Cincinnati USDA Loan Rates, Closing Costs & Stats

CINCINNATI, OH-KY-IN

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    • 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 57 lenders originated 222 USDA loans during 2023. The total origination value was $44,870,000, with an average USDA loan value of $202,117.

    Cincinnati USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Cincinnati averaged 7.06% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Cincinnati's average USDA mortgage closing costs are $5,206.

    The average rate for the prior week (2024-04-12) was 6.91% and one month ago for the week of 2024-03-15, the average rate was 6.59%.

    The average rate one year ago was 6.13%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.45%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CROSSCOUNTRY MORTGAGE, LLC 32 6.57% $7,728
    AMERICAN PACIFIC MORTGAGE CORPORATION 21 7.08% $7,931
    UNION HOME MORTGAGE CORP. 13 6.75% $6,425
    THRIVE MORTGAGE, LLC 11 6.75% $6,778
    NATIONS RELIABLE LENDING, LLC 9 6.92% $6,561
    FIRST COMMUNITY MORTGAGE, INC. 9 6.75% $6,665
    STOCKTON MORTGAGE CORPORATION 8 6.59% $8,599
    UNITED WHOLESALE MORTGAGE, LLC 8 6.61% $6,399
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 7.20% $6,719
    T2 FINANCIAL LLC 7 6.66% $10,156
    SUCCESS MORTGAGE PARTNERS, INC. 6 6.46% $8,965
    U.S. Bank 5 6.85% $6,709
    NVR Mortgage Finance, Inc. 5 5.32% $7,261
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 7.13% $8,059
    Cincinnati Federal 4 6.06% $5,568
    BAYSHORE MORTGAGE FUNDING, LLC 4 6.94% $9,328
    NEWREZ LLC 4 6.72% $5,141
    Paramount Residential Mortgage Group, Inc. 4 6.81% $8,304
    HOMESIDE FINANCIAL, LLC 3 6.25% $6,774
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 6.50% $8,883
    Bank of England 3 5.83% $9,530
    Gateway First Bank 3 6.25% $6,822
    RUOFF MORTGAGE COMPANY, INC. 3 6.75% $3,439
    RAPID MORTGAGE COMPANY 3 6.42% $5,594
    Union Savings Bank 2 7.38% $6,419
    ENVOY MORTGAGE, LTD 2 7.00% $6,479
    EQUITY RESOURCES, INC. 2 6.99% $6,506
    EVERETT FINANCIAL, INC. 2 6.00% $10,185
    Prosperity Home Mortgage, LLC 2 6.56% $6,049
    VICTORY MORTGAGE, L.L.C. 2 5.31% $5,540
    MID AMERICA MORTGAGE, INC. 1 7.13% $3,860
    Northpointe Bank 1 6.75% $5,104
    NORWICH COMMERCIAL GROUP, INC. 1 7.13% $7,566
    INTERNATIONAL CITY MORTGAGE, INC. 1 7.25% $6,581
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 5.88% $11,056
    POLARIS HOME FUNDING CORP. 1 6.50% $5,833
    Heartland Bank 1 7.00% $5,696
    Western Ohio Mortgage Corporation 1 7.13% $5,104
    Guardian Savings Bank, A Federal Savings Bank 1 5.75% $7,338
    GUARANTEED RATE, INC. 1 5.78% $6,969
    S1L, Inc. 1 7.25% $6,620
    Somerville Bank 1 7.75% $4,160
    FREEDOM MORTGAGE CORPORATION 1 6.25% $8,067
    FLAT BRANCH MORTGAGE, INC. 1 5.75% $5,847
    Flagstar Bank, FSB 1 6.75% $6,096
    The Huntington National Bank 1 7.00% $6,335
    First Federal Bank of the Midwest 1 5.63% $5,944
    Truist 1 6.63% $7,572
    DAS Acquisition Company, LLC 1 6.63% $6,323
    AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $3,791
    Century Mortgage Company DBA Century Lending Company 1 5.50% $7,130
    Carrington Mortgage Services, LLC 1 6.63% $5,469
    VAN DYK MORTGAGE CORPORATION 1 7.13% $3,305
    WRIGHT-PATT CREDIT UNION, INC. 1 6.38% $8,297
    VILLAGE CAPITAL MORTGAGE 1 7.75% $9,320
    Nations Lending Corporation 1 5.63% $7,344
    MOVEMENT MORTGAGE, LLC 1 6.25% $7,296

    The top Cincinnati USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 32 USDA loans originated. Their average total fees are $7,728, which is $203 lower than the next largest lender, AMERICAN PACIFIC MORTGAGE CORPORATION.

    The lowest fee Cincinnati USDA lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. ($6,425), THRIVE MORTGAGE, LLC ($6,778), CROSSCOUNTRY MORTGAGE, LLC ($7,728), AMERICAN PACIFIC MORTGAGE CORPORATION ($7,931) and .

    The lowest rate Cincinnati USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC (6.57%), UNION HOME MORTGAGE CORP. (6.75%), THRIVE MORTGAGE, LLC (6.75%), AMERICAN PACIFIC MORTGAGE CORPORATION (7.08%) and .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Cincinnati (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 $222,500 (20.7%) $307,339 (9.9%) 0.82 5,218
    2018-02-01 $237,000 (23.9%) $319,983 (11.1%) 0.86 5,010
    2018-03-01 $255,000 (20.3%) $344,718 (12.8%) 0.89 4,838
    2018-04-01 $268,950 (17.5%) $354,734 (11.7%) 0.91 5,011
    2018-05-01 $274,900 (14.8%) $358,952 (11.3%) 0.92 5,302
    2018-06-01 $269,900 (12.5%) $352,269 (9.0%) 0.90 5,805
    2018-07-01 $269,900 (12.5%) $349,730 (9.3%) 0.90 6,180
    2018-08-01 $259,418 (9.5%) $341,535 (7.7%) 0.87 6,449
    2018-09-01 $254,690 (8.4%) $336,675 (6.3%) 0.86 6,630
    2018-10-01 $249,900 (10.1%) $332,396 (6.4%) 0.85 6,708
    2018-11-01 $245,450 (9.1%) $328,228 (6.3%) 0.83 6,595
    2018-12-01 $239,900 (9.1%) $328,874 (7.9%) 0.83 5,922
    2019-01-01 $239,450 (7.6%) $324,059 (5.4%) 0.83 5,386
    2019-02-01 $252,450 (6.5%) $341,348 (6.7%) 0.85 4,951
    2019-03-01 $266,371 (4.5%) $353,633 (2.6%) 0.87 4,923
    2019-04-01 $277,450 (3.2%) $365,085 (2.9%) 0.88 4,960
    2019-05-01 $289,900 (5.5%) $375,756 (4.7%) 0.91 5,143
    2019-06-01 $285,000 (5.6%) $371,223 (5.4%) 0.89 5,255
    2019-07-01 $282,450 (4.7%) $367,857 (5.2%) 0.88 5,398
    2019-08-01 $275,836 (6.3%) $360,267 (5.5%) 0.87 5,479
    2019-09-01 $269,741 (5.9%) $355,702 (5.7%) 0.86 5,495
    2019-10-01 $265,208 (6.1%) $352,658 (6.1%) 0.86 5,493
    2019-11-01 $259,900 (5.9%) $345,346 (5.2%) 0.85 5,173
    2019-12-01 $259,000 (8.0%) $342,009 (4.0%) 0.86 4,605
    2020-01-01 $264,500 (10.5%) $346,436 (6.9%) 0.88 4,108
    2020-02-01 $279,900 (10.9%) $368,272 (7.9%) 0.92 3,598
    2020-03-01 $299,000 (12.3%) $384,791 (8.8%) 0.94 3,506
    2020-04-01 $299,450 (7.9%) $383,323 (5.0%) 0.94 3,565
    2020-05-01 $324,900 (12.1%) $399,801 (6.4%) 0.99 3,432
    2020-06-01 $334,225 (17.3%) $420,800 (13.4%) 0.98 3,165
    2020-07-01 $336,950 (19.3%) $428,223 (16.4%) 0.98 2,926
    2020-08-01 $322,282 (16.8%) $425,901 (18.2%) 0.92 2,956
    2020-09-01 $315,005 (16.8%) $425,724 (19.7%) 0.90 3,004
    2020-10-01 $299,900 (13.1%) $417,208 (18.3%) 0.86 3,058
    2020-11-01 $290,510 (11.8%) $408,504 (18.3%) 0.85 2,959
    2020-12-01 $292,450 (12.9%) $414,041 (21.1%) 0.87 2,570
    2021-01-01 $299,900 (13.4%) $427,965 (23.5%) 0.90 2,178
    2021-02-01 $317,300 (13.4%) $441,337 (19.8%) 0.92 1,783
    2021-03-01 $325,000 (8.7%) $453,223 (17.8%) 0.92 1,715
    2021-04-01 $347,400 (16.0%) $479,569 (25.1%) 0.94 1,690
    2021-05-01 $356,900 (9.9%) $489,372 (22.4%) 0.95 1,861
    2021-06-01 $348,458 (4.3%) $480,220 (14.1%) 0.92 2,102
    2021-07-01 $325,000 (-3.6%) $455,528 (6.4%) 0.86 2,497
    2021-08-01 $315,995 (-2.0%) $433,994 (1.9%) 0.84 2,829
    2021-09-01 $304,950 (-3.2%) $429,369 (0.9%) 0.81 2,853
    2021-10-01 $300,000 (0.0%) $426,638 (2.3%) 0.80 2,715
    2021-11-01 $299,450 (3.1%) $420,985 (3.1%) 0.80 2,464
    2021-12-01 $296,950 (1.5%) $426,952 (3.1%) 0.80 2,127
    2022-01-01 $299,900 (0.0%) $435,203 (1.7%) 0.81 1,806
    2022-02-01 $322,000 (1.5%) $461,596 (4.6%) 0.84 1,446
    2022-03-01 $319,450 (-1.7%) $458,633 (1.2%) 0.80 1,401
    2022-04-01 $324,800 (-6.5%) $453,574 (-5.4%) 0.77 1,469
    2022-05-01 $324,950 (-9.0%) $449,609 (-8.1%) 0.74 1,855
    2022-06-01 $325,000 (-6.7%) $449,907 (-6.3%) 0.72 2,159
    2022-07-01 $315,000 (-3.1%) $435,575 (-4.4%) 0.71 2,530
    2022-08-01 $322,375 (2.0%) $435,786 (0.4%) 0.75 2,604
    2022-09-01 $325,000 (6.6%) $443,643 (3.3%) 0.76 2,510
    2022-10-01 $324,900 (8.3%) $443,816 (4.0%) 0.76 2,745
    2022-11-01 $325,000 (8.5%) $444,280 (5.5%) 0.78 2,715
    2022-12-01 $325,000 (9.5%) $446,899 (4.7%) 0.80 2,353
    2023-01-01 $327,450 (9.2%) $452,234 (3.9%) 0.81 2,050
    2023-02-01 $359,950 (11.8%) $489,466 (6.0%) 0.87 1,736
    2023-03-01 $367,347 (15.0%) $505,645 (10.3%) 0.87 1,672
    2023-04-01 $385,000 (18.5%) $511,811 (12.8%) 0.90 1,838
    2023-05-01 $389,500 (19.9%) $518,492 (15.3%) 0.88 1,906
    2023-06-01 $389,900 (20.0%) $510,455 (13.5%) 0.88 2,124
    2023-07-01 $383,367 (21.7%) $513,414 (17.9%) 0.87 2,250
    2023-08-01 $375,000 (16.3%) $502,303 (15.3%) 0.86 2,425
    2023-09-01 $372,500 (14.6%) $497,661 (12.2%) 0.87 2,664
    2023-10-01 $356,450 (9.7%) $483,367 (8.9%) 0.84 2,924
    2023-11-01 $344,153 (5.9%) $465,584 (4.8%) 0.82 3,028
    2023-12-01 $335,000 (3.1%) $454,966 (1.8%) 0.82 2,773
    2024-01-01 $329,900 (0.8%) $451,122 (-0.3%) 0.81 2,451
    2024-02-01 $336,850 (-6.4%) $469,102 (-4.2%) 0.81 2,190
    2024-03-01 $350,000 (-4.7%) $489,433 (-3.2%) 0.82 2,142
    Cincinnati's median listing price for 2024-03-01 was $350,000, a difference of $-17,347 (-4.7%) versus the prior year and $13,150 versus the prior month.

    Cincinnati's median listing price comes in at 82% of the national average.

    Cincinnati's average listing price for 2024-03-01 was $489,433, a difference of $-16,212 (-3.2%) versus the prior year and $20,331 versus the prior month.

    For the 2024-03-01 period, Cincinnati had 2,142 MLS listings, a difference of -48 listings (-2%) versus the prior month and 470 listings (28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Cincinnati (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 78 days 1,860 sqft
    2018-02-01 69 days 1,886 sqft
    2018-03-01 48 days 2,008 sqft
    2018-04-01 44 days 2,100 sqft
    2018-05-01 39 days 2,142 sqft
    2018-06-01 40 days 2,120 sqft
    2018-07-01 43 days 2,106 sqft
    2018-08-01 45 days 2,068 sqft
    2018-09-01 49 days 2,019 sqft
    2018-10-01 52 days 1,985 sqft
    2018-11-01 54 days 1,956 sqft
    2018-12-01 64 days 1,925 sqft
    2019-01-01 72 days 1,897 sqft
    2019-02-01 67 days 1,963 sqft
    2019-03-01 51 days 2,011 sqft
    2019-04-01 43 days 2,057 sqft
    2019-05-01 40 days 2,119 sqft
    2019-06-01 42 days 2,119 sqft
    2019-07-01 46 days 2,114 sqft
    2019-08-01 47 days 2,071 sqft
    2019-09-01 49 days 2,031 sqft
    2019-10-01 50 days 2,000 sqft
    2019-11-01 52 days 1,971 sqft
    2019-12-01 64 days 1,937 sqft
    2020-01-01 71 days 1,943 sqft
    2020-02-01 61 days 2,032 sqft
    2020-03-01 45 days 2,096 sqft
    2020-04-01 45 days 2,091 sqft
    2020-05-01 47 days 2,177 sqft
    2020-06-01 45 days 2,211 sqft
    2020-07-01 43 days 2,188 sqft
    2020-08-01 38 days 2,122 sqft
    2020-09-01 37 days 2,046 sqft
    2020-10-01 37 days 1,997 sqft
    2020-11-01 40 days 1,899 sqft
    2020-12-01 52 days 1,883 sqft
    2021-01-01 54 days 1,842 sqft
    2021-02-01 50 days 1,832 sqft
    2021-03-01 33 days 1,860 sqft
    2021-04-01 31 days 1,934 sqft
    2021-05-01 24 days 1,993 sqft
    2021-06-01 24 days 1,942 sqft
    2021-07-01 25 days 1,861 sqft
    2021-08-01 28 days 1,812 sqft
    2021-09-01 33 days 1,792 sqft
    2021-10-01 36 days 1,762 sqft
    2021-11-01 38 days 1,731 sqft
    2021-12-01 46 days 1,680 sqft
    2022-01-01 57 days 1,680 sqft
    2022-02-01 51 days 1,674 sqft
    2022-03-01 31 days 1,686 sqft
    2022-04-01 24 days 1,687 sqft
    2022-05-01 21 days 1,749 sqft
    2022-06-01 22 days 1,802 sqft
    2022-07-01 25 days 1,791 sqft
    2022-08-01 30 days 1,784 sqft
    2022-09-01 36 days 1,792 sqft
    2022-10-01 33 days 1,836 sqft
    2022-11-01 40 days 1,828 sqft
    2022-12-01 51 days 1,800 sqft
    2023-01-01 55 days 1,811 sqft
    2023-02-01 49 days 1,821 sqft
    2023-03-01 38 days 1,836 sqft
    2023-04-01 31 days 1,914 sqft
    2023-05-01 32 days 2,006 sqft
    2023-06-01 30 days 2,005 sqft
    2023-07-01 31 days 1,974 sqft
    2023-08-01 32 days 1,968 sqft
    2023-09-01 32 days 1,973 sqft
    2023-10-01 33 days 1,937 sqft
    2023-11-01 38 days 1,888 sqft
    2023-12-01 44 days 1,830 sqft
    2024-01-01 54 days 1,789 sqft
    2024-02-01 39 days 1,796 sqft
    2024-03-01 37 days 1,849 sqft
    Cincinnati's median listing age (time on market) for 2024-03-01 was 37 days. This is -3% shorter than the same period one year ago.

    Cincinnati's median square footage for active listings during the 2024-03-01 period was 1,849 sqft. One year prior, the average listing was 1,836 sqft.