Phoenix USDA Loan Rates, Closing Costs & Stats

PHOENIX-MESA-CHANDLER, AZ

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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.

    Phoenix's 61 lenders originated 502 USDA loans during 2021. The total origination value was $167,440,000, with an average USDA loan value of $333,546.

    Phoenix USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Phoenix averaged 6.52% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

    Phoenix's average USDA mortgage closing costs are $5,731.

    The average rate for the prior week (2022-11-25) was 6.86% and one month ago for the week of 2022-10-28, the average rate was 6.93%.

    The average rate one year ago was 3.32%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.13%.

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

    Phoenix 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 Phoenix level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 54 2.81% $5,918
    LOANDEPOT.COM, LLC 23 3.28% $7,457
    NOVA FINANCIAL & INVESTMENT CORPORATION 16 3.09% $3,685
    INSPIRE HOME LOANS INC. 14 3.27% $6,718
    Amerifirst Financial, Inc. 13 2.84% $4,974
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 2.93% $7,143
    V.I.P. MORTGAGE, INC. 10 2.94% $6,541
    CITYWIDE HOME LOANS, LLC 9 3.46% $7,012
    SUNSTREET MORTGAGE, LLC 8 2.75% $5,162
    HOMEAMERICAN MORTGAGE CORPORATION 8 2.61% $3,451
    GUILD MORTGAGE COMPANY 8 2.98% $7,138
    CALIBER HOME LOANS, INC. 7 2.91% $5,618
    FINANCE OF AMERICA MORTGAGE LLC 6 3.33% $7,147
    STARBOARD FINANCIAL MANAGEMENT, LLC 5 3.20% $7,306
    Paramount Residential Mortgage Group, Inc. 5 2.68% $6,747
    UNITED WHOLESALE MORTGAGE, LLC 4 2.88% $7,546
    CMG MORTGAGE, INC. 4 3.09% $7,173
    Loan Simple, Inc. 3 2.79% $6,135
    LEADERONE FINANCIAL CORPORATION 3 2.88% $4,182
    HOME POINT FINANCIAL CORPORATION 3 2.75% $6,416
    Waterstone Mortgage Corporation 3 2.50% $6,904
    SUN AMERICAN MORTGAGE COMPANY 2 2.75% $5,421
    Carrington Mortgage Services, LLC 2 3.50% $4,903
    First Guaranty Mortgage Corporation 2 2.88% $8,585
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.00% $8,651
    HOMEOWNERS FINANCIAL GROUP USA, LLC 2 2.75% $6,917
    LAKEVIEW LOAN SERVICING, LLC 2 2.75% $3,820
    Lend Smart Mortgage, LLC 2 3.56% $7,958
    LHM FINANCIAL CORPORATION 2 2.75% $5,854
    MICHIGAN MUTUAL, INC. 2 3.00% $3,875
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.69% $7,695
    ACADEMY MORTGAGE CORPORATION 2 3.50% $7,734
    Wallick & Volk, Inc. 2 3.13% $11,438
    ENVOY MORTGAGE, LTD 1 3.13% $9,365
    TOWNE MORTGAGE COMPANY 1 2.75% $7,122
    UNION HOME MORTGAGE CORP. 1 2.75% $6,098
    CROSSCOUNTRY MORTGAGE, LLC 1 3.63% $8,106
    CORNERSTONE HOME LENDING, INC. 1 2.75% $14,108
    AMERICAN FINANCIAL RESOURCES, INC. 1 3.63% $5,451
    MORIA DEVELOPMENT, INC. 1 3.88% $5,249
    MOUNTAIN WEST FINANCIAL, INC. 1 3.13% $5,065
    NATIONS DIRECT MORTGAGE, LLC 1 3.25% $6,221
    Neighborhood Loans, Inc. 1 2.75% $7,136
    Colten Mortgage, LLC 1 2.63% $4,272
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.75% $10,147
    PENNYMAC LOAN SERVICES, LLC 1 2.75% $5,548
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 3.63% $5,997
    AMERICAN FINANCIAL NETWORK, INC. 1 3.00% $6,718
    PULTE MORTGAGE LLC 1 3.00% $3,088
    SECURITYNATIONAL MORTGAGE COMPANY 1 3.00% $8,590
    BNC National Bank 1 3.25% $4,371
    STEARNS LENDING, LLC 1 2.88% $6,815
    GUARANTEED RATE, INC. 1 2.50% $7,396
    GENEVA FINANCIAL, LLC 1 2.63% $6,101
    SUMMIT FUNDING, INC. 1 2.88% $9,264
    ALTITUDE FINANCIAL CORPORATION 1 2.75% $4,328
    FISHER FINANCIAL GROUP, INCORPORATED 1 2.88% $4,832
    Hometown Lenders, Inc. 1 3.00% $8,563
    FBC MORTGAGE, LLC 1 2.75% $5,476
    KBHS HOME LOANS, LLC 1 3.25% $6,758
    Austin Capital Bank SSB 1 3.00% $6,495

    The top Phoenix USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 54 USDA loans originated. Their average total fees are $5,918, which is $1,538 lower than the next largest lender, LOANDEPOT.COM, LLC.

    The lowest fee Phoenix USDA lenders (with over 10 loans originated) are NOVA FINANCIAL & INVESTMENT CORPORATION ($3,685), Amerifirst Financial, Inc. ($4,974), DHI MORTGAGE COMPANY, LTD. ($5,918), V.I.P. MORTGAGE, INC. ($6,541) and INSPIRE HOME LOANS INC. ($6,718).

    The lowest rate Phoenix USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (2.81%), Amerifirst Financial, Inc. (2.84%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (2.93%), V.I.P. MORTGAGE, INC. (2.94%) and NOVA FINANCIAL & INVESTMENT CORPORATION (3.09%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Phoenix (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 $339,700 (6.2%) $582,422 (9.2%) 1.26 16,044
    2018-02-01 $349,950 (7.0%) $596,504 (9.1%) 1.27 15,908
    2018-03-01 $364,900 (8.3%) $614,556 (9.8%) 1.28 15,665
    2018-04-01 $364,900 (5.0%) $615,538 (7.8%) 1.24 15,592
    2018-05-01 $364,450 (4.5%) $606,922 (6.8%) 1.22 15,057
    2018-06-01 $359,000 (5.6%) $589,359 (5.6%) 1.20 14,605
    2018-07-01 $349,900 (4.5%) $562,454 (4.7%) 1.17 14,198
    2018-08-01 $344,750 (4.5%) $549,464 (4.1%) 1.15 14,589
    2018-09-01 $345,000 (4.6%) $548,239 (3.2%) 1.16 14,746
    2018-10-01 $340,099 (3.1%) $552,532 (2.2%) 1.15 16,149
    2018-11-01 $342,125 (3.7%) $568,884 (3.1%) 1.16 16,973
    2018-12-01 $344,828 (3.0%) $575,188 (1.1%) 1.19 16,744
    2019-01-01 $347,919 (2.4%) $582,791 (0.1%) 1.20 17,305
    2019-02-01 $349,900 (0.0%) $587,164 (-1.6%) 1.18 17,885
    2019-03-01 $361,329 (-1.0%) $601,668 (-2.1%) 1.18 17,419
    2019-04-01 $371,300 (1.8%) $614,863 (-0.1%) 1.18 16,872
    2019-05-01 $374,450 (2.7%) $617,709 (1.8%) 1.17 15,948
    2019-06-01 $380,000 (5.9%) $626,092 (6.2%) 1.19 14,650
    2019-07-01 $382,450 (9.3%) $624,057 (11.0%) 1.20 13,257
    2019-08-01 $384,455 (11.5%) $627,264 (14.2%) 1.22 12,706
    2019-09-01 $383,636 (11.2%) $630,829 (15.1%) 1.23 12,881
    2019-10-01 $383,091 (12.6%) $636,936 (15.3%) 1.24 13,062
    2019-11-01 $383,000 (12.0%) $642,782 (13.0%) 1.26 13,034
    2019-12-01 $379,950 (10.2%) $659,244 (14.6%) 1.27 11,954
    2020-01-01 $391,900 (12.6%) $680,503 (16.8%) 1.31 11,261
    2020-02-01 $399,900 (14.3%) $696,639 (18.6%) 1.31 10,405
    2020-03-01 $404,225 (11.9%) $697,905 (16.0%) 1.27 10,176
    2020-04-01 $375,000 (1.0%) $621,044 (1.0%) 1.17 12,704
    2020-05-01 $385,000 (2.8%) $642,737 (4.1%) 1.17 11,904
    2020-06-01 $430,000 (13.2%) $746,309 (19.2%) 1.27 8,844
    2020-07-01 $446,220 (16.7%) $782,120 (25.3%) 1.29 7,437
    2020-08-01 $440,900 (14.7%) $774,100 (23.4%) 1.26 7,211
    2020-09-01 $435,000 (13.4%) $772,044 (22.4%) 1.25 7,397
    2020-10-01 $434,900 (13.5%) $770,447 (21.0%) 1.25 7,680
    2020-11-01 $417,000 (8.9%) $745,576 (16.0%) 1.22 7,266
    2020-12-01 $407,500 (7.3%) $734,754 (11.5%) 1.21 6,031
    2021-01-01 $414,000 (5.6%) $771,249 (13.3%) 1.24 5,004
    2021-02-01 $410,000 (2.5%) $797,526 (14.5%) 1.19 4,066
    2021-03-01 $419,950 (3.9%) $797,696 (14.3%) 1.19 3,967
    2021-04-01 $427,500 (14.0%) $804,813 (29.6%) 1.16 4,206
    2021-05-01 $450,000 (16.9%) $815,262 (26.8%) 1.19 4,323
    2021-06-01 $457,500 (6.4%) $799,592 (7.1%) 1.20 4,920
    2021-07-01 $474,995 (6.5%) $771,542 (-1.4%) 1.25 5,666
    2021-08-01 $475,000 (7.7%) $752,457 (-2.8%) 1.27 6,058
    2021-09-01 $472,500 (8.6%) $746,169 (-3.4%) 1.26 6,278
    2021-10-01 $481,000 (10.6%) $753,066 (-2.3%) 1.28 6,506
    2021-11-01 $482,450 (15.7%) $764,230 (2.5%) 1.29 6,302
    2021-12-01 $486,031 (19.3%) $782,459 (6.5%) 1.32 5,619
    2022-01-01 $498,013 (20.3%) $814,074 (5.6%) 1.35 4,688
    2022-02-01 $499,900 (21.9%) $854,885 (7.2%) 1.30 4,096
    2022-03-01 $499,950 (19.1%) $861,731 (8.0%) 1.25 4,077
    2022-04-01 $525,000 (22.8%) $875,135 (8.7%) 1.25 4,638
    2022-05-01 $549,250 (22.1%) $855,021 (4.9%) 1.26 7,169
    2022-06-01 $547,500 (19.7%) $817,245 (2.2%) 1.22 10,285
    2022-07-01 $525,000 (10.5%) $746,108 (-3.3%) 1.19 14,344
    2022-08-01 $499,950 (5.3%) $709,361 (-5.7%) 1.16 16,417
    2022-09-01 $493,500 (4.4%) $700,074 (-6.2%) 1.16 16,779
    2022-10-01 $485,000 (0.8%) $709,304 (-5.8%) 1.14 17,818
    2022-11-01 $477,000 (-1.1%) $716,494 (-6.3%) 1.15 17,392
    Phoenix's median listing price for 2022-11-01 was $477,000, a difference of $-5,450 (-1.1%) versus the prior year and $-8,000 versus the prior month.

    Phoenix's median listing price comes in at 115% of the national average.

    Phoenix's average listing price for 2022-11-01 was $716,494, a difference of $-47,736 (-6.3%) versus the prior year and $7,190 versus the prior month.

    For the 2022-11-01 period, Phoenix had 17,392 MLS listings, a difference of -426 listings (-2%) versus the prior month and 11,090 listings (176%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Phoenix (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 62 days 2,154 sqft
    2018-02-01 48 days 2,190 sqft
    2018-03-01 45 days 2,247 sqft
    2018-04-01 44 days 2,243 sqft
    2018-05-01 44 days 2,245 sqft
    2018-06-01 46 days 2,218 sqft
    2018-07-01 48 days 2,180 sqft
    2018-08-01 48 days 2,160 sqft
    2018-09-01 46 days 2,154 sqft
    2018-10-01 44 days 2,137 sqft
    2018-11-01 45 days 2,137 sqft
    2018-12-01 54 days 2,128 sqft
    2019-01-01 61 days 2,122 sqft
    2019-02-01 50 days 2,132 sqft
    2019-03-01 46 days 2,171 sqft
    2019-04-01 46 days 2,210 sqft
    2019-05-01 48 days 2,214 sqft
    2019-06-01 50 days 2,237 sqft
    2019-07-01 53 days 2,253 sqft
    2019-08-01 50 days 2,250 sqft
    2019-09-01 44 days 2,242 sqft
    2019-10-01 41 days 2,235 sqft
    2019-11-01 45 days 2,214 sqft
    2019-12-01 54 days 2,201 sqft
    2020-01-01 59 days 2,205 sqft
    2020-02-01 46 days 2,216 sqft
    2020-03-01 42 days 2,200 sqft
    2020-04-01 38 days 2,100 sqft
    2020-05-01 50 days 2,120 sqft
    2020-06-01 55 days 2,218 sqft
    2020-07-01 44 days 2,206 sqft
    2020-08-01 32 days 2,162 sqft
    2020-09-01 29 days 2,130 sqft
    2020-10-01 29 days 2,113 sqft
    2020-11-01 38 days 2,029 sqft
    2020-12-01 42 days 1,993 sqft
    2021-01-01 43 days 1,997 sqft
    2021-02-01 34 days 1,983 sqft
    2021-03-01 30 days 1,980 sqft
    2021-04-01 28 days 1,973 sqft
    2021-05-01 28 days 1,994 sqft
    2021-06-01 27 days 1,988 sqft
    2021-07-01 27 days 1,990 sqft
    2021-08-01 28 days 2,005 sqft
    2021-09-01 30 days 1,988 sqft
    2021-10-01 30 days 2,002 sqft
    2021-11-01 33 days 2,002 sqft
    2021-12-01 36 days 1,994 sqft
    2022-01-01 38 days 1,990 sqft
    2022-02-01 28 days 1,981 sqft
    2022-03-01 29 days 1,942 sqft
    2022-04-01 25 days 1,963 sqft
    2022-05-01 22 days 1,977 sqft
    2022-06-01 24 days 1,973 sqft
    2022-07-01 31 days 1,942 sqft
    2022-08-01 38 days 1,915 sqft
    2022-09-01 47 days 1,905 sqft
    2022-10-01 51 days 1,907 sqft
    2022-11-01 58 days 1,910 sqft
    Phoenix's median listing age (time on market) for 2022-11-01 was 58 days. This is 76% longer than the same period one year ago.

    Phoenix's median square footage for active listings during the 2022-11-01 period was 1,910 sqft. One year prior, the average listing was 2,002 sqft.