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 6.28% for the week of 2024-11-08, compared to the national average (all USDA variants) of 6.477% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.55% and one month ago for the week of 2024-10-04, the average rate was 6.07%.

    The average rate one year ago was 7.11%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.37%.

    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 $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 for 2024-10-01 was $309,675, a difference of $-3,775 (-1.2%) versus the prior year and $6,465 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2024-10-01 was 0 days.

    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.