Richmond USDA Loan Rates, Closing Costs & Stats

Richmond-Berea, KY

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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.

    Richmond's 16 lenders originated 30 USDA loans during 2023. The total origination value was $5,620,000, with an average USDA loan value of $187,333.

    Richmond USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Richmond averaged 6.53% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Richmond's average USDA mortgage closing costs are $4,561.

    The average rate for the prior week (2025-02-07) was 6.58% and one month ago for the week of 2025-01-10, the average rate was 6.23%.

    The average rate one year ago was 6.22%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.62%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Richmond 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 Richmond level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GENEVA FINANCIAL, LLC 7 6.16% $6,805
    DAS Acquisition Company, LLC 4 7.03% $8,791
    STOCKTON MORTGAGE CORPORATION 3 6.75% $7,383
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 7.13% $4,254
    GoPrime Mortgage, Inc. 2 7.06% $7,661
    Paramount Residential Mortgage Group, Inc. 1 6.63% $3,998
    Prosperity Home Mortgage, LLC 1 6.13% $6,487
    Renasant Bank 1 6.63% $5,424
    UNION HOME MORTGAGE CORP. 1 7.75% $7,605
    U.S. Bank 1 7.63% $5,826
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $11,239
    WesBanco 1 5.25% $7,595
    Century Mortgage Company DBA Century Lending Company 1 6.50% $5,029
    Flagstar Bank, FSB 1 6.13% $5,928
    HOMESIDE FINANCIAL, LLC 1 6.38% $7,963
    NEWREZ LLC 1 6.75% $6,689

    The top Richmond USDA lender as defined by loan originations is GENEVA FINANCIAL, LLC, with 7 USDA loans originated. Their average total fees are $6,805, which is $1,985 lower than the next largest lender, DAS Acquisition Company, LLC.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Richmond (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 $184,550 (8.8%) $221,723 (10.6%) 0.00 348
    2018-02-01 $183,175 (11.1%) $221,075 (10.2%) 0.00 329
    2018-03-01 $188,000 (11.6%) $227,809 (10.4%) 0.00 308
    2018-04-01 $196,225 (15.8%) $233,873 (10.5%) 0.00 294
    2018-05-01 $197,950 (13.2%) $235,809 (7.9%) 0.00 318
    2018-06-01 $189,900 (8.5%) $225,902 (1.6%) 0.00 359
    2018-07-01 $189,900 (9.2%) $223,806 (2.4%) 0.00 375
    2018-08-01 $189,900 (5.6%) $225,571 (0.8%) 0.00 403
    2018-09-01 $199,900 (11.1%) $230,878 (3.1%) 0.00 406
    2018-10-01 $209,450 (16.4%) $237,852 (8.8%) 0.00 411
    2018-11-01 $199,400 (9.3%) $238,093 (8.6%) 0.00 403
    2018-12-01 $198,900 (7.6%) $236,189 (6.3%) 0.00 386
    2019-01-01 $197,250 (6.9%) $231,249 (4.3%) 0.00 348
    2019-02-01 $189,900 (3.7%) $240,205 (8.7%) 0.00 350
    2019-03-01 $192,921 (2.6%) $244,505 (7.3%) 0.00 351
    2019-04-01 $202,475 (3.2%) $256,933 (9.9%) 0.00 341
    2019-05-01 $214,175 (8.2%) $266,795 (13.1%) 0.00 322
    2019-06-01 $217,500 (14.5%) $267,543 (18.4%) 0.00 334
    2019-07-01 $219,675 (15.7%) $270,957 (21.1%) 0.00 354
    2019-08-01 $215,427 (13.4%) $267,995 (18.8%) 0.00 375
    2019-09-01 $212,318 (6.2%) $261,743 (13.4%) 0.00 406
    2019-10-01 $210,295 (0.4%) $258,201 (8.6%) 0.00 426
    2019-11-01 $215,000 (7.8%) $258,479 (8.6%) 0.00 412
    2019-12-01 $213,250 (7.2%) $240,182 (1.7%) 0.00 372
    2020-01-01 $215,000 (9.0%) $242,740 (5.0%) 0.00 350
    2020-02-01 $215,000 (13.2%) $242,038 (0.8%) 0.00 332
    2020-03-01 $219,900 (14.0%) $251,932 (3.0%) 0.00 319
    2020-04-01 $219,900 (8.6%) $254,438 (-1.0%) 0.00 315
    2020-05-01 $224,900 (5.0%) $259,660 (-2.7%) 0.00 258
    2020-06-01 $236,425 (8.7%) $265,097 (-0.9%) 0.00 216
    2020-07-01 $239,900 (9.2%) $282,981 (4.4%) 0.00 209
    2020-08-01 $229,950 (6.7%) $314,266 (17.3%) 0.00 183
    2020-09-01 $231,175 (8.9%) $359,347 (37.3%) 0.00 177
    2020-10-01 $239,900 (14.1%) $321,011 (24.3%) 0.00 177
    2020-11-01 $236,400 (10.0%) $316,387 (22.4%) 0.00 185
    2020-12-01 $232,400 (9.0%) $309,929 (29.0%) 0.00 177
    2021-01-01 $234,900 (9.3%) $319,568 (31.7%) 0.00 165
    2021-02-01 $246,975 (14.9%) $330,647 (36.6%) 0.00 144
    2021-03-01 $254,161 (15.6%) $349,012 (38.5%) 0.00 127
    2021-04-01 $245,675 (11.7%) $351,637 (38.2%) 0.00 113
    2021-05-01 $269,900 (20.0%) $365,079 (40.6%) 0.00 114
    2021-06-01 $253,911 (7.4%) $325,541 (22.8%) 0.00 144
    2021-07-01 $249,900 (4.2%) $323,568 (14.3%) 0.00 156
    2021-08-01 $242,950 (5.7%) $276,257 (-12.1%) 0.00 224
    2021-09-01 $240,450 (4.0%) $286,127 (-20.4%) 0.00 222
    2021-10-01 $244,450 (1.9%) $280,558 (-12.6%) 0.00 222
    2021-11-01 $246,450 (4.3%) $281,097 (-11.2%) 0.00 210
    2021-12-01 $249,900 (7.5%) $300,302 (-3.1%) 0.00 180
    2022-01-01 $249,900 (6.4%) $304,452 (-4.7%) 0.00 148
    2022-02-01 $259,900 (5.2%) $323,945 (-2.0%) 0.00 113
    2022-03-01 $267,400 (5.2%) $336,781 (-3.5%) 0.00 110
    2022-04-01 $269,900 (9.9%) $348,121 (-1.0%) 0.00 111
    2022-05-01 $290,700 (7.7%) $342,252 (-6.3%) 0.00 148
    2022-06-01 $288,500 (13.6%) $339,414 (4.3%) 0.00 193
    2022-07-01 $275,000 (10.0%) $330,721 (2.2%) 0.00 214
    2022-08-01 $289,950 (19.4%) $340,895 (23.4%) 0.00 228
    2022-09-01 $294,725 (22.6%) $348,842 (21.9%) 0.00 251
    2022-10-01 $299,900 (22.7%) $353,670 (26.1%) 0.00 283
    2022-11-01 $294,425 (19.5%) $337,107 (19.9%) 0.00 293
    2022-12-01 $289,900 (16.0%) $333,892 (11.2%) 0.00 278
    2023-01-01 $289,900 (16.0%) $342,076 (12.4%) 0.00 263
    2023-02-01 $302,895 (16.5%) $368,416 (13.7%) 0.00 231
    2023-03-01 $314,925 (17.8%) $377,959 (12.2%) 0.00 215
    2023-04-01 $305,841 (13.3%) $377,813 (8.5%) 0.00 180
    2023-05-01 $310,225 (6.7%) $384,077 (12.2%) 0.00 175
    2023-06-01 $316,175 (9.6%) $373,318 (10.0%) 0.00 187
    2023-07-01 $317,450 (15.4%) $364,377 (10.2%) 0.00 199
    2023-08-01 $321,682 (10.9%) $367,088 (7.7%) 0.00 200
    2023-09-01 $309,900 (5.2%) $351,595 (0.8%) 0.00 217
    2023-10-01 $304,950 (1.7%) $347,954 (-1.6%) 0.00 242
    2023-11-01 $318,450 (8.2%) $360,991 (7.1%) 0.00 267
    2023-12-01 $319,900 (10.4%) $360,155 (7.9%) 0.00 241
    2024-01-01 $316,975 (9.3%) $366,816 (7.2%) 0.00 238
    2024-02-01 $321,525 (6.2%) $368,802 (0.1%) 0.00 242
    2024-03-01 $319,900 (1.6%) $375,279 (-0.7%) 0.00 215
    2024-04-01 $314,950 (3.0%) $377,771 (0.0%) 0.00 204
    2024-05-01 $318,911 (2.8%) $375,571 (-2.2%) 0.00 212
    2024-06-01 $312,450 (-1.2%) $363,212 (-2.7%) 0.00 229
    2024-07-01 $308,200 (-2.9%) $353,187 (-3.1%) 0.00 277
    2024-08-01 $300,000 (-6.7%) $354,934 (-3.3%) 0.00 334
    2024-09-01 $299,925 (-3.2%) $356,339 (1.4%) 0.00 360
    2024-10-01 $300,403 (-1.5%) $358,560 (3.1%) 0.00 345
    2024-11-01 $305,900 (-3.9%) $358,428 (-0.7%) 0.00 364
    2024-12-01 $302,475 (-5.5%) $345,405 (-4.1%) 0.00 332
    2025-01-01 $299,900 (-5.4%) $356,054 (-2.9%) 0.00 323
    Richmond's median listing price for 2025-01-01 was $299,900, a difference of $-17,075 (-5.4%) versus the prior year and $-2,575 versus the prior month.

    Richmond's median listing price comes in at 0% of the national average.

    Richmond's average listing price for 2025-01-01 was $356,054, a difference of $-10,762 (-2.9%) versus the prior year and $10,649 versus the prior month.

    For the 2025-01-01 period, Richmond had 323 MLS listings, a difference of -9 listings (-3%) versus the prior month and 85 listings (36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Richmond (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,984 sqft
    2018-02-01 0 days 1,962 sqft
    2018-03-01 0 days 1,931 sqft
    2018-04-01 0 days 1,991 sqft
    2018-05-01 0 days 2,000 sqft
    2018-06-01 0 days 1,940 sqft
    2018-07-01 0 days 1,997 sqft
    2018-08-01 0 days 1,944 sqft
    2018-09-01 0 days 1,973 sqft
    2018-10-01 0 days 1,991 sqft
    2018-11-01 0 days 1,944 sqft
    2018-12-01 0 days 1,900 sqft
    2019-01-01 0 days 1,907 sqft
    2019-02-01 0 days 1,851 sqft
    2019-03-01 0 days 1,878 sqft
    2019-04-01 0 days 1,943 sqft
    2019-05-01 0 days 2,022 sqft
    2019-06-01 0 days 2,005 sqft
    2019-07-01 0 days 2,029 sqft
    2019-08-01 0 days 2,005 sqft
    2019-09-01 0 days 1,993 sqft
    2019-10-01 0 days 1,985 sqft
    2019-11-01 0 days 1,929 sqft
    2019-12-01 0 days 1,866 sqft
    2020-01-01 0 days 1,860 sqft
    2020-02-01 0 days 1,860 sqft
    2020-03-01 0 days 1,936 sqft
    2020-04-01 0 days 1,982 sqft
    2020-05-01 0 days 1,888 sqft
    2020-06-01 0 days 1,916 sqft
    2020-07-01 0 days 1,864 sqft
    2020-08-01 0 days 1,939 sqft
    2020-09-01 0 days 1,982 sqft
    2020-10-01 0 days 2,000 sqft
    2020-11-01 0 days 1,909 sqft
    2020-12-01 0 days 1,835 sqft
    2021-01-01 0 days 1,862 sqft
    2021-02-01 0 days 1,953 sqft
    2021-03-01 0 days 1,989 sqft
    2021-04-01 0 days 1,961 sqft
    2021-05-01 0 days 1,935 sqft
    2021-06-01 0 days 1,938 sqft
    2021-07-01 0 days 1,872 sqft
    2021-08-01 0 days 1,815 sqft
    2021-09-01 0 days 1,770 sqft
    2021-10-01 0 days 1,770 sqft
    2021-11-01 0 days 1,810 sqft
    2021-12-01 0 days 1,800 sqft
    2022-01-01 0 days 1,745 sqft
    2022-02-01 0 days 1,730 sqft
    2022-03-01 0 days 1,715 sqft
    2022-04-01 0 days 1,774 sqft
    2022-05-01 0 days 1,730 sqft
    2022-06-01 0 days 1,787 sqft
    2022-07-01 0 days 1,760 sqft
    2022-08-01 0 days 1,797 sqft
    2022-09-01 0 days 1,817 sqft
    2022-10-01 0 days 1,813 sqft
    2022-11-01 0 days 1,800 sqft
    2022-12-01 0 days 1,742 sqft
    2023-01-01 0 days 1,743 sqft
    2023-02-01 0 days 1,795 sqft
    2023-03-01 0 days 1,916 sqft
    2023-04-01 0 days 1,886 sqft
    2023-05-01 0 days 1,898 sqft
    2023-06-01 0 days 1,878 sqft
    2023-07-01 0 days 1,894 sqft
    2023-08-01 0 days 1,840 sqft
    2023-09-01 0 days 1,820 sqft
    2023-10-01 0 days 1,804 sqft
    2023-11-01 0 days 1,814 sqft
    2023-12-01 0 days 1,810 sqft
    2024-01-01 0 days 1,802 sqft
    2024-02-01 0 days 1,786 sqft
    2024-03-01 0 days 1,800 sqft
    2024-04-01 0 days 1,762 sqft
    2024-05-01 0 days 1,785 sqft
    2024-06-01 0 days 1,793 sqft
    2024-07-01 0 days 1,792 sqft
    2024-08-01 0 days 1,800 sqft
    2024-09-01 0 days 1,799 sqft
    2024-10-01 0 days 1,756 sqft
    2024-11-01 0 days 1,730 sqft
    2024-12-01 0 days 1,707 sqft
    2025-01-01 0 days 1,652 sqft
    Richmond's median listing age (time on market) for 2025-01-01 was 0 days.

    Richmond's median square footage for active listings during the 2025-01-01 period was 1,652 sqft. One year prior, the average listing was 1,802 sqft.