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%.

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.