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 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 6.69% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Utica's average USDA mortgage closing costs are $4,547.

The average rate for the prior week (2022-11-25) was 6.43% and one month ago for the week of 2022-10-28, the average rate was 7.1%.

The average rate one year ago was 3.19%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.57%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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
M&T Bank 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 $124,450 (3.8%) $188,625 (6.5%) 0.46 901
2018-02-01 $125,975 (0.9%) $193,281 (5.6%) 0.46 879
2018-03-01 $129,500 (0.0%) $197,630 (5.9%) 0.45 849
2018-04-01 $139,250 (7.2%) $204,597 (7.3%) 0.47 844
2018-05-01 $137,450 (0.8%) $203,962 (6.3%) 0.46 863
2018-06-01 $148,450 (6.1%) $216,786 (13.0%) 0.50 974
2018-07-01 $149,900 (0.6%) $218,698 (12.1%) 0.50 1,061
2018-08-01 $145,450 (2.8%) $213,285 (4.8%) 0.49 1,104
2018-09-01 $144,700 (3.4%) $210,519 (6.4%) 0.49 1,124
2018-10-01 $135,000 (-1.2%) $197,666 (1.0%) 0.46 1,090
2018-11-01 $131,975 (-1.4%) $199,358 (2.0%) 0.45 1,007
2018-12-01 $129,900 (0.7%) $197,481 (3.6%) 0.45 941
2019-01-01 $129,900 (4.4%) $201,832 (7.0%) 0.45 857
2019-02-01 $130,950 (4.0%) $208,127 (7.7%) 0.44 768
2019-03-01 $139,671 (7.9%) $217,085 (9.8%) 0.46 745
2019-04-01 $149,900 (7.7%) $225,616 (10.3%) 0.48 735
2019-05-01 $154,900 (12.7%) $223,031 (9.4%) 0.48 755
2019-06-01 $154,900 (4.3%) $225,239 (3.9%) 0.48 826
2019-07-01 $159,900 (6.7%) $226,086 (3.4%) 0.50 893
2019-08-01 $158,536 (9.0%) $223,648 (4.9%) 0.50 915
2019-09-01 $156,491 (8.2%) $224,287 (6.5%) 0.50 922
2019-10-01 $152,400 (12.9%) $224,713 (13.7%) 0.49 914
2019-11-01 $148,000 (12.1%) $223,625 (12.2%) 0.49 864
2019-12-01 $148,050 (14.0%) $225,583 (14.2%) 0.49 772
2020-01-01 $146,900 (13.1%) $228,602 (13.3%) 0.49 679
2020-02-01 $149,000 (13.8%) $229,832 (10.4%) 0.49 637
2020-03-01 $156,950 (12.4%) $224,047 (3.2%) 0.49 599
2020-04-01 $158,450 (5.7%) $235,851 (4.5%) 0.50 575
2020-05-01 $169,900 (9.7%) $248,324 (11.3%) 0.52 575
2020-06-01 $178,000 (14.9%) $249,022 (10.6%) 0.52 547
2020-07-01 $169,900 (6.3%) $249,073 (10.2%) 0.49 540
2020-08-01 $169,900 (7.2%) $241,754 (8.1%) 0.49 522
2020-09-01 $172,400 (10.2%) $236,855 (5.6%) 0.49 522
2020-10-01 $169,900 (11.5%) $232,784 (3.6%) 0.49 547
2020-11-01 $169,700 (14.7%) $222,897 (-0.3%) 0.50 522
2020-12-01 $165,175 (11.6%) $221,999 (-1.6%) 0.49 483
2021-01-01 $159,900 (8.9%) $227,408 (-0.5%) 0.48 409
2021-02-01 $169,700 (13.9%) $232,319 (1.1%) 0.49 336
2021-03-01 $174,900 (11.4%) $251,245 (12.1%) 0.50 296
2021-04-01 $189,900 (19.9%) $262,386 (11.3%) 0.51 281
2021-05-01 $193,450 (13.9%) $263,039 (5.9%) 0.51 323
2021-06-01 $199,900 (12.3%) $282,850 (13.6%) 0.53 355
2021-07-01 $199,900 (17.7%) $277,759 (11.5%) 0.53 400
2021-08-01 $192,400 (13.2%) $267,458 (10.6%) 0.51 456
2021-09-01 $197,750 (14.7%) $271,413 (14.6%) 0.53 475
2021-10-01 $184,900 (8.8%) $264,954 (13.8%) 0.49 436
2021-11-01 $176,925 (4.3%) $250,521 (12.4%) 0.47 402
2021-12-01 $178,950 (8.3%) $253,253 (14.1%) 0.49 355
2022-01-01 $176,950 (10.7%) $245,485 (8.0%) 0.48 322
2022-02-01 $168,950 (-0.4%) $243,639 (4.9%) 0.44 272
2022-03-01 $179,675 (2.7%) $260,413 (3.7%) 0.45 258
2022-04-01 $179,900 (-5.3%) $261,451 (-0.4%) 0.43 265
2022-05-01 $182,400 (-5.7%) $279,095 (6.1%) 0.42 310
2022-06-01 $199,450 (-0.2%) $287,454 (1.6%) 0.44 372
2022-07-01 $199,000 (-0.5%) $277,158 (-0.2%) 0.45 443
2022-08-01 $189,900 (-1.3%) $262,573 (-1.8%) 0.44 462
2022-09-01 $189,000 (-4.4%) $252,013 (-7.2%) 0.44 489
2022-10-01 $189,000 (2.2%) $252,409 (-4.7%) 0.44 494
2022-11-01 $179,450 (1.4%) $250,210 (-0.1%) 0.43 454
Utica's median listing price for 2022-11-01 was $179,450, a difference of $2,525 (1.4%) versus the prior year and $-9,550 versus the prior month.

Utica's median listing price comes in at 43% of the national average.

Utica's average listing price for 2022-11-01 was $250,210, a difference of $-311 (-0.1%) versus the prior year and $-2,199 versus the prior month.

For the 2022-11-01 period, Utica had 454 MLS listings, a difference of -40 listings (-8%) versus the prior month and 52 listings (13%) 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
2018-01-01 114 days 1,535 sqft
2018-02-01 115 days 1,563 sqft
2018-03-01 116 days 1,568 sqft
2018-04-01 96 days 1,624 sqft
2018-05-01 62 days 1,648 sqft
2018-06-01 56 days 1,678 sqft
2018-07-01 61 days 1,667 sqft
2018-08-01 64 days 1,674 sqft
2018-09-01 74 days 1,660 sqft
2018-10-01 80 days 1,625 sqft
2018-11-01 90 days 1,633 sqft
2018-12-01 100 days 1,596 sqft
2019-01-01 103 days 1,580 sqft
2019-02-01 107 days 1,580 sqft
2019-03-01 98 days 1,627 sqft
2019-04-01 82 days 1,663 sqft
2019-05-01 62 days 1,669 sqft
2019-06-01 54 days 1,664 sqft
2019-07-01 55 days 1,659 sqft
2019-08-01 61 days 1,654 sqft
2019-09-01 68 days 1,664 sqft
2019-10-01 74 days 1,666 sqft
2019-11-01 79 days 1,650 sqft
2019-12-01 97 days 1,640 sqft
2020-01-01 116 days 1,645 sqft
2020-02-01 119 days 1,632 sqft
2020-03-01 122 days 1,667 sqft
2020-04-01 127 days 1,680 sqft
2020-05-01 127 days 1,700 sqft
2020-06-01 107 days 1,661 sqft
2020-07-01 72 days 1,650 sqft
2020-08-01 71 days 1,661 sqft
2020-09-01 68 days 1,700 sqft
2020-10-01 68 days 1,680 sqft
2020-11-01 70 days 1,676 sqft
2020-12-01 85 days 1,679 sqft
2021-01-01 102 days 1,640 sqft
2021-02-01 113 days 1,629 sqft
2021-03-01 102 days 1,638 sqft
2021-04-01 79 days 1,702 sqft
2021-05-01 48 days 1,660 sqft
2021-06-01 40 days 1,684 sqft
2021-07-01 45 days 1,688 sqft
2021-08-01 47 days 1,652 sqft
2021-09-01 49 days 1,660 sqft
2021-10-01 59 days 1,655 sqft
2021-11-01 67 days 1,650 sqft
2021-12-01 83 days 1,659 sqft
2022-01-01 88 days 1,622 sqft
2022-02-01 86 days 1,582 sqft
2022-03-01 75 days 1,582 sqft
2022-04-01 65 days 1,617 sqft
2022-05-01 48 days 1,586 sqft
2022-06-01 38 days 1,644 sqft
2022-07-01 43 days 1,630 sqft
2022-08-01 52 days 1,628 sqft
2022-09-01 57 days 1,598 sqft
2022-10-01 61 days 1,585 sqft
2022-11-01 66 days 1,591 sqft
Utica's median listing age (time on market) for 2022-11-01 was 66 days. This is -1% shorter than the same period one year ago.

Utica's median square footage for active listings during the 2022-11-01 period was 1,591 sqft. One year prior, the average listing was 1,650 sqft.