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%.
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 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 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.
