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 52 lenders originated 356 USDA loans during 2021. The total origination value was $128,100,000, with an average USDA loan value of $359,831.
Provo USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Provo
averaged
6.2%
for the week of 2023-01-27, compared to the national average (all USDA variants) of
6.195% for the same period.
Provo's average USDA mortgage closing costs are $6,828.
The average rate for the prior week (2023-01-20) was
5.99% and
one month ago for the week of 2022-12-23, the
average rate was 6.32%.
The average rate one year ago was 3.67%.
For refis of the same type during the week of 2023-01-27, the average rate
was 6.18%.
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.
The top Provo USDA lender as defined by loan originations is FIRST COLONY MORTGAGE CORPORATION, with
63 USDA loans originated. Their average total fees are
$5,444, which is $3,692
lower than the next largest lender,
SECURITYNATIONAL MORTGAGE COMPANY.
The lowest fee Provo USDA lenders (with over 10 loans originated) are
FIRST COLONY MORTGAGE CORPORATION ($5,444), DHI MORTGAGE COMPANY, LTD. ($5,647), CANOPY MORTGAGE, LLC ($6,545), CALIBER HOME LOANS, INC. ($7,022) and HOME POINT FINANCIAL CORPORATION ($7,440).
The lowest rate Provo USDA lenders (with over 10 loans originated) are
CANOPY MORTGAGE, LLC (2.44%), FIRST COLONY MORTGAGE CORPORATION (2.50%), SECURITY HOME MORTGAGE, LLC. (2.51%), HOME POINT FINANCIAL CORPORATION (2.62%) and DHI MORTGAGE COMPANY, LTD. (2.62%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Provo (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $370,400 (7.6%) | $522,392 (5.1%) | 1.37 | 1,476 |
2018-02-01 | $383,175 (8.7%) | $531,089 (3.9%) | 1.39 | 1,413 |
2018-03-01 | $392,900 (7.7%) | $540,174 (2.5%) | 1.38 | 1,407 |
2018-04-01 | $395,090 (6.0%) | $548,406 (2.3%) | 1.34 | 1,519 |
2018-05-01 | $398,845 (7.9%) | $545,021 (2.2%) | 1.33 | 1,683 |
2018-06-01 | $399,610 (7.0%) | $533,662 (0.7%) | 1.33 | 1,915 |
2018-07-01 | $398,698 (7.8%) | $531,994 (3.4%) | 1.33 | 1,929 |
2018-08-01 | $397,925 (9.6%) | $528,875 (5.5%) | 1.33 | 2,011 |
2018-09-01 | $389,926 (6.9%) | $519,713 (5.6%) | 1.31 | 2,099 |
2018-10-01 | $386,130 (5.8%) | $505,301 (1.0%) | 1.30 | 2,298 |
2018-11-01 | $381,000 (3.4%) | $499,534 (-2.3%) | 1.29 | 2,329 |
2018-12-01 | $379,900 (3.0%) | $494,598 (-3.9%) | 1.31 | 2,222 |
2019-01-01 | $381,400 (3.0%) | $481,224 (-7.9%) | 1.32 | 2,059 |
2019-02-01 | $387,650 (1.2%) | $477,867 (-10.0%) | 1.31 | 2,036 |
2019-03-01 | $396,086 (0.8%) | $493,431 (-8.7%) | 1.30 | 2,060 |
2019-04-01 | $402,611 (1.9%) | $513,767 (-6.3%) | 1.28 | 2,110 |
2019-05-01 | $399,000 (0.0%) | $516,994 (-5.1%) | 1.25 | 2,195 |
2019-06-01 | $399,990 (0.1%) | $525,621 (-1.5%) | 1.25 | 2,300 |
2019-07-01 | $407,495 (2.2%) | $531,782 (0.0%) | 1.28 | 2,333 |
2019-08-01 | $405,091 (1.8%) | $526,754 (-0.4%) | 1.28 | 2,330 |
2019-09-01 | $402,227 (3.2%) | $521,048 (0.3%) | 1.29 | 2,317 |
2019-10-01 | $398,500 (3.2%) | $512,419 (1.4%) | 1.29 | 2,305 |
2019-11-01 | $398,655 (4.6%) | $514,335 (3.0%) | 1.31 | 2,035 |
2019-12-01 | $399,900 (5.3%) | $526,275 (6.4%) | 1.33 | 1,823 |
2020-01-01 | $409,900 (7.5%) | $525,654 (9.2%) | 1.37 | 1,661 |
2020-02-01 | $428,495 (10.5%) | $547,911 (14.7%) | 1.40 | 1,424 |
2020-03-01 | $430,450 (8.7%) | $559,044 (13.3%) | 1.35 | 1,470 |
2020-04-01 | $416,247 (3.4%) | $510,137 (-0.7%) | 1.30 | 1,855 |
2020-05-01 | $427,445 (7.1%) | $544,614 (5.3%) | 1.30 | 1,745 |
2020-06-01 | $437,900 (9.5%) | $582,012 (10.7%) | 1.29 | 1,439 |
2020-07-01 | $453,000 (11.2%) | $605,260 (13.8%) | 1.31 | 1,194 |
2020-08-01 | $469,595 (15.9%) | $662,251 (25.7%) | 1.35 | 1,031 |
2020-09-01 | $494,500 (22.9%) | $698,846 (34.1%) | 1.42 | 886 |
2020-10-01 | $500,000 (25.5%) | $807,753 (57.6%) | 1.43 | 721 |
2020-11-01 | $521,748 (30.9%) | $888,807 (72.8%) | 1.52 | 594 |
2020-12-01 | $539,249 (34.9%) | $904,023 (71.8%) | 1.60 | 514 |
2021-01-01 | $529,900 (29.3%) | $955,494 (81.8%) | 1.58 | 418 |
2021-02-01 | $524,972 (22.5%) | $1,048,239 (91.3%) | 1.53 | 333 |
2021-03-01 | $502,241 (16.7%) | $999,485 (78.8%) | 1.43 | 374 |
2021-04-01 | $536,644 (28.9%) | $992,787 (94.6%) | 1.45 | 454 |
2021-05-01 | $548,900 (28.4%) | $941,361 (72.9%) | 1.45 | 568 |
2021-06-01 | $544,683 (24.4%) | $877,300 (50.7%) | 1.43 | 728 |
2021-07-01 | $539,799 (19.2%) | $834,257 (37.8%) | 1.42 | 868 |
2021-08-01 | $548,500 (16.8%) | $849,444 (28.3%) | 1.46 | 897 |
2021-09-01 | $534,925 (8.2%) | $831,468 (19.0%) | 1.43 | 930 |
2021-10-01 | $535,000 (7.0%) | $852,647 (5.6%) | 1.43 | 865 |
2021-11-01 | $542,425 (4.0%) | $881,551 (-0.8%) | 1.45 | 771 |
2021-12-01 | $552,475 (2.5%) | $939,306 (3.9%) | 1.50 | 601 |
2022-01-01 | $553,558 (4.5%) | $931,924 (-2.5%) | 1.50 | 483 |
2022-02-01 | $580,975 (10.7%) | $997,674 (-4.8%) | 1.51 | 447 |
2022-03-01 | $586,675 (16.8%) | $952,489 (-4.7%) | 1.47 | 476 |
2022-04-01 | $612,250 (14.1%) | $958,347 (-3.5%) | 1.46 | 692 |
2022-05-01 | $614,093 (11.9%) | $850,961 (-9.6%) | 1.40 | 1,246 |
2022-06-01 | $600,902 (10.3%) | $821,092 (-6.4%) | 1.34 | 1,715 |
2022-07-01 | $589,900 (9.3%) | $789,542 (-5.4%) | 1.33 | 2,183 |
2022-08-01 | $567,798 (3.5%) | $755,543 (-11.1%) | 1.31 | 2,341 |
2022-09-01 | $555,000 (3.8%) | $740,611 (-10.9%) | 1.30 | 2,366 |
2022-10-01 | $549,900 (2.8%) | $745,716 (-12.5%) | 1.29 | 2,433 |
2022-11-01 | $549,900 (1.4%) | $745,284 (-15.5%) | 1.32 | 2,303 |
2022-12-01 | $549,900 (-0.5%) | $743,457 (-20.9%) | 1.37 | 2,093 |
Provo's median listing price comes in at 137% of the national average.
Provo's average listing price for 2022-12-01 was $743,457, a difference of $-195,849 (-20.9%) versus the prior year and $-1,827 versus the prior month.
For the 2022-12-01 period, Provo had 2,093 MLS listings, a difference of -210 listings (-9%) versus the prior month and 1,492 listings (248%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Provo (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 52 days | 3,384 sqft |
2018-02-01 | 49 days | 3,437 sqft |
2018-03-01 | 29 days | 3,466 sqft |
2018-04-01 | 32 days | 3,483 sqft |
2018-05-01 | 33 days | 3,463 sqft |
2018-06-01 | 34 days | 3,422 sqft |
2018-07-01 | 32 days | 3,422 sqft |
2018-08-01 | 33 days | 3,398 sqft |
2018-09-01 | 43 days | 3,338 sqft |
2018-10-01 | 42 days | 3,317 sqft |
2018-11-01 | 42 days | 3,282 sqft |
2018-12-01 | 54 days | 3,259 sqft |
2019-01-01 | 57 days | 3,251 sqft |
2019-02-01 | 52 days | 3,265 sqft |
2019-03-01 | 48 days | 3,310 sqft |
2019-04-01 | 45 days | 3,336 sqft |
2019-05-01 | 43 days | 3,265 sqft |
2019-06-01 | 44 days | 3,250 sqft |
2019-07-01 | 46 days | 3,263 sqft |
2019-08-01 | 48 days | 3,241 sqft |
2019-09-01 | 50 days | 3,218 sqft |
2019-10-01 | 54 days | 3,179 sqft |
2019-11-01 | 54 days | 3,158 sqft |
2019-12-01 | 58 days | 3,174 sqft |
2020-01-01 | 61 days | 3,240 sqft |
2020-02-01 | 57 days | 3,366 sqft |
2020-03-01 | 46 days | 3,299 sqft |
2020-04-01 | 40 days | 3,178 sqft |
2020-05-01 | 45 days | 3,219 sqft |
2020-06-01 | 49 days | 3,272 sqft |
2020-07-01 | 50 days | 3,348 sqft |
2020-08-01 | 40 days | 3,360 sqft |
2020-09-01 | 31 days | 3,365 sqft |
2020-10-01 | 37 days | 3,300 sqft |
2020-11-01 | 42 days | 3,463 sqft |
2020-12-01 | 47 days | 3,509 sqft |
2021-01-01 | 47 days | 3,441 sqft |
2021-02-01 | 21 days | 3,155 sqft |
2021-03-01 | 8 days | 2,927 sqft |
2021-04-01 | 9 days | 3,048 sqft |
2021-05-01 | 11 days | 2,906 sqft |
2021-06-01 | 16 days | 2,927 sqft |
2021-07-01 | 18 days | 2,857 sqft |
2021-08-01 | 19 days | 2,943 sqft |
2021-09-01 | 23 days | 2,814 sqft |
2021-10-01 | 25 days | 2,691 sqft |
2021-11-01 | 25 days | 2,807 sqft |
2021-12-01 | 42 days | 2,875 sqft |
2022-01-01 | 53 days | 2,983 sqft |
2022-02-01 | 33 days | 2,938 sqft |
2022-03-01 | 27 days | 2,825 sqft |
2022-04-01 | 25 days | 2,878 sqft |
2022-05-01 | 22 days | 2,850 sqft |
2022-06-01 | 30 days | 2,888 sqft |
2022-07-01 | 39 days | 2,792 sqft |
2022-08-01 | 49 days | 2,742 sqft |
2022-09-01 | 53 days | 2,690 sqft |
2022-10-01 | 60 days | 2,708 sqft |
2022-11-01 | 73 days | 2,726 sqft |
2022-12-01 | 89 days | 2,762 sqft |
Provo's median square footage for active listings during the 2022-12-01 period was 2,762 sqft. One year prior, the average listing was 2,875 sqft.