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 4 lenders originated 11 USDA loans during 2023. The total origination value was $2,485,000, with an average USDA loan value of $225,909.

Redding USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Redding averaged 6.89% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Redding's average USDA mortgage closing costs are $6,899.

The average rate for the prior week (2024-04-05) was 6.62% and one month ago for the week of 2024-03-08, the average rate was 6.37%.

The average rate one year ago was 6.18%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.54%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.46% $10,019
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.44% $8,163
NEWREZ LLC 2 6.75% $10,671
ON Q FINANCIAL, INC. 1 6.38% $8,475

The top Redding USDA lender as defined by loan originations is AMERICAN PACIFIC MORTGAGE CORPORATION, with 3 USDA loans originated. Their average total fees are $10,019, which is $1,856 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Redding USDA lenders (with over 10 loans originated) are .

The lowest rate Redding USDA lenders (with over 10 loans originated) are .


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 $321,500 (8.6%) $403,848 (2.8%) 1.19 601
2018-02-01 $329,225 (9.8%) $401,777 (0.8%) 1.20 625
2018-03-01 $329,900 (3.0%) $408,033 (0.2%) 1.16 670
2018-04-01 $329,000 (-0.3%) $402,410 (-4.4%) 1.12 724
2018-05-01 $329,975 (3.5%) $413,520 (5.1%) 1.10 786
2018-06-01 $327,500 (3.2%) $405,212 (4.1%) 1.09 844
2018-07-01 $317,000 (1.2%) $382,582 (-0.2%) 1.06 871
2018-08-01 $312,425 (1.1%) $383,511 (-0.3%) 1.05 764
2018-09-01 $324,650 (1.8%) $395,132 (0.5%) 1.09 763
2018-10-01 $325,125 (1.8%) $400,445 (2.8%) 1.10 775
2018-11-01 $332,200 (4.8%) $416,371 (5.5%) 1.13 743
2018-12-01 $329,450 (3.5%) $421,437 (5.0%) 1.14 713
2019-01-01 $333,350 (3.7%) $430,589 (6.6%) 1.15 662
2019-02-01 $327,000 (-0.7%) $430,424 (7.1%) 1.10 659
2019-03-01 $324,943 (-1.5%) $431,372 (5.7%) 1.06 650
2019-04-01 $327,450 (-0.5%) $436,114 (8.4%) 1.04 641
2019-05-01 $339,950 (3.0%) $435,776 (5.4%) 1.06 724
2019-06-01 $339,900 (3.8%) $434,063 (7.1%) 1.06 803
2019-07-01 $333,575 (5.2%) $422,672 (10.5%) 1.04 793
2019-08-01 $331,636 (6.2%) $424,062 (10.6%) 1.05 780
2019-09-01 $330,716 (1.9%) $426,752 (8.0%) 1.06 781
2019-10-01 $332,852 (2.4%) $428,546 (7.0%) 1.07 774
2019-11-01 $339,000 (2.1%) $440,275 (5.7%) 1.11 708
2019-12-01 $336,950 (2.3%) $445,673 (5.8%) 1.12 614
2020-01-01 $347,850 (4.4%) $457,451 (6.2%) 1.16 558
2020-02-01 $342,450 (4.7%) $458,946 (6.6%) 1.12 541
2020-03-01 $357,225 (9.9%) $466,025 (8.0%) 1.12 558
2020-04-01 $362,900 (10.8%) $466,691 (7.0%) 1.14 597
2020-05-01 $379,900 (11.8%) $470,186 (7.9%) 1.15 592
2020-06-01 $394,450 (16.1%) $486,358 (12.1%) 1.16 556
2020-07-01 $400,575 (20.1%) $510,485 (20.8%) 1.16 467
2020-08-01 $399,000 (20.3%) $558,104 (31.6%) 1.14 415
2020-09-01 $398,450 (20.5%) $586,929 (37.5%) 1.14 415
2020-10-01 $398,750 (19.8%) $565,627 (32.0%) 1.14 457
2020-11-01 $399,000 (17.7%) $573,846 (30.3%) 1.17 451
2020-12-01 $414,500 (23.0%) $589,681 (32.3%) 1.23 387
2021-01-01 $427,000 (22.8%) $614,662 (34.4%) 1.27 316
2021-02-01 $431,000 (25.9%) $630,215 (37.3%) 1.25 293
2021-03-01 $426,500 (19.4%) $618,482 (32.7%) 1.21 301
2021-04-01 $427,475 (17.8%) $649,269 (39.1%) 1.16 279
2021-05-01 $449,900 (18.4%) $714,972 (52.1%) 1.20 309
2021-06-01 $456,225 (15.7%) $700,595 (44.1%) 1.20 347
2021-07-01 $425,000 (6.1%) $651,532 (27.6%) 1.12 394
2021-08-01 $432,000 (8.3%) $634,507 (13.7%) 1.15 427
2021-09-01 $439,450 (10.3%) $639,153 (8.9%) 1.17 438
2021-10-01 $442,750 (11.0%) $604,308 (6.8%) 1.18 442
2021-11-01 $438,500 (9.9%) $603,113 (5.1%) 1.17 431
2021-12-01 $438,500 (5.8%) $598,196 (1.4%) 1.19 376
2022-01-01 $459,900 (7.7%) $618,810 (0.7%) 1.24 310
2022-02-01 $479,950 (11.4%) $643,092 (2.0%) 1.25 307
2022-03-01 $489,000 (14.7%) $675,283 (9.2%) 1.22 338
2022-04-01 $475,000 (11.1%) $686,254 (5.7%) 1.13 374
2022-05-01 $472,200 (5.0%) $647,622 (-9.4%) 1.08 411
2022-06-01 $472,000 (3.5%) $631,175 (-9.9%) 1.05 450
2022-07-01 $430,000 (1.2%) $593,154 (-9.0%) 0.97 524
2022-08-01 $439,000 (1.6%) $605,928 (-4.5%) 1.01 533
2022-09-01 $439,125 (-0.1%) $611,198 (-4.4%) 1.03 539
2022-10-01 $424,900 (-4.0%) $587,739 (-2.7%) 1.00 538
2022-11-01 $413,200 (-5.8%) $586,823 (-2.7%) 0.99 513
2022-12-01 $418,000 (-4.7%) $595,172 (-0.5%) 1.03 434
2023-01-01 $409,200 (-11.0%) $592,585 (-4.2%) 1.01 395
2023-02-01 $425,000 (-11.5%) $605,604 (-5.8%) 1.03 368
2023-03-01 $439,825 (-10.1%) $615,764 (-8.8%) 1.04 352
2023-04-01 $445,000 (-6.3%) $622,366 (-9.3%) 1.03 350
2023-05-01 $446,248 (-5.5%) $602,037 (-7.0%) 1.01 401
2023-06-01 $450,000 (-4.7%) $652,583 (3.4%) 1.01 435
2023-07-01 $455,000 (5.8%) $622,625 (5.0%) 1.03 484
2023-08-01 $457,150 (4.1%) $649,948 (7.3%) 1.05 511
2023-09-01 $448,800 (2.2%) $642,268 (5.1%) 1.04 508
2023-10-01 $431,498 (1.6%) $632,177 (7.6%) 1.02 491
2023-11-01 $429,900 (4.0%) $634,743 (8.2%) 1.02 462
2023-12-01 $437,738 (4.7%) $648,623 (9.0%) 1.07 414
2024-01-01 $432,200 (5.6%) $666,679 (12.5%) 1.06 365
2024-02-01 $439,000 (3.3%) $681,131 (12.5%) 1.06 346
2024-03-01 $449,000 (2.1%) $694,589 (12.8%) 1.06 344
Redding's median listing price for 2024-03-01 was $449,000, a difference of $9,175 (2.1%) versus the prior year and $10,000 versus the prior month.

Redding's median listing price comes in at 106% of the national average.

Redding's average listing price for 2024-03-01 was $694,589, a difference of $78,825 (12.8%) versus the prior year and $13,458 versus the prior month.

For the 2024-03-01 period, Redding had 344 MLS listings, a difference of -2 listings (-1%) versus the prior month and -8 listings (-2%) 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 81 days 1,801 sqft
2018-02-01 63 days 1,802 sqft
2018-03-01 52 days 1,827 sqft
2018-04-01 53 days 1,814 sqft
2018-05-01 47 days 1,830 sqft
2018-06-01 51 days 1,818 sqft
2018-07-01 58 days 1,774 sqft
2018-08-01 61 days 1,754 sqft
2018-09-01 60 days 1,785 sqft
2018-10-01 61 days 1,809 sqft
2018-11-01 62 days 1,830 sqft
2018-12-01 72 days 1,827 sqft
2019-01-01 76 days 1,836 sqft
2019-02-01 72 days 1,841 sqft
2019-03-01 61 days 1,827 sqft
2019-04-01 44 days 1,819 sqft
2019-05-01 39 days 1,844 sqft
2019-06-01 45 days 1,810 sqft
2019-07-01 56 days 1,782 sqft
2019-08-01 59 days 1,792 sqft
2019-09-01 59 days 1,805 sqft
2019-10-01 62 days 1,828 sqft
2019-11-01 65 days 1,840 sqft
2019-12-01 79 days 1,819 sqft
2020-01-01 84 days 1,832 sqft
2020-02-01 60 days 1,819 sqft
2020-03-01 46 days 1,882 sqft
2020-04-01 49 days 1,895 sqft
2020-05-01 49 days 1,924 sqft
2020-06-01 52 days 1,978 sqft
2020-07-01 61 days 1,978 sqft
2020-08-01 52 days 1,908 sqft
2020-09-01 38 days 1,904 sqft
2020-10-01 40 days 1,899 sqft
2020-11-01 46 days 1,897 sqft
2020-12-01 61 days 1,919 sqft
2021-01-01 70 days 1,940 sqft
2021-02-01 33 days 1,901 sqft
2021-03-01 30 days 1,901 sqft
2021-04-01 25 days 1,862 sqft
2021-05-01 21 days 1,906 sqft
2021-06-01 28 days 1,952 sqft
2021-07-01 29 days 1,868 sqft
2021-08-01 36 days 1,865 sqft
2021-09-01 42 days 1,883 sqft
2021-10-01 39 days 1,888 sqft
2021-11-01 41 days 1,854 sqft
2021-12-01 48 days 1,841 sqft
2022-01-01 58 days 1,830 sqft
2022-02-01 36 days 1,839 sqft
2022-03-01 28 days 1,861 sqft
2022-04-01 29 days 1,845 sqft
2022-05-01 35 days 1,828 sqft
2022-06-01 35 days 1,820 sqft
2022-07-01 37 days 1,747 sqft
2022-08-01 50 days 1,761 sqft
2022-09-01 50 days 1,774 sqft
2022-10-01 52 days 1,736 sqft
2022-11-01 63 days 1,736 sqft
2022-12-01 72 days 1,736 sqft
2023-01-01 81 days 1,736 sqft
2023-02-01 71 days 1,736 sqft
2023-03-01 60 days 1,779 sqft
2023-04-01 43 days 1,799 sqft
2023-05-01 36 days 1,753 sqft
2023-06-01 40 days 1,800 sqft
2023-07-01 43 days 1,824 sqft
2023-08-01 50 days 1,856 sqft
2023-09-01 51 days 1,800 sqft
2023-10-01 57 days 1,775 sqft
2023-11-01 65 days 1,780 sqft
2023-12-01 74 days 1,799 sqft
2024-01-01 71 days 1,790 sqft
2024-02-01 54 days 1,781 sqft
2024-03-01 46 days 1,828 sqft
Redding's median listing age (time on market) for 2024-03-01 was 46 days. This is -24% shorter than the same period one year ago.

Redding's median square footage for active listings during the 2024-03-01 period was 1,828 sqft. One year prior, the average listing was 1,779 sqft.