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
6.8%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Torrington's average USDA mortgage closing costs are $6,513.
The average rate for the prior week (2024-04-12) was
6.55% and
one month ago for the week of 2024-03-15, the
average rate was 6.63%.
The average rate one year ago was 6.17%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.88%.
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 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 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.