Roanoke USDA Loans
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 41 lenders originated 232 USDA loans during 2021. The total origination value was $44,480,000, with an average USDA loan value of $191,724.
Roanoke USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Roanoke
averaged
5.22%
for the week of 2022-05-20, compared to the national average (all USDA variants) of
5.315% for the same period.
The average rate for the prior week (2022-05-13) was
5.31% and
one month ago for the week of 2022-04-15, the
average rate was 5.2%.
The average rate one year ago was 3.05%.
For refis of the same type during the week of 2022-05-20, the average rate
was 4.93%.
Roanoke USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Roanoke level.
The top Roanoke USDA lender as defined by loan originations is Alcova Mortgage LLC, with
33 USDA loans originated. Their average total fees are
$3,113, which is $3,118
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
SWBC MORTGAGE CORPORATION ($2,679), Alcova Mortgage LLC ($3,113), EMBRACE HOME LOANS, INC. ($5,090), MOVEMENT MORTGAGE, LLC ($5,347) and Integrity Home Mortgage Corp ($5,489).
The lowest rate Roanoke USDA lenders (with over 10 loans originated) are
EMBRACE HOME LOANS, INC. (2.75%), Renasant Bank (2.89%), Alcova Mortgage LLC (2.91%), MOVEMENT MORTGAGE, LLC (2.96%) and Integrity Home Mortgage Corp (3.01%).
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 | $232,225 (12.5%) | $314,305 (5.3%) | 0.86 | 1,340 |
2018-02-01 | $235,950 (14.0%) | $314,819 (5.2%) | 0.85 | 1,339 |
2018-03-01 | $239,500 (9.7%) | $312,484 (2.2%) | 0.83 | 1,371 |
2018-04-01 | $239,925 (6.7%) | $321,901 (3.2%) | 0.81 | 1,417 |
2018-05-01 | $239,950 (5.6%) | $322,532 (3.5%) | 0.80 | 1,545 |
2018-06-01 | $249,950 (8.8%) | $335,522 (6.2%) | 0.83 | 1,520 |
2018-07-01 | $249,925 (8.7%) | $338,449 (7.4%) | 0.83 | 1,530 |
2018-08-01 | $249,475 (8.2%) | $336,164 (6.5%) | 0.83 | 1,551 |
2018-09-01 | $244,950 (6.5%) | $337,656 (5.7%) | 0.82 | 1,525 |
2018-10-01 | $239,500 (4.2%) | $329,350 (2.5%) | 0.80 | 1,504 |
2018-11-01 | $244,950 (7.3%) | $334,916 (8.6%) | 0.82 | 1,414 |
2018-12-01 | $239,900 (4.3%) | $332,398 (4.9%) | 0.82 | 1,305 |
2019-01-01 | $239,725 (3.2%) | $332,914 (5.9%) | 0.83 | 1,222 |
2019-02-01 | $245,675 (4.1%) | $339,706 (7.9%) | 0.82 | 1,181 |
2019-03-01 | $255,329 (6.6%) | $345,756 (10.7%) | 0.83 | 1,180 |
2019-04-01 | $261,604 (9.0%) | $348,254 (8.2%) | 0.82 | 1,190 |
2019-05-01 | $272,475 (13.6%) | $355,032 (10.1%) | 0.84 | 1,212 |
2019-06-01 | $274,950 (10.0%) | $352,039 (4.9%) | 0.85 | 1,234 |
2019-07-01 | $273,975 (9.6%) | $354,425 (4.7%) | 0.85 | 1,230 |
2019-08-01 | $271,643 (8.9%) | $355,266 (5.7%) | 0.85 | 1,209 |
2019-09-01 | $264,925 (8.2%) | $356,097 (5.5%) | 0.84 | 1,191 |
2019-10-01 | $267,300 (11.6%) | $356,914 (8.4%) | 0.85 | 1,197 |
2019-11-01 | $268,000 (9.4%) | $361,421 (7.9%) | 0.86 | 1,153 |
2019-12-01 | $264,975 (10.5%) | $354,961 (6.8%) | 0.88 | 1,047 |
2020-01-01 | $261,975 (9.3%) | $353,399 (6.2%) | 0.87 | 975 |
2020-02-01 | $265,995 (8.3%) | $370,185 (9.0%) | 0.86 | 890 |
2020-03-01 | $269,475 (5.5%) | $374,889 (8.4%) | 0.84 | 904 |
2020-04-01 | $274,975 (5.1%) | $374,356 (7.5%) | 0.86 | 947 |
2020-05-01 | $295,000 (8.3%) | $395,754 (11.5%) | 0.89 | 821 |
2020-06-01 | $299,950 (9.1%) | $394,160 (12.0%) | 0.88 | 783 |
2020-07-01 | $289,475 (5.7%) | $388,087 (9.5%) | 0.83 | 707 |
2020-08-01 | $290,950 (7.1%) | $392,396 (10.5%) | 0.83 | 663 |
2020-09-01 | $279,975 (5.7%) | $392,989 (10.4%) | 0.80 | 686 |
2020-10-01 | $269,995 (1.0%) | $384,344 (7.7%) | 0.77 | 663 |
2020-11-01 | $272,425 (1.7%) | $393,267 (8.8%) | 0.78 | 623 |
2020-12-01 | $269,475 (1.7%) | $380,982 (7.3%) | 0.79 | 562 |
2021-01-01 | $269,900 (3.0%) | $377,344 (6.8%) | 0.79 | 487 |
2021-02-01 | $280,000 (5.3%) | $408,129 (10.3%) | 0.81 | 368 |
2021-03-01 | $297,975 (10.6%) | $418,750 (11.7%) | 0.84 | 348 |
2021-04-01 | $289,975 (5.5%) | $412,391 (10.2%) | 0.78 | 361 |
2021-05-01 | $279,950 (-5.1%) | $395,434 (-0.1%) | 0.74 | 391 |
2021-06-01 | $286,450 (-4.5%) | $396,467 (0.6%) | 0.74 | 442 |
2021-07-01 | $284,975 (-1.6%) | $388,012 (0.0%) | 0.74 | 485 |
2021-08-01 | $275,000 (-5.5%) | $391,906 (-0.1%) | 0.72 | 523 |
2021-09-01 | $289,950 (3.6%) | $392,318 (-0.2%) | 0.76 | 478 |
2021-10-01 | $290,000 (7.4%) | $383,484 (-0.2%) | 0.76 | 493 |
2021-11-01 | $289,925 (6.4%) | $384,783 (-2.2%) | 0.76 | 440 |
2021-12-01 | $299,900 (11.3%) | $397,901 (4.4%) | 0.80 | 358 |
2022-01-01 | $299,990 (11.2%) | $397,702 (5.4%) | 0.80 | 296 |
2022-02-01 | $318,975 (13.9%) | $411,823 (0.9%) | 0.81 | 264 |
2022-03-01 | $311,450 (4.5%) | $404,867 (-3.3%) | 0.77 | 255 |
2022-04-01 | $309,000 (6.6%) | $413,600 (0.3%) | 0.73 | 284 |
Roanoke's median listing price comes in at 73% of the national average.
Roanoke's average listing price for 2022-04-01 was $413,600, a difference of $1,209 (0.3%) versus the prior year and $8,733 versus the prior month.
For the 2022-04-01 period, Roanoke had 284 MLS listings, a difference of 29 listings (11%) versus the prior month and -77 listings (-21%) 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 | 95 days | 2,010 sqft |
2018-02-01 | 94 days | 2,023 sqft |
2018-03-01 | 78 days | 2,063 sqft |
2018-04-01 | 66 days | 2,098 sqft |
2018-05-01 | 59 days | 2,105 sqft |
2018-06-01 | 64 days | 2,112 sqft |
2018-07-01 | 73 days | 2,111 sqft |
2018-08-01 | 75 days | 2,112 sqft |
2018-09-01 | 77 days | 2,112 sqft |
2018-10-01 | 78 days | 2,078 sqft |
2018-11-01 | 84 days | 2,065 sqft |
2018-12-01 | 91 days | 2,052 sqft |
2019-01-01 | 101 days | 2,040 sqft |
2019-02-01 | 103 days | 2,066 sqft |
2019-03-01 | 98 days | 2,115 sqft |
2019-04-01 | 63 days | 2,134 sqft |
2019-05-01 | 61 days | 2,146 sqft |
2019-06-01 | 65 days | 2,146 sqft |
2019-07-01 | 71 days | 2,133 sqft |
2019-08-01 | 72 days | 2,135 sqft |
2019-09-01 | 71 days | 2,135 sqft |
2019-10-01 | 75 days | 2,128 sqft |
2019-11-01 | 81 days | 2,131 sqft |
2019-12-01 | 87 days | 2,107 sqft |
2020-01-01 | 97 days | 2,062 sqft |
2020-02-01 | 95 days | 2,100 sqft |
2020-03-01 | 61 days | 2,131 sqft |
2020-04-01 | 60 days | 2,146 sqft |
2020-05-01 | 74 days | 2,204 sqft |
2020-06-01 | 70 days | 2,200 sqft |
2020-07-01 | 64 days | 2,157 sqft |
2020-08-01 | 61 days | 2,186 sqft |
2020-09-01 | 54 days | 2,206 sqft |
2020-10-01 | 53 days | 2,156 sqft |
2020-11-01 | 56 days | 2,176 sqft |
2020-12-01 | 62 days | 2,164 sqft |
2021-01-01 | 71 days | 2,131 sqft |
2021-02-01 | 71 days | 2,140 sqft |
2021-03-01 | 51 days | 2,070 sqft |
2021-04-01 | 46 days | 2,003 sqft |
2021-05-01 | 42 days | 1,987 sqft |
2021-06-01 | 42 days | 2,000 sqft |
2021-07-01 | 44 days | 1,998 sqft |
2021-08-01 | 46 days | 1,977 sqft |
2021-09-01 | 54 days | 1,998 sqft |
2021-10-01 | 52 days | 2,020 sqft |
2021-11-01 | 52 days | 1,993 sqft |
2021-12-01 | 62 days | 1,991 sqft |
2022-01-01 | 74 days | 2,000 sqft |
2022-02-01 | 72 days | 1,943 sqft |
2022-03-01 | 48 days | 1,898 sqft |
2022-04-01 | 41 days | 1,921 sqft |
Roanoke's median square footage for active listings during the 2022-04-01 period was 1,921 sqft. One year prior, the average listing was 2,003 sqft.