Salt Lake City USDA Loans
SALT LAKE CITY, UT
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 39 lenders originated 167 USDA loans during 2021. The total origination value was $56,285,000, with an average USDA loan value of $337,036.
Salt Lake City USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Salt Lake City
averaged
5.36%
for the week of 2022-05-20, compared to the national average (all USDA variants) of
5.315% for the same period.
The average rate for the prior week (2022-05-13) was
5.05% and
one month ago for the week of 2022-04-15, the
average rate was 4.74%.
The average rate one year ago was 3.19%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.1%.
Salt Lake City 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 Salt Lake City level.
The top Salt Lake City USDA lender as defined by loan originations is SECURITYNATIONAL MORTGAGE COMPANY, with
17 USDA loans originated. Their average total fees are
$7,143, which is $675
higher than the next largest lender,
CALIBER HOME LOANS, INC..
The lowest fee Salt Lake City USDA lenders (with over 10 loans originated) are
CALIBER HOME LOANS, INC. ($6,468), SECURITYNATIONAL MORTGAGE COMPANY ($7,143), .
The lowest rate Salt Lake City USDA lenders (with over 10 loans originated) are
SECURITYNATIONAL MORTGAGE COMPANY (2.63%), CALIBER HOME LOANS, INC. (2.73%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Salt Lake City (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 | $392,475 (7.8%) | $561,298 (2.3%) | 1.45 | 2,029 |
2018-02-01 | $399,000 (6.4%) | $584,031 (3.4%) | 1.44 | 1,834 |
2018-03-01 | $410,000 (3.3%) | $600,750 (2.6%) | 1.42 | 1,784 |
2018-04-01 | $429,400 (7.4%) | $606,814 (2.4%) | 1.44 | 1,960 |
2018-05-01 | $430,000 (7.7%) | $608,646 (5.4%) | 1.43 | 2,149 |
2018-06-01 | $429,500 (7.5%) | $607,550 (6.7%) | 1.43 | 2,407 |
2018-07-01 | $425,450 (6.7%) | $604,747 (9.0%) | 1.42 | 2,552 |
2018-08-01 | $409,950 (5.1%) | $581,549 (8.3%) | 1.37 | 2,898 |
2018-09-01 | $409,900 (6.5%) | $574,365 (10.3%) | 1.37 | 3,045 |
2018-10-01 | $399,925 (5.1%) | $563,295 (9.5%) | 1.34 | 3,251 |
2018-11-01 | $399,900 (6.4%) | $561,276 (10.3%) | 1.34 | 3,133 |
2018-12-01 | $399,990 (5.3%) | $564,075 (8.7%) | 1.37 | 2,770 |
2019-01-01 | $400,000 (1.9%) | $563,799 (0.5%) | 1.38 | 2,474 |
2019-02-01 | $414,950 (4.0%) | $578,464 (-1.0%) | 1.39 | 2,267 |
2019-03-01 | $433,900 (5.8%) | $596,098 (-0.8%) | 1.41 | 2,202 |
2019-04-01 | $449,900 (4.8%) | $602,579 (-0.7%) | 1.42 | 2,233 |
2019-05-01 | $459,500 (6.9%) | $605,125 (-0.6%) | 1.42 | 2,513 |
2019-06-01 | $450,000 (4.8%) | $599,669 (-1.3%) | 1.39 | 2,672 |
2019-07-01 | $444,950 (4.6%) | $591,631 (-2.2%) | 1.38 | 2,724 |
2019-08-01 | $428,514 (4.5%) | $567,378 (-2.4%) | 1.35 | 3,274 |
2019-09-01 | $416,014 (1.5%) | $553,643 (-3.6%) | 1.32 | 3,362 |
2019-10-01 | $429,900 (7.5%) | $583,496 (3.6%) | 1.37 | 2,653 |
2019-11-01 | $439,000 (9.8%) | $610,415 (8.8%) | 1.42 | 2,315 |
2019-12-01 | $449,995 (12.5%) | $637,788 (13.1%) | 1.50 | 1,833 |
2020-01-01 | $457,000 (14.3%) | $666,648 (18.2%) | 1.52 | 1,513 |
2020-02-01 | $489,900 (18.1%) | $713,353 (23.3%) | 1.58 | 1,280 |
2020-03-01 | $487,450 (12.3%) | $704,333 (18.2%) | 1.52 | 1,439 |
2020-04-01 | $450,000 (0.0%) | $629,926 (4.5%) | 1.40 | 2,034 |
2020-05-01 | $469,900 (2.3%) | $634,521 (4.9%) | 1.42 | 1,984 |
2020-06-01 | $489,950 (8.9%) | $676,513 (12.8%) | 1.43 | 1,733 |
2020-07-01 | $499,995 (12.4%) | $704,489 (19.1%) | 1.43 | 1,546 |
2020-08-01 | $490,000 (14.4%) | $715,685 (26.1%) | 1.40 | 1,508 |
2020-09-01 | $480,950 (15.6%) | $721,897 (30.4%) | 1.37 | 1,407 |
2020-10-01 | $490,000 (14.0%) | $745,753 (27.8%) | 1.40 | 1,306 |
2020-11-01 | $514,950 (17.3%) | $820,602 (34.4%) | 1.47 | 1,061 |
2020-12-01 | $555,945 (23.5%) | $896,630 (40.6%) | 1.63 | 823 |
2021-01-01 | $599,000 (31.1%) | $975,097 (46.3%) | 1.76 | 595 |
2021-02-01 | $597,000 (21.9%) | $951,227 (33.4%) | 1.72 | 504 |
2021-03-01 | $539,950 (10.8%) | $894,558 (27.0%) | 1.51 | 606 |
2021-04-01 | $552,500 (22.8%) | $892,005 (41.6%) | 1.48 | 641 |
2021-05-01 | $579,000 (23.2%) | $825,245 (30.1%) | 1.52 | 697 |
2021-06-01 | $567,950 (15.9%) | $808,296 (19.5%) | 1.48 | 864 |
2021-07-01 | $563,000 (12.6%) | $799,485 (13.5%) | 1.46 | 1,061 |
2021-08-01 | $572,000 (16.7%) | $779,713 (9.0%) | 1.50 | 1,218 |
2021-09-01 | $547,500 (13.8%) | $762,410 (5.6%) | 1.44 | 1,322 |
2021-10-01 | $540,000 (10.2%) | $755,781 (1.3%) | 1.42 | 1,268 |
2021-11-01 | $554,900 (7.8%) | $771,016 (-6.0%) | 1.46 | 985 |
2021-12-01 | $557,900 (0.4%) | $764,993 (-14.7%) | 1.49 | 600 |
2022-01-01 | $550,000 (-8.2%) | $755,222 (-22.6%) | 1.47 | 444 |
2022-02-01 | $550,000 (-7.9%) | $780,149 (-18.0%) | 1.40 | 432 |
2022-03-01 | $582,000 (7.8%) | $790,485 (-11.6%) | 1.44 | 526 |
2022-04-01 | $625,000 (13.1%) | $794,152 (-11.0%) | 1.47 | 706 |
Salt Lake City's median listing price comes in at 147% of the national average.
Salt Lake City's average listing price for 2022-04-01 was $794,152, a difference of $-97,853 (-11.0%) versus the prior year and $3,667 versus the prior month.
For the 2022-04-01 period, Salt Lake City had 706 MLS listings, a difference of 180 listings (34%) versus the prior month and 65 listings (10%) 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. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 55 days | 2,849 sqft |
2018-02-01 | 45 days | 2,888 sqft |
2018-03-01 | 36 days | 3,030 sqft |
2018-04-01 | 30 days | 3,062 sqft |
2018-05-01 | 29 days | 3,063 sqft |
2018-06-01 | 30 days | 3,024 sqft |
2018-07-01 | 32 days | 2,955 sqft |
2018-08-01 | 31 days | 2,788 sqft |
2018-09-01 | 36 days | 2,746 sqft |
2018-10-01 | 37 days | 2,671 sqft |
2018-11-01 | 44 days | 2,664 sqft |
2018-12-01 | 54 days | 2,725 sqft |
2019-01-01 | 60 days | 2,721 sqft |
2019-02-01 | 54 days | 2,801 sqft |
2019-03-01 | 44 days | 2,897 sqft |
2019-04-01 | 36 days | 2,988 sqft |
2019-05-01 | 32 days | 2,981 sqft |
2019-06-01 | 36 days | 2,924 sqft |
2019-07-01 | 38 days | 2,866 sqft |
2019-08-01 | 42 days | 2,747 sqft |
2019-09-01 | 49 days | 2,629 sqft |
2019-10-01 | 39 days | 2,668 sqft |
2019-11-01 | 45 days | 2,700 sqft |
2019-12-01 | 60 days | 2,785 sqft |
2020-01-01 | 66 days | 2,858 sqft |
2020-02-01 | 55 days | 3,010 sqft |
2020-03-01 | 29 days | 2,897 sqft |
2020-04-01 | 27 days | 2,720 sqft |
2020-05-01 | 36 days | 2,654 sqft |
2020-06-01 | 38 days | 2,654 sqft |
2020-07-01 | 37 days | 2,644 sqft |
2020-08-01 | 30 days | 2,564 sqft |
2020-09-01 | 32 days | 2,429 sqft |
2020-10-01 | 30 days | 2,422 sqft |
2020-11-01 | 35 days | 2,464 sqft |
2020-12-01 | 43 days | 2,603 sqft |
2021-01-01 | 43 days | 2,615 sqft |
2021-02-01 | 21 days | 2,564 sqft |
2021-03-01 | 11 days | 2,385 sqft |
2021-04-01 | 10 days | 2,374 sqft |
2021-05-01 | 8 days | 2,413 sqft |
2021-06-01 | 11 days | 2,450 sqft |
2021-07-01 | 16 days | 2,460 sqft |
2021-08-01 | 20 days | 2,459 sqft |
2021-09-01 | 22 days | 2,402 sqft |
2021-10-01 | 24 days | 2,402 sqft |
2021-11-01 | 28 days | 2,405 sqft |
2021-12-01 | 38 days | 2,423 sqft |
2022-01-01 | 40 days | 2,400 sqft |
2022-02-01 | 27 days | 2,319 sqft |
2022-03-01 | 25 days | 2,349 sqft |
2022-04-01 | 21 days | 2,422 sqft |
Salt Lake City's median square footage for active listings during the 2022-04-01 period was 2,422 sqft. One year prior, the average listing was 2,374 sqft.