-01 | $286,559 (8.1%) | $384,473 (5.0%) | 0.97 | 1,352 |
| 2019-10-01 | $285,223 (6.4%) | $382,529 (3.8%) | 0.97 | 1,331 |
| 2019-11-01 | $285,000 (7.4%) | $384,989 (2.8%) | 0.98 | 1,232 |
| 2019-12-01 | $289,450 (14.9%) | $379,865 (5.6%) | 1.00 | 1,082 |
| 2020-01-01 | $279,900 (10.7%) | $369,337 (2.7%) | 1.00 | 936 |
| 2020-02-01 | $279,000 (7.4%) | $369,773 (1.8%) | 0.98 | 908 |
| 2020-03-01 | $280,925 (5.5%) | $376,642 (1.3%) | 0.94 | 915 |
| 2020-04-01 | $294,500 (7.1%) | $396,985 (3.7%) | 0.99 | 868 |
| 2020-05-01 | $299,000 (4.3%) | $417,946 (6.7%) | 1.00 | 796 |
| 2020-06-01 | $299,900 (3.5%) | $423,453 (7.5%) | 0.97 | 744 |
| 2020-07-01 | $312,725 (7.9%) | $438,955 (12.3%) | 0.99 | 638 |
| 2020-08-01 | $326,500 (13.2%) | $461,482 (19.1%) | 1.00 | 587 |
| 2020-09-01 | $324,950 (13.4%) | $459,326 (19.5%) | 1.01 | 591 |
| 2020-10-01 | $319,000 (11.8%) | $457,338 (19.6%) | 1.00 | 613 |
| 2020-11-01 | $319,475 (12.1%) | $467,728 (21.5%) | 1.02 | 559 |
| 2020-12-01 | $327,450 (13.1%) | $475,329 (25.1%) | 1.04 | 487 |
| 2021-01-01 | $300,000 (7.2%) | $474,848 (28.6%) | 1.01 | 397 |
| 2021-02-01 | $333,450 (19.5%) | $505,476 (36.7%) | 1.04 | 310 |
| 2021-03-01 | $324,950 (15.7%) | $506,048 (34.4%) | 1.04 | 303 |
| 2021-04-01 | $321,000 (9.0%) | $522,329 (31.6%) | 1.02 | 334 |
| 2021-05-01 | $345,000 (15.4%) | $509,261 (21.9%) | 1.06 | 369 |
| 2021-06-01 | $332,450 (10.9%) | $479,391 (13.2%) | 0.96 | 445 |
| 2021-07-01 | $325,000 (3.9%) | $472,303 (7.6%) | 0.92 | 507 |
| 2021-08-01 | $319,900 (-2.0%) | $458,492 (-0.7%) | 0.92 | 536 |
| 2021-09-01 | $319,475 (-1.7%) | $441,088 (-4.0%) | 0.93 | 538 |
| 2021-10-01 | $325,000 (1.9%) | $457,913 (0.1%) | 0.93 | 506 |
| 2021-11-01 | $314,700 (-1.5%) | $449,266 (-4.0%) | 0.93 | 442 |
| 2021-12-01 | $302,400 (-7.7%) | $451,897 (-4.9%) | 0.91 | 361 |
| 2022-01-01 | $299,000 (-0.3%) | $456,649 (-3.8%) | 0.93 | 266 |
| 2022-02-01 | $328,750 (-1.4%) | $474,736 (-6.1%) | 0.96 | 259 |
| 2022-03-01 | $328,225 (1.0%) | $472,716 (-6.6%) | 0.93 | 272 |
| 2022-04-01 | $349,900 (9.0%) | $486,112 (-6.9%) | 0.88 | 285 |
| 2022-05-01 | $372,400 (7.9%) | $525,327 (3.2%) | 0.91 | 341 |
| 2022-06-01 | $366,200 (10.2%) | $553,386 (15.4%) | 0.89 | 383 |
| 2022-07-01 | $357,450 (10.0%) | $550,289 (16.5%) | 0.91 | 435 |
| 2022-08-01 | $379,950 (18.8%) | $597,176 (30.3%) | 0.95 | 437 |
| 2022-09-01 | $378,375 (18.4%) | $584,547 (32.5%) | 0.93 | 428 |
| 2022-10-01 | $374,950 (15.4%) | $627,175 (37.0%) | 0.94 | 423 |
| 2022-11-01 | $397,200 (26.2%) | $647,505 (44.1%) | 1.04 | 391 |
| 2022-12-01 | $399,000 (31.9%) | $633,894 (40.3%) | 1.07 | 323 |
| 2023-01-01 | $393,195 (31.5%) | $589,571 (29.1%) | 1.09 | 273 |
| 2023-02-01 | $451,950 (37.5%) | $661,021 (39.2%) | 1.16 | 242 |
| 2023-03-01 | $468,000 (42.6%) | $726,577 (53.7%) | 1.20 | 225 |
| 2023-04-01 | $449,900 (28.6%) | $677,395 (39.4%) | 1.16 | 256 |
| 2023-05-01 | $462,425 (24.2%) | $694,120 (32.1%) | 1.13 | 290 |
| 2023-06-01 | $494,225 (35.0%) | $720,125 (30.1%) | 1.21 | 305 |
| 2023-07-01 | $474,950 (32.9%) | $694,431 (26.2%) | 1.14 | 298 |
| 2023-08-01 | $399,900 (5.3%) | $593,908 (-0.6%) | 0.99 | 307 |
| 2023-09-01 | $400,000 (5.7%) | $615,166 (5.2%) | 1.05 | 292 |
| 2023-10-01 | $424,900 (13.3%) | $643,118 (2.5%) | 1.13 | 315 |
| 2023-11-01 | $424,550 (6.9%) | $646,878 (-0.1%) | 1.09 | 331 |
| 2023-12-01 | $403,750 (1.2%) | $630,198 (-0.6%) | 1.10 | 293 |
| 2024-01-01 | $422,450 (7.4%) | $626,127 (6.2%) | 1.11 | 278 |
| 2024-02-01 | $439,681 (-2.7%) | $660,501 (-0.1%) | 1.15 | 261 |
| 2024-03-01 | $425,000 (-9.2%) | $652,625 (-10.2%) | 1.08 | 262 |
| 2024-04-01 | $467,225 (3.9%) | $716,203 (5.7%) | 1.16 | 274 |
| 2024-05-01 | $488,250 (5.6%) | $741,541 (6.8%) | 1.22 | 323 |
| 2024-06-01 | $459,950 (-6.9%) | $756,210 (5.0%) | 1.22 | 350 |
| 2024-07-01 | $457,450 (-3.7%) | $749,109 (7.9%) | 1.17 | 351 |
| 2024-08-01 | $459,000 (14.8%) | $727,195 (22.4%) | 1.14 | 365 |
| 2024-09-01 | $437,500 (9.4%) | $706,141 (14.8%) | 1.11 | 411 |
| 2024-10-01 | $432,000 (1.7%) | $716,961 (11.5%) | 1.11 | 403 |
| 2024-11-01 | $409,900 (-3.5%) | $620,725 (-4.0%) | 1.08 | 365 |
| 2024-12-01 | $404,931 (0.3%) | $598,291 (-5.1%) | 1.10 | 280 |
| 2025-01-01 | $384,450 (-9.0%) | $581,195 (-7.2%) | 0.00 | 277 |
Norwich's median listing price comes in at 0% of the national average.
Norwich's average listing price for 2025-01-01 was $581,195, a difference of $-44,932 (-7.2%) versus the prior year and $-17,096 versus the prior month.
For the 2025-01-01 period, Norwich had 277 MLS listings, a difference of -3 listings (-1%) versus the prior month and -1 listings (0%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Norwich (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 93 days | 1,637 sqft |
| 2018-02-01 | 96 days | 1,627 sqft |
| 2018-03-01 | 73 days | 1,663 sqft |
| 2018-04-01 | 57 days | 1,680 sqft |
| 2018-05-01 | 54 days | 1,679 sqft |
| 2018-06-01 | 60 days | 1,719 sqft |
| 2018-07-01 | 65 days | 1,719 sqft |
| 2018-08-01 | 72 days | 1,699 sqft |
| 2018-09-01 | 74 days | 1,698 sqft |
| 2018-10-01 | 79 days | 1,714 sqft |
| 2018-11-01 | 84 days | 1,715 sqft |
| 2018-12-01 | 96 days | 1,680 sqft |
| 2019-01-01 | 100 days | 1,673 sqft |
| 2019-02-01 | 100 days | 1,663 sqft |
| 2019-03-01 | 81 days | 1,660 sqft |
| 2019-04-01 | 57 days | 1,695 sqft |
| 2019-05-01 | 53 days | 1,762 sqft |
| 2019-06-01 | 58 days | 1,809 sqft |
| 2019-07-01 | 65 days | 1,831 sqft |
| 2019-08-01 | 68 days | 1,845 sqft |
| 2019-09-01 | 69 days | 1,870 sqft |
| 2019-10-01 | 71 days | 1,890 sqft |
| 2019-11-01 | 75 days | 1,854 sqft |
| 2019-12-01 | 90 days | 1,848 sqft |
| 2020-01-01 | 97 days | 1,823 sqft |
| 2020-02-01 | 96 days | 1,800 sqft |
| 2020-03-01 | 62 days | 1,804 sqft |
| 2020-04-01 | 65 days | 1,846 sqft |
| 2020-05-01 | 79 days | 1,851 sqft |
| 2020-06-01 | 62 days | 1,843 sqft |
| 2020-07-01 | 50 days | 1,825 sqft |
| 2020-08-01 | 46 days | 1,875 sqft |
| 2020-09-01 | 37 days | 1,840 sqft |
| 2020-10-01 | 38 days | 1,851 sqft |
| 2020-11-01 | 47 days | 1,851 sqft |
| 2020-12-01 | 59 days | 1,847 sqft |
| 2021-01-01 | 70 days | 1,784 sqft |
| 2021-02-01 | 53 days | 1,774 sqft |
| 2021-03-01 | 33 days | 1,786 sqft |
| 2021-04-01 | 25 days | 1,785 sqft |
| 2021-05-01 | 24 days | 1,783 sqft |
| 2021-06-01 | 27 days | 1,771 sqft |
| 2021-07-01 | 31 days | 1,768 sqft |
| 2021-08-01 | 30 days | 1,676 sqft |
| 2021-09-01 | 39 days | 1,720 sqft |
| 2021-10-01 | 40 days | 1,729 sqft |
| 2021-11-01 | 44 days | 1,687 sqft |
| 2021-12-01 | 54 days | 1,636 sqft |
| 2022-01-01 | 62 days | 1,567 sqft |
| 2022-02-01 | 40 days | 1,600 sqft |
| 2022-03-01 | 31 days | 1,600 sqft |
| 2022-04-01 | 28 days | 1,600 sqft |
| 2022-05-01 | 19 days | 1,753 sqft |
| 2022-06-01 | 24 days | 1,775 sqft |
| 2022-07-01 | 29 days | 1,772 sqft |
| 2022-08-01 | 37 days | 1,858 sqft |
| 2022-09-01 | 46 days | 1,842 sqft |
| 2022-10-01 | 40 days | 1,845 sqft |
| 2022-11-01 | 49 days | 1,861 sqft |
| 2022-12-01 | 63 days | 1,850 sqft |
| 2023-01-01 | 74 days | 1,800 sqft |
| 2023-02-01 | 64 days | 1,874 sqft |
| 2023-03-01 | 44 days | 1,970 sqft |
| 2023-04-01 | 30 days | 1,951 sqft |
| 2023-05-01 | 31 days | 1,903 sqft |
| 2023-06-01 | 32 days | 2,015 sqft |
| 2023-07-01 | 33 days | 2,000 sqft |
| 2023-08-01 | 40 days | 1,854 sqft |
| 2023-09-01 | 43 days | 1,855 sqft |
| 2023-10-01 | 40 days | 1,856 sqft |
| 2023-11-01 | 42 days | 1,838 sqft |
| 2023-12-01 | 52 days | 1,770 sqft |
| 2024-01-01 | 55 days | 1,750 sqft |
| 2024-02-01 | 48 days | 1,750 sqft |
| 2024-03-01 | 37 days | 1,693 sqft |
| 2024-04-01 | 35 days | 1,745 sqft |
| 2024-05-01 | 28 days | 1,791 sqft |
| 2024-06-01 | 30 days | 1,747 sqft |
| 2024-07-01 | 43 days | 1,711 sqft |
| 2024-08-01 | 42 days | 1,721 sqft |
| 2024-09-01 | 39 days | 1,737 sqft |
| 2024-10-01 | 42 days | 1,730 sqft |
| 2024-11-01 | 51 days | 1,654 sqft |
| 2024-12-01 | 56 days | 1,679 sqft |
| 2025-01-01 | 0 days | 1,618 sqft |
Norwich's median square footage for active listings during the 2025-01-01 period was 1,618 sqft. One year prior, the average listing was 1,750 sqft.