Brookings USDA Loan Rates, Closing Costs & Stats
Brookings, SD
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.
Brookings's 4 lenders originated 7 USDA loans during 2023. The total origination value was $1,755,000, with an average USDA loan value of $250,714.
Brookings USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Brookings
averaged
6.56%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Brookings's average USDA mortgage closing costs are $5,203.
The average rate for the prior week (2024-04-12) was
6.71% and
one month ago for the week of 2024-03-15, the
average rate was 6.3%.
The average rate one year ago was 5.94%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.06%.
Brookings 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 Brookings level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Plains Commerce Bank | 3 | 5.79% | $5,496 |
| First Bank & Trust | 2 | 6.69% | $5,510 |
| American Mortgage & Equity Consultants, Inc. | 1 | 7.13% | $7,201 |
| Reliabank Dakota | 1 | 5.88% | $5,586 |
The top Brookings USDA lender as defined by loan originations is Plains Commerce Bank, with
3 USDA loans originated. Their average total fees are
$5,496, which is $14
lower than the next largest lender,
First Bank & Trust.
The lowest fee Brookings USDA lenders (with over 10 loans originated) are
.
The lowest rate Brookings USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Brookings (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 | $206,168 (-68.3%) | $223,932 (-65.5%) | 0.00 | 93 |
| 2018-02-01 | $207,675 (-57.8%) | $239,121 (-51.4%) | 0.00 | 92 |
| 2018-03-01 | $222,400 (-45.2%) | $245,181 (-42.0%) | 0.00 | 101 |
| 2018-04-01 | $224,900 (-30.8%) | $241,550 (-24.1%) | 0.00 | 110 |
| 2018-05-01 | $221,950 (-38.4%) | $245,030 (-32.2%) | 0.00 | 118 |
| 2018-06-01 | $215,643 (-34.2%) | $236,494 (-31.2%) | 0.00 | 130 |
| 2018-07-01 | $217,071 (3.4%) | $242,722 (-3.0%) | 0.00 | 142 |
| 2018-08-01 | $215,271 (4.9%) | $249,605 (7.8%) | 0.00 | 141 |
| 2018-09-01 | $212,400 (5.7%) | $249,629 (8.1%) | 0.00 | 144 |
| 2018-10-01 | $217,400 (8.5%) | $248,196 (4.6%) | 0.00 | 140 |
| 2018-11-01 | $223,725 (4.4%) | $255,047 (7.7%) | 0.00 | 131 |
| 2018-12-01 | $224,000 (3.8%) | $265,413 (13.6%) | 0.00 | 110 |
| 2019-01-01 | $231,150 (12.1%) | $266,075 (18.8%) | 0.00 | 87 |
| 2019-02-01 | $237,400 (14.3%) | $276,727 (15.7%) | 0.00 | 81 |
| 2019-03-01 | $241,186 (8.5%) | $283,522 (15.6%) | 0.00 | 82 |
| 2019-04-01 | $243,900 (8.5%) | $288,677 (19.5%) | 0.00 | 82 |
| 2019-05-01 | $260,900 (17.6%) | $297,059 (21.2%) | 0.00 | 86 |
| 2019-06-01 | $266,400 (23.5%) | $295,794 (25.1%) | 0.00 | 103 |
| 2019-07-01 | $256,900 (18.4%) | $288,405 (18.8%) | 0.00 | 113 |
| 2019-08-01 | $265,109 (23.2%) | $292,957 (17.4%) | 0.00 | 113 |
| 2019-09-01 | $258,523 (21.7%) | $290,183 (16.3%) | 0.00 | 111 |
| 2019-10-01 | $254,132 (16.9%) | $288,334 (16.2%) | 0.00 | 107 |
| 2019-11-01 | $253,400 (13.3%) | $284,761 (11.7%) | 0.00 | 99 |
| 2019-12-01 | $249,900 (11.6%) | $284,943 (7.4%) | 0.00 | 88 |
| 2020-01-01 | $244,578 (5.8%) | $266,993 (0.4%) | 0.00 | 79 |
| 2020-02-01 | $246,900 (4.0%) | $271,782 (-1.8%) | 0.00 | 78 |
| 2020-03-01 | $266,400 (10.5%) | $290,447 (2.4%) | 0.00 | 77 |
| 2020-04-01 | $276,150 (13.2%) | $298,740 (3.5%) | 0.00 | 89 |
| 2020-05-01 | $299,200 (14.7%) | $299,601 (0.9%) | 0.00 | 90 |
| 2020-06-01 | $292,150 (9.7%) | $300,042 (1.4%) | 0.00 | 100 |
| 2020-07-01 | $299,400 (16.5%) | $311,555 (8.0%) | 0.00 | 90 |
| 2020-08-01 | $269,900 (1.8%) | $284,257 (-3.0%) | 0.00 | 77 |
| 2020-09-01 | $269,900 (4.4%) | $289,548 (-0.2%) | 0.00 | 73 |
| 2020-10-01 | $274,900 (8.2%) | $317,530 (10.1%) | 0.00 | 51 |
| 2020-11-01 | $267,650 (5.6%) | $310,097 (8.9%) | 0.00 | 46 |
| 2020-12-01 | $274,200 (9.7%) | $320,338 (12.4%) | 0.00 | 40 |
| 2021-01-01 | $309,900 (26.7%) | $332,424 (24.5%) | 0.00 | 32 |
| 2021-02-01 | $301,150 (22.0%) | $342,975 (26.2%) | 0.00 | 31 |
| 2021-03-01 | $296,150 (11.2%) | $363,195 (25.1%) | 0.00 | 33 |
| 2021-04-01 | $289,400 (4.8%) | $302,007 (1.1%) | 0.00 | 29 |
| 2021-05-01 | $288,900 (-3.4%) | $294,595 (-1.7%) | 0.00 | 35 |
| 2021-06-01 | $299,900 (2.7%) | $369,477 (23.1%) | 0.00 | 44 |
| 2021-07-01 | $294,900 (-1.5%) | $372,435 (19.5%) | 0.00 | 35 |
| 2021-08-01 | $276,400 (2.4%) | $368,401 (29.6%) | 0.00 | 36 |
| 2021-09-01 | $287,650 (6.6%) | $366,796 (26.7%) | 0.00 | 35 |
| 2021-10-01 | $296,900 (8.0%) | $361,430 (13.8%) | 0.00 | 47 |
| 2021-11-01 | $297,900 (11.3%) | $372,253 (20.0%) | 0.00 | 40 |
| 2021-12-01 | $313,450 (14.3%) | $394,624 (23.2%) | 0.00 | 34 |
| 2022-01-01 | $328,400 (6.0%) | $354,478 (6.6%) | 0.00 | 27 |
| 2022-02-01 | $321,150 (6.6%) | $325,500 (-5.1%) | 0.00 | 30 |
| 2022-03-01 | $325,400 (9.9%) | $333,758 (-8.1%) | 0.00 | 34 |
| 2022-04-01 | $322,400 (11.4%) | $332,796 (10.2%) | 0.00 | 35 |
| 2022-05-01 | $324,650 (12.4%) | $338,758 (15.0%) | 0.00 | 34 |
| 2022-06-01 | $326,800 (9.0%) | $357,960 (-3.1%) | 0.00 | 39 |
| 2022-07-01 | $328,900 (11.5%) | $377,939 (1.5%) | 0.00 | 38 |
| 2022-08-01 | $328,900 (19.0%) | $379,446 (3.0%) | 0.00 | 42 |
| 2022-09-01 | $343,000 (19.2%) | $383,542 (4.6%) | 0.00 | 44 |
| 2022-10-01 | $359,900 (21.2%) | $411,658 (13.9%) | 0.00 | 48 |
| 2022-11-01 | $348,175 (16.9%) | $415,880 (11.7%) | 0.00 | 45 |
| 2022-12-01 | $349,900 (11.6%) | $410,859 (4.1%) | 0.00 | 39 |
| 2023-01-01 | $373,050 (13.6%) | $396,429 (11.8%) | 0.00 | 34 |
| 2023-02-01 | $375,550 (16.9%) | $390,265 (19.9%) | 0.00 | 32 |
| 2023-03-01 | $384,900 (18.3%) | $416,259 (24.7%) | 0.00 | 31 |
| 2023-04-01 | $367,400 (14.0%) | $408,678 (22.8%) | 0.00 | 38 |
| 2023-05-01 | $367,400 (13.2%) | $417,921 (23.4%) | 0.00 | 55 |
| 2023-06-01 | $399,700 (22.3%) | $455,924 (27.4%) | 0.00 | 57 |
| 2023-07-01 | $384,900 (17.0%) | $436,647 (15.5%) | 0.00 | 60 |
| 2023-08-01 | $387,400 (17.8%) | $428,137 (12.8%) | 0.00 | 73 |
| 2023-09-01 | $374,900 (9.3%) | $425,136 (10.8%) | 0.00 | 74 |
| 2023-10-01 | $375,438 (4.3%) | $425,676 (3.4%) | 0.00 | 76 |
| 2023-11-01 | $372,400 (7.0%) | $423,876 (1.9%) | 0.00 | 73 |
| 2023-12-01 | $369,900 (5.7%) | $425,597 (3.6%) | 0.00 | 61 |
| 2024-01-01 | $372,400 (-0.2%) | $439,763 (10.9%) | 0.00 | 58 |
| 2024-02-01 | $371,150 (-1.2%) | $423,179 (8.4%) | 0.00 | 49 |
| 2024-03-01 | $389,900 (1.3%) | $436,089 (4.8%) | 0.00 | 55 |
Brookings's median listing price comes in at 0% of the national average.
Brookings's average listing price for 2024-03-01 was $436,089, a difference of $19,830 (4.8%) versus the prior year and $12,910 versus the prior month.
For the 2024-03-01 period, Brookings had 55 MLS listings, a difference of 6 listings (12%) versus the prior month and 24 listings (77%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Brookings (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,280 sqft |
| 2018-02-01 | 0 days | 1,290 sqft |
| 2018-03-01 | 0 days | 1,328 sqft |
| 2018-04-01 | 0 days | 1,334 sqft |
| 2018-05-01 | 0 days | 1,344 sqft |
| 2018-06-01 | 0 days | 1,344 sqft |
| 2018-07-01 | 0 days | 1,354 sqft |
| 2018-08-01 | 0 days | 1,364 sqft |
| 2018-09-01 | 0 days | 1,354 sqft |
| 2018-10-01 | 0 days | 1,349 sqft |
| 2018-11-01 | 0 days | 1,347 sqft |
| 2018-12-01 | 0 days | 1,375 sqft |
| 2019-01-01 | 0 days | 1,375 sqft |
| 2019-02-01 | 0 days | 1,395 sqft |
| 2019-03-01 | 0 days | 1,421 sqft |
| 2019-04-01 | 0 days | 1,430 sqft |
| 2019-05-01 | 0 days | 1,437 sqft |
| 2019-06-01 | 0 days | 1,495 sqft |
| 2019-07-01 | 0 days | 1,487 sqft |
| 2019-08-01 | 0 days | 1,484 sqft |
| 2019-09-01 | 0 days | 1,468 sqft |
| 2019-10-01 | 0 days | 1,458 sqft |
| 2019-11-01 | 0 days | 1,426 sqft |
| 2019-12-01 | 0 days | 1,441 sqft |
| 2020-01-01 | 0 days | 1,376 sqft |
| 2020-02-01 | 0 days | 1,379 sqft |
| 2020-03-01 | 0 days | 1,417 sqft |
| 2020-04-01 | 0 days | 1,477 sqft |
| 2020-05-01 | 0 days | 1,478 sqft |
| 2020-06-01 | 0 days | 1,493 sqft |
| 2020-07-01 | 0 days | 1,528 sqft |
| 2020-08-01 | 0 days | 1,523 sqft |
| 2020-09-01 | 0 days | 1,501 sqft |
| 2020-10-01 | 0 days | 1,586 sqft |
| 2020-11-01 | 0 days | 1,515 sqft |
| 2020-12-01 | 0 days | 1,513 sqft |
| 2021-01-01 | 0 days | 1,679 sqft |
| 2021-02-01 | 0 days | 1,531 sqft |
| 2021-03-01 | 0 days | 1,562 sqft |
| 2021-04-01 | 0 days | 1,494 sqft |
| 2021-05-01 | 0 days | 1,358 sqft |
| 2021-06-01 | 0 days | 1,516 sqft |
| 2021-07-01 | 0 days | 1,494 sqft |
| 2021-08-01 | 0 days | 1,508 sqft |
| 2021-09-01 | 0 days | 1,573 sqft |
| 2021-10-01 | 0 days | 1,510 sqft |
| 2021-11-01 | 0 days | 1,571 sqft |
| 2021-12-01 | 0 days | 1,560 sqft |
| 2022-01-01 | 0 days | 1,573 sqft |
| 2022-02-01 | 0 days | 1,500 sqft |
| 2022-03-01 | 0 days | 1,448 sqft |
| 2022-04-01 | 0 days | 1,450 sqft |
| 2022-05-01 | 0 days | 1,448 sqft |
| 2022-06-01 | 0 days | 1,511 sqft |
| 2022-07-01 | 0 days | 1,485 sqft |
| 2022-08-01 | 0 days | 1,464 sqft |
| 2022-09-01 | 0 days | 1,588 sqft |
| 2022-10-01 | 0 days | 1,671 sqft |
| 2022-11-01 | 0 days | 1,570 sqft |
| 2022-12-01 | 0 days | 1,629 sqft |
| 2023-01-01 | 0 days | 1,629 sqft |
| 2023-02-01 | 0 days | 1,586 sqft |
| 2023-03-01 | 0 days | 1,648 sqft |
| 2023-04-01 | 0 days | 1,586 sqft |
| 2023-05-01 | 0 days | 1,558 sqft |
| 2023-06-01 | 0 days | 1,648 sqft |
| 2023-07-01 | 0 days | 1,668 sqft |
| 2023-08-01 | 0 days | 1,656 sqft |
| 2023-09-01 | 0 days | 1,500 sqft |
| 2023-10-01 | 0 days | 1,470 sqft |
| 2023-11-01 | 0 days | 1,470 sqft |
| 2023-12-01 | 0 days | 1,485 sqft |
| 2024-01-01 | 0 days | 1,462 sqft |
| 2024-02-01 | 0 days | 1,462 sqft |
| 2024-03-01 | 0 days | 1,500 sqft |
Brookings's median square footage for active listings during the 2024-03-01 period was 1,500 sqft. One year prior, the average listing was 1,648 sqft.