Virginia Beach USDA Loan Rates, Closing Costs & Stats

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC

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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.

    Virginia Beach's 22 lenders originated 44 USDA loans during 2023. The total origination value was $10,780,000, with an average USDA loan value of $245,000.

    Virginia Beach USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Virginia Beach averaged 6.48% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Virginia Beach's average USDA mortgage closing costs are $5,815.

    The average rate for the prior week (2025-02-07) was 6.44% and one month ago for the week of 2025-01-10, the average rate was 6.28%.

    The average rate one year ago was 6.57%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.41%.

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

    Virginia Beach 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 Virginia Beach level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MOVEMENT MORTGAGE, LLC 9 6.51% $9,673
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 5.96% $9,020
    Blue Ridge Bank 3 6.58% $7,027
    Tidewater Home Funding, LLC 2 5.88% $2,858
    Atlantic Coast Mortgage, LLC 2 7.06% $6,225
    Towne Bank 2 6.44% $7,946
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.75% $9,762
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.69% $9,098
    NVR Mortgage Finance, Inc. 2 6.00% $8,533
    Southern Bank and Trust Company 1 5.38% $11,823
    SOUTHERN TRUST MORTGAGE, LLC 1 6.50% $8,042
    TIDEWATER MORTGAGE SERVICES, INC. 1 6.75% $15,694
    Alcova Mortgage LLC 1 7.00% $1,358
    Towne Mortgage, LLC 1 6.00% $9,730
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.25% $10,956
    BROKER SOLUTIONS, INC. 1 5.99% $19,486
    C & F Mortgage Corporation 1 6.50% $8,559
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $12,896
    DHI MORTGAGE COMPANY, LTD. 1 4.63% $13,029
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 7.13% $8,647
    George Mason Mortgage, LLC 1 5.99% $10,193
    Prosperity Home Mortgage, LLC 1 6.13% $7,642

    The top Virginia Beach USDA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 9 USDA loans originated. Their average total fees are $9,673, which is $653 higher than the next largest lender, AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Virginia Beach (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 $260,000 (4.0%) $340,882 (4.2%) 0.96 9,205
    2018-02-01 $259,995 (4.0%) $339,275 (3.6%) 0.94 9,362
    2018-03-01 $269,000 (4.1%) $342,891 (3.0%) 0.94 9,664
    2018-04-01 $273,945 (3.4%) $349,135 (2.9%) 0.92 10,044
    2018-05-01 $278,200 (3.3%) $355,174 (3.1%) 0.92 10,269
    2018-06-01 $279,900 (4.1%) $355,931 (2.8%) 0.93 10,620
    2018-07-01 $279,315 (5.4%) $353,190 (3.1%) 0.93 10,771
    2018-08-01 $278,900 (5.3%) $351,477 (3.2%) 0.92 10,771
    2018-09-01 $277,445 (4.9%) $350,596 (3.0%) 0.92 10,537
    2018-10-01 $274,448 (3.6%) $348,100 (1.1%) 0.92 10,489
    2018-11-01 $270,450 (2.4%) $347,315 (1.5%) 0.92 10,125
    2018-12-01 $273,646 (5.3%) $348,736 (2.3%) 0.93 9,627
    2019-01-01 $274,950 (5.8%) $347,793 (2.0%) 0.95 9,131
    2019-02-01 $277,000 (6.5%) $345,141 (1.7%) 0.93 8,604
    2019-03-01 $284,571 (5.8%) $353,272 (3.0%) 0.92 8,950
    2019-04-01 $293,500 (7.1%) $369,962 (6.0%) 0.93 9,310
    2019-05-01 $296,450 (6.6%) $371,881 (4.7%) 0.92 9,808
    2019-06-01 $297,500 (6.3%) $373,247 (4.9%) 0.92 9,904
    2019-07-01 $296,950 (6.3%) $375,079 (6.2%) 0.92 9,739
    2019-08-01 $293,636 (5.3%) $375,060 (6.7%) 0.93 9,426
    2019-09-01 $291,591 (5.1%) $375,199 (7.0%) 0.93 9,042
    2019-10-01 $290,000 (5.7%) $374,812 (7.7%) 0.94 8,740
    2019-11-01 $294,900 (9.0%) $376,348 (8.4%) 0.95 8,234
    2019-12-01 $299,450 (9.4%) $381,557 (9.4%) 1.00 7,211
    2020-01-01 $298,480 (8.6%) $380,462 (9.4%) 0.99 6,719
    2020-02-01 $299,040 (8.0%) $383,580 (11.1%) 0.98 6,781
    2020-03-01 $300,000 (5.4%) $384,312 (8.8%) 0.94 6,922
    2020-04-01 $304,650 (3.8%) $386,587 (4.5%) 0.95 6,920
    2020-05-01 $313,000 (5.6%) $395,352 (6.3%) 0.95 6,668
    2020-06-01 $321,835 (8.2%) $407,646 (9.2%) 0.94 6,123
    2020-07-01 $324,900 (9.4%) $408,697 (9.0%) 0.94 5,817
    2020-08-01 $324,900 (10.7%) $414,769 (10.6%) 0.93 5,274
    2020-09-01 $320,643 (10.0%) $411,239 (9.6%) 0.92 5,033
    2020-10-01 $310,000 (6.9%) $409,313 (9.2%) 0.89 4,763
    2020-11-01 $305,000 (3.4%) $409,994 (8.9%) 0.89 4,599
    2020-12-01 $299,900 (0.2%) $403,333 (5.7%) 0.89 4,159
    2021-01-01 $299,900 (0.5%) $401,580 (5.6%) 0.90 3,714
    2021-02-01 $299,945 (0.3%) $405,023 (5.6%) 0.87 3,450
    2021-03-01 $300,029 (0.0%) $406,184 (5.7%) 0.85 3,282
    2021-04-01 $309,675 (1.7%) $404,962 (4.8%) 0.83 3,466
    2021-05-01 $309,990 (-1.0%) $412,839 (4.4%) 0.81 3,530
    2021-06-01 $309,498 (-3.8%) $412,026 (1.1%) 0.80 3,823
    2021-07-01 $305,000 (-6.1%) $409,707 (0.3%) 0.80 4,100
    2021-08-01 $299,950 (-7.7%) $409,406 (-1.3%) 0.80 4,289
    2021-09-01 $304,375 (-5.1%) $415,364 (1.0%) 0.80 4,221
    2021-10-01 $302,500 (-2.4%) $416,194 (1.7%) 0.80 3,980
    2021-11-01 $300,000 (-1.6%) $413,170 (0.8%) 0.80 3,627
    2021-12-01 $302,967 (1.0%) $412,761 (2.3%) 0.82 3,083
    2022-01-01 $313,980 (4.7%) $421,724 (5.0%) 0.84 2,521
    2022-02-01 $319,950 (6.7%) $423,194 (4.5%) 0.83 2,248
    2022-03-01 $327,475 (9.2%) $433,172 (6.6%) 0.82 2,211
    2022-04-01 $340,000 (9.8%) $446,815 (10.3%) 0.81 2,353
    2022-05-01 $350,000 (12.9%) $455,429 (10.3%) 0.80 2,828
    2022-06-01 $350,000 (13.1%) $461,450 (12.0%) 0.78 3,213
    2022-07-01 $350,000 (14.8%) $468,659 (14.4%) 0.79 3,621
    2022-08-01 $349,950 (16.7%) $467,607 (14.2%) 0.81 3,707
    2022-09-01 $349,950 (15.0%) $464,891 (11.9%) 0.82 3,602
    2022-10-01 $359,900 (19.0%) $472,325 (13.5%) 0.85 3,522
    2022-11-01 $359,950 (20.0%) $466,504 (12.9%) 0.86 3,634
    2022-12-01 $360,000 (18.8%) $465,540 (12.8%) 0.89 3,342
    2023-01-01 $369,000 (17.5%) $468,774 (11.2%) 0.91 2,978
    2023-02-01 $374,450 (17.0%) $471,884 (11.5%) 0.90 2,811
    2023-03-01 $374,950 (14.5%) $477,464 (10.2%) 0.88 2,716
    2023-04-01 $385,000 (13.2%) $492,570 (10.2%) 0.89 2,742
    2023-05-01 $387,450 (10.7%) $502,563 (10.4%) 0.88 2,745
    2023-06-01 $399,000 (14.0%) $520,453 (12.8%) 0.89 2,896
    2023-07-01 $395,000 (12.9%) $514,444 (9.8%) 0.90 3,027
    2023-08-01 $386,563 (10.5%) $501,945 (7.3%) 0.88 3,664
    2023-09-01 $380,000 (8.6%) $497,787 (7.1%) 0.88 3,521
    2023-10-01 $374,950 (4.2%) $480,119 (1.7%) 0.88 3,446
    2023-11-01 $379,450 (5.4%) $482,230 (3.4%) 0.90 3,586
    2023-12-01 $379,000 (5.3%) $481,355 (3.4%) 0.91 3,463
    2024-01-01 $378,995 (2.7%) $484,837 (3.4%) 0.92 3,117
    2024-02-01 $387,223 (3.4%) $494,149 (4.7%) 0.93 3,083
    2024-03-01 $395,000 (5.4%) $515,597 (8.0%) 0.92 3,130
    2024-04-01 $394,995 (2.6%) $513,348 (4.2%) 0.91 3,233
    2024-05-01 $393,750 (1.6%) $524,521 (4.4%) 0.89 3,535
    2024-06-01 $394,500 (-1.1%) $518,792 (-0.3%) 0.89 3,721
    2024-07-01 $397,225 (0.6%) $522,888 (1.6%) 0.90 4,033
    2024-08-01 $395,000 (2.2%) $517,458 (3.1%) 0.91 4,415
    2024-09-01 $394,400 (3.8%) $510,971 (2.7%) 0.92 4,462
    2024-10-01 $395,450 (5.5%) $516,935 (7.7%) 0.93 4,494
    2024-11-01 $390,000 (2.8%) $513,504 (6.5%) 0.94 4,593
    2024-12-01 $389,950 (2.9%) $518,111 (7.6%) 0.96 4,050
    2025-01-01 $389,450 (2.8%) $515,174 (6.3%) 0.00 3,809
    Virginia Beach's median listing price for 2025-01-01 was $389,450, a difference of $10,455 (2.8%) versus the prior year and $-500 versus the prior month.

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

    Virginia Beach's average listing price for 2025-01-01 was $515,174, a difference of $30,337 (6.3%) versus the prior year and $-2,937 versus the prior month.

    For the 2025-01-01 period, Virginia Beach had 3,809 MLS listings, a difference of -241 listings (-6%) versus the prior month and 692 listings (22%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Virginia Beach (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 78 days 1,949 sqft
    2018-02-01 67 days 1,941 sqft
    2018-03-01 51 days 1,970 sqft
    2018-04-01 47 days 1,997 sqft
    2018-05-01 46 days 2,000 sqft
    2018-06-01 47 days 2,000 sqft
    2018-07-01 52 days 2,000 sqft
    2018-08-01 57 days 1,999 sqft
    2018-09-01 59 days 2,000 sqft
    2018-10-01 61 days 1,981 sqft
    2018-11-01 62 days 1,980 sqft
    2018-12-01 70 days 1,976 sqft
    2019-01-01 72 days 1,977 sqft
    2019-02-01 63 days 1,987 sqft
    2019-03-01 48 days 2,008 sqft
    2019-04-01 43 days 2,036 sqft
    2019-05-01 43 days 2,036 sqft
    2019-06-01 45 days 2,036 sqft
    2019-07-01 52 days 2,020 sqft
    2019-08-01 54 days 2,005 sqft
    2019-09-01 56 days 2,002 sqft
    2019-10-01 57 days 2,000 sqft
    2019-11-01 59 days 2,003 sqft
    2019-12-01 66 days 2,026 sqft
    2020-01-01 70 days 2,005 sqft
    2020-02-01 50 days 2,005 sqft
    2020-03-01 44 days 2,030 sqft
    2020-04-01 48 days 2,037 sqft
    2020-05-01 53 days 2,054 sqft
    2020-06-01 48 days 2,075 sqft
    2020-07-01 42 days 2,057 sqft
    2020-08-01 38 days 2,054 sqft
    2020-09-01 38 days 2,014 sqft
    2020-10-01 39 days 1,975 sqft
    2020-11-01 39 days 1,936 sqft
    2020-12-01 45 days 1,899 sqft
    2021-01-01 46 days 1,876 sqft
    2021-02-01 35 days 1,841 sqft
    2021-03-01 29 days 1,857 sqft
    2021-04-01 26 days 1,871 sqft
    2021-05-01 23 days 1,868 sqft
    2021-06-01 25 days 1,857 sqft
    2021-07-01 26 days 1,824 sqft
    2021-08-01 28 days 1,800 sqft
    2021-09-01 31 days 1,800 sqft
    2021-10-01 31 days 1,798 sqft
    2021-11-01 32 days 1,768 sqft
    2021-12-01 37 days 1,779 sqft
    2022-01-01 40 days 1,800 sqft
    2022-02-01 26 days 1,800 sqft
    2022-03-01 22 days 1,822 sqft
    2022-04-01 19 days 1,854 sqft
    2022-05-01 21 days 1,885 sqft
    2022-06-01 23 days 1,900 sqft
    2022-07-01 26 days 1,903 sqft
    2022-08-01 33 days 1,921 sqft
    2022-09-01 37 days 1,911 sqft
    2022-10-01 37 days 1,944 sqft
    2022-11-01 39 days 1,947 sqft
    2022-12-01 49 days 1,946 sqft
    2023-01-01 52 days 1,951 sqft
    2023-02-01 38 days 1,955 sqft
    2023-03-01 38 days 1,969 sqft
    2023-04-01 30 days 2,000 sqft
    2023-05-01 29 days 2,016 sqft
    2023-06-01 29 days 2,031 sqft
    2023-07-01 33 days 2,010 sqft
    2023-08-01 31 days 1,960 sqft
    2023-09-01 36 days 1,972 sqft
    2023-10-01 39 days 1,927 sqft
    2023-11-01 38 days 1,941 sqft
    2023-12-01 45 days 1,938 sqft
    2024-01-01 50 days 1,922 sqft
    2024-02-01 36 days 1,942 sqft
    2024-03-01 34 days 1,962 sqft
    2024-04-01 32 days 1,936 sqft
    2024-05-01 30 days 1,924 sqft
    2024-06-01 31 days 1,900 sqft
    2024-07-01 35 days 1,908 sqft
    2024-08-01 36 days 1,908 sqft
    2024-09-01 41 days 1,899 sqft
    2024-10-01 43 days 1,894 sqft
    2024-11-01 44 days 1,868 sqft
    2024-12-01 47 days 1,861 sqft
    2025-01-01 0 days 1,843 sqft
    Virginia Beach's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Virginia Beach's median square footage for active listings during the 2025-01-01 period was 1,843 sqft. One year prior, the average listing was 1,922 sqft.