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
6.25%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
Cincinnati's average USDA mortgage closing costs are $5,092.
The average rate for the prior week (2023-05-19) was
5.89% and
one month ago for the week of 2023-04-21, the
average rate was 6%.
The average rate one year ago was 4.72%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.55%.
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.
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%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Cincinnati (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 | $223,148 (20.8%) | $307,307 (9.9%) | 0.83 | 5,227 |
2018-02-01 | $237,230 (23.8%) | $319,926 (11.0%) | 0.86 | 5,019 |
2018-03-01 | $257,100 (21.3%) | $344,606 (12.8%) | 0.90 | 4,838 |
2018-04-01 | $268,950 (17.5%) | $354,658 (11.7%) | 0.91 | 5,011 |
2018-05-01 | $274,900 (14.8%) | $358,871 (11.3%) | 0.92 | 5,304 |
2018-06-01 | $269,900 (12.5%) | $352,200 (8.9%) | 0.90 | 5,806 |
2018-07-01 | $269,900 (12.5%) | $349,656 (9.3%) | 0.90 | 6,182 |
2018-08-01 | $259,400 (9.4%) | $341,467 (7.7%) | 0.87 | 6,453 |
2018-09-01 | $254,690 (8.4%) | $336,634 (6.2%) | 0.86 | 6,634 |
2018-10-01 | $249,900 (10.1%) | $332,346 (6.4%) | 0.85 | 6,712 |
2018-11-01 | $245,450 (9.1%) | $328,181 (6.3%) | 0.83 | 6,599 |
2018-12-01 | $239,900 (9.1%) | $328,810 (7.8%) | 0.83 | 5,923 |
2019-01-01 | $239,450 (7.3%) | $323,996 (5.4%) | 0.83 | 5,387 |
2019-02-01 | $252,450 (6.4%) | $341,259 (6.7%) | 0.85 | 4,953 |
2019-03-01 | $274,900 (6.9%) | $360,575 (4.6%) | 0.92 | 4,866 |
2019-04-01 | $279,400 (3.9%) | $365,181 (3.0%) | 0.89 | 4,914 |
2019-05-01 | $289,900 (5.5%) | $375,788 (4.7%) | 0.91 | 5,146 |
2019-06-01 | $285,450 (5.8%) | $371,221 (5.4%) | 0.89 | 5,257 |
2019-07-01 | $282,450 (4.7%) | $367,936 (5.2%) | 0.88 | 5,399 |
2019-08-01 | $279,900 (7.9%) | $365,217 (7.0%) | 0.88 | 5,376 |
2019-09-01 | $284,040 (11.5%) | $375,133 (11.4%) | 0.90 | 4,793 |
2019-10-01 | $265,208 (6.1%) | $352,826 (6.2%) | 0.86 | 5,462 |
2019-11-01 | $259,900 (5.9%) | $345,306 (5.2%) | 0.85 | 5,174 |
2019-12-01 | $259,000 (8.0%) | $341,964 (4.0%) | 0.86 | 4,606 |
2020-01-01 | $264,475 (10.5%) | $346,351 (6.9%) | 0.88 | 4,110 |
2020-02-01 | $279,900 (10.9%) | $368,172 (7.9%) | 0.92 | 3,601 |
2020-03-01 | $299,000 (8.8%) | $384,636 (6.7%) | 0.94 | 3,510 |
2020-04-01 | $299,450 (7.2%) | $383,189 (4.9%) | 0.94 | 3,568 |
2020-05-01 | $324,900 (12.1%) | $399,764 (6.4%) | 0.99 | 3,433 |
2020-06-01 | $333,925 (17.0%) | $420,625 (13.3%) | 0.98 | 3,167 |
2020-07-01 | $335,862 (18.9%) | $427,991 (16.3%) | 0.97 | 2,929 |
2020-08-01 | $322,092 (15.1%) | $425,777 (16.6%) | 0.92 | 2,958 |
2020-09-01 | $314,950 (10.9%) | $425,604 (13.5%) | 0.90 | 3,006 |
2020-10-01 | $299,900 (13.1%) | $417,097 (18.2%) | 0.86 | 3,060 |
2020-11-01 | $290,300 (11.7%) | $408,428 (18.3%) | 0.85 | 2,960 |
2020-12-01 | $292,450 (12.9%) | $413,988 (21.1%) | 0.87 | 2,571 |
2021-01-01 | $299,900 (13.4%) | $427,814 (23.5%) | 0.90 | 2,181 |
2021-02-01 | $317,049 (13.3%) | $441,207 (19.8%) | 0.92 | 1,785 |
2021-03-01 | $325,000 (8.7%) | $453,169 (17.8%) | 0.92 | 1,715 |
2021-04-01 | $347,101 (15.9%) | $479,395 (25.1%) | 0.94 | 1,691 |
2021-05-01 | $356,900 (9.9%) | $489,333 (22.4%) | 0.95 | 1,862 |
2021-06-01 | $348,458 (4.4%) | $480,220 (14.2%) | 0.92 | 2,102 |
2021-07-01 | $325,000 (-3.2%) | $455,462 (6.4%) | 0.86 | 2,498 |
2021-08-01 | $315,475 (-2.1%) | $433,845 (1.9%) | 0.84 | 2,832 |
2021-09-01 | $304,950 (-3.2%) | $429,283 (0.9%) | 0.81 | 2,854 |
2021-10-01 | $300,000 (0.0%) | $426,201 (2.2%) | 0.80 | 2,716 |
2021-11-01 | $299,000 (3.0%) | $420,738 (3.0%) | 0.80 | 2,464 |
2021-12-01 | $296,950 (1.5%) | $427,005 (3.1%) | 0.80 | 2,127 |
2022-01-01 | $299,900 (0.0%) | $435,203 (1.7%) | 0.81 | 1,807 |
2022-02-01 | $317,500 (0.1%) | $461,798 (4.7%) | 0.83 | 1,447 |
2022-03-01 | $319,450 (-1.7%) | $458,924 (1.3%) | 0.80 | 1,401 |
2022-04-01 | $319,911 (-7.8%) | $453,980 (-5.3%) | 0.76 | 1,469 |
2022-05-01 | $324,950 (-9.0%) | $449,667 (-8.1%) | 0.74 | 1,855 |
2022-06-01 | $324,950 (-6.8%) | $450,385 (-6.2%) | 0.72 | 2,160 |
2022-07-01 | $315,000 (-3.1%) | $435,627 (-4.4%) | 0.71 | 2,532 |
2022-08-01 | $321,900 (2.0%) | $436,091 (0.5%) | 0.74 | 2,606 |
2022-09-01 | $324,975 (6.6%) | $443,703 (3.4%) | 0.76 | 2,510 |
2022-10-01 | $324,900 (8.3%) | $443,747 (4.1%) | 0.76 | 2,746 |
2022-11-01 | $325,000 (8.7%) | $444,428 (5.6%) | 0.78 | 2,716 |
2022-12-01 | $325,000 (9.5%) | $447,240 (4.7%) | 0.80 | 2,354 |
2023-01-01 | $327,475 (9.2%) | $452,515 (4.0%) | 0.81 | 2,051 |
2023-02-01 | $359,950 (13.4%) | $489,533 (6.0%) | 0.87 | 1,736 |
2023-03-01 | $367,400 (15.0%) | $506,224 (10.3%) | 0.87 | 1,672 |
2023-04-01 | $385,000 (20.4%) | $512,893 (13.0%) | 0.90 | 1,837 |
Cincinnati's median listing price comes in at 90% of the national average.
Cincinnati's average listing price for 2023-04-01 was $512,893, a difference of $58,913 (13.0%) versus the prior year and $6,669 versus the prior month.
For the 2023-04-01 period, Cincinnati had 1,837 MLS listings, a difference of 165 listings (10%) versus the prior month and 368 listings (25%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Cincinnati (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 82 days | 1,854 sqft |
2018-02-01 | 74 days | 1,880 sqft |
2018-03-01 | 53 days | 2,000 sqft |
2018-04-01 | 48 days | 2,093 sqft |
2018-05-01 | 44 days | 2,135 sqft |
2018-06-01 | 43 days | 2,107 sqft |
2018-07-01 | 45 days | 2,099 sqft |
2018-08-01 | 47 days | 2,059 sqft |
2018-09-01 | 51 days | 2,012 sqft |
2018-10-01 | 56 days | 1,976 sqft |
2018-11-01 | 58 days | 1,946 sqft |
2018-12-01 | 66 days | 1,916 sqft |
2019-01-01 | 74 days | 1,880 sqft |
2019-02-01 | 72 days | 1,951 sqft |
2019-03-01 | 54 days | 2,040 sqft |
2019-04-01 | 46 days | 2,049 sqft |
2019-05-01 | 44 days | 2,110 sqft |
2019-06-01 | 44 days | 2,111 sqft |
2019-07-01 | 48 days | 2,104 sqft |
2019-08-01 | 59 days | 2,091 sqft |
2019-09-01 | 62 days | 2,086 sqft |
2019-10-01 | 52 days | 1,987 sqft |
2019-11-01 | 54 days | 1,956 sqft |
2019-12-01 | 67 days | 1,921 sqft |
2020-01-01 | 76 days | 1,927 sqft |
2020-02-01 | 66 days | 2,016 sqft |
2020-03-01 | 49 days | 2,072 sqft |
2020-04-01 | 48 days | 2,074 sqft |
2020-05-01 | 51 days | 2,152 sqft |
2020-06-01 | 48 days | 2,204 sqft |
2020-07-01 | 45 days | 2,166 sqft |
2020-08-01 | 40 days | 2,108 sqft |
2020-09-01 | 38 days | 2,030 sqft |
2020-10-01 | 39 days | 1,969 sqft |
2020-11-01 | 43 days | 1,882 sqft |
2020-12-01 | 55 days | 1,842 sqft |
2021-01-01 | 58 days | 1,812 sqft |
2021-02-01 | 54 days | 1,785 sqft |
2021-03-01 | 38 days | 1,815 sqft |
2021-04-01 | 32 days | 1,893 sqft |
2021-05-01 | 26 days | 1,974 sqft |
2021-06-01 | 26 days | 1,918 sqft |
2021-07-01 | 26 days | 1,835 sqft |
2021-08-01 | 30 days | 1,795 sqft |
2021-09-01 | 35 days | 1,770 sqft |
2021-10-01 | 38 days | 1,743 sqft |
2021-11-01 | 41 days | 1,714 sqft |
2021-12-01 | 49 days | 1,674 sqft |
2022-01-01 | 59 days | 1,665 sqft |
2022-02-01 | 54 days | 1,660 sqft |
2022-03-01 | 36 days | 1,680 sqft |
2022-04-01 | 28 days | 1,680 sqft |
2022-05-01 | 23 days | 1,740 sqft |
2022-06-01 | 24 days | 1,778 sqft |
2022-07-01 | 27 days | 1,776 sqft |
2022-08-01 | 31 days | 1,770 sqft |
2022-09-01 | 38 days | 1,781 sqft |
2022-10-01 | 36 days | 1,823 sqft |
2022-11-01 | 42 days | 1,818 sqft |
2022-12-01 | 52 days | 1,788 sqft |
2023-01-01 | 58 days | 1,791 sqft |
2023-02-01 | 54 days | 1,787 sqft |
2023-03-01 | 43 days | 1,792 sqft |
2023-04-01 | 35 days | 1,840 sqft |
Cincinnati's median square footage for active listings during the 2023-04-01 period was 1,840 sqft. One year prior, the average listing was 1,680 sqft.