Redding USDA Loan Rates, Closing Costs & Stats

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 6.46% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

Redding's average USDA mortgage closing costs are $6,638.

The average rate for the prior week (2023-01-20) was 6.35% and one month ago for the week of 2022-12-23, the average rate was 6.28%.

The average rate one year ago was 3.83%.

For refis of the same type during the week of 2023-01-27, the average rate was 6.22%.

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/closing costs 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. Closing Costs
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 $323,038 (8.2%) $405,505 (3.1%) 1.20 604
2018-02-01 $329,800 (9.5%) $403,334 (0.9%) 1.20 628
2018-03-01 $329,950 (2.6%) $408,723 (0.1%) 1.16 674
2018-04-01 $329,250 (-1.7%) $403,089 (-4.5%) 1.12 727
2018-05-01 $333,250 (4.2%) $414,391 (5.0%) 1.11 791
2018-06-01 $328,400 (3.0%) $406,113 (4.1%) 1.10 846
2018-07-01 $318,900 (1.4%) $383,518 (-0.3%) 1.06 873
2018-08-01 $312,450 (0.2%) $384,275 (-0.4%) 1.05 766
2018-09-01 $324,900 (1.9%) $395,820 (0.4%) 1.09 766
2018-10-01 $327,000 (2.3%) $401,544 (2.7%) 1.10 777
2018-11-01 $332,450 (4.6%) $416,840 (5.4%) 1.13 742
2018-12-01 $329,900 (3.4%) $421,940 (4.9%) 1.14 713
2019-01-01 $334,825 (3.7%) $431,118 (6.3%) 1.16 662
2019-02-01 $327,000 (-0.9%) $430,949 (6.9%) 1.10 659
2019-03-01 $324,943 (-1.5%) $431,552 (5.6%) 1.06 651
2019-04-01 $327,350 (-0.6%) $435,892 (8.1%) 1.04 643
2019-05-01 $339,950 (2.0%) $435,488 (5.1%) 1.06 728
2019-06-01 $339,950 (3.5%) $433,803 (6.8%) 1.06 805
2019-07-01 $333,700 (4.6%) $422,443 (10.2%) 1.04 795
2019-08-01 $331,818 (6.2%) $423,882 (10.3%) 1.05 782
2019-09-01 $330,795 (1.8%) $426,651 (7.8%) 1.06 782
2019-10-01 $333,064 (1.9%) $428,497 (6.7%) 1.07 775
2019-11-01 $339,000 (2.0%) $439,958 (5.6%) 1.11 710
2019-12-01 $336,950 (2.1%) $445,282 (5.5%) 1.12 616
2020-01-01 $347,850 (3.9%) $456,983 (6.0%) 1.16 560
2020-02-01 $342,450 (4.7%) $458,468 (6.4%) 1.12 543
2020-03-01 $357,225 (9.9%) $465,731 (7.9%) 1.12 559
2020-04-01 $363,700 (11.1%) $466,581 (7.0%) 1.14 598
2020-05-01 $382,450 (12.5%) $470,074 (7.9%) 1.16 593
2020-06-01 $395,725 (16.4%) $486,212 (12.1%) 1.16 557
2020-07-01 $399,950 (19.9%) $510,273 (20.8%) 1.16 468
2020-08-01 $399,000 (20.3%) $557,782 (31.6%) 1.14 416
2020-09-01 $398,000 (20.3%) $586,528 (37.5%) 1.14 417
2020-10-01 $398,750 (19.7%) $564,992 (31.9%) 1.14 459
2020-11-01 $399,000 (17.7%) $577,863 (31.3%) 1.17 454
2020-12-01 $414,225 (22.9%) $593,938 (33.4%) 1.23 390
2021-01-01 $429,000 (23.3%) $619,754 (35.6%) 1.28 319
2021-02-01 $431,000 (25.9%) $636,852 (38.9%) 1.25 296
2021-03-01 $427,750 (19.7%) $625,232 (34.3%) 1.21 304
2021-04-01 $427,700 (17.6%) $656,085 (40.6%) 1.16 281
2021-05-01 $449,900 (17.6%) $714,561 (52.0%) 1.19 311
2021-06-01 $456,225 (15.3%) $700,284 (44.0%) 1.20 348
2021-07-01 $425,000 (6.3%) $651,471 (27.7%) 1.12 396
2021-08-01 $430,650 (7.9%) $634,018 (13.7%) 1.15 428
2021-09-01 $439,450 (10.4%) $639,235 (9.0%) 1.17 439
2021-10-01 $442,750 (11.0%) $606,159 (7.3%) 1.18 444
2021-11-01 $437,500 (9.7%) $602,691 (4.3%) 1.17 435
2021-12-01 $436,500 (5.4%) $597,761 (0.6%) 1.18 380
2022-01-01 $459,900 (7.2%) $618,046 (-0.3%) 1.24 314
2022-02-01 $475,725 (10.4%) $641,660 (0.8%) 1.24 311
2022-03-01 $487,500 (14.0%) $673,156 (7.7%) 1.22 343
2022-04-01 $474,700 (11.0%) $683,362 (4.2%) 1.13 380
2022-05-01 $469,125 (4.3%) $645,348 (-9.7%) 1.07 417
2022-06-01 $471,750 (3.4%) $628,655 (-10.2%) 1.05 455
2022-07-01 $430,000 (1.2%) $592,476 (-9.1%) 0.97 528
2022-08-01 $439,000 (1.9%) $605,141 (-4.6%) 1.01 537
2022-09-01 $438,225 (-0.3%) $610,443 (-4.5%) 1.03 543
2022-10-01 $424,900 (-4.0%) $587,545 (-3.1%) 1.00 542
2022-11-01 $413,200 (-5.6%) $585,495 (-2.9%) 0.99 516
2022-12-01 $416,500 (-4.6%) $592,819 (-0.8%) 1.04 439
Redding's median listing price for 2022-12-01 was $416,500, a difference of $-20,000 (-4.6%) versus the prior year and $3,300 versus the prior month.

Redding's median listing price comes in at 104% of the national average.

Redding's average listing price for 2022-12-01 was $592,819, a difference of $-4,942 (-0.8%) versus the prior year and $7,324 versus the prior month.

For the 2022-12-01 period, Redding had 439 MLS listings, a difference of -77 listings (-15%) versus the prior month and 59 listings (16%) 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 85 days 1,802 sqft
2018-02-01 68 days 1,803 sqft
2018-03-01 55 days 1,828 sqft
2018-04-01 56 days 1,814 sqft
2018-05-01 49 days 1,834 sqft
2018-06-01 52 days 1,822 sqft
2018-07-01 61 days 1,777 sqft
2018-08-01 65 days 1,756 sqft
2018-09-01 64 days 1,792 sqft
2018-10-01 65 days 1,811 sqft
2018-11-01 66 days 1,831 sqft
2018-12-01 74 days 1,828 sqft
2019-01-01 81 days 1,838 sqft
2019-02-01 77 days 1,843 sqft
2019-03-01 67 days 1,828 sqft
2019-04-01 48 days 1,820 sqft
2019-05-01 42 days 1,848 sqft
2019-06-01 47 days 1,812 sqft
2019-07-01 58 days 1,783 sqft
2019-08-01 62 days 1,794 sqft
2019-09-01 62 days 1,808 sqft
2019-10-01 65 days 1,830 sqft
2019-11-01 69 days 1,840 sqft
2019-12-01 84 days 1,819 sqft
2020-01-01 87 days 1,832 sqft
2020-02-01 64 days 1,820 sqft
2020-03-01 48 days 1,882 sqft
2020-04-01 51 days 1,896 sqft
2020-05-01 52 days 1,928 sqft
2020-06-01 53 days 1,979 sqft
2020-07-01 64 days 1,978 sqft
2020-08-01 57 days 1,908 sqft
2020-09-01 40 days 1,903 sqft
2020-10-01 42 days 1,898 sqft
2020-11-01 47 days 1,893 sqft
2020-12-01 63 days 1,908 sqft
2021-01-01 73 days 1,923 sqft
2021-02-01 42 days 1,900 sqft
2021-03-01 32 days 1,899 sqft
2021-04-01 29 days 1,856 sqft
2021-05-01 22 days 1,906 sqft
2021-06-01 30 days 1,955 sqft
2021-07-01 29 days 1,868 sqft
2021-08-01 38 days 1,865 sqft
2021-09-01 43 days 1,882 sqft
2021-10-01 43 days 1,879 sqft
2021-11-01 42 days 1,850 sqft
2021-12-01 50 days 1,839 sqft
2022-01-01 62 days 1,830 sqft
2022-02-01 42 days 1,835 sqft
2022-03-01 30 days 1,849 sqft
2022-04-01 30 days 1,837 sqft
2022-05-01 36 days 1,817 sqft
2022-06-01 36 days 1,816 sqft
2022-07-01 39 days 1,747 sqft
2022-08-01 51 days 1,761 sqft
2022-09-01 51 days 1,772 sqft
2022-10-01 53 days 1,736 sqft
2022-11-01 63 days 1,736 sqft
2022-12-01 74 days 1,736 sqft
Redding's median listing age (time on market) for 2022-12-01 was 74 days. This is 46% longer than the same period one year ago.

Redding's median square footage for active listings during the 2022-12-01 period was 1,736 sqft. One year prior, the average listing was 1,839 sqft.