Richmond USDA Loan Rates, Closing Costs & Stats

RICHMOND, VA

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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 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 6.76% for the week of 2025-05-23, compared to the national average (all USDA variants) of 6.433% for the same period.

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

    The average rate for the prior week (2025-05-16) was 6.59% and one month ago for the week of 2025-04-18, the average rate was 6.68%.

    The average rate one year ago was 6.94%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.16%.

    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 .

    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 $290,306 (8.0%) $344,498 (7.0%) 1.08 3,178
    2018-02-01 $299,970 (8.1%) $354,785 (6.0%) 1.09 3,144
    2018-03-01 $314,625 (8.5%) $366,208 (5.7%) 1.10 3,247
    2018-04-01 $323,239 (8.7%) $375,492 (7.6%) 1.10 3,404
    2018-05-01 $324,975 (8.3%) $382,454 (7.3%) 1.09 3,663
    2018-06-01 $319,990 (6.7%) $379,835 (7.2%) 1.07 3,940
    2018-07-01 $324,700 (8.6%) $379,715 (8.3%) 1.08 4,075
    2018-08-01 $314,622 (7.3%) $371,634 (7.7%) 1.05 4,217
    2018-09-01 $309,900 (4.4%) $367,402 (5.1%) 1.04 4,280
    2018-10-01 $304,950 (2.6%) $360,806 (2.7%) 1.03 4,329
    2018-11-01 $308,024 (4.4%) $364,646 (3.8%) 1.04 4,228
    2018-12-01 $309,950 (6.9%) $364,039 (4.7%) 1.07 3,821
    2019-01-01 $309,950 (6.8%) $359,273 (4.3%) 1.07 3,420
    2019-02-01 $319,500 (6.5%) $369,356 (4.1%) 1.08 3,361
    2019-03-01 $327,114 (4.0%) $376,429 (2.8%) 1.07 3,458
    2019-04-01 $334,500 (3.5%) $384,241 (2.3%) 1.06 3,588
    2019-05-01 $337,988 (4.0%) $390,929 (2.2%) 1.06 3,779
    2019-06-01 $335,000 (4.7%) $389,974 (2.7%) 1.05 3,875
    2019-07-01 $332,450 (2.4%) $386,136 (1.7%) 1.04 3,988
    2019-08-01 $326,182 (3.7%) $379,491 (2.1%) 1.03 4,069
    2019-09-01 $322,705 (4.1%) $377,916 (2.9%) 1.03 4,118
    2019-10-01 $319,975 (4.9%) $375,858 (4.2%) 1.03 4,181
    2019-11-01 $315,900 (2.6%) $371,921 (2.0%) 1.04 3,959
    2019-12-01 $322,698 (4.1%) $373,853 (2.7%) 1.08 3,468
    2020-01-01 $324,950 (4.8%) $373,865 (4.1%) 1.09 3,068
    2020-02-01 $332,065 (3.9%) $389,115 (5.4%) 1.09 2,900
    2020-03-01 $346,462 (5.9%) $406,699 (8.0%) 1.09 3,021
    2020-04-01 $349,454 (4.5%) $405,239 (5.5%) 1.09 3,215
    2020-05-01 $356,573 (5.5%) $414,592 (6.1%) 1.08 3,085
    2020-06-01 $359,495 (7.3%) $420,095 (7.7%) 1.06 2,742
    2020-07-01 $358,914 (8.0%) $420,939 (9.0%) 1.04 2,530
    2020-08-01 $359,900 (10.3%) $424,220 (11.8%) 1.03 2,325
    2020-09-01 $356,423 (10.5%) $423,226 (12.0%) 1.02 2,260
    2020-10-01 $360,000 (12.5%) $428,469 (14.0%) 1.03 2,198
    2020-11-01 $362,425 (14.7%) $429,055 (15.4%) 1.06 2,086
    2020-12-01 $364,975 (13.1%) $430,151 (15.1%) 1.09 1,858
    2021-01-01 $368,995 (13.6%) $429,757 (15.0%) 1.10 1,594
    2021-02-01 $370,422 (11.6%) $434,443 (11.7%) 1.08 1,421
    2021-03-01 $369,750 (6.7%) $438,656 (7.9%) 1.05 1,421
    2021-04-01 $366,973 (5.0%) $433,418 (7.0%) 0.99 1,441
    2021-05-01 $357,991 (0.4%) $426,121 (2.8%) 0.95 1,536
    2021-06-01 $350,001 (-2.6%) $425,637 (1.3%) 0.92 1,663
    2021-07-01 $349,000 (-2.8%) $418,632 (-0.6%) 0.92 1,795
    2021-08-01 $349,950 (-2.8%) $420,769 (-0.8%) 0.93 1,837
    2021-09-01 $349,950 (-1.8%) $421,469 (-0.4%) 0.93 1,811
    2021-10-01 $350,000 (-2.8%) $419,803 (-2.0%) 0.93 1,700
    2021-11-01 $350,800 (-3.2%) $422,452 (-1.5%) 0.94 1,571
    2021-12-01 $353,675 (-3.1%) $425,378 (-1.1%) 0.96 1,263
    2022-01-01 $367,252 (-0.5%) $441,049 (2.6%) 0.99 1,035
    2022-02-01 $367,495 (-0.8%) $443,725 (2.1%) 0.96 935
    2022-03-01 $359,778 (-2.7%) $437,655 (-0.2%) 0.90 974
    2022-04-01 $371,925 (1.4%) $450,446 (3.9%) 0.89 1,082
    2022-05-01 $381,801 (6.7%) $460,840 (8.2%) 0.87 1,244
    2022-06-01 $394,823 (12.8%) $468,128 (10.0%) 0.88 1,506
    2022-07-01 $393,365 (12.7%) $458,758 (9.6%) 0.89 1,774
    2022-08-01 $386,853 (10.6%) $463,235 (10.1%) 0.89 1,793
    2022-09-01 $381,925 (9.1%) $458,347 (8.8%) 0.89 1,848
    2022-10-01 $379,970 (8.6%) $460,089 (9.6%) 0.89 1,920
    2022-11-01 $379,913 (8.3%) $450,912 (6.7%) 0.91 2,026
    2022-12-01 $378,088 (6.9%) $449,078 (5.6%) 0.93 1,874
    2023-01-01 $381,169 (3.8%) $449,693 (2.0%) 0.94 1,651
    2023-02-01 $392,500 (6.8%) $464,029 (4.6%) 0.95 1,495
    2023-03-01 $402,445 (11.9%) $476,545 (8.9%) 0.95 1,482
    2023-04-01 $424,950 (14.3%) $502,424 (11.5%) 0.99 1,482
    2023-05-01 $441,200 (15.6%) $517,954 (12.4%) 1.00 1,497
    2023-06-01 $442,258 (12.0%) $522,251 (11.6%) 0.99 1,545
    2023-07-01 $439,900 (11.8%) $518,132 (12.9%) 1.00 1,593
    2023-08-01 $439,125 (13.5%) $507,473 (9.6%) 1.01 1,686
    2023-09-01 $439,450 (15.1%) $513,561 (12.1%) 1.02 1,842
    2023-10-01 $435,000 (14.5%) $518,506 (12.7%) 1.02 2,077
    2023-11-01 $442,270 (16.4%) $525,444 (16.5%) 1.05 2,058
    2023-12-01 $429,999 (13.7%) $511,200 (13.8%) 1.05 1,961
    2024-01-01 $442,970 (16.2%) $521,418 (16.0%) 1.08 1,725
    2024-02-01 $448,678 (14.3%) $528,085 (13.8%) 1.08 1,664
    2024-03-01 $450,000 (11.8%) $535,978 (12.5%) 1.06 1,612
    2024-04-01 $458,767 (8.0%) $544,481 (8.4%) 1.07 1,762
    2024-05-01 $465,000 (5.4%) $552,434 (6.7%) 1.06 2,021
    2024-06-01 $464,091 (4.9%) $553,400 (6.0%) 1.06 2,147
    2024-07-01 $459,365 (4.4%) $542,399 (4.7%) 1.05 2,212
    2024-08-01 $449,990 (2.5%) $533,575 (5.1%) 1.05 2,256
    2024-09-01 $442,475 (0.7%) $519,342 (1.1%) 1.04 2,348
    2024-10-01 $443,450 (1.9%) $519,926 (0.3%) 1.04 2,402
    2024-11-01 $429,900 (-2.8%) $507,186 (-3.5%) 1.03 2,446
    2024-12-01 $419,950 (-2.3%) $496,899 (-2.8%) 1.04 2,161
    2025-01-01 $421,225 (-4.9%) $495,419 (-5.0%) 1.05 1,957
    2025-02-01 $429,653 (-4.2%) $504,526 (-4.5%) 1.04 1,944
    2025-03-01 $444,900 (-1.1%) $518,691 (-3.2%) 1.05 1,967
    2025-04-01 $458,950 (0.0%) $538,194 (-1.2%) 1.06 2,125
    Richmond's median listing price for 2025-04-01 was $458,950, a difference of $183 (0.0%) versus the prior year and $14,050 versus the prior month.

    Richmond's median listing price comes in at 106% of the national average.

    Richmond's average listing price for 2025-04-01 was $538,194, a difference of $-6,287 (-1.2%) versus the prior year and $19,503 versus the prior month.

    For the 2025-04-01 period, Richmond had 2,125 MLS listings, a difference of 158 listings (8%) versus the prior month and 363 listings (21%) 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 68 days 2,179 sqft
    2018-02-01 55 days 2,211 sqft
    2018-03-01 46 days 2,255 sqft
    2018-04-01 45 days 2,294 sqft
    2018-05-01 43 days 2,345 sqft
    2018-06-01 45 days 2,324 sqft
    2018-07-01 49 days 2,304 sqft
    2018-08-01 50 days 2,249 sqft
    2018-09-01 52 days 2,227 sqft
    2018-10-01 55 days 2,195 sqft
    2018-11-01 53 days 2,202 sqft
    2018-12-01 63 days 2,200 sqft
    2019-01-01 66 days 2,185 sqft
    2019-02-01 56 days 2,208 sqft
    2019-03-01 46 days 2,242 sqft
    2019-04-01 42 days 2,272 sqft
    2019-05-01 44 days 2,293 sqft
    2019-06-01 46 days 2,287 sqft
    2019-07-01 50 days 2,271 sqft
    2019-08-01 50 days 2,238 sqft
    2019-09-01 50 days 2,219 sqft
    2019-10-01 50 days 2,203 sqft
    2019-11-01 52 days 2,187 sqft
    2019-12-01 64 days 2,191 sqft
    2020-01-01 68 days 2,200 sqft
    2020-02-01 53 days 2,209 sqft
    2020-03-01 40 days 2,269 sqft
    2020-04-01 44 days 2,280 sqft
    2020-05-01 54 days 2,297 sqft
    2020-06-01 59 days 2,291 sqft
    2020-07-01 55 days 2,253 sqft
    2020-08-01 60 days 2,244 sqft
    2020-09-01 53 days 2,205 sqft
    2020-10-01 53 days 2,201 sqft
    2020-11-01 58 days 2,187 sqft
    2020-12-01 57 days 2,178 sqft
    2021-01-01 53 days 2,125 sqft
    2021-02-01 48 days 2,088 sqft
    2021-03-01 43 days 2,075 sqft
    2021-04-01 40 days 2,082 sqft
    2021-05-01 39 days 2,043 sqft
    2021-06-01 41 days 2,030 sqft
    2021-07-01 39 days 1,979 sqft
    2021-08-01 40 days 2,009 sqft
    2021-09-01 45 days 1,959 sqft
    2021-10-01 51 days 1,964 sqft
    2021-11-01 57 days 1,951 sqft
    2021-12-01 51 days 1,960 sqft
    2022-01-01 71 days 1,997 sqft
    2022-02-01 36 days 1,980 sqft
    2022-03-01 31 days 1,907 sqft
    2022-04-01 32 days 1,927 sqft
    2022-05-01 31 days 1,992 sqft
    2022-06-01 31 days 2,019 sqft
    2022-07-01 35 days 2,000 sqft
    2022-08-01 38 days 1,994 sqft
    2022-09-01 43 days 1,967 sqft
    2022-10-01 40 days 1,962 sqft
    2022-11-01 43 days 1,951 sqft
    2022-12-01 53 days 1,925 sqft
    2023-01-01 59 days 1,937 sqft
    2023-02-01 52 days 1,983 sqft
    2023-03-01 41 days 2,029 sqft
    2023-04-01 38 days 2,066 sqft
    2023-05-01 40 days 2,100 sqft
    2023-06-01 40 days 2,098 sqft
    2023-07-01 43 days 2,094 sqft
    2023-08-01 39 days 2,103 sqft
    2023-09-01 42 days 2,096 sqft
    2023-10-01 41 days 2,087 sqft
    2023-11-01 45 days 2,091 sqft
    2023-12-01 54 days 2,039 sqft
    2024-01-01 61 days 2,054 sqft
    2024-02-01 48 days 2,067 sqft
    2024-03-01 44 days 2,074 sqft
    2024-04-01 41 days 2,086 sqft
    2024-05-01 40 days 2,108 sqft
    2024-06-01 46 days 2,120 sqft
    2024-07-01 41 days 2,093 sqft
    2024-08-01 43 days 2,087 sqft
    2024-09-01 43 days 2,039 sqft
    2024-10-01 41 days 2,046 sqft
    2024-11-01 46 days 2,002 sqft
    2024-12-01 54 days 1,961 sqft
    2025-01-01 56 days 1,957 sqft
    2025-02-01 49 days 1,968 sqft
    2025-03-01 44 days 2,000 sqft
    2025-04-01 36 days 2,075 sqft
    Richmond's median listing age (time on market) for 2025-04-01 was 36 days. This is -12% shorter than the same period one year ago.

    Richmond's median square footage for active listings during the 2025-04-01 period was 2,075 sqft. One year prior, the average listing was 2,086 sqft.