Richmond USDA Loan Rates, Closing Costs & Stats

RICHMOND, VA

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 36 lenders originated 84 USDA loans during 2024. The total origination value was $23,520,000, with an average USDA loan value of $280,000.

Richmond USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Richmond averaged 0.23% for the week of 2025-06-20, compared to the national average (all USDA variants) of 0% for the same period.

Richmond's average USDA mortgage closing costs are $6,086.

The average rate for the prior week (2025-06-13) was 6.73% and one month ago for the week of 2025-05-16, the average rate was 6.49%.

The average rate one year ago was 6.81%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.03%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 7 6.12% $10,487
United Bank 6 6.14% $7,548
Alcova Mortgage LLC 6 6.50% $5,129
UNITED WHOLESALE MORTGAGE, LLC 6 6.04% $10,376
Integrity Home Mortgage Corp 5 6.50% $9,425
Presidential Bank, FSB 5 6.08% $8,894
C & F Mortgage Corporation 5 6.20% $9,038
TIDEWATER MORTGAGE SERVICES, INC. 3 6.33% $9,230
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.33% $9,194
NVR Mortgage Finance, Inc. 3 6.24% $7,418
NFM, INC. 3 6.33% $12,221
Virginia Credit Union, Inc. 2 6.31% $6,737
First Reliance Bank 2 6.13% $7,695
Loan Simple, Inc. 2 6.63% $12,183
MOVEMENT MORTGAGE, LLC 2 6.13% $9,223
VILLAGE CAPITAL MORTGAGE 2 6.19% $8,614
EVANSVILLE TEACHERS 1 6.63% $7,789
JMAC LENDING, INC. 1 5.63% $5,808
VILLAGE BANK MORTGAGE CORPORATION 1 5.50% $9,406
MEMBER ADVANTAGE MORTGAGE, LLC 1 6.75% $7,132
AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $11,937
MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $7,731
Equity Prime Mortgage LLC 1 5.88% $16,389
NORWICH COMMERCIAL GROUP, INC. 1 6.63% $5,401
CMG MORTGAGE, INC. 1 6.63% $7,320
CHURCHILL MORTGAGE CORPORATION 1 6.49% $7,074
Prosperity Home Mortgage, LLC 1 5.99% $5,561
SUMMIT FUNDING, INC. 1 6.63% $9,736
Century Mortgage Company DBA Century Lending Company 1 5.88% $14,343
Towne Bank 1 6.75% $6,427
UNION HOME MORTGAGE CORP. 1 7.00% $6,083
Atlantic Union Bank 1 6.50% $8,723
First Heritage Mortgage, LLC 1 5.50% $8,812
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.63% $7,770
Flagstar Bank, FSB 1 6.66% $10,267
GENEVA FINANCIAL, LLC 1 6.00% $12,670

The top Richmond USDA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 7 USDA loans originated. Their average total fees are $10,487, which is $2,940 higher than the next largest lender, United Bank.

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

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