Akron USDA Loans

AKRON, OH

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.

Akron's 21 lenders originated 37 USDA loans during 2021. The total origination value was $5,685,000, with an average USDA loan value of $153,649.

Akron USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Akron averaged 5.17% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.2% and one month ago for the week of 2022-04-08, the average rate was 4.87%.

The average rate one year ago was 3.18%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.31%.

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

Akron USDA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Akron level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
CROSSCOUNTRY MORTGAGE, LLC 5 2.93% $6,059
American Midwest Mortgage Corporation 3 2.88% $5,895
Waterstone Mortgage Corporation 3 3.21% $5,837
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 2.83% $3,775
Northpointe Bank 2 3.25% $5,609
LIBERTY HOME MORTGAGE CORPORATION 2 3.19% $7,500
SIGNATURE MORTGAGE CORPORATION 2 3.13% $5,203
T2 FINANCIAL LLC 2 3.38% $5,672
UNITED WHOLESALE MORTGAGE, LLC 2 2.94% $5,956
TOWNE MORTGAGE COMPANY 1 3.50% $6,031
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.63% $6,048
Paramount Residential Mortgage Group, Inc. 1 3.38% $6,240
RELIANCE FIRST CAPITAL, LLC 1 3.00% $6,401
RESIDENTIAL BANCORP. 1 3.13% $3,677
UNION HOME MORTGAGE CORP. 1 3.38% $6,408
AMERIFIRST FINANCIAL CORPORATION 1 3.75% $6,454
The Huntington National Bank 1 3.38% $7,097
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.50% $4,860
CALIBER HOME LOANS, INC. 1 3.65% $4,586
GUARANTEED RATE, INC. 1 2.75% $4,331
HOME POINT FINANCIAL CORPORATION 1 3.00% $4,161

The top Akron USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 5 USDA loans originated. Their average total fees are $6,059, which is $164 higher than the next largest lender, American Midwest Mortgage Corporation.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Akron (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 $134,950 (5.0%) $214,967 (9.3%) 0.50 1,891
2018-02-01 $134,950 (3.1%) $218,914 (7.8%) 0.49 1,868
2018-03-01 $149,900 (7.5%) $232,013 (9.6%) 0.52 1,810
2018-04-01 $154,950 (7.6%) $238,617 (9.8%) 0.52 1,780
2018-05-01 $166,450 (16.9%) $246,015 (7.4%) 0.56 1,826
2018-06-01 $174,900 (18.0%) $253,984 (9.9%) 0.58 1,938
2018-07-01 $175,950 (17.4%) $254,442 (9.6%) 0.59 1,975
2018-08-01 $169,450 (12.8%) $243,800 (6.6%) 0.57 2,115
2018-09-01 $162,000 (8.1%) $239,435 (4.9%) 0.54 2,156
2018-10-01 $159,950 (10.3%) $235,557 (6.8%) 0.53 2,119
2018-11-01 $156,250 (9.1%) $236,144 (8.8%) 0.52 2,025
2018-12-01 $154,900 (10.7%) $232,947 (8.4%) 0.53 1,802
2019-01-01 $150,900 (11.8%) $233,749 (8.7%) 0.52 1,635
2019-02-01 $156,700 (16.1%) $245,050 (11.9%) 0.53 1,499
2019-03-01 $164,186 (9.5%) $252,597 (8.9%) 0.54 1,485
2019-04-01 $169,450 (9.4%) $259,445 (8.7%) 0.53 1,487
2019-05-01 $174,950 (5.1%) $255,674 (3.9%) 0.54 1,548
2019-06-01 $179,900 (2.9%) $256,544 (1.0%) 0.55 1,683
2019-07-01 $177,500 (0.9%) $257,450 (1.2%) 0.55 1,777
2019-08-01 $170,657 (0.7%) $249,949 (2.5%) 0.54 1,798
2019-09-01 $165,707 (2.3%) $241,530 (0.9%) 0.53 1,839
2019-10-01 $166,450 (4.1%) $239,566 (1.7%) 0.53 1,965
2019-11-01 $157,500 (0.8%) $225,805 (-4.4%) 0.51 1,876
2019-12-01 $149,450 (-3.5%) $221,095 (-5.1%) 0.50 1,714
2020-01-01 $146,450 (-3.0%) $223,605 (-4.3%) 0.49 1,550
2020-02-01 $150,000 (-4.3%) $229,959 (-6.2%) 0.48 1,391
2020-03-01 $164,950 (0.5%) $246,111 (-2.6%) 0.52 1,281
2020-04-01 $169,900 (0.3%) $248,420 (-4.3%) 0.53 1,251
2020-05-01 $189,000 (8.0%) $266,499 (4.2%) 0.57 1,131
2020-06-01 $195,750 (8.8%) $277,287 (8.1%) 0.57 1,050
2020-07-01 $191,900 (8.1%) $272,828 (6.0%) 0.55 990
2020-08-01 $189,900 (11.3%) $280,396 (12.2%) 0.54 906
2020-09-01 $181,450 (9.5%) $281,663 (16.6%) 0.52 900
2020-10-01 $180,000 (8.1%) $278,187 (16.1%) 0.51 918
2020-11-01 $160,000 (1.6%) $257,636 (14.1%) 0.46 896
2020-12-01 $154,900 (3.7%) $247,358 (11.9%) 0.45 790
2021-01-01 $149,900 (2.4%) $232,324 (3.9%) 0.44 673
2021-02-01 $157,121 (4.8%) $259,042 (12.7%) 0.45 515
2021-03-01 $169,900 (3.0%) $261,939 (6.4%) 0.48 466
2021-04-01 $180,000 (5.9%) $270,610 (8.9%) 0.48 453
2021-05-01 $189,900 (0.5%) $276,760 (3.9%) 0.50 565
2021-06-01 $192,400 (-1.7%) $274,452 (-1.0%) 0.50 759
2021-07-01 $187,450 (-2.3%) $270,104 (-1.0%) 0.49 878
2021-08-01 $184,500 (-2.8%) $279,878 (-0.2%) 0.48 934
2021-09-01 $179,900 (-0.9%) $276,191 (-1.9%) 0.47 944
2021-10-01 $179,900 (-0.1%) $266,915 (-4.1%) 0.47 954
2021-11-01 $170,000 (6.3%) $266,814 (3.6%) 0.45 847
2021-12-01 $157,400 (1.6%) $256,640 (3.8%) 0.42 777
2022-01-01 $149,500 (-0.3%) $255,918 (10.2%) 0.40 641
2022-02-01 $155,000 (-1.4%) $273,031 (5.4%) 0.40 478
2022-03-01 $172,375 (1.5%) $289,092 (10.4%) 0.43 461
2022-04-01 $179,900 (-0.1%) $297,779 (10.0%) 0.42 540
Akron's median listing price for 2022-04-01 was $179,900, a difference of $-100 (-0.1%) versus the prior year and $7,525 versus the prior month.

Akron's median listing price comes in at 42% of the national average.

Akron's average listing price for 2022-04-01 was $297,779, a difference of $27,169 (10.0%) versus the prior year and $8,687 versus the prior month.

For the 2022-04-01 period, Akron had 540 MLS listings, a difference of 79 listings (17%) versus the prior month and 87 listings (19%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Akron (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 78 days 1,564 sqft
2018-02-01 70 days 1,572 sqft
2018-03-01 58 days 1,613 sqft
2018-04-01 51 days 1,632 sqft
2018-05-01 48 days 1,693 sqft
2018-06-01 46 days 1,732 sqft
2018-07-01 50 days 1,920 sqft
2018-08-01 49 days 1,851 sqft
2018-09-01 53 days 1,823 sqft
2018-10-01 58 days 1,816 sqft
2018-11-01 61 days 1,782 sqft
2018-12-01 68 days 1,752 sqft
2019-01-01 76 days 1,708 sqft
2019-02-01 74 days 1,728 sqft
2019-03-01 57 days 1,759 sqft
2019-04-01 45 days 1,795 sqft
2019-05-01 43 days 1,744 sqft
2019-06-01 43 days 1,762 sqft
2019-07-01 48 days 1,784 sqft
2019-08-01 49 days 1,785 sqft
2019-09-01 50 days 1,797 sqft
2019-10-01 53 days 1,763 sqft
2019-11-01 53 days 1,716 sqft
2019-12-01 61 days 1,650 sqft
2020-01-01 73 days 1,643 sqft
2020-02-01 66 days 1,668 sqft
2020-03-01 51 days 1,717 sqft
2020-04-01 56 days 1,734 sqft
2020-05-01 63 days 1,823 sqft
2020-06-01 44 days 1,861 sqft
2020-07-01 40 days 1,825 sqft
2020-08-01 44 days 1,800 sqft
2020-09-01 35 days 1,782 sqft
2020-10-01 34 days 1,763 sqft
2020-11-01 37 days 1,600 sqft
2020-12-01 45 days 1,574 sqft
2021-01-01 55 days 1,538 sqft
2021-02-01 50 days 1,572 sqft
2021-03-01 41 days 1,614 sqft
2021-04-01 37 days 1,672 sqft
2021-05-01 29 days 1,723 sqft
2021-06-01 27 days 1,725 sqft
2021-07-01 30 days 1,707 sqft
2021-08-01 32 days 1,676 sqft
2021-09-01 37 days 1,649 sqft
2021-10-01 41 days 1,634 sqft
2021-11-01 43 days 1,628 sqft
2021-12-01 46 days 1,574 sqft
2022-01-01 52 days 1,538 sqft
2022-02-01 50 days 1,548 sqft
2022-03-01 40 days 1,573 sqft
2022-04-01 31 days 1,584 sqft
Akron's median listing age (time on market) for 2022-04-01 was 31 days. This is -16% shorter than the same period one year ago.

Akron's median square footage for active listings during the 2022-04-01 period was 1,584 sqft. One year prior, the average listing was 1,672 sqft.