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 47 USDA loans during 2024. The total origination value was $10,255,000, with an average USDA loan value of $218,191.
Roanoke USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Roanoke
averaged
0.18%
for the week of 2025-06-20, compared to the national average (all USDA variants) of
0% for the same period.
Roanoke's average USDA mortgage closing costs are $5,002.
The average rate for the prior week (2025-06-13) was
6.68% and
one month ago for the week of 2025-05-16, the
average rate was 6.84%.
The average rate one year ago was 6.96%.
For refis of the same type during the week of 2025-06-20, the average rate
was 0.16%.
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 | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| Alcova Mortgage LLC | 11 | 6.79% | $3,933 |
| UNION HOME MORTGAGE CORP. | 6 | 6.38% | $8,791 |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | 5 | 6.40% | $8,028 |
| Atlantic Union Bank | 4 | 6.31% | $6,045 |
| GUARANTEED RATE, INC. | 3 | 6.23% | $7,669 |
| AMERICAN FINANCIAL RESOURCES, INC. | 3 | 7.29% | $6,458 |
| UNITED WHOLESALE MORTGAGE, LLC | 2 | 6.12% | $10,758 |
| FREEDOM FIRST | 1 | 5.75% | $10,951 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 4.88% | $12,036 |
| Integrity Home Mortgage Corp | 1 | 6.63% | $7,284 |
| Loan Simple, Inc. | 1 | 7.25% | $12,617 |
| MASON MCDUFFIE MORTGAGE CORPORATION | 1 | 6.00% | $8,825 |
| Plains Commerce Bank | 1 | 6.13% | $12,337 |
| Prosperity Home Mortgage, LLC | 1 | 6.87% | $6,254 |
| SWBC MORTGAGE CORPORATION | 1 | 7.25% | $2,404 |
| The Federal Savings Bank | 1 | 6.00% | $7,732 |
| Equity Prime Mortgage LLC | 1 | 5.88% | $9,805 |
| C & F Mortgage Corporation | 1 | 5.99% | $5,365 |
The top Roanoke USDA lender as defined by loan originations is Alcova Mortgage LLC, with
11 USDA loans originated. Their average total fees are
$3,933, which is $4,858
lower than the next largest lender,
UNION HOME MORTGAGE CORP..
The lowest fee Roanoke USDA lenders (with over 10 loans originated) are
Alcova Mortgage LLC ($3,933), .
The lowest rate Roanoke USDA lenders (with over 10 loans originated) are
Alcova Mortgage LLC (6.79%), .