Poughkeepsie USDA Loan Rates, Closing Costs & Stats

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY

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.

Poughkeepsie's 10 lenders originated 25 USDA loans during 2021. The total origination value was $7,265,000, with an average USDA loan value of $290,600.

Poughkeepsie USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Poughkeepsie averaged 6.33% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Poughkeepsie's average USDA mortgage closing costs are $6,584.

The average rate for the prior week (2022-11-25) was 6.77% and one month ago for the week of 2022-10-28, the average rate was 6.94%.

The average rate one year ago was 3.43%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.45%.

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

Poughkeepsie 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 Poughkeepsie level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
PLAZA HOME MORTGAGE, INC. 7 3.13% $9,288
HOMESTEAD FUNDING CORP. 6 3.04% $5,239
HOME POINT FINANCIAL CORPORATION 2 2.75% $10,973
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.13% $7,394
RESIDENTIAL HOME FUNDING CORP. 2 3.06% $8,355
MOVEMENT MORTGAGE, LLC 1 2.75% $6,133
Carrington Mortgage Services, LLC 1 3.13% $15,351
FREEDOM MORTGAGE CORPORATION 1 2.88% $11,065
Bank of England 1 3.13% $8,826
NEWREZ LLC 1 2.50% $7,972

The top Poughkeepsie USDA lender as defined by loan originations is PLAZA HOME MORTGAGE, INC., with 7 USDA loans originated. Their average total fees are $9,288, which is $4,049 higher than the next largest lender, HOMESTEAD FUNDING CORP..

The lowest fee Poughkeepsie USDA lenders (with over 10 loans originated) are .

The lowest rate Poughkeepsie USDA lenders (with over 10 loans originated) are .