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 6.75% for the week of 2024-07-19, compared to the national average (all USDA variants) of 6.628% for the same period.

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

    The average rate for the prior week (2024-07-12) was 6.67% and one month ago for the week of 2024-06-14, the average rate was 6.61%.

    The average rate one year ago was 6.66%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.89%.

    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%), .