Austin USDA Loan Rates, Closing Costs & Stats

Austin, MN

  • 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.

    Austin's 2 lenders originated 2 USDA loans during 2023. The total origination value was $430,000, with an average USDA loan value of $215,000.

    Austin USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Austin averaged 6.6% for the week of 2024-11-08, compared to the national average (all USDA variants) of 6.477% for the same period.

    Austin's average USDA mortgage closing costs are $4,946.

    The average rate for the prior week (2024-11-01) was 6.38% and one month ago for the week of 2024-10-04, the average rate was 5.9%.

    The average rate one year ago was 7.64%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.48%.

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

    Austin 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 Austin level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.75% $12,004
    Home Federal Savings Bank 1 6.25% $4,174

    The top Austin USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 1 USDA loans originated. Their average total fees are $12,004, which is $7,830 higher than the next largest lender, Home Federal Savings Bank.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Austin (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 $113,375 (23.6%) $133,635 (12.5%) 0.00 78
    2018-02-01 $119,900 (33.9%) $131,742 (12.5%) 0.00 63
    2018-03-01 $119,900 (33.4%) $137,425 (10.5%) 0.00 73
    2018-04-01 $144,800 (52.4%) $171,809 (36.3%) 0.00 79
    2018-05-01 $149,225 (42.8%) $180,422 (38.2%) 0.00 88
    2018-06-01 $142,825 (35.8%) $174,242 (32.2%) 0.00 94
    2018-07-01 $149,925 (50.1%) $185,988 (42.3%) 0.00 96
    2018-08-01 $148,550 (30.9%) $180,334 (32.0%) 0.00 113
    2018-09-01 $146,900 (36.1%) $181,626 (30.4%) 0.00 124
    2018-10-01 $137,550 (21.2%) $184,994 (29.8%) 0.00 116
    2018-11-01 $137,425 (25.8%) $179,394 (30.7%) 0.00 125
    2018-12-01 $124,950 (14.6%) $164,176 (20.9%) 0.00 118
    2019-01-01 $115,000 (1.4%) $161,039 (20.5%) 0.00 99
    2019-02-01 $112,200 (-6.4%) $150,974 (14.6%) 0.00 80
    2019-03-01 $128,357 (7.1%) $164,511 (19.7%) 0.00 88
    2019-04-01 $147,207 (1.7%) $181,177 (5.5%) 0.00 99
    2019-05-01 $138,975 (-6.9%) $175,092 (-3.0%) 0.00 126
    2019-06-01 $149,000 (4.3%) $187,176 (7.4%) 0.00 119
    2019-07-01 $153,950 (2.7%) $184,668 (-0.7%) 0.00 134
    2019-08-01 $157,736 (6.2%) $186,608 (3.5%) 0.00 136
    2019-09-01 $160,416 (9.2%) $190,073 (4.7%) 0.00 134
    2019-10-01 $158,402 (15.2%) $191,038 (3.3%) 0.00 133
    2019-11-01 $177,000 (28.8%) $195,333 (8.9%) 0.00 129
    2019-12-01 $179,900 (44.0%) $200,126 (21.9%) 0.00 113
    2020-01-01 $184,925 (60.8%) $200,355 (24.4%) 0.00 96
    2020-02-01 $179,900 (60.3%) $194,646 (28.9%) 0.00 86
    2020-03-01 $161,225 (25.6%) $186,576 (13.4%) 0.00 97
    2020-04-01 $145,550 (-1.1%) $187,566 (3.5%) 0.00 94
    2020-05-01 $159,450 (14.7%) $197,763 (13.0%) 0.00 86
    2020-06-01 $175,825 (18.0%) $211,636 (13.1%) 0.00 85
    2020-07-01 $153,075 (-0.6%) $201,013 (8.9%) 0.00 87
    2020-08-01 $149,900 (-5.0%) $195,528 (4.8%) 0.00 88
    2020-09-01 $148,150 (-7.7%) $189,112 (-0.5%) 0.00 88
    2020-10-01 $145,000 (-8.5%) $176,463 (-7.6%) 0.00 81
    2020-11-01 $127,400 (-28.0%) $162,763 (-16.7%) 0.00 76
    2020-12-01 $126,450 (-29.7%) $165,290 (-17.4%) 0.00 68
    2021-01-01 $124,900 (-32.5%) $168,188 (-16.1%) 0.00 46
    2021-02-01 $132,400 (-26.4%) $182,883 (-6.0%) 0.00 40
    2021-03-01 $141,400 (-12.3%) $206,782 (10.8%) 0.00 40
    2021-04-01 $151,200 (3.9%) $216,047 (15.2%) 0.00 48
    2021-05-01 $144,950 (-9.1%) $209,522 (6.0%) 0.00 53
    2021-06-01 $139,450 (-20.7%) $204,087 (-3.6%) 0.00 48
    2021-07-01 $139,900 (-8.6%) $182,714 (-9.1%) 0.00 61
    2021-08-01 $139,900 (-6.7%) $196,160 (0.3%) 0.00 55
    2021-09-01 $142,425 (-3.9%) $191,142 (1.1%) 0.00 67
    2021-10-01 $144,000 (-0.7%) $180,458 (2.3%) 0.00 68
    2021-11-01 $148,450 (16.5%) $184,019 (13.1%) 0.00 64
    2021-12-01 $137,400 (8.7%) $168,462 (1.9%) 0.00 50
    2022-01-01 $139,900 (12.0%) $177,241 (5.4%) 0.00 36
    2022-02-01 $136,200 (2.9%) $161,088 (-11.9%) 0.00 37
    2022-03-01 $144,400 (2.1%) $172,334 (-16.7%) 0.00 27
    2022-04-01 $177,450 (17.4%) $205,421 (-4.9%) 0.00 24
    2022-05-01 $181,125 (25.0%) $218,828 (4.4%) 0.00 33
    2022-06-01 $191,600 (37.4%) $238,096 (16.7%) 0.00 47
    2022-07-01 $179,900 (28.6%) $208,043 (13.9%) 0.00 58
    2022-08-01 $202,700 (44.9%) $229,950 (17.2%) 0.00 60
    2022-09-01 $204,450 (43.6%) $236,654 (23.8%) 0.00 65
    2022-10-01 $200,000 (38.9%) $244,544 (35.5%) 0.00 71
    2022-11-01 $185,575 (25.0%) $235,747 (28.1%) 0.00 78
    2022-12-01 $179,900 (30.9%) $231,665 (37.5%) 0.00 62
    2023-01-01 $185,700 (32.7%) $238,108 (34.3%) 0.00 55
    2023-02-01 $186,500 (36.9%) $243,238 (51.0%) 0.00 49
    2023-03-01 $178,900 (23.9%) $238,103 (38.2%) 0.00 52
    2023-04-01 $191,450 (7.9%) $230,941 (12.4%) 0.00 50
    2023-05-01 $198,700 (9.7%) $248,478 (13.6%) 0.00 47
    2023-06-01 $234,975 (22.6%) $258,278 (8.5%) 0.00 64
    2023-07-01 $239,900 (33.4%) $267,643 (28.7%) 0.00 71
    2023-08-01 $236,150 (16.5%) $266,689 (16.0%) 0.00 79
    2023-09-01 $199,950 (-2.2%) $251,939 (6.5%) 0.00 87
    2023-10-01 $196,925 (-1.5%) $248,104 (1.5%) 0.00 78
    2023-11-01 $210,000 (13.2%) $255,764 (8.5%) 0.00 80
    2023-12-01 $209,900 (16.7%) $260,483 (12.4%) 0.00 69
    2024-01-01 $199,150 (7.2%) $266,414 (11.9%) 0.00 62
    2024-02-01 $218,450 (17.1%) $276,152 (13.5%) 0.00 51
    2024-03-01 $199,450 (11.5%) $273,958 (15.1%) 0.00 44
    2024-04-01 $219,900 (14.9%) $280,377 (21.4%) 0.00 35
    2024-05-01 $236,150 (18.9%) $292,484 (17.7%) 0.00 49
    2024-06-01 $239,450 (1.9%) $285,102 (10.4%) 0.00 66
    2024-07-01 $231,425 (-3.5%) $271,263 (1.4%) 0.00 74
    2024-08-01 $231,999 (-1.8%) $281,253 (5.5%) 0.00 87
    2024-09-01 $254,425 (27.2%) $306,641 (21.7%) 0.00 92
    2024-10-01 $222,175 (12.8%) $286,685 (15.6%) 0.00 91
    Austin's median listing price for 2024-10-01 was $222,175, a difference of $25,250 (12.8%) versus the prior year and $-32,250 versus the prior month.

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

    Austin's average listing price for 2024-10-01 was $286,685, a difference of $38,581 (15.6%) versus the prior year and $-19,956 versus the prior month.

    For the 2024-10-01 period, Austin had 91 MLS listings, a difference of -1 listings (-1%) versus the prior month and 13 listings (17%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Austin (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,112 sqft
    2018-02-01 0 days 2,154 sqft
    2018-03-01 0 days 2,184 sqft
    2018-04-01 0 days 2,350 sqft
    2018-05-01 0 days 2,342 sqft
    2018-06-01 0 days 2,186 sqft
    2018-07-01 0 days 2,338 sqft
    2018-08-01 0 days 2,294 sqft
    2018-09-01 0 days 2,320 sqft
    2018-10-01 0 days 2,277 sqft
    2018-11-01 0 days 2,326 sqft
    2018-12-01 0 days 2,131 sqft
    2019-01-01 0 days 1,428 sqft
    2019-02-01 0 days 1,380 sqft
    2019-03-01 0 days 1,509 sqft
    2019-04-01 0 days 1,618 sqft
    2019-05-01 0 days 1,645 sqft
    2019-06-01 0 days 1,682 sqft
    2019-07-01 0 days 1,813 sqft
    2019-08-01 0 days 1,861 sqft
    2019-09-01 0 days 1,892 sqft
    2019-10-01 0 days 1,908 sqft
    2019-11-01 0 days 1,911 sqft
    2019-12-01 0 days 2,005 sqft
    2020-01-01 0 days 2,085 sqft
    2020-02-01 0 days 1,945 sqft
    2020-03-01 0 days 1,759 sqft
    2020-04-01 0 days 1,712 sqft
    2020-05-01 0 days 1,780 sqft
    2020-06-01 0 days 1,885 sqft
    2020-07-01 0 days 1,820 sqft
    2020-08-01 0 days 1,835 sqft
    2020-09-01 0 days 1,876 sqft
    2020-10-01 0 days 1,593 sqft
    2020-11-01 0 days 1,579 sqft
    2020-12-01 0 days 1,527 sqft
    2021-01-01 0 days 1,487 sqft
    2021-02-01 0 days 1,521 sqft
    2021-03-01 0 days 1,465 sqft
    2021-04-01 0 days 1,590 sqft
    2021-05-01 0 days 1,509 sqft
    2021-06-01 0 days 1,509 sqft
    2021-07-01 0 days 1,495 sqft
    2021-08-01 0 days 1,501 sqft
    2021-09-01 0 days 1,515 sqft
    2021-10-01 0 days 1,527 sqft
    2021-11-01 0 days 1,599 sqft
    2021-12-01 0 days 1,456 sqft
    2022-01-01 0 days 1,444 sqft
    2022-02-01 0 days 1,850 sqft
    2022-03-01 0 days 1,878 sqft
    2022-04-01 0 days 2,135 sqft
    2022-05-01 0 days 1,509 sqft
    2022-06-01 0 days 1,899 sqft
    2022-07-01 0 days 1,713 sqft
    2022-08-01 0 days 1,768 sqft
    2022-09-01 0 days 1,866 sqft
    2022-10-01 0 days 1,884 sqft
    2022-11-01 0 days 1,870 sqft
    2022-12-01 0 days 1,712 sqft
    2023-01-01 0 days 1,811 sqft
    2023-02-01 0 days 1,825 sqft
    2023-03-01 0 days 1,727 sqft
    2023-04-01 0 days 1,724 sqft
    2023-05-01 0 days 1,889 sqft
    2023-06-01 0 days 1,908 sqft
    2023-07-01 0 days 1,941 sqft
    2023-08-01 0 days 1,895 sqft
    2023-09-01 0 days 1,837 sqft
    2023-10-01 0 days 1,857 sqft
    2023-11-01 0 days 1,921 sqft
    2023-12-01 0 days 1,921 sqft
    2024-01-01 0 days 1,953 sqft
    2024-02-01 0 days 1,965 sqft
    2024-03-01 0 days 1,833 sqft
    2024-04-01 0 days 1,672 sqft
    2024-05-01 0 days 1,589 sqft
    2024-06-01 0 days 1,773 sqft
    2024-07-01 0 days 1,822 sqft
    2024-08-01 0 days 1,768 sqft
    2024-09-01 0 days 1,948 sqft
    2024-10-01 0 days 1,712 sqft
    Austin's median listing age (time on market) for 2024-10-01 was 0 days.

    Austin's median square footage for active listings during the 2024-10-01 period was 1,712 sqft. One year prior, the average listing was 1,857 sqft.