Syracuse USDA Loans

SYRACUSE, NY

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.

Syracuse's 18 lenders originated 47 USDA loans during 2021. The total origination value was $6,405,000, with an average USDA loan value of $136,277.

Syracuse USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Syracuse averaged 5.14% for the week of 2022-08-05, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-07-29) was 5.26% and one month ago for the week of 2022-07-01, the average rate was 5.8%.

The average rate one year ago was 2.98%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.25%.

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

Syracuse 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 Syracuse level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
PARAGON HOME LOANS INC. 9 2.93% $4,652
PLAZA HOME MORTGAGE, INC. 8 2.94% $6,164
HOMESTEAD FUNDING CORP. 6 3.04% $2,169
1ST PRIORITY MORTGAGE, INC. 3 3.08% $4,390
HUNT MORTGAGE CORPORATION 3 3.04% $4,763
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 3.46% $6,648
CALIBER HOME LOANS, INC. 2 2.87% $7,009
Premium Mortgage Corporation 2 2.94% $1,961
SEFCU SERVICES, LLC 1 3.00% $3,469
LOANDEPOT.COM, LLC 1 3.00% $6,101
Manufacturers and Traders Trust Company 1 3.25% $4,753
MOVEMENT MORTGAGE, LLC 1 3.25% $6,455
Bank of England 1 3.00% $6,666
AMERICAN FINANCIAL NETWORK, INC. 1 2.88% $8,712
Carrington Mortgage Services, LLC 1 2.63% $3,479
Genesee Regional Bank 1 3.88% $5,377
Community Bank 1 2.63% $3,727
HOME POINT FINANCIAL CORPORATION 1 2.63% $4,514

The top Syracuse USDA lender as defined by loan originations is PARAGON HOME LOANS INC., with 9 USDA loans originated. Their average total fees are $4,652, which is $1,512 lower than the next largest lender, PLAZA HOME MORTGAGE, INC..

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Syracuse (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 $148,950 (4.4%) $199,945 (-2.1%) 0.55 1,862
2018-02-01 $154,750 (4.8%) $209,091 (2.5%) 0.56 1,748
2018-03-01 $160,000 (3.2%) $216,520 (1.7%) 0.55 1,751
2018-04-01 $173,700 (2.8%) $227,390 (1.8%) 0.58 1,729
2018-05-01 $174,900 (3.6%) $228,098 (2.6%) 0.58 1,801
2018-06-01 $179,000 (5.9%) $237,778 (4.9%) 0.60 2,000
2018-07-01 $179,900 (9.1%) $243,202 (10.2%) 0.60 2,112
2018-08-01 $179,900 (9.1%) $241,455 (10.0%) 0.60 2,164
2018-09-01 $179,000 (11.9%) $236,872 (11.9%) 0.60 2,141
2018-10-01 $175,700 (10.2%) $235,393 (12.6%) 0.59 2,141
2018-11-01 $172,700 (11.5%) $236,287 (13.3%) 0.58 1,998
2018-12-01 $169,900 (13.3%) $241,173 (18.1%) 0.58 1,779
2019-01-01 $169,950 (14.1%) $242,698 (21.4%) 0.59 1,550
2019-02-01 $174,950 (13.1%) $237,702 (13.7%) 0.59 1,511
2019-03-01 $185,671 (16.0%) $250,228 (15.6%) 0.61 1,499
2019-04-01 $204,900 (18.0%) $268,457 (18.1%) 0.65 1,483
2019-05-01 $207,900 (18.9%) $271,163 (18.9%) 0.64 1,535
2019-06-01 $204,900 (14.5%) $273,699 (15.1%) 0.63 1,662
2019-07-01 $202,400 (12.5%) $276,724 (13.8%) 0.63 1,781
2019-08-01 $199,086 (10.7%) $269,331 (11.5%) 0.63 1,795
2019-09-01 $196,450 (9.8%) $265,535 (12.1%) 0.62 1,797
2019-10-01 $186,950 (6.4%) $256,966 (9.2%) 0.60 1,890
2019-11-01 $179,900 (4.2%) $255,104 (8.0%) 0.58 1,764
2019-12-01 $174,900 (2.9%) $259,814 (7.7%) 0.58 1,614
2020-01-01 $172,700 (1.6%) $265,059 (9.2%) 0.58 1,414
2020-02-01 $184,900 (5.7%) $275,102 (15.7%) 0.60 1,317
2020-03-01 $194,200 (4.6%) $285,467 (14.1%) 0.61 1,205
2020-04-01 $199,950 (-2.4%) $295,117 (9.9%) 0.62 1,143
2020-05-01 $205,900 (-1.0%) $302,100 (11.4%) 0.62 1,058
2020-06-01 $207,900 (1.5%) $311,944 (14.0%) 0.61 1,095
2020-07-01 $217,450 (7.4%) $333,057 (20.4%) 0.62 1,039
2020-08-01 $220,000 (10.5%) $331,466 (23.1%) 0.63 1,031
2020-09-01 $210,250 (7.0%) $326,482 (23.0%) 0.60 1,044
2020-10-01 $209,000 (11.8%) $312,276 (21.5%) 0.60 1,043
2020-11-01 $197,750 (9.9%) $301,575 (18.2%) 0.57 955
2020-12-01 $189,450 (8.3%) $305,478 (17.6%) 0.56 874
2021-01-01 $185,000 (7.1%) $309,398 (16.7%) 0.54 728
2021-02-01 $205,200 (11.0%) $330,905 (20.3%) 0.59 612
2021-03-01 $212,700 (9.5%) $338,746 (18.7%) 0.60 608
2021-04-01 $225,000 (12.5%) $351,507 (19.1%) 0.60 633
2021-05-01 $224,900 (9.2%) $356,600 (18.0%) 0.59 689
2021-06-01 $224,900 (8.2%) $360,803 (15.7%) 0.58 792
2021-07-01 $219,750 (1.1%) $355,159 (6.6%) 0.57 864
2021-08-01 $199,450 (-9.3%) $324,679 (-2.1%) 0.52 954
2021-09-01 $192,450 (-8.5%) $326,681 (0.1%) 0.51 927
2021-10-01 $194,000 (-7.2%) $315,046 (0.9%) 0.51 923
2021-11-01 $182,400 (-7.8%) $311,999 (3.5%) 0.48 788
2021-12-01 $180,000 (-5.0%) $319,388 (4.6%) 0.48 658
2022-01-01 $189,900 (2.7%) $319,798 (3.4%) 0.51 568
2022-02-01 $189,450 (-7.7%) $344,655 (4.2%) 0.48 525
2022-03-01 $198,250 (-6.8%) $352,388 (4.0%) 0.49 519
2022-04-01 $199,900 (-11.2%) $347,037 (-1.3%) 0.47 522
2022-05-01 $224,000 (-0.4%) $343,272 (-3.7%) 0.50 606
2022-06-01 $237,000 (5.4%) $360,611 (-0.1%) 0.53 716
Syracuse's median listing price for 2022-06-01 was $237,000, a difference of $12,100 (5.4%) versus the prior year and $13,000 versus the prior month.

Syracuse's median listing price comes in at 53% of the national average.

Syracuse's average listing price for 2022-06-01 was $360,611, a difference of $-192 (-0.1%) versus the prior year and $17,339 versus the prior month.

For the 2022-06-01 period, Syracuse had 716 MLS listings, a difference of 110 listings (18%) versus the prior month and -76 listings (-10%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Syracuse (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 94 days 1,676 sqft
2018-02-01 100 days 1,684 sqft
2018-03-01 86 days 1,710 sqft
2018-04-01 65 days 1,735 sqft
2018-05-01 56 days 1,760 sqft
2018-06-01 51 days 1,779 sqft
2018-07-01 52 days 1,782 sqft
2018-08-01 60 days 1,778 sqft
2018-09-01 66 days 1,764 sqft
2018-10-01 72 days 1,771 sqft
2018-11-01 77 days 1,768 sqft
2018-12-01 90 days 1,756 sqft
2019-01-01 97 days 1,763 sqft
2019-02-01 92 days 1,759 sqft
2019-03-01 67 days 1,787 sqft
2019-04-01 59 days 1,825 sqft
2019-05-01 57 days 1,808 sqft
2019-06-01 52 days 1,805 sqft
2019-07-01 53 days 1,803 sqft
2019-08-01 57 days 1,790 sqft
2019-09-01 65 days 1,788 sqft
2019-10-01 63 days 1,778 sqft
2019-11-01 72 days 1,764 sqft
2019-12-01 86 days 1,754 sqft
2020-01-01 98 days 1,746 sqft
2020-02-01 102 days 1,770 sqft
2020-03-01 91 days 1,787 sqft
2020-04-01 87 days 1,800 sqft
2020-05-01 95 days 1,802 sqft
2020-06-01 86 days 1,820 sqft
2020-07-01 58 days 1,823 sqft
2020-08-01 58 days 1,824 sqft
2020-09-01 57 days 1,807 sqft
2020-10-01 51 days 1,800 sqft
2020-11-01 67 days 1,764 sqft
2020-12-01 78 days 1,760 sqft
2021-01-01 88 days 1,717 sqft
2021-02-01 89 days 1,767 sqft
2021-03-01 70 days 1,760 sqft
2021-04-01 53 days 1,764 sqft
2021-05-01 50 days 1,778 sqft
2021-06-01 49 days 1,789 sqft
2021-07-01 47 days 1,744 sqft
2021-08-01 54 days 1,705 sqft
2021-09-01 55 days 1,687 sqft
2021-10-01 61 days 1,688 sqft
2021-11-01 71 days 1,651 sqft
2021-12-01 77 days 1,640 sqft
2022-01-01 80 days 1,651 sqft
2022-02-01 81 days 1,650 sqft
2022-03-01 70 days 1,655 sqft
2022-04-01 62 days 1,655 sqft
2022-05-01 51 days 1,692 sqft
2022-06-01 43 days 1,730 sqft
Syracuse's median listing age (time on market) for 2022-06-01 was 43 days. This is -13% shorter than the same period one year ago.

Syracuse's median square footage for active listings during the 2022-06-01 period was 1,730 sqft. One year prior, the average listing was 1,789 sqft.