Bloomington USDA Loans

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 15 lenders originated 52 USDA loans during 2021. The total origination value was $6,510,000, with an average USDA loan value of $125,192.

Bloomington USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Bloomington averaged 5.11% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.54% and one month ago for the week of 2022-04-08, the average rate was 4.71%.

The average rate one year ago was 3.32%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.21%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bloomington level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FIRST STATE MORTGAGE SERVICES, LLC 21 2.81% $4,011
Flagstar Bank, FSB 6 2.81% $3,585
FLAT BRANCH MORTGAGE, INC. 5 3.08% $3,679
CITIZENS EQUITY FIRST 3 3.25% $2,772
AMERICAN PACIFIC MORTGAGE CORPORATION 3 2.79% $4,220
LEADERONE FINANCIAL CORPORATION 2 2.94% $4,764
Bank of Pontiac 2 3.50% $5,456
PLAZA HOME MORTGAGE, INC. 1 2.88% $2,601
PNC Bank 1 2.75% $2,708
Bankers' Bank 1 3.13% $2,519
Carrington Mortgage Services, LLC 1 3.00% $4,184
Flanagan State Bank 1 3.25% $4,640
INB 1 2.63% $3,207
Marine Bank 1 2.38% $3,615
PENNYMAC LOAN SERVICES, LLC 1 2.88% $5,042

The top Bloomington USDA lender as defined by loan originations is FIRST STATE MORTGAGE SERVICES, LLC, with 21 USDA loans originated. Their average total fees are $4,011, which is $426 higher than the next largest lender, Flagstar Bank, FSB.

The lowest fee Bloomington USDA lenders (with over 10 loans originated) are FIRST STATE MORTGAGE SERVICES, LLC ($4,011), .

The lowest rate Bloomington USDA lenders (with over 10 loans originated) are FIRST STATE MORTGAGE SERVICES, LLC (2.81%), .


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 $159,900 (14.3%) $197,234 (4.2%) 0.59 813
2018-02-01 $170,950 (17.6%) $206,348 (3.3%) 0.62 872
2018-03-01 $175,000 (12.0%) $209,531 (1.1%) 0.61 960
2018-04-01 $179,900 (12.5%) $214,271 (1.0%) 0.60 1,024
2018-05-01 $179,900 (11.6%) $210,022 (1.2%) 0.60 1,061
2018-06-01 $179,900 (7.5%) $209,574 (1.3%) 0.60 1,072
2018-07-01 $176,900 (7.9%) $206,110 (1.2%) 0.59 1,101
2018-08-01 $169,900 (6.3%) $203,478 (2.2%) 0.57 1,059
2018-09-01 $168,900 (4.3%) $202,864 (0.7%) 0.56 1,024
2018-10-01 $164,700 (-0.1%) $199,368 (-2.1%) 0.55 970
2018-11-01 $157,450 (-2.2%) $197,381 (-1.8%) 0.53 911
2018-12-01 $149,900 (-6.3%) $186,864 (-5.4%) 0.51 796
2019-01-01 $149,900 (-6.3%) $184,768 (-6.3%) 0.52 708
2019-02-01 $159,750 (-6.6%) $190,513 (-7.7%) 0.54 659
2019-03-01 $155,657 (-11.1%) $190,753 (-9.0%) 0.51 714
2019-04-01 $153,207 (-14.8%) $189,251 (-11.7%) 0.48 784
2019-05-01 $155,000 (-13.8%) $190,063 (-9.5%) 0.48 849
2019-06-01 $155,000 (-13.8%) $190,512 (-9.1%) 0.48 876
2019-07-01 $159,750 (-9.7%) $195,526 (-5.1%) 0.50 881
2019-08-01 $154,471 (-9.1%) $193,230 (-5.0%) 0.49 853
2019-09-01 $149,900 (-11.3%) $189,284 (-6.7%) 0.48 817
2019-10-01 $145,000 (-12.0%) $187,295 (-6.1%) 0.46 778
2019-11-01 $144,900 (-8.0%) $185,122 (-6.2%) 0.47 690
2019-12-01 $134,950 (-10.0%) $181,112 (-3.1%) 0.45 623
2020-01-01 $134,900 (-10.0%) $183,079 (-0.9%) 0.45 581
2020-02-01 $135,000 (-15.5%) $178,720 (-6.2%) 0.44 571
2020-03-01 $145,500 (-6.5%) $190,987 (0.1%) 0.45 590
2020-04-01 $154,000 (0.5%) $195,217 (3.2%) 0.48 556
2020-05-01 $149,900 (-3.3%) $198,165 (4.3%) 0.45 519
2020-06-01 $149,950 (-3.3%) $197,793 (3.8%) 0.44 472
2020-07-01 $149,950 (-6.1%) $203,006 (3.8%) 0.43 444
2020-08-01 $149,900 (-3.0%) $196,963 (1.9%) 0.43 428
2020-09-01 $140,950 (-6.0%) $189,950 (0.4%) 0.40 401
2020-10-01 $132,900 (-8.3%) $183,685 (-1.9%) 0.38 378
2020-11-01 $130,950 (-9.6%) $180,652 (-2.4%) 0.37 364
2020-12-01 $127,450 (-5.6%) $175,158 (-3.3%) 0.37 322
2021-01-01 $124,900 (-7.4%) $171,864 (-6.1%) 0.37 274
2021-02-01 $127,950 (-5.2%) $184,045 (3.0%) 0.37 236
2021-03-01 $137,500 (-5.5%) $200,427 (4.9%) 0.39 199
2021-04-01 $142,500 (-7.5%) $211,443 (8.3%) 0.38 193
2021-05-01 $152,000 (1.4%) $223,359 (12.7%) 0.40 197
2021-06-01 $161,200 (7.5%) $230,039 (16.3%) 0.42 211
2021-07-01 $159,900 (6.6%) $232,249 (14.4%) 0.42 222
2021-08-01 $150,000 (0.1%) $219,354 (11.4%) 0.39 234
2021-09-01 $150,000 (6.4%) $213,927 (12.6%) 0.39 235
2021-10-01 $134,900 (1.5%) $193,415 (5.3%) 0.36 229
2021-11-01 $134,950 (3.1%) $202,224 (11.9%) 0.36 210
2021-12-01 $137,000 (7.5%) $203,557 (16.2%) 0.37 185
2022-01-01 $127,000 (1.7%) $200,604 (16.7%) 0.34 150
2022-02-01 $126,000 (-1.5%) $195,833 (6.4%) 0.32 134
2022-03-01 $154,500 (12.4%) $227,443 (13.5%) 0.38 122
2022-04-01 $164,900 (15.7%) $264,052 (24.9%) 0.39 128
Bloomington's median listing price for 2022-04-01 was $164,900, a difference of $22,400 (15.7%) versus the prior year and $10,400 versus the prior month.

Bloomington's median listing price comes in at 39% of the national average.

Bloomington's average listing price for 2022-04-01 was $264,052, a difference of $52,609 (24.9%) versus the prior year and $36,609 versus the prior month.

For the 2022-04-01 period, Bloomington had 128 MLS listings, a difference of 6 listings (5%) versus the prior month and -65 listings (-34%) 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 95 days 2,550 sqft
2018-02-01 88 days 2,726 sqft
2018-03-01 63 days 2,740 sqft
2018-04-01 61 days 2,758 sqft
2018-05-01 65 days 2,764 sqft
2018-06-01 61 days 2,760 sqft
2018-07-01 64 days 2,735 sqft
2018-08-01 67 days 2,722 sqft
2018-09-01 72 days 2,718 sqft
2018-10-01 78 days 2,666 sqft
2018-11-01 84 days 2,592 sqft
2018-12-01 94 days 2,504 sqft
2019-01-01 99 days 2,212 sqft
2019-02-01 99 days 1,690 sqft
2019-03-01 58 days 1,700 sqft
2019-04-01 57 days 1,707 sqft
2019-05-01 60 days 1,729 sqft
2019-06-01 67 days 1,768 sqft
2019-07-01 67 days 1,808 sqft
2019-08-01 73 days 1,789 sqft
2019-09-01 79 days 1,769 sqft
2019-10-01 77 days 1,764 sqft
2019-11-01 83 days 1,772 sqft
2019-12-01 86 days 1,751 sqft
2020-01-01 95 days 1,745 sqft
2020-02-01 92 days 1,743 sqft
2020-03-01 65 days 1,804 sqft
2020-04-01 75 days 1,783 sqft
2020-05-01 78 days 1,820 sqft
2020-06-01 81 days 1,952 sqft
2020-07-01 59 days 1,910 sqft
2020-08-01 56 days 1,935 sqft
2020-09-01 59 days 1,819 sqft
2020-10-01 60 days 1,787 sqft
2020-11-01 67 days 1,772 sqft
2020-12-01 73 days 1,708 sqft
2021-01-01 81 days 1,716 sqft
2021-02-01 83 days 1,763 sqft
2021-03-01 63 days 1,803 sqft
2021-04-01 49 days 1,812 sqft
2021-05-01 48 days 1,861 sqft
2021-06-01 46 days 1,890 sqft
2021-07-01 46 days 1,952 sqft
2021-08-01 48 days 1,897 sqft
2021-09-01 50 days 1,874 sqft
2021-10-01 56 days 1,705 sqft
2021-11-01 62 days 1,720 sqft
2021-12-01 61 days 1,717 sqft
2022-01-01 77 days 1,608 sqft
2022-02-01 83 days 1,559 sqft
2022-03-01 68 days 1,712 sqft
2022-04-01 49 days 1,848 sqft
Bloomington's median listing age (time on market) for 2022-04-01 was 49 days. This is 0% longer than the same period one year ago.

Bloomington's median square footage for active listings during the 2022-04-01 period was 1,848 sqft. One year prior, the average listing was 1,812 sqft.