Redding USDA Loans

REDDING, CA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Redding's 26 lenders originated 102 USDA loans during 2021. The total origination value was $26,010,000, with an average USDA loan value of $255,000.

    Redding USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Redding averaged 5.38% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

    The average rate for the prior week (2022-05-13) was 5.36% and one month ago for the week of 2022-04-15, the average rate was 4.86%.

    The average rate one year ago was 3.41%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.04%.

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

    Redding USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Redding level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    CELEBRITY HOME LOANS, LLC 17 2.87% $7,646
    AMERICAN PACIFIC MORTGAGE CORPORATION 15 2.86% $7,162
    PRIMELENDING, A PLAINSCAPITAL COMPANY 14 3.10% $7,982
    Flagstar Bank, FSB 10 2.88% $7,873
    Commerce Home Mortgage, Inc. 6 2.94% $6,196
    MEGASTAR FINANCIAL CORP. 4 2.69% $6,824
    Paramount Residential Mortgage Group, Inc. 4 2.78% $6,286
    Sierra Pacific Mortgage Company, Inc. 4 2.78% $4,759
    HOME POINT FINANCIAL CORPORATION 3 2.42% $6,760
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.29% $5,867
    U.S. Bank 2 3.00% $6,138
    SUMMIT FUNDING, INC. 2 3.50% $8,527
    PENNYMAC LOAN SERVICES, LLC 2 2.81% $5,538
    GUILD MORTGAGE COMPANY 2 2.94% $7,100
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 2.75% $7,590
    LENDUS, LLC 1 2.75% $6,649
    Amerifirst Financial, Inc. 1 2.50% $3,660
    BROKER SOLUTIONS, INC. 1 3.63% $7,010
    Carrington Mortgage Services, LLC 1 2.63% $4,394
    Colten Mortgage, LLC 1 2.75% $4,866
    AMERICAN FINANCIAL NETWORK, INC. 1 3.25% $10,231
    MICHIGAN MUTUAL, INC. 1 3.63% $13,633
    MOVEMENT MORTGAGE, LLC 1 3.00% $6,138
    NEWREZ LLC 1 2.88% $7,374
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.88% $7,437
    Umpqua Bank 1 2.25% $8,813

    The top Redding USDA lender as defined by loan originations is CELEBRITY HOME LOANS, LLC, with 17 USDA loans originated. Their average total fees are $7,646, which is $483 higher than the next largest lender, AMERICAN PACIFIC MORTGAGE CORPORATION.

    The lowest fee Redding USDA lenders (with over 10 loans originated) are AMERICAN PACIFIC MORTGAGE CORPORATION ($7,162), CELEBRITY HOME LOANS, LLC ($7,646), Flagstar Bank, FSB ($7,873), PRIMELENDING, A PLAINSCAPITAL COMPANY ($7,982) and .

    The lowest rate Redding USDA lenders (with over 10 loans originated) are AMERICAN PACIFIC MORTGAGE CORPORATION (2.86%), CELEBRITY HOME LOANS, LLC (2.87%), Flagstar Bank, FSB (2.88%), PRIMELENDING, A PLAINSCAPITAL COMPANY (3.10%) and .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Redding (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 $324,200 (8.3%) $414,792 (-0.2%) 1.19 607
    2018-02-01 $329,500 (8.1%) $419,111 (-0.6%) 1.19 632
    2018-03-01 $329,500 (1.1%) $426,296 (0.9%) 1.14 680
    2018-04-01 $329,000 (-1.8%) $415,445 (-3.9%) 1.10 737
    2018-05-01 $331,000 (3.5%) $425,178 (5.1%) 1.10 815
    2018-06-01 $328,800 (3.1%) $421,916 (6.7%) 1.10 862
    2018-07-01 $319,900 (0.6%) $402,262 (1.1%) 1.07 890
    2018-08-01 $321,950 (2.4%) $403,845 (1.7%) 1.08 787
    2018-09-01 $325,000 (1.9%) $407,154 (2.0%) 1.09 788
    2018-10-01 $327,000 (1.5%) $408,964 (1.8%) 1.09 792
    2018-11-01 $332,450 (3.5%) $424,820 (5.0%) 1.11 752
    2018-12-01 $329,900 (3.1%) $427,217 (3.5%) 1.13 718
    2019-01-01 $334,500 (3.2%) $435,373 (5.0%) 1.15 670
    2019-02-01 $326,950 (-0.8%) $444,591 (6.1%) 1.10 663
    2019-03-01 $326,871 (-0.8%) $447,827 (5.1%) 1.07 646
    2019-04-01 $329,700 (0.2%) $454,751 (9.5%) 1.04 628
    2019-05-01 $342,450 (3.5%) $447,827 (5.3%) 1.06 715
    2019-06-01 $340,000 (3.4%) $437,125 (3.6%) 1.05 803
    2019-07-01 $339,450 (6.1%) $434,610 (8.0%) 1.05 795
    2019-08-01 $339,000 (5.3%) $435,057 (7.7%) 1.07 776
    2019-09-01 $338,500 (4.2%) $437,096 (7.4%) 1.07 770
    2019-10-01 $335,900 (2.7%) $436,754 (6.8%) 1.07 772
    2019-11-01 $342,800 (3.1%) $447,102 (5.2%) 1.11 713
    2019-12-01 $342,000 (3.7%) $457,078 (7.0%) 1.14 624
    2020-01-01 $347,950 (4.0%) $465,805 (7.0%) 1.16 569
    2020-02-01 $344,900 (5.5%) $464,577 (4.5%) 1.11 551
    2020-03-01 $359,500 (10.0%) $466,042 (4.1%) 1.12 566
    2020-04-01 $365,000 (10.7%) $464,689 (2.2%) 1.14 607
    2020-05-01 $380,000 (11.0%) $472,832 (5.6%) 1.15 588
    2020-06-01 $399,900 (17.6%) $488,898 (11.8%) 1.17 550
    2020-07-01 $405,700 (19.5%) $512,159 (17.8%) 1.16 469
    2020-08-01 $399,900 (18.0%) $543,539 (24.9%) 1.14 414
    2020-09-01 $399,450 (18.0%) $573,666 (31.2%) 1.14 406
    2020-10-01 $399,900 (19.1%) $566,916 (29.8%) 1.14 456
    2020-11-01 $412,950 (20.5%) $571,205 (27.8%) 1.18 449
    2020-12-01 $429,950 (25.7%) $599,988 (31.3%) 1.26 387
    2021-01-01 $433,000 (24.4%) $621,976 (33.5%) 1.27 325
    2021-02-01 $432,900 (25.5%) $626,867 (34.9%) 1.24 301
    2021-03-01 $433,000 (20.5%) $620,501 (33.1%) 1.21 298
    2021-04-01 $437,000 (19.7%) $650,060 (39.9%) 1.17 274
    2021-05-01 $449,900 (18.4%) $713,583 (50.9%) 1.18 310
    2021-06-01 $456,000 (14.0%) $686,113 (40.3%) 1.18 351
    2021-07-01 $433,900 (7.0%) $621,382 (21.3%) 1.13 398
    2021-08-01 $437,000 (9.3%) $615,413 (13.2%) 1.15 438
    2021-09-01 $438,000 (9.7%) $616,596 (7.5%) 1.15 448
    2021-10-01 $439,900 (10.0%) $586,101 (3.4%) 1.16 455
    2021-11-01 $436,950 (5.8%) $581,198 (1.8%) 1.15 441
    2021-12-01 $434,450 (1.1%) $586,273 (-2.3%) 1.16 386
    2022-01-01 $445,000 (2.8%) $606,564 (-2.5%) 1.19 304
    2022-02-01 $472,000 (9.0%) $589,831 (-5.9%) 1.20 303
    2022-03-01 $494,950 (14.3%) $597,521 (-3.7%) 1.22 338
    2022-04-01 $479,000 (9.6%) $620,834 (-4.5%) 1.13 389
    Redding's median listing price for 2022-04-01 was $479,000, a difference of $42,000 (9.6%) versus the prior year and $-15,950 versus the prior month.

    Redding's median listing price comes in at 113% of the national average.

    Redding's average listing price for 2022-04-01 was $620,834, a difference of $-29,226 (-4.5%) versus the prior year and $23,313 versus the prior month.

    For the 2022-04-01 period, Redding had 389 MLS listings, a difference of 51 listings (15%) versus the prior month and 115 listings (42%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Redding (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 84 days 1,790 sqft
    2018-02-01 68 days 1,786 sqft
    2018-03-01 54 days 1,808 sqft
    2018-04-01 54 days 1,800 sqft
    2018-05-01 48 days 1,815 sqft
    2018-06-01 52 days 1,800 sqft
    2018-07-01 61 days 1,766 sqft
    2018-08-01 64 days 1,751 sqft
    2018-09-01 65 days 1,780 sqft
    2018-10-01 66 days 1,817 sqft
    2018-11-01 68 days 1,843 sqft
    2018-12-01 74 days 1,826 sqft
    2019-01-01 81 days 1,832 sqft
    2019-02-01 79 days 1,826 sqft
    2019-03-01 70 days 1,818 sqft
    2019-04-01 50 days 1,820 sqft
    2019-05-01 41 days 1,847 sqft
    2019-06-01 49 days 1,805 sqft
    2019-07-01 58 days 1,802 sqft
    2019-08-01 67 days 1,820 sqft
    2019-09-01 64 days 1,842 sqft
    2019-10-01 65 days 1,843 sqft
    2019-11-01 70 days 1,849 sqft
    2019-12-01 83 days 1,844 sqft
    2020-01-01 85 days 1,842 sqft
    2020-02-01 64 days 1,823 sqft
    2020-03-01 47 days 1,891 sqft
    2020-04-01 51 days 1,899 sqft
    2020-05-01 53 days 1,914 sqft
    2020-06-01 54 days 1,967 sqft
    2020-07-01 65 days 1,971 sqft
    2020-08-01 60 days 1,908 sqft
    2020-09-01 44 days 1,900 sqft
    2020-10-01 42 days 1,904 sqft
    2020-11-01 47 days 1,908 sqft
    2020-12-01 62 days 1,929 sqft
    2021-01-01 77 days 1,950 sqft
    2021-02-01 45 days 1,900 sqft
    2021-03-01 36 days 1,944 sqft
    2021-04-01 29 days 1,898 sqft
    2021-05-01 23 days 1,961 sqft
    2021-06-01 30 days 1,991 sqft
    2021-07-01 30 days 1,894 sqft
    2021-08-01 38 days 1,893 sqft
    2021-09-01 46 days 1,901 sqft
    2021-10-01 45 days 1,904 sqft
    2021-11-01 46 days 1,860 sqft
    2021-12-01 51 days 1,858 sqft
    2022-01-01 65 days 1,848 sqft
    2022-02-01 54 days 1,838 sqft
    2022-03-01 31 days 1,887 sqft
    2022-04-01 29 days 1,863 sqft
    Redding's median listing age (time on market) for 2022-04-01 was 29 days. This is 0% longer than the same period one year ago.

    Redding's median square footage for active listings during the 2022-04-01 period was 1,863 sqft. One year prior, the average listing was 1,898 sqft.