Roanoke USDA Loan Rates, Closing Costs & Stats
ROANOKE, 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.
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
6.57%
for the week of 2024-12-13, compared to the national average (all USDA variants) of
6.303% for the same period.
Roanoke's average USDA mortgage closing costs are $4,908.
The average rate for the prior week (2024-12-06) was
6.51% and
one month ago for the week of 2024-11-08, the
average rate was 6.73%.
The average rate one year ago was 6.79%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.88%.
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $239,925 (9.3%) | $335,605 (5.6%) | 0.89 | 1,372 |
2018-02-01 | $248,975 (13.2%) | $336,803 (5.2%) | 0.90 | 1,372 |
2018-03-01 | $249,250 (10.6%) | $339,295 (4.0%) | 0.87 | 1,424 |
2018-04-01 | $252,500 (7.5%) | $349,732 (4.5%) | 0.86 | 1,480 |
2018-05-01 | $254,950 (6.5%) | $356,192 (6.0%) | 0.85 | 1,600 |
2018-06-01 | $264,925 (8.1%) | $369,179 (9.4%) | 0.88 | 1,582 |
2018-07-01 | $261,850 (6.9%) | $368,607 (8.5%) | 0.87 | 1,600 |
2018-08-01 | $259,950 (8.3%) | $364,518 (7.6%) | 0.87 | 1,617 |
2018-09-01 | $254,950 (4.1%) | $365,562 (5.9%) | 0.86 | 1,587 |
2018-10-01 | $249,897 (4.1%) | $355,775 (2.8%) | 0.85 | 1,575 |
2018-11-01 | $254,950 (8.8%) | $361,690 (8.3%) | 0.86 | 1,491 |
2018-12-01 | $249,500 (4.0%) | $358,083 (4.2%) | 0.86 | 1,377 |
2019-01-01 | $252,725 (5.3%) | $355,382 (5.9%) | 0.87 | 1,274 |
2019-02-01 | $256,975 (3.2%) | $361,532 (7.3%) | 0.87 | 1,234 |
2019-03-01 | $266,414 (6.9%) | $368,835 (8.7%) | 0.87 | 1,239 |
2019-04-01 | $273,927 (8.5%) | $372,204 (6.4%) | 0.87 | 1,254 |
2019-05-01 | $288,313 (13.1%) | $374,477 (5.1%) | 0.90 | 1,274 |
2019-06-01 | $285,950 (7.9%) | $369,963 (0.2%) | 0.89 | 1,309 |
2019-07-01 | $281,175 (7.4%) | $371,894 (0.9%) | 0.88 | 1,292 |
2019-08-01 | $278,564 (7.2%) | $373,794 (2.5%) | 0.88 | 1,263 |
2019-09-01 | $276,559 (8.5%) | $378,719 (3.6%) | 0.89 | 1,247 |
2019-10-01 | $275,223 (10.1%) | $380,950 (7.1%) | 0.89 | 1,237 |
2019-11-01 | $279,000 (9.4%) | $385,687 (6.6%) | 0.91 | 1,204 |
2019-12-01 | $275,925 (10.6%) | $381,701 (6.6%) | 0.92 | 1,087 |
2020-01-01 | $269,925 (6.8%) | $379,981 (6.9%) | 0.90 | 1,016 |
2020-02-01 | $276,825 (7.7%) | $392,209 (8.5%) | 0.91 | 938 |
2020-03-01 | $275,950 (3.6%) | $390,496 (5.9%) | 0.87 | 954 |
2020-04-01 | $279,950 (2.2%) | $388,271 (4.3%) | 0.88 | 987 |
2020-05-01 | $295,000 (2.3%) | $408,741 (9.2%) | 0.90 | 866 |
2020-06-01 | $307,461 (7.5%) | $420,394 (13.6%) | 0.91 | 827 |
2020-07-01 | $299,182 (6.4%) | $412,659 (11.0%) | 0.87 | 737 |
2020-08-01 | $299,700 (7.6%) | $417,516 (11.7%) | 0.86 | 680 |
2020-09-01 | $286,475 (3.6%) | $416,273 (9.9%) | 0.82 | 696 |
2020-10-01 | $274,950 (-0.1%) | $403,565 (5.9%) | 0.79 | 675 |
2020-11-01 | $272,473 (-2.3%) | $411,754 (6.8%) | 0.80 | 628 |
2020-12-01 | $267,746 (-3.0%) | $400,875 (5.0%) | 0.80 | 567 |
2021-01-01 | $272,500 (1.0%) | $398,263 (4.8%) | 0.81 | 484 |
2021-02-01 | $287,613 (3.9%) | $423,177 (7.9%) | 0.84 | 371 |
2021-03-01 | $294,950 (6.9%) | $429,201 (9.9%) | 0.84 | 354 |
2021-04-01 | $292,713 (4.6%) | $419,213 (8.0%) | 0.79 | 357 |
2021-05-01 | $282,950 (-4.1%) | $399,920 (-2.2%) | 0.75 | 389 |
2021-06-01 | $289,475 (-5.9%) | $403,790 (-4.0%) | 0.76 | 450 |
2021-07-01 | $289,925 (-3.1%) | $389,350 (-5.7%) | 0.77 | 493 |
2021-08-01 | $279,475 (-6.8%) | $395,072 (-5.4%) | 0.75 | 517 |
2021-09-01 | $289,950 (1.2%) | $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 (13.0%) | $428,808 (7.0%) | 0.82 | 363 |
2022-01-01 | $317,950 (16.7%) | $439,475 (10.4%) | 0.86 | 299 |
2022-02-01 | $326,700 (13.6%) | $460,856 (8.9%) | 0.85 | 267 |
2022-03-01 | $325,065 (10.2%) | $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 (18.8%) | $499,277 (23.7%) | 0.77 | 416 |
2022-07-01 | $349,450 (20.5%) | $486,365 (24.9%) | 0.79 | 452 |
2022-08-01 | $326,200 (16.7%) | $465,622 (17.9%) | 0.75 | 419 |
2022-09-01 | $341,463 (17.8%) | $470,078 (18.3%) | 0.80 | 419 |
2022-10-01 | $337,925 (15.4%) | $446,700 (9.9%) | 0.80 | 451 |
2022-11-01 | $329,975 (13.8%) | $450,571 (9.7%) | 0.79 | 457 |
2022-12-01 | $339,950 (12.4%) | $453,026 (5.7%) | 0.84 | 429 |
2023-01-01 | $347,250 (9.2%) | $478,288 (8.8%) | 0.86 | 423 |
2023-02-01 | $349,950 (7.1%) | $499,237 (8.3%) | 0.84 | 362 |
2023-03-01 | $368,950 (13.5%) | $513,623 (13.2%) | 0.87 | 340 |
2023-04-01 | $377,475 (21.8%) | $528,828 (19.0%) | 0.88 | 344 |
2023-05-01 | $383,925 (9.9%) | $541,173 (12.0%) | 0.87 | 337 |
2023-06-01 | $375,725 (9.2%) | $542,377 (8.6%) | 0.84 | 384 |
2023-07-01 | $379,000 (8.5%) | $550,288 (13.1%) | 0.86 | 427 |
2023-08-01 | $374,925 (14.9%) | $536,813 (15.3%) | 0.86 | 445 |
2023-09-01 | $365,000 (6.9%) | $518,796 (10.4%) | 0.85 | 485 |
2023-10-01 | $353,725 (4.7%) | $498,625 (11.6%) | 0.83 | 552 |
2023-11-01 | $347,950 (5.5%) | $490,207 (8.8%) | 0.83 | 552 |
2023-12-01 | $349,900 (2.9%) | $479,931 (5.9%) | 0.85 | 513 |
2024-01-01 | $340,873 (-1.8%) | $462,292 (-3.3%) | 0.83 | 487 |
2024-02-01 | $342,499 (-2.1%) | $466,583 (-6.5%) | 0.82 | 441 |
2024-03-01 | $350,000 (-5.1%) | $483,897 (-5.8%) | 0.82 | 436 |
2024-04-01 | $361,113 (-4.3%) | $496,527 (-6.1%) | 0.84 | 454 |
2024-05-01 | $379,350 (-1.2%) | $511,250 (-5.5%) | 0.86 | 505 |
2024-06-01 | $379,950 (1.1%) | $525,486 (-3.1%) | 0.85 | 550 |
2024-07-01 | $368,450 (-2.8%) | $501,561 (-8.9%) | 0.84 | 578 |
2024-08-01 | $374,950 (0.0%) | $503,998 (-6.1%) | 0.87 | 619 |
2024-09-01 | $369,975 (1.4%) | $497,737 (-4.1%) | 0.87 | 683 |
2024-10-01 | $364,475 (3.0%) | $502,195 (0.7%) | 0.86 | 654 |
2024-11-01 | $350,000 (0.6%) | $486,410 (-0.8%) | 0.84 | 675 |
Roanoke's median listing price comes in at 84% of the national average.
Roanoke's average listing price for 2024-11-01 was $486,410, a difference of $-3,797 (-0.8%) versus the prior year and $-15,785 versus the prior month.
For the 2024-11-01 period, Roanoke had 675 MLS listings, a difference of 21 listings (3%) versus the prior month and 123 listings (22%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Roanoke (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 91 days | 2,060 sqft |
2018-02-01 | 84 days | 2,062 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 | 2,127 sqft |
2018-12-01 | 82 days | 2,100 sqft |
2019-01-01 | 93 days | 2,089 sqft |
2019-02-01 | 95 days | 2,121 sqft |
2019-03-01 | 79 days | 2,149 sqft |
2019-04-01 | 57 days | 2,166 sqft |
2019-05-01 | 55 days | 2,175 sqft |
2019-06-01 | 61 days | 2,168 sqft |
2019-07-01 | 67 days | 2,157 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 | 2,116 sqft |
2020-01-01 | 89 days | 2,066 sqft |
2020-02-01 | 82 days | 2,121 sqft |
2020-03-01 | 54 days | 2,133 sqft |
2020-04-01 | 57 days | 2,144 sqft |
2020-05-01 | 71 days | 2,200 sqft |
2020-06-01 | 62 days | 2,196 sqft |
2020-07-01 | 58 days | 2,161 sqft |
2020-08-01 | 57 days | 2,200 sqft |
2020-09-01 | 54 days | 2,198 sqft |
2020-10-01 | 55 days | 2,150 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 | 2,147 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 | 2,005 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 | 1,947 sqft |
2022-09-01 | 46 days | 1,977 sqft |
2022-10-01 | 40 days | 2,008 sqft |
2022-11-01 | 44 days | 1,977 sqft |
2022-12-01 | 54 days | 1,960 sqft |
2023-01-01 | 60 days | 2,006 sqft |
2023-02-01 | 63 days | 2,008 sqft |
2023-03-01 | 50 days | 2,044 sqft |
2023-04-01 | 44 days | 2,117 sqft |
2023-05-01 | 43 days | 2,113 sqft |
2023-06-01 | 42 days | 2,100 sqft |
2023-07-01 | 43 days | 2,094 sqft |
2023-08-01 | 45 days | 2,082 sqft |
2023-09-01 | 43 days | 1,980 sqft |
2023-10-01 | 45 days | 1,979 sqft |
2023-11-01 | 50 days | 1,980 sqft |
2023-12-01 | 59 days | 1,939 sqft |
2024-01-01 | 63 days | 1,914 sqft |
2024-02-01 | 61 days | 1,906 sqft |
2024-03-01 | 46 days | 1,908 sqft |
2024-04-01 | 39 days | 1,943 sqft |
2024-05-01 | 33 days | 1,975 sqft |
2024-06-01 | 40 days | 1,998 sqft |
2024-07-01 | 51 days | 1,991 sqft |
2024-08-01 | 51 days | 2,021 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 |
Roanoke's median square footage for active listings during the 2024-11-01 period was 1,970 sqft. One year prior, the average listing was 1,980 sqft.