Syracuse USDA Loan Rates, Closing Costs & Stats

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 6 lenders originated 7 USDA loans during 2023. The total origination value was $1,085,000, with an average USDA loan value of $155,000.

Syracuse USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Syracuse averaged 6.62% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Syracuse's average USDA mortgage closing costs are $4,727.

The average rate for the prior week (2024-04-05) was 6.44% and one month ago for the week of 2024-03-08, the average rate was 6.5%.

The average rate one year ago was 6.21%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.25%.

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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Syracuse level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
PARAGON HOME LOANS INC. 2 6.94% $7,433
BOKF 1 6.63% $8,913
Genesee Regional Bank 1 6.63% $6,042
HUNT MORTGAGE CORPORATION 1 6.63% $7,418
MOVEMENT MORTGAGE, LLC 1 6.75% $7,593
PLAZA HOME MORTGAGE, INC. 1 5.88% $9,467

The top Syracuse USDA lender as defined by loan originations is PARAGON HOME LOANS INC., with 2 USDA loans originated. Their average total fees are $7,433, which is $1,480 lower than the next largest lender, BOKF.

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 (5.5%) $200,081 (-0.9%) 0.55 1,810
2018-02-01 $155,125 (6.4%) $207,401 (3.6%) 0.56 1,689
2018-03-01 $163,400 (7.2%) $215,644 (3.4%) 0.57 1,672
2018-04-01 $169,950 (3.0%) $225,201 (3.3%) 0.58 1,664
2018-05-01 $174,900 (6.0%) $227,983 (3.8%) 0.58 1,740
2018-06-01 $175,000 (5.1%) $237,118 (5.6%) 0.58 1,920
2018-07-01 $179,700 (9.0%) $242,082 (10.8%) 0.60 2,033
2018-08-01 $179,900 (9.1%) $240,878 (10.7%) 0.60 2,087
2018-09-01 $175,000 (9.4%) $236,349 (12.1%) 0.59 2,061
2018-10-01 $174,950 (9.7%) $235,491 (12.8%) 0.59 2,057
2018-11-01 $169,950 (9.7%) $235,310 (13.3%) 0.58 1,923
2018-12-01 $169,900 (13.3%) $238,105 (16.6%) 0.59 1,721
2019-01-01 $167,450 (12.4%) $239,692 (19.8%) 0.58 1,493
2019-02-01 $173,700 (12.0%) $235,187 (13.4%) 0.59 1,454
2019-03-01 $185,614 (13.6%) $247,073 (14.6%) 0.61 1,445
2019-04-01 $199,900 (17.6%) $264,669 (17.5%) 0.63 1,436
2019-05-01 $199,900 (14.3%) $268,203 (17.6%) 0.62 1,479
2019-06-01 $199,900 (14.2%) $269,571 (13.7%) 0.62 1,617
2019-07-01 $199,900 (11.2%) $273,663 (13.1%) 0.63 1,726
2019-08-01 $192,845 (7.2%) $262,388 (8.9%) 0.61 1,773
2019-09-01 $185,564 (6.0%) $254,620 (7.7%) 0.59 1,798
2019-10-01 $179,900 (2.8%) $248,245 (5.4%) 0.58 1,818
2019-11-01 $176,900 (4.1%) $249,928 (6.2%) 0.58 1,687
2019-12-01 $171,250 (0.8%) $252,807 (6.2%) 0.57 1,534
2020-01-01 $166,880 (-0.3%) $251,098 (4.8%) 0.56 1,362
2020-02-01 $176,900 (1.8%) $261,561 (11.2%) 0.58 1,267
2020-03-01 $184,925 (-0.4%) $270,996 (9.7%) 0.58 1,167
2020-04-01 $189,950 (-5.0%) $279,534 (5.6%) 0.60 1,091
2020-05-01 $196,000 (-2.0%) $285,174 (6.3%) 0.60 1,020
2020-06-01 $199,500 (-0.2%) $302,872 (12.4%) 0.59 1,073
2020-07-01 $199,950 (0.0%) $316,797 (15.8%) 0.58 1,007
2020-08-01 $199,900 (3.7%) $305,883 (16.6%) 0.57 1,008
2020-09-01 $199,225 (7.4%) $308,869 (21.3%) 0.57 1,015
2020-10-01 $189,900 (5.6%) $293,688 (18.3%) 0.54 1,019
2020-11-01 $189,225 (7.0%) $296,132 (18.5%) 0.55 918
2020-12-01 $186,450 (8.9%) $302,794 (19.8%) 0.55 852
2021-01-01 $179,900 (7.8%) $304,095 (21.1%) 0.54 712
2021-02-01 $196,450 (11.1%) $325,994 (24.6%) 0.57 595
2021-03-01 $203,150 (9.9%) $335,491 (23.8%) 0.58 588
2021-04-01 $219,450 (15.5%) $344,870 (23.4%) 0.59 619
2021-05-01 $219,900 (12.2%) $353,925 (24.1%) 0.58 674
2021-06-01 $222,400 (11.5%) $353,994 (16.9%) 0.59 786
2021-07-01 $219,900 (10.0%) $350,205 (10.6%) 0.58 881
2021-08-01 $194,900 (-2.5%) $316,297 (3.4%) 0.52 946
2021-09-01 $188,950 (-5.2%) $315,999 (2.3%) 0.50 911
2021-10-01 $189,900 (0.0%) $310,386 (5.7%) 0.51 908
2021-11-01 $181,450 (-4.1%) $307,639 (3.9%) 0.49 778
2021-12-01 $179,900 (-3.5%) $317,800 (5.0%) 0.49 647
2022-01-01 $189,200 (5.2%) $320,760 (5.5%) 0.51 561
2022-02-01 $185,425 (-5.6%) $339,731 (4.2%) 0.48 515
2022-03-01 $195,850 (-3.6%) $342,021 (2.0%) 0.49 516
2022-04-01 $199,900 (-8.9%) $337,195 (-2.2%) 0.48 524
2022-05-01 $217,450 (-1.1%) $332,369 (-6.1%) 0.50 601
2022-06-01 $229,950 (3.4%) $352,645 (-0.4%) 0.51 695
2022-07-01 $234,900 (6.8%) $362,740 (3.6%) 0.53 774
2022-08-01 $224,500 (15.2%) $353,837 (11.9%) 0.52 780
2022-09-01 $219,900 (16.4%) $343,943 (8.8%) 0.51 783
2022-10-01 $215,000 (13.2%) $338,092 (8.9%) 0.51 796
2022-11-01 $211,225 (16.4%) $345,242 (12.2%) 0.51 737
2022-12-01 $209,250 (16.3%) $360,076 (13.3%) 0.52 637
2023-01-01 $205,000 (8.4%) $361,588 (12.7%) 0.51 537
2023-02-01 $226,610 (22.2%) $366,748 (8.0%) 0.55 513
2023-03-01 $234,900 (19.9%) $359,347 (5.1%) 0.55 516
2023-04-01 $242,900 (21.5%) $369,479 (9.6%) 0.56 531
2023-05-01 $229,400 (5.5%) $366,545 (10.3%) 0.52 543
2023-06-01 $267,400 (16.3%) $390,796 (10.8%) 0.60 576
2023-07-01 $260,000 (10.7%) $395,590 (9.1%) 0.59 602
2023-08-01 $262,400 (16.9%) $387,396 (9.5%) 0.60 651
2023-09-01 $256,250 (16.5%) $379,921 (10.5%) 0.60 680
2023-10-01 $259,450 (20.7%) $377,457 (11.6%) 0.61 696
2023-11-01 $242,900 (15.0%) $366,953 (6.3%) 0.58 687
2023-12-01 $249,900 (19.4%) $366,179 (1.7%) 0.61 628
2024-01-01 $256,950 (25.3%) $382,461 (5.8%) 0.63 576
2024-02-01 $252,450 (11.4%) $382,569 (4.3%) 0.61 519
2024-03-01 $274,900 (17.0%) $397,432 (10.6%) 0.65 516
Syracuse's median listing price for 2024-03-01 was $274,900, a difference of $40,000 (17.0%) versus the prior year and $22,450 versus the prior month.

Syracuse's median listing price comes in at 65% of the national average.

Syracuse's average listing price for 2024-03-01 was $397,432, a difference of $38,085 (10.6%) versus the prior year and $14,863 versus the prior month.

For the 2024-03-01 period, Syracuse had 516 MLS listings, a difference of -3 listings (-1%) versus the prior month and 0 listings (0%) 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 89 days 1,678 sqft
2018-02-01 94 days 1,693 sqft
2018-03-01 73 days 1,719 sqft
2018-04-01 58 days 1,735 sqft
2018-05-01 50 days 1,767 sqft
2018-06-01 46 days 1,776 sqft
2018-07-01 49 days 1,787 sqft
2018-08-01 57 days 1,784 sqft
2018-09-01 64 days 1,764 sqft
2018-10-01 69 days 1,769 sqft
2018-11-01 73 days 1,766 sqft
2018-12-01 85 days 1,753 sqft
2019-01-01 91 days 1,754 sqft
2019-02-01 79 days 1,757 sqft
2019-03-01 63 days 1,784 sqft
2019-04-01 52 days 1,816 sqft
2019-05-01 51 days 1,800 sqft
2019-06-01 45 days 1,800 sqft
2019-07-01 48 days 1,799 sqft
2019-08-01 53 days 1,780 sqft
2019-09-01 61 days 1,773 sqft
2019-10-01 67 days 1,766 sqft
2019-11-01 71 days 1,758 sqft
2019-12-01 83 days 1,748 sqft
2020-01-01 97 days 1,727 sqft
2020-02-01 100 days 1,749 sqft
2020-03-01 87 days 1,773 sqft
2020-04-01 88 days 1,786 sqft
2020-05-01 96 days 1,799 sqft
2020-06-01 68 days 1,810 sqft
2020-07-01 54 days 1,805 sqft
2020-08-01 59 days 1,795 sqft
2020-09-01 59 days 1,790 sqft
2020-10-01 55 days 1,780 sqft
2020-11-01 66 days 1,768 sqft
2020-12-01 76 days 1,758 sqft
2021-01-01 80 days 1,717 sqft
2021-02-01 79 days 1,761 sqft
2021-03-01 58 days 1,758 sqft
2021-04-01 42 days 1,752 sqft
2021-05-01 42 days 1,776 sqft
2021-06-01 40 days 1,789 sqft
2021-07-01 43 days 1,738 sqft
2021-08-01 48 days 1,701 sqft
2021-09-01 51 days 1,679 sqft
2021-10-01 57 days 1,680 sqft
2021-11-01 67 days 1,639 sqft
2021-12-01 74 days 1,633 sqft
2022-01-01 77 days 1,645 sqft
2022-02-01 75 days 1,640 sqft
2022-03-01 63 days 1,643 sqft
2022-04-01 51 days 1,651 sqft
2022-05-01 38 days 1,686 sqft
2022-06-01 35 days 1,719 sqft
2022-07-01 43 days 1,729 sqft
2022-08-01 49 days 1,731 sqft
2022-09-01 56 days 1,705 sqft
2022-10-01 58 days 1,664 sqft
2022-11-01 61 days 1,645 sqft
2022-12-01 72 days 1,630 sqft
2023-01-01 84 days 1,616 sqft
2023-02-01 83 days 1,652 sqft
2023-03-01 64 days 1,655 sqft
2023-04-01 54 days 1,667 sqft
2023-05-01 54 days 1,613 sqft
2023-06-01 49 days 1,700 sqft
2023-07-01 50 days 1,715 sqft
2023-08-01 52 days 1,693 sqft
2023-09-01 54 days 1,700 sqft
2023-10-01 57 days 1,700 sqft
2023-11-01 54 days 1,663 sqft
2023-12-01 61 days 1,619 sqft
2024-01-01 73 days 1,621 sqft
2024-02-01 79 days 1,603 sqft
2024-03-01 61 days 1,630 sqft
Syracuse's median listing age (time on market) for 2024-03-01 was 61 days. This is -5% shorter than the same period one year ago.

Syracuse's median square footage for active listings during the 2024-03-01 period was 1,630 sqft. One year prior, the average listing was 1,655 sqft.