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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.