Redding USDA Loan Rates, Closing Costs & Stats

REDDING, CA

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    • 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.