Columbus USDA Loan Rates, Closing Costs & Stats

COLUMBUS, OH

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 6.46% for the week of 2024-05-24, compared to the national average (all USDA variants) of 6.738% for the same period.

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

The average rate for the prior week (2024-05-17) was 6.54% and one month ago for the week of 2024-04-19, the average rate was 6.98%.

The average rate one year ago was 6.6%.

For refis of the same type during the week of 2024-05-24, the average rate was 7.1%.

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
2024-04-01 $396,950 (2.9%) $525,388 (3.8%) 0.92 2,118
Columbus's median listing price for 2024-04-01 was $396,950, a difference of $11,050 (2.9%) versus the prior year and $17,050 versus the prior month.

Columbus's median listing price comes in at 92% of the national average.

Columbus's average listing price for 2024-04-01 was $525,388, a difference of $19,146 (3.8%) versus the prior year and $19,403 versus the prior month.

For the 2024-04-01 period, Columbus had 2,118 MLS listings, a difference of 191 listings (10%) versus the prior month and 397 listings (23%) 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
2024-04-01 25 days 1,867 sqft
Columbus's median listing age (time on market) for 2024-04-01 was 25 days. This is 9% longer than the same period one year ago.

Columbus's median square footage for active listings during the 2024-04-01 period was 1,867 sqft. One year prior, the average listing was 1,886 sqft.