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 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.