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 39 lenders originated 117 USDA loans during 2023. The total origination value was $33,515,000, with an average USDA loan value of $286,453.

    Phoenix USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Phoenix averaged -0.39% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    Phoenix's average USDA mortgage closing costs are $6,373.

    The average rate for the prior week (2024-11-08) was 5.96% and one month ago for the week of 2024-10-11, the average rate was 6.02%.

    The average rate one year ago was 6.95%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 16 5.26% $8,700
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 6.45% $10,270
    UNITED WHOLESALE MORTGAGE, LLC 10 5.86% $11,584
    Paramount Residential Mortgage Group, Inc. 7 6.05% $7,069
    AMERICAN PACIFIC MORTGAGE CORPORATION 6 6.19% $12,529
    Sierra Pacific Mortgage Company, Inc. 4 5.50% $10,331
    NOVA FINANCIAL & INVESTMENT CORPORATION 4 6.06% $8,311
    GENEVA FINANCIAL, LLC 4 6.25% $15,789
    ACADEMY MORTGAGE CORPORATION 3 6.54% $11,063
    CORNERSTONE HOME LENDING, INC. 3 6.25% $6,474
    CROSSCOUNTRY MORTGAGE, LLC 3 6.79% $10,719
    EAGLE HOME MORTGAGE, LLC 3 4.83% $8,368
    GUILD MORTGAGE COMPANY 3 5.71% $11,281
    V.I.P. MORTGAGE, INC. 3 6.46% $10,967
    GUARANTEED RATE AFFINITY, LLC 2 6.18% $6,945
    Loan Simple, Inc. 2 5.81% $12,447
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.88% $17,453
    CARDINAL FINANCIAL 2 6.06% $10,733
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 5.63% $10,113
    Century Mortgage Company DBA Century Lending Company 2 6.00% $9,292
    ALTITUDE FINANCIAL CORPORATION 2 6.56% $2,761
    INTERLINC MORTGAGE SERVICES, LLC 2 6.25% $4,555
    Carrington Mortgage Services, LLC 2 6.56% $14,430
    KBHS HOME LOANS, LLC 2 5.56% $12,533
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $8,094
    AMERICAN FINANCIAL NETWORK, INC. 1 6.13% $6,248
    UNION HOME MORTGAGE CORP. 1 6.63% $10,327
    VAN DYK MORTGAGE CORPORATION 1 6.75% $9,826
    Equity Prime Mortgage LLC 1 6.25% $7,952
    Waterstone Mortgage Corporation 1 7.13% $5,058
    CALCON MUTUAL MORTGAGE LLC 1 7.25% $11,640
    Wallick & Volk, Inc. 1 5.50% $8,124
    Hometown Equity Mortgage, LLC 1 5.75% $18,099
    LOANDEPOT.COM, LLC 1 7.25% $10,231
    NEST HOME LENDING, LLC 1 5.75% $8,278
    Bell Bank 1 6.25% $7,915
    ON Q FINANCIAL, INC. 1 5.99% $9,267
    Bank of England 1 6.25% $10,395
    Plains Commerce Bank 1 6.00% $8,300

    The top Phoenix USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 16 USDA loans originated. Their average total fees are $8,700, which is $1,570 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Phoenix USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($8,700), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($10,270), UNITED WHOLESALE MORTGAGE, LLC ($11,584), .

    The lowest rate Phoenix USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.26%), UNITED WHOLESALE MORTGAGE, LLC (5.86%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.45%), .

    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%) $582,121 (9.1%) 1.26 16,040
    2018-02-01 $349,950 (7.0%) $596,230 (9.1%) 1.27 15,903
    2018-03-01 $364,900 (8.3%) $614,257 (9.8%) 1.28 15,660
    2018-04-01 $364,900 (5.0%) $615,185 (7.8%) 1.24 15,588
    2018-05-01 $364,450 (4.4%) $606,681 (6.8%) 1.22 15,053
    2018-06-01 $359,000 (5.6%) $589,104 (5.6%) 1.20 14,601
    2018-07-01 $349,900 (4.5%) $562,151 (4.7%) 1.17 14,196
    2018-08-01 $344,750 (4.5%) $549,091 (4.1%) 1.15 14,585
    2018-09-01 $345,000 (4.6%) $548,169 (3.3%) 1.16 14,741
    2018-10-01 $340,099 (3.1%) $552,484 (2.3%) 1.15 16,146
    2018-11-01 $342,200 (3.7%) $568,839 (3.2%) 1.16 16,970
    2018-12-01 $344,828 (3.0%) $575,150 (1.1%) 1.19 16,741
    2019-01-01 $347,945 (2.4%) $582,810 (0.1%) 1.20 17,303
    2019-02-01 $349,900 (0.0%) $587,222 (-1.5%) 1.18 17,882
    2019-03-01 $361,329 (-1.0%) $601,751 (-2.0%) 1.18 17,409
    2019-04-01 $371,350 (1.8%) $615,009 (0.0%) 1.18 16,852
    2019-05-01 $374,600 (2.8%) $618,035 (1.9%) 1.17 15,913
    2019-06-01 $380,000 (5.9%) $626,550 (6.4%) 1.19 14,610
    2019-07-01 $382,536 (9.3%) $624,785 (11.1%) 1.20 13,215
    2019-08-01 $384,727 (11.6%) $628,020 (14.4%) 1.22 12,659
    2019-09-01 $384,318 (11.4%) $631,551 (15.2%) 1.23 12,832
    2019-10-01 $384,045 (12.9%) $637,627 (15.4%) 1.24 13,012
    2019-11-01 $383,995 (12.2%) $643,327 (13.1%) 1.26 12,980
    2019-12-01 $379,990 (10.2%) $659,922 (14.7%) 1.27 11,902
    2020-01-01 $392,311 (12.8%) $681,225 (16.9%) 1.31 11,211
    2020-02-01 $399,900 (14.3%) $697,431 (18.8%) 1.31 10,356
    2020-03-01 $404,264 (11.9%) $698,688 (16.1%) 1.27 10,126
    2020-04-01 $375,000 (1.0%) $621,453 (1.1%) 1.17 12,654
    2020-05-01 $385,000 (2.8%) $643,224 (4.1%) 1.17 11,855
    2020-06-01 $430,250 (13.2%) $747,605 (19.3%) 1.27 8,794
    2020-07-01 $448,995 (17.4%) $784,016 (25.5%) 1.30 7,386
    2020-08-01 $444,000 (15.4%) $775,732 (23.5%) 1.27 7,165
    2020-09-01 $436,304 (13.5%) $773,557 (22.5%) 1.25 7,350
    2020-10-01 $435,000 (13.3%) $771,889 (21.1%) 1.25 7,633
    2020-11-01 $417,000 (8.6%) $746,886 (16.1%) 1.22 7,216
    2020-12-01 $408,500 (7.5%) $736,213 (11.6%) 1.21 5,980
    2021-01-01 $414,970 (5.8%) $773,410 (13.5%) 1.24 4,955
    2021-02-01 $412,950 (3.3%) $800,100 (14.7%) 1.20 4,019
    2021-03-01 $420,000 (3.9%) $800,154 (14.5%) 1.19 3,916
    2021-04-01 $427,995 (14.1%) $807,094 (29.9%) 1.16 4,156
    2021-05-01 $450,000 (16.9%) $817,309 (27.1%) 1.20 4,275
    2021-06-01 $460,000 (6.9%) $801,961 (7.3%) 1.21 4,872
    2021-07-01 $475,000 (5.8%) $773,132 (-1.4%) 1.25 5,623
    2021-08-01 $475,000 (7.0%) $753,806 (-2.8%) 1.27 6,017
    2021-09-01 $476,950 (9.3%) $747,219 (-3.4%) 1.27 6,236
    2021-10-01 $484,993 (11.5%) $754,445 (-2.3%) 1.29 6,462
    2021-11-01 $482,495 (15.7%) $765,486 (2.5%) 1.29 6,256
    2021-12-01 $487,000 (19.2%) $783,838 (6.5%) 1.32 5,573
    2022-01-01 $499,000 (20.3%) $815,920 (5.5%) 1.35 4,645
    2022-02-01 $499,950 (21.1%) $857,432 (7.2%) 1.30 4,050
    2022-03-01 $500,950 (19.3%) $864,079 (8.0%) 1.25 4,029
    2022-04-01 $525,000 (22.7%) $877,482 (8.7%) 1.25 4,590
    2022-05-01 $549,450 (22.1%) $856,587 (4.8%) 1.26 7,121
    2022-06-01 $547,500 (19.0%) $818,345 (2.0%) 1.22 10,236
    2022-07-01 $525,000 (10.5%) $746,534 (-3.4%) 1.18 14,297
    2022-08-01 $499,950 (5.3%) $709,896 (-5.8%) 1.16 16,371
    2022-09-01 $494,475 (3.7%) $700,561 (-6.2%) 1.16 16,733
    2022-10-01 $485,000 (0.0%) $709,726 (-5.9%) 1.14 17,772
    2022-11-01 $477,000 (-1.1%) $717,207 (-6.3%) 1.15 17,345
    2022-12-01 $474,900 (-2.5%) $721,974 (-7.9%) 1.17 14,790
    2023-01-01 $479,495 (-3.9%) $758,362 (-7.1%) 1.19 13,487
    2023-02-01 $487,000 (-2.6%) $807,832 (-5.8%) 1.18 12,499
    2023-03-01 $499,363 (-0.3%) $845,639 (-2.1%) 1.18 11,470
    2023-04-01 $516,006 (-1.7%) $884,740 (0.8%) 1.20 10,164
    2023-05-01 $529,447 (-3.6%) $916,513 (7.0%) 1.20 9,166
    2023-06-01 $539,945 (-1.4%) $928,389 (13.5%) 1.21 8,598
    2023-07-01 $539,900 (2.8%) $892,899 (19.6%) 1.23 8,231
    2023-08-01 $537,900 (7.6%) $882,775 (24.4%) 1.24 8,700
    2023-09-01 $532,000 (7.6%) $867,398 (23.8%) 1.24 9,317
    2023-10-01 $529,759 (9.2%) $874,104 (23.2%) 1.25 10,798
    2023-11-01 $522,450 (9.5%) $871,475 (21.5%) 1.24 12,000
    2023-12-01 $526,725 (10.9%) $885,567 (22.7%) 1.28 11,355
    2024-01-01 $535,000 (11.6%) $932,383 (23.0%) 1.31 11,429
    2024-02-01 $539,995 (10.9%) $979,418 (21.2%) 1.30 11,947
    2024-03-01 $534,990 (7.1%) $948,151 (12.1%) 1.26 13,407
    2024-04-01 $537,000 (4.1%) $941,631 (6.4%) 1.25 14,984
    2024-05-01 $545,000 (2.9%) $948,122 (3.5%) 1.23 16,526
    2024-06-01 $539,900 (0.0%) $912,670 (-1.7%) 1.21 13,437
    2024-07-01 $525,000 (-2.8%) $837,472 (-6.2%) 1.20 13,226
    2024-08-01 $515,000 (-4.3%) $801,836 (-9.2%) 1.20 13,073
    2024-09-01 $519,850 (-2.3%) $819,191 (-5.6%) 1.22 13,867
    2024-10-01 $519,950 (-1.9%) $826,909 (-5.4%) 1.22 15,298
    Phoenix's median listing price for 2024-10-01 was $519,950, a difference of $-9,809 (-1.9%) versus the prior year and $100 versus the prior month.

    Phoenix's median listing price comes in at 122% of the national average.

    Phoenix's average listing price for 2024-10-01 was $826,909, a difference of $-47,195 (-5.4%) versus the prior year and $7,718 versus the prior month.

    For the 2024-10-01 period, Phoenix had 15,298 MLS listings, a difference of 1,431 listings (10%) versus the prior month and 4,500 listings (42%) 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 59 days 2,154 sqft
    2018-02-01 44 days 2,190 sqft
    2018-03-01 43 days 2,247 sqft
    2018-04-01 43 days 2,243 sqft
    2018-05-01 43 days 2,245 sqft
    2018-06-01 44 days 2,218 sqft
    2018-07-01 45 days 2,180 sqft
    2018-08-01 46 days 2,160 sqft
    2018-09-01 44 days 2,154 sqft
    2018-10-01 43 days 2,137 sqft
    2018-11-01 44 days 2,137 sqft
    2018-12-01 52 days 2,128 sqft
    2019-01-01 59 days 2,122 sqft
    2019-02-01 47 days 2,132 sqft
    2019-03-01 44 days 2,172 sqft
    2019-04-01 44 days 2,210 sqft
    2019-05-01 46 days 2,214 sqft
    2019-06-01 49 days 2,237 sqft
    2019-07-01 51 days 2,254 sqft
    2019-08-01 48 days 2,251 sqft
    2019-09-01 43 days 2,243 sqft
    2019-10-01 39 days 2,236 sqft
    2019-11-01 44 days 2,215 sqft
    2019-12-01 51 days 2,202 sqft
    2020-01-01 57 days 2,205 sqft
    2020-02-01 44 days 2,216 sqft
    2020-03-01 40 days 2,202 sqft
    2020-04-01 36 days 2,100 sqft
    2020-05-01 49 days 2,119 sqft
    2020-06-01 51 days 2,221 sqft
    2020-07-01 41 days 2,208 sqft
    2020-08-01 30 days 2,164 sqft
    2020-09-01 27 days 2,131 sqft
    2020-10-01 28 days 2,113 sqft
    2020-11-01 37 days 2,028 sqft
    2020-12-01 40 days 1,992 sqft
    2021-01-01 42 days 1,997 sqft
    2021-02-01 34 days 1,982 sqft
    2021-03-01 29 days 1,978 sqft
    2021-04-01 27 days 1,972 sqft
    2021-05-01 27 days 1,993 sqft
    2021-06-01 26 days 1,986 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 1,993 sqft
    2022-01-01 37 days 1,990 sqft
    2022-02-01 28 days 1,980 sqft
    2022-03-01 28 days 1,940 sqft
    2022-04-01 24 days 1,963 sqft
    2022-05-01 22 days 1,977 sqft
    2022-06-01 24 days 1,972 sqft
    2022-07-01 30 days 1,942 sqft
    2022-08-01 37 days 1,915 sqft
    2022-09-01 46 days 1,904 sqft
    2022-10-01 51 days 1,908 sqft
    2022-11-01 58 days 1,910 sqft
    2022-12-01 69 days 1,898 sqft
    2023-01-01 74 days 1,918 sqft
    2023-02-01 60 days 1,940 sqft
    2023-03-01 50 days 1,976 sqft
    2023-04-01 50 days 2,010 sqft
    2023-05-01 45 days 2,033 sqft
    2023-06-01 44 days 2,050 sqft
    2023-07-01 45 days 2,039 sqft
    2023-08-01 45 days 2,034 sqft
    2023-09-01 39 days 2,020 sqft
    2023-10-01 37 days 2,010 sqft
    2023-11-01 40 days 1,984 sqft
    2023-12-01 53 days 2,027 sqft
    2024-01-01 60 days 2,041 sqft
    2024-02-01 45 days 2,047 sqft
    2024-03-01 49 days 2,031 sqft
    2024-04-01 55 days 2,036 sqft
    2024-05-01 61 days 2,053 sqft
    2024-06-01 53 days 2,044 sqft
    2024-07-01 54 days 2,001 sqft
    2024-08-01 57 days 1,982 sqft
    2024-09-01 56 days 1,991 sqft
    2024-10-01 50 days 1,971 sqft
    Phoenix's median listing age (time on market) for 2024-10-01 was 50 days. This is 35% longer than the same period one year ago.

    Phoenix's median square footage for active listings during the 2024-10-01 period was 1,971 sqft. One year prior, the average listing was 2,010 sqft.