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 3 lenders originated 3 USDA loans during 2023. The total origination value was $1,265,000, with an average USDA loan value of $421,667.
San Luis Obispo USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in San Luis Obispo
averaged
6.08%
for the week of 2024-12-13, compared to the national average (all USDA variants) of
6.303% for the same period.
San Luis Obispo's average USDA mortgage closing costs are $8,215.
The average rate for the prior week (2024-12-06) was
6.32% and
one month ago for the week of 2024-11-08, the
average rate was 6.33%.
The average rate one year ago was 6.9%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.25%.
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| OCMBC, INC. | 1 | 6.13% | $19,307 |
| Sierra Pacific Mortgage Company, Inc. | 1 | 5.99% | $18,729 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 6.13% | $9,896 |
The top San Luis Obispo USDA lender as defined by loan originations is OCMBC, INC., with
1 USDA loans originated. Their average total fees are
$19,307, which is $578
higher than the next largest lender,
Sierra Pacific Mortgage Company, Inc..
The lowest fee San Luis Obispo USDA lenders (with over 10 loans originated) are
.
The lowest rate San Luis Obispo USDA lenders (with over 10 loans originated) are
.
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 | $748,750 (7.9%) | $1,048,991 (3.7%) | 2.78 | 775 |
| 2018-02-01 | $744,950 (6.5%) | $1,006,055 (-2.7%) | 2.70 | 810 |
| 2018-03-01 | $737,500 (2.7%) | $998,946 (-4.7%) | 2.59 | 865 |
| 2018-04-01 | $749,900 (4.9%) | $1,022,003 (-1.5%) | 2.54 | 929 |
| 2018-05-01 | $775,000 (4.0%) | $1,057,840 (0.1%) | 2.59 | 963 |
| 2018-06-01 | $765,000 (2.1%) | $1,052,570 (1.4%) | 2.55 | 1,033 |
| 2018-07-01 | $749,500 (0.3%) | $1,025,471 (1.0%) | 2.50 | 1,078 |
| 2018-08-01 | $744,000 (2.6%) | $1,006,735 (-1.3%) | 2.49 | 1,076 |
| 2018-09-01 | $729,900 (1.4%) | $999,817 (-4.2%) | 2.45 | 1,063 |
| 2018-10-01 | $713,750 (-1.5%) | $980,884 (-7.1%) | 2.42 | 1,028 |
| 2018-11-01 | $699,475 (-3.9%) | $982,683 (-8.1%) | 2.37 | 988 |
| 2018-12-01 | $695,000 (-6.4%) | $993,670 (-7.3%) | 2.40 | 918 |
| 2019-01-01 | $699,000 (-6.6%) | $1,001,876 (-4.5%) | 2.41 | 877 |
| 2019-02-01 | $699,995 (-6.0%) | $996,058 (-1.0%) | 2.36 | 880 |
| 2019-03-01 | $699,000 (-5.2%) | $1,009,799 (1.1%) | 2.29 | 928 |
| 2019-04-01 | $709,250 (-5.4%) | $1,037,896 (1.6%) | 2.25 | 994 |
| 2019-05-01 | $727,000 (-6.2%) | $979,960 (-7.4%) | 2.27 | 1,042 |
| 2019-06-01 | $729,270 (-4.7%) | $968,845 (-8.0%) | 2.28 | 1,059 |
| 2019-07-01 | $743,500 (-0.8%) | $978,936 (-4.5%) | 2.33 | 1,086 |
| 2019-08-01 | $741,727 (-0.3%) | $966,229 (-4.0%) | 2.35 | 1,074 |
| 2019-09-01 | $732,318 (0.3%) | $948,449 (-5.1%) | 2.34 | 1,029 |
| 2019-10-01 | $725,000 (1.6%) | $936,334 (-4.5%) | 2.34 | 990 |
| 2019-11-01 | $729,900 (4.4%) | $941,942 (-4.2%) | 2.39 | 913 |
| 2019-12-01 | $729,488 (5.0%) | $940,180 (-5.4%) | 2.43 | 804 |
| 2020-01-01 | $732,475 (4.8%) | $943,047 (-5.9%) | 2.45 | 772 |
| 2020-02-01 | $749,000 (7.0%) | $973,576 (-2.3%) | 2.45 | 771 |
| 2020-03-01 | $749,000 (7.2%) | $1,017,029 (0.7%) | 2.35 | 812 |
| 2020-04-01 | $749,000 (5.6%) | $1,005,757 (-3.1%) | 2.35 | 830 |
| 2020-05-01 | $762,000 (4.8%) | $1,033,094 (5.4%) | 2.32 | 846 |
| 2020-06-01 | $776,000 (6.4%) | $1,028,897 (6.2%) | 2.29 | 794 |
| 2020-07-01 | $792,935 (6.7%) | $1,060,656 (8.4%) | 2.30 | 734 |
| 2020-08-01 | $799,945 (7.9%) | $1,117,442 (15.7%) | 2.29 | 667 |
| 2020-09-01 | $799,250 (9.1%) | $1,159,795 (22.3%) | 2.29 | 586 |
| 2020-10-01 | $819,900 (13.1%) | $1,165,357 (24.5%) | 2.35 | 525 |
| 2020-11-01 | $799,000 (9.5%) | $1,163,664 (23.5%) | 2.34 | 491 |
| 2020-12-01 | $817,500 (12.1%) | $1,184,791 (26.0%) | 2.43 | 429 |
| 2021-01-01 | $847,000 (15.6%) | $1,250,624 (32.6%) | 2.53 | 372 |
| 2021-02-01 | $825,000 (10.2%) | $1,262,324 (29.7%) | 2.40 | 311 |
| 2021-03-01 | $842,850 (12.5%) | $1,279,845 (25.8%) | 2.39 | 301 |
| 2021-04-01 | $897,000 (19.8%) | $1,425,972 (41.8%) | 2.43 | 307 |
| 2021-05-01 | $886,500 (16.3%) | $1,431,031 (38.5%) | 2.35 | 344 |
| 2021-06-01 | $892,000 (15.0%) | $1,440,471 (40.0%) | 2.35 | 348 |
| 2021-07-01 | $889,000 (12.1%) | $1,362,149 (28.4%) | 2.35 | 385 |
| 2021-08-01 | $888,000 (11.0%) | $1,411,259 (26.3%) | 2.37 | 356 |
| 2021-09-01 | $901,750 (12.8%) | $1,446,565 (24.7%) | 2.40 | 348 |
| 2021-10-01 | $950,000 (15.9%) | $1,567,842 (34.5%) | 2.53 | 300 |
| 2021-11-01 | $957,625 (19.9%) | $1,573,505 (35.2%) | 2.56 | 288 |
| 2021-12-01 | $986,250 (20.6%) | $1,601,964 (35.2%) | 2.67 | 235 |
| 2022-01-01 | $1,049,500 (23.9%) | $1,941,953 (55.3%) | 2.84 | 200 |
| 2022-02-01 | $975,000 (18.2%) | $1,839,763 (45.7%) | 2.54 | 211 |
| 2022-03-01 | $991,375 (17.6%) | $1,750,484 (36.8%) | 2.48 | 238 |
| 2022-04-01 | $999,450 (11.4%) | $1,653,293 (15.9%) | 2.38 | 254 |
| 2022-05-01 | $996,250 (12.4%) | $1,595,536 (11.5%) | 2.28 | 337 |
| 2022-06-01 | $997,249 (11.8%) | $1,539,960 (6.9%) | 2.22 | 413 |
| 2022-07-01 | $925,000 (4.1%) | $1,409,572 (3.5%) | 2.08 | 478 |
| 2022-08-01 | $914,750 (3.0%) | $1,427,903 (1.2%) | 2.11 | 481 |
| 2022-09-01 | $949,500 (5.3%) | $1,463,864 (1.2%) | 2.22 | 449 |
| 2022-10-01 | $929,000 (-2.2%) | $1,425,999 (-9.1%) | 2.19 | 456 |
| 2022-11-01 | $950,000 (-0.8%) | $1,460,384 (-7.2%) | 2.28 | 454 |
| 2022-12-01 | $954,500 (-3.2%) | $1,467,141 (-8.4%) | 2.36 | 400 |
| 2023-01-01 | $952,000 (-9.3%) | $1,283,047 (-33.9%) | 2.36 | 353 |
| 2023-02-01 | $949,000 (-2.7%) | $1,329,969 (-27.7%) | 2.29 | 341 |
| 2023-03-01 | $980,000 (-1.2%) | $1,359,082 (-22.4%) | 2.31 | 316 |
| 2023-04-01 | $995,000 (-0.5%) | $1,370,944 (-17.1%) | 2.31 | 323 |
| 2023-05-01 | $992,625 (-0.4%) | $1,380,794 (-13.5%) | 2.25 | 342 |
| 2023-06-01 | $1,015,000 (1.8%) | $1,444,641 (-6.2%) | 2.28 | 356 |
| 2023-07-01 | $1,075,000 (16.2%) | $1,505,893 (6.8%) | 2.44 | 363 |
| 2023-08-01 | $1,124,950 (23.0%) | $1,541,112 (7.9%) | 2.58 | 405 |
| 2023-09-01 | $1,100,000 (15.9%) | $1,579,983 (7.9%) | 2.56 | 429 |
| 2023-10-01 | $1,000,000 (7.6%) | $1,534,693 (7.6%) | 2.35 | 444 |
| 2023-11-01 | $999,000 (5.2%) | $1,505,755 (3.1%) | 2.38 | 455 |
| 2023-12-01 | $999,000 (4.7%) | $1,555,375 (6.0%) | 2.44 | 395 |
| 2024-01-01 | $997,000 (4.7%) | $1,568,222 (22.2%) | 2.43 | 355 |
| 2024-02-01 | $1,029,250 (8.5%) | $1,618,761 (21.7%) | 2.48 | 344 |
| 2024-03-01 | $999,000 (1.9%) | $1,580,777 (16.3%) | 2.35 | 377 |
| 2024-04-01 | $1,100,000 (10.6%) | $1,611,617 (17.6%) | 2.56 | 420 |
| 2024-05-01 | $1,199,875 (20.9%) | $1,732,189 (25.5%) | 2.71 | 441 |
| 2024-06-01 | $1,200,000 (18.2%) | $1,782,187 (23.4%) | 2.70 | 462 |
| 2024-07-01 | $1,155,500 (7.5%) | $1,707,080 (13.4%) | 2.64 | 517 |
| 2024-08-01 | $1,125,000 (0.0%) | $1,673,700 (8.6%) | 2.62 | 529 |
| 2024-09-01 | $1,110,000 (0.9%) | $1,595,915 (1.0%) | 2.61 | 588 |
| 2024-10-01 | $1,160,000 (16.0%) | $1,641,701 (7.0%) | 2.73 | 582 |
| 2024-11-01 | $1,149,000 (15.0%) | $1,640,748 (9.0%) | 2.76 | 557 |
San Luis Obispo's median listing price comes in at 276% of the national average.
San Luis Obispo's average listing price for 2024-11-01 was $1,640,748, a difference of $134,993 (9.0%) versus the prior year and $-953 versus the prior month.
For the 2024-11-01 period, San Luis Obispo had 557 MLS listings, a difference of -25 listings (-4%) versus the prior month and 102 listings (22%) 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 | 75 days | 1,956 sqft |
| 2018-02-01 | 62 days | 1,932 sqft |
| 2018-03-01 | 46 days | 1,929 sqft |
| 2018-04-01 | 44 days | 1,985 sqft |
| 2018-05-01 | 43 days | 2,013 sqft |
| 2018-06-01 | 47 days | 2,001 sqft |
| 2018-07-01 | 51 days | 1,935 sqft |
| 2018-08-01 | 54 days | 1,951 sqft |
| 2018-09-01 | 57 days | 1,926 sqft |
| 2018-10-01 | 61 days | 1,906 sqft |
| 2018-11-01 | 65 days | 1,902 sqft |
| 2018-12-01 | 71 days | 1,886 sqft |
| 2019-01-01 | 74 days | 1,881 sqft |
| 2019-02-01 | 64 days | 1,908 sqft |
| 2019-03-01 | 57 days | 1,908 sqft |
| 2019-04-01 | 57 days | 1,912 sqft |
| 2019-05-01 | 53 days | 1,930 sqft |
| 2019-06-01 | 59 days | 1,923 sqft |
| 2019-07-01 | 64 days | 1,980 sqft |
| 2019-08-01 | 67 days | 1,966 sqft |
| 2019-09-01 | 72 days | 1,925 sqft |
| 2019-10-01 | 75 days | 1,892 sqft |
| 2019-11-01 | 77 days | 1,890 sqft |
| 2019-12-01 | 88 days | 1,892 sqft |
| 2020-01-01 | 84 days | 1,878 sqft |
| 2020-02-01 | 75 days | 1,882 sqft |
| 2020-03-01 | 59 days | 1,882 sqft |
| 2020-04-01 | 64 days | 1,897 sqft |
| 2020-05-01 | 74 days | 1,930 sqft |
| 2020-06-01 | 91 days | 1,947 sqft |
| 2020-07-01 | 76 days | 1,936 sqft |
| 2020-08-01 | 64 days | 1,905 sqft |
| 2020-09-01 | 67 days | 1,929 sqft |
| 2020-10-01 | 66 days | 1,946 sqft |
| 2020-11-01 | 72 days | 1,947 sqft |
| 2020-12-01 | 79 days | 1,926 sqft |
| 2021-01-01 | 84 days | 1,904 sqft |
| 2021-02-01 | 73 days | 1,927 sqft |
| 2021-03-01 | 52 days | 1,889 sqft |
| 2021-04-01 | 49 days | 1,992 sqft |
| 2021-05-01 | 44 days | 1,971 sqft |
| 2021-06-01 | 43 days | 1,889 sqft |
| 2021-07-01 | 39 days | 1,861 sqft |
| 2021-08-01 | 45 days | 1,834 sqft |
| 2021-09-01 | 46 days | 1,846 sqft |
| 2021-10-01 | 46 days | 1,921 sqft |
| 2021-11-01 | 47 days | 1,879 sqft |
| 2021-12-01 | 54 days | 1,881 sqft |
| 2022-01-01 | 62 days | 1,974 sqft |
| 2022-02-01 | 42 days | 1,921 sqft |
| 2022-03-01 | 35 days | 1,877 sqft |
| 2022-04-01 | 36 days | 1,867 sqft |
| 2022-05-01 | 32 days | 1,889 sqft |
| 2022-06-01 | 37 days | 1,877 sqft |
| 2022-07-01 | 39 days | 1,859 sqft |
| 2022-08-01 | 50 days | 1,865 sqft |
| 2022-09-01 | 55 days | 1,898 sqft |
| 2022-10-01 | 55 days | 1,869 sqft |
| 2022-11-01 | 60 days | 1,791 sqft |
| 2022-12-01 | 68 days | 1,777 sqft |
| 2023-01-01 | 77 days | 1,800 sqft |
| 2023-02-01 | 72 days | 1,806 sqft |
| 2023-03-01 | 59 days | 1,868 sqft |
| 2023-04-01 | 56 days | 1,848 sqft |
| 2023-05-01 | 46 days | 1,833 sqft |
| 2023-06-01 | 43 days | 1,827 sqft |
| 2023-07-01 | 45 days | 1,847 sqft |
| 2023-08-01 | 47 days | 1,966 sqft |
| 2023-09-01 | 54 days | 1,916 sqft |
| 2023-10-01 | 58 days | 1,901 sqft |
| 2023-11-01 | 59 days | 1,871 sqft |
| 2023-12-01 | 70 days | 1,807 sqft |
| 2024-01-01 | 78 days | 1,790 sqft |
| 2024-02-01 | 63 days | 1,768 sqft |
| 2024-03-01 | 51 days | 1,808 sqft |
| 2024-04-01 | 49 days | 1,837 sqft |
| 2024-05-01 | 46 days | 1,911 sqft |
| 2024-06-01 | 52 days | 1,902 sqft |
| 2024-07-01 | 53 days | 1,920 sqft |
| 2024-08-01 | 57 days | 1,927 sqft |
| 2024-09-01 | 58 days | 1,888 sqft |
| 2024-10-01 | 61 days | 1,932 sqft |
| 2024-11-01 | 70 days | 1,867 sqft |
San Luis Obispo's median square footage for active listings during the 2024-11-01 period was 1,867 sqft. One year prior, the average listing was 1,871 sqft.