Columbus USDA Loan Rates, Closing Costs & Stats

COLUMBUS, OH

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 50 lenders originated 189 USDA loans during 2022. The total origination value was $34,135,000, with an average USDA loan value of $180,608.

    Columbus USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Columbus averaged -0.14% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

    Columbus's average USDA mortgage closing costs are $5,398.

    The average rate for the prior week (2023-11-17) was 6.76% and one month ago for the week of 2023-10-20, the average rate was 6.97%.

    The average rate one year ago was 6.31%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.47%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    J. VIRGIL, INC. 26 5.29% $7,450
    UNION HOME MORTGAGE CORP. 24 5.36% $5,763
    CROSSCOUNTRY MORTGAGE, LLC 18 5.57% $6,676
    PRIMARY RESIDENTIAL MORTGAGE, INC. 17 4.40% $7,267
    CALIBER HOME LOANS, INC. 9 5.13% $6,604
    EQUITY RESOURCES, INC. 8 4.31% $5,411
    RUOFF MORTGAGE COMPANY, INC. 7 5.89% $4,879
    POLARIS HOME FUNDING CORP. 6 5.06% $7,172
    Hometown Equity Mortgage, LLC 6 3.79% $7,612
    HOME POINT FINANCIAL CORPORATION 6 5.94% $7,677
    RAPID MORTGAGE COMPANY 4 5.63% $7,881
    NFM, INC. 4 4.72% $9,920
    Hometown Lenders, Inc. 3 4.50% $7,558
    T2 FINANCIAL LLC 3 4.79% $10,114
    DAS Acquisition Company, LLC 3 4.83% $7,825
    Union Savings Bank 3 5.42% $6,515
    UNITED WHOLESALE MORTGAGE, LLC 2 5.84% $6,464
    DHI MORTGAGE COMPANY, LTD. 2 2.25% $7,067
    Flagstar Bank, FSB 2 4.75% $4,399
    GUARANTEED RATE, INC. 2 4.13% $6,050
    PENNYMAC LOAN SERVICES, LLC 2 3.19% $7,624
    PRIORITY MORTGAGE CORP. 2 4.31% $5,997
    GSF Mortgage Corporation 1 5.13% $7,796
    HOMESIDE FINANCIAL, LLC 1 4.13% $5,285
    GENEVA FINANCIAL, LLC 1 6.88% $8,793
    FIRST OHIO HOME FINANCE, INC. 1 4.13% $3,712
    INSPIRE HOME LOANS INC. 1 4.99% $9,850
    First Financial Bank 1 4.63% $6,315
    LAKE MICHIGAN CREDIT UNION 1 3.00% $5,594
    MICHIGAN MUTUAL, INC. 1 5.13% $9,810
    MID AMERICA MORTGAGE, INC. 1 5.63% $5,557
    Mortgage Research Center, LLC 1 6.13% $2,999
    NEWREZ LLC 1 6.75% $3,142
    FirstBank 1 5.50% $5,382
    Northpointe Bank 1 3.00% $6,772
    Paramount Residential Mortgage Group, Inc. 1 4.13% $7,608
    AMERICAN MORTGAGE SERVICE COMPANY 1 5.63% $5,822
    PLAZA HOME MORTGAGE, INC. 1 2.50% $7,937
    Fifth Third Bank 1 5.25% $4,464
    Equity Prime Mortgage LLC 1 5.25% $4,104
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.38% $7,976
    Citizens Bank 1 6.25% $8,722
    Chickasaw Community Bank 1 6.50% $6,107
    CARDINAL FINANCIAL 1 5.25% $9,257
    THE EQUITABLE MORTGAGE CORPORATION 1 3.13% $4,203
    The Merchants National Bank 1 6.38% $3,929
    The Union Bank Company 1 6.25% $6,159
    Bank of England 1 4.88% $7,270
    GUARANTY HOME MORTGAGE CORPORATION 1 5.25% $6,159
    GUILD MORTGAGE COMPANY 1 4.38% $5,059

    The top Columbus USDA lender as defined by loan originations is J. VIRGIL, INC., with 26 USDA loans originated. Their average total fees are $7,450, which is $1,688 higher than the next largest lender, UNION HOME MORTGAGE CORP..

    The lowest fee Columbus USDA lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. ($5,763), CROSSCOUNTRY MORTGAGE, LLC ($6,676), PRIMARY RESIDENTIAL MORTGAGE, INC. ($7,267), J. VIRGIL, INC. ($7,450) and .

    The lowest rate Columbus USDA lenders (with over 10 loans originated) are PRIMARY RESIDENTIAL MORTGAGE, INC. (4.40%), J. VIRGIL, INC. (5.29%), UNION HOME MORTGAGE CORP. (5.36%), CROSSCOUNTRY MORTGAGE, LLC (5.57%) and .

    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%) $337,146 (-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%) $369,940 (2.1%) 0.93 3,138
    2019-04-01 $302,445 (3.4%) $385,380 (4.6%) 0.96 3,243
    2019-05-01 $309,900 (3.3%) $391,558 (3.7%) 0.97 3,498
    2019-06-01 $324,500 (8.2%) $398,261 (5.8%) 1.01 3,673
    2019-07-01 $320,950 (7.1%) $390,629 (4.3%) 1.00 4,084
    2019-08-01 $305,355 (7.2%) $375,954 (4.7%) 0.97 4,267
    2019-09-01 $291,036 (5.9%) $362,397 (3.1%) 0.93 4,385
    2019-10-01 $279,900 (5.1%) $351,277 (1.8%) 0.90 4,463
    2019-11-01 $275,000 (5.3%) $344,861 (1.4%) 0.90 4,158
    2019-12-01 $274,888 (7.8%) $343,176 (2.2%) 0.92 3,557
    2020-01-01 $277,520 (8.9%) $345,413 (2.5%) 0.93 3,061
    2020-02-01 $294,625 (9.6%) $361,260 (3.1%) 0.97 2,577
    2020-03-01 $299,998 (5.0%) $376,994 (1.9%) 0.94 2,659
    2020-04-01 $309,450 (2.3%) $379,085 (-1.6%) 0.97 2,720
    2020-05-01 $323,950 (4.5%) $392,046 (0.1%) 0.98 2,620
    2020-06-01 $332,400 (2.4%) $406,467 (2.1%) 0.98 2,472
    2020-07-01 $329,700 (2.7%) $413,812 (5.9%) 0.96 2,344
    2020-08-01 $314,900 (3.1%) $397,302 (5.7%) 0.90 2,309
    2020-09-01 $300,164 (3.1%) $388,358 (7.2%) 0.86 2,363
    2020-10-01 $304,505 (8.8%) $385,943 (9.9%) 0.87 2,366
    2020-11-01 $307,225 (11.7%) $377,914 (9.6%) 0.90 2,222
    2020-12-01 $307,450 (11.9%) $375,073 (9.3%) 0.92 1,853
    2021-01-01 $299,900 (8.1%) $379,199 (9.8%) 0.90 1,532
    2021-02-01 $307,444 (4.4%) $394,703 (9.3%) 0.90 1,229
    2021-03-01 $316,825 (5.6%) $402,179 (6.7%) 0.90 1,279
    2021-04-01 $310,782 (0.4%) $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%) $377,360 (-5.0%) 0.80 2,409
    2021-09-01 $289,850 (-3.4%) $371,116 (-4.4%) 0.77 2,367
    2021-10-01 $292,500 (-3.9%) $376,094 (-2.6%) 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%) $396,775 (4.6%) 0.81 1,345
    2022-02-01 $325,000 (5.7%) $413,542 (4.8%) 0.85 1,169
    2022-03-01 $334,900 (5.7%) $414,162 (3.0%) 0.84 1,264
    2022-04-01 $329,900 (6.2%) $417,289 (4.1%) 0.79 1,432
    2022-05-01 $349,125 (11.0%) $440,906 (10.8%) 0.80 1,725
    2022-06-01 $349,950 (16.7%) $447,505 (13.6%) 0.78 2,060
    2022-07-01 $347,000 (12.3%) $436,451 (13.5%) 0.78 2,565
    2022-08-01 $336,995 (12.4%) $428,344 (13.5%) 0.78 2,663
    2022-09-01 $338,750 (16.9%) $429,981 (15.9%) 0.79 2,611
    2022-10-01 $339,900 (16.2%) $427,505 (13.7%) 0.80 2,793
    2022-11-01 $334,675 (15.5%) $428,232 (14.1%) 0.80 2,733
    2022-12-01 $330,000 (13.8%) $436,782 (13.2%) 0.81 2,246
    2023-01-01 $347,900 (16.0%) $453,357 (14.3%) 0.86 1,898
    2023-02-01 $359,950 (10.8%) $483,851 (17.0%) 0.87 1,622
    2023-03-01 $376,874 (12.5%) $501,285 (21.0%) 0.89 1,604
    2023-04-01 $385,900 (17.0%) $506,205 (21.3%) 0.90 1,723
    2023-05-01 $393,950 (12.8%) $504,786 (14.5%) 0.89 1,851
    2023-06-01 $399,450 (14.1%) $520,101 (16.2%) 0.90 2,034
    2023-07-01 $399,000 (15.0%) $526,476 (20.6%) 0.91 2,266
    2023-08-01 $386,250 (14.6%) $516,229 (20.5%) 0.89 2,409
    2023-09-01 $379,900 (12.2%) $506,827 (17.9%) 0.88 2,513
    2023-10-01 $366,706 (7.9%) $496,911 (16.2%) 0.86 2,710
    Columbus's median listing price for 2023-10-01 was $366,706, a difference of $26,806 (7.9%) versus the prior year and $-13,194 versus the prior month.

    Columbus's median listing price comes in at 86% of the national average.

    Columbus's average listing price for 2023-10-01 was $496,911, a difference of $69,406 (16.2%) versus the prior year and $-9,916 versus the prior month.

    For the 2023-10-01 period, Columbus had 2,710 MLS listings, a difference of 197 listings (8%) versus the prior month and -83 listings (-3%) 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 2,151 sqft
    2018-06-01 31 days 2,152 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 2,096 sqft
    2019-06-01 33 days 2,133 sqft
    2019-07-01 37 days 2,137 sqft
    2019-08-01 38 days 2,083 sqft
    2019-09-01 40 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 45 days 1,959 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 2,015 sqft
    2020-08-01 29 days 1,964 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 1,797 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 1,715 sqft
    2022-04-01 10 days 1,727 sqft
    2022-05-01 12 days 1,792 sqft
    2022-06-01 16 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 1,791 sqft
    2022-10-01 30 days 1,796 sqft
    2022-11-01 37 days 1,774 sqft
    2022-12-01 50 days 1,752 sqft
    2023-01-01 55 days 1,786 sqft
    2023-02-01 39 days 1,814 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 1,930 sqft
    2023-07-01 25 days 1,930 sqft
    2023-08-01 26 days 1,879 sqft
    2023-09-01 30 days 1,837 sqft
    2023-10-01 31 days 1,823 sqft
    Columbus's median listing age (time on market) for 2023-10-01 was 31 days. This is 2% longer than the same period one year ago.

    Columbus's median square footage for active listings during the 2023-10-01 period was 1,823 sqft. One year prior, the average listing was 1,796 sqft.