Vernal USDA Loan Rates, Closing Costs & Stats

Vernal, UT

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    • 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.

    Vernal's 5 lenders originated 10 USDA loans during 2023. The total origination value was $2,560,000, with an average USDA loan value of $256,000.

    Vernal USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Vernal averaged 6.96% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Vernal's average USDA mortgage closing costs are $6,350.

    The average rate for the prior week (2024-04-12) was 6.81% and one month ago for the week of 2024-03-15, the average rate was 6.79%.

    The average rate one year ago was 6.43%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

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

    Vernal 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 Vernal level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 5 6.05% $8,173
    NEWREZ LLC 2 5.94% $6,154
    Century Mortgage Company DBA Century Lending Company 1 7.13% $10,740
    FIRST COLONY MORTGAGE CORPORATION 1 5.25% $3,507
    Sierra Pacific Mortgage Company, Inc. 1 6.50% $6,984

    The top Vernal USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 5 USDA loans originated. Their average total fees are $8,173, which is $2,019 higher than the next largest lender, NEWREZ LLC.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Vernal (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 $169,900 (2.3%) $202,383 (0.6%) 0.00 259
    2018-02-01 $175,900 (5.9%) $208,633 (4.1%) 0.00 251
    2018-03-01 $187,250 (13.5%) $216,863 (8.8%) 0.00 233
    2018-04-01 $189,450 (11.8%) $218,976 (7.2%) 0.00 242
    2018-05-01 $209,900 (18.4%) $231,150 (8.6%) 0.00 247
    2018-06-01 $205,000 (11.7%) $229,188 (4.2%) 0.00 272
    2018-07-01 $202,450 (12.9%) $231,727 (9.9%) 0.00 284
    2018-08-01 $199,900 (13.6%) $227,815 (8.5%) 0.00 297
    2018-09-01 $189,000 (8.1%) $226,913 (9.0%) 0.00 283
    2018-10-01 $186,950 (7.2%) $226,621 (9.5%) 0.00 302
    2018-11-01 $190,600 (10.5%) $225,502 (10.4%) 0.00 294
    2018-12-01 $180,000 (3.3%) $221,052 (7.6%) 0.00 275
    2019-01-01 $188,250 (10.8%) $220,119 (8.8%) 0.00 262
    2019-02-01 $189,675 (7.8%) $220,993 (5.9%) 0.00 240
    2019-03-01 $200,000 (6.8%) $232,882 (7.4%) 0.00 225
    2019-04-01 $212,500 (12.2%) $245,200 (12.0%) 0.00 227
    2019-05-01 $219,950 (4.8%) $253,187 (9.5%) 0.00 256
    2019-06-01 $225,500 (10.0%) $255,144 (11.3%) 0.00 266
    2019-07-01 $224,950 (11.1%) $251,640 (8.6%) 0.00 270
    2019-08-01 $214,427 (7.3%) $243,374 (6.8%) 0.00 265
    2019-09-01 $206,143 (9.1%) $238,456 (5.1%) 0.00 259
    2019-10-01 $207,770 (11.1%) $239,911 (5.9%) 0.00 238
    2019-11-01 $215,000 (12.8%) $242,852 (7.7%) 0.00 214
    2019-12-01 $212,750 (18.2%) $237,873 (7.6%) 0.00 199
    2020-01-01 $210,000 (11.6%) $235,536 (7.0%) 0.00 196
    2020-02-01 $215,500 (13.6%) $242,775 (9.9%) 0.00 201
    2020-03-01 $218,700 (9.4%) $246,681 (5.9%) 0.00 171
    2020-04-01 $223,750 (5.3%) $252,450 (3.0%) 0.00 180
    2020-05-01 $209,000 (-5.0%) $238,545 (-5.8%) 0.00 201
    2020-06-01 $209,725 (-7.0%) $236,215 (-7.4%) 0.00 196
    2020-07-01 $207,500 (-7.8%) $239,248 (-4.9%) 0.00 181
    2020-08-01 $199,250 (-7.1%) $237,251 (-2.5%) 0.00 161
    2020-09-01 $191,175 (-7.3%) $227,818 (-4.5%) 0.00 162
    2020-10-01 $175,250 (-15.7%) $217,488 (-9.4%) 0.00 164
    2020-11-01 $168,625 (-21.6%) $228,548 (-5.9%) 0.00 129
    2020-12-01 $175,575 (-17.5%) $239,349 (0.6%) 0.00 119
    2021-01-01 $189,950 (-9.6%) $247,028 (4.9%) 0.00 110
    2021-02-01 $194,200 (-9.9%) $229,128 (-5.6%) 0.00 109
    2021-03-01 $197,500 (-9.7%) $251,774 (2.1%) 0.00 85
    2021-04-01 $199,450 (-10.9%) $281,720 (11.6%) 0.00 86
    2021-05-01 $229,950 (10.0%) $340,984 (42.9%) 0.00 74
    2021-06-01 $266,475 (27.1%) $375,162 (58.8%) 0.00 65
    2021-07-01 $279,900 (34.9%) $396,679 (65.8%) 0.00 70
    2021-08-01 $279,250 (40.2%) $398,593 (68.0%) 0.00 74
    2021-09-01 $265,950 (39.1%) $365,572 (60.5%) 0.00 87
    2021-10-01 $302,450 (72.6%) $374,247 (72.1%) 0.00 63
    2021-11-01 $331,000 (96.3%) $400,920 (75.4%) 0.00 43
    2021-12-01 $314,950 (79.4%) $379,531 (58.6%) 0.00 42
    2022-01-01 $304,950 (60.5%) $383,185 (55.1%) 0.00 25
    2022-02-01 $302,400 (55.7%) $415,793 (81.5%) 0.00 29
    2022-03-01 $322,750 (63.4%) $458,479 (82.1%) 0.00 28
    2022-04-01 $311,950 (56.4%) $488,474 (73.4%) 0.00 31
    2022-05-01 $312,500 (35.9%) $443,853 (30.2%) 0.00 51
    2022-06-01 $347,225 (30.3%) $458,489 (22.2%) 0.00 49
    2022-07-01 $359,950 (28.6%) $453,612 (14.4%) 0.00 68
    2022-08-01 $373,675 (33.8%) $474,897 (19.1%) 0.00 73
    2022-09-01 $406,950 (53.0%) $505,842 (38.4%) 0.00 62
    2022-10-01 $405,000 (33.9%) $516,325 (38.0%) 0.00 71
    2022-11-01 $391,700 (18.3%) $482,727 (20.4%) 0.00 75
    2022-12-01 $399,900 (27.0%) $473,278 (24.7%) 0.00 66
    2023-01-01 $379,125 (24.3%) $457,088 (19.3%) 0.00 52
    2023-02-01 $376,875 (24.6%) $467,226 (12.4%) 0.00 50
    2023-03-01 $381,975 (18.4%) $487,391 (6.3%) 0.00 38
    2023-04-01 $510,000 (63.5%) $537,470 (10.0%) 0.00 46
    2023-05-01 $504,500 (61.4%) $537,408 (21.1%) 0.00 49
    2023-06-01 $471,450 (35.8%) $548,921 (19.7%) 0.00 62
    2023-07-01 $440,000 (22.2%) $537,936 (18.6%) 0.00 64
    2023-08-01 $424,925 (13.7%) $531,146 (11.8%) 0.00 62
    2023-09-01 $405,900 (-0.3%) $538,567 (6.5%) 0.00 79
    2023-10-01 $399,900 (-1.3%) $509,017 (-1.4%) 0.00 93
    2023-11-01 $408,175 (4.2%) $505,157 (4.7%) 0.00 99
    2023-12-01 $395,000 (-1.2%) $497,746 (5.2%) 0.00 93
    2024-01-01 $391,225 (3.2%) $490,322 (7.3%) 0.00 77
    2024-02-01 $427,500 (13.4%) $524,584 (12.3%) 0.00 72
    2024-03-01 $484,000 (26.7%) $531,194 (9.0%) 0.00 69
    Vernal's median listing price for 2024-03-01 was $484,000, a difference of $102,025 (26.7%) versus the prior year and $56,500 versus the prior month.

    Vernal's median listing price comes in at 0% of the national average.

    Vernal's average listing price for 2024-03-01 was $531,194, a difference of $43,803 (9.0%) versus the prior year and $6,610 versus the prior month.

    For the 2024-03-01 period, Vernal had 69 MLS listings, a difference of -3 listings (-4%) versus the prior month and 31 listings (82%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Vernal (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,782 sqft
    2018-02-01 0 days 1,805 sqft
    2018-03-01 0 days 1,836 sqft
    2018-04-01 0 days 1,872 sqft
    2018-05-01 0 days 1,963 sqft
    2018-06-01 0 days 1,950 sqft
    2018-07-01 0 days 1,922 sqft
    2018-08-01 0 days 1,842 sqft
    2018-09-01 0 days 1,815 sqft
    2018-10-01 0 days 1,839 sqft
    2018-11-01 0 days 1,800 sqft
    2018-12-01 0 days 1,695 sqft
    2019-01-01 0 days 1,702 sqft
    2019-02-01 0 days 1,713 sqft
    2019-03-01 0 days 1,841 sqft
    2019-04-01 0 days 1,941 sqft
    2019-05-01 0 days 2,008 sqft
    2019-06-01 0 days 2,080 sqft
    2019-07-01 0 days 2,011 sqft
    2019-08-01 0 days 1,940 sqft
    2019-09-01 0 days 1,898 sqft
    2019-10-01 0 days 1,901 sqft
    2019-11-01 0 days 1,885 sqft
    2019-12-01 0 days 1,906 sqft
    2020-01-01 0 days 1,881 sqft
    2020-02-01 0 days 1,888 sqft
    2020-03-01 0 days 1,860 sqft
    2020-04-01 0 days 1,891 sqft
    2020-05-01 0 days 1,839 sqft
    2020-06-01 0 days 1,838 sqft
    2020-07-01 0 days 1,810 sqft
    2020-08-01 0 days 1,759 sqft
    2020-09-01 0 days 1,615 sqft
    2020-10-01 0 days 1,588 sqft
    2020-11-01 0 days 1,520 sqft
    2020-12-01 0 days 1,506 sqft
    2021-01-01 0 days 1,604 sqft
    2021-02-01 0 days 1,583 sqft
    2021-03-01 0 days 1,616 sqft
    2021-04-01 0 days 1,606 sqft
    2021-05-01 0 days 1,788 sqft
    2021-06-01 0 days 1,952 sqft
    2021-07-01 0 days 1,986 sqft
    2021-08-01 0 days 2,329 sqft
    2021-09-01 0 days 2,002 sqft
    2021-10-01 0 days 2,341 sqft
    2021-11-01 0 days 2,450 sqft
    2021-12-01 0 days 2,340 sqft
    2022-01-01 0 days 1,994 sqft
    2022-02-01 0 days 2,170 sqft
    2022-03-01 0 days 2,224 sqft
    2022-04-01 0 days 1,894 sqft
    2022-05-01 0 days 1,713 sqft
    2022-06-01 0 days 1,928 sqft
    2022-07-01 0 days 2,016 sqft
    2022-08-01 0 days 2,100 sqft
    2022-09-01 0 days 2,336 sqft
    2022-10-01 0 days 2,608 sqft
    2022-11-01 0 days 2,498 sqft
    2022-12-01 0 days 2,568 sqft
    2023-01-01 0 days 2,581 sqft
    2023-02-01 0 days 2,450 sqft
    2023-03-01 0 days 2,550 sqft
    2023-04-01 0 days 2,940 sqft
    2023-05-01 0 days 3,000 sqft
    2023-06-01 0 days 2,745 sqft
    2023-07-01 0 days 2,696 sqft
    2023-08-01 0 days 2,411 sqft
    2023-09-01 0 days 2,401 sqft
    2023-10-01 0 days 2,394 sqft
    2023-11-01 0 days 2,420 sqft
    2023-12-01 0 days 2,384 sqft
    2024-01-01 0 days 2,450 sqft
    2024-02-01 0 days 2,608 sqft
    2024-03-01 0 days 2,774 sqft
    Vernal's median listing age (time on market) for 2024-03-01 was 0 days.

    Vernal's median square footage for active listings during the 2024-03-01 period was 2,774 sqft. One year prior, the average listing was 2,550 sqft.