Champaign USDA Loans
CHAMPAIGN-URBANA, 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.
Champaign's 26 lenders originated 79 USDA loans during 2021. The total origination value was $11,445,000, with an average USDA loan value of $144,873.
Champaign USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Champaign
averaged
5.37%
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
5.11% and
one month ago for the week of 2022-04-08, the
average rate was 4.77%.
The average rate one year ago was 3.28%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.22%.
Champaign 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 Champaign level.
The top Champaign USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with
26 USDA loans originated. Their average total fees are
$4,060, which is $710
lower than the next largest lender,
GUARANTEED RATE, INC..
The lowest fee Champaign USDA lenders (with over 10 loans originated) are
FLAT BRANCH MORTGAGE, INC. ($4,060), .
The lowest rate Champaign USDA lenders (with over 10 loans originated) are
FLAT BRANCH MORTGAGE, INC. (3.21%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Champaign (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $152,950 (7.8%) | $206,242 (7.7%) | 0.56 | 990 |
2018-02-01 | $157,950 (12.9%) | $208,977 (7.4%) | 0.57 | 949 |
2018-03-01 | $160,000 (8.5%) | $215,772 (8.2%) | 0.55 | 938 |
2018-04-01 | $170,700 (10.2%) | $220,423 (5.4%) | 0.57 | 961 |
2018-05-01 | $174,950 (12.9%) | $219,769 (4.2%) | 0.58 | 976 |
2018-06-01 | $169,900 (6.9%) | $215,560 (0.4%) | 0.57 | 1,045 |
2018-07-01 | $167,200 (4.5%) | $213,429 (-2.1%) | 0.56 | 1,079 |
2018-08-01 | $168,450 (5.4%) | $212,874 (-1.5%) | 0.56 | 1,100 |
2018-09-01 | $169,900 (6.2%) | $212,660 (-2.9%) | 0.57 | 1,081 |
2018-10-01 | $169,900 (6.3%) | $212,752 (-1.0%) | 0.57 | 1,054 |
2018-11-01 | $169,900 (7.9%) | $210,528 (0.9%) | 0.57 | 1,037 |
2018-12-01 | $164,900 (6.5%) | $204,339 (-0.1%) | 0.56 | 1,003 |
2019-01-01 | $165,000 (7.9%) | $206,717 (0.2%) | 0.57 | 929 |
2019-02-01 | $165,000 (4.5%) | $212,754 (1.8%) | 0.55 | 946 |
2019-03-01 | $171,386 (7.1%) | $222,054 (2.9%) | 0.56 | 912 |
2019-04-01 | $182,400 (6.9%) | $230,494 (4.6%) | 0.57 | 874 |
2019-05-01 | $187,250 (7.0%) | $231,285 (5.2%) | 0.58 | 906 |
2019-06-01 | $185,000 (8.9%) | $229,626 (6.5%) | 0.57 | 952 |
2019-07-01 | $182,450 (9.1%) | $225,205 (5.5%) | 0.57 | 1,001 |
2019-08-01 | $172,757 (2.6%) | $218,764 (2.8%) | 0.54 | 1,028 |
2019-09-01 | $167,450 (-1.4%) | $212,828 (0.1%) | 0.53 | 1,048 |
2019-10-01 | $165,250 (-2.7%) | $211,500 (-0.6%) | 0.53 | 1,030 |
2019-11-01 | $165,000 (-2.9%) | $211,854 (0.6%) | 0.53 | 1,011 |
2019-12-01 | $158,200 (-4.1%) | $210,280 (2.9%) | 0.53 | 925 |
2020-01-01 | $158,900 (-3.7%) | $210,141 (1.7%) | 0.53 | 861 |
2020-02-01 | $175,000 (6.1%) | $223,638 (5.1%) | 0.56 | 790 |
2020-03-01 | $182,950 (6.8%) | $231,192 (4.1%) | 0.57 | 781 |
2020-04-01 | $184,950 (1.4%) | $232,807 (1.0%) | 0.58 | 746 |
2020-05-01 | $190,000 (1.5%) | $238,095 (2.9%) | 0.58 | 651 |
2020-06-01 | $193,900 (4.8%) | $243,106 (5.9%) | 0.57 | 604 |
2020-07-01 | $199,900 (9.6%) | $252,916 (12.3%) | 0.57 | 583 |
2020-08-01 | $195,000 (12.9%) | $248,722 (13.7%) | 0.56 | 533 |
2020-09-01 | $193,200 (15.4%) | $247,603 (16.3%) | 0.55 | 526 |
2020-10-01 | $179,900 (8.9%) | $240,291 (13.6%) | 0.51 | 492 |
2020-11-01 | $171,200 (3.8%) | $233,534 (10.2%) | 0.49 | 475 |
2020-12-01 | $180,950 (14.4%) | $232,917 (10.8%) | 0.53 | 414 |
2021-01-01 | $169,900 (6.9%) | $228,180 (8.6%) | 0.50 | 359 |
2021-02-01 | $164,950 (-5.7%) | $225,941 (1.0%) | 0.47 | 303 |
2021-03-01 | $162,450 (-11.2%) | $236,863 (2.5%) | 0.46 | 276 |
2021-04-01 | $173,700 (-6.1%) | $253,762 (9.0%) | 0.47 | 248 |
2021-05-01 | $174,900 (-8.0%) | $258,854 (8.7%) | 0.46 | 253 |
2021-06-01 | $187,400 (-3.4%) | $264,184 (8.7%) | 0.49 | 282 |
2021-07-01 | $179,450 (-10.2%) | $257,168 (1.7%) | 0.47 | 340 |
2021-08-01 | $171,200 (-12.2%) | $244,434 (-1.7%) | 0.45 | 362 |
2021-09-01 | $164,950 (-14.6%) | $246,735 (-0.4%) | 0.43 | 345 |
2021-10-01 | $159,900 (-11.1%) | $243,325 (1.3%) | 0.42 | 364 |
2021-11-01 | $152,400 (-11.0%) | $251,433 (7.7%) | 0.40 | 329 |
2021-12-01 | $149,900 (-17.2%) | $247,837 (6.4%) | 0.40 | 282 |
2022-01-01 | $139,900 (-17.7%) | $249,046 (9.1%) | 0.37 | 240 |
2022-02-01 | $147,000 (-10.9%) | $259,455 (14.8%) | 0.37 | 213 |
2022-03-01 | $164,900 (1.5%) | $254,325 (7.4%) | 0.41 | 189 |
2022-04-01 | $165,000 (-5.0%) | $250,968 (-1.1%) | 0.39 | 198 |
Champaign's median listing price comes in at 39% of the national average.
Champaign's average listing price for 2022-04-01 was $250,968, a difference of $-2,794 (-1.1%) versus the prior year and $-3,357 versus the prior month.
For the 2022-04-01 period, Champaign had 198 MLS listings, a difference of 9 listings (5%) versus the prior month and -50 listings (-20%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Champaign (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 120 days | 1,648 sqft |
2018-02-01 | 118 days | 1,649 sqft |
2018-03-01 | 94 days | 1,676 sqft |
2018-04-01 | 66 days | 1,719 sqft |
2018-05-01 | 69 days | 1,755 sqft |
2018-06-01 | 68 days | 1,750 sqft |
2018-07-01 | 69 days | 1,744 sqft |
2018-08-01 | 74 days | 1,754 sqft |
2018-09-01 | 79 days | 1,745 sqft |
2018-10-01 | 85 days | 1,745 sqft |
2018-11-01 | 94 days | 1,731 sqft |
2018-12-01 | 107 days | 1,714 sqft |
2019-01-01 | 121 days | 1,677 sqft |
2019-02-01 | 116 days | 1,680 sqft |
2019-03-01 | 114 days | 1,710 sqft |
2019-04-01 | 78 days | 1,772 sqft |
2019-05-01 | 67 days | 1,790 sqft |
2019-06-01 | 72 days | 1,782 sqft |
2019-07-01 | 72 days | 1,790 sqft |
2019-08-01 | 72 days | 1,742 sqft |
2019-09-01 | 74 days | 1,719 sqft |
2019-10-01 | 79 days | 1,722 sqft |
2019-11-01 | 92 days | 1,735 sqft |
2019-12-01 | 103 days | 1,716 sqft |
2020-01-01 | 116 days | 1,712 sqft |
2020-02-01 | 117 days | 1,746 sqft |
2020-03-01 | 95 days | 1,787 sqft |
2020-04-01 | 84 days | 1,796 sqft |
2020-05-01 | 87 days | 1,800 sqft |
2020-06-01 | 86 days | 1,825 sqft |
2020-07-01 | 71 days | 1,851 sqft |
2020-08-01 | 64 days | 1,819 sqft |
2020-09-01 | 65 days | 1,786 sqft |
2020-10-01 | 71 days | 1,736 sqft |
2020-11-01 | 69 days | 1,712 sqft |
2020-12-01 | 80 days | 1,741 sqft |
2021-01-01 | 91 days | 1,685 sqft |
2021-02-01 | 83 days | 1,567 sqft |
2021-03-01 | 68 days | 1,589 sqft |
2021-04-01 | 59 days | 1,630 sqft |
2021-05-01 | 48 days | 1,660 sqft |
2021-06-01 | 44 days | 1,689 sqft |
2021-07-01 | 43 days | 1,676 sqft |
2021-08-01 | 45 days | 1,597 sqft |
2021-09-01 | 50 days | 1,549 sqft |
2021-10-01 | 50 days | 1,523 sqft |
2021-11-01 | 56 days | 1,513 sqft |
2021-12-01 | 62 days | 1,484 sqft |
2022-01-01 | 78 days | 1,450 sqft |
2022-02-01 | 71 days | 1,500 sqft |
2022-03-01 | 50 days | 1,577 sqft |
2022-04-01 | 41 days | 1,544 sqft |
Champaign's median square footage for active listings during the 2022-04-01 period was 1,544 sqft. One year prior, the average listing was 1,630 sqft.