Provo USDA Loan Rates, Closing Costs & Stats
PROVO-OREM, UT
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.
Provo's 13 lenders originated 41 USDA loans during 2023. The total origination value was $14,805,000, with an average USDA loan value of $361,098.
Provo USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Provo
averaged
6.54%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Provo's average USDA mortgage closing costs are $7,022.
The average rate for the prior week (2024-04-12) was
6.59% and
one month ago for the week of 2024-03-15, the
average rate was 6.28%.
The average rate one year ago was 5.82%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.93%.
Provo 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 Provo level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| DHI MORTGAGE COMPANY, LTD. | 11 | 5.62% | $6,481 |
| FIRST COLONY MORTGAGE CORPORATION | 7 | 5.57% | $4,529 |
| UNITED WHOLESALE MORTGAGE, LLC | 7 | 5.28% | $12,193 |
| NEWREZ LLC | 4 | 6.09% | $12,103 |
| AXIA FINANCIAL, LLC | 2 | 5.06% | $19,014 |
| Century Mortgage Company DBA Century Lending Company | 2 | 5.06% | $15,668 |
| Sierra Pacific Mortgage Company, Inc. | 2 | 5.50% | $8,240 |
| GUARANTEED RATE, INC. | 1 | 6.63% | $13,224 |
| LOANDEPOT.COM, LLC | 1 | 5.88% | $14,800 |
| CITY FIRST MORTGAGE SERVICES, L.L.C. | 1 | 6.13% | $13,280 |
| UTAH COMMUNITY | 1 | 5.25% | $12,329 |
| CANOPY MORTGAGE, LLC | 1 | 5.99% | $16,963 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 6.25% | $16,891 |
The top Provo USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with
11 USDA loans originated. Their average total fees are
$6,481, which is $1,953
higher than the next largest lender,
FIRST COLONY MORTGAGE CORPORATION.
The lowest fee Provo USDA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($6,481), .
The lowest rate Provo USDA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.62%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Provo (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 | $370,411 (7.6%) | $523,530 (5.2%) | 1.37 | 1,467 |
| 2018-02-01 | $383,425 (8.8%) | $532,133 (4.0%) | 1.39 | 1,406 |
| 2018-03-01 | $393,000 (7.7%) | $541,100 (2.5%) | 1.38 | 1,402 |
| 2018-04-01 | $395,090 (5.4%) | $549,307 (2.3%) | 1.34 | 1,512 |
| 2018-05-01 | $398,950 (7.9%) | $545,852 (2.1%) | 1.33 | 1,678 |
| 2018-06-01 | $399,810 (6.9%) | $534,017 (0.5%) | 1.33 | 1,911 |
| 2018-07-01 | $398,900 (7.5%) | $532,606 (3.4%) | 1.33 | 1,923 |
| 2018-08-01 | $398,238 (10.1%) | $529,346 (5.4%) | 1.33 | 2,006 |
| 2018-09-01 | $389,950 (6.9%) | $520,414 (5.6%) | 1.31 | 2,091 |
| 2018-10-01 | $387,055 (6.1%) | $505,724 (0.8%) | 1.31 | 2,291 |
| 2018-11-01 | $380,975 (3.6%) | $499,779 (-2.6%) | 1.29 | 2,321 |
| 2018-12-01 | $379,900 (3.0%) | $494,576 (-4.2%) | 1.31 | 2,218 |
| 2019-01-01 | $381,400 (3.0%) | $481,203 (-8.1%) | 1.32 | 2,056 |
| 2019-02-01 | $387,089 (1.0%) | $477,634 (-10.2%) | 1.31 | 2,028 |
| 2019-03-01 | $395,843 (0.7%) | $493,139 (-8.9%) | 1.29 | 2,052 |
| 2019-04-01 | $401,343 (1.6%) | $513,318 (-6.6%) | 1.27 | 2,101 |
| 2019-05-01 | $399,000 (0.0%) | $517,419 (-5.2%) | 1.25 | 2,181 |
| 2019-06-01 | $399,990 (0.1%) | $526,718 (-1.4%) | 1.25 | 2,278 |
| 2019-07-01 | $407,220 (2.1%) | $532,661 (0.0%) | 1.27 | 2,311 |
| 2019-08-01 | $405,027 (1.7%) | $527,571 (-0.3%) | 1.28 | 2,305 |
| 2019-09-01 | $402,143 (3.1%) | $521,785 (0.3%) | 1.29 | 2,285 |
| 2019-10-01 | $397,875 (2.8%) | $512,963 (1.4%) | 1.28 | 2,272 |
| 2019-11-01 | $395,155 (3.7%) | $514,908 (3.0%) | 1.30 | 2,009 |
| 2019-12-01 | $399,797 (5.2%) | $526,964 (6.6%) | 1.33 | 1,792 |
| 2020-01-01 | $409,106 (7.3%) | $526,596 (9.4%) | 1.37 | 1,634 |
| 2020-02-01 | $429,000 (10.8%) | $549,361 (15.0%) | 1.40 | 1,401 |
| 2020-03-01 | $430,925 (8.9%) | $560,647 (13.7%) | 1.35 | 1,449 |
| 2020-04-01 | $416,468 (3.8%) | $510,586 (-0.5%) | 1.30 | 1,834 |
| 2020-05-01 | $426,990 (7.0%) | $545,307 (5.4%) | 1.30 | 1,726 |
| 2020-06-01 | $438,710 (9.7%) | $583,858 (10.9%) | 1.29 | 1,421 |
| 2020-07-01 | $453,433 (11.4%) | $607,531 (14.1%) | 1.31 | 1,176 |
| 2020-08-01 | $470,495 (16.2%) | $665,741 (26.2%) | 1.35 | 1,015 |
| 2020-09-01 | $495,490 (23.2%) | $703,359 (34.8%) | 1.42 | 871 |
| 2020-10-01 | $504,995 (26.9%) | $814,567 (58.8%) | 1.45 | 708 |
| 2020-11-01 | $522,475 (32.2%) | $898,995 (74.6%) | 1.53 | 581 |
| 2020-12-01 | $545,745 (36.5%) | $917,466 (74.1%) | 1.62 | 500 |
| 2021-01-01 | $534,444 (30.6%) | $978,869 (85.9%) | 1.60 | 404 |
| 2021-02-01 | $529,950 (23.5%) | $1,085,859 (97.7%) | 1.54 | 310 |
| 2021-03-01 | $510,425 (18.5%) | $1,025,177 (82.9%) | 1.45 | 357 |
| 2021-04-01 | $541,750 (30.1%) | $1,015,124 (98.8%) | 1.47 | 436 |
| 2021-05-01 | $550,000 (28.8%) | $957,815 (75.7%) | 1.46 | 550 |
| 2021-06-01 | $547,450 (24.8%) | $887,914 (52.1%) | 1.44 | 712 |
| 2021-07-01 | $544,950 (20.2%) | $839,987 (38.3%) | 1.44 | 851 |
| 2021-08-01 | $550,575 (17.0%) | $855,893 (28.6%) | 1.47 | 879 |
| 2021-09-01 | $537,119 (8.4%) | $838,551 (19.2%) | 1.43 | 913 |
| 2021-10-01 | $539,900 (6.9%) | $861,239 (5.7%) | 1.44 | 847 |
| 2021-11-01 | $546,950 (4.7%) | $891,802 (-0.8%) | 1.46 | 753 |
| 2021-12-01 | $559,675 (2.6%) | $953,207 (3.9%) | 1.52 | 582 |
| 2022-01-01 | $559,450 (4.7%) | $943,434 (-3.6%) | 1.51 | 469 |
| 2022-02-01 | $590,000 (11.3%) | $1,014,800 (-6.5%) | 1.53 | 428 |
| 2022-03-01 | $592,238 (16.0%) | $964,803 (-5.9%) | 1.48 | 462 |
| 2022-04-01 | $619,000 (14.3%) | $968,049 (-4.6%) | 1.48 | 678 |
| 2022-05-01 | $617,400 (12.3%) | $855,307 (-10.7%) | 1.41 | 1,232 |
| 2022-06-01 | $608,789 (11.2%) | $824,474 (-7.1%) | 1.36 | 1,700 |
| 2022-07-01 | $589,900 (8.3%) | $791,646 (-5.8%) | 1.33 | 2,169 |
| 2022-08-01 | $571,915 (3.9%) | $757,555 (-11.5%) | 1.32 | 2,326 |
| 2022-09-01 | $558,015 (3.9%) | $742,636 (-11.4%) | 1.30 | 2,351 |
| 2022-10-01 | $549,900 (1.9%) | $747,324 (-13.2%) | 1.29 | 2,419 |
| 2022-11-01 | $549,900 (0.5%) | $747,133 (-16.2%) | 1.32 | 2,289 |
| 2022-12-01 | $550,000 (-1.7%) | $747,637 (-21.6%) | 1.36 | 2,070 |
| 2023-01-01 | $561,560 (0.4%) | $762,957 (-19.1%) | 1.39 | 1,722 |
| 2023-02-01 | $554,950 (-5.9%) | $780,639 (-23.1%) | 1.34 | 1,518 |
| 2023-03-01 | $574,995 (-2.9%) | $808,090 (-16.2%) | 1.36 | 1,409 |
| 2023-04-01 | $589,443 (-4.8%) | $822,619 (-15.0%) | 1.37 | 1,357 |
| 2023-05-01 | $599,997 (-2.8%) | $829,175 (-3.1%) | 1.36 | 1,430 |
| 2023-06-01 | $599,450 (-1.5%) | $839,871 (1.9%) | 1.35 | 1,553 |
| 2023-07-01 | $599,990 (1.7%) | $859,701 (8.6%) | 1.36 | 1,616 |
| 2023-08-01 | $591,675 (3.5%) | $839,796 (10.9%) | 1.36 | 1,747 |
| 2023-09-01 | $579,900 (3.9%) | $826,947 (11.4%) | 1.35 | 1,851 |
| 2023-10-01 | $569,188 (3.5%) | $813,483 (8.9%) | 1.34 | 1,842 |
| 2023-11-01 | $573,986 (4.4%) | $832,263 (11.4%) | 1.37 | 1,776 |
| 2023-12-01 | $569,990 (3.6%) | $842,343 (12.7%) | 1.39 | 1,535 |
| 2024-01-01 | $574,650 (2.3%) | $834,235 (9.3%) | 1.40 | 1,378 |
| 2024-02-01 | $571,145 (2.9%) | $816,762 (4.6%) | 1.37 | 1,360 |
| 2024-03-01 | $569,999 (-0.9%) | $804,696 (-0.4%) | 1.34 | 1,415 |
Provo's median listing price comes in at 134% of the national average.
Provo's average listing price for 2024-03-01 was $804,696, a difference of $-3,394 (-0.4%) versus the prior year and $-12,066 versus the prior month.
For the 2024-03-01 period, Provo had 1,415 MLS listings, a difference of 55 listings (4%) versus the prior month and 6 listings (0%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Provo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 49 days | 3,387 sqft |
| 2018-02-01 | 48 days | 3,443 sqft |
| 2018-03-01 | 26 days | 3,467 sqft |
| 2018-04-01 | 32 days | 3,483 sqft |
| 2018-05-01 | 31 days | 3,463 sqft |
| 2018-06-01 | 32 days | 3,423 sqft |
| 2018-07-01 | 31 days | 3,431 sqft |
| 2018-08-01 | 32 days | 3,400 sqft |
| 2018-09-01 | 43 days | 3,340 sqft |
| 2018-10-01 | 41 days | 3,319 sqft |
| 2018-11-01 | 41 days | 3,282 sqft |
| 2018-12-01 | 54 days | 3,259 sqft |
| 2019-01-01 | 56 days | 3,251 sqft |
| 2019-02-01 | 51 days | 3,260 sqft |
| 2019-03-01 | 47 days | 3,307 sqft |
| 2019-04-01 | 44 days | 3,334 sqft |
| 2019-05-01 | 41 days | 3,263 sqft |
| 2019-06-01 | 44 days | 3,250 sqft |
| 2019-07-01 | 45 days | 3,266 sqft |
| 2019-08-01 | 47 days | 3,242 sqft |
| 2019-09-01 | 50 days | 3,215 sqft |
| 2019-10-01 | 52 days | 3,173 sqft |
| 2019-11-01 | 53 days | 3,153 sqft |
| 2019-12-01 | 56 days | 3,169 sqft |
| 2020-01-01 | 60 days | 3,236 sqft |
| 2020-02-01 | 54 days | 3,368 sqft |
| 2020-03-01 | 45 days | 3,302 sqft |
| 2020-04-01 | 39 days | 3,178 sqft |
| 2020-05-01 | 44 days | 3,219 sqft |
| 2020-06-01 | 46 days | 3,273 sqft |
| 2020-07-01 | 47 days | 3,352 sqft |
| 2020-08-01 | 39 days | 3,363 sqft |
| 2020-09-01 | 30 days | 3,387 sqft |
| 2020-10-01 | 37 days | 3,301 sqft |
| 2020-11-01 | 41 days | 3,470 sqft |
| 2020-12-01 | 44 days | 3,556 sqft |
| 2021-01-01 | 42 days | 3,454 sqft |
| 2021-02-01 | 19 days | 3,179 sqft |
| 2021-03-01 | 7 days | 2,965 sqft |
| 2021-04-01 | 9 days | 3,089 sqft |
| 2021-05-01 | 11 days | 2,943 sqft |
| 2021-06-01 | 15 days | 2,961 sqft |
| 2021-07-01 | 17 days | 2,883 sqft |
| 2021-08-01 | 18 days | 2,953 sqft |
| 2021-09-01 | 22 days | 2,846 sqft |
| 2021-10-01 | 24 days | 2,702 sqft |
| 2021-11-01 | 24 days | 2,815 sqft |
| 2021-12-01 | 41 days | 2,912 sqft |
| 2022-01-01 | 47 days | 3,008 sqft |
| 2022-02-01 | 29 days | 2,958 sqft |
| 2022-03-01 | 25 days | 2,846 sqft |
| 2022-04-01 | 23 days | 2,898 sqft |
| 2022-05-01 | 20 days | 2,858 sqft |
| 2022-06-01 | 29 days | 2,896 sqft |
| 2022-07-01 | 38 days | 2,798 sqft |
| 2022-08-01 | 46 days | 2,751 sqft |
| 2022-09-01 | 51 days | 2,693 sqft |
| 2022-10-01 | 58 days | 2,714 sqft |
| 2022-11-01 | 71 days | 2,731 sqft |
| 2022-12-01 | 86 days | 2,773 sqft |
| 2023-01-01 | 89 days | 2,844 sqft |
| 2023-02-01 | 86 days | 2,824 sqft |
| 2023-03-01 | 58 days | 2,935 sqft |
| 2023-04-01 | 55 days | 3,019 sqft |
| 2023-05-01 | 45 days | 3,103 sqft |
| 2023-06-01 | 41 days | 3,028 sqft |
| 2023-07-01 | 47 days | 3,100 sqft |
| 2023-08-01 | 45 days | 2,994 sqft |
| 2023-09-01 | 46 days | 2,964 sqft |
| 2023-10-01 | 57 days | 2,864 sqft |
| 2023-11-01 | 59 days | 2,913 sqft |
| 2023-12-01 | 67 days | 2,854 sqft |
| 2024-01-01 | 66 days | 2,821 sqft |
| 2024-02-01 | 52 days | 2,835 sqft |
| 2024-03-01 | 49 days | 2,808 sqft |
Provo's median square footage for active listings during the 2024-03-01 period was 2,808 sqft. One year prior, the average listing was 2,935 sqft.