New York USDA Loan Rates, Closing Costs & Stats

New York

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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.

    New York USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in New York averaged 6.6% for the week of 2025-04-04, compared to the national average (all USDA variants) of 6.324% for the same period.

    New York's average USDA mortgage closing costs are $4,527.

    The average rate for the prior week (2025-03-28) was 6.36% and one month ago for the week of 2025-02-28, the average rate was 6.71%.

    The average rate one year ago was 6.77%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.84%.

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

    New York 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 New York level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Premium Mortgage Corporation 36 6.39% $3,218
    EVERETT FINANCIAL, INC. 24 6.63% $5,936
    PLAZA HOME MORTGAGE, INC. 22 6.66% $7,326
    HOMESTEAD FUNDING CORP. 22 6.34% $3,404
    MOVEMENT MORTGAGE, LLC 13 6.83% $7,159
    UNITED WHOLESALE MORTGAGE, LLC 12 6.61% $6,709
    AMERICAN FINANCIAL NETWORK, INC. 11 6.64% $7,017
    NEWREZ LLC 9 6.24% $7,872
    GUARANTEED RATE, INC. 9 6.54% $9,075
    ABSOLUTE HOME MORTGAGE CORPORATION 8 6.86% $6,070
    Magnolia Bank 6 6.58% $7,786
    Genesee Regional Bank 6 6.56% $5,941
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.69% $7,478
    Community Bank 5 7.18% $3,991
    Flagstar Bank, FSB 4 6.98% $5,915
    PARAGON HOME LOANS INC. 4 7.06% $5,762
    AMERICU Credit Union 3 5.25% $6,504
    M&T Bank 3 6.08% $4,552
    HUNT MORTGAGE CORPORATION 3 6.50% $7,665
    SEFCU SERVICES, LLC 3 5.46% $5,935
    1ST PRIORITY MORTGAGE, INC. 2 6.38% $7,974
    Bank of England 2 6.94% $8,121
    CMG MORTGAGE, INC. 2 7.31% $8,971
    CROSSCOUNTRY MORTGAGE, LLC 2 6.00% $10,655
    Equity Prime Mortgage LLC 2 6.56% $4,093
    Evolve Bank & Trust 2 6.44% $6,428
    First Federal Bank 2 5.88% $5,510
    Northwest Bank 2 6.13% $6,661
    Ixonia Bank 1 6.88% $6,609
    Five Star Bank 1 6.63% $6,041
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $10,311
    RELIANCE FIRST CAPITAL, LLC 1 7.25% $2,630
    ROYAL UNITED MORTGAGE LLC 1 7.63% $6,837
    Barrington Bank & Trust Company, N.A. 1 6.75% $8,692
    Advisors Mortgage Group, L.L.C. 1 6.25% $6,295
    U.S. Bank 1 5.75% $1,905
    US MORTGAGE CORPORATION 1 6.63% $5,236

    The top New York USDA lender as defined by loan originations is Premium Mortgage Corporation, with 36 USDA loans originated. Their average total fees are $3,218, which is $2,717 lower than the next largest lender, EVERETT FINANCIAL, INC..

    The lowest fee New York USDA lenders (with over 10 loans originated) are Premium Mortgage Corporation ($3,218), HOMESTEAD FUNDING CORP. ($3,404), EVERETT FINANCIAL, INC. ($5,936), UNITED WHOLESALE MORTGAGE, LLC ($6,709) and AMERICAN FINANCIAL NETWORK, INC. ($7,017).

    The lowest rate New York USDA lenders (with over 10 loans originated) are HOMESTEAD FUNDING CORP. (6.34%), Premium Mortgage Corporation (6.39%), UNITED WHOLESALE MORTGAGE, LLC (6.61%), EVERETT FINANCIAL, INC. (6.63%) and AMERICAN FINANCIAL NETWORK, INC. (6.64%).