Utica USDA Loan Rates, Closing Costs & Stats

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 8 lenders originated 14 USDA loans during 2023. The total origination value was $1,720,000, with an average USDA loan value of $122,857.

Utica USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Utica averaged 6.28% for the week of 2024-10-25, compared to the national average (all USDA variants) of 6.29% for the same period.

Utica's average USDA mortgage closing costs are $4,849.

The average rate for the prior week (2024-10-18) was 5.97% and one month ago for the week of 2024-09-20, the average rate was 5.88%.

The average rate one year ago was 7.5%.

For refis of the same type during the week of 2024-10-25, the average rate was 6.42%.

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

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
PLAZA HOME MORTGAGE, INC. 4 5.72% $7,623
HUNT MORTGAGE CORPORATION 2 7.06% $7,175
Bank of England 2 6.88% $8,918
MOVEMENT MORTGAGE, LLC 1 7.25% $7,258
PARAGON HOME LOANS INC. 1 7.13% $5,598
Premium Mortgage Corporation 1 7.25% $4,071
Community Bank 1 6.50% $4,129
HOMESTEAD FUNDING CORP. 1 6.25% $1,384

The top Utica USDA lender as defined by loan originations is PLAZA HOME MORTGAGE, INC., with 4 USDA loans originated. Their average total fees are $7,623, which is $448 higher than the next largest lender, HUNT MORTGAGE CORPORATION.

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

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