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
6.53%
for the week of 2024-11-08, compared to the national average (all USDA variants) of
6.477% for the same period.
Bloomington's average USDA mortgage closing costs are $3,801.
The average rate for the prior week (2024-11-01) was
6.6% and
one month ago for the week of 2024-10-04, the
average rate was 5.73%.
The average rate one year ago was 7.17%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.58%.
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%) | 0.72 | 206 |
| 2024-10-01 | $288,575 (-7.3%) | $323,052 (-13.3%) | 0.68 | 204 |
Bloomington's median listing price comes in at 68% of the national average.
Bloomington's average listing price for 2024-10-01 was $323,052, a difference of $-49,531 (-13.3%) versus the prior year and $-6,057 versus the prior month.
For the 2024-10-01 period, Bloomington had 204 MLS listings, a difference of -2 listings (-1%) versus the prior month and -14 listings (-6%) 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 | 41 days | 2,281 sqft |
| 2024-10-01 | 43 days | 2,223 sqft |
Bloomington's median square footage for active listings during the 2024-10-01 period was 2,223 sqft. One year prior, the average listing was 2,506 sqft.