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
-0.82%
for the week of 2023-06-02, compared to the national average (all USDA variants) of
0% for the same period.
California's average USDA mortgage closing costs are $7,400.
The average rate for the prior week (2023-05-26) was
6.02% and
one month ago for the week of 2023-04-28, the
average rate was 6%.
The average rate one year ago was 4.36%.
For refis of the same type during the week of 2023-06-02, the average rate
was -1.88%.
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 |
2022 Avg. 30yFix Rate |
2022 Avg. Closing Costs |
HOME POINT FINANCIAL CORPORATION
|
71
|
3.90%
|
$8,802
|
UNITED WHOLESALE MORTGAGE, LLC
|
52
|
4.58%
|
$10,256
|
AMERICAN PACIFIC MORTGAGE CORPORATION
|
37
|
4.47%
|
$8,351
|
KINGS MORTGAGE SERVICES, INC.
|
26
|
4.31%
|
$12,109
|
Commerce Home Mortgage, Inc.
|
24
|
3.90%
|
$10,977
|
FIRST NATIONS HOME FINANCE CORPORATION
|
23
|
4.45%
|
$7,581
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
22
|
4.73%
|
$14,304
|
CALIBER HOME LOANS, INC.
|
18
|
3.96%
|
$10,053
|
Sierra Pacific Mortgage Company, Inc.
|
18
|
4.05%
|
$9,093
|
SUMMIT FUNDING, INC.
|
15
|
4.58%
|
$9,662
|
GUILD MORTGAGE COMPANY
|
14
|
4.08%
|
$12,731
|
CARDINAL FINANCIAL
|
14
|
4.20%
|
$12,746
|
Century Mortgage Company DBA Century Lending Company
|
13
|
4.93%
|
$9,751
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
12
|
4.28%
|
$9,768
|
AXIA FINANCIAL, LLC
|
11
|
5.36%
|
$9,235
|
COUNTRY CLUB MORTGAGE, INC.
|
11
|
4.17%
|
$9,199
|
Paramount Residential Mortgage Group, Inc.
|
10
|
4.73%
|
$9,983
|
FINANCE OF AMERICA MORTGAGE LLC
|
10
|
3.87%
|
$10,346
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
10
|
4.01%
|
$9,909
|
MOVEMENT MORTGAGE, LLC
|
9
|
4.44%
|
$9,010
|
LOANDEPOT.COM, LLC
|
8
|
3.91%
|
$11,635
|
NEWREZ LLC
|
7
|
5.32%
|
$10,543
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
7
|
4.23%
|
$9,194
|
CROSSCOUNTRY MORTGAGE, LLC
|
7
|
4.33%
|
$8,344
|
Loan Simple, Inc.
|
6
|
3.25%
|
$8,659
|
MOUNTAIN WEST FINANCIAL, INC.
|
6
|
4.65%
|
$11,853
|
Flagstar Bank, FSB
|
6
|
3.47%
|
$10,368
|
EVERGREEN MONEYSOURCE MORTGAGE COMPANY
|
5
|
5.00%
|
$10,647
|
PLAZA HOME MORTGAGE, INC.
|
4
|
5.65%
|
$9,617
|
Wallick & Volk, Inc.
|
4
|
4.50%
|
$13,914
|
Neighborhood Loans, Inc.
|
4
|
3.00%
|
$13,352
|
Nations Lending Corporation
|
4
|
5.06%
|
$8,576
|
VERITAS FUNDING, LLC
|
4
|
4.37%
|
$9,440
|
SCENIC OAKS FUNDING, INC.
|
4
|
3.22%
|
$9,931
|
CMG MORTGAGE, INC.
|
4
|
4.28%
|
$11,713
|
PENNYMAC LOAN SERVICES, LLC
|
3
|
3.06%
|
$7,203
|
ACADEMY MORTGAGE CORPORATION
|
3
|
4.92%
|
$12,734
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
3
|
4.29%
|
$8,202
|
BROKER SOLUTIONS, INC.
|
3
|
4.87%
|
$8,097
|
Hometown Equity Mortgage, LLC
|
3
|
4.42%
|
$9,816
|
GUARANTEED RATE, INC.
|
3
|
4.46%
|
$11,773
|
INSPIRE HOME LOANS INC.
|
3
|
3.33%
|
$11,336
|
PLANET HOME LENDING, LLC
|
2
|
3.38%
|
$14,347
|
ALAMEDA MORTGAGE CORPORATION
|
2
|
4.25%
|
$7,232
|
AMCAP MORTGAGE, LTD.
|
2
|
5.13%
|
$15,639
|
DIGNIFIED HOME LOANS, LLC
|
2
|
5.88%
|
$11,132
|
EVERETT FINANCIAL, INC.
|
2
|
4.38%
|
$6,824
|
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION
|
2
|
4.56%
|
$3,371
|
KD CAPITAL MORTGAGE CORPORATION
|
2
|
3.87%
|
$6,492
|
MASON MCDUFFIE MORTGAGE CORPORATION
|
2
|
5.94%
|
$9,583
|
MEGASTAR FINANCIAL CORP.
|
2
|
5.38%
|
$8,728
|
MICHIGAN MUTUAL, INC.
|
2
|
5.13%
|
$12,360
|
NATIONS RELIABLE LENDING, LLC
|
2
|
4.38%
|
$12,651
|
OCMBC, INC.
|
2
|
5.88%
|
$8,507
|
PREMIER MORTGAGE RESOURCES, L.L.C.
|
2
|
3.99%
|
$8,273
|
ROUNDPOINT MORTGAGE SERVICING CORPORATION
|
2
|
4.75%
|
$8,173
|
SUN WEST MORTGAGE COMPANY, INC.
|
2
|
5.94%
|
$9,949
|
Umpqua Bank
|
2
|
6.00%
|
$10,675
|
Wells Fargo Bank
|
2
|
5.00%
|
$5,652
|
AMERICAN FINANCIAL RESOURCES, INC.
|
1
|
6.00%
|
$14,641
|
FBC MORTGAGE, LLC
|
1
|
5.00%
|
$13,123
|
Equity Prime Mortgage LLC
|
1
|
3.38%
|
$8,997
|
Northpointe Bank
|
1
|
4.75%
|
$7,855
|
NOVA FINANCIAL & INVESTMENT CORPORATION
|
1
|
4.75%
|
$9,017
|
Waterstone Mortgage Corporation
|
1
|
4.38%
|
$6,640
|
DRAPER AND KRAMER MORTGAGE CORP.
|
1
|
3.00%
|
$18,533
|
CORNERSTONE HOME LENDING, INC.
|
1
|
5.13%
|
$9,091
|
Cornerstone First Mortgage, Inc
|
1
|
3.00%
|
$13,085
|
Platinum Home Mortgage Corporation
|
1
|
6.75%
|
$7,257
|
CITY FIRST MORTGAGE SERVICES, L.L.C.
|
1
|
2.88%
|
$23,373
|
AMERISAVE MORTGAGE CORPORATION
|
1
|
3.50%
|
$7,850
|
CENTRAL COAST LENDING, INC.
|
1
|
4.50%
|
$20,034
|
Carrington Mortgage Services, LLC
|
1
|
6.63%
|
$15,691
|
RESIDENTIAL BANCORP.
|
1
|
5.75%
|
$8,302
|
RESIDENTIAL WHOLESALE MORTGAGE, INC.
|
1
|
3.38%
|
$12,665
|
Amerifirst Financial, Inc.
|
1
|
5.00%
|
$3,975
|
S1L, Inc.
|
1
|
5.00%
|
$9,395
|
CANOPY MORTGAGE, LLC
|
1
|
5.63%
|
$8,958
|
SECURITYNATIONAL MORTGAGE COMPANY
|
1
|
3.50%
|
$9,497
|
CALCON MUTUAL MORTGAGE LLC
|
1
|
4.50%
|
$19,884
|
LAND HOME FINANCIAL SERVICES, INC.
|
1
|
3.25%
|
$5,920
|
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C.
|
1
|
4.13%
|
$21,917
|
SOVEREIGN LENDING GROUP INCORPORATED
|
1
|
3.38%
|
$7,349
|
Bank of England
|
1
|
5.00%
|
$5,509
|
Summit Mortgage Corporation
|
1
|
2.75%
|
$7,514
|
MORIA DEVELOPMENT, INC.
|
1
|
3.63%
|
$6,088
|
GENEVA FINANCIAL, LLC
|
1
|
5.75%
|
$8,596
|
Florida Capital Bank
|
1
|
4.75%
|
$6,814
|
NATIONS DIRECT MORTGAGE, LLC
|
1
|
3.50%
|
$10,994
|
First Guaranty Mortgage Corporation
|
1
|
4.00%
|
$9,934
|
The top California USDA lender as defined by loan originations is HOME POINT FINANCIAL CORPORATION, with
71 USDA loans originated. Their average total fees are
$8,802, which is $1,453
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee California USDA lenders (with over 10 loans originated) are
FIRST NATIONS HOME FINANCE CORPORATION ($7,581), AMERICAN PACIFIC MORTGAGE CORPORATION ($8,351), HOME POINT FINANCIAL CORPORATION ($8,802), Sierra Pacific Mortgage Company, Inc. ($9,093) and COUNTRY CLUB MORTGAGE, INC. ($9,199).
The lowest rate California USDA lenders (with over 10 loans originated) are
FINANCE OF AMERICA MORTGAGE LLC (3.87%), Commerce Home Mortgage, Inc. (3.90%), HOME POINT FINANCIAL CORPORATION (3.90%), CALIBER HOME LOANS, INC. (3.96%) and HOMEBRIDGE FINANCIAL SERVICES, INC. (4.01%).