Cincinnati USDA Loan Rates, Closing Costs & Stats

CINCINNATI, OH-KY-IN

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.

Cincinnati's 71 lenders originated 391 USDA loans during 2022. The total origination value was $75,455,000, with an average USDA loan value of $192,980.

Cincinnati USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Cincinnati averaged 6.41% for the week of 2023-12-01, compared to the national average (all USDA variants) of 6.997% for the same period.

Cincinnati's average USDA mortgage closing costs are $5,092.

The average rate for the prior week (2023-11-24) was 6.92% and one month ago for the week of 2023-10-27, the average rate was 7.07%.

The average rate one year ago was 6.29%.

For refis of the same type during the week of 2023-12-01, the average rate was 5.62%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Cincinnati 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 Cincinnati level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
AMERICAN PACIFIC MORTGAGE CORPORATION 35 5.23% $6,559
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 23 5.14% $6,767
CROSSCOUNTRY MORTGAGE, LLC 23 5.69% $6,950
CALIBER HOME LOANS, INC. 23 4.41% $5,415
NATIONS RELIABLE LENDING, LLC 21 5.15% $6,533
UNION HOME MORTGAGE CORP. 20 4.74% $6,094
STOCKTON MORTGAGE CORPORATION 18 5.02% $6,838
AMERICAN MORTGAGE SERVICE COMPANY 17 4.85% $5,287
Paramount Residential Mortgage Group, Inc. 13 5.01% $7,496
RAPID MORTGAGE COMPANY 12 5.32% $7,364
PRIMELENDING, A PLAINSCAPITAL COMPANY 12 5.18% $7,012
DAS Acquisition Company, LLC 11 4.76% $6,476
POLARIS HOME FUNDING CORP. 11 4.69% $7,734
NVR Mortgage Finance, Inc. 8 3.55% $9,067
T2 FINANCIAL LLC 8 5.72% $9,702
BAYSHORE MORTGAGE FUNDING, LLC 8 5.00% $7,778
UNITED WHOLESALE MORTGAGE, LLC 6 5.28% $6,039
VICTORY MORTGAGE, L.L.C. 6 3.67% $5,707
THRIVE MORTGAGE, LLC 6 4.67% $6,400
Prosperity Home Mortgage, LLC 5 4.73% $4,936
Cincinnati Federal 5 4.50% $5,103
Fifth Third Bank 5 4.75% $5,952
Guardian Savings Bank, A Federal Savings Bank 5 4.08% $5,071
The Park National Bank 4 4.25% $6,660
ENVOY MORTGAGE, LTD 4 5.09% $7,004
AMERIFIRST FINANCIAL CORPORATION 4 4.53% $7,142
RUOFF MORTGAGE COMPANY, INC. 4 4.38% $4,100
U.S. Bank 3 4.58% $5,075
Bank of England 3 5.58% $7,792
SUCCESS MORTGAGE PARTNERS, INC. 3 5.54% $6,471
CARDINAL FINANCIAL 3 4.88% $9,026
Heartland Bank 3 3.88% $5,347
MID AMERICA MORTGAGE, INC. 3 3.92% $3,308
RiverHills Bank 3 4.50% $5,243
FIRST COMMUNITY MORTGAGE, INC. 3 4.54% $6,522
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.81% $6,148
First Financial Bank 2 4.63% $5,038
Gateway First Bank 2 6.69% $4,618
GUARANTEED RATE AFFINITY, LLC 2 5.44% $7,123
GUARANTEED RATE, INC. 2 4.75% $6,775
HOME POINT FINANCIAL CORPORATION 2 3.94% $5,014
Citizens Bank 2 4.38% $7,603
Union Savings Bank 2 4.56% $6,387
UNITED MORTGAGE CORP 2 5.19% $9,097
NEWREZ LLC 1 7.13% $5,695
NFM, INC. 1 3.63% $8,218
Northpointe Bank 1 5.75% $5,283
Equity Prime Mortgage LLC 1 6.25% $10,469
MOVEMENT MORTGAGE, LLC 1 3.88% $8,295
Peoples Exchange Bank 1 3.00% $5,017
PLAZA HOME MORTGAGE, INC. 1 5.63% $7,895
Civista Bank 1 3.25% $3,880
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $2,410
AMERICAN FINANCIAL RESOURCES, INC. 1 5.63% $6,144
1st National Bank 1 4.75% $3,745
Century Mortgage Company DBA Century Lending Company 1 4.25% $4,656
Regions Bank 1 4.25% $6,161
MORTGAGE 1 INCORPORATED 1 5.75% $8,008
LOANDEPOT.COM, LLC 1 5.50% $5,490
FINANCE OF AMERICA MORTGAGE LLC 1 3.25% $4,487
GUILD MORTGAGE COMPANY 1 6.13% $5,662
AMCAP MORTGAGE, LTD. 1 4.13% $7,031
GUARANTY HOME MORTGAGE CORPORATION 1 5.75% $4,352
The Union Bank Company 1 6.63% $6,629
ARC HOME LLC 1 6.13% $7,295
GENEVA FINANCIAL, LLC 1 4.13% $4,896
EVERETT FINANCIAL, INC. 1 3.38% $4,146
First Federal Bank of the Midwest 1 5.13% $7,771
NATIONS DIRECT MORTGAGE, LLC 1 5.00% $7,278
Nations Lending Corporation 1 5.75% $2,991
EQUITY RESOURCES, INC. 1 3.25% $7,217

The top Cincinnati USDA lender as defined by loan originations is AMERICAN PACIFIC MORTGAGE CORPORATION, with 35 USDA loans originated. Their average total fees are $6,559, which is $208 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Cincinnati USDA lenders (with over 10 loans originated) are AMERICAN MORTGAGE SERVICE COMPANY ($5,287), CALIBER HOME LOANS, INC. ($5,415), UNION HOME MORTGAGE CORP. ($6,094), DAS Acquisition Company, LLC ($6,476) and NATIONS RELIABLE LENDING, LLC ($6,533).

The lowest rate Cincinnati USDA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. (4.41%), POLARIS HOME FUNDING CORP. (4.69%), UNION HOME MORTGAGE CORP. (4.74%), DAS Acquisition Company, LLC (4.76%) and AMERICAN MORTGAGE SERVICE COMPANY (4.85%).