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 17 lenders originated 28 USDA loans during 2024. The total origination value was $5,120,000, with an average USDA loan value of $182,857.

Ames USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Ames averaged 0.31% for the week of 2025-07-04, compared to the national average (all USDA variants) of 0% for the same period.

Ames's average USDA mortgage closing costs are $4,291.

The average rate for the prior week (2025-06-27) was 6.54% and one month ago for the week of 2025-05-30, the average rate was 6.83%.

The average rate one year ago was 6.82%.

For refis of the same type during the week of 2025-07-04, the average rate was -0.17%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
GUILD MORTGAGE COMPANY 5 6.63% $5,592
IOWA BANKERS MORTGAGE CORPORATION 4 6.53% $3,678
AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.75% $5,359
FIRST COMMUNITY MORTGAGE, INC. 2 5.88% $9,441
CARDINAL FINANCIAL 1 5.75% $6,420
Flagstar Bank, FSB 1 7.25% $6,787
Fortress Bank 1 6.50% $5,172
GERSHMAN INVESTMENT CORP. 1 6.25% $4,461
HOMESERVICES LENDING, LLC 1 6.62% $4,550
HOMESIDE FINANCIAL, LLC 1 6.75% $4,560
Plains Commerce Bank 1 6.13% $4,394
STOCKTON MORTGAGE CORPORATION 1 5.88% $5,938
The Central Trust Bank 1 6.38% $6,352
TOWNE MORTGAGE COMPANY 1 5.75% $5,031
Bank Iowa 1 5.63% $5,137
Barrington Bank & Trust Company, N.A. 1 6.25% $8,399
BROKER SOLUTIONS, INC. 1 6.38% $5,298

The top Ames USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 5 USDA loans originated. Their average total fees are $5,592, which is $1,914 higher than the next largest lender, IOWA BANKERS MORTGAGE CORPORATION.

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

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