Utica USDA Loans

UTICA-ROME, 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.

Utica's 12 lenders originated 41 USDA loans during 2021. The total origination value was $5,095,000, with an average USDA loan value of $124,268.

Utica USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Utica averaged 5.25% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.28% and one month ago for the week of 2022-04-08, the average rate was 4.94%.

The average rate one year ago was 2.95%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.43%.

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

Utica 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 Utica level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
PLAZA HOME MORTGAGE, INC. 18 2.98% $6,234
PARAGON HOME LOANS INC. 6 3.04% $5,035
HOME POINT FINANCIAL CORPORATION 5 2.90% $3,980
Manufacturers and Traders Trust Company 3 3.83% $4,212
Premium Mortgage Corporation 2 3.19% $1,750
SEFCU SERVICES, LLC 1 3.00% $4,006
CALIBER HOME LOANS, INC. 1 2.38% $10,942
UNITED WHOLESALE MORTGAGE, LLC 1 2.50% $7,960
Carrington Mortgage Services, LLC 1 2.63% $7,982
COMMONFUND MORTGAGE CORP. 1 2.38% $5,076
GUARANTEED RATE, INC. 1 2.75% $4,660
HOMESTEAD FUNDING CORP. 1 2.88% $2,270

The top Utica USDA lender as defined by loan originations is PLAZA HOME MORTGAGE, INC., with 18 USDA loans originated. Their average total fees are $6,234, which is $1,199 higher than the next largest lender, PARAGON HOME LOANS INC..

The lowest fee Utica USDA lenders (with over 10 loans originated) are PLAZA HOME MORTGAGE, INC. ($6,234), .

The lowest rate Utica USDA lenders (with over 10 loans originated) are PLAZA HOME MORTGAGE, INC. (2.98%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Utica (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 $124,900 (4.2%) $189,159 (5.9%) 0.46 951
2018-02-01 $129,900 (5.7%) $197,293 (7.0%) 0.47 953
2018-03-01 $139,900 (8.5%) $201,493 (5.8%) 0.48 929
2018-04-01 $143,400 (10.4%) $207,902 (6.1%) 0.48 916
2018-05-01 $141,950 (2.9%) $207,105 (4.0%) 0.47 948
2018-06-01 $149,900 (5.6%) $218,996 (11.8%) 0.50 1,051
2018-07-01 $149,900 (0.6%) $219,995 (9.9%) 0.50 1,140
2018-08-01 $149,000 (6.5%) $214,056 (4.6%) 0.50 1,175
2018-09-01 $147,500 (5.4%) $212,146 (5.5%) 0.49 1,187
2018-10-01 $137,250 (1.7%) $197,747 (-0.3%) 0.46 1,130
2018-11-01 $130,000 (-2.0%) $200,438 (1.7%) 0.44 1,033
2018-12-01 $129,900 (0.7%) $198,288 (4.4%) 0.44 970
2019-01-01 $129,900 (4.0%) $201,699 (6.6%) 0.45 885
2019-02-01 $133,900 (3.1%) $209,217 (6.0%) 0.45 804
2019-03-01 $141,386 (1.1%) $220,473 (9.4%) 0.46 770
2019-04-01 $149,950 (4.6%) $228,776 (10.0%) 0.47 748
2019-05-01 $157,450 (10.9%) $230,386 (11.2%) 0.49 775
2019-06-01 $159,900 (6.7%) $232,374 (6.1%) 0.49 859
2019-07-01 $159,950 (6.7%) $232,230 (5.6%) 0.50 934
2019-08-01 $159,900 (7.3%) $224,931 (5.1%) 0.50 961
2019-09-01 $159,450 (8.1%) $219,330 (3.4%) 0.51 977
2019-10-01 $149,950 (9.3%) $242,927 (22.9%) 0.48 984
2019-11-01 $145,000 (11.5%) $240,025 (19.8%) 0.47 932
2019-12-01 $148,500 (14.3%) $239,487 (20.8%) 0.50 840
2020-01-01 $149,000 (14.7%) $249,126 (23.5%) 0.50 738
2020-02-01 $144,900 (8.2%) $248,889 (19.0%) 0.47 695
2020-03-01 $154,900 (9.6%) $224,533 (1.8%) 0.48 659
2020-04-01 $152,450 (1.7%) $235,929 (3.1%) 0.47 631
2020-05-01 $169,700 (7.8%) $250,717 (8.8%) 0.51 617
2020-06-01 $169,900 (6.3%) $249,995 (7.6%) 0.50 568
2020-07-01 $169,900 (6.2%) $253,262 (9.1%) 0.49 565
2020-08-01 $169,900 (6.3%) $247,577 (10.1%) 0.49 543
2020-09-01 $164,500 (3.2%) $238,113 (8.6%) 0.47 540
2020-10-01 $164,900 (10.0%) $234,069 (-3.7%) 0.47 572
2020-11-01 $162,400 (12.0%) $222,116 (-7.5%) 0.47 550
2020-12-01 $159,900 (7.7%) $221,582 (-7.5%) 0.47 505
2021-01-01 $154,900 (4.0%) $226,223 (-9.2%) 0.46 431
2021-02-01 $162,000 (11.8%) $231,651 (-6.9%) 0.47 350
2021-03-01 $170,750 (10.2%) $243,317 (8.4%) 0.48 294
2021-04-01 $184,700 (21.2%) $260,882 (10.6%) 0.50 280
2021-05-01 $189,900 (11.9%) $257,142 (2.6%) 0.50 320
2021-06-01 $199,900 (17.7%) $283,965 (13.6%) 0.52 356
2021-07-01 $199,900 (17.7%) $274,299 (8.3%) 0.52 402
2021-08-01 $192,400 (13.2%) $263,098 (6.3%) 0.51 470
2021-09-01 $197,000 (19.8%) $269,178 (13.1%) 0.52 488
2021-10-01 $184,900 (12.1%) $269,036 (14.9%) 0.49 455
2021-11-01 $177,400 (9.2%) $255,219 (14.9%) 0.47 427
2021-12-01 $179,450 (12.2%) $255,417 (15.3%) 0.48 374
2022-01-01 $179,000 (15.6%) $251,093 (11.0%) 0.48 337
2022-02-01 $169,450 (4.6%) $249,006 (7.5%) 0.43 284
2022-03-01 $183,950 (7.7%) $267,986 (10.1%) 0.45 270
2022-04-01 $185,000 (0.2%) $261,412 (0.2%) 0.44 272
Utica's median listing price for 2022-04-01 was $185,000, a difference of $300 (0.2%) versus the prior year and $1,050 versus the prior month.

Utica's median listing price comes in at 44% of the national average.

Utica's average listing price for 2022-04-01 was $261,412, a difference of $530 (0.2%) versus the prior year and $-6,574 versus the prior month.

For the 2022-04-01 period, Utica had 272 MLS listings, a difference of 2 listings (1%) versus the prior month and -8 listings (-3%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Utica (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 104 days 1,592 sqft
2018-02-01 103 days 1,607 sqft
2018-03-01 99 days 1,620 sqft
2018-04-01 87 days 1,668 sqft
2018-05-01 59 days 1,678 sqft
2018-06-01 53 days 1,700 sqft
2018-07-01 58 days 1,691 sqft
2018-08-01 61 days 1,692 sqft
2018-09-01 69 days 1,680 sqft
2018-10-01 76 days 1,635 sqft
2018-11-01 88 days 1,651 sqft
2018-12-01 99 days 1,596 sqft
2019-01-01 104 days 1,578 sqft
2019-02-01 107 days 1,580 sqft
2019-03-01 102 days 1,615 sqft
2019-04-01 80 days 1,646 sqft
2019-05-01 62 days 1,656 sqft
2019-06-01 53 days 1,648 sqft
2019-07-01 55 days 1,640 sqft
2019-08-01 65 days 1,642 sqft
2019-09-01 71 days 1,658 sqft
2019-10-01 73 days 1,665 sqft
2019-11-01 75 days 1,655 sqft
2019-12-01 97 days 1,649 sqft
2020-01-01 109 days 1,648 sqft
2020-02-01 111 days 1,640 sqft
2020-03-01 112 days 1,677 sqft
2020-04-01 116 days 1,677 sqft
2020-05-01 115 days 1,700 sqft
2020-06-01 114 days 1,671 sqft
2020-07-01 78 days 1,672 sqft
2020-08-01 70 days 1,680 sqft
2020-09-01 70 days 1,703 sqft
2020-10-01 17 days 1,680 sqft
2020-11-01 49 days 1,671 sqft
2020-12-01 75 days 1,671 sqft
2021-01-01 103 days 1,640 sqft
2021-02-01 116 days 1,620 sqft
2021-03-01 107 days 1,654 sqft
2021-04-01 83 days 1,708 sqft
2021-05-01 52 days 1,680 sqft
2021-06-01 41 days 1,716 sqft
2021-07-01 49 days 1,688 sqft
2021-08-01 46 days 1,660 sqft
2021-09-01 50 days 1,658 sqft
2021-10-01 59 days 1,652 sqft
2021-11-01 64 days 1,652 sqft
2021-12-01 74 days 1,659 sqft
2022-01-01 81 days 1,655 sqft
2022-02-01 83 days 1,592 sqft
2022-03-01 79 days 1,582 sqft
2022-04-01 66 days 1,604 sqft
Utica's median listing age (time on market) for 2022-04-01 was 66 days. This is -20% shorter than the same period one year ago.

Utica's median square footage for active listings during the 2022-04-01 period was 1,604 sqft. One year prior, the average listing was 1,708 sqft.