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 19 lenders originated 51 USDA loans during 2022. The total origination value was $7,015,000, with an average USDA loan value of $137,549.
Champaign USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Champaign
averaged
6.21%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
Champaign's average USDA mortgage closing costs are $3,771.
The average rate for the prior week (2023-05-19) was
6.16% and
one month ago for the week of 2023-04-21, the
average rate was 6.26%.
The average rate one year ago was 4.98%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.41%.
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 | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
|---|---|---|---|
| FLAT BRANCH MORTGAGE, INC. | 20 | 5.10% | $4,347 |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | 6 | 5.29% | $4,002 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 3 | 4.24% | $4,656 |
| CROSSCOUNTRY MORTGAGE, LLC | 2 | 4.63% | $4,805 |
| FIRST STATE MORTGAGE SERVICES, LLC | 2 | 3.94% | $4,729 |
| Midland States Bank | 2 | 5.69% | $5,043 |
| GUARANTEED RATE, INC. | 2 | 4.46% | $8,603 |
| Marine Bank | 2 | 4.00% | $3,596 |
| Flanagan State Bank | 1 | 4.63% | $11,651 |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | 1 | 4.25% | $3,610 |
| PENNYMAC LOAN SERVICES, LLC | 1 | 2.75% | $6,050 |
| FINANCE OF AMERICA MORTGAGE LLC | 1 | 4.13% | $3,923 |
| BROKER SOLUTIONS, INC. | 1 | 4.00% | $4,794 |
| Busey Bank | 1 | 4.63% | $3,424 |
| Carrington Mortgage Services, LLC | 1 | 3.88% | $7,275 |
| CHURCHILL MORTGAGE CORPORATION | 1 | 3.62% | $4,548 |
| ENDEAVOR CAPITAL, LLC. | 1 | 5.38% | $5,950 |
| FCB Banks | 1 | 4.38% | $3,973 |
| AMERICAN PACIFIC MORTGAGE CORPORATION | 1 | 6.25% | $7,698 |
The top Champaign USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with
20 USDA loans originated. Their average total fees are
$4,347, which is $345
higher than the next largest lender,
PRIMELENDING, A PLAINSCAPITAL COMPANY.
The lowest fee Champaign USDA lenders (with over 10 loans originated) are
FLAT BRANCH MORTGAGE, INC. ($4,347), .
The lowest rate Champaign USDA lenders (with over 10 loans originated) are
FLAT BRANCH MORTGAGE, INC. (5.10%), .
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 | $161,200 (8.0%) | $213,470 (8.3%) | 0.60 | 913 |
| 2018-02-01 | $169,900 (16.0%) | $216,901 (8.6%) | 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%) | $230,283 (4.7%) | 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 (-2.1%) | 0.58 | 977 |
| 2018-08-01 | $177,250 (3.7%) | $222,468 (-1.2%) | 0.59 | 1,000 |
| 2018-09-01 | $175,750 (3.4%) | $222,799 (-2.4%) | 0.59 | 990 |
| 2018-10-01 | $179,900 (8.1%) | $221,569 (-0.7%) | 0.61 | 967 |
| 2018-11-01 | $178,575 (9.9%) | $219,570 (1.8%) | 0.61 | 949 |
| 2018-12-01 | $175,000 (9.4%) | $213,556 (0.0%) | 0.60 | 912 |
| 2019-01-01 | $177,000 (9.8%) | $217,063 (1.7%) | 0.61 | 830 |
| 2019-02-01 | $178,450 (5.0%) | $224,928 (3.7%) | 0.60 | 847 |
| 2019-03-01 | $185,900 (3.3%) | $235,040 (3.4%) | 0.62 | 822 |
| 2019-04-01 | $204,900 (12.3%) | $241,470 (4.7%) | 0.65 | 811 |
| 2019-05-01 | $199,400 (5.0%) | $240,412 (4.4%) | 0.62 | 842 |
| 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 | $185,000 (4.4%) | $228,964 (2.9%) | 0.58 | 957 |
| 2019-09-01 | $180,675 (2.8%) | $222,156 (-0.3%) | 0.57 | 942 |
| 2019-10-01 | $175,000 (-2.7%) | $218,045 (-1.6%) | 0.56 | 958 |
| 2019-11-01 | $174,900 (-2.1%) | $216,430 (-1.4%) | 0.57 | 925 |
| 2019-12-01 | $169,450 (-3.2%) | $218,401 (2.3%) | 0.57 | 842 |
| 2020-01-01 | $172,450 (-2.6%) | $217,599 (0.3%) | 0.58 | 790 |
| 2020-02-01 | $185,900 (4.2%) | $232,985 (3.6%) | 0.61 | 729 |
| 2020-03-01 | $194,900 (4.8%) | $241,572 (2.8%) | 0.61 | 721 |
| 2020-04-01 | $196,225 (-4.2%) | $243,614 (0.9%) | 0.61 | 688 |
| 2020-05-01 | $207,000 (3.8%) | $247,653 (3.0%) | 0.63 | 601 |
| 2020-06-01 | $203,200 (4.2%) | $251,733 (5.2%) | 0.60 | 555 |
| 2020-07-01 | $223,650 (16.9%) | $263,742 (12.8%) | 0.65 | 532 |
| 2020-08-01 | $214,900 (16.2%) | $258,651 (13.0%) | 0.62 | 485 |
| 2020-09-01 | $212,400 (17.6%) | $256,440 (15.4%) | 0.61 | 481 |
| 2020-10-01 | $192,900 (10.2%) | $247,854 (13.7%) | 0.55 | 446 |
| 2020-11-01 | $185,625 (6.1%) | $241,455 (11.6%) | 0.54 | 426 |
| 2020-12-01 | $189,975 (12.1%) | $242,481 (11.0%) | 0.57 | 384 |
| 2021-01-01 | $189,900 (10.1%) | $240,242 (10.4%) | 0.57 | 328 |
| 2021-02-01 | $177,500 (-4.5%) | $239,952 (3.0%) | 0.52 | 271 |
| 2021-03-01 | $181,450 (-6.9%) | $251,157 (4.0%) | 0.51 | 248 |
| 2021-04-01 | $186,225 (-5.1%) | $262,471 (7.7%) | 0.50 | 232 |
| 2021-05-01 | $184,900 (-10.7%) | $268,244 (8.3%) | 0.49 | 246 |
| 2021-06-01 | $192,450 (-5.3%) | $271,989 (8.1%) | 0.51 | 268 |
| 2021-07-01 | $185,000 (-17.3%) | $263,789 (0.0%) | 0.49 | 331 |
| 2021-08-01 | $174,675 (-18.7%) | $250,858 (-3.0%) | 0.47 | 339 |
| 2021-09-01 | $164,950 (-22.3%) | $251,077 (-2.1%) | 0.44 | 330 |
| 2021-10-01 | $159,950 (-17.1%) | $248,501 (0.3%) | 0.43 | 341 |
| 2021-11-01 | $152,225 (-18.0%) | $256,465 (6.2%) | 0.41 | 305 |
| 2021-12-01 | $151,950 (-20.0%) | $253,663 (4.6%) | 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 (-7.7%) | $258,720 (3.0%) | 0.42 | 172 |
| 2022-04-01 | $165,000 (-11.4%) | $261,718 (-0.3%) | 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 (7.9%) | $250,786 (0.0%) | 0.44 | 338 |
| 2022-09-01 | $199,450 (20.9%) | $260,273 (3.7%) | 0.47 | 337 |
| 2022-10-01 | $199,900 (25.0%) | $264,649 (6.5%) | 0.47 | 328 |
| 2022-11-01 | $202,400 (33.0%) | $258,927 (1.0%) | 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 |
Champaign's median listing price comes in at 64% of the national average.
Champaign's average listing price for 2023-04-01 was $344,734, a difference of $83,016 (31.7%) versus the prior year and $12,601 versus the prior month.
For the 2023-04-01 period, Champaign had 184 MLS listings, a difference of 9 listings (5%) versus the prior month and -6 listings (-3%) 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 | 118 days | 1,654 sqft |
| 2018-02-01 | 120 days | 1,666 sqft |
| 2018-03-01 | 92 days | 1,715 sqft |
| 2018-04-01 | 65 days | 1,760 sqft |
| 2018-05-01 | 66 days | 1,800 sqft |
| 2018-06-01 | 66 days | 1,782 sqft |
| 2018-07-01 | 69 days | 1,768 sqft |
| 2018-08-01 | 73 days | 1,781 sqft |
| 2018-09-01 | 78 days | 1,764 sqft |
| 2018-10-01 | 85 days | 1,770 sqft |
| 2018-11-01 | 94 days | 1,757 sqft |
| 2018-12-01 | 106 days | 1,736 sqft |
| 2019-01-01 | 120 days | 1,712 sqft |
| 2019-02-01 | 115 days | 1,719 sqft |
| 2019-03-01 | 113 days | 1,740 sqft |
| 2019-04-01 | 74 days | 1,803 sqft |
| 2019-05-01 | 64 days | 1,825 sqft |
| 2019-06-01 | 68 days | 1,800 sqft |
| 2019-07-01 | 71 days | 1,823 sqft |
| 2019-08-01 | 74 days | 1,786 sqft |
| 2019-09-01 | 80 days | 1,767 sqft |
| 2019-10-01 | 84 days | 1,744 sqft |
| 2019-11-01 | 96 days | 1,743 sqft |
| 2019-12-01 | 110 days | 1,743 sqft |
| 2020-01-01 | 116 days | 1,741 sqft |
| 2020-02-01 | 117 days | 1,782 sqft |
| 2020-03-01 | 87 days | 1,831 sqft |
| 2020-04-01 | 81 days | 1,859 sqft |
| 2020-05-01 | 85 days | 1,833 sqft |
| 2020-06-01 | 81 days | 1,849 sqft |
| 2020-07-01 | 67 days | 1,888 sqft |
| 2020-08-01 | 61 days | 1,842 sqft |
| 2020-09-01 | 65 days | 1,845 sqft |
| 2020-10-01 | 71 days | 1,776 sqft |
| 2020-11-01 | 66 days | 1,749 sqft |
| 2020-12-01 | 76 days | 1,763 sqft |
| 2021-01-01 | 86 days | 1,704 sqft |
| 2021-02-01 | 80 days | 1,676 sqft |
| 2021-03-01 | 62 days | 1,671 sqft |
| 2021-04-01 | 54 days | 1,707 sqft |
| 2021-05-01 | 46 days | 1,705 sqft |
| 2021-06-01 | 45 days | 1,710 sqft |
| 2021-07-01 | 43 days | 1,681 sqft |
| 2021-08-01 | 47 days | 1,583 sqft |
| 2021-09-01 | 47 days | 1,536 sqft |
| 2021-10-01 | 47 days | 1,518 sqft |
| 2021-11-01 | 58 days | 1,498 sqft |
| 2021-12-01 | 66 days | 1,467 sqft |
| 2022-01-01 | 82 days | 1,442 sqft |
| 2022-02-01 | 67 days | 1,496 sqft |
| 2022-03-01 | 48 days | 1,591 sqft |
| 2022-04-01 | 38 days | 1,549 sqft |
| 2022-05-01 | 36 days | 1,533 sqft |
| 2022-06-01 | 36 days | 1,603 sqft |
| 2022-07-01 | 37 days | 1,636 sqft |
| 2022-08-01 | 42 days | 1,665 sqft |
| 2022-09-01 | 49 days | 1,729 sqft |
| 2022-10-01 | 52 days | 1,713 sqft |
| 2022-11-01 | 59 days | 1,728 sqft |
| 2022-12-01 | 73 days | 1,711 sqft |
| 2023-01-01 | 80 days | 1,728 sqft |
| 2023-02-01 | 70 days | 1,770 sqft |
| 2023-03-01 | 57 days | 1,867 sqft |
| 2023-04-01 | 39 days | 1,862 sqft |
Champaign's median square footage for active listings during the 2023-04-01 period was 1,862 sqft. One year prior, the average listing was 1,549 sqft.