Redding USDA Loans

REDDING, CA

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.