Cincinnati USDA Loan Rates, Closing Costs & Stats

CINCINNATI, OH-KY-IN

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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 6.52% for the week of 2024-07-19, compared to the national average (all USDA variants) of 6.628% for the same period.

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

    The average rate for the prior week (2024-07-12) was 6.75% and one month ago for the week of 2024-06-14, the average rate was 6.88%.

    The average rate one year ago was 6.63%.

    For refis of the same type during the week of 2024-07-19, the average rate was 7.11%.

    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 .