Rochester USDA Loan Rates, Closing Costs & Stats

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 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.