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%.
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 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 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.
