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
6.71%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Rochester's average USDA mortgage closing costs are $4,431.
The average rate for the prior week (2024-04-12) was
6.76% and
one month ago for the week of 2024-03-15, the
average rate was 6.45%.
The average rate one year ago was 6.59%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.92%.
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 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 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.