Columbus USDA Loan Rates, Closing Costs & Stats

COLUMBUS, OH

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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.

    Columbus's 32 lenders originated 117 USDA loans during 2023. The total origination value was $23,395,000, with an average USDA loan value of $199,957.

    Columbus USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Columbus averaged 6.69% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Columbus's average USDA mortgage closing costs are $5,520.

    The average rate for the prior week (2024-04-12) was 6.64% and one month ago for the week of 2024-03-15, the average rate was 6.72%.

    The average rate one year ago was 6.26%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.12%.

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

    Columbus 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 Columbus level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    J. VIRGIL, INC. 17 6.95% $7,339
    UNION HOME MORTGAGE CORP. 16 6.93% $8,805
    CROSSCOUNTRY MORTGAGE, LLC 13 6.68% $7,213
    UNITED WHOLESALE MORTGAGE, LLC 5 6.31% $9,450
    NEWREZ LLC 4 6.59% $7,383
    EQUITY RESOURCES, INC. 4 6.65% $7,078
    POLARIS HOME FUNDING CORP. 4 6.34% $7,182
    GUARANTEED RATE, INC. 3 6.83% $6,507
    RUOFF MORTGAGE COMPANY, INC. 3 6.50% $5,038
    DAS Acquisition Company, LLC 3 7.25% $5,770
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.00% $6,600
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.96% $6,099
    GUARANTEED RATE AFFINITY, LLC 3 6.17% $6,828
    Paramount Residential Mortgage Group, Inc. 3 6.79% $6,413
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.88% $5,470
    Carrington Mortgage Services, LLC 2 6.13% $5,990
    GENEVA FINANCIAL, LLC 2 6.63% $9,748
    NATIONWIDE MORTGAGE BANKERS, INC. 2 6.88% $6,260
    NFM, INC. 2 6.88% $10,259
    The Union Bank Company 2 6.56% $7,335
    Hometown Equity Mortgage, LLC 1 6.88% $10,847
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.13% $10,043
    GUILD MORTGAGE COMPANY 1 7.13% $5,107
    EVERETT FINANCIAL, INC. 1 6.63% $4,139
    EMM LOANS LLC 1 6.00% $7,478
    CME Federal Credit Union 1 5.50% $10,735
    THE EQUITABLE MORTGAGE CORPORATION 1 6.50% $5,816
    The Huntington National Bank 1 5.75% $11,663
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.88% $15,857
    LAND HOME FINANCIAL SERVICES, INC. 1 6.13% $5,989
    Mortgage Research Center, LLC 1 8.13% $3,693
    CHURCHILL MORTGAGE CORPORATION 1 7.00% $6,463

    The top Columbus USDA lender as defined by loan originations is J. VIRGIL, INC., with 17 USDA loans originated. Their average total fees are $7,339, which is $1,465 lower than the next largest lender, UNION HOME MORTGAGE CORP..

    The lowest fee Columbus USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC ($7,213), J. VIRGIL, INC. ($7,339), UNION HOME MORTGAGE CORP. ($8,805), .

    The lowest rate Columbus USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC (6.68%), UNION HOME MORTGAGE CORP. (6.93%), J. VIRGIL, INC. (6.95%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Columbus (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 $254,450 (29.2%) $339,307 (14.0%) 0.94 3,074
    2018-02-01 $276,493 (34.9%) $361,516 (17.3%) 1.00 2,798
    2018-03-01 $280,000 (20.6%) $362,243 (10.1%) 0.98 2,840
    2018-04-01 $292,450 (17.5%) $368,479 (7.8%) 0.99 3,042
    2018-05-01 $299,900 (14.7%) $377,721 (7.7%) 1.00 3,441
    2018-06-01 $299,900 (14.0%) $376,379 (6.5%) 1.00 3,844
    2018-07-01 $299,750 (15.3%) $374,600 (7.9%) 1.00 4,239
    2018-08-01 $284,850 (9.8%) $359,154 (4.5%) 0.95 4,626
    2018-09-01 $274,800 (9.9%) $351,506 (6.1%) 0.92 4,753
    2018-10-01 $266,450 (6.7%) $345,076 (5.9%) 0.90 4,806
    2018-11-01 $261,200 (5.4%) $339,949 (3.9%) 0.89 4,599
    2018-12-01 $254,900 (4.1%) $335,795 (2.3%) 0.88 3,979
    2019-01-01 $254,915 (0.2%) $337,162 (-0.6%) 0.88 3,382
    2019-02-01 $268,950 (-2.7%) $350,342 (-3.1%) 0.91 3,140
    2019-03-01 $285,671 (2.0%) $369,901 (2.1%) 0.93 3,139
    2019-04-01 $302,445 (3.4%) $385,276 (4.6%) 0.96 3,245
    2019-05-01 $310,388 (3.5%) $391,597 (3.7%) 0.97 3,497
    2019-06-01 $324,500 (8.2%) $398,369 (5.8%) 1.01 3,671
    2019-07-01 $320,950 (7.1%) $390,746 (4.3%) 1.00 4,081
    2019-08-01 $305,355 (7.2%) $376,009 (4.7%) 0.97 4,265
    2019-09-01 $291,036 (5.9%) $362,466 (3.1%) 0.93 4,382
    2019-10-01 $279,839 (5.0%) $351,321 (1.8%) 0.90 4,460
    2019-11-01 $275,000 (5.3%) $344,898 (1.5%) 0.90 4,154
    2019-12-01 $274,900 (7.9%) $343,319 (2.2%) 0.92 3,553
    2020-01-01 $278,138 (9.1%) $345,535 (2.5%) 0.93 3,057
    2020-02-01 $294,900 (9.7%) $361,332 (3.1%) 0.97 2,576
    2020-03-01 $299,999 (5.0%) $377,072 (1.9%) 0.94 2,658
    2020-04-01 $309,450 (2.3%) $379,164 (-1.6%) 0.97 2,719
    2020-05-01 $324,000 (4.4%) $392,132 (0.1%) 0.98 2,619
    2020-06-01 $332,400 (2.4%) $406,568 (2.1%) 0.98 2,471
    2020-07-01 $329,700 (2.7%) $413,967 (5.9%) 0.96 2,343
    2020-08-01 $315,000 (3.2%) $397,470 (5.7%) 0.90 2,309
    2020-09-01 $300,057 (3.1%) $388,375 (7.2%) 0.86 2,363
    2020-10-01 $304,110 (8.7%) $385,886 (9.8%) 0.87 2,367
    2020-11-01 $307,225 (11.7%) $377,947 (9.6%) 0.90 2,222
    2020-12-01 $307,450 (11.8%) $375,110 (9.3%) 0.91 1,853
    2021-01-01 $299,900 (7.8%) $379,237 (9.8%) 0.90 1,533
    2021-02-01 $307,444 (4.3%) $394,703 (9.2%) 0.90 1,229
    2021-03-01 $316,950 (5.7%) $402,253 (6.7%) 0.90 1,279
    2021-04-01 $311,075 (0.5%) $401,018 (5.8%) 0.84 1,443
    2021-05-01 $314,617 (-2.9%) $397,943 (1.5%) 0.84 1,608
    2021-06-01 $300,000 (-9.8%) $393,956 (-3.1%) 0.79 1,858
    2021-07-01 $309,000 (-6.3%) $384,445 (-7.1%) 0.82 2,228
    2021-08-01 $299,900 (-4.8%) $377,369 (-5.1%) 0.80 2,408
    2021-09-01 $289,850 (-3.4%) $371,116 (-4.4%) 0.77 2,367
    2021-10-01 $292,500 (-3.8%) $376,094 (-2.5%) 0.78 2,296
    2021-11-01 $289,815 (-5.7%) $375,282 (-0.7%) 0.77 1,993
    2021-12-01 $289,900 (-5.7%) $385,940 (2.9%) 0.79 1,602
    2022-01-01 $299,900 (0.0%) $396,806 (4.6%) 0.81 1,344
    2022-02-01 $325,000 (5.7%) $413,562 (4.8%) 0.85 1,169
    2022-03-01 $334,925 (5.7%) $414,235 (3.0%) 0.84 1,264
    2022-04-01 $329,900 (6.1%) $417,265 (4.1%) 0.79 1,432
    2022-05-01 $349,000 (10.9%) $440,419 (10.7%) 0.80 1,722
    2022-06-01 $349,950 (16.7%) $447,265 (13.5%) 0.78 2,059
    2022-07-01 $347,000 (12.3%) $436,170 (13.5%) 0.78 2,564
    2022-08-01 $336,995 (12.4%) $428,126 (13.5%) 0.78 2,665
    2022-09-01 $339,350 (17.1%) $429,811 (15.8%) 0.79 2,613
    2022-10-01 $339,900 (16.2%) $427,314 (13.6%) 0.80 2,796
    2022-11-01 $334,900 (15.6%) $428,235 (14.1%) 0.81 2,735
    2022-12-01 $330,000 (13.8%) $436,779 (13.2%) 0.81 2,248
    2023-01-01 $347,900 (16.0%) $453,343 (14.3%) 0.86 1,900
    2023-02-01 $359,950 (10.8%) $483,825 (17.0%) 0.87 1,623
    2023-03-01 $376,874 (12.5%) $501,379 (21.0%) 0.89 1,604
    2023-04-01 $385,900 (17.0%) $506,242 (21.3%) 0.90 1,721
    2023-05-01 $393,950 (12.9%) $504,799 (14.6%) 0.89 1,851
    2023-06-01 $399,450 (14.1%) $520,054 (16.3%) 0.90 2,033
    2023-07-01 $399,000 (15.0%) $526,509 (20.7%) 0.91 2,264
    2023-08-01 $386,250 (14.6%) $516,271 (20.6%) 0.89 2,407
    2023-09-01 $379,900 (12.0%) $506,611 (17.9%) 0.88 2,510
    2023-10-01 $366,250 (7.8%) $496,529 (16.2%) 0.86 2,706
    2023-11-01 $360,000 (7.5%) $486,529 (13.6%) 0.86 2,791
    2023-12-01 $359,900 (9.1%) $476,622 (9.1%) 0.88 2,441
    2024-01-01 $369,950 (6.3%) $489,963 (8.1%) 0.90 2,133
    2024-02-01 $376,750 (4.7%) $499,157 (3.2%) 0.91 1,981
    2024-03-01 $379,900 (0.8%) $505,985 (0.9%) 0.89 1,927
    Columbus's median listing price for 2024-03-01 was $379,900, a difference of $3,026 (0.8%) versus the prior year and $3,150 versus the prior month.

    Columbus's median listing price comes in at 89% of the national average.

    Columbus's average listing price for 2024-03-01 was $505,985, a difference of $4,606 (0.9%) versus the prior year and $6,828 versus the prior month.

    For the 2024-03-01 period, Columbus had 1,927 MLS listings, a difference of -54 listings (-3%) versus the prior month and 323 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Columbus (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 76 days 1,933 sqft
    2018-02-01 66 days 2,045 sqft
    2018-03-01 37 days 2,052 sqft
    2018-04-01 33 days 2,090 sqft
    2018-05-01 31 days 2,150 sqft
    2018-06-01 31 days 2,150 sqft
    2018-07-01 37 days 2,147 sqft
    2018-08-01 36 days 2,065 sqft
    2018-09-01 43 days 2,016 sqft
    2018-10-01 50 days 1,977 sqft
    2018-11-01 51 days 1,954 sqft
    2018-12-01 62 days 1,904 sqft
    2019-01-01 72 days 1,897 sqft
    2019-02-01 64 days 1,944 sqft
    2019-03-01 44 days 2,008 sqft
    2019-04-01 33 days 2,068 sqft
    2019-05-01 32 days 2,097 sqft
    2019-06-01 33 days 2,132 sqft
    2019-07-01 37 days 2,137 sqft
    2019-08-01 38 days 2,083 sqft
    2019-09-01 41 days 2,016 sqft
    2019-10-01 43 days 1,962 sqft
    2019-11-01 50 days 1,935 sqft
    2019-12-01 63 days 1,907 sqft
    2020-01-01 68 days 1,922 sqft
    2020-02-01 44 days 1,960 sqft
    2020-03-01 37 days 1,998 sqft
    2020-04-01 39 days 1,998 sqft
    2020-05-01 46 days 2,030 sqft
    2020-06-01 38 days 2,053 sqft
    2020-07-01 32 days 2,016 sqft
    2020-08-01 29 days 1,967 sqft
    2020-09-01 26 days 1,869 sqft
    2020-10-01 30 days 1,856 sqft
    2020-11-01 36 days 1,822 sqft
    2020-12-01 44 days 1,789 sqft
    2021-01-01 44 days 1,776 sqft
    2021-02-01 29 days 1,774 sqft
    2021-03-01 20 days 1,798 sqft
    2021-04-01 12 days 1,796 sqft
    2021-05-01 10 days 1,803 sqft
    2021-06-01 12 days 1,768 sqft
    2021-07-01 16 days 1,776 sqft
    2021-08-01 19 days 1,726 sqft
    2021-09-01 24 days 1,674 sqft
    2021-10-01 28 days 1,670 sqft
    2021-11-01 32 days 1,660 sqft
    2021-12-01 39 days 1,628 sqft
    2022-01-01 38 days 1,620 sqft
    2022-02-01 25 days 1,696 sqft
    2022-03-01 15 days 1,717 sqft
    2022-04-01 10 days 1,727 sqft
    2022-05-01 12 days 1,792 sqft
    2022-06-01 15 days 1,809 sqft
    2022-07-01 21 days 1,800 sqft
    2022-08-01 27 days 1,785 sqft
    2022-09-01 31 days 1,790 sqft
    2022-10-01 30 days 1,799 sqft
    2022-11-01 37 days 1,774 sqft
    2022-12-01 50 days 1,756 sqft
    2023-01-01 55 days 1,787 sqft
    2023-02-01 39 days 1,816 sqft
    2023-03-01 30 days 1,837 sqft
    2023-04-01 23 days 1,886 sqft
    2023-05-01 22 days 1,918 sqft
    2023-06-01 23 days 1,931 sqft
    2023-07-01 25 days 1,930 sqft
    2023-08-01 26 days 1,879 sqft
    2023-09-01 30 days 1,836 sqft
    2023-10-01 31 days 1,823 sqft
    2023-11-01 38 days 1,806 sqft
    2023-12-01 49 days 1,788 sqft
    2024-01-01 55 days 1,776 sqft
    2024-02-01 38 days 1,789 sqft
    2024-03-01 29 days 1,814 sqft
    Columbus's median listing age (time on market) for 2024-03-01 was 29 days. This is -2% shorter than the same period one year ago.

    Columbus's median square footage for active listings during the 2024-03-01 period was 1,814 sqft. One year prior, the average listing was 1,837 sqft.