Canton USDA Loan Rates, Closing Costs & Stats

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 23 lenders originated 51 USDA loans during 2022. The total origination value was $7,995,000, with an average USDA loan value of $156,765.

Canton USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Canton averaged 0.07% for the week of 2024-02-23, compared to the national average (all USDA variants) of 0% for the same period.

Canton's average USDA mortgage closing costs are $4,511.

The average rate for the prior week (2024-02-16) was 6.65% and one month ago for the week of 2024-01-19, the average rate was 6.33%.

The average rate one year ago was 6.13%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.46%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
CROSSCOUNTRY MORTGAGE, LLC 7 5.54% $3,048
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 5.13% $3,279
The Huntington National Bank 4 5.56% $5,307
EUSTIS AND AMERICAN MORTGAGE COMPANY 4 5.19% $5,058
HOME POINT FINANCIAL CORPORATION 3 4.62% $4,590
PENNYMAC LOAN SERVICES, LLC 3 3.37% $6,503
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 4.08% $5,667
ABSOLUTE HOME MORTGAGE CORPORATION 2 4.00% $10,624
AMERIFIRST FINANCIAL CORPORATION 2 5.88% $5,382
GUARANTEED RATE, INC. 2 5.06% $6,439
Republic State Mortgage Co. 2 5.50% $3,603
UNION HOME MORTGAGE CORP. 2 6.13% $6,909
LOANDEPOT.COM, LLC 1 3.75% $4,258
MYCUMORTGAGE, LLC 1 5.50% $4,768
Nations Lending Corporation 1 7.75% $8,980
First Guaranty Mortgage Corporation 1 4.25% $4,028
POLARIS HOME FUNDING CORP. 1 5.63% $9,397
Fifth Third Bank 1 5.00% $5,179
RELIANCE FIRST CAPITAL, LLC 1 3.75% $7,582
CALIBER HOME LOANS, INC. 1 6.25% $6,762
SUCCESS MORTGAGE PARTNERS, INC. 1 5.63% $6,907
HOMESIDE FINANCIAL, LLC 1 4.00% $5,520
Hometown Lenders, Inc. 1 3.88% $10,303

The top Canton USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 7 USDA loans originated. Their average total fees are $3,048, which is $231 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Canton USDA lenders (with over 10 loans originated) are .

The lowest rate Canton USDA lenders (with over 10 loans originated) are .


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
Canton's median listing price for 2023-12-01 was $230,000, a difference of $40,000 (21.1%) versus the prior year and $-5,000 versus the prior month.

Canton's median listing price comes in at 56% of the national average.

Canton's average listing price for 2023-12-01 was $286,014, a difference of $12,189 (4.5%) versus the prior year and $-4,252 versus the prior month.

For the 2023-12-01 period, Canton had 554 MLS listings, a difference of -18 listings (-3%) versus the prior month and 64 listings (13%) 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 1,652 sqft
2018-05-01 41 days 1,681 sqft
2018-06-01 40 days 1,720 sqft
2018-07-01 41 days 1,807 sqft
2018-08-01 40 days 1,818 sqft
2018-09-01 43 days 1,803 sqft
2018-10-01 48 days 1,772 sqft
2018-11-01 47 days 1,731 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 1,695 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 1,777 sqft
2020-04-01 48 days 1,784 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 1,763 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 1,754 sqft
2023-09-01 36 days 1,696 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
Canton's median listing age (time on market) for 2023-12-01 was 44 days. This is -6% shorter than the same period one year ago.

Canton's median square footage for active listings during the 2023-12-01 period was 1,650 sqft. One year prior, the average listing was 1,623 sqft.