Bemidji USDA Loan Rates, Closing Costs & Stats

Bemidji, MN

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.

Bemidji's 5 lenders originated 11 USDA loans during 2022. The total origination value was $2,165,000, with an average USDA loan value of $196,818.

Bemidji USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Bemidji averaged 6.56% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

Bemidji's average USDA mortgage closing costs are $5,121.

The average rate for the prior week (2024-02-23) was 6.31% and one month ago for the week of 2024-01-26, the average rate was 6.27%.

The average rate one year ago was 6.23%.

For refis of the same type during the week of 2024-03-01, the average rate was 6.53%.

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

Bemidji 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 Bemidji level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Lend Smart Mortgage, LLC 5 4.73% $5,437
Flagstar Bank, FSB 3 3.13% $5,839
Heritage Bank 1 5.50% $8,585
LOANDEPOT.COM, LLC 1 3.38% $8,483
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 4.50% $6,053

The top Bemidji USDA lender as defined by loan originations is Lend Smart Mortgage, LLC, with 5 USDA loans originated. Their average total fees are $5,437, which is $402 lower than the next largest lender, Flagstar Bank, FSB.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Bemidji (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 $212,400 (0.1%) $236,309 (-3.8%) 0.00 190
2018-02-01 $219,900 (1.2%) $246,903 (0.3%) 0.00 187
2018-03-01 $239,800 (1.7%) $263,924 (3.5%) 0.00 184
2018-04-01 $245,350 (7.3%) $276,988 (10.6%) 0.00 197
2018-05-01 $243,475 (1.8%) $280,704 (10.1%) 0.00 216
2018-06-01 $239,850 (0.0%) $276,597 (9.0%) 0.00 254
2018-07-01 $234,875 (-2.1%) $270,111 (5.0%) 0.00 279
2018-08-01 $229,450 (-2.1%) $264,900 (3.9%) 0.00 267
2018-09-01 $207,450 (-8.0%) $257,247 (2.2%) 0.00 243
2018-10-01 $202,100 (-8.8%) $254,509 (5.3%) 0.00 228
2018-11-01 $191,825 (-12.0%) $248,025 (2.1%) 0.00 217
2018-12-01 $189,900 (-8.9%) $245,631 (4.0%) 0.00 186
2019-01-01 $195,125 (-8.1%) $250,213 (5.9%) 0.00 156
2019-02-01 $200,725 (-8.7%) $255,047 (3.3%) 0.00 156
2019-03-01 $210,786 (-12.1%) $261,299 (-1.0%) 0.00 164
2019-04-01 $224,011 (-8.7%) $269,841 (-2.6%) 0.00 174
2019-05-01 $224,900 (-7.6%) $261,757 (-6.8%) 0.00 195
2019-06-01 $224,963 (-6.2%) $264,964 (-4.2%) 0.00 206
2019-07-01 $225,200 (-4.1%) $268,553 (-0.6%) 0.00 223
2019-08-01 $224,936 (-2.0%) $262,154 (-1.0%) 0.00 216
2019-09-01 $224,916 (8.4%) $259,801 (1.0%) 0.00 207
2019-10-01 $224,900 (11.3%) $257,534 (1.2%) 0.00 198
2019-11-01 $225,900 (17.8%) $262,733 (5.9%) 0.00 177
2019-12-01 $225,900 (19.0%) $258,917 (5.4%) 0.00 156
2020-01-01 $225,900 (15.8%) $258,847 (3.5%) 0.00 130
2020-02-01 $225,900 (12.5%) $263,226 (3.2%) 0.00 132
2020-03-01 $225,900 (7.2%) $268,028 (2.6%) 0.00 150
2020-04-01 $229,675 (2.5%) $284,753 (5.5%) 0.00 153
2020-05-01 $229,900 (2.2%) $285,826 (9.2%) 0.00 154
2020-06-01 $242,825 (7.9%) $295,446 (11.5%) 0.00 146
2020-07-01 $245,900 (9.2%) $293,829 (9.4%) 0.00 133
2020-08-01 $239,400 (6.4%) $291,166 (11.1%) 0.00 125
2020-09-01 $239,400 (6.4%) $288,102 (10.9%) 0.00 119
2020-10-01 $215,000 (-4.4%) $266,740 (3.6%) 0.00 111
2020-11-01 $211,150 (-6.5%) $261,372 (-0.5%) 0.00 93
2020-12-01 $215,000 (-4.8%) $279,893 (8.1%) 0.00 82
2021-01-01 $228,800 (1.3%) $312,986 (20.9%) 0.00 63
2021-02-01 $253,200 (12.1%) $353,935 (34.5%) 0.00 47
2021-03-01 $278,650 (23.4%) $400,965 (49.6%) 0.00 45
2021-04-01 $274,900 (19.7%) $398,868 (40.1%) 0.00 57
2021-05-01 $266,375 (15.9%) $364,563 (27.6%) 0.00 90
2021-06-01 $264,163 (8.8%) $321,543 (8.8%) 0.00 119
2021-07-01 $269,900 (9.8%) $321,340 (9.4%) 0.00 118
2021-08-01 $288,225 (20.4%) $324,898 (11.6%) 0.00 127
2021-09-01 $282,175 (17.9%) $329,608 (14.4%) 0.00 122
2021-10-01 $274,477 (27.7%) $330,205 (23.8%) 0.00 112
2021-11-01 $267,375 (26.6%) $318,946 (22.0%) 0.00 92
2021-12-01 $285,000 (32.6%) $317,446 (13.4%) 0.00 73
2022-01-01 $279,900 (22.3%) $320,274 (2.3%) 0.00 66
2022-02-01 $282,975 (11.8%) $332,273 (-6.1%) 0.00 51
2022-03-01 $278,200 (-0.2%) $316,389 (-21.1%) 0.00 61
2022-04-01 $279,900 (1.8%) $318,044 (-20.3%) 0.00 66
2022-05-01 $297,175 (11.6%) $367,802 (0.9%) 0.00 80
2022-06-01 $299,450 (13.4%) $372,056 (15.7%) 0.00 87
2022-07-01 $284,450 (5.4%) $352,596 (9.7%) 0.00 104
2022-08-01 $300,700 (4.3%) $359,557 (10.7%) 0.00 115
2022-09-01 $309,000 (9.5%) $360,020 (9.2%) 0.00 115
2022-10-01 $314,100 (14.4%) $393,413 (19.1%) 0.00 103
2022-11-01 $317,000 (18.6%) $375,407 (17.7%) 0.00 94
2022-12-01 $330,000 (15.8%) $374,094 (17.8%) 0.00 81
2023-01-01 $342,450 (22.4%) $388,943 (21.4%) 0.00 63
2023-02-01 $349,900 (23.7%) $401,056 (20.7%) 0.00 62
2023-03-01 $353,450 (27.1%) $410,059 (29.6%) 0.00 60
2023-04-01 $340,000 (21.5%) $387,538 (21.9%) 0.00 67
2023-05-01 $344,003 (15.8%) $401,620 (9.2%) 0.00 84
2023-06-01 $349,900 (16.9%) $397,990 (7.0%) 0.00 103
2023-07-01 $348,000 (22.3%) $385,388 (9.3%) 0.00 116
2023-08-01 $342,050 (13.8%) $398,865 (10.9%) 0.00 132
2023-09-01 $346,500 (12.1%) $398,059 (10.6%) 0.00 133
2023-10-01 $346,550 (10.3%) $393,970 (0.1%) 0.00 124
2023-11-01 $338,725 (6.9%) $395,887 (5.5%) 0.00 115
2023-12-01 $340,500 (3.2%) $392,330 (4.9%) 0.00 97
2024-01-01 $347,250 (1.4%) $400,592 (3.0%) 0.00 89
Bemidji's median listing price for 2024-01-01 was $347,250, a difference of $4,800 (1.4%) versus the prior year and $6,750 versus the prior month.

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

Bemidji's average listing price for 2024-01-01 was $400,592, a difference of $11,649 (3.0%) versus the prior year and $8,262 versus the prior month.

For the 2024-01-01 period, Bemidji had 89 MLS listings, a difference of -8 listings (-8%) versus the prior month and 26 listings (41%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Bemidji (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,605 sqft
2018-02-01 0 days 1,626 sqft
2018-03-01 0 days 1,698 sqft
2018-04-01 0 days 1,910 sqft
2018-05-01 0 days 1,844 sqft
2018-06-01 0 days 1,872 sqft
2018-07-01 0 days 1,808 sqft
2018-08-01 0 days 1,796 sqft
2018-09-01 0 days 1,920 sqft
2018-10-01 0 days 1,850 sqft
2018-11-01 0 days 1,795 sqft
2018-12-01 0 days 1,785 sqft
2019-01-01 0 days 1,730 sqft
2019-02-01 0 days 1,767 sqft
2019-03-01 0 days 1,777 sqft
2019-04-01 0 days 1,776 sqft
2019-05-01 0 days 1,801 sqft
2019-06-01 0 days 1,901 sqft
2019-07-01 0 days 1,957 sqft
2019-08-01 0 days 1,986 sqft
2019-09-01 0 days 2,046 sqft
2019-10-01 0 days 2,071 sqft
2019-11-01 0 days 2,048 sqft
2019-12-01 0 days 1,961 sqft
2020-01-01 0 days 1,986 sqft
2020-02-01 0 days 1,980 sqft
2020-03-01 0 days 1,885 sqft
2020-04-01 0 days 1,976 sqft
2020-05-01 0 days 1,884 sqft
2020-06-01 0 days 1,950 sqft
2020-07-01 0 days 2,089 sqft
2020-08-01 0 days 2,181 sqft
2020-09-01 0 days 2,102 sqft
2020-10-01 0 days 2,016 sqft
2020-11-01 0 days 1,924 sqft
2020-12-01 0 days 2,103 sqft
2021-01-01 0 days 2,154 sqft
2021-02-01 0 days 2,061 sqft
2021-03-01 0 days 2,143 sqft
2021-04-01 0 days 2,333 sqft
2021-05-01 0 days 1,522 sqft
2021-06-01 0 days 1,749 sqft
2021-07-01 0 days 1,744 sqft
2021-08-01 0 days 1,822 sqft
2021-09-01 0 days 1,880 sqft
2021-10-01 0 days 1,772 sqft
2021-11-01 0 days 1,489 sqft
2021-12-01 0 days 1,568 sqft
2022-01-01 0 days 1,568 sqft
2022-02-01 0 days 1,293 sqft
2022-03-01 0 days 1,508 sqft
2022-04-01 0 days 1,591 sqft
2022-05-01 0 days 1,807 sqft
2022-06-01 0 days 1,770 sqft
2022-07-01 0 days 1,560 sqft
2022-08-01 0 days 1,681 sqft
2022-09-01 0 days 1,779 sqft
2022-10-01 0 days 1,904 sqft
2022-11-01 0 days 1,894 sqft
2022-12-01 0 days 1,872 sqft
2023-01-01 0 days 1,896 sqft
2023-02-01 0 days 1,856 sqft
2023-03-01 0 days 1,880 sqft
2023-04-01 0 days 1,745 sqft
2023-05-01 0 days 1,768 sqft
2023-06-01 0 days 1,834 sqft
2023-07-01 0 days 1,798 sqft
2023-08-01 0 days 1,950 sqft
2023-09-01 0 days 1,910 sqft
2023-10-01 0 days 1,940 sqft
2023-11-01 0 days 1,813 sqft
2023-12-01 0 days 1,840 sqft
2024-01-01 0 days 1,841 sqft
Bemidji's median listing age (time on market) for 2024-01-01 was 0 days.

Bemidji's median square footage for active listings during the 2024-01-01 period was 1,841 sqft. One year prior, the average listing was 1,896 sqft.