Ames USDA Loan Rates, Closing Costs & Stats

AMES, IA

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.

Ames's 13 lenders originated 30 USDA loans during 2023. The total origination value was $5,120,000, with an average USDA loan value of $170,667.

Ames USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Ames averaged -0.12% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

Ames's average USDA mortgage closing costs are $4,223.

The average rate for the prior week (2024-11-22) was 6.58% and one month ago for the week of 2024-10-25, the average rate was 6.08%.

The average rate one year ago was 6.78%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.2%.

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

Ames 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 Ames level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
GUILD MORTGAGE COMPANY 10 6.58% $5,210
Lincoln Savings Bank 4 6.19% $4,568
IOWA BANKERS MORTGAGE CORPORATION 2 6.69% $6,093
Ixonia Bank 2 6.25% $5,432
GUARANTEED RATE, INC. 2 7.50% $6,957
GERSHMAN INVESTMENT CORP. 1 7.00% $4,794
NEWREZ LLC 1 6.63% $4,962
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.63% $6,347
Wells Fargo Bank 1 7.13% $3,306
CARDINAL FINANCIAL 1 6.75% $4,942
Carrington Mortgage Services, LLC 1 7.50% $5,469
Chickasaw Community Bank 1 6.88% $5,566
Community Choice Credit Union 1 6.75% $4,110

The top Ames USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 10 USDA loans originated. Their average total fees are $5,210, which is $643 higher than the next largest lender, Lincoln Savings Bank.

The lowest fee Ames USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($5,210), .

The lowest rate Ames USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (6.58%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Ames (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 $224,350 (12.2%) $254,620 (6.0%) 0.00 296
2018-02-01 $243,120 (13.6%) $262,187 (7.8%) 0.00 295
2018-03-01 $254,225 (7.1%) $274,272 (4.9%) 0.00 303
2018-04-01 $263,450 (7.5%) $281,018 (2.1%) 0.00 310
2018-05-01 $259,690 (0.1%) $274,137 (-1.1%) 0.00 334
2018-06-01 $249,900 (-2.1%) $269,824 (-5.0%) 0.00 368
2018-07-01 $237,250 (-0.1%) $258,323 (-4.5%) 0.00 383
2018-08-01 $237,000 (1.5%) $256,987 (-4.2%) 0.00 410
2018-09-01 $229,000 (1.8%) $247,258 (-3.8%) 0.00 450
2018-10-01 $219,950 (0.0%) $240,885 (-4.1%) 0.00 453
2018-11-01 $219,563 (4.1%) $239,389 (-3.2%) 0.00 426
2018-12-01 $219,900 (4.2%) $240,269 (-2.3%) 0.00 403
2019-01-01 $215,000 (-4.2%) $237,497 (-6.7%) 0.00 374
2019-02-01 $220,700 (-9.2%) $242,098 (-7.7%) 0.00 360
2019-03-01 $235,436 (-7.4%) $254,134 (-7.3%) 0.00 373
2019-04-01 $249,525 (-5.3%) $262,754 (-6.5%) 0.00 401
2019-05-01 $241,975 (-6.8%) $264,405 (-3.6%) 0.00 422
2019-06-01 $242,350 (-3.0%) $269,343 (-0.2%) 0.00 470
2019-07-01 $241,000 (1.6%) $262,269 (1.5%) 0.00 478
2019-08-01 $235,882 (-0.5%) $259,184 (0.9%) 0.00 474
2019-09-01 $229,705 (0.3%) $252,840 (2.3%) 0.00 472
2019-10-01 $221,450 (0.7%) $247,882 (2.9%) 0.00 468
2019-11-01 $220,950 (0.6%) $245,620 (2.6%) 0.00 411
2019-12-01 $225,000 (2.3%) $247,047 (2.8%) 0.00 368
2020-01-01 $224,825 (4.6%) $250,498 (5.5%) 0.00 338
2020-02-01 $224,450 (1.7%) $249,608 (3.1%) 0.00 340
2020-03-01 $239,900 (1.9%) $260,472 (2.5%) 0.00 360
2020-04-01 $240,000 (-3.8%) $260,844 (-0.7%) 0.00 350
2020-05-01 $245,000 (1.3%) $275,451 (4.2%) 0.00 325
2020-06-01 $250,950 (3.6%) $279,656 (3.8%) 0.00 328
2020-07-01 $250,425 (3.9%) $280,416 (6.9%) 0.00 299
2020-08-01 $251,150 (6.5%) $285,738 (10.3%) 0.00 282
2020-09-01 $258,475 (12.5%) $286,570 (13.3%) 0.00 278
2020-10-01 $266,000 (20.1%) $289,491 (16.8%) 0.00 280
2020-11-01 $271,950 (23.1%) $280,507 (14.2%) 0.00 242
2020-12-01 $271,375 (20.6%) $281,312 (13.9%) 0.00 203
2021-01-01 $288,000 (28.1%) $298,762 (19.3%) 0.00 166
2021-02-01 $289,950 (29.2%) $299,035 (19.8%) 0.00 148
2021-03-01 $283,975 (18.4%) $315,687 (21.2%) 0.00 157
2021-04-01 $270,000 (12.5%) $315,357 (20.9%) 0.00 166
2021-05-01 $271,500 (10.8%) $314,427 (14.2%) 0.00 163
2021-06-01 $266,500 (6.2%) $308,772 (10.4%) 0.00 160
2021-07-01 $260,000 (3.8%) $291,146 (3.8%) 0.00 167
2021-08-01 $249,000 (-0.9%) $282,935 (-1.0%) 0.00 186
2021-09-01 $247,500 (-4.3%) $286,812 (0.1%) 0.00 214
2021-10-01 $224,950 (-15.4%) $271,840 (-6.1%) 0.00 220
2021-11-01 $228,750 (-15.9%) $278,022 (-0.9%) 0.00 200
2021-12-01 $244,225 (-10.0%) $274,920 (-2.3%) 0.00 177
2022-01-01 $252,000 (-12.5%) $278,471 (-6.8%) 0.00 145
2022-02-01 $299,725 (3.4%) $311,684 (4.2%) 0.00 123
2022-03-01 $296,238 (4.3%) $312,031 (-1.2%) 0.00 125
2022-04-01 $289,000 (7.0%) $317,692 (0.7%) 0.00 127
2022-05-01 $297,500 (9.6%) $332,079 (5.6%) 0.00 168
2022-06-01 $292,375 (9.7%) $340,066 (10.1%) 0.00 174
2022-07-01 $299,900 (15.4%) $334,449 (14.9%) 0.00 186
2022-08-01 $293,000 (17.7%) $323,186 (14.2%) 0.00 164
2022-09-01 $283,333 (14.5%) $314,563 (9.7%) 0.00 177
2022-10-01 $279,000 (24.0%) $356,102 (31.0%) 0.00 188
2022-11-01 $296,725 (29.7%) $363,534 (30.8%) 0.00 167
2022-12-01 $300,000 (22.8%) $364,329 (32.5%) 0.00 164
2023-01-01 $309,375 (22.8%) $375,521 (34.9%) 0.00 157
2023-02-01 $327,975 (9.4%) $404,734 (29.9%) 0.00 144
2023-03-01 $311,225 (5.1%) $388,200 (24.4%) 0.00 158
2023-04-01 $330,950 (14.5%) $401,199 (26.3%) 0.00 152
2023-05-01 $332,175 (11.7%) $386,736 (16.5%) 0.00 183
2023-06-01 $318,500 (8.9%) $354,694 (4.3%) 0.00 219
2023-07-01 $316,200 (5.4%) $354,796 (6.1%) 0.00 231
2023-08-01 $317,750 (8.5%) $361,405 (11.8%) 0.00 224
2023-09-01 $317,500 (12.1%) $364,689 (15.9%) 0.00 235
2023-10-01 $308,450 (10.6%) $356,640 (0.2%) 0.00 247
2023-11-01 $315,125 (6.2%) $368,281 (1.3%) 0.00 231
2023-12-01 $302,450 (0.8%) $354,991 (-2.6%) 0.00 208
2024-01-01 $318,250 (2.9%) $355,331 (-5.4%) 0.00 188
2024-02-01 $324,900 (-0.9%) $367,440 (-9.2%) 0.00 187
2024-03-01 $335,900 (7.9%) $376,107 (-3.1%) 0.00 189
2024-04-01 $336,225 (1.6%) $373,788 (-6.8%) 0.00 189
2024-05-01 $347,200 (4.5%) $388,309 (0.4%) 0.00 187
2024-06-01 $332,950 (4.5%) $391,327 (10.3%) 0.00 219
2024-07-01 $330,550 (4.5%) $380,799 (7.3%) 0.00 226
2024-08-01 $314,900 (-0.9%) $388,125 (7.4%) 0.00 234
2024-09-01 $317,450 (0.0%) $387,214 (6.2%) 0.00 237
2024-10-01 $304,975 (-1.1%) $379,437 (6.4%) 0.00 250
Ames's median listing price for 2024-10-01 was $304,975, a difference of $-3,475 (-1.1%) versus the prior year and $-12,475 versus the prior month.

Ames's median listing price comes in at 0% of the national average.

Ames's average listing price for 2024-10-01 was $379,437, a difference of $22,797 (6.4%) versus the prior year and $-7,777 versus the prior month.

For the 2024-10-01 period, Ames had 250 MLS listings, a difference of 13 listings (5%) versus the prior month and 3 listings (1%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Ames (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,564 sqft
2018-02-01 0 days 1,541 sqft
2018-03-01 0 days 1,555 sqft
2018-04-01 0 days 1,609 sqft
2018-05-01 0 days 1,580 sqft
2018-06-01 0 days 1,557 sqft
2018-07-01 0 days 1,529 sqft
2018-08-01 0 days 1,533 sqft
2018-09-01 0 days 1,522 sqft
2018-10-01 0 days 1,515 sqft
2018-11-01 0 days 1,499 sqft
2018-12-01 0 days 1,501 sqft
2019-01-01 0 days 1,487 sqft
2019-02-01 0 days 1,509 sqft
2019-03-01 0 days 1,530 sqft
2019-04-01 0 days 1,541 sqft
2019-05-01 0 days 1,582 sqft
2019-06-01 0 days 1,552 sqft
2019-07-01 0 days 1,539 sqft
2019-08-01 0 days 1,525 sqft
2019-09-01 0 days 1,511 sqft
2019-10-01 0 days 1,501 sqft
2019-11-01 0 days 1,503 sqft
2019-12-01 0 days 1,501 sqft
2020-01-01 0 days 1,474 sqft
2020-02-01 0 days 1,472 sqft
2020-03-01 0 days 1,520 sqft
2020-04-01 0 days 1,535 sqft
2020-05-01 0 days 1,560 sqft
2020-06-01 0 days 1,562 sqft
2020-07-01 0 days 1,577 sqft
2020-08-01 0 days 1,565 sqft
2020-09-01 0 days 1,544 sqft
2020-10-01 0 days 1,552 sqft
2020-11-01 0 days 1,509 sqft
2020-12-01 0 days 1,499 sqft
2021-01-01 0 days 1,502 sqft
2021-02-01 0 days 1,499 sqft
2021-03-01 0 days 1,516 sqft
2021-04-01 0 days 1,502 sqft
2021-05-01 0 days 1,486 sqft
2021-06-01 0 days 1,471 sqft
2021-07-01 0 days 1,471 sqft
2021-08-01 0 days 1,464 sqft
2021-09-01 0 days 1,457 sqft
2021-10-01 0 days 1,439 sqft
2021-11-01 0 days 1,457 sqft
2021-12-01 0 days 1,453 sqft
2022-01-01 0 days 1,471 sqft
2022-02-01 0 days 1,475 sqft
2022-03-01 0 days 1,498 sqft
2022-04-01 0 days 1,481 sqft
2022-05-01 0 days 1,487 sqft
2022-06-01 0 days 1,482 sqft
2022-07-01 0 days 1,481 sqft
2022-08-01 0 days 1,459 sqft
2022-09-01 0 days 1,457 sqft
2022-10-01 0 days 1,475 sqft
2022-11-01 0 days 1,472 sqft
2022-12-01 0 days 1,481 sqft
2023-01-01 0 days 1,468 sqft
2023-02-01 0 days 1,492 sqft
2023-03-01 0 days 1,484 sqft
2023-04-01 0 days 1,495 sqft
2023-05-01 0 days 1,500 sqft
2023-06-01 0 days 1,502 sqft
2023-07-01 0 days 1,507 sqft
2023-08-01 0 days 1,521 sqft
2023-09-01 0 days 1,533 sqft
2023-10-01 0 days 1,519 sqft
2023-11-01 0 days 1,555 sqft
2023-12-01 0 days 1,550 sqft
2024-01-01 0 days 1,545 sqft
2024-02-01 0 days 1,573 sqft
2024-03-01 0 days 1,600 sqft
2024-04-01 0 days 1,556 sqft
2024-05-01 0 days 1,605 sqft
2024-06-01 0 days 1,596 sqft
2024-07-01 0 days 1,592 sqft
2024-08-01 0 days 1,567 sqft
2024-09-01 0 days 1,582 sqft
2024-10-01 0 days 1,510 sqft
Ames's median listing age (time on market) for 2024-10-01 was 0 days.

Ames's median square footage for active listings during the 2024-10-01 period was 1,510 sqft. One year prior, the average listing was 1,519 sqft.