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
5.37%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
San Jose's average USDA mortgage closing costs are $7,688.
The average rate for the prior week (2023-05-19) was
5.31% and
one month ago for the week of 2023-04-21, the
average rate was 5.42%.
The average rate one year ago was 4.04%.
For refis of the same type during the week of 2023-05-26, the average rate
was 4.36%.
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 | 2022 Avg. 30yFix Rate | 2022 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%) | $1,830,114 (28.4%) | 4.12 | 570 |
| 2018-02-01 | $1,199,444 (25.7%) | $1,809,570 (21.4%) | 4.36 | 677 |
| 2018-03-01 | $1,275,000 (31.2%) | $1,853,912 (23.1%) | 4.47 | 800 |
| 2018-04-01 | $1,254,722 (26.9%) | $1,863,670 (24.4%) | 4.25 | 994 |
| 2018-05-01 | $1,291,500 (29.2%) | $1,829,915 (11.6%) | 4.31 | 1,198 |
| 2018-06-01 | $1,250,000 (24.7%) | $1,788,367 (7.3%) | 4.17 | 1,441 |
| 2018-07-01 | $1,199,833 (14.3%) | $1,709,947 (0.9%) | 4.01 | 1,718 |
| 2018-08-01 | $1,170,950 (11.6%) | $1,642,301 (-2.2%) | 3.92 | 1,816 |
| 2018-09-01 | $1,148,000 (4.5%) | $1,619,179 (-13.2%) | 3.86 | 2,059 |
| 2018-10-01 | $1,099,944 (-1.5%) | $1,589,641 (-14.4%) | 3.73 | 2,147 |
| 2018-11-01 | $1,089,400 (-6.3%) | $1,538,272 (-21.5%) | 3.69 | 2,052 |
| 2018-12-01 | $1,000,000 (-13.0%) | $1,507,697 (-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 | $1,096,500 (-8.6%) | $1,611,192 (-11.0%) | 3.70 | 1,440 |
| 2019-03-01 | $1,099,888 (-13.7%) | $1,608,582 (-13.2%) | 3.67 | 1,666 |
| 2019-04-01 | $1,148,000 (-8.5%) | $1,641,433 (-11.9%) | 3.65 | 1,807 |
| 2019-05-01 | $1,188,000 (-8.0%) | $1,646,805 (-10.0%) | 3.71 | 2,173 |
| 2019-06-01 | $1,175,000 (-6.0%) | $1,643,462 (-8.1%) | 3.67 | 2,366 |
| 2019-07-01 | $1,127,500 (-6.0%) | $1,636,557 (-4.3%) | 3.53 | 2,298 |
| 2019-08-01 | $1,148,000 (-2.0%) | $1,688,745 (2.8%) | 3.60 | 2,193 |
| 2019-09-01 | $1,143,250 (-0.4%) | $1,753,602 (8.3%) | 3.61 | 1,781 |
| 2019-10-01 | $1,112,500 (1.1%) | $1,697,195 (6.8%) | 3.59 | 2,021 |
| 2019-11-01 | $1,100,000 (1.0%) | $1,775,746 (15.4%) | 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 (9.3%) | $2,032,748 (26.2%) | 3.92 | 944 |
| 2020-03-01 | $1,249,860 (13.6%) | $1,990,892 (23.8%) | 3.92 | 1,144 |
| 2020-04-01 | $1,198,500 (4.4%) | $1,854,244 (13.0%) | 3.75 | 1,349 |
| 2020-05-01 | $1,205,500 (1.5%) | $1,858,819 (12.9%) | 3.66 | 1,646 |
| 2020-06-01 | $1,260,000 (7.2%) | $1,856,022 (12.9%) | 3.71 | 1,656 |
| 2020-07-01 | $1,249,975 (10.9%) | $1,824,632 (11.5%) | 3.62 | 1,681 |
| 2020-08-01 | $1,248,000 (8.7%) | $1,806,980 (7.0%) | 3.58 | 1,673 |
| 2020-09-01 | $1,210,000 (5.8%) | $1,789,686 (2.1%) | 3.47 | 1,668 |
| 2020-10-01 | $1,229,900 (10.6%) | $1,819,302 (7.2%) | 3.52 | 1,691 |
| 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%) | $1,881,075 (-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 (7.8%) | $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 (3.5%) | 3.36 | 1,410 |
| 2021-08-01 | $1,250,500 (0.2%) | $1,875,568 (3.8%) | 3.33 | 1,367 |
| 2021-09-01 | $1,262,639 (4.4%) | $1,902,979 (6.3%) | 3.37 | 1,283 |
| 2021-10-01 | $1,275,000 (3.7%) | $1,977,104 (8.7%) | 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%) | $1,945,415 (4.1%) | 3.51 | 489 |
| 2022-02-01 | $1,356,500 (10.8%) | $1,919,565 (2.5%) | 3.53 | 640 |
| 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%) | $1,942,766 (-0.4%) | 3.42 | 1,505 |
| 2022-06-01 | $1,495,000 (15.1%) | $1,967,087 (0.0%) | 3.33 | 1,754 |
| 2022-07-01 | $1,400,000 (9.8%) | $1,905,340 (0.9%) | 3.16 | 1,986 |
| 2022-08-01 | $1,386,238 (10.9%) | $1,913,266 (2.0%) | 3.20 | 1,797 |
| 2022-09-01 | $1,398,500 (10.8%) | $1,965,735 (3.3%) | 3.27 | 1,553 |
| 2022-10-01 | $1,399,000 (9.7%) | $2,018,195 (2.1%) | 3.29 | 1,532 |
| 2022-11-01 | $1,399,000 (12.4%) | $2,031,027 (3.1%) | 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%) | $1,952,544 (0.4%) | 3.34 | 823 |
| 2023-02-01 | $1,399,500 (3.2%) | $2,033,129 (5.9%) | 3.38 | 831 |
| 2023-03-01 | $1,495,000 (6.8%) | $2,153,296 (11.2%) | 3.52 | 870 |
| 2023-04-01 | $1,524,999 (6.0%) | $2,206,895 (15.6%) | 3.55 | 884 |
San Jose's median listing price comes in at 355% of the national average.
San Jose's average listing price for 2023-04-01 was $2,206,895, a difference of $297,177 (15.6%) versus the prior year and $53,599 versus the prior month.
For the 2023-04-01 period, San Jose had 884 MLS listings, a difference of 14 listings (2%) versus the prior month and -23 listings (-3%) 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 | 28 days | 1,901 sqft |
| 2018-02-01 | 17 days | 1,895 sqft |
| 2018-03-01 | 17 days | 1,830 sqft |
| 2018-04-01 | 18 days | 1,787 sqft |
| 2018-05-01 | 18 days | 1,793 sqft |
| 2018-06-01 | 22 days | 1,744 sqft |
| 2018-07-01 | 26 days | 1,695 sqft |
| 2018-08-01 | 29 days | 1,661 sqft |
| 2018-09-01 | 30 days | 1,660 sqft |
| 2018-10-01 | 31 days | 1,649 sqft |
| 2018-11-01 | 38 days | 1,631 sqft |
| 2018-12-01 | 50 days | 1,624 sqft |
| 2019-01-01 | 53 days | 1,623 sqft |
| 2019-02-01 | 25 days | 1,663 sqft |
| 2019-03-01 | 28 days | 1,694 sqft |
| 2019-04-01 | 27 days | 1,719 sqft |
| 2019-05-01 | 26 days | 1,753 sqft |
| 2019-06-01 | 32 days | 1,736 sqft |
| 2019-07-01 | 38 days | 1,722 sqft |
| 2019-08-01 | 47 days | 1,717 sqft |
| 2019-09-01 | 52 days | 1,758 sqft |
| 2019-10-01 | 45 days | 1,719 sqft |
| 2019-11-01 | 57 days | 1,754 sqft |
| 2019-12-01 | 75 days | 1,788 sqft |
| 2020-01-01 | 54 days | 1,764 sqft |
| 2020-02-01 | 23 days | 1,830 sqft |
| 2020-03-01 | 23 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 | 1,714 sqft |
| 2020-08-01 | 34 days | 1,663 sqft |
| 2020-09-01 | 37 days | 1,632 sqft |
| 2020-10-01 | 36 days | 1,614 sqft |
| 2020-11-01 | 44 days | 1,585 sqft |
| 2020-12-01 | 52 days | 1,541 sqft |
| 2021-01-01 | 42 days | 1,553 sqft |
| 2021-02-01 | 26 days | 1,576 sqft |
| 2021-03-01 | 26 days | 1,591 sqft |
| 2021-04-01 | 30 days | 1,607 sqft |
| 2021-05-01 | 26 days | 1,663 sqft |
| 2021-06-01 | 24 days | 1,649 sqft |
| 2021-07-01 | 26 days | 1,625 sqft |
| 2021-08-01 | 30 days | 1,599 sqft |
| 2021-09-01 | 31 days | 1,624 sqft |
| 2021-10-01 | 37 days | 1,615 sqft |
| 2021-11-01 | 53 days | 1,607 sqft |
| 2021-12-01 | 70 days | 1,548 sqft |
| 2022-01-01 | 42 days | 1,585 sqft |
| 2022-02-01 | 12 days | 1,600 sqft |
| 2022-03-01 | 16 days | 1,630 sqft |
| 2022-04-01 | 16 days | 1,661 sqft |
| 2022-05-01 | 17 days | 1,666 sqft |
| 2022-06-01 | 24 days | 1,675 sqft |
| 2022-07-01 | 29 days | 1,670 sqft |
| 2022-08-01 | 37 days | 1,681 sqft |
| 2022-09-01 | 39 days | 1,690 sqft |
| 2022-10-01 | 37 days | 1,712 sqft |
| 2022-11-01 | 41 days | 1,715 sqft |
| 2022-12-01 | 53 days | 1,722 sqft |
| 2023-01-01 | 54 days | 1,685 sqft |
| 2023-02-01 | 30 days | 1,728 sqft |
| 2023-03-01 | 28 days | 1,757 sqft |
| 2023-04-01 | 27 days | 1,780 sqft |
San Jose's median square footage for active listings during the 2023-04-01 period was 1,780 sqft. One year prior, the average listing was 1,661 sqft.