Torrington USDA Loan Rates, Closing Costs & Stats

Torrington, CT

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.

Torrington's 4 lenders originated 4 USDA loans during 2023. The total origination value was $1,230,000, with an average USDA loan value of $307,500.

Torrington USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Torrington averaged 6.64% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Torrington's average USDA mortgage closing costs are $6,513.

The average rate for the prior week (2024-04-05) was 6.66% and one month ago for the week of 2024-03-08, the average rate was 6.62%.

The average rate one year ago was 6.13%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.92%.

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

Torrington 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 Torrington level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Keystone Funding, Inc. 1 6.75% $13,068
MOVEMENT MORTGAGE, LLC 1 6.75% $7,764
PROVINCE MORTGAGE ASSOCIATES, INC. 1 7.13% $9,393
TOTAL MORTGAGE SERVICES, LLC 1 6.13% $12,878

The top Torrington USDA lender as defined by loan originations is Keystone Funding, Inc., with 1 USDA loans originated. Their average total fees are $13,068, which is $5,304 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Torrington (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 $349,900 (6.1%) $641,342 (-0.4%) 1.30 1,365
2018-02-01 $355,750 (6.4%) $653,179 (-0.3%) 1.29 1,346
2018-03-01 $357,900 (3.9%) $638,493 (-6.9%) 1.26 1,393
2018-04-01 $359,000 (2.6%) $639,940 (-6.7%) 1.22 1,457
2018-05-01 $349,900 (-2.7%) $635,832 (-5.7%) 1.17 1,589
2018-06-01 $350,000 (-2.5%) $645,536 (-3.9%) 1.17 1,714
2018-07-01 $350,000 (-2.8%) $651,378 (-3.5%) 1.17 1,766
2018-08-01 $354,950 (1.5%) $656,124 (0.4%) 1.19 1,762
2018-09-01 $349,000 (-0.3%) $658,896 (0.6%) 1.17 1,756
2018-10-01 $344,950 (-1.4%) $660,423 (3.0%) 1.17 1,711
2018-11-01 $349,925 (0.0%) $676,375 (4.6%) 1.19 1,585
2018-12-01 $349,000 (-0.1%) $681,681 (7.7%) 1.20 1,477
2019-01-01 $349,900 (0.0%) $701,843 (9.4%) 1.21 1,343
2019-02-01 $353,475 (-0.6%) $708,797 (8.5%) 1.19 1,316
2019-03-01 $367,979 (2.8%) $716,780 (12.3%) 1.20 1,321
2019-04-01 $377,337 (5.1%) $707,597 (10.6%) 1.20 1,333
2019-05-01 $369,000 (5.5%) $690,491 (8.6%) 1.15 1,456
2019-06-01 $369,000 (5.4%) $677,903 (5.0%) 1.15 1,584
2019-07-01 $369,000 (5.4%) $667,364 (2.5%) 1.16 1,614
2019-08-01 $369,245 (4.0%) $663,852 (1.2%) 1.17 1,597
2019-09-01 $369,614 (5.9%) $658,361 (-0.1%) 1.18 1,587
2019-10-01 $372,450 (8.0%) $657,653 (-0.4%) 1.20 1,575
2019-11-01 $387,250 (10.7%) $677,440 (0.2%) 1.27 1,428
2019-12-01 $388,575 (11.3%) $695,742 (2.1%) 1.30 1,268
2020-01-01 $395,000 (12.9%) $706,736 (0.7%) 1.32 1,155
2020-02-01 $395,000 (11.8%) $704,170 (-0.7%) 1.29 1,103
2020-03-01 $399,000 (8.4%) $713,373 (-0.5%) 1.25 1,064
2020-04-01 $398,950 (5.7%) $720,458 (1.8%) 1.25 1,002
2020-05-01 $395,000 (7.1%) $694,918 (0.6%) 1.20 914
2020-06-01 $416,200 (12.8%) $789,814 (16.5%) 1.23 864
2020-07-01 $444,900 (20.6%) $825,605 (23.7%) 1.29 875
2020-08-01 $439,900 (19.1%) $814,214 (22.7%) 1.26 870
2020-09-01 $466,200 (26.1%) $823,199 (25.0%) 1.34 878
2020-10-01 $479,000 (28.6%) $848,641 (29.0%) 1.37 880
2020-11-01 $487,450 (25.9%) $888,957 (31.2%) 1.43 752
2020-12-01 $499,450 (28.5%) $922,267 (32.6%) 1.49 656
2021-01-01 $509,900 (29.1%) $1,071,864 (51.7%) 1.52 562
2021-02-01 $529,000 (33.9%) $1,122,294 (59.4%) 1.54 472
2021-03-01 $541,450 (35.7%) $1,183,788 (65.9%) 1.54 454
2021-04-01 $539,950 (35.3%) $1,119,098 (55.3%) 1.46 471
2021-05-01 $548,000 (38.7%) $1,139,519 (64.0%) 1.46 504
2021-06-01 $527,000 (26.6%) $1,096,759 (38.9%) 1.39 573
2021-07-01 $499,900 (12.4%) $1,041,410 (26.1%) 1.32 673
2021-08-01 $499,000 (13.4%) $1,008,902 (23.9%) 1.33 687
2021-09-01 $499,900 (7.2%) $1,011,388 (22.9%) 1.33 655
2021-10-01 $489,900 (2.3%) $1,000,387 (17.9%) 1.31 633
2021-11-01 $494,450 (1.4%) $1,045,673 (17.6%) 1.32 542
2021-12-01 $502,400 (0.6%) $1,066,235 (15.6%) 1.36 462
2022-01-01 $529,450 (3.8%) $1,218,183 (13.7%) 1.43 389
2022-02-01 $559,500 (5.8%) $1,280,928 (14.1%) 1.46 329
2022-03-01 $547,450 (1.1%) $1,213,733 (2.5%) 1.37 328
2022-04-01 $549,000 (1.7%) $1,185,915 (6.0%) 1.31 347
2022-05-01 $539,788 (-1.5%) $1,164,542 (2.2%) 1.23 428
2022-06-01 $549,900 (4.4%) $1,149,266 (4.8%) 1.22 491
2022-07-01 $539,900 (8.0%) $1,085,630 (4.3%) 1.22 523
2022-08-01 $554,675 (11.2%) $1,137,378 (12.7%) 1.28 527
2022-09-01 $553,450 (10.7%) $1,154,949 (14.2%) 1.29 496
2022-10-01 $545,000 (11.3%) $1,124,370 (12.4%) 1.28 480
2022-11-01 $527,000 (6.6%) $1,145,727 (9.6%) 1.27 434
2022-12-01 $549,999 (9.5%) $1,178,516 (10.5%) 1.36 387
2023-01-01 $566,000 (6.9%) $1,237,991 (1.6%) 1.40 325
2023-02-01 $598,500 (7.0%) $1,255,107 (-2.0%) 1.44 293
2023-03-01 $642,425 (17.4%) $1,305,840 (7.6%) 1.52 298
2023-04-01 $675,000 (23.0%) $1,336,434 (12.7%) 1.57 308
2023-05-01 $687,000 (27.3%) $1,366,496 (17.3%) 1.56 339
2023-06-01 $656,250 (19.3%) $1,250,193 (8.8%) 1.47 365
2023-07-01 $689,900 (27.8%) $1,176,739 (8.4%) 1.57 371
2023-08-01 $634,925 (14.5%) $1,107,221 (-2.7%) 1.46 368
2023-09-01 $619,999 (12.0%) $1,088,865 (-5.7%) 1.44 398
2023-10-01 $649,950 (19.3%) $1,086,473 (-3.4%) 1.53 423
2023-11-01 $649,950 (23.3%) $1,058,302 (-7.6%) 1.55 411
2023-12-01 $629,500 (14.5%) $1,033,071 (-12.3%) 1.54 368
2024-01-01 $617,125 (9.0%) $1,013,449 (-18.1%) 1.51 302
2024-02-01 $599,975 (0.3%) $962,782 (-23.3%) 1.44 284
2024-03-01 $599,900 (-6.6%) $1,024,594 (-21.5%) 1.41 280
Torrington's median listing price for 2024-03-01 was $599,900, a difference of $-42,525 (-6.6%) versus the prior year and $-75 versus the prior month.

Torrington's median listing price comes in at 141% of the national average.

Torrington's average listing price for 2024-03-01 was $1,024,594, a difference of $-281,246 (-21.5%) versus the prior year and $61,812 versus the prior month.

For the 2024-03-01 period, Torrington had 280 MLS listings, a difference of -4 listings (-1%) versus the prior month and -18 listings (-6%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Torrington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 119 days 2,080 sqft
2018-02-01 128 days 2,114 sqft
2018-03-01 109 days 2,116 sqft
2018-04-01 70 days 2,132 sqft
2018-05-01 65 days 2,105 sqft
2018-06-01 68 days 2,116 sqft
2018-07-01 75 days 2,134 sqft
2018-08-01 86 days 2,127 sqft
2018-09-01 92 days 2,089 sqft
2018-10-01 98 days 2,055 sqft
2018-11-01 102 days 2,058 sqft
2018-12-01 108 days 2,036 sqft
2019-01-01 120 days 2,030 sqft
2019-02-01 124 days 2,050 sqft
2019-03-01 104 days 2,102 sqft
2019-04-01 76 days 2,133 sqft
2019-05-01 65 days 2,218 sqft
2019-06-01 66 days 2,284 sqft
2019-07-01 74 days 2,268 sqft
2019-08-01 80 days 2,287 sqft
2019-09-01 85 days 2,292 sqft
2019-10-01 90 days 2,294 sqft
2019-11-01 101 days 2,282 sqft
2019-12-01 116 days 2,256 sqft
2020-01-01 126 days 2,275 sqft
2020-02-01 128 days 2,282 sqft
2020-03-01 109 days 2,305 sqft
2020-04-01 91 days 2,301 sqft
2020-05-01 86 days 2,277 sqft
2020-06-01 68 days 2,374 sqft
2020-07-01 49 days 2,422 sqft
2020-08-01 51 days 2,400 sqft
2020-09-01 51 days 2,439 sqft
2020-10-01 50 days 2,424 sqft
2020-11-01 64 days 2,461 sqft
2020-12-01 83 days 2,471 sqft
2021-01-01 100 days 2,468 sqft
2021-02-01 114 days 2,444 sqft
2021-03-01 97 days 2,426 sqft
2021-04-01 46 days 2,409 sqft
2021-05-01 41 days 2,400 sqft
2021-06-01 40 days 2,329 sqft
2021-07-01 43 days 2,233 sqft
2021-08-01 46 days 2,116 sqft
2021-09-01 57 days 2,129 sqft
2021-10-01 67 days 2,120 sqft
2021-11-01 74 days 2,136 sqft
2021-12-01 78 days 2,144 sqft
2022-01-01 88 days 2,249 sqft
2022-02-01 89 days 2,276 sqft
2022-03-01 48 days 2,218 sqft
2022-04-01 38 days 2,150 sqft
2022-05-01 30 days 2,114 sqft
2022-06-01 32 days 2,222 sqft
2022-07-01 38 days 2,175 sqft
2022-08-01 45 days 2,361 sqft
2022-09-01 54 days 2,330 sqft
2022-10-01 64 days 2,268 sqft
2022-11-01 70 days 2,295 sqft
2022-12-01 82 days 2,322 sqft
2023-01-01 93 days 2,319 sqft
2023-02-01 97 days 2,466 sqft
2023-03-01 56 days 2,469 sqft
2023-04-01 51 days 2,466 sqft
2023-05-01 38 days 2,452 sqft
2023-06-01 34 days 2,347 sqft
2023-07-01 45 days 2,306 sqft
2023-08-01 51 days 2,252 sqft
2023-09-01 50 days 2,300 sqft
2023-10-01 48 days 2,410 sqft
2023-11-01 60 days 2,439 sqft
2023-12-01 72 days 2,337 sqft
2024-01-01 81 days 2,291 sqft
2024-02-01 73 days 2,262 sqft
2024-03-01 55 days 2,182 sqft
Torrington's median listing age (time on market) for 2024-03-01 was 55 days. This is -2% shorter than the same period one year ago.

Torrington's median square footage for active listings during the 2024-03-01 period was 2,182 sqft. One year prior, the average listing was 2,469 sqft.