Rocky Mount USDA Loan Rates, Closing Costs & Stats

ROCKY MOUNT, NC

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.

Rocky Mount's 15 lenders originated 24 USDA loans during 2023. The total origination value was $5,170,000, with an average USDA loan value of $215,417.

Rocky Mount USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Rocky Mount averaged 6.35% for the week of 2024-07-19, compared to the national average (all USDA variants) of 6.628% for the same period.

Rocky Mount's average USDA mortgage closing costs are $5,845.

The average rate for the prior week (2024-07-12) was 6.67% and one month ago for the week of 2024-06-14, the average rate was 6.41%.

The average rate one year ago was 6.76%.

For refis of the same type during the week of 2024-07-19, the average rate was 6.82%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Rocky Mount 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 Rocky Mount level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
GUARANTEED RATE, INC. 3 5.80% $7,709
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.88% $7,689
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.88% $8,231
NVR Mortgage Finance, Inc. 2 5.38% $8,015
Truist 2 5.56% $6,791
JET HOMELOANS, LLC 1 5.99% $6,600
MORTGAGE INVESTORS GROUP, INC. 1 5.63% $5,689
MOVEMENT MORTGAGE, LLC 1 6.75% $8,670
NFM, INC. 1 5.50% $7,187
The Federal Savings Bank 1 6.75% $7,108
HOMESIDE FINANCIAL, LLC 1 6.75% $16,429
Bank of England 1 6.75% $6,468
Equity Prime Mortgage LLC 1 6.13% $16,366
Flagstar Bank, FSB 1 7.44% $5,422
Alcova Mortgage LLC 1 7.13% $1,909

The top Rocky Mount USDA lender as defined by loan originations is GUARANTEED RATE, INC., with 3 USDA loans originated. Their average total fees are $7,709, which is $20 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Rocky Mount USDA lenders (with over 10 loans originated) are .

The lowest rate Rocky Mount USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Rocky Mount (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 $133,490 (11.3%) $170,429 (11.0%) 0.49 520
2018-02-01 $132,500 (20.6%) $170,486 (-7.3%) 0.48 494
2018-03-01 $135,000 (22.8%) $174,645 (8.0%) 0.47 482
2018-04-01 $141,000 (22.7%) $178,086 (6.6%) 0.48 489
2018-05-01 $133,948 (16.6%) $171,498 (1.9%) 0.45 528
2018-06-01 $135,200 (14.2%) $170,730 (6.8%) 0.45 525
2018-07-01 $135,900 (13.3%) $172,533 (9.4%) 0.45 499
2018-08-01 $144,245 (16.4%) $178,849 (13.9%) 0.48 489
2018-09-01 $144,695 (16.2%) $177,598 (13.2%) 0.49 474
2018-10-01 $142,035 (10.4%) $174,595 (7.2%) 0.48 457
2018-11-01 $135,500 (4.1%) $169,930 (1.5%) 0.46 449
2018-12-01 $138,900 (4.6%) $172,172 (2.0%) 0.48 418
2019-01-01 $134,150 (0.5%) $171,425 (0.6%) 0.46 423
2019-02-01 $134,900 (1.8%) $170,280 (-0.1%) 0.46 432
2019-03-01 $133,681 (-1.0%) $173,101 (-0.9%) 0.44 430
2019-04-01 $132,201 (-6.2%) $178,029 (0.0%) 0.42 428
2019-05-01 $134,945 (0.7%) $182,204 (6.2%) 0.42 425
2019-06-01 $134,900 (-0.2%) $190,301 (11.5%) 0.42 397
2019-07-01 $135,470 (-0.3%) $195,998 (13.6%) 0.42 391
2019-08-01 $135,336 (-6.2%) $191,891 (7.3%) 0.43 393
2019-09-01 $134,416 (-7.1%) $185,613 (4.5%) 0.43 396
2019-10-01 $131,800 (-7.2%) $177,256 (1.5%) 0.43 395
2019-11-01 $134,900 (-0.4%) $177,940 (4.7%) 0.44 382
2019-12-01 $149,800 (7.9%) $185,696 (7.9%) 0.50 327
2020-01-01 $148,548 (10.7%) $185,363 (8.1%) 0.50 318
2020-02-01 $149,950 (11.2%) $190,936 (12.1%) 0.49 315
2020-03-01 $156,900 (17.4%) $198,001 (14.4%) 0.49 306
2020-04-01 $150,000 (13.5%) $197,357 (10.9%) 0.47 297
2020-05-01 $151,950 (12.6%) $198,607 (9.0%) 0.46 269
2020-06-01 $160,000 (18.6%) $206,900 (8.7%) 0.47 216
2020-07-01 $160,000 (18.1%) $217,464 (11.0%) 0.46 191
2020-08-01 $164,000 (21.2%) $212,454 (10.7%) 0.47 170
2020-09-01 $165,999 (23.5%) $216,857 (16.8%) 0.48 151
2020-10-01 $199,900 (51.7%) $229,812 (29.7%) 0.57 172
2020-11-01 $201,200 (49.2%) $222,928 (25.3%) 0.59 170
2020-12-01 $204,800 (36.7%) $229,744 (23.7%) 0.61 176
2021-01-01 $199,000 (34.0%) $227,323 (22.6%) 0.59 164
2021-02-01 $194,650 (29.8%) $231,039 (21.0%) 0.57 139
2021-03-01 $200,625 (27.9%) $238,968 (20.7%) 0.57 125
2021-04-01 $216,850 (44.6%) $249,544 (26.4%) 0.59 116
2021-05-01 $222,000 (46.1%) $255,646 (28.7%) 0.59 112
2021-06-01 $219,850 (37.4%) $251,471 (21.5%) 0.58 144
2021-07-01 $202,450 (26.5%) $239,356 (10.1%) 0.53 167
2021-08-01 $202,995 (23.8%) $252,582 (18.9%) 0.54 201
2021-09-01 $199,650 (20.3%) $252,590 (16.5%) 0.53 210
2021-10-01 $210,000 (5.1%) $263,081 (14.5%) 0.56 187
2021-11-01 $201,250 (0.0%) $249,540 (11.9%) 0.54 210
2021-12-01 $211,895 (3.5%) $254,355 (10.7%) 0.57 186
2022-01-01 $224,900 (13.0%) $263,973 (16.1%) 0.61 152
2022-02-01 $219,900 (13.0%) $247,101 (7.0%) 0.57 111
2022-03-01 $219,500 (9.4%) $249,149 (4.3%) 0.55 91
2022-04-01 $220,320 (1.6%) $246,748 (-1.1%) 0.53 108
2022-05-01 $233,575 (5.2%) $259,827 (1.6%) 0.53 148
2022-06-01 $249,925 (13.7%) $278,334 (10.7%) 0.56 156
2022-07-01 $252,400 (24.7%) $281,478 (17.6%) 0.57 197
2022-08-01 $273,650 (34.8%) $286,569 (13.5%) 0.63 237
2022-09-01 $284,030 (42.3%) $294,249 (16.5%) 0.66 249
2022-10-01 $277,450 (32.1%) $292,338 (11.1%) 0.65 293
2022-11-01 $277,424 (37.9%) $291,946 (17.0%) 0.67 318
2022-12-01 $269,900 (27.4%) $294,643 (15.8%) 0.67 301
2023-01-01 $277,473 (23.4%) $302,689 (14.7%) 0.69 271
2023-02-01 $277,995 (26.4%) $300,512 (21.6%) 0.67 264
2023-03-01 $289,900 (32.1%) $309,481 (24.2%) 0.68 250
2023-04-01 $294,900 (33.9%) $310,232 (25.7%) 0.69 236
2023-05-01 $299,923 (28.4%) $307,694 (18.4%) 0.68 220
2023-06-01 $306,468 (22.6%) $322,357 (15.8%) 0.69 246
2023-07-01 $300,000 (18.9%) $306,259 (8.8%) 0.68 238
2023-08-01 $301,494 (10.2%) $309,281 (7.9%) 0.69 232
2023-09-01 $299,990 (5.6%) $311,177 (5.8%) 0.70 246
2023-10-01 $300,647 (8.4%) $299,349 (2.4%) 0.71 262
2023-11-01 $287,350 (3.6%) $292,729 (0.3%) 0.68 288
2023-12-01 $292,400 (8.3%) $291,301 (-1.1%) 0.71 313
2024-01-01 $288,450 (4.0%) $289,168 (-4.5%) 0.70 299
2024-02-01 $279,598 (0.6%) $287,412 (-4.4%) 0.67 305
2024-03-01 $278,400 (-4.0%) $286,780 (-7.3%) 0.66 307
2024-04-01 $304,900 (3.4%) $298,750 (-3.7%) 0.71 297
2024-05-01 $294,950 (-1.7%) $298,816 (-2.9%) 0.67 319
2024-06-01 $299,900 (-2.1%) $303,278 (-5.9%) 0.67 351
Rocky Mount's median listing price for 2024-06-01 was $299,900, a difference of $-6,568 (-2.1%) versus the prior year and $4,950 versus the prior month.

Rocky Mount's median listing price comes in at 67% of the national average.

Rocky Mount's average listing price for 2024-06-01 was $303,278, a difference of $-19,079 (-5.9%) versus the prior year and $4,462 versus the prior month.

For the 2024-06-01 period, Rocky Mount had 351 MLS listings, a difference of 32 listings (10%) versus the prior month and 105 listings (43%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Rocky Mount (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 109 days 1,768 sqft
2018-02-01 101 days 1,737 sqft
2018-03-01 99 days 1,778 sqft
2018-04-01 76 days 1,859 sqft
2018-05-01 62 days 1,720 sqft
2018-06-01 67 days 1,740 sqft
2018-07-01 74 days 1,728 sqft
2018-08-01 88 days 1,803 sqft
2018-09-01 88 days 1,792 sqft
2018-10-01 95 days 1,769 sqft
2018-11-01 93 days 1,763 sqft
2018-12-01 100 days 1,766 sqft
2019-01-01 94 days 1,756 sqft
2019-02-01 77 days 1,730 sqft
2019-03-01 75 days 1,710 sqft
2019-04-01 78 days 1,691 sqft
2019-05-01 80 days 1,699 sqft
2019-06-01 84 days 1,698 sqft
2019-07-01 90 days 1,700 sqft
2019-08-01 84 days 1,681 sqft
2019-09-01 79 days 1,652 sqft
2019-10-01 76 days 1,632 sqft
2019-11-01 85 days 1,658 sqft
2019-12-01 85 days 1,747 sqft
2020-01-01 96 days 1,696 sqft
2020-02-01 84 days 1,790 sqft
2020-03-01 64 days 1,863 sqft
2020-04-01 67 days 1,846 sqft
2020-05-01 75 days 1,770 sqft
2020-06-01 86 days 1,875 sqft
2020-07-01 73 days 1,889 sqft
2020-08-01 64 days 1,772 sqft
2020-09-01 53 days 1,806 sqft
2020-10-01 42 days 1,777 sqft
2020-11-01 51 days 1,828 sqft
2020-12-01 64 days 1,790 sqft
2021-01-01 64 days 1,789 sqft
2021-02-01 47 days 1,866 sqft
2021-03-01 47 days 1,806 sqft
2021-04-01 40 days 1,922 sqft
2021-05-01 43 days 1,928 sqft
2021-06-01 35 days 1,985 sqft
2021-07-01 41 days 1,892 sqft
2021-08-01 40 days 1,823 sqft
2021-09-01 43 days 1,771 sqft
2021-10-01 44 days 1,809 sqft
2021-11-01 44 days 1,742 sqft
2021-12-01 49 days 1,755 sqft
2022-01-01 56 days 1,776 sqft
2022-02-01 66 days 1,660 sqft
2022-03-01 42 days 1,692 sqft
2022-04-01 33 days 1,690 sqft
2022-05-01 31 days 1,716 sqft
2022-06-01 35 days 1,684 sqft
2022-07-01 39 days 1,704 sqft
2022-08-01 44 days 1,735 sqft
2022-09-01 52 days 1,859 sqft
2022-10-01 54 days 1,894 sqft
2022-11-01 56 days 1,859 sqft
2022-12-01 70 days 1,824 sqft
2023-01-01 86 days 1,870 sqft
2023-02-01 83 days 1,880 sqft
2023-03-01 67 days 1,927 sqft
2023-04-01 58 days 1,902 sqft
2023-05-01 51 days 1,940 sqft
2023-06-01 49 days 1,894 sqft
2023-07-01 51 days 1,869 sqft
2023-08-01 53 days 1,876 sqft
2023-09-01 47 days 1,902 sqft
2023-10-01 54 days 1,846 sqft
2023-11-01 49 days 1,808 sqft
2023-12-01 51 days 1,811 sqft
2024-01-01 62 days 1,800 sqft
2024-02-01 64 days 1,741 sqft
2024-03-01 56 days 1,772 sqft
2024-04-01 55 days 1,732 sqft
2024-05-01 52 days 1,689 sqft
2024-06-01 47 days 1,724 sqft
Rocky Mount's median listing age (time on market) for 2024-06-01 was 47 days. This is -3% shorter than the same period one year ago.

Rocky Mount's median square footage for active listings during the 2024-06-01 period was 1,724 sqft. One year prior, the average listing was 1,894 sqft.