San Luis Obispo USDA Loan Rates, Closing Costs & Stats

SAN LUIS OBISPO-PASO ROBLES, 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 Luis Obispo's 15 lenders originated 51 USDA loans during 2021. The total origination value was $22,835,000, with an average USDA loan value of $447,745.

San Luis Obispo USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in San Luis Obispo averaged 6.46% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

San Luis Obispo's average USDA mortgage closing costs are $8,041.

The average rate for the prior week (2022-11-25) was 6.7% and one month ago for the week of 2022-10-28, the average rate was 6.77%.

The average rate one year ago was 3.36%.

For refis of the same type during the week of 2022-12-02, the average rate was 6%.

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

San Luis Obispo 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 Luis Obispo level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
KD CAPITAL MORTGAGE CORPORATION 12 2.49% $8,447
CMG MORTGAGE, INC. 8 2.55% $8,606
CALIBER HOME LOANS, INC. 6 2.50% $7,841
MID AMERICA MORTGAGE, INC. 4 2.38% $6,619
UNITED WHOLESALE MORTGAGE, LLC 2 2.75% $14,492
CENTRAL COAST LENDING, INC. 2 2.88% $8,218
PLAZA HOME MORTGAGE, INC. 2 3.13% $7,943
GENEVA FINANCIAL, LLC 1 3.25% $7,268
HOME POINT FINANCIAL CORPORATION 1 2.50% $8,561
CROSSCOUNTRY MORTGAGE, LLC 1 2.99% $9,178
COUNTRY CLUB MORTGAGE, INC. 1 2.50% $8,581
COASTAL FUNDING SLC, INC. 1 3.63% $7,696
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.88% $11,859
S1L, Inc. 1 2.25% $11,460
Equity Prime Mortgage LLC 1 2.63% $8,537

The top San Luis Obispo USDA lender as defined by loan originations is KD CAPITAL MORTGAGE CORPORATION, with 12 USDA loans originated. Their average total fees are $8,447, which is $159 lower than the next largest lender, CMG MORTGAGE, INC..

The lowest fee San Luis Obispo USDA lenders (with over 10 loans originated) are KD CAPITAL MORTGAGE CORPORATION ($8,447), .

The lowest rate San Luis Obispo USDA lenders (with over 10 loans originated) are KD CAPITAL MORTGAGE CORPORATION (2.49%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - San Luis Obispo (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 $748,850 (7.9%) $1,049,841 (3.8%) 2.78 774
2018-02-01 $744,950 (6.5%) $1,006,836 (-2.6%) 2.70 809
2018-03-01 $738,250 (2.8%) $999,670 (-4.6%) 2.59 864
2018-04-01 $749,950 (4.9%) $1,023,381 (-1.3%) 2.54 927
2018-05-01 $775,000 (4.0%) $1,059,210 (0.2%) 2.59 961
2018-06-01 $767,500 (2.5%) $1,053,867 (1.5%) 2.56 1,031
2018-07-01 $749,500 (0.3%) $1,026,699 (1.1%) 2.50 1,076
2018-08-01 $744,000 (2.6%) $1,007,322 (-1.3%) 2.49 1,074
2018-09-01 $729,900 (1.4%) $1,001,039 (-4.1%) 2.45 1,062
2018-10-01 $715,000 (-1.3%) $981,507 (-7.1%) 2.42 1,027
2018-11-01 $699,500 (-4.1%) $983,597 (-8.1%) 2.37 987
2018-12-01 $696,750 (-6.5%) $994,376 (-7.3%) 2.40 917
2019-01-01 $699,000 (-6.7%) $1,001,876 (-4.6%) 2.41 877
2019-02-01 $699,995 (-6.0%) $996,058 (-1.1%) 2.36 880
2019-03-01 $699,000 (-5.3%) $1,009,799 (1.0%) 2.29 928
2019-04-01 $709,250 (-5.4%) $1,037,896 (1.4%) 2.25 994
2019-05-01 $727,000 (-6.2%) $979,960 (-7.5%) 2.27 1,042
2019-06-01 $729,270 (-5.0%) $968,845 (-8.1%) 2.28 1,059
2019-07-01 $743,500 (-0.8%) $978,936 (-4.7%) 2.33 1,086
2019-08-01 $741,727 (-0.3%) $966,229 (-4.1%) 2.35 1,074
2019-09-01 $732,318 (0.3%) $948,449 (-5.3%) 2.34 1,029
2019-10-01 $725,000 (1.4%) $936,334 (-4.6%) 2.34 990
2019-11-01 $729,900 (4.4%) $944,356 (-4.0%) 2.39 914
2019-12-01 $729,498 (4.7%) $942,923 (-5.2%) 2.43 805
2020-01-01 $732,610 (4.8%) $945,906 (-5.6%) 2.45 773
2020-02-01 $749,000 (7.0%) $976,297 (-2.0%) 2.45 772
2020-03-01 $749,000 (7.2%) $1,021,095 (1.1%) 2.35 812
2020-04-01 $749,000 (5.6%) $1,006,016 (-3.1%) 2.34 830
2020-05-01 $765,000 (5.2%) $1,036,140 (5.7%) 2.33 845
2020-06-01 $779,125 (6.8%) $1,033,104 (6.6%) 2.29 792
2020-07-01 $793,750 (6.8%) $1,064,287 (8.7%) 2.30 734
2020-08-01 $799,990 (7.9%) $1,119,965 (15.9%) 2.29 668
2020-09-01 $799,250 (9.1%) $1,163,149 (22.6%) 2.29 587
2020-10-01 $819,950 (13.1%) $1,171,566 (25.1%) 2.35 523
2020-11-01 $801,750 (9.8%) $1,170,049 (23.9%) 2.34 489
2020-12-01 $822,225 (12.7%) $1,191,100 (26.3%) 2.44 426
2021-01-01 $849,000 (15.9%) $1,260,358 (33.2%) 2.53 367
2021-02-01 $827,450 (10.5%) $1,268,104 (29.9%) 2.41 309
2021-03-01 $846,000 (13.0%) $1,282,157 (25.6%) 2.40 300
2021-04-01 $897,500 (19.8%) $1,430,777 (42.2%) 2.43 306
2021-05-01 $888,000 (16.1%) $1,432,998 (38.3%) 2.35 343
2021-06-01 $892,000 (14.5%) $1,446,854 (40.1%) 2.35 347
2021-07-01 $889,000 (12.0%) $1,363,707 (28.1%) 2.34 384
2021-08-01 $889,250 (11.2%) $1,414,367 (26.3%) 2.37 355
2021-09-01 $907,000 (13.5%) $1,448,539 (24.5%) 2.42 347
2021-10-01 $950,000 (15.9%) $1,567,842 (33.8%) 2.53 300
2021-11-01 $957,625 (19.4%) $1,573,505 (34.5%) 2.56 288
2021-12-01 $986,250 (20.0%) $1,601,964 (34.5%) 2.67 235
2022-01-01 $1,049,500 (23.6%) $1,941,953 (54.1%) 2.84 200
2022-02-01 $975,000 (17.8%) $1,839,763 (45.1%) 2.54 211
2022-03-01 $991,250 (17.2%) $1,751,082 (36.6%) 2.48 238
2022-04-01 $999,000 (11.3%) $1,654,036 (15.6%) 2.38 253
2022-05-01 $996,125 (12.2%) $1,596,040 (11.4%) 2.28 336
2022-06-01 $994,750 (11.5%) $1,540,249 (6.5%) 2.22 412
2022-07-01 $925,000 (4.1%) $1,409,590 (3.4%) 2.09 477
2022-08-01 $907,500 (2.1%) $1,427,293 (0.9%) 2.10 480
2022-09-01 $949,475 (4.7%) $1,463,988 (1.1%) 2.22 448
2022-10-01 $929,000 (-2.2%) $1,427,858 (-8.9%) 2.19 455
2022-11-01 $950,000 (-0.8%) $1,460,505 (-7.2%) 2.29 453
San Luis Obispo's median listing price for 2022-11-01 was $950,000, a difference of $-7,625 (-0.8%) versus the prior year and $21,000 versus the prior month.

San Luis Obispo's median listing price comes in at 229% of the national average.

San Luis Obispo's average listing price for 2022-11-01 was $1,460,505, a difference of $-113,000 (-7.2%) versus the prior year and $32,647 versus the prior month.

For the 2022-11-01 period, San Luis Obispo had 453 MLS listings, a difference of -2 listings (0%) versus the prior month and 165 listings (57%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - San Luis Obispo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 78 days 1,957 sqft
2018-02-01 66 days 1,932 sqft
2018-03-01 47 days 1,930 sqft
2018-04-01 46 days 1,989 sqft
2018-05-01 46 days 2,016 sqft
2018-06-01 51 days 2,004 sqft
2018-07-01 55 days 1,938 sqft
2018-08-01 58 days 1,955 sqft
2018-09-01 60 days 1,928 sqft
2018-10-01 65 days 1,907 sqft
2018-11-01 67 days 1,904 sqft
2018-12-01 75 days 1,888 sqft
2019-01-01 79 days 1,883 sqft
2019-02-01 68 days 1,908 sqft
2019-03-01 63 days 1,910 sqft
2019-04-01 61 days 1,915 sqft
2019-05-01 57 days 1,931 sqft
2019-06-01 63 days 1,925 sqft
2019-07-01 67 days 1,981 sqft
2019-08-01 71 days 1,966 sqft
2019-09-01 77 days 1,925 sqft
2019-10-01 80 days 1,892 sqft
2019-11-01 81 days 1,890 sqft
2019-12-01 93 days 1,893 sqft
2020-01-01 88 days 1,879 sqft
2020-02-01 87 days 1,886 sqft
2020-03-01 64 days 1,886 sqft
2020-04-01 67 days 1,897 sqft
2020-05-01 78 days 1,932 sqft
2020-06-01 97 days 1,959 sqft
2020-07-01 83 days 1,939 sqft
2020-08-01 70 days 1,910 sqft
2020-09-01 72 days 1,932 sqft
2020-10-01 74 days 1,958 sqft
2020-11-01 79 days 1,953 sqft
2020-12-01 85 days 1,934 sqft
2021-01-01 88 days 1,906 sqft
2021-02-01 85 days 1,929 sqft
2021-03-01 61 days 1,901 sqft
2021-04-01 58 days 1,995 sqft
2021-05-01 47 days 1,974 sqft
2021-06-01 46 days 1,892 sqft
2021-07-01 40 days 1,861 sqft
2021-08-01 48 days 1,834 sqft
2021-09-01 49 days 1,847 sqft
2021-10-01 48 days 1,921 sqft
2021-11-01 49 days 1,879 sqft
2021-12-01 57 days 1,881 sqft
2022-01-01 64 days 1,974 sqft
2022-02-01 44 days 1,921 sqft
2022-03-01 35 days 1,881 sqft
2022-04-01 36 days 1,868 sqft
2022-05-01 32 days 1,893 sqft
2022-06-01 38 days 1,879 sqft
2022-07-01 39 days 1,862 sqft
2022-08-01 51 days 1,867 sqft
2022-09-01 57 days 1,899 sqft
2022-10-01 56 days 1,873 sqft
2022-11-01 60 days 1,794 sqft
San Luis Obispo's median listing age (time on market) for 2022-11-01 was 60 days. This is 22% longer than the same period one year ago.

San Luis Obispo's median square footage for active listings during the 2022-11-01 period was 1,794 sqft. One year prior, the average listing was 1,879 sqft.