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 15 lenders originated 38 USDA loans during 2023. The total origination value was $6,490,000, with an average USDA loan value of $170,789.

Rochester USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Rochester averaged 6.75% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Rochester's average USDA mortgage closing costs are $4,431.

The average rate for the prior week (2024-04-05) was 6.88% and one month ago for the week of 2024-03-08, the average rate was 6.44%.

The average rate one year ago was 6.34%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.66%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Premium Mortgage Corporation 11 6.92% $3,556
PRIMELENDING, A PLAINSCAPITAL COMPANY 7 7.00% $6,879
MOVEMENT MORTGAGE, LLC 3 6.92% $6,517
NEWREZ LLC 2 7.25% $6,902
PLAZA HOME MORTGAGE, INC. 2 5.88% $7,971
AMERICAN FINANCIAL NETWORK, INC. 2 6.88% $7,155
HOME TOWN FUNDING, INC. 1 6.13% $2,523
UNITED WHOLESALE MORTGAGE, LLC 1 6.98% $5,222
1ST PRIORITY MORTGAGE, INC. 1 6.50% $5,651
Valley National Bank 1 5.63% $6,724
AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $6,769
Bank of England 1 7.25% $7,068
CMG MORTGAGE, INC. 1 7.25% $7,675
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $6,327
Genesee Regional Bank 1 6.50% $4,958

The top Rochester USDA lender as defined by loan originations is Premium Mortgage Corporation, with 11 USDA loans originated. Their average total fees are $3,556, which is $3,323 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 ($3,556), .

The lowest rate Rochester USDA lenders (with over 10 loans originated) are Premium Mortgage Corporation (6.92%), .


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%) $222,730 (8.6%) 0.59 2,098
2018-02-01 $169,900 (11.5%) $227,348 (5.9%) 0.62 2,058
2018-03-01 $179,900 (10.8%) $235,666 (6.8%) 0.63 2,108
2018-04-01 $194,700 (14.5%) $243,964 (7.2%) 0.66 2,255
2018-05-01 $196,550 (9.3%) $247,206 (5.7%) 0.66 2,477
2018-06-01 $194,900 (8.6%) $249,512 (6.8%) 0.65 2,716
2018-07-01 $189,900 (5.9%) $245,604 (4.2%) 0.63 2,867
2018-08-01 $185,000 (6.2%) $241,703 (4.2%) 0.62 2,953
2018-09-01 $184,900 (8.8%) $236,971 (3.2%) 0.62 2,904
2018-10-01 $179,900 (6.7%) $233,256 (1.5%) 0.61 2,845
2018-11-01 $174,900 (5.1%) $231,912 (1.5%) 0.59 2,641
2018-12-01 $179,900 (9.0%) $236,774 (3.9%) 0.62 2,284
2019-01-01 $189,450 (18.5%) $243,764 (9.4%) 0.65 1,922
2019-02-01 $196,425 (15.6%) $254,429 (11.9%) 0.66 1,847
2019-03-01 $212,371 (18.1%) $271,313 (15.1%) 0.69 1,831
2019-04-01 $230,950 (18.6%) $291,986 (19.7%) 0.73 1,837
2019-05-01 $229,900 (17.0%) $293,741 (18.8%) 0.72 1,931
2019-06-01 $229,900 (18.0%) $274,637 (10.1%) 0.72 2,098
2019-07-01 $229,450 (20.8%) $276,310 (12.5%) 0.72 2,209
2019-08-01 $218,109 (17.9%) $275,383 (13.9%) 0.69 2,250
2019-09-01 $207,923 (12.5%) $271,950 (14.8%) 0.67 2,293
2019-10-01 $199,950 (11.2%) $269,100 (15.4%) 0.65 2,306
2019-11-01 $199,900 (14.3%) $266,591 (15.0%) 0.66 2,061
2019-12-01 $199,900 (11.1%) $264,053 (11.5%) 0.67 1,792
2020-01-01 $199,950 (5.5%) $264,322 (8.4%) 0.67 1,539
2020-02-01 $224,900 (14.5%) $272,929 (7.3%) 0.74 1,416
2020-03-01 $234,900 (10.6%) $283,623 (4.5%) 0.74 1,472
2020-04-01 $249,900 (8.2%) $299,214 (2.5%) 0.78 1,375
2020-05-01 $249,999 (8.7%) $306,059 (4.2%) 0.76 1,376
2020-06-01 $243,544 (5.9%) $298,593 (8.7%) 0.72 1,491
2020-07-01 $249,125 (8.6%) $303,932 (10.0%) 0.72 1,445
2020-08-01 $239,900 (10.0%) $292,701 (6.3%) 0.69 1,402
2020-09-01 $222,400 (7.0%) $278,434 (2.4%) 0.64 1,399
2020-10-01 $224,900 (12.5%) $284,662 (5.8%) 0.64 1,324
2020-11-01 $225,000 (12.6%) $297,271 (11.5%) 0.66 1,181
2020-12-01 $232,125 (16.1%) $310,034 (17.4%) 0.69 940
2021-01-01 $250,000 (25.0%) $322,584 (22.0%) 0.75 813
2021-02-01 $274,675 (22.1%) $334,347 (22.5%) 0.80 748
2021-03-01 $262,194 (11.6%) $323,955 (14.2%) 0.74 782
2021-04-01 $246,950 (-1.2%) $314,150 (5.0%) 0.67 815
2021-05-01 $242,900 (-2.8%) $310,050 (1.3%) 0.65 871
2021-06-01 $239,900 (-1.5%) $314,934 (5.5%) 0.63 1,033
2021-07-01 $238,500 (-4.3%) $315,198 (3.7%) 0.63 1,098
2021-08-01 $227,400 (-5.2%) $313,129 (7.0%) 0.61 1,093
2021-09-01 $212,400 (-4.5%) $300,260 (7.8%) 0.57 1,086
2021-10-01 $210,000 (-6.6%) $294,758 (3.6%) 0.56 964
2021-11-01 $199,900 (-11.2%) $290,055 (-2.4%) 0.53 828
2021-12-01 $197,400 (-15.0%) $288,289 (-7.0%) 0.53 676
2022-01-01 $199,999 (-20.0%) $299,942 (-7.0%) 0.54 557
2022-02-01 $224,950 (-18.1%) $306,469 (-8.3%) 0.59 554
2022-03-01 $219,900 (-16.1%) $289,147 (-10.7%) 0.55 641
2022-04-01 $199,900 (-19.1%) $278,479 (-11.4%) 0.48 745
2022-05-01 $222,400 (-8.4%) $304,422 (-1.8%) 0.51 874
2022-06-01 $229,450 (-4.4%) $312,467 (-0.8%) 0.51 977
2022-07-01 $234,900 (-1.5%) $318,018 (0.9%) 0.53 1,021
2022-08-01 $225,000 (-1.1%) $309,191 (-1.3%) 0.52 1,011
2022-09-01 $223,900 (5.4%) $304,896 (1.5%) 0.52 1,002
2022-10-01 $225,000 (7.1%) $315,266 (7.0%) 0.53 979
2022-11-01 $226,950 (13.5%) $317,738 (9.5%) 0.55 916
2022-12-01 $242,400 (22.8%) $333,546 (15.7%) 0.60 785
2023-01-01 $233,450 (16.7%) $329,746 (9.9%) 0.58 692
2023-02-01 $232,450 (3.3%) $328,826 (7.3%) 0.56 692
2023-03-01 $257,400 (17.1%) $338,577 (17.1%) 0.61 694
2023-04-01 $264,900 (32.5%) $336,160 (20.7%) 0.62 735
2023-05-01 $264,975 (19.1%) $333,533 (9.6%) 0.60 761
2023-06-01 $274,338 (19.6%) $344,660 (10.3%) 0.62 866
2023-07-01 $259,450 (10.5%) $355,785 (11.9%) 0.59 892
2023-08-01 $249,900 (11.1%) $339,043 (9.7%) 0.57 894
2023-09-01 $249,900 (11.6%) $349,858 (14.8%) 0.58 886
2023-10-01 $249,949 (11.1%) $349,733 (10.9%) 0.59 907
2023-11-01 $239,450 (5.5%) $334,173 (5.2%) 0.57 851
2023-12-01 $249,900 (3.1%) $338,578 (1.5%) 0.61 734
2024-01-01 $247,400 (6.0%) $331,206 (0.4%) 0.60 636
2024-02-01 $249,950 (7.5%) $335,172 (1.9%) 0.60 654
2024-03-01 $279,900 (8.7%) $355,064 (4.9%) 0.66 666
Rochester's median listing price for 2024-03-01 was $279,900, a difference of $22,500 (8.7%) versus the prior year and $29,950 versus the prior month.

Rochester's median listing price comes in at 66% of the national average.

Rochester's average listing price for 2024-03-01 was $355,064, a difference of $16,487 (4.9%) versus the prior year and $19,892 versus the prior month.

For the 2024-03-01 period, Rochester had 666 MLS listings, a difference of 12 listings (2%) versus the prior month and -28 listings (-4%) 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 65 days 1,716 sqft
2018-02-01 57 days 1,759 sqft
2018-03-01 42 days 1,766 sqft
2018-04-01 35 days 1,770 sqft
2018-05-01 33 days 1,770 sqft
2018-06-01 34 days 1,780 sqft
2018-07-01 38 days 1,766 sqft
2018-08-01 43 days 1,755 sqft
2018-09-01 46 days 1,752 sqft
2018-10-01 47 days 1,743 sqft
2018-11-01 52 days 1,724 sqft
2018-12-01 64 days 1,730 sqft
2019-01-01 66 days 1,726 sqft
2019-02-01 50 days 1,730 sqft
2019-03-01 40 days 1,763 sqft
2019-04-01 32 days 1,797 sqft
2019-05-01 30 days 1,807 sqft
2019-06-01 30 days 1,813 sqft
2019-07-01 33 days 1,812 sqft
2019-08-01 37 days 1,801 sqft
2019-09-01 38 days 1,788 sqft
2019-10-01 41 days 1,778 sqft
2019-11-01 47 days 1,768 sqft
2019-12-01 58 days 1,751 sqft
2020-01-01 59 days 1,739 sqft
2020-02-01 36 days 1,747 sqft
2020-03-01 31 days 1,766 sqft
2020-04-01 45 days 1,760 sqft
2020-05-01 46 days 1,812 sqft
2020-06-01 24 days 1,788 sqft
2020-07-01 25 days 1,791 sqft
2020-08-01 25 days 1,752 sqft
2020-09-01 25 days 1,730 sqft
2020-10-01 26 days 1,728 sqft
2020-11-01 32 days 1,713 sqft
2020-12-01 44 days 1,719 sqft
2021-01-01 46 days 1,729 sqft
2021-02-01 29 days 1,742 sqft
2021-03-01 16 days 1,715 sqft
2021-04-01 11 days 1,713 sqft
2021-05-01 10 days 1,700 sqft
2021-06-01 11 days 1,757 sqft
2021-07-01 15 days 1,744 sqft
2021-08-01 16 days 1,736 sqft
2021-09-01 19 days 1,701 sqft
2021-10-01 22 days 1,699 sqft
2021-11-01 23 days 1,687 sqft
2021-12-01 35 days 1,671 sqft
2022-01-01 37 days 1,695 sqft
2022-02-01 18 days 1,718 sqft
2022-03-01 10 days 1,678 sqft
2022-04-01 10 days 1,664 sqft
2022-05-01 10 days 1,709 sqft
2022-06-01 11 days 1,733 sqft
2022-07-01 16 days 1,727 sqft
2022-08-01 22 days 1,696 sqft
2022-09-01 23 days 1,683 sqft
2022-10-01 24 days 1,689 sqft
2022-11-01 30 days 1,705 sqft
2022-12-01 39 days 1,721 sqft
2023-01-01 44 days 1,699 sqft
2023-02-01 28 days 1,711 sqft
2023-03-01 24 days 1,711 sqft
2023-04-01 16 days 1,727 sqft
2023-05-01 13 days 1,708 sqft
2023-06-01 12 days 1,741 sqft
2023-07-01 15 days 1,748 sqft
2023-08-01 16 days 1,727 sqft
2023-09-01 17 days 1,700 sqft
2023-10-01 19 days 1,704 sqft
2023-11-01 25 days 1,675 sqft
2023-12-01 35 days 1,674 sqft
2024-01-01 33 days 1,666 sqft
2024-02-01 24 days 1,675 sqft
2024-03-01 22 days 1,733 sqft
Rochester's median listing age (time on market) for 2024-03-01 was 22 days. This is -8% shorter than the same period one year ago.

Rochester's median square footage for active listings during the 2024-03-01 period was 1,733 sqft. One year prior, the average listing was 1,711 sqft.