Akron USDA Loans

AKRON, OH

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.