California USDA Loan Rates, Closing Costs & Stats

California

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.

California USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in California averaged 5.95% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

California's average USDA mortgage closing costs are $7,160.

The average rate for the prior week (2023-01-20) was 6.14% and one month ago for the week of 2022-12-23, the average rate was 6.27%.

The average rate one year ago was 3.92%.

For refis of the same type during the week of 2023-01-27, the average rate was 5.74%.

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

California 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 California level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
HOME POINT FINANCIAL CORPORATION 116 2.64% $7,394
AMERICAN PACIFIC MORTGAGE CORPORATION 88 2.83% $7,472
Sierra Pacific Mortgage Company, Inc. 72 2.61% $7,125
FIRST NATIONS HOME FINANCE CORPORATION 67 2.72% $6,611
PRIMELENDING, A PLAINSCAPITAL COMPANY 64 3.01% $11,208
CALIBER HOME LOANS, INC. 62 2.66% $7,141
Commerce Home Mortgage, Inc. 61 2.70% $7,458
KINGS MORTGAGE SERVICES, INC. 45 2.68% $7,506
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 37 2.94% $8,851
GUILD MORTGAGE COMPANY 34 2.75% $9,934
CROSSCOUNTRY MORTGAGE, LLC 33 2.83% $8,021
HOMEBRIDGE FINANCIAL SERVICES, INC. 33 2.84% $7,863
UNITED WHOLESALE MORTGAGE, LLC 32 2.73% $9,403
SUMMIT FUNDING, INC. 32 3.11% $8,139
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 31 2.94% $8,579
Flagstar Bank, FSB 30 2.73% $7,517
AMERICAN FINANCIAL NETWORK, INC. 29 2.90% $9,348
COUNTRY CLUB MORTGAGE, INC. 29 2.63% $7,088
Paramount Residential Mortgage Group, Inc. 27 2.76% $6,808
PENNYMAC LOAN SERVICES, LLC 27 2.88% $5,936
CELEBRITY HOME LOANS, LLC 22 2.88% $7,502
LOANDEPOT.COM, LLC 21 2.88% $10,045
PRIMARY RESIDENTIAL MORTGAGE, INC. 21 3.10% $11,062
FINANCE OF AMERICA MORTGAGE LLC 18 2.74% $8,016
AXIA FINANCIAL, LLC 18 2.96% $7,936
MOVEMENT MORTGAGE, LLC 17 2.94% $6,370
CMG MORTGAGE, INC. 17 2.67% $8,681
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 15 3.00% $8,689
PLAZA HOME MORTGAGE, INC. 13 2.83% $8,631
DIGNIFIED HOME LOANS, LLC 13 2.80% $6,684
KD CAPITAL MORTGAGE CORPORATION 12 2.49% $8,447
STEARNS LENDING, LLC 11 3.02% $8,191
MEGASTAR FINANCIAL CORP. 10 2.66% $7,391
MLD MORTGAGE INC. 10 2.86% $6,869
BROKER SOLUTIONS, INC. 9 2.94% $8,069
SCENIC OAKS FUNDING, INC. 9 2.60% $8,466
Carrington Mortgage Services, LLC 9 2.90% $6,327
Loan Simple, Inc. 8 2.38% $7,696
Century Mortgage Company DBA Century Lending Company 8 2.94% $7,574
GENEVA FINANCIAL, LLC 8 2.77% $9,144
Hometown Equity Mortgage, LLC 8 2.80% $7,571
INSPIRE HOME LOANS INC. 8 3.03% $6,774
MICHIGAN MUTUAL, INC. 8 2.98% $9,633
MOUNTAIN WEST FINANCIAL, INC. 8 2.92% $9,528
RANLIFE, INC. 7 3.00% $8,666
MASON MCDUFFIE MORTGAGE CORPORATION 7 3.14% $7,389
Neighborhood Loans, Inc. 7 2.79% $13,604
First Guaranty Mortgage Corporation 7 2.86% $8,718
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 7 2.95% $8,497
ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 2.88% $6,713
Wallick & Volk, Inc. 7 2.79% $11,483
CORNERSTONE HOME LENDING, INC. 7 3.09% $7,610
CANOPY MORTGAGE, LLC 6 2.35% $7,369
NEWREZ LLC 6 2.54% $7,931
Hometown Lenders, Inc. 6 2.65% $8,030
CHOICE LENDING CORP. 6 2.98% $9,542
ACADEMY MORTGAGE CORPORATION 6 3.17% $6,776
GUARANTEED RATE, INC. 6 2.83% $7,659
FREEDOM MORTGAGE CORPORATION 6 2.63% $7,765
Colten Mortgage, LLC 6 2.96% $3,983
MID AMERICA MORTGAGE, INC. 5 2.38% $5,818
S1L, Inc. 5 2.75% $7,447
RESIDENTIAL BANCORP. 5 3.05% $12,910
VERITAS FUNDING, LLC 5 2.45% $5,774
ENVOY MORTGAGE, LTD 5 3.15% $9,305
Wells Fargo Bank 5 2.70% $8,446
SUN WEST MORTGAGE COMPANY, INC. 5 2.45% $7,118
NATIONS RELIABLE LENDING, LLC 4 2.94% $9,215
Waterstone Mortgage Corporation 4 2.78% $6,976
Amerifirst Financial, Inc. 4 2.50% $6,038
DRAPER AND KRAMER MORTGAGE CORP. 4 2.44% $7,204
SECURITYNATIONAL MORTGAGE COMPANY 4 2.94% $6,651
U.S. Bank 4 3.06% $6,165
FBC MORTGAGE, LLC 3 2.92% $6,309
Golden Empire Mortgage, Inc. 3 3.33% $8,210
HOMESIDE FINANCIAL, LLC 3 2.67% $8,015
KBHS HOME LOANS, LLC 3 2.75% $11,752
LAKEVIEW LOAN SERVICING, LLC 3 2.88% $4,658
LAND HOME FINANCIAL SERVICES, INC. 3 2.54% $6,740
MORTGAGE MANAGEMENT CONSULTANTS, INC. 3 3.46% $6,663
NATIONS DIRECT MORTGAGE, LLC 3 2.75% $9,035
Nations Lending Corporation 3 3.67% $5,133
CALCON MUTUAL MORTGAGE LLC 3 3.13% $10,838
Umpqua Bank 3 2.67% $6,949
GUARANTEED RATE AFFINITY, LLC 2 2.75% $6,596
DHI MORTGAGE COMPANY, LTD. 2 2.50% $7,557
SNAPFI, INC. 2 2.50% $9,433
Franklin Loan Corporation 2 2.94% $6,566
Platinum Home Mortgage Corporation 2 2.81% $9,690
Equity Prime Mortgage LLC 2 2.94% $7,528
DIRECT MORTGAGE, CORP. 2 2.88% $6,775
PREMIER MORTGAGE RESOURCES, L.L.C. 2 3.06% $10,073
ALAMEDA MORTGAGE CORPORATION 2 3.44% $9,347
ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 2.94% $10,888
LENDUS, LLC 2 2.50% $7,842
Plains Commerce Bank 2 2.88% $5,426
CENTRAL COAST LENDING, INC. 2 2.88% $8,218
Bank of England 2 2.56% $9,842
Prosperity Home Mortgage, LLC 1 2.63% $10,074
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.00% $8,727
HOME FUNDING CORPORATION 1 3.00% $5,989
RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 2.88% $6,400
Mortgage Research Center, LLC 1 2.99% $3,087
Austin Capital Bank SSB 1 2.50% $5,294
GoPrime Mortgage, Inc. 1 2.50% $8,809
AMERICAN FINANCIAL RESOURCES, INC. 1 2.75% $12,155
Florida Capital Bank 1 2.50% $7,946
UNION HOME MORTGAGE CORP. 1 2.75% $10,201
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 2.63% $9,537
LA Financial Federal Credit Union 1 2.88% $10,789
EVERETT FINANCIAL, INC. 1 3.00% $7,294
DATA MORTGAGE, INC. 1 2.75% $8,487
COASTAL FUNDING SLC, INC. 1 3.63% $7,696
ITHINK FINANCIAL Credit Union 1 2.75% $16,020
Evolve Bank & Trust 1 2.75% $2,674
ISERVE RESIDENTIAL LENDING, LLC 1 2.63% $16,236
INTERNATIONAL CITY MORTGAGE, INC. 1 2.88% $7,546
COMMUNITY MORTGAGE FUNDING, LLC 1 2.99% $9,599
NOVA FINANCIAL & INVESTMENT CORPORATION 1 2.88% $7,459
Pacific Lending LLC 1 2.88% $7,257
PANORAMA MORTGAGE GROUP, LLC 1 2.25% $8,749
BNC National Bank 1 2.25% $6,534
PLANET HOME LENDING, LLC 1 2.25% $2,428
BAY EQUITY LLC 1 3.63% $6,668
Barrington Bank & Trust Company, N.A. 1 3.75% $7,964

The top California USDA lender as defined by loan originations is HOME POINT FINANCIAL CORPORATION, with 116 USDA loans originated. Their average total fees are $7,394, which is $78 lower than the next largest lender, AMERICAN PACIFIC MORTGAGE CORPORATION.

The lowest fee California USDA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC ($5,936), MOVEMENT MORTGAGE, LLC ($6,370), FIRST NATIONS HOME FINANCE CORPORATION ($6,611), DIGNIFIED HOME LOANS, LLC ($6,684) and Paramount Residential Mortgage Group, Inc. ($6,808).

The lowest rate California USDA lenders (with over 10 loans originated) are KD CAPITAL MORTGAGE CORPORATION (2.49%), Sierra Pacific Mortgage Company, Inc. (2.61%), COUNTRY CLUB MORTGAGE, INC. (2.63%), HOME POINT FINANCIAL CORPORATION (2.64%) and CALIBER HOME LOANS, INC. (2.66%).