Roanoke USDA Loan Rates, Closing Costs & Stats

ROANOKE, VA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Roanoke's 18 lenders originated 40 USDA loans during 2023. The total origination value was $8,220,000, with an average USDA loan value of $205,500.

    Roanoke USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Roanoke averaged 6.7% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Roanoke's average USDA mortgage closing costs are $4,908.

    The average rate for the prior week (2025-02-07) was 6.56% and one month ago for the week of 2025-01-10, the average rate was 6.8%.

    The average rate one year ago was 6.79%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.9%.

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

    Roanoke 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 Roanoke level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Alcova Mortgage LLC 8 6.70% $2,358
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 4 6.53% $7,251
    UNION HOME MORTGAGE CORP. 4 6.66% $6,517
    Plains Commerce Bank 3 5.63% $11,188
    Blue Ridge Bank 3 6.42% $5,755
    Atlantic Union Bank 2 5.88% $10,972
    MOVEMENT MORTGAGE, LLC 2 6.94% $8,867
    Renasant Bank 2 6.31% $5,265
    GUARANTEED RATE, INC. 1 6.50% $12,198
    GUILD MORTGAGE COMPANY 1 7.13% $7,817
    Mortgage Research Center, LLC 1 7.50% $3,525
    Truist 1 6.25% $7,191
    First-Citizens Bank & Trust Company 1 6.38% $6,379
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $8,446
    CARDINAL FINANCIAL 1 6.75% $11,977
    SWBC MORTGAGE CORPORATION 1 6.63% $2,980
    First Reliance Bank 1 7.00% $5,402
    Flagstar Bank, FSB 1 7.25% $13,293

    The top Roanoke USDA lender as defined by loan originations is Alcova Mortgage LLC, with 8 USDA loans originated. Their average total fees are $2,358, which is $4,892 lower than the next largest lender, ATLANTIC BAY MORTGAGE GROUP, L.L.C..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Roanoke (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 $239,925 (9.2%) $335,660 (5.7%) 0.89 1,372
    2018-02-01 $248,963 (13.2%) $336,857 (5.2%) 0.90 1,371
    2018-03-01 $249,000 (10.2%) $339,253 (3.9%) 0.87 1,424
    2018-04-01 $252,475 (7.5%) $349,694 (4.4%) 0.86 1,480
    2018-05-01 $254,950 (6.4%) $356,156 (6.0%) 0.85 1,600
    2018-06-01 $264,900 (8.1%) $369,099 (9.4%) 0.88 1,580
    2018-07-01 $261,638 (6.8%) $368,481 (8.6%) 0.87 1,599
    2018-08-01 $259,950 (8.3%) $364,393 (7.5%) 0.87 1,616
    2018-09-01 $254,950 (4.1%) $365,591 (5.9%) 0.86 1,587
    2018-10-01 $249,866 (4.1%) $355,521 (2.7%) 0.85 1,575
    2018-11-01 $254,950 (9.0%) $361,533 (8.3%) 0.86 1,492
    2018-12-01 $249,250 (3.9%) $357,917 (4.2%) 0.86 1,378
    2019-01-01 $252,063 (5.1%) $355,187 (5.8%) 0.87 1,275
    2019-02-01 $256,975 (3.2%) $361,306 (7.3%) 0.87 1,235
    2019-03-01 $266,400 (7.0%) $368,591 (8.7%) 0.87 1,240
    2019-04-01 $273,925 (8.5%) $371,965 (6.4%) 0.87 1,255
    2019-05-01 $288,313 (13.1%) $374,477 (5.1%) 0.90 1,274
    2019-06-01 $285,950 (8.0%) $369,963 (0.2%) 0.89 1,309
    2019-07-01 $279,925 (7.0%) $371,667 (0.9%) 0.88 1,293
    2019-08-01 $278,564 (7.2%) $373,628 (2.5%) 0.88 1,263
    2019-09-01 $276,559 (8.5%) $378,646 (3.6%) 0.89 1,248
    2019-10-01 $275,223 (10.2%) $380,765 (7.1%) 0.89 1,237
    2019-11-01 $279,000 (9.4%) $385,326 (6.6%) 0.91 1,203
    2019-12-01 $275,825 (10.7%) $381,314 (6.5%) 0.92 1,086
    2020-01-01 $269,925 (7.1%) $379,562 (6.9%) 0.90 1,015
    2020-02-01 $276,750 (7.7%) $391,763 (8.4%) 0.91 937
    2020-03-01 $275,913 (3.6%) $390,058 (5.8%) 0.87 953
    2020-04-01 $279,950 (2.2%) $387,847 (4.3%) 0.88 986
    2020-05-01 $295,000 (2.3%) $408,262 (9.0%) 0.90 865
    2020-06-01 $307,438 (7.5%) $419,941 (13.5%) 0.91 826
    2020-07-01 $298,822 (6.8%) $412,203 (10.9%) 0.87 736
    2020-08-01 $299,700 (7.6%) $417,516 (11.8%) 0.86 680
    2020-09-01 $286,000 (3.4%) $416,344 (10.0%) 0.82 695
    2020-10-01 $274,950 (-0.1%) $403,698 (6.0%) 0.79 674
    2020-11-01 $272,473 (-2.3%) $411,912 (6.9%) 0.80 628
    2020-12-01 $268,055 (-2.8%) $400,957 (5.2%) 0.80 568
    2021-01-01 $273,700 (1.4%) $398,276 (4.9%) 0.81 485
    2021-02-01 $287,488 (3.9%) $422,989 (8.0%) 0.84 372
    2021-03-01 $296,088 (7.3%) $429,357 (10.1%) 0.84 354
    2021-04-01 $292,713 (4.6%) $419,213 (8.1%) 0.79 357
    2021-05-01 $282,950 (-4.1%) $399,920 (-2.0%) 0.75 389
    2021-06-01 $290,238 (-5.6%) $404,853 (-3.6%) 0.76 451
    2021-07-01 $289,925 (-3.0%) $391,519 (-5.0%) 0.77 494
    2021-08-01 $279,988 (-6.6%) $395,074 (-5.4%) 0.75 517
    2021-09-01 $289,950 (1.4%) $397,248 (-4.6%) 0.77 473
    2021-10-01 $292,950 (6.6%) $406,326 (0.7%) 0.78 496
    2021-11-01 $289,961 (6.4%) $410,712 (-0.3%) 0.78 446
    2021-12-01 $302,475 (12.8%) $428,808 (7.0%) 0.82 363
    2022-01-01 $317,950 (16.2%) $439,475 (10.3%) 0.86 299
    2022-02-01 $326,700 (13.6%) $460,856 (9.0%) 0.85 267
    2022-03-01 $325,065 (9.8%) $453,828 (5.7%) 0.81 259
    2022-04-01 $309,900 (5.9%) $444,328 (6.0%) 0.74 285
    2022-05-01 $349,475 (23.5%) $483,209 (20.8%) 0.80 338
    2022-06-01 $343,975 (18.5%) $499,277 (23.3%) 0.77 416
    2022-07-01 $349,450 (20.5%) $486,365 (24.2%) 0.79 452
    2022-08-01 $327,425 (16.9%) $465,496 (17.8%) 0.75 420
    2022-09-01 $343,200 (18.4%) $469,943 (18.3%) 0.80 420
    2022-10-01 $337,925 (15.4%) $446,582 (9.9%) 0.80 452
    2022-11-01 $333,738 (15.1%) $450,234 (9.6%) 0.79 459
    2022-12-01 $339,950 (12.4%) $452,880 (5.6%) 0.84 430
    2023-01-01 $348,250 (9.5%) $478,178 (8.8%) 0.86 424
    2023-02-01 $349,950 (7.1%) $499,091 (8.3%) 0.84 362
    2023-03-01 $368,950 (13.5%) $513,623 (13.2%) 0.87 340
    2023-04-01 $379,900 (22.6%) $528,828 (19.0%) 0.88 344
    2023-05-01 $385,913 (10.4%) $540,993 (12.0%) 0.87 337
    2023-06-01 $375,725 (9.2%) $542,377 (8.6%) 0.84 384
    2023-07-01 $379,450 (8.6%) $550,109 (13.1%) 0.86 428
    2023-08-01 $374,936 (14.5%) $537,694 (15.5%) 0.86 446
    2023-09-01 $365,000 (6.4%) $518,577 (10.4%) 0.85 485
    2023-10-01 $354,925 (5.0%) $499,947 (12.0%) 0.83 552
    2023-11-01 $349,494 (4.7%) $491,644 (9.2%) 0.83 553
    2023-12-01 $349,900 (2.9%) $481,587 (6.3%) 0.85 515
    2024-01-01 $342,000 (-1.8%) $464,016 (-3.0%) 0.83 487
    2024-02-01 $344,375 (-1.6%) $467,657 (-6.3%) 0.82 440
    2024-03-01 $352,450 (-4.5%) $484,291 (-5.7%) 0.82 435
    2024-04-01 $362,238 (-4.7%) $496,522 (-6.1%) 0.84 454
    2024-05-01 $374,988 (-2.8%) $506,740 (-6.3%) 0.86 505
    2024-06-01 $374,950 (-0.2%) $504,484 (-7.0%) 0.85 550
    2024-07-01 $368,450 (-2.9%) $501,561 (-8.8%) 0.84 578
    2024-08-01 $374,973 (0.0%) $503,998 (-6.3%) 0.87 619
    2024-09-01 $369,975 (1.4%) $497,737 (-4.0%) 0.87 683
    2024-10-01 $364,475 (2.7%) $502,195 (0.5%) 0.86 654
    2024-11-01 $350,000 (0.1%) $486,410 (-1.1%) 0.84 675
    2024-12-01 $349,800 (0.0%) $477,566 (-0.8%) 0.87 622
    2025-01-01 $343,975 (0.6%) $452,928 (-2.4%) 0.00 564
    Roanoke's median listing price for 2025-01-01 was $343,975, a difference of $1,975 (0.6%) versus the prior year and $-5,825 versus the prior month.

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

    Roanoke's average listing price for 2025-01-01 was $452,928, a difference of $-11,088 (-2.4%) versus the prior year and $-24,638 versus the prior month.

    For the 2025-01-01 period, Roanoke had 564 MLS listings, a difference of -58 listings (-9%) versus the prior month and 77 listings (16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Roanoke (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 91 days 2,060 sqft
    2018-02-01 84 days 2,063 sqft
    2018-03-01 66 days 2,110 sqft
    2018-04-01 58 days 2,136 sqft
    2018-05-01 53 days 2,153 sqft
    2018-06-01 60 days 2,160 sqft
    2018-07-01 70 days 2,151 sqft
    2018-08-01 72 days 2,156 sqft
    2018-09-01 72 days 2,156 sqft
    2018-10-01 74 days 2,119 sqft
    2018-11-01 79 days 2,125 sqft
    2018-12-01 82 days 2,094 sqft
    2019-01-01 93 days 2,088 sqft
    2019-02-01 95 days 2,117 sqft
    2019-03-01 79 days 2,148 sqft
    2019-04-01 57 days 2,165 sqft
    2019-05-01 55 days 2,175 sqft
    2019-06-01 61 days 2,168 sqft
    2019-07-01 67 days 2,156 sqft
    2019-08-01 70 days 2,154 sqft
    2019-09-01 71 days 2,141 sqft
    2019-10-01 72 days 2,131 sqft
    2019-11-01 73 days 2,142 sqft
    2019-12-01 80 days 2,114 sqft
    2020-01-01 89 days 2,064 sqft
    2020-02-01 82 days 2,118 sqft
    2020-03-01 54 days 2,132 sqft
    2020-04-01 57 days 2,144 sqft
    2020-05-01 71 days 2,200 sqft
    2020-06-01 62 days 2,193 sqft
    2020-07-01 58 days 2,160 sqft
    2020-08-01 57 days 2,200 sqft
    2020-09-01 54 days 2,198 sqft
    2020-10-01 55 days 2,152 sqft
    2020-11-01 60 days 2,175 sqft
    2020-12-01 66 days 2,160 sqft
    2021-01-01 67 days 2,131 sqft
    2021-02-01 64 days 2,148 sqft
    2021-03-01 47 days 2,092 sqft
    2021-04-01 42 days 2,005 sqft
    2021-05-01 40 days 2,007 sqft
    2021-06-01 40 days 2,026 sqft
    2021-07-01 43 days 2,006 sqft
    2021-08-01 45 days 1,977 sqft
    2021-09-01 52 days 2,002 sqft
    2021-10-01 49 days 2,019 sqft
    2021-11-01 64 days 2,006 sqft
    2021-12-01 61 days 2,014 sqft
    2022-01-01 84 days 2,031 sqft
    2022-02-01 64 days 2,005 sqft
    2022-03-01 38 days 1,942 sqft
    2022-04-01 35 days 1,934 sqft
    2022-05-01 32 days 2,021 sqft
    2022-06-01 34 days 2,056 sqft
    2022-07-01 40 days 2,031 sqft
    2022-08-01 42 days 1,945 sqft
    2022-09-01 46 days 1,975 sqft
    2022-10-01 40 days 2,007 sqft
    2022-11-01 44 days 1,960 sqft
    2022-12-01 54 days 1,960 sqft
    2023-01-01 60 days 2,004 sqft
    2023-02-01 63 days 2,007 sqft
    2023-03-01 50 days 2,044 sqft
    2023-04-01 44 days 2,117 sqft
    2023-05-01 43 days 2,112 sqft
    2023-06-01 42 days 2,100 sqft
    2023-07-01 43 days 2,087 sqft
    2023-08-01 45 days 2,081 sqft
    2023-09-01 43 days 1,980 sqft
    2023-10-01 45 days 1,981 sqft
    2023-11-01 50 days 1,982 sqft
    2023-12-01 59 days 1,945 sqft
    2024-01-01 63 days 1,914 sqft
    2024-02-01 61 days 1,910 sqft
    2024-03-01 46 days 1,908 sqft
    2024-04-01 39 days 1,942 sqft
    2024-05-01 33 days 1,957 sqft
    2024-06-01 40 days 1,980 sqft
    2024-07-01 51 days 1,991 sqft
    2024-08-01 51 days 2,020 sqft
    2024-09-01 45 days 2,046 sqft
    2024-10-01 53 days 2,016 sqft
    2024-11-01 57 days 1,970 sqft
    2024-12-01 58 days 1,937 sqft
    2025-01-01 0 days 1,905 sqft
    Roanoke's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Roanoke's median square footage for active listings during the 2025-01-01 period was 1,905 sqft. One year prior, the average listing was 1,914 sqft.