Rochester USDA Loans

ROCHESTER, NY

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    • 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 5.19% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

    The average rate for the prior week (2022-05-06) was 5.32% and one month ago for the week of 2022-04-08, the average rate was 5.09%.

    The average rate one year ago was 2.9%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.11%.

    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 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. Total Fees
    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 $161,498 (7.7%) $224,175 (6.7%) 0.59 2,161
    2018-02-01 $172,400 (11.3%) $229,444 (5.2%) 0.62 2,112
    2018-03-01 $179,900 (9.1%) $236,472 (5.8%) 0.62 2,174
    2018-04-01 $195,000 (11.5%) $245,194 (5.9%) 0.65 2,324
    2018-05-01 $198,800 (10.5%) $248,460 (4.6%) 0.66 2,561
    2018-06-01 $197,500 (9.8%) $250,187 (5.7%) 0.66 2,792
    2018-07-01 $189,900 (5.6%) $247,082 (2.8%) 0.63 2,947
    2018-08-01 $189,450 (8.3%) $243,592 (3.6%) 0.63 3,053
    2018-09-01 $189,900 (10.5%) $240,685 (3.6%) 0.64 3,006
    2018-10-01 $182,400 (7.6%) $235,728 (1.7%) 0.61 2,930
    2018-11-01 $179,900 (5.9%) $234,744 (1.8%) 0.60 2,718
    2018-12-01 $184,900 (8.8%) $241,503 (4.9%) 0.63 2,338
    2019-01-01 $189,900 (17.6%) $249,750 (11.4%) 0.65 1,982
    2019-02-01 $199,900 (16.0%) $259,596 (13.1%) 0.67 1,906
    2019-03-01 $212,814 (18.3%) $274,288 (16.0%) 0.69 1,882
    2019-04-01 $232,450 (19.2%) $297,303 (21.3%) 0.73 1,885
    2019-05-01 $231,250 (16.3%) $300,100 (20.8%) 0.71 1,979
    2019-06-01 $229,900 (16.4%) $279,315 (11.6%) 0.71 2,158
    2019-07-01 $229,900 (21.1%) $278,928 (12.9%) 0.71 2,271
    2019-08-01 $220,280 (16.3%) $275,209 (13.0%) 0.69 2,285
    2019-09-01 $209,950 (10.6%) $269,168 (11.8%) 0.67 2,292
    2019-10-01 $202,500 (11.0%) $271,710 (15.3%) 0.65 2,334
    2019-11-01 $202,900 (12.8%) $268,768 (14.5%) 0.65 2,102
    2019-12-01 $199,900 (8.1%) $266,326 (10.3%) 0.67 1,827
    2020-01-01 $206,400 (8.7%) $268,033 (7.3%) 0.69 1,566
    2020-02-01 $226,500 (13.3%) $276,773 (6.6%) 0.73 1,428
    2020-03-01 $237,300 (11.5%) $286,743 (4.5%) 0.74 1,466
    2020-04-01 $250,900 (7.9%) $300,970 (1.2%) 0.78 1,392
    2020-05-01 $254,900 (10.2%) $307,009 (2.3%) 0.77 1,383
    2020-06-01 $249,200 (8.4%) $299,610 (7.3%) 0.73 1,483
    2020-07-01 $249,900 (8.7%) $306,985 (10.1%) 0.72 1,445
    2020-08-01 $246,100 (11.7%) $297,592 (8.1%) 0.70 1,389
    2020-09-01 $226,950 (8.1%) $283,134 (5.2%) 0.65 1,394
    2020-10-01 $229,000 (13.1%) $288,642 (6.2%) 0.65 1,322
    2020-11-01 $229,450 (13.1%) $299,943 (11.6%) 0.66 1,190
    2020-12-01 $232,595 (16.4%) $311,073 (16.8%) 0.68 949
    2021-01-01 $259,900 (25.9%) $325,097 (21.3%) 0.76 826
    2021-02-01 $274,900 (21.4%) $337,330 (21.9%) 0.79 748
    2021-03-01 $264,900 (11.6%) $328,963 (14.7%) 0.74 773
    2021-04-01 $249,581 (-0.5%) $317,821 (5.6%) 0.67 810
    2021-05-01 $249,000 (-2.3%) $312,003 (1.6%) 0.66 860
    2021-06-01 $244,450 (-1.9%) $317,702 (6.0%) 0.63 1,022
    2021-07-01 $242,400 (-3.0%) $321,569 (4.8%) 0.63 1,097
    2021-08-01 $229,250 (-6.9%) $316,301 (6.3%) 0.60 1,071
    2021-09-01 $216,950 (-4.4%) $302,913 (7.0%) 0.57 1,077
    2021-10-01 $211,000 (-7.9%) $297,290 (3.0%) 0.56 944
    2021-11-01 $199,900 (-12.9%) $290,643 (-3.1%) 0.53 831
    2021-12-01 $199,000 (-14.4%) $288,038 (-7.4%) 0.53 675
    2022-01-01 $200,000 (-23.1%) $299,481 (-7.9%) 0.53 554
    2022-02-01 $225,000 (-18.2%) $308,629 (-8.5%) 0.57 551
    2022-03-01 $219,950 (-17.0%) $291,484 (-11.4%) 0.54 629
    2022-04-01 $199,999 (-19.9%) $281,224 (-11.5%) 0.47 730
    Rochester's median listing price for 2022-04-01 was $199,999, a difference of $-49,582 (-19.9%) versus the prior year and $-19,951 versus the prior month.

    Rochester's median listing price comes in at 47% of the national average.

    Rochester's average listing price for 2022-04-01 was $281,224, a difference of $-36,597 (-11.5%) versus the prior year and $-10,260 versus the prior month.

    For the 2022-04-01 period, Rochester had 730 MLS listings, a difference of 101 listings (16%) versus the prior month and -80 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 1,715 sqft
    2018-02-01 63 days 1,755 sqft
    2018-03-01 46 days 1,766 sqft
    2018-04-01 37 days 1,773 sqft
    2018-05-01 37 days 1,774 sqft
    2018-06-01 37 days 1,781 sqft
    2018-07-01 40 days 1,773 sqft
    2018-08-01 45 days 1,765 sqft
    2018-09-01 48 days 1,757 sqft
    2018-10-01 52 days 1,746 sqft
    2018-11-01 58 days 1,728 sqft
    2018-12-01 70 days 1,740 sqft
    2019-01-01 72 days 1,729 sqft
    2019-02-01 60 days 1,745 sqft
    2019-03-01 46 days 1,769 sqft
    2019-04-01 36 days 1,803 sqft
    2019-05-01 32 days 1,816 sqft
    2019-06-01 32 days 1,820 sqft
    2019-07-01 36 days 1,818 sqft
    2019-08-01 43 days 1,807 sqft
    2019-09-01 43 days 1,793 sqft
    2019-10-01 44 days 1,787 sqft
    2019-11-01 50 days 1,772 sqft
    2019-12-01 62 days 1,754 sqft
    2020-01-01 64 days 1,741 sqft
    2020-02-01 44 days 1,754 sqft
    2020-03-01 36 days 1,772 sqft
    2020-04-01 47 days 1,766 sqft
    2020-05-01 56 days 1,823 sqft
    2020-06-01 29 days 1,800 sqft
    2020-07-01 29 days 1,802 sqft
    2020-08-01 28 days 1,760 sqft
    2020-09-01 28 days 1,736 sqft
    2020-10-01 30 days 1,732 sqft
    2020-11-01 35 days 1,721 sqft
    2020-12-01 49 days 1,725 sqft
    2021-01-01 55 days 1,733 sqft
    2021-02-01 35 days 1,745 sqft
    2021-03-01 22 days 1,719 sqft
    2021-04-01 15 days 1,718 sqft
    2021-05-01 11 days 1,702 sqft
    2021-06-01 12 days 1,756 sqft
    2021-07-01 17 days 1,739 sqft
    2021-08-01 18 days 1,735 sqft
    2021-09-01 21 days 1,704 sqft
    2021-10-01 23 days 1,697 sqft
    2021-11-01 26 days 1,682 sqft
    2021-12-01 39 days 1,670 sqft
    2022-01-01 41 days 1,696 sqft
    2022-02-01 23 days 1,725 sqft
    2022-03-01 12 days 1,677 sqft
    2022-04-01 10 days 1,662 sqft
    Rochester's median listing age (time on market) for 2022-04-01 was 10 days. This is -33% shorter than the same period one year ago.

    Rochester's median square footage for active listings during the 2022-04-01 period was 1,662 sqft. One year prior, the average listing was 1,718 sqft.