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%.
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 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 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.
