Canton USDA Loan Rates, Closing Costs & Stats

CANTON-MASSILLON, OH

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    • 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.

    Canton's 15 lenders originated 31 USDA loans during 2023. The total origination value was $6,055,000, with an average USDA loan value of $195,323.

    Canton USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Canton averaged 7.02% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Canton's average USDA mortgage closing costs are $4,691.

    The average rate for the prior week (2024-04-12) was 6.77% and one month ago for the week of 2024-03-15, the average rate was 6.75%.

    The average rate one year ago was 6.59%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.05%.

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

    Canton 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 Canton level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CROSSCOUNTRY MORTGAGE, LLC 10 6.91% $6,736
    Hometown Equity Mortgage, LLC 2 6.56% $7,786
    NEWREZ LLC 2 6.19% $4,782
    POLARIS HOME FUNDING CORP. 2 6.88% $9,902
    GVC MORTGAGE, INC. 2 7.38% $6,387
    UNITED WHOLESALE MORTGAGE, LLC 2 6.06% $7,663
    Nations Lending Corporation 1 6.25% $8,977
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $6,945
    The Huntington National Bank 1 6.63% $6,913
    LOANDEPOT.COM, LLC 1 7.13% $6,799
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $7,158
    FIRST COMMUNITY MORTGAGE, INC. 1 6.38% $6,668
    GENEVA FINANCIAL, LLC 1 5.63% $7,902
    AMCAP MORTGAGE, LTD. 1 5.99% $9,193
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.63% $7,477

    The top Canton USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 10 USDA loans originated. Their average total fees are $6,736, which is $1,050 lower than the next largest lender, Hometown Equity Mortgage, LLC.

    The lowest fee Canton USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC ($6,736), .

    The lowest rate Canton USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC (6.91%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Canton (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 $132,675 (6.2%) $182,646 (2.1%) 0.49 918
    2018-02-01 $130,425 (3.2%) $186,438 (-0.7%) 0.47 879
    2018-03-01 $139,700 (5.5%) $196,851 (3.0%) 0.49 846
    2018-04-01 $143,700 (10.6%) $204,708 (8.8%) 0.49 820
    2018-05-01 $153,700 (12.4%) $206,396 (4.0%) 0.51 830
    2018-06-01 $154,900 (6.9%) $207,674 (1.7%) 0.52 909
    2018-07-01 $155,450 (11.1%) $212,308 (6.9%) 0.52 953
    2018-08-01 $159,450 (13.9%) $211,786 (7.1%) 0.53 1,036
    2018-09-01 $158,900 (13.6%) $211,904 (10.8%) 0.53 1,077
    2018-10-01 $149,950 (8.7%) $208,891 (12.0%) 0.51 1,078
    2018-11-01 $145,075 (4.2%) $205,543 (10.4%) 0.49 1,066
    2018-12-01 $141,950 (5.2%) $203,771 (10.2%) 0.49 991
    2019-01-01 $144,675 (9.0%) $203,761 (11.6%) 0.50 882
    2019-02-01 $144,625 (10.9%) $205,784 (10.4%) 0.49 855
    2019-03-01 $156,671 (12.2%) $219,903 (11.7%) 0.51 784
    2019-04-01 $168,246 (17.1%) $231,657 (13.2%) 0.53 763
    2019-05-01 $166,575 (8.4%) $223,472 (8.3%) 0.52 810
    2019-06-01 $165,900 (7.1%) $222,821 (7.3%) 0.52 851
    2019-07-01 $160,995 (3.6%) $215,262 (1.4%) 0.50 934
    2019-08-01 $161,329 (1.2%) $212,821 (0.5%) 0.51 991
    2019-09-01 $163,338 (2.8%) $209,960 (-0.9%) 0.52 1,037
    2019-10-01 $164,677 (9.8%) $207,063 (-0.9%) 0.53 1,075
    2019-11-01 $159,900 (10.2%) $205,707 (0.1%) 0.52 1,047
    2019-12-01 $159,900 (12.7%) $202,756 (-0.5%) 0.53 938
    2020-01-01 $159,563 (10.3%) $203,473 (-0.1%) 0.53 842
    2020-02-01 $166,000 (14.8%) $213,401 (3.7%) 0.54 768
    2020-03-01 $169,900 (8.4%) $218,984 (-0.4%) 0.53 696
    2020-04-01 $181,950 (8.1%) $226,544 (-2.2%) 0.57 684
    2020-05-01 $181,500 (9.0%) $236,950 (6.0%) 0.55 637
    2020-06-01 $189,900 (14.5%) $243,861 (9.4%) 0.56 553
    2020-07-01 $188,348 (17.0%) $241,240 (12.1%) 0.55 547
    2020-08-01 $180,500 (11.9%) $234,864 (10.4%) 0.52 537
    2020-09-01 $176,200 (7.9%) $235,645 (12.2%) 0.50 519
    2020-10-01 $164,900 (0.1%) $234,465 (13.2%) 0.47 547
    2020-11-01 $157,075 (-1.8%) $246,900 (20.0%) 0.46 508
    2020-12-01 $160,000 (0.1%) $243,732 (20.2%) 0.48 495
    2021-01-01 $163,450 (2.4%) $253,471 (24.6%) 0.49 422
    2021-02-01 $169,400 (2.1%) $264,160 (23.8%) 0.49 317
    2021-03-01 $179,900 (5.9%) $271,325 (23.9%) 0.51 303
    2021-04-01 $179,900 (-1.1%) $268,776 (18.6%) 0.49 296
    2021-05-01 $184,900 (1.9%) $260,181 (9.8%) 0.49 362
    2021-06-01 $193,200 (1.7%) $254,045 (4.2%) 0.51 421
    2021-07-01 $195,000 (3.5%) $254,465 (5.5%) 0.51 484
    2021-08-01 $184,900 (2.4%) $245,889 (4.7%) 0.49 485
    2021-09-01 $194,675 (10.5%) $245,813 (4.3%) 0.52 520
    2021-10-01 $179,950 (9.1%) $237,795 (1.4%) 0.48 538
    2021-11-01 $175,000 (11.4%) $236,655 (-4.2%) 0.47 463
    2021-12-01 $168,175 (5.1%) $224,813 (-7.8%) 0.46 409
    2022-01-01 $172,900 (5.8%) $235,429 (-7.1%) 0.47 320
    2022-02-01 $172,175 (1.6%) $228,472 (-13.5%) 0.45 282
    2022-03-01 $170,000 (-5.5%) $226,470 (-16.5%) 0.43 265
    2022-04-01 $174,900 (-2.8%) $250,962 (-6.6%) 0.42 261
    2022-05-01 $184,900 (0.0%) $253,574 (-2.5%) 0.42 358
    2022-06-01 $174,475 (-9.7%) $246,952 (-2.8%) 0.39 424
    2022-07-01 $199,000 (2.1%) $256,676 (0.9%) 0.45 533
    2022-08-01 $194,725 (5.3%) $261,375 (6.3%) 0.45 573
    2022-09-01 $192,200 (-1.3%) $259,586 (5.6%) 0.45 555
    2022-10-01 $180,000 (0.0%) $260,421 (9.5%) 0.42 545
    2022-11-01 $187,675 (7.2%) $270,473 (14.3%) 0.45 559
    2022-12-01 $190,000 (13.0%) $273,825 (21.8%) 0.47 490
    2023-01-01 $182,175 (5.4%) $272,178 (15.6%) 0.45 410
    2023-02-01 $187,125 (8.7%) $275,413 (20.6%) 0.45 366
    2023-03-01 $203,338 (19.6%) $268,380 (18.5%) 0.48 356
    2023-04-01 $215,500 (23.2%) $291,074 (16.0%) 0.50 360
    2023-05-01 $217,700 (17.7%) $282,653 (11.5%) 0.49 334
    2023-06-01 $222,400 (27.5%) $285,107 (15.5%) 0.50 383
    2023-07-01 $229,950 (15.6%) $290,781 (13.3%) 0.52 418
    2023-08-01 $249,000 (27.9%) $300,409 (14.9%) 0.57 439
    2023-09-01 $235,450 (22.5%) $293,777 (13.2%) 0.55 473
    2023-10-01 $241,500 (34.2%) $293,805 (12.8%) 0.57 519
    2023-11-01 $235,000 (25.2%) $290,266 (7.3%) 0.56 572
    2023-12-01 $230,000 (21.1%) $286,014 (4.5%) 0.56 554
    2024-01-01 $239,900 (31.7%) $297,684 (9.4%) 0.59 442
    2024-02-01 $245,475 (31.2%) $294,948 (7.1%) 0.59 403
    2024-03-01 $248,000 (22.0%) $307,857 (14.7%) 0.58 345
    Canton's median listing price for 2024-03-01 was $248,000, a difference of $44,662 (22.0%) versus the prior year and $2,525 versus the prior month.

    Canton's median listing price comes in at 58% of the national average.

    Canton's average listing price for 2024-03-01 was $307,857, a difference of $39,477 (14.7%) versus the prior year and $12,909 versus the prior month.

    For the 2024-03-01 period, Canton had 345 MLS listings, a difference of -58 listings (-14%) versus the prior month and -11 listings (-3%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Canton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 65 days 1,582 sqft
    2018-02-01 59 days 1,569 sqft
    2018-03-01 47 days 1,620 sqft
    2018-04-01 42 days 1,654 sqft
    2018-05-01 41 days 1,681 sqft
    2018-06-01 40 days 1,720 sqft
    2018-07-01 41 days 1,806 sqft
    2018-08-01 40 days 1,818 sqft
    2018-09-01 43 days 1,802 sqft
    2018-10-01 48 days 1,772 sqft
    2018-11-01 47 days 1,732 sqft
    2018-12-01 58 days 1,722 sqft
    2019-01-01 65 days 1,715 sqft
    2019-02-01 49 days 1,730 sqft
    2019-03-01 43 days 1,762 sqft
    2019-04-01 37 days 1,808 sqft
    2019-05-01 36 days 1,696 sqft
    2019-06-01 39 days 1,716 sqft
    2019-07-01 41 days 1,694 sqft
    2019-08-01 40 days 1,714 sqft
    2019-09-01 39 days 1,752 sqft
    2019-10-01 39 days 1,770 sqft
    2019-11-01 48 days 1,728 sqft
    2019-12-01 59 days 1,717 sqft
    2020-01-01 66 days 1,717 sqft
    2020-02-01 47 days 1,756 sqft
    2020-03-01 51 days 1,778 sqft
    2020-04-01 48 days 1,786 sqft
    2020-05-01 57 days 1,761 sqft
    2020-06-01 47 days 1,819 sqft
    2020-07-01 40 days 1,806 sqft
    2020-08-01 42 days 1,761 sqft
    2020-09-01 44 days 1,748 sqft
    2020-10-01 40 days 1,715 sqft
    2020-11-01 49 days 1,680 sqft
    2020-12-01 52 days 1,690 sqft
    2021-01-01 58 days 1,685 sqft
    2021-02-01 53 days 1,675 sqft
    2021-03-01 38 days 1,714 sqft
    2021-04-01 32 days 1,734 sqft
    2021-05-01 27 days 1,720 sqft
    2021-06-01 24 days 1,762 sqft
    2021-07-01 26 days 1,767 sqft
    2021-08-01 32 days 1,699 sqft
    2021-09-01 32 days 1,702 sqft
    2021-10-01 33 days 1,682 sqft
    2021-11-01 40 days 1,663 sqft
    2021-12-01 44 days 1,630 sqft
    2022-01-01 48 days 1,600 sqft
    2022-02-01 42 days 1,620 sqft
    2022-03-01 30 days 1,618 sqft
    2022-04-01 29 days 1,664 sqft
    2022-05-01 24 days 1,694 sqft
    2022-06-01 29 days 1,592 sqft
    2022-07-01 29 days 1,680 sqft
    2022-08-01 33 days 1,645 sqft
    2022-09-01 36 days 1,635 sqft
    2022-10-01 37 days 1,600 sqft
    2022-11-01 40 days 1,649 sqft
    2022-12-01 47 days 1,623 sqft
    2023-01-01 59 days 1,594 sqft
    2023-02-01 48 days 1,567 sqft
    2023-03-01 34 days 1,619 sqft
    2023-04-01 35 days 1,674 sqft
    2023-05-01 35 days 1,698 sqft
    2023-06-01 33 days 1,728 sqft
    2023-07-01 34 days 1,728 sqft
    2023-08-01 36 days 1,762 sqft
    2023-09-01 36 days 1,700 sqft
    2023-10-01 33 days 1,669 sqft
    2023-11-01 35 days 1,655 sqft
    2023-12-01 44 days 1,650 sqft
    2024-01-01 57 days 1,658 sqft
    2024-02-01 43 days 1,627 sqft
    2024-03-01 40 days 1,639 sqft
    Canton's median listing age (time on market) for 2024-03-01 was 40 days. This is 18% longer than the same period one year ago.

    Canton's median square footage for active listings during the 2024-03-01 period was 1,639 sqft. One year prior, the average listing was 1,619 sqft.