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 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%.

    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%).

    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 $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 for 2023-04-01 was $385,000, a difference of $65,089 (20.4%) versus the prior year and $17,600 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2023-04-01 was 35 days. This is 25% longer than the same period one year ago.

    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.