Rochester USDA Loan Rates, Closing Costs & Stats

ROCHESTER, NY

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.

Rochester's 24 lenders originated 174 USDA loans during 2021. The total origination value was $23,570,000, with an average USDA loan value of $135,460.

Rochester USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Rochester averaged 6.43% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Rochester's average USDA mortgage closing costs are $4,321.

The average rate for the prior week (2022-11-25) was 6.77% and one month ago for the week of 2022-10-28, the average rate was 7.04%.

The average rate one year ago was 3.34%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.45%.

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

Rochester 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 Rochester level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Premium Mortgage Corporation 62 2.91% $3,011
PRIMELENDING, A PLAINSCAPITAL COMPANY 16 3.30% $5,212
MOVEMENT MORTGAGE, LLC 14 3.09% $4,970
HUNT MORTGAGE CORPORATION 11 3.15% $4,906
Genesee Regional Bank 8 3.39% $4,864
HOMESTEAD FUNDING CORP. 6 2.92% $2,511
AMERICAN FINANCIAL NETWORK, INC. 6 3.29% $8,044
CALIBER HOME LOANS, INC. 5 3.15% $4,772
PARAGON HOME LOANS INC. 5 3.05% $3,802
HOME TOWN FUNDING, INC. 5 2.65% $3,276
FINANCE OF AMERICA MORTGAGE LLC 4 2.81% $5,144
PLAZA HOME MORTGAGE, INC. 4 2.91% $4,660
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 3.31% $5,996
1ST PRIORITY MORTGAGE, INC. 3 3.00% $4,780
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.25% $4,365
GUARANTEED RATE, INC. 3 3.04% $5,062
UNITED WHOLESALE MORTGAGE, LLC 3 3.00% $6,448
HOME POINT FINANCIAL CORPORATION 2 2.88% $5,524
AMERICAN FINANCIAL RESOURCES, INC. 2 3.44% $3,472
Equity Prime Mortgage LLC 1 2.75% $5,397
Wells Fargo Bank 1 3.00% $1,010
NEWREZ LLC 1 2.99% $4,171
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.75% $5,806
PARKSIDE LENDING, LLC 1 3.00% $5,472

The top Rochester USDA lender as defined by loan originations is Premium Mortgage Corporation, with 62 USDA loans originated. Their average total fees are $3,011, which is $2,201 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

The lowest fee Rochester USDA lenders (with over 10 loans originated) are Premium Mortgage Corporation ($3,011), HUNT MORTGAGE CORPORATION ($4,906), MOVEMENT MORTGAGE, LLC ($4,970), PRIMELENDING, A PLAINSCAPITAL COMPANY ($5,212) and .

The lowest rate Rochester USDA lenders (with over 10 loans originated) are Premium Mortgage Corporation (2.91%), MOVEMENT MORTGAGE, LLC (3.09%), HUNT MORTGAGE CORPORATION (3.15%), PRIMELENDING, A PLAINSCAPITAL COMPANY (3.30%) and .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Rochester (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 $159,900 (7.2%) $222,645 (8.5%) 0.59 2,099
2018-02-01 $169,900 (10.8%) $227,260 (5.8%) 0.62 2,059
2018-03-01 $179,900 (10.8%) $235,482 (6.6%) 0.63 2,109
2018-04-01 $193,950 (14.1%) $243,792 (7.1%) 0.66 2,256
2018-05-01 $196,550 (9.3%) $248,406 (5.0%) 0.66 2,478
2018-06-01 $194,900 (8.5%) $252,190 (6.7%) 0.65 2,719
2018-07-01 $189,900 (5.6%) $245,600 (3.0%) 0.63 2,869
2018-08-01 $185,000 (5.9%) $241,633 (3.0%) 0.62 2,954
2018-09-01 $184,900 (8.8%) $236,949 (2.1%) 0.62 2,905
2018-10-01 $179,900 (6.5%) $233,235 (0.4%) 0.61 2,846
2018-11-01 $174,900 (4.9%) $231,889 (0.3%) 0.59 2,643
2018-12-01 $179,900 (9.0%) $236,703 (2.5%) 0.62 2,285
2019-01-01 $189,450 (18.5%) $243,675 (9.5%) 0.65 1,923
2019-02-01 $196,400 (15.6%) $254,368 (11.9%) 0.66 1,848
2019-03-01 $212,371 (18.1%) $272,168 (15.6%) 0.69 1,833
2019-04-01 $230,950 (19.1%) $294,129 (20.7%) 0.73 1,842
2019-05-01 $229,900 (17.0%) $295,497 (19.0%) 0.72 1,938
2019-06-01 $229,900 (18.0%) $275,136 (9.1%) 0.72 2,104
2019-07-01 $229,200 (20.7%) $276,164 (12.4%) 0.72 2,217
2019-08-01 $218,109 (17.9%) $275,254 (13.9%) 0.69 2,258
2019-09-01 $207,923 (12.5%) $271,841 (14.7%) 0.67 2,301
2019-10-01 $199,950 (11.2%) $269,007 (15.3%) 0.65 2,314
2019-11-01 $199,900 (14.3%) $266,486 (14.9%) 0.66 2,070
2019-12-01 $199,800 (11.1%) $263,952 (11.5%) 0.67 1,800
2020-01-01 $199,900 (5.5%) $264,208 (8.4%) 0.67 1,547
2020-02-01 $220,100 (12.1%) $272,764 (7.2%) 0.72 1,424
2020-03-01 $232,800 (9.6%) $283,542 (4.2%) 0.73 1,480
2020-04-01 $249,900 (8.2%) $299,027 (1.7%) 0.78 1,384
2020-05-01 $249,990 (8.7%) $305,731 (3.5%) 0.76 1,385
2020-06-01 $242,493 (5.5%) $298,386 (8.5%) 0.71 1,498
2020-07-01 $248,950 (8.6%) $303,701 (10.0%) 0.72 1,452
2020-08-01 $239,900 (10.0%) $292,507 (6.3%) 0.69 1,409
2020-09-01 $221,225 (6.4%) $278,297 (2.4%) 0.63 1,406
2020-10-01 $224,900 (12.5%) $284,491 (5.8%) 0.64 1,331
2020-11-01 $224,950 (12.5%) $297,011 (11.5%) 0.66 1,188
2020-12-01 $231,975 (16.1%) $309,622 (17.3%) 0.69 947
2021-01-01 $249,900 (25.0%) $322,034 (21.9%) 0.75 820
2021-02-01 $272,400 (23.8%) $333,706 (22.3%) 0.79 754
2021-03-01 $259,675 (11.5%) $323,422 (14.1%) 0.74 788
2021-04-01 $245,450 (-1.8%) $313,684 (4.9%) 0.66 821
2021-05-01 $239,900 (-4.0%) $309,885 (1.4%) 0.63 876
2021-06-01 $239,900 (-1.1%) $314,795 (5.5%) 0.63 1,037
2021-07-01 $235,000 (-5.6%) $315,021 (3.7%) 0.62 1,103
2021-08-01 $227,400 (-5.2%) $312,730 (6.9%) 0.61 1,097
2021-09-01 $209,950 (-5.1%) $299,897 (7.8%) 0.56 1,091
2021-10-01 $209,900 (-6.7%) $294,464 (3.5%) 0.56 970
2021-11-01 $199,900 (-11.1%) $289,743 (-2.5%) 0.53 834
2021-12-01 $196,950 (-15.1%) $287,758 (-7.1%) 0.53 682
2022-01-01 $199,900 (-20.0%) $299,695 (-6.9%) 0.54 562
2022-02-01 $222,450 (-18.3%) $305,569 (-8.4%) 0.58 559
2022-03-01 $217,425 (-16.3%) $288,501 (-10.8%) 0.54 646
2022-04-01 $199,900 (-18.6%) $278,220 (-11.3%) 0.48 751
2022-05-01 $222,400 (-7.3%) $304,084 (-1.9%) 0.51 880
2022-06-01 $229,394 (-4.4%) $312,180 (-0.8%) 0.51 983
2022-07-01 $233,639 (-0.6%) $317,792 (0.9%) 0.53 1,026
2022-08-01 $225,000 (-1.1%) $308,997 (-1.2%) 0.52 1,016
2022-09-01 $222,500 (6.0%) $304,727 (1.6%) 0.52 1,007
2022-10-01 $225,000 (7.2%) $315,046 (7.0%) 0.53 984
2022-11-01 $225,950 (13.0%) $317,489 (9.6%) 0.54 921
Rochester's median listing price for 2022-11-01 was $225,950, a difference of $26,050 (13.0%) versus the prior year and $950 versus the prior month.

Rochester's median listing price comes in at 54% of the national average.

Rochester's average listing price for 2022-11-01 was $317,489, a difference of $27,746 (9.6%) versus the prior year and $2,443 versus the prior month.

For the 2022-11-01 period, Rochester had 921 MLS listings, a difference of -63 listings (-6%) versus the prior month and 87 listings (10%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Rochester (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 67 days 1,716 sqft
2018-02-01 62 days 1,759 sqft
2018-03-01 44 days 1,766 sqft
2018-04-01 37 days 1,770 sqft
2018-05-01 37 days 1,770 sqft
2018-06-01 37 days 1,780 sqft
2018-07-01 39 days 1,766 sqft
2018-08-01 44 days 1,755 sqft
2018-09-01 47 days 1,752 sqft
2018-10-01 51 days 1,743 sqft
2018-11-01 57 days 1,724 sqft
2018-12-01 68 days 1,730 sqft
2019-01-01 71 days 1,726 sqft
2019-02-01 59 days 1,730 sqft
2019-03-01 44 days 1,762 sqft
2019-04-01 34 days 1,797 sqft
2019-05-01 32 days 1,806 sqft
2019-06-01 32 days 1,812 sqft
2019-07-01 36 days 1,810 sqft
2019-08-01 40 days 1,800 sqft
2019-09-01 42 days 1,787 sqft
2019-10-01 44 days 1,777 sqft
2019-11-01 51 days 1,768 sqft
2019-12-01 63 days 1,750 sqft
2020-01-01 64 days 1,739 sqft
2020-02-01 43 days 1,744 sqft
2020-03-01 36 days 1,764 sqft
2020-04-01 50 days 1,760 sqft
2020-05-01 57 days 1,809 sqft
2020-06-01 29 days 1,786 sqft
2020-07-01 29 days 1,789 sqft
2020-08-01 29 days 1,752 sqft
2020-09-01 27 days 1,730 sqft
2020-10-01 31 days 1,728 sqft
2020-11-01 36 days 1,711 sqft
2020-12-01 50 days 1,717 sqft
2021-01-01 57 days 1,727 sqft
2021-02-01 35 days 1,740 sqft
2021-03-01 21 days 1,715 sqft
2021-04-01 14 days 1,712 sqft
2021-05-01 11 days 1,700 sqft
2021-06-01 12 days 1,757 sqft
2021-07-01 16 days 1,744 sqft
2021-08-01 17 days 1,733 sqft
2021-09-01 21 days 1,698 sqft
2021-10-01 23 days 1,697 sqft
2021-11-01 25 days 1,684 sqft
2021-12-01 39 days 1,668 sqft
2022-01-01 40 days 1,693 sqft
2022-02-01 24 days 1,712 sqft
2022-03-01 12 days 1,674 sqft
2022-04-01 11 days 1,662 sqft
2022-05-01 11 days 1,706 sqft
2022-06-01 12 days 1,732 sqft
2022-07-01 17 days 1,723 sqft
2022-08-01 23 days 1,695 sqft
2022-09-01 25 days 1,680 sqft
2022-10-01 25 days 1,687 sqft
2022-11-01 31 days 1,702 sqft
Rochester's median listing age (time on market) for 2022-11-01 was 31 days. This is 24% longer than the same period one year ago.

Rochester's median square footage for active listings during the 2022-11-01 period was 1,702 sqft. One year prior, the average listing was 1,684 sqft.