Rochester USDA Loans

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 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.