Bloomington USDA Loan Rates, Closing Costs & Stats

BLOOMINGTON, IL

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.

Bloomington's 7 lenders originated 10 USDA loans during 2023. The total origination value was $1,370,000, with an average USDA loan value of $137,000.

Bloomington USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Bloomington averaged 5.82% for the week of 2024-10-04, compared to the national average (all USDA variants) of 5.97% for the same period.

Bloomington's average USDA mortgage closing costs are $3,801.

The average rate for the prior week (2024-09-27) was 6.05% and one month ago for the week of 2024-08-30, the average rate was 6.09%.

The average rate one year ago was 7.34%.

For refis of the same type during the week of 2024-10-04, the average rate was 6.07%.

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

Bloomington 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 Bloomington level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FIRST STATE MORTGAGE SERVICES, LLC 3 6.63% $3,971
FLAT BRANCH MORTGAGE, INC. 2 7.19% $6,175
Busey Bank 1 5.50% $5,462
UNION HOME MORTGAGE CORP. 1 6.13% $4,034
UNITED WHOLESALE MORTGAGE, LLC 1 5.38% $3,214
Flanagan State Bank 1 6.63% $3,851
Community Mortgage Banc Corporation 1 6.13% $3,353

The top Bloomington USDA lender as defined by loan originations is FIRST STATE MORTGAGE SERVICES, LLC, with 3 USDA loans originated. Their average total fees are $3,971, which is $2,204 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Bloomington (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 $171,950 (16.9%) $202,938 (3.7%) 0.64 716
2018-02-01 $179,950 (19.2%) $213,189 (4.2%) 0.65 774
2018-03-01 $184,900 (12.1%) $218,065 (2.4%) 0.65 855
2018-04-01 $189,000 (8.0%) $221,125 (2.1%) 0.64 934
2018-05-01 $188,050 (7.5%) $216,847 (1.9%) 0.63 963
2018-06-01 $186,000 (6.7%) $215,032 (1.6%) 0.62 975
2018-07-01 $182,450 (5.5%) $212,242 (1.0%) 0.61 997
2018-08-01 $179,900 (8.6%) $209,457 (2.0%) 0.60 945
2018-09-01 $174,900 (3.5%) $209,431 (1.3%) 0.59 900
2018-10-01 $168,000 (-1.2%) $205,573 (-1.4%) 0.57 847
2018-11-01 $162,400 (-3.4%) $204,031 (0.2%) 0.55 790
2018-12-01 $157,250 (-4.7%) $193,801 (-3.9%) 0.54 680
2019-01-01 $159,900 (-7.0%) $193,588 (-4.6%) 0.55 609
2019-02-01 $163,700 (-9.0%) $197,782 (-7.2%) 0.55 553
2019-03-01 $169,900 (-8.1%) $205,736 (-5.7%) 0.56 598
2019-04-01 $169,900 (-10.1%) $204,835 (-7.4%) 0.54 657
2019-05-01 $165,750 (-11.9%) $202,511 (-6.6%) 0.52 714
2019-06-01 $167,250 (-10.1%) $203,448 (-5.4%) 0.52 736
2019-07-01 $169,900 (-6.9%) $207,415 (-2.3%) 0.53 747
2019-08-01 $167,173 (-7.1%) $206,131 (-1.6%) 0.53 718
2019-09-01 $163,082 (-6.8%) $202,413 (-3.4%) 0.52 680
2019-10-01 $159,900 (-4.8%) $200,411 (-2.5%) 0.52 654
2019-11-01 $158,250 (-2.6%) $200,081 (-1.9%) 0.52 558
2019-12-01 $149,950 (-4.6%) $197,303 (1.8%) 0.50 495
2020-01-01 $149,950 (-6.2%) $199,928 (3.3%) 0.50 455
2020-02-01 $159,250 (-2.7%) $199,223 (0.7%) 0.52 444
2020-03-01 $166,625 (-1.9%) $212,557 (3.3%) 0.52 468
2020-04-01 $173,675 (2.2%) $218,319 (6.6%) 0.54 430
2020-05-01 $165,000 (-0.5%) $218,905 (8.1%) 0.50 401
2020-06-01 $168,242 (0.6%) $217,022 (6.7%) 0.50 372
2020-07-01 $170,600 (0.4%) $225,341 (8.6%) 0.49 349
2020-08-01 $159,900 (-4.4%) $217,269 (5.4%) 0.46 335
2020-09-01 $150,975 (-7.4%) $206,863 (2.2%) 0.43 320
2020-10-01 $139,900 (-12.5%) $198,948 (-0.7%) 0.40 288
2020-11-01 $142,750 (-9.8%) $198,205 (-0.9%) 0.42 273
2020-12-01 $137,450 (-8.3%) $191,519 (-2.9%) 0.41 234
2021-01-01 $135,000 (-10.0%) $186,380 (-6.8%) 0.40 199
2021-02-01 $141,000 (-11.5%) $204,275 (2.5%) 0.41 170
2021-03-01 $147,500 (-11.5%) $219,262 (3.2%) 0.42 152
2021-04-01 $164,900 (-5.1%) $238,622 (9.3%) 0.45 148
2021-05-01 $179,900 (9.0%) $253,087 (15.6%) 0.48 149
2021-06-01 $177,425 (5.5%) $257,306 (18.6%) 0.47 157
2021-07-01 $175,000 (2.6%) $256,729 (13.9%) 0.46 168
2021-08-01 $164,825 (3.1%) $238,062 (9.6%) 0.44 186
2021-09-01 $164,975 (9.3%) $237,430 (14.8%) 0.44 179
2021-10-01 $149,750 (7.0%) $208,996 (5.1%) 0.40 167
2021-11-01 $150,250 (5.3%) $222,718 (12.4%) 0.40 151
2021-12-01 $147,450 (7.3%) $234,114 (22.2%) 0.40 130
2022-01-01 $148,500 (10.0%) $237,873 (27.6%) 0.40 101
2022-02-01 $152,425 (8.1%) $239,794 (17.4%) 0.40 87
2022-03-01 $202,450 (37.3%) $276,655 (26.2%) 0.51 77
2022-04-01 $220,000 (33.4%) $310,561 (30.2%) 0.52 89
2022-05-01 $239,950 (33.4%) $314,133 (24.1%) 0.55 114
2022-06-01 $247,450 (39.5%) $308,392 (19.9%) 0.55 143
2022-07-01 $250,000 (42.9%) $307,374 (19.7%) 0.56 145
2022-08-01 $211,075 (28.1%) $294,031 (23.5%) 0.49 149
2022-09-01 $256,125 (55.3%) $309,728 (30.5%) 0.60 155
2022-10-01 $280,000 (87.0%) $321,025 (53.6%) 0.66 180
2022-11-01 $301,825 (100.9%) $329,794 (48.1%) 0.73 177
2022-12-01 $304,900 (106.8%) $331,855 (41.8%) 0.75 163
2023-01-01 $328,150 (121.0%) $352,816 (48.3%) 0.81 145
2023-02-01 $354,225 (132.4%) $367,769 (53.4%) 0.85 138
2023-03-01 $337,450 (66.7%) $348,626 (26.0%) 0.80 142
2023-04-01 $339,900 (54.5%) $351,329 (13.1%) 0.79 172
2023-05-01 $325,000 (35.4%) $351,689 (12.0%) 0.74 186
2023-06-01 $331,225 (33.9%) $350,158 (13.5%) 0.74 186
2023-07-01 $329,900 (32.0%) $366,500 (19.2%) 0.75 198
2023-08-01 $347,400 (64.6%) $373,280 (27.0%) 0.80 208
2023-09-01 $334,750 (30.7%) $392,663 (26.8%) 0.78 207
2023-10-01 $311,225 (11.2%) $372,583 (16.1%) 0.73 218
2023-11-01 $310,000 (2.7%) $364,776 (10.6%) 0.74 218
2023-12-01 $324,900 (6.6%) $387,688 (16.8%) 0.79 169
2024-01-01 $352,450 (7.4%) $408,884 (15.9%) 0.86 142
2024-02-01 $344,900 (-2.6%) $397,749 (8.2%) 0.83 147
2024-03-01 $355,000 (5.2%) $400,338 (14.8%) 0.84 158
2024-04-01 $353,675 (4.1%) $399,147 (13.6%) 0.82 164
2024-05-01 $380,000 (16.9%) $408,144 (16.1%) 0.86 174
2024-06-01 $369,900 (11.7%) $402,196 (14.9%) 0.83 205
2024-07-01 $353,675 (7.2%) $386,734 (5.5%) 0.81 214
2024-08-01 $332,000 (-4.4%) $354,233 (-5.1%) 0.77 197
2024-09-01 $305,950 (-8.6%) $329,109 (-16.2%) 0.00 206
Bloomington's median listing price for 2024-09-01 was $305,950, a difference of $-28,800 (-8.6%) versus the prior year and $-26,050 versus the prior month.

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

Bloomington's average listing price for 2024-09-01 was $329,109, a difference of $-63,554 (-16.2%) versus the prior year and $-25,124 versus the prior month.

For the 2024-09-01 period, Bloomington had 206 MLS listings, a difference of 9 listings (5%) versus the prior month and -1 listings (0%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Bloomington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 93 days 2,695 sqft
2018-02-01 82 days 2,827 sqft
2018-03-01 53 days 2,862 sqft
2018-04-01 56 days 2,878 sqft
2018-05-01 59 days 2,871 sqft
2018-06-01 58 days 2,856 sqft
2018-07-01 62 days 2,811 sqft
2018-08-01 66 days 2,799 sqft
2018-09-01 71 days 2,784 sqft
2018-10-01 72 days 2,757 sqft
2018-11-01 77 days 2,685 sqft
2018-12-01 86 days 2,606 sqft
2019-01-01 92 days 2,555 sqft
2019-02-01 85 days 1,682 sqft
2019-03-01 62 days 1,747 sqft
2019-04-01 50 days 1,748 sqft
2019-05-01 53 days 1,767 sqft
2019-06-01 58 days 1,826 sqft
2019-07-01 59 days 1,880 sqft
2019-08-01 62 days 1,872 sqft
2019-09-01 67 days 1,853 sqft
2019-10-01 71 days 1,840 sqft
2019-11-01 80 days 1,872 sqft
2019-12-01 87 days 1,827 sqft
2020-01-01 90 days 1,826 sqft
2020-02-01 76 days 1,838 sqft
2020-03-01 52 days 1,956 sqft
2020-04-01 59 days 1,950 sqft
2020-05-01 65 days 2,020 sqft
2020-06-01 59 days 2,140 sqft
2020-07-01 46 days 2,108 sqft
2020-08-01 45 days 2,038 sqft
2020-09-01 49 days 1,922 sqft
2020-10-01 50 days 1,904 sqft
2020-11-01 57 days 1,908 sqft
2020-12-01 63 days 1,764 sqft
2021-01-01 60 days 1,768 sqft
2021-02-01 57 days 1,876 sqft
2021-03-01 46 days 1,960 sqft
2021-04-01 34 days 1,963 sqft
2021-05-01 33 days 2,129 sqft
2021-06-01 41 days 2,121 sqft
2021-07-01 39 days 2,151 sqft
2021-08-01 38 days 2,087 sqft
2021-09-01 45 days 2,105 sqft
2021-10-01 50 days 1,872 sqft
2021-11-01 49 days 1,903 sqft
2021-12-01 48 days 1,878 sqft
2022-01-01 57 days 1,780 sqft
2022-02-01 50 days 1,729 sqft
2022-03-01 42 days 2,091 sqft
2022-04-01 31 days 2,199 sqft
2022-05-01 31 days 2,170 sqft
2022-06-01 35 days 2,290 sqft
2022-07-01 37 days 2,313 sqft
2022-08-01 39 days 2,128 sqft
2022-09-01 38 days 2,227 sqft
2022-10-01 38 days 2,336 sqft
2022-11-01 47 days 2,303 sqft
2022-12-01 54 days 2,314 sqft
2023-01-01 63 days 2,327 sqft
2023-02-01 61 days 2,274 sqft
2023-03-01 49 days 2,186 sqft
2023-04-01 42 days 2,208 sqft
2023-05-01 42 days 2,211 sqft
2023-06-01 52 days 2,247 sqft
2023-07-01 48 days 2,408 sqft
2023-08-01 49 days 2,505 sqft
2023-09-01 50 days 2,568 sqft
2023-10-01 51 days 2,506 sqft
2023-11-01 48 days 2,509 sqft
2023-12-01 65 days 2,512 sqft
2024-01-01 81 days 2,605 sqft
2024-02-01 64 days 2,512 sqft
2024-03-01 44 days 2,678 sqft
2024-04-01 43 days 2,570 sqft
2024-05-01 28 days 2,512 sqft
2024-06-01 32 days 2,582 sqft
2024-07-01 45 days 2,520 sqft
2024-08-01 45 days 2,362 sqft
2024-09-01 0 days 2,281 sqft
Bloomington's median listing age (time on market) for 2024-09-01 was 0 days. This is -100% shorter than the same period one year ago.

Bloomington's median square footage for active listings during the 2024-09-01 period was 2,281 sqft. One year prior, the average listing was 2,568 sqft.