Ames USDA Loan Rates, Closing Costs & Stats

AMES, IA

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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.

    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 6.94% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.49% and one month ago for the week of 2024-03-15, the average rate was 6.38%.

    The average rate one year ago was 6.42%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

    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
    Ames's median listing price for 2024-03-01 was $335,900, a difference of $24,675 (7.9%) versus the prior year and $11,000 versus the prior month.

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

    Ames's average listing price for 2024-03-01 was $376,107, a difference of $-12,093 (-3.1%) versus the prior year and $8,667 versus the prior month.

    For the 2024-03-01 period, Ames had 189 MLS listings, a difference of 2 listings (1%) versus the prior month and 31 listings (20%) 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
    Ames's median listing age (time on market) for 2024-03-01 was 0 days.

    Ames's median square footage for active listings during the 2024-03-01 period was 1,600 sqft. One year prior, the average listing was 1,484 sqft.