Champaign USDA Loan Rates, Closing Costs & Stats
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 11 lenders originated 22 USDA loans during 2023. The total origination value was $3,040,000, with an average USDA loan value of $138,182.
Champaign USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Champaign
averaged
6.89%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Champaign's average USDA mortgage closing costs are $3,829.
The average rate for the prior week (2024-04-12) was
6.75% and
one month ago for the week of 2024-03-15, the
average rate was 6.63%.
The average rate one year ago was 6.27%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.76%.
Champaign 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 Champaign level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| FLAT BRANCH MORTGAGE, INC. | 10 | 7.13% | $4,945 |
| Busey Bank | 2 | 6.38% | $5,169 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.25% | $6,141 |
| First Mid Bank & Trust | 1 | 5.50% | $3,767 |
| FIRST STATE MORTGAGE SERVICES, LLC | 1 | 6.13% | $4,893 |
| Flagstar Bank, FSB | 1 | 7.22% | $3,913 |
| Marine Bank | 1 | 5.88% | $3,900 |
| Petefish, Skiles & Co. | 1 | 7.13% | $2,979 |
| AXIA FINANCIAL, LLC | 1 | 6.75% | $3,817 |
| ROSS MORTGAGE CORPORATION | 1 | 6.88% | $5,512 |
| BROKER SOLUTIONS, INC. | 1 | 6.10% | $3,968 |
The top Champaign USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with
10 USDA loans originated. Their average total fees are
$4,945, which is $224
lower than the next largest lender,
Busey Bank.
The lowest fee Champaign USDA lenders (with over 10 loans originated) are
FLAT BRANCH MORTGAGE, INC. ($4,945), .
The lowest rate Champaign USDA lenders (with over 10 loans originated) are
FLAT BRANCH MORTGAGE, INC. (7.13%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Champaign (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 | $161,075 (8.0%) | $213,404 (8.3%) | 0.60 | 913 |
| 2018-02-01 | $169,900 (16.0%) | $216,965 (8.7%) | 0.62 | 867 |
| 2018-03-01 | $179,900 (14.3%) | $227,353 (10.1%) | 0.63 | 846 |
| 2018-04-01 | $182,450 (12.3%) | $230,719 (6.2%) | 0.62 | 869 |
| 2018-05-01 | $189,900 (16.9%) | $229,921 (4.6%) | 0.63 | 890 |
| 2018-06-01 | $179,900 (9.1%) | $224,275 (0.4%) | 0.60 | 951 |
| 2018-07-01 | $175,000 (3.0%) | $222,682 (-1.6%) | 0.58 | 977 |
| 2018-08-01 | $177,250 (4.2%) | $222,468 (-0.7%) | 0.59 | 1,000 |
| 2018-09-01 | $175,750 (3.4%) | $222,799 (-1.8%) | 0.59 | 990 |
| 2018-10-01 | $179,800 (8.0%) | $221,632 (0.0%) | 0.61 | 965 |
| 2018-11-01 | $178,575 (9.9%) | $219,700 (2.0%) | 0.61 | 947 |
| 2018-12-01 | $175,000 (9.4%) | $213,694 (0.6%) | 0.60 | 910 |
| 2019-01-01 | $177,000 (9.9%) | $217,221 (1.8%) | 0.61 | 828 |
| 2019-02-01 | $177,950 (4.7%) | $225,021 (3.7%) | 0.60 | 846 |
| 2019-03-01 | $188,471 (4.8%) | $233,677 (2.8%) | 0.62 | 823 |
| 2019-04-01 | $204,900 (12.3%) | $241,521 (4.7%) | 0.65 | 801 |
| 2019-05-01 | $199,400 (5.0%) | $240,457 (4.6%) | 0.62 | 841 |
| 2019-06-01 | $195,000 (8.4%) | $239,200 (6.7%) | 0.61 | 883 |
| 2019-07-01 | $191,400 (9.4%) | $233,847 (5.0%) | 0.60 | 933 |
| 2019-08-01 | $182,245 (2.8%) | $227,226 (2.1%) | 0.58 | 953 |
| 2019-09-01 | $178,114 (1.3%) | $221,285 (-0.7%) | 0.57 | 960 |
| 2019-10-01 | $175,909 (-2.2%) | $217,866 (-1.7%) | 0.57 | 963 |
| 2019-11-01 | $174,900 (-2.1%) | $216,571 (-1.4%) | 0.57 | 926 |
| 2019-12-01 | $169,675 (-3.0%) | $218,550 (2.3%) | 0.57 | 843 |
| 2020-01-01 | $173,700 (-1.9%) | $217,755 (0.3%) | 0.58 | 791 |
| 2020-02-01 | $185,900 (4.5%) | $233,138 (3.6%) | 0.61 | 730 |
| 2020-03-01 | $194,900 (3.4%) | $241,694 (3.4%) | 0.61 | 722 |
| 2020-04-01 | $197,675 (-3.5%) | $243,735 (0.9%) | 0.62 | 689 |
| 2020-05-01 | $209,000 (4.8%) | $247,751 (3.0%) | 0.64 | 602 |
| 2020-06-01 | $203,425 (4.3%) | $251,729 (5.2%) | 0.60 | 555 |
| 2020-07-01 | $223,650 (16.9%) | $263,742 (12.8%) | 0.65 | 532 |
| 2020-08-01 | $216,200 (18.6%) | $258,680 (13.8%) | 0.62 | 485 |
| 2020-09-01 | $212,400 (19.3%) | $256,440 (15.9%) | 0.61 | 481 |
| 2020-10-01 | $192,900 (9.7%) | $247,854 (13.8%) | 0.55 | 446 |
| 2020-11-01 | $185,625 (6.1%) | $240,906 (11.2%) | 0.54 | 426 |
| 2020-12-01 | $189,975 (12.0%) | $241,779 (10.6%) | 0.57 | 383 |
| 2021-01-01 | $189,900 (9.3%) | $240,242 (10.3%) | 0.57 | 328 |
| 2021-02-01 | $177,500 (-4.5%) | $239,952 (2.9%) | 0.52 | 271 |
| 2021-03-01 | $179,425 (-7.9%) | $251,307 (4.0%) | 0.51 | 247 |
| 2021-04-01 | $185,000 (-6.4%) | $262,669 (7.8%) | 0.50 | 231 |
| 2021-05-01 | $184,900 (-11.5%) | $268,471 (8.4%) | 0.49 | 245 |
| 2021-06-01 | $192,450 (-5.4%) | $272,198 (8.1%) | 0.51 | 267 |
| 2021-07-01 | $185,000 (-17.3%) | $263,952 (0.1%) | 0.49 | 330 |
| 2021-08-01 | $174,450 (-19.3%) | $250,983 (-3.0%) | 0.47 | 338 |
| 2021-09-01 | $164,300 (-22.7%) | $250,038 (-2.5%) | 0.44 | 328 |
| 2021-10-01 | $159,900 (-17.1%) | $247,501 (-0.1%) | 0.43 | 341 |
| 2021-11-01 | $152,225 (-18.0%) | $256,465 (6.5%) | 0.41 | 305 |
| 2021-12-01 | $151,950 (-20.0%) | $253,663 (4.9%) | 0.41 | 254 |
| 2022-01-01 | $140,950 (-25.8%) | $252,576 (5.1%) | 0.38 | 216 |
| 2022-02-01 | $152,050 (-14.3%) | $265,756 (10.8%) | 0.40 | 190 |
| 2022-03-01 | $167,450 (-6.7%) | $258,720 (3.0%) | 0.42 | 172 |
| 2022-04-01 | $165,000 (-10.8%) | $261,718 (-0.4%) | 0.39 | 190 |
| 2022-05-01 | $175,000 (-5.4%) | $246,611 (-8.1%) | 0.40 | 222 |
| 2022-06-01 | $184,450 (-4.2%) | $260,409 (-4.3%) | 0.41 | 254 |
| 2022-07-01 | $187,500 (1.4%) | $253,339 (-4.0%) | 0.42 | 328 |
| 2022-08-01 | $188,500 (8.1%) | $250,786 (-0.1%) | 0.44 | 338 |
| 2022-09-01 | $199,450 (21.4%) | $260,273 (4.1%) | 0.47 | 337 |
| 2022-10-01 | $199,900 (25.0%) | $264,649 (6.9%) | 0.47 | 328 |
| 2022-11-01 | $202,450 (33.0%) | $260,188 (1.5%) | 0.49 | 307 |
| 2022-12-01 | $203,500 (33.9%) | $263,769 (4.0%) | 0.50 | 268 |
| 2023-01-01 | $204,325 (45.0%) | $272,906 (8.1%) | 0.51 | 229 |
| 2023-02-01 | $224,450 (47.6%) | $300,491 (13.1%) | 0.54 | 194 |
| 2023-03-01 | $256,875 (53.4%) | $332,133 (28.4%) | 0.61 | 175 |
| 2023-04-01 | $274,900 (66.6%) | $344,734 (31.7%) | 0.64 | 184 |
| 2023-05-01 | $293,450 (67.7%) | $352,714 (43.0%) | 0.67 | 184 |
| 2023-06-01 | $281,175 (52.4%) | $345,006 (32.5%) | 0.63 | 214 |
| 2023-07-01 | $284,900 (52.0%) | $349,833 (38.1%) | 0.65 | 219 |
| 2023-08-01 | $278,725 (47.9%) | $353,589 (41.0%) | 0.64 | 242 |
| 2023-09-01 | $275,000 (37.9%) | $351,061 (34.9%) | 0.64 | 278 |
| 2023-10-01 | $256,225 (28.2%) | $336,731 (27.2%) | 0.60 | 279 |
| 2023-11-01 | $248,925 (23.0%) | $323,231 (24.2%) | 0.59 | 286 |
| 2023-12-01 | $237,900 (16.9%) | $312,523 (18.5%) | 0.58 | 277 |
| 2024-01-01 | $239,675 (17.3%) | $320,228 (17.3%) | 0.59 | 248 |
| 2024-02-01 | $279,900 (24.7%) | $341,213 (13.6%) | 0.67 | 215 |
| 2024-03-01 | $294,900 (14.8%) | $369,535 (11.3%) | 0.69 | 196 |
Champaign's median listing price comes in at 69% of the national average.
Champaign's average listing price for 2024-03-01 was $369,535, a difference of $37,402 (11.3%) versus the prior year and $28,322 versus the prior month.
For the 2024-03-01 period, Champaign had 196 MLS listings, a difference of -19 listings (-9%) versus the prior month and 21 listings (12%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Champaign (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 109 days | 1,654 sqft |
| 2018-02-01 | 108 days | 1,666 sqft |
| 2018-03-01 | 78 days | 1,715 sqft |
| 2018-04-01 | 59 days | 1,760 sqft |
| 2018-05-01 | 61 days | 1,800 sqft |
| 2018-06-01 | 62 days | 1,782 sqft |
| 2018-07-01 | 65 days | 1,768 sqft |
| 2018-08-01 | 68 days | 1,781 sqft |
| 2018-09-01 | 72 days | 1,764 sqft |
| 2018-10-01 | 80 days | 1,770 sqft |
| 2018-11-01 | 88 days | 1,757 sqft |
| 2018-12-01 | 100 days | 1,736 sqft |
| 2019-01-01 | 113 days | 1,712 sqft |
| 2019-02-01 | 107 days | 1,717 sqft |
| 2019-03-01 | 90 days | 1,743 sqft |
| 2019-04-01 | 67 days | 1,802 sqft |
| 2019-05-01 | 59 days | 1,822 sqft |
| 2019-06-01 | 65 days | 1,800 sqft |
| 2019-07-01 | 67 days | 1,824 sqft |
| 2019-08-01 | 68 days | 1,776 sqft |
| 2019-09-01 | 72 days | 1,751 sqft |
| 2019-10-01 | 77 days | 1,746 sqft |
| 2019-11-01 | 92 days | 1,744 sqft |
| 2019-12-01 | 104 days | 1,744 sqft |
| 2020-01-01 | 110 days | 1,742 sqft |
| 2020-02-01 | 113 days | 1,783 sqft |
| 2020-03-01 | 75 days | 1,833 sqft |
| 2020-04-01 | 74 days | 1,861 sqft |
| 2020-05-01 | 78 days | 1,835 sqft |
| 2020-06-01 | 74 days | 1,851 sqft |
| 2020-07-01 | 61 days | 1,888 sqft |
| 2020-08-01 | 58 days | 1,842 sqft |
| 2020-09-01 | 61 days | 1,845 sqft |
| 2020-10-01 | 64 days | 1,776 sqft |
| 2020-11-01 | 60 days | 1,749 sqft |
| 2020-12-01 | 72 days | 1,762 sqft |
| 2021-01-01 | 78 days | 1,704 sqft |
| 2021-02-01 | 68 days | 1,676 sqft |
| 2021-03-01 | 58 days | 1,670 sqft |
| 2021-04-01 | 47 days | 1,700 sqft |
| 2021-05-01 | 41 days | 1,700 sqft |
| 2021-06-01 | 41 days | 1,708 sqft |
| 2021-07-01 | 43 days | 1,678 sqft |
| 2021-08-01 | 45 days | 1,581 sqft |
| 2021-09-01 | 46 days | 1,533 sqft |
| 2021-10-01 | 46 days | 1,517 sqft |
| 2021-11-01 | 57 days | 1,498 sqft |
| 2021-12-01 | 64 days | 1,467 sqft |
| 2022-01-01 | 74 days | 1,442 sqft |
| 2022-02-01 | 62 days | 1,495 sqft |
| 2022-03-01 | 43 days | 1,591 sqft |
| 2022-04-01 | 38 days | 1,549 sqft |
| 2022-05-01 | 34 days | 1,533 sqft |
| 2022-06-01 | 35 days | 1,603 sqft |
| 2022-07-01 | 37 days | 1,636 sqft |
| 2022-08-01 | 40 days | 1,665 sqft |
| 2022-09-01 | 48 days | 1,729 sqft |
| 2022-10-01 | 51 days | 1,713 sqft |
| 2022-11-01 | 59 days | 1,728 sqft |
| 2022-12-01 | 71 days | 1,711 sqft |
| 2023-01-01 | 77 days | 1,728 sqft |
| 2023-02-01 | 68 days | 1,770 sqft |
| 2023-03-01 | 55 days | 1,867 sqft |
| 2023-04-01 | 38 days | 1,862 sqft |
| 2023-05-01 | 39 days | 1,867 sqft |
| 2023-06-01 | 43 days | 1,812 sqft |
| 2023-07-01 | 43 days | 1,813 sqft |
| 2023-08-01 | 44 days | 1,806 sqft |
| 2023-09-01 | 44 days | 1,818 sqft |
| 2023-10-01 | 48 days | 1,797 sqft |
| 2023-11-01 | 50 days | 1,789 sqft |
| 2023-12-01 | 57 days | 1,745 sqft |
| 2024-01-01 | 67 days | 1,739 sqft |
| 2024-02-01 | 58 days | 1,783 sqft |
| 2024-03-01 | 46 days | 1,827 sqft |
Champaign's median square footage for active listings during the 2024-03-01 period was 1,827 sqft. One year prior, the average listing was 1,867 sqft.