Cleveland USDA Loan Rates, Closing Costs & Stats

Cleveland, MS

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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.

    Cleveland's 4 lenders originated 9 USDA loans during 2023. The total origination value was $1,225,000, with an average USDA loan value of $136,111.

    Cleveland USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Cleveland averaged 6.31% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Cleveland's average USDA mortgage closing costs are $4,348.

    The average rate for the prior week (2025-02-07) was 6.37% and one month ago for the week of 2025-01-10, the average rate was 6.32%.

    The average rate one year ago was 6.31%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.63%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Cleveland 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 Cleveland level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    BancorpSouth 5 6.38% $5,846
    FIRST COMMUNITY MORTGAGE, INC. 1 5.99% $5,652
    Flagstar Bank, FSB 1 6.63% $4,315
    GMFS LLC 1 6.25% $5,006

    The top Cleveland USDA lender as defined by loan originations is BancorpSouth, with 5 USDA loans originated. Their average total fees are $5,846, which is $193 higher than the next largest lender, FIRST COMMUNITY MORTGAGE, INC..

    The lowest fee Cleveland USDA lenders (with over 10 loans originated) are .

    The lowest rate Cleveland USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Cleveland (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 $130,000 (4.4%) $199,542 (20.5%) 0.00 51
    2018-02-01 $124,375 (-1.1%) $173,978 (1.9%) 0.00 60
    2018-03-01 $127,750 (-7.4%) $168,203 (-2.0%) 0.00 57
    2018-04-01 $127,950 (-14.0%) $163,812 (-10.0%) 0.00 63
    2018-05-01 $137,750 (-5.0%) $172,978 (-4.4%) 0.00 65
    2018-06-01 $159,950 (6.8%) $183,378 (-1.8%) 0.00 63
    2018-07-01 $149,500 (-0.7%) $171,606 (-12.9%) 0.00 72
    2018-08-01 $148,750 (2.2%) $169,312 (-20.4%) 0.00 69
    2018-09-01 $149,500 (10.7%) $172,510 (-16.4%) 0.00 61
    2018-10-01 $149,900 (5.4%) $174,627 (-14.6%) 0.00 63
    2018-11-01 $139,500 (0.8%) $166,566 (-18.3%) 0.00 64
    2018-12-01 $135,000 (2.1%) $166,350 (-16.0%) 0.00 68
    2019-01-01 $129,900 (-0.1%) $156,101 (-21.8%) 0.00 76
    2019-02-01 $133,750 (7.5%) $158,538 (-8.9%) 0.00 77
    2019-03-01 $138,043 (8.1%) $156,195 (-7.1%) 0.00 75
    2019-04-01 $131,818 (3.0%) $150,675 (-8.0%) 0.00 71
    2019-05-01 $137,125 (-0.5%) $164,506 (-4.9%) 0.00 70
    2019-06-01 $135,250 (-15.4%) $162,303 (-11.5%) 0.00 61
    2019-07-01 $141,125 (-5.6%) $172,639 (0.6%) 0.00 52
    2019-08-01 $145,509 (-2.2%) $176,415 (4.2%) 0.00 50
    2019-09-01 $139,598 (-6.6%) $168,383 (-2.4%) 0.00 50
    2019-10-01 $132,450 (-11.6%) $162,146 (-7.2%) 0.00 50
    2019-11-01 $139,500 (0.0%) $171,763 (3.1%) 0.00 48
    2019-12-01 $142,000 (5.2%) $178,635 (7.4%) 0.00 52
    2020-01-01 $139,625 (7.5%) $176,056 (12.8%) 0.00 45
    2020-02-01 $135,000 (0.9%) $171,868 (8.4%) 0.00 46
    2020-03-01 $140,125 (1.5%) $186,754 (19.6%) 0.00 47
    2020-04-01 $143,875 (9.2%) $182,801 (21.3%) 0.00 47
    2020-05-01 $137,750 (0.5%) $177,932 (8.2%) 0.00 42
    2020-06-01 $158,725 (17.4%) $198,224 (22.1%) 0.00 43
    2020-07-01 $159,750 (13.2%) $186,461 (8.0%) 0.00 44
    2020-08-01 $165,750 (13.9%) $199,189 (12.9%) 0.00 35
    2020-09-01 $150,100 (7.5%) $187,392 (11.3%) 0.00 33
    2020-10-01 $146,200 (10.4%) $188,116 (16.0%) 0.00 39
    2020-11-01 $156,800 (12.4%) $181,693 (5.8%) 0.00 51
    2020-12-01 $159,975 (12.7%) $188,247 (5.4%) 0.00 47
    2021-01-01 $138,200 (-1.0%) $181,367 (3.0%) 0.00 37
    2021-02-01 $162,450 (20.3%) $218,629 (27.2%) 0.00 34
    2021-03-01 $188,000 (34.2%) $249,712 (33.7%) 0.00 30
    2021-04-01 $192,125 (33.5%) $249,233 (36.3%) 0.00 28
    2021-05-01 $195,000 (41.6%) $232,038 (30.4%) 0.00 24
    2021-06-01 $174,950 (10.2%) $226,186 (14.1%) 0.00 25
    2021-07-01 $165,000 (3.3%) $197,948 (6.2%) 0.00 23
    2021-08-01 $159,975 (-3.5%) $197,656 (-0.8%) 0.00 29
    2021-09-01 $159,950 (6.6%) $187,677 (0.2%) 0.00 29
    2021-10-01 $161,750 (10.6%) $185,722 (-1.3%) 0.00 23
    2021-11-01 $159,375 (1.6%) $193,332 (6.4%) 0.00 30
    2021-12-01 $141,625 (-11.5%) $187,144 (-0.6%) 0.00 30
    2022-01-01 $145,000 (4.9%) $200,334 (10.5%) 0.00 26
    2022-02-01 $164,950 (1.5%) $199,370 (-8.8%) 0.00 39
    2022-03-01 $154,975 (-17.6%) $205,066 (-17.9%) 0.00 42
    2022-04-01 $149,500 (-22.2%) $206,295 (-17.2%) 0.00 37
    2022-05-01 $149,875 (-23.1%) $190,928 (-17.7%) 0.00 39
    2022-06-01 $147,500 (-15.7%) $178,301 (-21.2%) 0.00 42
    2022-07-01 $156,000 (-5.5%) $198,349 (0.2%) 0.00 45
    2022-08-01 $167,000 (4.4%) $201,537 (2.0%) 0.00 43
    2022-09-01 $169,500 (6.0%) $203,929 (8.7%) 0.00 46
    2022-10-01 $175,000 (8.2%) $209,370 (12.7%) 0.00 40
    2022-11-01 $172,375 (8.2%) $200,914 (3.9%) 0.00 38
    2022-12-01 $177,450 (25.3%) $206,625 (10.4%) 0.00 43
    2023-01-01 $175,000 (20.7%) $213,941 (6.8%) 0.00 37
    2023-02-01 $190,000 (15.2%) $239,460 (20.1%) 0.00 36
    2023-03-01 $190,000 (22.6%) $247,276 (20.6%) 0.00 36
    2023-04-01 $190,000 (27.1%) $250,023 (21.2%) 0.00 45
    2023-05-01 $194,550 (29.8%) $250,272 (31.1%) 0.00 43
    2023-06-01 $198,125 (34.3%) $244,095 (36.9%) 0.00 45
    2023-07-01 $197,500 (26.6%) $237,339 (19.7%) 0.00 46
    2023-08-01 $190,000 (13.8%) $218,203 (8.3%) 0.00 48
    2023-09-01 $158,500 (-6.5%) $191,010 (-6.3%) 0.00 61
    2023-10-01 $166,250 (-5.0%) $183,509 (-12.4%) 0.00 59
    2023-11-01 $152,225 (-11.7%) $173,119 (-13.8%) 0.00 56
    2023-12-01 $150,000 (-15.5%) $176,570 (-14.6%) 0.00 54
    2024-01-01 $145,000 (-17.1%) $175,261 (-18.1%) 0.00 56
    2024-02-01 $148,750 (-21.7%) $180,385 (-24.7%) 0.00 50
    2024-03-01 $157,500 (-17.1%) $211,550 (-14.5%) 0.00 56
    2024-04-01 $167,875 (-11.6%) $217,045 (-13.2%) 0.00 60
    2024-05-01 $177,750 (-8.6%) $215,037 (-14.1%) 0.00 66
    2024-06-01 $171,200 (-13.6%) $218,118 (-10.6%) 0.00 66
    2024-07-01 $169,850 (-14.0%) $215,927 (-9.0%) 0.00 62
    2024-08-01 $175,000 (-7.9%) $235,306 (7.8%) 0.00 66
    2024-09-01 $178,000 (12.3%) $240,602 (26.0%) 0.00 67
    2024-10-01 $177,450 (6.7%) $235,654 (28.4%) 0.00 76
    2024-11-01 $179,950 (18.2%) $246,678 (42.5%) 0.00 74
    2024-12-01 $179,975 (20.0%) $244,410 (38.4%) 0.00 78
    2025-01-01 $182,500 (25.9%) $227,666 (29.9%) 0.00 79
    Cleveland's median listing price for 2025-01-01 was $182,500, a difference of $37,500 (25.9%) versus the prior year and $2,525 versus the prior month.

    Cleveland's median listing price comes in at 0% of the national average.

    Cleveland's average listing price for 2025-01-01 was $227,666, a difference of $52,405 (29.9%) versus the prior year and $-16,744 versus the prior month.

    For the 2025-01-01 period, Cleveland had 79 MLS listings, a difference of 1 listings (1%) versus the prior month and 23 listings (41%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Cleveland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,920 sqft
    2018-02-01 0 days 1,691 sqft
    2018-03-01 0 days 1,686 sqft
    2018-04-01 0 days 1,690 sqft
    2018-05-01 0 days 1,760 sqft
    2018-06-01 0 days 1,887 sqft
    2018-07-01 0 days 1,828 sqft
    2018-08-01 0 days 1,763 sqft
    2018-09-01 0 days 1,806 sqft
    2018-10-01 0 days 1,817 sqft
    2018-11-01 0 days 1,754 sqft
    2018-12-01 0 days 1,738 sqft
    2019-01-01 0 days 1,700 sqft
    2019-02-01 0 days 1,726 sqft
    2019-03-01 0 days 1,738 sqft
    2019-04-01 0 days 1,740 sqft
    2019-05-01 0 days 1,760 sqft
    2019-06-01 0 days 1,760 sqft
    2019-07-01 0 days 1,818 sqft
    2019-08-01 0 days 1,872 sqft
    2019-09-01 0 days 1,783 sqft
    2019-10-01 0 days 1,737 sqft
    2019-11-01 0 days 1,765 sqft
    2019-12-01 0 days 1,779 sqft
    2020-01-01 0 days 1,708 sqft
    2020-02-01 0 days 1,719 sqft
    2020-03-01 0 days 1,791 sqft
    2020-04-01 0 days 1,795 sqft
    2020-05-01 0 days 1,764 sqft
    2020-06-01 0 days 1,942 sqft
    2020-07-01 0 days 2,000 sqft
    2020-08-01 0 days 2,079 sqft
    2020-09-01 0 days 2,000 sqft
    2020-10-01 0 days 2,035 sqft
    2020-11-01 0 days 1,875 sqft
    2020-12-01 0 days 1,996 sqft
    2021-01-01 0 days 1,780 sqft
    2021-02-01 0 days 1,873 sqft
    2021-03-01 0 days 2,047 sqft
    2021-04-01 0 days 2,097 sqft
    2021-05-01 0 days 1,963 sqft
    2021-06-01 0 days 1,849 sqft
    2021-07-01 0 days 1,964 sqft
    2021-08-01 0 days 1,860 sqft
    2021-09-01 0 days 1,894 sqft
    2021-10-01 0 days 1,790 sqft
    2021-11-01 0 days 1,652 sqft
    2021-12-01 0 days 1,645 sqft
    2022-01-01 0 days 1,751 sqft
    2022-02-01 0 days 1,938 sqft
    2022-03-01 0 days 1,961 sqft
    2022-04-01 0 days 1,938 sqft
    2022-05-01 0 days 1,789 sqft
    2022-06-01 0 days 1,831 sqft
    2022-07-01 0 days 1,793 sqft
    2022-08-01 0 days 1,856 sqft
    2022-09-01 0 days 1,831 sqft
    2022-10-01 0 days 1,860 sqft
    2022-11-01 0 days 1,948 sqft
    2022-12-01 0 days 1,948 sqft
    2023-01-01 0 days 1,926 sqft
    2023-02-01 0 days 2,063 sqft
    2023-03-01 0 days 1,948 sqft
    2023-04-01 0 days 1,983 sqft
    2023-05-01 0 days 2,010 sqft
    2023-06-01 0 days 2,080 sqft
    2023-07-01 0 days 2,126 sqft
    2023-08-01 0 days 2,004 sqft
    2023-09-01 0 days 1,769 sqft
    2023-10-01 0 days 1,830 sqft
    2023-11-01 0 days 1,665 sqft
    2023-12-01 0 days 1,664 sqft
    2024-01-01 0 days 1,525 sqft
    2024-02-01 0 days 1,500 sqft
    2024-03-01 0 days 1,659 sqft
    2024-04-01 0 days 1,668 sqft
    2024-05-01 0 days 1,669 sqft
    2024-06-01 0 days 1,659 sqft
    2024-07-01 0 days 1,719 sqft
    2024-08-01 0 days 1,793 sqft
    2024-09-01 0 days 1,817 sqft
    2024-10-01 0 days 1,736 sqft
    2024-11-01 0 days 1,881 sqft
    2024-12-01 0 days 1,849 sqft
    2025-01-01 0 days 1,815 sqft
    Cleveland's median listing age (time on market) for 2025-01-01 was 0 days.

    Cleveland's median square footage for active listings during the 2025-01-01 period was 1,815 sqft. One year prior, the average listing was 1,525 sqft.