Canton USDA Loans

CANTON-MASSILLON, OH

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 27 lenders originated 81 USDA loans during 2021. The total origination value was $11,015,000, with an average USDA loan value of $135,988.

Canton USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Canton averaged 5.2% 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 5.23% and one month ago for the week of 2022-04-08, the average rate was 4.99%.

The average rate one year ago was 3.11%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.27%.

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

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
CROSSCOUNTRY MORTGAGE, LLC 11 3.07% $4,778
SIGNATURE MORTGAGE CORPORATION 10 3.25% $4,904
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 2.97% $4,024
UNION HOME MORTGAGE CORP. 7 2.91% $4,774
POLARIS HOME FUNDING CORP. 6 3.42% $5,509
Republic State Mortgage Co. 5 3.55% $3,422
The Huntington National Bank 5 3.08% $4,393
AMCAP MORTGAGE, LTD. 4 3.25% $4,950
HOME POINT FINANCIAL CORPORATION 4 3.12% $3,552
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.19% $5,020
AMERIFIRST FINANCIAL CORPORATION 2 3.00% $6,863
PNC Bank 1 3.00% $3,024
RELIANCE FIRST CAPITAL, LLC 1 2.88% $4,223
RESIDENTIAL BANCORP. 1 2.88% $6,615
SUPERIOR FINANCIAL SOLUTIONS, LLC 1 3.13% $3,980
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.88% $6,191
UNITED WHOLESALE MORTGAGE, LLC 1 3.00% $5,924
Bank of England 1 3.00% $7,695
First Guaranty Mortgage Corporation 1 2.75% $4,967
GENEVA FINANCIAL, LLC 1 3.25% $7,571
GUARANTEED RATE, INC. 1 2.63% $6,334
Hometown Equity Mortgage, LLC 1 3.13% $5,833
HOWARD HANNA FINANCIAL SERVICES, INC. 1 2.50% $4,387
LIBERTY HOME MORTGAGE CORPORATION 1 3.13% $3,345
Northpointe Bank 1 3.00% $5,132
PENNYMAC LOAN SERVICES, LLC 1 3.00% $2,913
PLAZA HOME MORTGAGE, INC. 1 2.88% $3,615

The top Canton USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 11 USDA loans originated. Their average total fees are $4,778, which is $126 lower than the next largest lender, SIGNATURE MORTGAGE CORPORATION.

The lowest fee Canton USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC ($4,778), SIGNATURE MORTGAGE CORPORATION ($4,904), .

The lowest rate Canton USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC (3.07%), SIGNATURE MORTGAGE CORPORATION (3.25%), .


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 $130,900 (4.8%) $181,645 (3.0%) 0.48 900
2018-02-01 $129,450 (1.8%) $185,411 (-0.3%) 0.47 855
2018-03-01 $138,000 (4.2%) $194,885 (2.5%) 0.48 813
2018-04-01 $142,245 (9.5%) $205,099 (9.2%) 0.48 790
2018-05-01 $149,900 (10.0%) $207,006 (4.5%) 0.50 797
2018-06-01 $150,000 (7.2%) $208,982 (3.1%) 0.50 885
2018-07-01 $155,000 (11.5%) $214,772 (9.4%) 0.52 941
2018-08-01 $157,495 (12.9%) $212,485 (7.9%) 0.53 1,023
2018-09-01 $156,900 (12.2%) $214,057 (11.1%) 0.52 1,040
2018-10-01 $149,450 (6.8%) $211,268 (12.0%) 0.50 1,055
2018-11-01 $146,250 (5.1%) $208,460 (11.0%) 0.49 1,039
2018-12-01 $144,000 (6.8%) $207,325 (12.2%) 0.49 980
2019-01-01 $144,000 (10.0%) $207,746 (14.4%) 0.50 865
2019-02-01 $143,250 (10.7%) $209,090 (12.8%) 0.48 837
2019-03-01 $158,086 (14.6%) $221,692 (13.8%) 0.52 761
2019-04-01 $171,450 (20.5%) $232,856 (13.5%) 0.54 737
2019-05-01 $168,700 (12.5%) $226,680 (9.5%) 0.52 784
2019-06-01 $169,900 (13.3%) $225,107 (7.7%) 0.52 826
2019-07-01 $162,000 (4.5%) $217,077 (1.1%) 0.50 910
2019-08-01 $163,243 (3.7%) $216,321 (1.8%) 0.51 924
2019-09-01 $164,900 (5.1%) $213,397 (-0.3%) 0.52 922
2019-10-01 $160,945 (7.7%) $205,987 (-2.5%) 0.51 1,023
2019-11-01 $160,000 (9.4%) $209,544 (0.5%) 0.52 1,023
2019-12-01 $159,900 (11.0%) $204,517 (-1.4%) 0.53 922
2020-01-01 $158,500 (10.1%) $201,512 (-3.0%) 0.53 827
2020-02-01 $159,900 (11.6%) $215,544 (3.1%) 0.52 748
2020-03-01 $174,450 (10.4%) $223,067 (0.6%) 0.55 675
2020-04-01 $179,950 (5.0%) $226,554 (-2.7%) 0.56 670
2020-05-01 $189,900 (12.6%) $245,576 (8.3%) 0.58 622
2020-06-01 $196,950 (15.9%) $253,480 (12.6%) 0.58 537
2020-07-01 $192,200 (18.6%) $245,874 (13.3%) 0.55 530
2020-08-01 $179,900 (10.2%) $240,222 (11.1%) 0.51 511
2020-09-01 $182,450 (10.6%) $252,623 (18.4%) 0.52 494
2020-10-01 $164,900 (2.5%) $266,727 (29.5%) 0.47 524
2020-11-01 $167,450 (4.7%) $291,028 (38.9%) 0.48 496
2020-12-01 $159,900 (0.0%) $281,922 (37.9%) 0.47 491
2021-01-01 $168,500 (6.3%) $282,893 (40.4%) 0.50 416
2021-02-01 $187,400 (17.2%) $297,324 (37.9%) 0.54 308
2021-03-01 $185,900 (6.6%) $289,135 (29.6%) 0.52 290
2021-04-01 $179,900 (0.0%) $284,374 (25.5%) 0.48 272
2021-05-01 $190,000 (0.1%) $276,924 (12.8%) 0.50 337
2021-06-01 $193,750 (-1.6%) $256,655 (1.3%) 0.50 397
2021-07-01 $195,500 (1.7%) $257,861 (4.9%) 0.51 461
2021-08-01 $184,900 (2.8%) $248,804 (3.6%) 0.49 464
2021-09-01 $194,450 (6.6%) $249,867 (-1.1%) 0.51 495
2021-10-01 $179,900 (9.1%) $240,472 (-9.8%) 0.47 514
2021-11-01 $176,950 (5.7%) $239,391 (-17.7%) 0.47 448
2021-12-01 $168,900 (5.6%) $226,824 (-19.5%) 0.45 392
2022-01-01 $172,900 (2.6%) $237,739 (-16.0%) 0.46 301
2022-02-01 $172,900 (-7.7%) $231,436 (-22.2%) 0.44 272
2022-03-01 $172,400 (-7.3%) $232,267 (-19.7%) 0.43 250
2022-04-01 $169,900 (-5.6%) $254,511 (-10.5%) 0.40 245
Canton's median listing price for 2022-04-01 was $169,900, a difference of $-10,000 (-5.6%) versus the prior year and $-2,500 versus the prior month.

Canton's median listing price comes in at 40% of the national average.

Canton's average listing price for 2022-04-01 was $254,511, a difference of $-29,863 (-10.5%) versus the prior year and $22,244 versus the prior month.

For the 2022-04-01 period, Canton had 245 MLS listings, a difference of -5 listings (-2%) versus the prior month and -27 listings (-10%) 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 66 days 1,590 sqft
2018-02-01 62 days 1,584 sqft
2018-03-01 49 days 1,665 sqft
2018-04-01 43 days 1,680 sqft
2018-05-01 44 days 1,705 sqft
2018-06-01 43 days 1,724 sqft
2018-07-01 41 days 1,825 sqft
2018-08-01 40 days 1,838 sqft
2018-09-01 43 days 1,828 sqft
2018-10-01 48 days 1,799 sqft
2018-11-01 48 days 1,758 sqft
2018-12-01 58 days 1,748 sqft
2019-01-01 65 days 1,721 sqft
2019-02-01 49 days 1,754 sqft
2019-03-01 50 days 1,801 sqft
2019-04-01 38 days 1,853 sqft
2019-05-01 35 days 1,723 sqft
2019-06-01 39 days 1,733 sqft
2019-07-01 41 days 1,717 sqft
2019-08-01 41 days 1,757 sqft
2019-09-01 42 days 1,802 sqft
2019-10-01 39 days 1,788 sqft
2019-11-01 39 days 1,764 sqft
2019-12-01 50 days 1,725 sqft
2020-01-01 59 days 1,717 sqft
2020-02-01 39 days 1,741 sqft
2020-03-01 43 days 1,787 sqft
2020-04-01 46 days 1,785 sqft
2020-05-01 46 days 1,808 sqft
2020-06-01 37 days 1,844 sqft
2020-07-01 36 days 1,863 sqft
2020-08-01 37 days 1,787 sqft
2020-09-01 34 days 1,774 sqft
2020-10-01 29 days 1,733 sqft
2020-11-01 38 days 1,706 sqft
2020-12-01 43 days 1,715 sqft
2021-01-01 52 days 1,717 sqft
2021-02-01 43 days 1,716 sqft
2021-03-01 41 days 1,732 sqft
2021-04-01 35 days 1,746 sqft
2021-05-01 31 days 1,768 sqft
2021-06-01 25 days 1,772 sqft
2021-07-01 29 days 1,786 sqft
2021-08-01 36 days 1,715 sqft
2021-09-01 35 days 1,741 sqft
2021-10-01 35 days 1,715 sqft
2021-11-01 40 days 1,684 sqft
2021-12-01 44 days 1,660 sqft
2022-01-01 49 days 1,640 sqft
2022-02-01 45 days 1,632 sqft
2022-03-01 37 days 1,664 sqft
2022-04-01 33 days 1,664 sqft
Canton's median listing age (time on market) for 2022-04-01 was 33 days. This is -4% shorter than the same period one year ago.

Canton's median square footage for active listings during the 2022-04-01 period was 1,664 sqft. One year prior, the average listing was 1,746 sqft.