San Jose USDA Loan Rates, Closing Costs & Stats

SAN JOSE-SUNNYVALE-SANTA CLARA, CA

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.

San Jose USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in San Jose averaged 6.37% for the week of 2024-05-24, compared to the national average (all USDA variants) of 6.738% for the same period.

San Jose's average USDA mortgage closing costs are $7,688.

The average rate for the prior week (2024-05-17) was 6.15% and one month ago for the week of 2024-04-19, the average rate was 6.39%.

The average rate one year ago was 6.2%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.61%.

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

San Jose 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 San Jose level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs

The lowest fee San Jose USDA lenders (with over 10 loans originated) are .

The lowest rate San Jose USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - San Jose (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 $1,110,250 (23.5%) $1,829,513 (28.2%) 4.12 570
2018-02-01 $1,199,444 (25.7%) $1,810,776 (21.6%) 4.35 676
2018-03-01 $1,286,500 (32.9%) $1,861,664 (23.7%) 4.51 799
2018-04-01 $1,254,722 (26.9%) $1,864,395 (24.4%) 4.25 993
2018-05-01 $1,293,000 (29.4%) $1,830,306 (11.6%) 4.32 1,198
2018-06-01 $1,250,000 (24.4%) $1,788,116 (7.2%) 4.17 1,441
2018-07-01 $1,199,944 (14.3%) $1,710,621 (0.9%) 4.01 1,717
2018-08-01 $1,173,500 (11.8%) $1,642,858 (-2.2%) 3.93 1,816
2018-09-01 $1,148,000 (4.5%) $1,618,736 (-13.3%) 3.86 2,058
2018-10-01 $1,099,944 (-1.5%) $1,590,456 (-14.3%) 3.73 2,146
2018-11-01 $1,089,400 (-6.2%) $1,539,122 (-21.5%) 3.69 2,052
2018-12-01 $1,000,000 (-13.0%) $1,507,748 (-23.7%) 3.45 1,459
2019-01-01 $999,888 (-9.9%) $1,509,950 (-17.5%) 3.45 1,264
2019-02-01 $1,095,250 (-8.7%) $1,610,619 (-11.1%) 3.70 1,440
2019-03-01 $1,102,769 (-14.3%) $1,633,737 (-12.2%) 3.61 1,635
2019-04-01 $1,127,230 (-10.2%) $1,642,203 (-11.9%) 3.58 1,805
2019-05-01 $1,188,000 (-8.1%) $1,645,599 (-10.1%) 3.71 2,175
2019-06-01 $1,175,000 (-6.0%) $1,643,142 (-8.1%) 3.67 2,367
2019-07-01 $1,128,250 (-6.0%) $1,636,619 (-4.3%) 3.53 2,299
2019-08-01 $1,119,909 (-4.6%) $1,664,443 (1.3%) 3.55 2,190
2019-09-01 $1,122,773 (-2.2%) $1,681,961 (3.9%) 3.59 2,106
2019-10-01 $1,112,182 (1.1%) $1,693,639 (6.5%) 3.59 2,021
2019-11-01 $1,100,000 (1.0%) $1,775,100 (15.3%) 3.61 1,612
2019-12-01 $1,084,194 (8.4%) $1,798,338 (19.3%) 3.62 989
2020-01-01 $1,088,722 (8.9%) $1,881,701 (24.6%) 3.64 819
2020-02-01 $1,198,000 (9.4%) $2,032,748 (26.2%) 3.92 944
2020-03-01 $1,249,805 (13.3%) $1,990,529 (21.8%) 3.92 1,144
2020-04-01 $1,198,500 (6.3%) $1,854,244 (12.9%) 3.75 1,349
2020-05-01 $1,200,500 (1.1%) $1,858,819 (13.0%) 3.65 1,646
2020-06-01 $1,260,000 (7.2%) $1,856,022 (13.0%) 3.71 1,656
2020-07-01 $1,249,975 (10.8%) $1,824,368 (11.5%) 3.62 1,681
2020-08-01 $1,248,000 (11.4%) $1,806,980 (8.6%) 3.58 1,673
2020-09-01 $1,210,000 (7.8%) $1,789,686 (6.4%) 3.47 1,668
2020-10-01 $1,229,950 (10.6%) $1,819,909 (7.5%) 3.52 1,690
2020-11-01 $1,232,124 (12.0%) $1,897,714 (6.9%) 3.60 1,558
2020-12-01 $1,197,000 (10.4%) $1,865,030 (3.7%) 3.56 1,153
2021-01-01 $1,199,000 (10.1%) $1,869,161 (-0.7%) 3.58 971
2021-02-01 $1,223,900 (2.2%) $1,873,351 (-7.8%) 3.56 1,054
2021-03-01 $1,246,692 (-0.3%) $1,881,183 (-5.5%) 3.54 1,181
2021-04-01 $1,249,500 (4.3%) $1,898,349 (2.4%) 3.38 1,252
2021-05-01 $1,298,888 (8.2%) $1,951,204 (5.0%) 3.45 1,243
2021-06-01 $1,299,444 (3.1%) $1,967,174 (6.0%) 3.42 1,326
2021-07-01 $1,275,000 (2.0%) $1,889,262 (3.6%) 3.36 1,410
2021-08-01 $1,250,250 (0.2%) $1,875,379 (3.8%) 3.33 1,367
2021-09-01 $1,262,639 (4.4%) $1,902,946 (6.3%) 3.37 1,283
2021-10-01 $1,275,000 (3.7%) $1,977,104 (8.6%) 3.40 1,189
2021-11-01 $1,244,444 (1.0%) $1,970,988 (3.9%) 3.33 819
2021-12-01 $1,239,416 (3.5%) $1,941,596 (4.1%) 3.36 532
2022-01-01 $1,298,444 (8.3%) $1,931,228 (3.3%) 3.51 488
2022-02-01 $1,350,250 (10.3%) $1,917,902 (2.4%) 3.51 639
2022-03-01 $1,399,500 (12.3%) $1,936,123 (2.9%) 3.50 784
2022-04-01 $1,439,000 (15.2%) $1,909,718 (0.6%) 3.43 907
2022-05-01 $1,496,500 (15.2%) $1,941,803 (-0.5%) 3.42 1,505
2022-06-01 $1,495,000 (15.1%) $1,967,126 (0.0%) 3.33 1,755
2022-07-01 $1,400,000 (9.8%) $1,904,902 (0.8%) 3.15 1,987
2022-08-01 $1,386,238 (10.9%) $1,912,557 (2.0%) 3.20 1,798
2022-09-01 $1,398,250 (10.7%) $1,964,656 (3.2%) 3.27 1,554
2022-10-01 $1,399,000 (9.7%) $2,028,183 (2.6%) 3.29 1,532
2022-11-01 $1,399,000 (12.4%) $2,028,954 (2.9%) 3.36 1,354
2022-12-01 $1,398,000 (12.8%) $2,037,289 (4.9%) 3.45 956
2023-01-01 $1,349,000 (3.9%) $1,949,922 (1.0%) 3.34 823
2023-02-01 $1,399,500 (3.7%) $2,031,742 (5.9%) 3.38 831
2023-03-01 $1,495,000 (6.8%) $2,155,081 (11.3%) 3.53 870
2023-04-01 $1,536,500 (6.8%) $2,206,277 (15.5%) 3.57 884
2023-05-01 $1,530,000 (2.2%) $2,198,585 (13.2%) 3.47 973
2023-06-01 $1,498,000 (0.2%) $2,179,792 (10.8%) 3.37 980
2023-07-01 $1,498,000 (7.0%) $2,176,298 (14.3%) 3.40 952
2023-08-01 $1,474,497 (6.4%) $2,094,720 (9.5%) 3.39 1,031
2023-09-01 $1,399,000 (0.1%) $2,001,621 (1.9%) 3.26 1,148
2023-10-01 $1,380,694 (-1.3%) $1,989,260 (-1.9%) 3.25 1,183
2023-11-01 $1,352,222 (-3.3%) $1,968,351 (-3.0%) 3.22 1,132
2023-12-01 $1,298,944 (-7.1%) $2,029,021 (-0.4%) 3.17 833
2024-01-01 $1,288,250 (-4.5%) $1,966,840 (0.9%) 3.15 666
2024-02-01 $1,366,944 (-2.3%) $2,051,511 (1.0%) 3.29 725
2024-03-01 $1,481,397 (-0.9%) $2,128,258 (-1.2%) 3.49 889
2024-04-01 $1,466,953 (-4.5%) $2,108,183 (-4.5%) 3.41 1,109
San Jose's median listing price for 2024-04-01 was $1,466,953, a difference of $-69,547 (-4.5%) versus the prior year and $-14,444 versus the prior month.

San Jose's median listing price comes in at 341% of the national average.

San Jose's average listing price for 2024-04-01 was $2,108,183, a difference of $-98,094 (-4.5%) versus the prior year and $-20,075 versus the prior month.

For the 2024-04-01 period, San Jose had 1,109 MLS listings, a difference of 220 listings (25%) versus the prior month and 225 listings (25%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - San Jose (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 26 days 1,900 sqft
2018-02-01 17 days 1,897 sqft
2018-03-01 17 days 1,832 sqft
2018-04-01 18 days 1,785 sqft
2018-05-01 18 days 1,793 sqft
2018-06-01 22 days 1,747 sqft
2018-07-01 26 days 1,695 sqft
2018-08-01 28 days 1,661 sqft
2018-09-01 30 days 1,661 sqft
2018-10-01 31 days 1,650 sqft
2018-11-01 38 days 1,632 sqft
2018-12-01 50 days 1,624 sqft
2019-01-01 52 days 1,624 sqft
2019-02-01 25 days 1,663 sqft
2019-03-01 27 days 1,689 sqft
2019-04-01 28 days 1,710 sqft
2019-05-01 25 days 1,753 sqft
2019-06-01 32 days 1,735 sqft
2019-07-01 38 days 1,721 sqft
2019-08-01 40 days 1,720 sqft
2019-09-01 43 days 1,716 sqft
2019-10-01 44 days 1,716 sqft
2019-11-01 56 days 1,752 sqft
2019-12-01 73 days 1,788 sqft
2020-01-01 53 days 1,764 sqft
2020-02-01 23 days 1,830 sqft
2020-03-01 22 days 1,808 sqft
2020-04-01 35 days 1,774 sqft
2020-05-01 36 days 1,796 sqft
2020-06-01 35 days 1,774 sqft
2020-07-01 33 days 1,713 sqft
2020-08-01 33 days 1,663 sqft
2020-09-01 37 days 1,632 sqft
2020-10-01 36 days 1,614 sqft
2020-11-01 42 days 1,585 sqft
2020-12-01 51 days 1,541 sqft
2021-01-01 41 days 1,553 sqft
2021-02-01 25 days 1,576 sqft
2021-03-01 25 days 1,591 sqft
2021-04-01 29 days 1,607 sqft
2021-05-01 25 days 1,663 sqft
2021-06-01 23 days 1,649 sqft
2021-07-01 25 days 1,624 sqft
2021-08-01 30 days 1,599 sqft
2021-09-01 31 days 1,624 sqft
2021-10-01 36 days 1,615 sqft
2021-11-01 51 days 1,607 sqft
2021-12-01 66 days 1,547 sqft
2022-01-01 39 days 1,585 sqft
2022-02-01 11 days 1,599 sqft
2022-03-01 16 days 1,630 sqft
2022-04-01 16 days 1,663 sqft
2022-05-01 17 days 1,666 sqft
2022-06-01 24 days 1,675 sqft
2022-07-01 29 days 1,673 sqft
2022-08-01 37 days 1,682 sqft
2022-09-01 38 days 1,691 sqft
2022-10-01 36 days 1,715 sqft
2022-11-01 40 days 1,720 sqft
2022-12-01 53 days 1,722 sqft
2023-01-01 53 days 1,686 sqft
2023-02-01 30 days 1,729 sqft
2023-03-01 27 days 1,758 sqft
2023-04-01 27 days 1,780 sqft
2023-05-01 25 days 1,778 sqft
2023-06-01 29 days 1,772 sqft
2023-07-01 30 days 1,717 sqft
2023-08-01 27 days 1,731 sqft
2023-09-01 29 days 1,693 sqft
2023-10-01 31 days 1,659 sqft
2023-11-01 34 days 1,613 sqft
2023-12-01 43 days 1,602 sqft
2024-01-01 42 days 1,589 sqft
2024-02-01 23 days 1,621 sqft
2024-03-01 22 days 1,658 sqft
2024-04-01 21 days 1,633 sqft
San Jose's median listing age (time on market) for 2024-04-01 was 21 days. This is -22% shorter than the same period one year ago.

San Jose's median square footage for active listings during the 2024-04-01 period was 1,633 sqft. One year prior, the average listing was 1,780 sqft.