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 69 lenders originated 378 USDA loans during 2021. The total origination value was $70,620,000, with an average USDA loan value of $186,825.

Columbus USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Columbus averaged 6.37% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Columbus's average USDA mortgage closing costs are $5,243.

The average rate for the prior week (2022-11-25) was 6.6% and one month ago for the week of 2022-10-28, the average rate was 6.87%.

The average rate one year ago was 3.37%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.27%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
UNION HOME MORTGAGE CORP. 60 2.88% $5,569
LENDUS, LLC 32 3.10% $6,170
CALIBER HOME LOANS, INC. 28 3.00% $5,386
J. VIRGIL, INC. 23 3.20% $6,796
PRIMARY RESIDENTIAL MORTGAGE, INC. 22 2.77% $5,914
EQUITY RESOURCES, INC. 18 2.74% $4,578
CROSSCOUNTRY MORTGAGE, LLC 17 3.09% $4,111
POLARIS HOME FUNDING CORP. 12 3.26% $4,792
RUOFF MORTGAGE COMPANY, INC. 11 3.23% $4,629
T2 FINANCIAL LLC 11 3.11% $6,383
RAPID MORTGAGE COMPANY 8 3.64% $5,962
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 3.28% $5,276
PRIORITY MORTGAGE CORP. 7 2.59% $5,668
HOME POINT FINANCIAL CORPORATION 7 3.05% $4,409
Flagstar Bank, FSB 5 2.50% $4,294
Hometown Equity Mortgage, LLC 5 3.13% $4,435
MOVEMENT MORTGAGE, LLC 5 2.80% $5,579
NFM, INC. 4 3.34% $6,630
HOMESIDE FINANCIAL, LLC 4 3.06% $6,896
The Huntington National Bank 3 2.83% $5,448
The Union Bank Company 3 2.58% $4,667
CME Federal Credit Union 3 2.83% $5,157
Hometown Lenders, Inc. 3 3.54% $5,526
Carrington Mortgage Services, LLC 3 3.67% $6,529
LIBERTY HOME MORTGAGE CORPORATION 3 3.04% $7,055
PLAZA HOME MORTGAGE, INC. 3 2.46% $5,032
THE EQUITABLE MORTGAGE CORPORATION 3 2.71% $4,963
Evolve Bank & Trust 2 2.81% $4,246
NTFN, INC. 2 2.94% $4,792
First Commonwealth Bank 2 3.19% $4,194
OCEANSIDE MORTGAGE COMPANY 2 3.00% $1,257
Paramount Residential Mortgage Group, Inc. 2 3.50% $7,924
PNC Bank 2 2.81% $4,861
AMERICAN MORTGAGE SERVICE COMPANY 2 2.50% $5,417
SIWELL, INC. 2 3.94% $4,685
Union Savings Bank 2 2.75% $4,488
Equity Prime Mortgage LLC 2 3.50% $7,129
SIGNATURE MORTGAGE CORPORATION 2 3.13% $5,696
The Park National Bank 2 3.13% $5,476
AmRes Corporation 2 3.50% $6,975
Western Ohio Mortgage Corporation 1 2.75% $5,543
AMERICAN FINANCIAL NETWORK, INC. 1 3.63% $7,373
Bank of England 1 2.88% $5,581
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 4.00% $7,909
DAS Acquisition Company, LLC 1 2.75% $5,615
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.50% $4,635
FBC MORTGAGE, LLC 1 3.13% $6,737
Fifth Third Bank 1 2.75% $4,364
FIRST COMMUNITY MORTGAGE, INC. 1 2.63% $4,268
First Financial Bank 1 3.25% $5,680
First Merchants Bank 1 3.25% $4,718
GUARANTEED RATE, INC. 1 3.13% $5,099
HALLMARK HOME MORTGAGE, LLC 1 3.00% $4,767
MID AMERICA MORTGAGE, INC. 1 2.25% $2,377
PARTNERS UNITED FINANCIAL, LLC 1 3.25% $7,524
PENNYMAC LOAN SERVICES, LLC 1 3.49% $5,998
Plains Commerce Bank 1 2.75% $3,188
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.75% $7,213
PULTE MORTGAGE LLC 1 3.25% $8,482
Renasant Bank 1 2.50% $4,112
SOUTHPOINT FINANCIAL SERVICES, INC. 1 2.75% $7,341
The Merchants National Bank 1 2.88% $3,710
TOP FLITE FINANCIAL, INC. 1 2.88% $10,585
UNITED MORTGAGE CORP. 1 2.88% $4,824
UNITED WHOLESALE MORTGAGE, LLC 1 3.00% $4,500
U.S. Bank 1 3.25% $4,139
Wells Fargo Bank 1 2.88% $2,481
WesBanco Bank, Inc. 1 2.75% $4,382
1ST SIGNATURE LENDING, LLC 1 2.38% $5,946

The top Columbus USDA lender as defined by loan originations is UNION HOME MORTGAGE CORP., with 60 USDA loans originated. Their average total fees are $5,569, which is $602 lower than the next largest lender, LENDUS, LLC.

The lowest fee Columbus USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC ($4,111), EQUITY RESOURCES, INC. ($4,578), RUOFF MORTGAGE COMPANY, INC. ($4,629), POLARIS HOME FUNDING CORP. ($4,792) and CALIBER HOME LOANS, INC. ($5,386).

The lowest rate Columbus USDA lenders (with over 10 loans originated) are EQUITY RESOURCES, INC. (2.74%), PRIMARY RESIDENTIAL MORTGAGE, INC. (2.77%), UNION HOME MORTGAGE CORP. (2.88%), CALIBER HOME LOANS, INC. (3.00%) and CROSSCOUNTRY MORTGAGE, LLC (3.09%).


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 (29.5%) $339,283 (14.0%) 0.94 3,075
2018-02-01 $276,445 (34.9%) $361,458 (17.4%) 1.00 2,800
2018-03-01 $280,000 (20.7%) $362,210 (10.1%) 0.98 2,841
2018-04-01 $292,450 (17.5%) $368,446 (7.8%) 0.99 3,043
2018-05-01 $299,900 (14.9%) $377,689 (7.7%) 1.00 3,441
2018-06-01 $299,900 (14.0%) $376,350 (6.5%) 1.00 3,844
2018-07-01 $299,800 (15.4%) $374,633 (7.9%) 1.00 4,240
2018-08-01 $284,850 (9.8%) $359,166 (4.5%) 0.95 4,625
2018-09-01 $274,800 (9.9%) $351,521 (6.1%) 0.92 4,753
2018-10-01 $266,450 (6.7%) $345,100 (5.9%) 0.90 4,805
2018-11-01 $261,200 (5.4%) $339,966 (3.9%) 0.89 4,598
2018-12-01 $254,900 (4.1%) $335,781 (2.3%) 0.88 3,979
2019-01-01 $254,915 (0.2%) $337,189 (-0.6%) 0.88 3,382
2019-02-01 $268,950 (-2.7%) $350,324 (-3.1%) 0.91 3,140
2019-03-01 $285,671 (2.0%) $369,906 (2.1%) 0.93 3,145
2019-04-01 $301,340 (3.0%) $385,251 (4.6%) 0.96 3,259
2019-05-01 $307,500 (2.5%) $390,953 (3.5%) 0.96 3,521
2019-06-01 $321,417 (7.2%) $397,128 (5.5%) 1.00 3,698
2019-07-01 $319,900 (6.7%) $389,614 (4.0%) 1.00 4,107
2019-08-01 $301,791 (6.0%) $375,028 (4.4%) 0.96 4,292
2019-09-01 $289,477 (5.3%) $361,589 (2.9%) 0.93 4,409
2019-10-01 $279,450 (4.9%) $350,566 (1.6%) 0.90 4,488
2019-11-01 $274,900 (5.3%) $344,140 (1.2%) 0.90 4,183
2019-12-01 $273,900 (7.5%) $342,421 (2.0%) 0.91 3,581
2020-01-01 $277,450 (8.8%) $344,440 (2.2%) 0.93 3,086
2020-02-01 $293,250 (9.0%) $359,941 (2.7%) 0.96 2,602
2020-03-01 $299,900 (5.0%) $375,705 (1.6%) 0.94 2,685
2020-04-01 $308,600 (2.4%) $377,955 (-1.9%) 0.97 2,746
2020-05-01 $319,900 (4.0%) $390,466 (-0.1%) 0.97 2,646
2020-06-01 $329,803 (2.6%) $404,627 (1.9%) 0.97 2,500
2020-07-01 $327,250 (2.3%) $411,962 (5.7%) 0.95 2,371
2020-08-01 $314,631 (4.3%) $395,552 (5.5%) 0.90 2,335
2020-09-01 $299,900 (3.6%) $386,659 (6.9%) 0.86 2,389
2020-10-01 $300,000 (7.4%) $384,279 (9.6%) 0.86 2,392
2020-11-01 $302,500 (10.0%) $376,152 (9.3%) 0.88 2,248
2020-12-01 $304,900 (11.3%) $373,055 (9.0%) 0.91 1,879
2021-01-01 $299,250 (7.9%) $376,507 (9.3%) 0.89 1,559
2021-02-01 $303,404 (3.5%) $391,806 (8.9%) 0.88 1,256
2021-03-01 $312,400 (4.2%) $399,187 (6.3%) 0.89 1,306
2021-04-01 $307,200 (-0.5%) $398,405 (5.4%) 0.83 1,470
2021-05-01 $309,900 (-3.1%) $395,509 (1.3%) 0.82 1,635
2021-06-01 $299,950 (-9.1%) $391,975 (-3.1%) 0.79 1,885
2021-07-01 $300,000 (-8.3%) $383,104 (-7.0%) 0.79 2,253
2021-08-01 $299,900 (-4.7%) $376,138 (-4.9%) 0.80 2,434
2021-09-01 $289,450 (-3.5%) $369,884 (-4.3%) 0.77 2,393
2021-10-01 $289,999 (-3.3%) $374,676 (-2.5%) 0.77 2,320
2021-11-01 $289,422 (-4.3%) $373,866 (-0.6%) 0.77 2,018
2021-12-01 $289,835 (-4.9%) $383,852 (2.9%) 0.79 1,628
2022-01-01 $299,900 (0.2%) $394,006 (4.7%) 0.81 1,372
2022-02-01 $320,000 (5.5%) $409,872 (4.6%) 0.83 1,196
2022-03-01 $329,028 (5.3%) $410,880 (2.9%) 0.82 1,291
2022-04-01 $325,000 (5.8%) $413,920 (3.9%) 0.78 1,459
2022-05-01 $343,770 (10.9%) $438,072 (10.8%) 0.79 1,751
2022-06-01 $349,900 (16.7%) $444,897 (13.5%) 0.78 2,087
2022-07-01 $345,000 (15.0%) $434,503 (13.4%) 0.78 2,592
2022-08-01 $333,000 (11.0%) $426,567 (13.4%) 0.77 2,693
2022-09-01 $337,400 (16.6%) $428,104 (15.7%) 0.79 2,642
2022-10-01 $338,900 (16.9%) $425,831 (13.7%) 0.80 2,824
2022-11-01 $330,000 (14.0%) $426,553 (14.1%) 0.79 2,762
Columbus's median listing price for 2022-11-01 was $330,000, a difference of $40,578 (14.0%) versus the prior year and $-8,900 versus the prior month.

Columbus's median listing price comes in at 79% of the national average.

Columbus's average listing price for 2022-11-01 was $426,553, a difference of $52,687 (14.1%) versus the prior year and $722 versus the prior month.

For the 2022-11-01 period, Columbus had 2,762 MLS listings, a difference of -62 listings (-2%) versus the prior month and 744 listings (37%) 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 80 days 1,932 sqft
2018-02-01 72 days 2,044 sqft
2018-03-01 42 days 2,052 sqft
2018-04-01 36 days 2,090 sqft
2018-05-01 33 days 2,150 sqft
2018-06-01 33 days 2,151 sqft
2018-07-01 39 days 2,147 sqft
2018-08-01 37 days 2,065 sqft
2018-09-01 44 days 2,016 sqft
2018-10-01 51 days 1,977 sqft
2018-11-01 53 days 1,955 sqft
2018-12-01 64 days 1,904 sqft
2019-01-01 74 days 1,897 sqft
2019-02-01 68 days 1,944 sqft
2019-03-01 48 days 2,008 sqft
2019-04-01 35 days 2,067 sqft
2019-05-01 33 days 2,093 sqft
2019-06-01 36 days 2,129 sqft
2019-07-01 39 days 2,133 sqft
2019-08-01 40 days 2,078 sqft
2019-09-01 42 days 2,013 sqft
2019-10-01 44 days 1,961 sqft
2019-11-01 52 days 1,933 sqft
2019-12-01 66 days 1,905 sqft
2020-01-01 72 days 1,920 sqft
2020-02-01 54 days 1,954 sqft
2020-03-01 39 days 1,994 sqft
2020-04-01 42 days 1,994 sqft
2020-05-01 50 days 2,029 sqft
2020-06-01 41 days 2,050 sqft
2020-07-01 35 days 2,012 sqft
2020-08-01 31 days 1,961 sqft
2020-09-01 30 days 1,867 sqft
2020-10-01 31 days 1,856 sqft
2020-11-01 38 days 1,820 sqft
2020-12-01 46 days 1,787 sqft
2021-01-01 49 days 1,772 sqft
2021-02-01 32 days 1,771 sqft
2021-03-01 22 days 1,798 sqft
2021-04-01 14 days 1,796 sqft
2021-05-01 11 days 1,803 sqft
2021-06-01 14 days 1,764 sqft
2021-07-01 16 days 1,772 sqft
2021-08-01 20 days 1,724 sqft
2021-09-01 24 days 1,673 sqft
2021-10-01 29 days 1,668 sqft
2021-11-01 33 days 1,659 sqft
2021-12-01 42 days 1,627 sqft
2022-01-01 41 days 1,620 sqft
2022-02-01 28 days 1,694 sqft
2022-03-01 17 days 1,712 sqft
2022-04-01 11 days 1,725 sqft
2022-05-01 12 days 1,791 sqft
2022-06-01 16 days 1,806 sqft
2022-07-01 22 days 1,800 sqft
2022-08-01 29 days 1,783 sqft
2022-09-01 32 days 1,789 sqft
2022-10-01 32 days 1,796 sqft
2022-11-01 37 days 1,772 sqft
Columbus's median listing age (time on market) for 2022-11-01 was 37 days. This is 14% longer than the same period one year ago.

Columbus's median square footage for active listings during the 2022-11-01 period was 1,772 sqft. One year prior, the average listing was 1,659 sqft.