Richmond USDA Loan Rates, Closing Costs & Stats
Richmond-Berea, KY
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
0.1%
for the week of 2024-11-29, compared to the national average (all USDA variants) of
0% for the same period.
Richmond's average USDA mortgage closing costs are $4,561.
The average rate for the prior week (2024-11-22) was
6.6% and
one month ago for the week of 2024-10-25, the
average rate was 6.3%.
The average rate one year ago was 7.2%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.1%.
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $188,450 (6.5%) | $229,599 (9.1%) | 0.00 | 323 |
2018-02-01 | $189,000 (8.7%) | $228,888 (9.4%) | 0.00 | 306 |
2018-03-01 | $194,900 (11.9%) | $236,510 (11.0%) | 0.00 | 279 |
2018-04-01 | $204,450 (16.8%) | $241,850 (11.1%) | 0.00 | 264 |
2018-05-01 | $208,000 (15.6%) | $244,950 (9.1%) | 0.00 | 285 |
2018-06-01 | $195,000 (8.4%) | $235,511 (3.6%) | 0.00 | 322 |
2018-07-01 | $198,500 (10.3%) | $234,474 (4.5%) | 0.00 | 334 |
2018-08-01 | $199,900 (8.4%) | $235,533 (3.1%) | 0.00 | 362 |
2018-09-01 | $217,900 (19.1%) | $241,108 (5.0%) | 0.00 | 366 |
2018-10-01 | $219,700 (20.1%) | $246,239 (9.7%) | 0.00 | 376 |
2018-11-01 | $210,975 (13.7%) | $247,463 (9.6%) | 0.00 | 366 |
2018-12-01 | $209,950 (11.1%) | $245,062 (7.4%) | 0.00 | 347 |
2019-01-01 | $208,950 (10.9%) | $240,202 (4.6%) | 0.00 | 316 |
2019-02-01 | $199,200 (5.4%) | $248,616 (8.6%) | 0.00 | 321 |
2019-03-01 | $203,400 (4.4%) | $252,874 (6.9%) | 0.00 | 319 |
2019-04-01 | $210,500 (3.0%) | $265,724 (9.9%) | 0.00 | 308 |
2019-05-01 | $219,900 (5.7%) | $276,790 (13.0%) | 0.00 | 291 |
2019-06-01 | $226,000 (15.9%) | $278,436 (18.2%) | 0.00 | 302 |
2019-07-01 | $226,450 (14.1%) | $280,812 (19.8%) | 0.00 | 316 |
2019-08-01 | $217,818 (9.0%) | $274,935 (16.7%) | 0.00 | 342 |
2019-09-01 | $214,545 (-1.5%) | $267,368 (10.9%) | 0.00 | 375 |
2019-10-01 | $213,814 (-2.7%) | $263,797 (7.1%) | 0.00 | 397 |
2019-11-01 | $219,900 (4.2%) | $261,759 (5.8%) | 0.00 | 383 |
2019-12-01 | $215,000 (2.4%) | $243,269 (-0.7%) | 0.00 | 348 |
2020-01-01 | $217,350 (4.0%) | $246,776 (2.7%) | 0.00 | 325 |
2020-02-01 | $219,900 (10.4%) | $245,233 (-1.4%) | 0.00 | 303 |
2020-03-01 | $219,900 (8.1%) | $255,449 (1.0%) | 0.00 | 295 |
2020-04-01 | $219,950 (4.5%) | $259,413 (-2.4%) | 0.00 | 288 |
2020-05-01 | $229,000 (4.1%) | $265,851 (-4.0%) | 0.00 | 229 |
2020-06-01 | $238,913 (5.7%) | $270,630 (-2.8%) | 0.00 | 190 |
2020-07-01 | $242,425 (7.1%) | $289,336 (3.0%) | 0.00 | 192 |
2020-08-01 | $235,400 (8.1%) | $325,428 (18.4%) | 0.00 | 164 |
2020-09-01 | $237,025 (10.5%) | $376,082 (40.7%) | 0.00 | 160 |
2020-10-01 | $259,900 (21.6%) | $333,962 (26.6%) | 0.00 | 161 |
2020-11-01 | $249,100 (13.3%) | $330,895 (26.4%) | 0.00 | 169 |
2020-12-01 | $238,400 (10.9%) | $322,673 (32.6%) | 0.00 | 159 |
2021-01-01 | $244,900 (12.7%) | $335,672 (36.0%) | 0.00 | 147 |
2021-02-01 | $254,225 (15.6%) | $341,920 (39.4%) | 0.00 | 134 |
2021-03-01 | $264,000 (20.1%) | $361,134 (41.4%) | 0.00 | 119 |
2021-04-01 | $262,225 (19.2%) | $366,294 (41.2%) | 0.00 | 102 |
2021-05-01 | $279,950 (22.3%) | $386,920 (45.5%) | 0.00 | 102 |
2021-06-01 | $264,900 (10.9%) | $339,619 (25.5%) | 0.00 | 130 |
2021-07-01 | $259,900 (7.2%) | $338,744 (17.1%) | 0.00 | 139 |
2021-08-01 | $254,700 (8.2%) | $287,361 (-11.7%) | 0.00 | 198 |
2021-09-01 | $249,900 (5.4%) | $299,446 (-20.4%) | 0.00 | 195 |
2021-10-01 | $249,900 (-3.9%) | $294,379 (-11.9%) | 0.00 | 192 |
2021-11-01 | $254,500 (2.2%) | $293,964 (-11.2%) | 0.00 | 182 |
2021-12-01 | $255,450 (7.2%) | $309,980 (-3.9%) | 0.00 | 166 |
2022-01-01 | $257,450 (5.1%) | $317,532 (-5.4%) | 0.00 | 134 |
2022-02-01 | $268,450 (5.6%) | $337,826 (-1.2%) | 0.00 | 104 |
2022-03-01 | $268,675 (1.8%) | $345,398 (-4.4%) | 0.00 | 100 |
2022-04-01 | $284,900 (8.7%) | $357,977 (-2.3%) | 0.00 | 103 |
2022-05-01 | $297,175 (6.2%) | $353,181 (-8.7%) | 0.00 | 138 |
2022-06-01 | $292,400 (10.4%) | $347,282 (2.3%) | 0.00 | 185 |
2022-07-01 | $285,000 (9.7%) | $342,617 (1.1%) | 0.00 | 201 |
2022-08-01 | $291,975 (14.6%) | $348,607 (21.3%) | 0.00 | 214 |
2022-09-01 | $299,975 (20.0%) | $357,087 (19.3%) | 0.00 | 236 |
2022-10-01 | $299,950 (20.0%) | $361,516 (22.8%) | 0.00 | 262 |
2022-11-01 | $299,575 (17.7%) | $345,229 (17.4%) | 0.00 | 276 |
2022-12-01 | $298,900 (17.0%) | $340,437 (9.8%) | 0.00 | 263 |
2023-01-01 | $289,900 (12.6%) | $345,575 (8.8%) | 0.00 | 248 |
2023-02-01 | $308,625 (15.0%) | $372,732 (10.3%) | 0.00 | 217 |
2023-03-01 | $324,475 (20.8%) | $385,241 (11.5%) | 0.00 | 202 |
2023-04-01 | $312,900 (9.8%) | $384,931 (7.5%) | 0.00 | 165 |
2023-05-01 | $316,900 (6.6%) | $393,803 (11.5%) | 0.00 | 158 |
2023-06-01 | $319,900 (9.4%) | $380,820 (9.7%) | 0.00 | 171 |
2023-07-01 | $324,232 (13.8%) | $373,352 (9.0%) | 0.00 | 182 |
2023-08-01 | $324,616 (11.2%) | $377,945 (8.4%) | 0.00 | 185 |
2023-09-01 | $315,900 (5.3%) | $360,050 (0.8%) | 0.00 | 199 |
2023-10-01 | $313,450 (4.5%) | $357,039 (-1.2%) | 0.00 | 223 |
2023-11-01 | $322,450 (7.6%) | $370,234 (7.2%) | 0.00 | 250 |
2023-12-01 | $322,576 (7.9%) | $365,498 (7.4%) | 0.00 | 230 |
2024-01-01 | $319,900 (10.4%) | $369,274 (6.9%) | 0.00 | 229 |
2024-02-01 | $322,400 (4.5%) | $368,875 (-1.0%) | 0.00 | 232 |
2024-03-01 | $323,950 (-0.2%) | $375,325 (-2.6%) | 0.00 | 202 |
2024-04-01 | $319,725 (2.2%) | $383,447 (-0.4%) | 0.00 | 188 |
2024-05-01 | $324,900 (2.5%) | $383,742 (-2.6%) | 0.00 | 194 |
2024-06-01 | $315,000 (-1.5%) | $366,790 (-3.7%) | 0.00 | 212 |
2024-07-01 | $309,950 (-4.4%) | $357,045 (-4.4%) | 0.00 | 258 |
2024-08-01 | $303,210 (-6.6%) | $361,276 (-4.4%) | 0.00 | 310 |
2024-09-01 | $303,210 (-4.0%) | $364,275 (1.2%) | 0.00 | 335 |
2024-10-01 | $309,675 (-1.2%) | $365,900 (2.5%) | 0.00 | 324 |
Richmond's median listing price comes in at 0% of the national average.
Richmond's average listing price for 2024-10-01 was $365,900, a difference of $8,861 (2.5%) versus the prior year and $1,625 versus the prior month.
For the 2024-10-01 period, Richmond had 324 MLS listings, a difference of -11 listings (-3%) versus the prior month and 101 listings (45%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Richmond (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,025 sqft |
2018-02-01 | 0 days | 2,000 sqft |
2018-03-01 | 0 days | 1,949 sqft |
2018-04-01 | 0 days | 1,996 sqft |
2018-05-01 | 0 days | 2,000 sqft |
2018-06-01 | 0 days | 2,000 sqft |
2018-07-01 | 0 days | 2,007 sqft |
2018-08-01 | 0 days | 2,000 sqft |
2018-09-01 | 0 days | 2,000 sqft |
2018-10-01 | 0 days | 2,000 sqft |
2018-11-01 | 0 days | 2,007 sqft |
2018-12-01 | 0 days | 1,963 sqft |
2019-01-01 | 0 days | 1,946 sqft |
2019-02-01 | 0 days | 1,869 sqft |
2019-03-01 | 0 days | 1,914 sqft |
2019-04-01 | 0 days | 1,969 sqft |
2019-05-01 | 0 days | 2,057 sqft |
2019-06-01 | 0 days | 2,063 sqft |
2019-07-01 | 0 days | 2,056 sqft |
2019-08-01 | 0 days | 2,032 sqft |
2019-09-01 | 0 days | 2,007 sqft |
2019-10-01 | 0 days | 1,991 sqft |
2019-11-01 | 0 days | 1,920 sqft |
2019-12-01 | 0 days | 1,869 sqft |
2020-01-01 | 0 days | 1,861 sqft |
2020-02-01 | 0 days | 1,893 sqft |
2020-03-01 | 0 days | 1,969 sqft |
2020-04-01 | 0 days | 2,010 sqft |
2020-05-01 | 0 days | 1,936 sqft |
2020-06-01 | 0 days | 1,925 sqft |
2020-07-01 | 0 days | 1,885 sqft |
2020-08-01 | 0 days | 2,010 sqft |
2020-09-01 | 0 days | 2,053 sqft |
2020-10-01 | 0 days | 2,114 sqft |
2020-11-01 | 0 days | 1,966 sqft |
2020-12-01 | 0 days | 1,865 sqft |
2021-01-01 | 0 days | 1,942 sqft |
2021-02-01 | 0 days | 1,976 sqft |
2021-03-01 | 0 days | 2,043 sqft |
2021-04-01 | 0 days | 2,027 sqft |
2021-05-01 | 0 days | 2,036 sqft |
2021-06-01 | 0 days | 1,969 sqft |
2021-07-01 | 0 days | 1,901 sqft |
2021-08-01 | 0 days | 1,850 sqft |
2021-09-01 | 0 days | 1,785 sqft |
2021-10-01 | 0 days | 1,795 sqft |
2021-11-01 | 0 days | 1,822 sqft |
2021-12-01 | 0 days | 1,817 sqft |
2022-01-01 | 0 days | 1,745 sqft |
2022-02-01 | 0 days | 1,739 sqft |
2022-03-01 | 0 days | 1,731 sqft |
2022-04-01 | 0 days | 1,815 sqft |
2022-05-01 | 0 days | 1,779 sqft |
2022-06-01 | 0 days | 1,797 sqft |
2022-07-01 | 0 days | 1,787 sqft |
2022-08-01 | 0 days | 1,800 sqft |
2022-09-01 | 0 days | 1,820 sqft |
2022-10-01 | 0 days | 1,824 sqft |
2022-11-01 | 0 days | 1,813 sqft |
2022-12-01 | 0 days | 1,756 sqft |
2023-01-01 | 0 days | 1,747 sqft |
2023-02-01 | 0 days | 1,822 sqft |
2023-03-01 | 0 days | 1,960 sqft |
2023-04-01 | 0 days | 1,903 sqft |
2023-05-01 | 0 days | 1,912 sqft |
2023-06-01 | 0 days | 1,896 sqft |
2023-07-01 | 0 days | 1,898 sqft |
2023-08-01 | 0 days | 1,870 sqft |
2023-09-01 | 0 days | 1,832 sqft |
2023-10-01 | 0 days | 1,825 sqft |
2023-11-01 | 0 days | 1,843 sqft |
2023-12-01 | 0 days | 1,820 sqft |
2024-01-01 | 0 days | 1,808 sqft |
2024-02-01 | 0 days | 1,802 sqft |
2024-03-01 | 0 days | 1,820 sqft |
2024-04-01 | 0 days | 1,790 sqft |
2024-05-01 | 0 days | 1,820 sqft |
2024-06-01 | 0 days | 1,795 sqft |
2024-07-01 | 0 days | 1,807 sqft |
2024-08-01 | 0 days | 1,832 sqft |
2024-09-01 | 0 days | 1,815 sqft |
2024-10-01 | 0 days | 1,785 sqft |
Richmond's median square footage for active listings during the 2024-10-01 period was 1,785 sqft. One year prior, the average listing was 1,825 sqft.