Salt Lake City USDA Loan Rates, Closing Costs & Stats

SALT LAKE CITY, UT

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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.

    Salt Lake City's 9 lenders originated 14 USDA loans during 2023. The total origination value was $5,100,000, with an average USDA loan value of $364,286.

    Salt Lake City USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Salt Lake City averaged 6.27% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Salt Lake City's average USDA mortgage closing costs are $6,885.

    The average rate for the prior week (2025-02-07) was 6.43% and one month ago for the week of 2025-01-10, the average rate was 6.27%.

    The average rate one year ago was 6.37%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.54%.

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

    Salt Lake City 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 Salt Lake City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 5 5.33% $11,478
    FIRST COLONY MORTGAGE CORPORATION 2 5.25% $3,626
    INTERCAP LENDING INC. 1 4.88% $18,298
    Century Mortgage Company DBA Century Lending Company 1 5.25% $10,523
    PLANET HOME LENDING, LLC 1 5.38% $7,964
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.13% $11,913
    Sierra Pacific Mortgage Company, Inc. 1 5.63% $8,933
    MASON MCDUFFIE MORTGAGE CORPORATION 1 6.88% $13,471
    DHI MORTGAGE COMPANY, LTD. 1 4.88% $5,251

    The top Salt Lake City USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 5 USDA loans originated. Their average total fees are $11,478, which is $7,853 higher than the next largest lender, FIRST COLONY MORTGAGE CORPORATION.

    The lowest fee Salt Lake City USDA lenders (with over 10 loans originated) are .

    The lowest rate Salt Lake City USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Salt Lake City (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 $386,923 (8.6%) $542,664 (2.6%) 1.43 2,087
    2018-02-01 $389,998 (5.2%) $553,476 (1.3%) 1.42 1,907
    2018-03-01 $402,930 (2.7%) $576,303 (1.3%) 1.41 1,858
    2018-04-01 $417,447 (5.9%) $582,077 (1.6%) 1.42 2,034
    2018-05-01 $423,719 (8.0%) $585,039 (4.4%) 1.42 2,226
    2018-06-01 $421,460 (6.9%) $586,497 (5.7%) 1.41 2,484
    2018-07-01 $422,765 (8.4%) $586,104 (9.0%) 1.41 2,629
    2018-08-01 $405,600 (4.6%) $561,552 (7.8%) 1.36 2,988
    2018-09-01 $404,993 (6.6%) $553,625 (9.5%) 1.36 3,134
    2018-10-01 $399,317 (6.1%) $544,099 (8.8%) 1.35 3,331
    2018-11-01 $399,000 (7.6%) $538,966 (8.9%) 1.35 3,214
    2018-12-01 $399,000 (6.4%) $542,276 (7.0%) 1.38 2,864
    2019-01-01 $399,767 (3.3%) $542,462 (0.0%) 1.38 2,586
    2019-02-01 $409,500 (5.0%) $558,178 (0.9%) 1.38 2,410
    2019-03-01 $425,671 (5.6%) $573,632 (-0.5%) 1.39 2,377
    2019-04-01 $437,121 (4.7%) $577,176 (-0.8%) 1.39 2,432
    2019-05-01 $442,425 (4.4%) $578,554 (-1.1%) 1.38 2,721
    2019-06-01 $441,154 (4.7%) $576,651 (-1.7%) 1.38 2,922
    2019-07-01 $437,450 (3.5%) $571,750 (-2.5%) 1.37 2,915
    2019-08-01 $435,836 (7.5%) $569,807 (1.5%) 1.38 2,881
    2019-09-01 $429,741 (6.1%) $563,916 (1.9%) 1.38 2,863
    2019-10-01 $425,000 (6.4%) $564,647 (3.8%) 1.37 2,838
    2019-11-01 $429,900 (7.7%) $585,417 (8.6%) 1.41 2,486
    2019-12-01 $442,450 (10.9%) $607,559 (12.0%) 1.48 1,965
    2020-01-01 $446,268 (11.6%) $627,206 (15.6%) 1.49 1,649
    2020-02-01 $467,000 (14.0%) $663,063 (18.8%) 1.53 1,404
    2020-03-01 $470,475 (10.5%) $659,355 (14.9%) 1.48 1,573
    2020-04-01 $446,553 (2.2%) $600,787 (4.1%) 1.40 2,185
    2020-05-01 $456,945 (3.3%) $606,643 (4.9%) 1.39 2,110
    2020-06-01 $476,225 (8.0%) $643,883 (11.7%) 1.40 1,853
    2020-07-01 $482,000 (10.2%) $670,226 (17.2%) 1.40 1,627
    2020-08-01 $479,999 (10.1%) $689,916 (21.1%) 1.38 1,570
    2020-09-01 $473,600 (10.2%) $691,909 (22.7%) 1.36 1,486
    2020-10-01 $479,900 (12.9%) $710,466 (25.8%) 1.38 1,381
    2020-11-01 $499,775 (16.3%) $763,765 (30.5%) 1.46 1,128
    2020-12-01 $538,032 (21.6%) $830,051 (36.6%) 1.60 857
    2021-01-01 $579,900 (29.9%) $904,593 (44.2%) 1.75 622
    2021-02-01 $577,350 (23.6%) $867,737 (30.9%) 1.69 520
    2021-03-01 $528,630 (12.4%) $825,159 (25.2%) 1.50 623
    2021-04-01 $549,850 (23.1%) $823,945 (37.1%) 1.49 652
    2021-05-01 $570,000 (24.7%) $775,676 (27.9%) 1.51 715
    2021-06-01 $566,950 (19.1%) $759,297 (17.9%) 1.49 898
    2021-07-01 $559,079 (16.0%) $761,462 (13.6%) 1.48 1,105
    2021-08-01 $562,800 (17.3%) $744,267 (7.9%) 1.50 1,271
    2021-09-01 $542,450 (14.5%) $723,946 (4.6%) 1.45 1,389
    2021-10-01 $539,900 (12.5%) $726,706 (2.3%) 1.44 1,339
    2021-11-01 $552,400 (10.5%) $739,404 (-3.2%) 1.48 1,065
    2021-12-01 $563,970 (4.8%) $742,234 (-10.6%) 1.53 686
    2022-01-01 $565,000 (-2.6%) $732,575 (-19.0%) 1.53 489
    2022-02-01 $555,000 (-3.9%) $749,310 (-13.7%) 1.44 472
    2022-03-01 $582,500 (10.2%) $770,003 (-6.7%) 1.46 572
    2022-04-01 $624,950 (13.7%) $764,139 (-7.3%) 1.49 764
    2022-05-01 $637,500 (11.8%) $784,861 (1.2%) 1.46 1,329
    2022-06-01 $632,450 (11.6%) $782,387 (3.0%) 1.41 1,854
    2022-07-01 $615,000 (10.0%) $753,832 (-1.0%) 1.39 2,544
    2022-08-01 $598,450 (6.3%) $738,042 (-0.8%) 1.38 2,668
    2022-09-01 $580,250 (7.0%) $735,074 (1.5%) 1.36 2,715
    2022-10-01 $574,900 (6.5%) $719,675 (-1.0%) 1.35 2,918
    2022-11-01 $550,000 (-0.4%) $715,491 (-3.2%) 1.32 2,779
    2022-12-01 $549,945 (-2.5%) $716,621 (-3.5%) 1.36 2,289
    2023-01-01 $559,125 (-1.0%) $729,539 (-0.4%) 1.39 1,947
    2023-02-01 $569,950 (2.7%) $746,243 (-0.4%) 1.38 1,633
    2023-03-01 $589,975 (1.3%) $751,748 (-2.4%) 1.39 1,546
    2023-04-01 $609,481 (-2.5%) $792,254 (3.7%) 1.42 1,498
    2023-05-01 $635,000 (-0.4%) $815,095 (3.9%) 1.44 1,682
    2023-06-01 $625,233 (-1.1%) $808,679 (3.4%) 1.41 1,925
    2023-07-01 $629,000 (2.3%) $813,345 (7.9%) 1.43 2,055
    2023-08-01 $605,000 (1.1%) $795,681 (7.8%) 1.39 2,203
    2023-09-01 $599,000 (3.2%) $789,245 (7.4%) 1.39 2,429
    2023-10-01 $589,075 (2.5%) $774,337 (7.6%) 1.39 2,561
    2023-11-01 $579,475 (5.4%) $765,030 (6.9%) 1.38 2,447
    2023-12-01 $574,900 (4.5%) $762,957 (6.5%) 1.40 2,223
    2024-01-01 $572,425 (2.4%) $775,484 (6.3%) 1.40 1,862
    2024-02-01 $569,000 (-0.2%) $771,147 (3.3%) 1.37 1,740
    2024-03-01 $579,950 (-1.7%) $785,386 (4.5%) 1.37 1,717
    2024-04-01 $598,500 (-1.8%) $799,762 (1.0%) 1.39 1,933
    2024-05-01 $615,425 (-3.1%) $814,455 (-0.1%) 1.40 2,211
    2024-06-01 $601,900 (-3.7%) $810,671 (0.3%) 1.38 2,423
    2024-07-01 $593,425 (-5.7%) $790,994 (-2.8%) 1.36 2,512
    2024-08-01 $589,000 (-2.6%) $779,140 (-2.1%) 1.37 2,718
    2024-09-01 $580,000 (-3.2%) $780,246 (-1.1%) 1.36 2,902
    2024-10-01 $581,200 (-1.3%) $777,119 (0.4%) 1.37 2,916
    2024-11-01 $575,000 (-0.8%) $769,851 (0.6%) 1.38 2,838
    2024-12-01 $571,950 (-0.5%) $763,723 (0.1%) 1.42 2,388
    2025-01-01 $567,495 (-0.9%) $757,978 (-2.3%) 0.00 2,235
    Salt Lake City's median listing price for 2025-01-01 was $567,495, a difference of $-4,930 (-0.9%) versus the prior year and $-4,455 versus the prior month.

    Salt Lake City's median listing price comes in at 0% of the national average.

    Salt Lake City's average listing price for 2025-01-01 was $757,978, a difference of $-17,506 (-2.3%) versus the prior year and $-5,745 versus the prior month.

    For the 2025-01-01 period, Salt Lake City had 2,235 MLS listings, a difference of -153 listings (-6%) versus the prior month and 373 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Salt Lake City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 52 days 2,796 sqft
    2018-02-01 41 days 2,855 sqft
    2018-03-01 31 days 2,998 sqft
    2018-04-01 29 days 2,987 sqft
    2018-05-01 26 days 3,012 sqft
    2018-06-01 29 days 2,988 sqft
    2018-07-01 31 days 2,936 sqft
    2018-08-01 30 days 2,781 sqft
    2018-09-01 35 days 2,730 sqft
    2018-10-01 36 days 2,649 sqft
    2018-11-01 43 days 2,656 sqft
    2018-12-01 52 days 2,697 sqft
    2019-01-01 58 days 2,705 sqft
    2019-02-01 50 days 2,788 sqft
    2019-03-01 39 days 2,861 sqft
    2019-04-01 33 days 2,935 sqft
    2019-05-01 31 days 2,920 sqft
    2019-06-01 33 days 2,892 sqft
    2019-07-01 38 days 2,845 sqft
    2019-08-01 39 days 2,787 sqft
    2019-09-01 38 days 2,701 sqft
    2019-10-01 39 days 2,661 sqft
    2019-11-01 45 days 2,675 sqft
    2019-12-01 58 days 2,714 sqft
    2020-01-01 63 days 2,796 sqft
    2020-02-01 39 days 2,940 sqft
    2020-03-01 24 days 2,875 sqft
    2020-04-01 28 days 2,695 sqft
    2020-05-01 36 days 2,650 sqft
    2020-06-01 36 days 2,650 sqft
    2020-07-01 32 days 2,593 sqft
    2020-08-01 29 days 2,516 sqft
    2020-09-01 29 days 2,416 sqft
    2020-10-01 28 days 2,394 sqft
    2020-11-01 31 days 2,431 sqft
    2020-12-01 36 days 2,571 sqft
    2021-01-01 31 days 2,552 sqft
    2021-02-01 13 days 2,528 sqft
    2021-03-01 8 days 2,390 sqft
    2021-04-01 8 days 2,346 sqft
    2021-05-01 9 days 2,402 sqft
    2021-06-01 11 days 2,432 sqft
    2021-07-01 16 days 2,437 sqft
    2021-08-01 19 days 2,457 sqft
    2021-09-01 21 days 2,402 sqft
    2021-10-01 24 days 2,402 sqft
    2021-11-01 25 days 2,402 sqft
    2021-12-01 35 days 2,475 sqft
    2022-01-01 38 days 2,475 sqft
    2022-02-01 25 days 2,338 sqft
    2022-03-01 21 days 2,364 sqft
    2022-04-01 19 days 2,402 sqft
    2022-05-01 19 days 2,558 sqft
    2022-06-01 24 days 2,524 sqft
    2022-07-01 30 days 2,473 sqft
    2022-08-01 37 days 2,412 sqft
    2022-09-01 44 days 2,402 sqft
    2022-10-01 46 days 2,394 sqft
    2022-11-01 53 days 2,379 sqft
    2022-12-01 67 days 2,396 sqft
    2023-01-01 74 days 2,411 sqft
    2023-02-01 62 days 2,463 sqft
    2023-03-01 45 days 2,574 sqft
    2023-04-01 41 days 2,674 sqft
    2023-05-01 36 days 2,692 sqft
    2023-06-01 36 days 2,661 sqft
    2023-07-01 38 days 2,630 sqft
    2023-08-01 42 days 2,515 sqft
    2023-09-01 43 days 2,448 sqft
    2023-10-01 46 days 2,417 sqft
    2023-11-01 54 days 2,425 sqft
    2023-12-01 63 days 2,405 sqft
    2024-01-01 67 days 2,404 sqft
    2024-02-01 54 days 2,370 sqft
    2024-03-01 44 days 2,370 sqft
    2024-04-01 38 days 2,415 sqft
    2024-05-01 34 days 2,518 sqft
    2024-06-01 39 days 2,452 sqft
    2024-07-01 45 days 2,406 sqft
    2024-08-01 46 days 2,398 sqft
    2024-09-01 51 days 2,363 sqft
    2024-10-01 54 days 2,362 sqft
    2024-11-01 57 days 2,340 sqft
    2024-12-01 65 days 2,296 sqft
    2025-01-01 0 days 2,301 sqft
    Salt Lake City's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Salt Lake City's median square footage for active listings during the 2025-01-01 period was 2,301 sqft. One year prior, the average listing was 2,404 sqft.