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 6.7% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

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

The average rate for the prior week (2024-04-05) was 6.62% and one month ago for the week of 2024-03-08, the average rate was 6.58%.

The average rate one year ago was 6.19%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.93%.

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 .


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 $124,425 (3.8%) $188,284 (7.1%) 0.46 903
2018-02-01 $125,975 (0.9%) $193,025 (6.2%) 0.46 878
2018-03-01 $129,250 (-0.2%) $196,765 (5.9%) 0.45 849
2018-04-01 $139,250 (7.2%) $204,120 (7.6%) 0.47 846
2018-05-01 $138,450 (2.6%) $203,655 (6.6%) 0.46 865
2018-06-01 $149,000 (6.5%) $216,767 (13.6%) 0.50 979
2018-07-01 $149,900 (2.0%) $218,719 (12.6%) 0.50 1,064
2018-08-01 $146,475 (4.3%) $213,433 (5.3%) 0.49 1,106
2018-09-01 $144,900 (3.6%) $210,792 (6.9%) 0.49 1,129
2018-10-01 $135,375 (-0.8%) $197,863 (1.3%) 0.46 1,091
2018-11-01 $133,200 (0.0%) $199,757 (2.3%) 0.45 1,008
2018-12-01 $129,900 (0.7%) $197,690 (3.9%) 0.45 943
2019-01-01 $129,900 (4.4%) $201,842 (7.2%) 0.45 859
2019-02-01 $131,175 (4.1%) $208,257 (7.9%) 0.44 769
2019-03-01 $139,929 (8.3%) $217,116 (10.3%) 0.46 744
2019-04-01 $149,900 (7.7%) $223,671 (9.6%) 0.48 730
2019-05-01 $154,900 (11.9%) $222,900 (9.5%) 0.48 749
2019-06-01 $154,900 (4.0%) $225,761 (4.2%) 0.48 818
2019-07-01 $159,900 (6.7%) $226,446 (3.5%) 0.50 886
2019-08-01 $157,868 (7.8%) $223,864 (4.9%) 0.50 908
2019-09-01 $154,820 (6.9%) $224,557 (6.5%) 0.50 915
2019-10-01 $151,175 (11.7%) $225,019 (13.7%) 0.49 907
2019-11-01 $145,900 (9.5%) $222,199 (11.2%) 0.48 855
2019-12-01 $145,450 (12.0%) $221,943 (12.3%) 0.49 764
2020-01-01 $144,950 (11.6%) $227,115 (12.5%) 0.48 671
2020-02-01 $148,000 (12.8%) $229,566 (10.2%) 0.48 629
2020-03-01 $154,900 (10.7%) $223,725 (3.0%) 0.49 590
2020-04-01 $156,975 (4.7%) $235,692 (5.4%) 0.49 566
2020-05-01 $169,900 (9.7%) $248,395 (11.4%) 0.52 566
2020-06-01 $179,450 (15.9%) $249,119 (10.4%) 0.53 538
2020-07-01 $169,900 (6.3%) $249,554 (10.2%) 0.49 532
2020-08-01 $170,950 (8.3%) $242,580 (8.4%) 0.49 513
2020-09-01 $172,450 (11.4%) $237,585 (5.8%) 0.49 513
2020-10-01 $169,900 (12.4%) $233,247 (3.7%) 0.49 538
2020-11-01 $169,800 (16.4%) $223,346 (0.5%) 0.50 513
2020-12-01 $167,450 (15.1%) $222,431 (0.2%) 0.50 475
2021-01-01 $164,700 (13.6%) $228,334 (0.5%) 0.49 402
2021-02-01 $169,900 (14.8%) $233,409 (1.7%) 0.49 329
2021-03-01 $176,400 (13.9%) $252,421 (12.8%) 0.50 288
2021-04-01 $192,400 (22.6%) $264,519 (12.2%) 0.52 273
2021-05-01 $199,000 (17.1%) $264,599 (6.5%) 0.53 315
2021-06-01 $199,900 (11.4%) $284,558 (14.2%) 0.53 347
2021-07-01 $199,900 (17.7%) $279,271 (11.9%) 0.53 394
2021-08-01 $192,500 (12.6%) $268,763 (10.8%) 0.51 451
2021-09-01 $198,000 (14.8%) $272,729 (14.8%) 0.53 470
2021-10-01 $184,950 (8.9%) $266,709 (14.4%) 0.49 430
2021-11-01 $177,400 (4.5%) $252,234 (12.9%) 0.47 396
2021-12-01 $179,450 (7.2%) $254,238 (14.3%) 0.49 347
2022-01-01 $179,000 (8.7%) $246,613 (8.0%) 0.48 315
2022-02-01 $169,450 (-0.3%) $244,820 (4.9%) 0.44 265
2022-03-01 $179,900 (2.0%) $262,173 (3.9%) 0.45 251
2022-04-01 $185,000 (-3.9%) $263,132 (-0.5%) 0.44 258
2022-05-01 $184,900 (-7.1%) $282,365 (6.7%) 0.42 304
2022-06-01 $199,900 (0.0%) $290,195 (2.0%) 0.45 366
2022-07-01 $199,000 (-0.5%) $279,080 (-0.1%) 0.45 437
2022-08-01 $190,738 (-0.9%) $263,571 (-1.9%) 0.44 455
2022-09-01 $189,000 (-4.6%) $252,839 (-7.3%) 0.44 482
2022-10-01 $189,900 (2.7%) $253,235 (-5.1%) 0.45 487
2022-11-01 $179,450 (1.2%) $251,089 (-0.5%) 0.43 448
2022-12-01 $175,000 (-2.5%) $246,419 (-3.1%) 0.43 394
2023-01-01 $174,900 (-2.3%) $250,158 (1.4%) 0.43 337
2023-02-01 $176,975 (4.4%) $253,481 (3.5%) 0.43 293
2023-03-01 $188,450 (4.8%) $266,768 (1.8%) 0.44 279
2023-04-01 $197,500 (6.8%) $272,878 (3.7%) 0.46 269
2023-05-01 $206,175 (11.5%) $276,952 (-1.9%) 0.47 290
2023-06-01 $209,950 (5.0%) $287,098 (-1.1%) 0.47 297
2023-07-01 $228,250 (14.7%) $315,641 (13.1%) 0.52 335
2023-08-01 $229,125 (20.1%) $313,034 (18.8%) 0.53 385
2023-09-01 $229,000 (21.2%) $322,159 (27.4%) 0.53 416
2023-10-01 $224,725 (18.3%) $315,161 (24.5%) 0.53 410
2023-11-01 $229,450 (27.9%) $313,641 (24.9%) 0.55 416
2023-12-01 $229,000 (30.9%) $315,949 (28.2%) 0.56 392
2024-01-01 $234,500 (34.1%) $317,640 (27.0%) 0.57 356
2024-02-01 $238,250 (34.6%) $323,918 (27.8%) 0.57 328
2024-03-01 $239,900 (27.3%) $332,473 (24.6%) 0.56 322
Utica's median listing price for 2024-03-01 was $239,900, a difference of $51,450 (27.3%) versus the prior year and $1,650 versus the prior month.

Utica's median listing price comes in at 56% of the national average.

Utica's average listing price for 2024-03-01 was $332,473, a difference of $65,705 (24.6%) versus the prior year and $8,555 versus the prior month.

For the 2024-03-01 period, Utica had 322 MLS listings, a difference of -6 listings (-2%) versus the prior month and 43 listings (15%) 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
2018-01-01 106 days 1,522 sqft
2018-02-01 105 days 1,554 sqft
2018-03-01 103 days 1,568 sqft
2018-04-01 86 days 1,624 sqft
2018-05-01 53 days 1,648 sqft
2018-06-01 50 days 1,678 sqft
2018-07-01 56 days 1,667 sqft
2018-08-01 59 days 1,676 sqft
2018-09-01 67 days 1,662 sqft
2018-10-01 74 days 1,625 sqft
2018-11-01 83 days 1,633 sqft
2018-12-01 92 days 1,594 sqft
2019-01-01 94 days 1,580 sqft
2019-02-01 98 days 1,579 sqft
2019-03-01 88 days 1,625 sqft
2019-04-01 70 days 1,660 sqft
2019-05-01 55 days 1,668 sqft
2019-06-01 47 days 1,665 sqft
2019-07-01 51 days 1,660 sqft
2019-08-01 56 days 1,655 sqft
2019-09-01 63 days 1,664 sqft
2019-10-01 68 days 1,667 sqft
2019-11-01 71 days 1,650 sqft
2019-12-01 92 days 1,640 sqft
2020-01-01 107 days 1,645 sqft
2020-02-01 106 days 1,632 sqft
2020-03-01 106 days 1,668 sqft
2020-04-01 104 days 1,680 sqft
2020-05-01 113 days 1,700 sqft
2020-06-01 95 days 1,664 sqft
2020-07-01 53 days 1,658 sqft
2020-08-01 60 days 1,664 sqft
2020-09-01 57 days 1,703 sqft
2020-10-01 54 days 1,680 sqft
2020-11-01 63 days 1,677 sqft
2020-12-01 78 days 1,679 sqft
2021-01-01 93 days 1,641 sqft
2021-02-01 103 days 1,632 sqft
2021-03-01 85 days 1,642 sqft
2021-04-01 62 days 1,708 sqft
2021-05-01 38 days 1,680 sqft
2021-06-01 35 days 1,684 sqft
2021-07-01 42 days 1,688 sqft
2021-08-01 41 days 1,655 sqft
2021-09-01 45 days 1,663 sqft
2021-10-01 56 days 1,656 sqft
2021-11-01 62 days 1,651 sqft
2021-12-01 76 days 1,663 sqft
2022-01-01 81 days 1,623 sqft
2022-02-01 75 days 1,585 sqft
2022-03-01 63 days 1,584 sqft
2022-04-01 54 days 1,626 sqft
2022-05-01 42 days 1,603 sqft
2022-06-01 35 days 1,654 sqft
2022-07-01 43 days 1,632 sqft
2022-08-01 50 days 1,630 sqft
2022-09-01 53 days 1,600 sqft
2022-10-01 58 days 1,585 sqft
2022-11-01 62 days 1,591 sqft
2022-12-01 76 days 1,584 sqft
2023-01-01 82 days 1,584 sqft
2023-02-01 90 days 1,588 sqft
2023-03-01 79 days 1,601 sqft
2023-04-01 68 days 1,600 sqft
2023-05-01 49 days 1,593 sqft
2023-06-01 48 days 1,585 sqft
2023-07-01 44 days 1,644 sqft
2023-08-01 44 days 1,632 sqft
2023-09-01 52 days 1,628 sqft
2023-10-01 60 days 1,617 sqft
2023-11-01 60 days 1,668 sqft
2023-12-01 70 days 1,653 sqft
2024-01-01 76 days 1,656 sqft
2024-02-01 79 days 1,631 sqft
2024-03-01 68 days 1,628 sqft
Utica's median listing age (time on market) for 2024-03-01 was 68 days. This is -14% shorter than the same period one year ago.

Utica's median square footage for active listings during the 2024-03-01 period was 1,628 sqft. One year prior, the average listing was 1,601 sqft.