Reno USDA Loan Rates, Closing Costs & Stats
RENO, NV
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.
Reno's 10 lenders originated 24 USDA loans during 2021. The total origination value was $9,670,000, with an average USDA loan value of $402,917.
Reno USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Reno
averaged
6.16%
for the week of 2023-01-27, compared to the national average (all USDA variants) of
6.195% for the same period.
Reno's average USDA mortgage closing costs are $8,021.
The average rate for the prior week (2023-01-20) was
6.25% and
one month ago for the week of 2022-12-23, the
average rate was 6.48%.
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 5.81%.
Reno 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 Reno level.
Name | # of Loans | 2021 Avg. 30yFix Rate | 2021 Avg. Closing Costs |
---|---|---|---|
GUILD MORTGAGE COMPANY | 4 | 2.78% | $10,310 |
SUMMIT FUNDING, INC. | 2 | 3.31% | $7,675 |
HOME POINT FINANCIAL CORPORATION | 2 | 2.69% | $8,148 |
MOVEMENT MORTGAGE, LLC | 2 | 2.50% | $6,641 |
BROKER SOLUTIONS, INC. | 2 | 3.06% | $8,602 |
ISERVE RESIDENTIAL LENDING, LLC | 1 | 2.25% | $9,226 |
Hometown Lenders, Inc. | 1 | 3.25% | $7,099 |
FINANCE OF AMERICA MORTGAGE LLC | 1 | 2.63% | $8,283 |
Flagstar Bank, FSB | 1 | 2.75% | $7,077 |
CELEBRITY HOME LOANS, LLC | 1 | 2.75% | $11,384 |
The top Reno USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with
4 USDA loans originated. Their average total fees are
$10,310, which is $2,635
higher than the next largest lender,
SUMMIT FUNDING, INC..
The lowest fee Reno USDA lenders (with over 10 loans originated) are
.
The lowest rate Reno USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Reno (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $487,175 (13.2%) | $1,196,170 (36.7%) | 1.81 | 804 |
2018-02-01 | $490,009 (12.0%) | $1,196,764 (32.2%) | 1.78 | 774 |
2018-03-01 | $498,248 (15.1%) | $1,140,870 (29.5%) | 1.75 | 781 |
2018-04-01 | $516,782 (18.8%) | $1,134,098 (29.9%) | 1.75 | 859 |
2018-05-01 | $487,000 (8.9%) | $1,057,689 (20.9%) | 1.63 | 974 |
2018-06-01 | $480,000 (6.3%) | $1,024,597 (17.1%) | 1.60 | 1,087 |
2018-07-01 | $469,000 (-0.2%) | $967,089 (-0.9%) | 1.56 | 1,388 |
2018-08-01 | $450,000 (-1.9%) | $924,927 (-2.7%) | 1.51 | 1,588 |
2018-09-01 | $449,000 (-6.3%) | $891,702 (-9.0%) | 1.51 | 1,715 |
2018-10-01 | $429,450 (-8.5%) | $856,172 (-13.5%) | 1.45 | 1,805 |
2018-11-01 | $426,450 (-12.5%) | $858,402 (-17.1%) | 1.45 | 1,744 |
2018-12-01 | $424,000 (-13.5%) | $861,306 (-20.1%) | 1.46 | 1,639 |
2019-01-01 | $427,450 (-12.3%) | $911,122 (-23.8%) | 1.48 | 1,429 |
2019-02-01 | $433,633 (-11.5%) | $953,502 (-20.3%) | 1.46 | 1,312 |
2019-03-01 | $450,657 (-9.6%) | $970,826 (-14.9%) | 1.47 | 1,259 |
2019-04-01 | $460,706 (-10.9%) | $969,572 (-14.5%) | 1.46 | 1,261 |
2019-05-01 | $455,675 (-6.4%) | $921,217 (-12.9%) | 1.42 | 1,462 |
2019-06-01 | $470,000 (-2.1%) | $910,868 (-11.1%) | 1.47 | 1,633 |
2019-07-01 | $472,223 (0.7%) | $911,557 (-5.7%) | 1.48 | 1,794 |
2019-08-01 | $467,909 (4.0%) | $919,331 (-0.6%) | 1.48 | 1,810 |
2019-09-01 | $466,273 (3.9%) | $934,535 (4.8%) | 1.49 | 1,748 |
2019-10-01 | $465,000 (8.3%) | $958,379 (11.9%) | 1.50 | 1,680 |
2019-11-01 | $465,000 (9.0%) | $1,006,078 (17.2%) | 1.52 | 1,489 |
2019-12-01 | $472,200 (11.4%) | $1,074,799 (24.8%) | 1.57 | 1,238 |
2020-01-01 | $479,950 (12.3%) | $1,138,427 (25.0%) | 1.60 | 1,060 |
2020-02-01 | $519,900 (19.9%) | $1,239,134 (30.0%) | 1.70 | 896 |
2020-03-01 | $505,688 (12.2%) | $1,208,551 (24.5%) | 1.58 | 928 |
2020-04-01 | $484,450 (5.2%) | $1,061,953 (9.5%) | 1.52 | 1,154 |
2020-05-01 | $498,250 (9.3%) | $1,076,924 (16.9%) | 1.51 | 1,172 |
2020-06-01 | $539,398 (14.8%) | $1,218,191 (33.7%) | 1.59 | 1,057 |
2020-07-01 | $552,500 (17.0%) | $1,070,394 (17.4%) | 1.60 | 911 |
2020-08-01 | $544,000 (16.3%) | $1,071,989 (16.6%) | 1.56 | 819 |
2020-09-01 | $564,863 (21.1%) | $1,085,744 (16.2%) | 1.62 | 735 |
2020-10-01 | $555,000 (19.4%) | $1,198,513 (25.1%) | 1.59 | 653 |
2020-11-01 | $535,000 (15.1%) | $1,190,683 (18.4%) | 1.56 | 525 |
2020-12-01 | $549,716 (16.4%) | $1,221,882 (13.7%) | 1.63 | 418 |
2021-01-01 | $550,000 (14.6%) | $1,201,484 (5.5%) | 1.64 | 369 |
2021-02-01 | $508,000 (-2.3%) | $1,030,142 (-16.9%) | 1.48 | 324 |
2021-03-01 | $499,000 (-1.3%) | $1,054,960 (-12.7%) | 1.42 | 361 |
2021-04-01 | $507,450 (4.8%) | $901,724 (-15.1%) | 1.37 | 576 |
2021-05-01 | $539,900 (8.4%) | $979,688 (-9.0%) | 1.43 | 434 |
2021-06-01 | $582,500 (8.0%) | $1,044,201 (-14.3%) | 1.53 | 443 |
2021-07-01 | $599,900 (8.6%) | $1,064,240 (-0.6%) | 1.58 | 567 |
2021-08-01 | $599,432 (10.2%) | $1,111,427 (3.7%) | 1.60 | 686 |
2021-09-01 | $599,000 (6.0%) | $1,107,229 (2.0%) | 1.60 | 772 |
2021-10-01 | $624,900 (12.6%) | $1,118,515 (-6.7%) | 1.67 | 766 |
2021-11-01 | $622,500 (16.4%) | $1,169,574 (-1.8%) | 1.66 | 655 |
2021-12-01 | $620,000 (12.8%) | $1,203,806 (-1.5%) | 1.68 | 478 |
2022-01-01 | $642,000 (16.7%) | $1,308,873 (8.9%) | 1.74 | 387 |
2022-02-01 | $639,950 (26.0%) | $1,402,300 (36.1%) | 1.66 | 355 |
2022-03-01 | $639,963 (28.3%) | $1,403,189 (33.0%) | 1.60 | 400 |
2022-04-01 | $684,950 (35.0%) | $1,247,320 (38.3%) | 1.63 | 568 |
2022-05-01 | $681,998 (26.3%) | $1,202,051 (22.7%) | 1.56 | 867 |
2022-06-01 | $672,000 (15.4%) | $1,175,548 (12.6%) | 1.50 | 1,289 |
2022-07-01 | $639,448 (6.6%) | $1,113,598 (4.6%) | 1.45 | 1,593 |
2022-08-01 | $632,500 (5.5%) | $1,087,053 (-2.2%) | 1.46 | 1,666 |
2022-09-01 | $622,225 (3.9%) | $1,069,620 (-3.4%) | 1.46 | 1,613 |
2022-10-01 | $599,950 (-4.0%) | $1,076,908 (-3.7%) | 1.41 | 1,607 |
2022-11-01 | $599,700 (-3.7%) | $1,118,649 (-4.4%) | 1.44 | 1,450 |
2022-12-01 | $599,250 (-3.4%) | $1,146,152 (-4.8%) | 1.50 | 1,193 |
Reno's median listing price comes in at 150% of the national average.
Reno's average listing price for 2022-12-01 was $1,146,152, a difference of $-57,654 (-4.8%) versus the prior year and $27,503 versus the prior month.
For the 2022-12-01 period, Reno had 1,193 MLS listings, a difference of -257 listings (-18%) versus the prior month and 715 listings (150%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Reno (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 83 days | 2,355 sqft |
2018-02-01 | 60 days | 2,329 sqft |
2018-03-01 | 47 days | 2,274 sqft |
2018-04-01 | 46 days | 2,319 sqft |
2018-05-01 | 39 days | 2,147 sqft |
2018-06-01 | 39 days | 2,128 sqft |
2018-07-01 | 40 days | 2,110 sqft |
2018-08-01 | 43 days | 2,084 sqft |
2018-09-01 | 47 days | 2,076 sqft |
2018-10-01 | 53 days | 2,030 sqft |
2018-11-01 | 61 days | 2,009 sqft |
2018-12-01 | 73 days | 2,010 sqft |
2019-01-01 | 81 days | 1,989 sqft |
2019-02-01 | 75 days | 2,020 sqft |
2019-03-01 | 61 days | 2,079 sqft |
2019-04-01 | 45 days | 2,138 sqft |
2019-05-01 | 39 days | 2,109 sqft |
2019-06-01 | 42 days | 2,157 sqft |
2019-07-01 | 45 days | 2,128 sqft |
2019-08-01 | 50 days | 2,116 sqft |
2019-09-01 | 57 days | 2,144 sqft |
2019-10-01 | 63 days | 2,160 sqft |
2019-11-01 | 68 days | 2,128 sqft |
2019-12-01 | 78 days | 2,184 sqft |
2020-01-01 | 79 days | 2,192 sqft |
2020-02-01 | 65 days | 2,279 sqft |
2020-03-01 | 42 days | 2,193 sqft |
2020-04-01 | 42 days | 2,117 sqft |
2020-05-01 | 46 days | 2,186 sqft |
2020-06-01 | 50 days | 2,279 sqft |
2020-07-01 | 48 days | 2,303 sqft |
2020-08-01 | 44 days | 2,199 sqft |
2020-09-01 | 35 days | 2,216 sqft |
2020-10-01 | 46 days | 2,143 sqft |
2020-11-01 | 53 days | 2,091 sqft |
2020-12-01 | 58 days | 2,098 sqft |
2021-01-01 | 54 days | 2,091 sqft |
2021-02-01 | 37 days | 1,910 sqft |
2021-03-01 | 19 days | 1,865 sqft |
2021-04-01 | 18 days | 1,845 sqft |
2021-05-01 | 28 days | 1,855 sqft |
2021-06-01 | 30 days | 1,924 sqft |
2021-07-01 | 29 days | 2,002 sqft |
2021-08-01 | 30 days | 1,988 sqft |
2021-09-01 | 33 days | 1,942 sqft |
2021-10-01 | 38 days | 2,081 sqft |
2021-11-01 | 42 days | 2,036 sqft |
2021-12-01 | 51 days | 2,028 sqft |
2022-01-01 | 53 days | 2,022 sqft |
2022-02-01 | 34 days | 2,012 sqft |
2022-03-01 | 28 days | 2,005 sqft |
2022-04-01 | 26 days | 2,105 sqft |
2022-05-01 | 25 days | 2,063 sqft |
2022-06-01 | 30 days | 2,060 sqft |
2022-07-01 | 37 days | 2,025 sqft |
2022-08-01 | 49 days | 2,033 sqft |
2022-09-01 | 58 days | 2,024 sqft |
2022-10-01 | 63 days | 2,015 sqft |
2022-11-01 | 70 days | 2,017 sqft |
2022-12-01 | 84 days | 2,005 sqft |
Reno's median square footage for active listings during the 2022-12-01 period was 2,005 sqft. One year prior, the average listing was 2,028 sqft.