Davenport USDA Loan Rates, Closing Costs & Stats
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL
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.
Davenport's 14 lenders originated 35 USDA loans during 2023. The total origination value was $3,995,000, with an average USDA loan value of $114,143.
Davenport USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Davenport
averaged
6.64%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Davenport's average USDA mortgage closing costs are $3,660.
The average rate for the prior week (2024-04-12) was
6.79% and
one month ago for the week of 2024-03-15, the
average rate was 6.38%.
The average rate one year ago was 6.32%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.81%.
Davenport 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 Davenport level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Community Mortgage Banc Corporation | 6 | 6.38% | $3,581 |
| RUHL MORTGAGE, LLC | 3 | 5.96% | $2,404 |
| SUCCESS MORTGAGE PARTNERS, INC. | 3 | 6.96% | $6,444 |
| BROKER SOLUTIONS, INC. | 3 | 6.58% | $6,193 |
| OPEN MORTGAGE, LLC | 2 | 6.63% | $6,873 |
| Fortress Bank | 1 | 6.25% | $3,030 |
| GERSHMAN INVESTMENT CORP. | 1 | 7.13% | $2,962 |
| IOWA BANKERS MORTGAGE CORPORATION | 1 | 6.50% | $4,959 |
| Plains Commerce Bank | 1 | 7.13% | $4,394 |
| UNION HOME MORTGAGE CORP. | 1 | 6.75% | $7,851 |
| CARDINAL FINANCIAL | 1 | 5.75% | $4,747 |
| Carrollton Bank | 1 | 6.25% | $4,421 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.25% | $7,663 |
| Flanagan State Bank | 1 | 7.13% | $5,050 |
The top Davenport USDA lender as defined by loan originations is Community Mortgage Banc Corporation, with
6 USDA loans originated. Their average total fees are
$3,581, which is $1,177
higher than the next largest lender,
RUHL MORTGAGE, LLC.
The lowest fee Davenport USDA lenders (with over 10 loans originated) are
.
The lowest rate Davenport USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Davenport (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 | $143,725 (6.5%) | $206,931 (7.3%) | 0.53 | 1,241 |
| 2018-02-01 | $143,250 (0.6%) | $206,833 (2.6%) | 0.52 | 1,198 |
| 2018-03-01 | $149,900 (3.8%) | $210,557 (2.8%) | 0.53 | 1,207 |
| 2018-04-01 | $166,475 (18.3%) | $229,432 (10.2%) | 0.56 | 1,171 |
| 2018-05-01 | $164,800 (10.3%) | $225,915 (6.7%) | 0.55 | 1,220 |
| 2018-06-01 | $167,700 (11.8%) | $226,153 (4.2%) | 0.56 | 1,309 |
| 2018-07-01 | $160,975 (7.4%) | $221,520 (2.0%) | 0.54 | 1,368 |
| 2018-08-01 | $163,950 (9.4%) | $223,513 (2.8%) | 0.55 | 1,416 |
| 2018-09-01 | $159,900 (6.7%) | $220,091 (3.9%) | 0.54 | 1,446 |
| 2018-10-01 | $155,000 (3.4%) | $214,588 (1.7%) | 0.53 | 1,441 |
| 2018-11-01 | $151,313 (0.9%) | $211,468 (-0.5%) | 0.51 | 1,423 |
| 2018-12-01 | $149,900 (0.6%) | $206,019 (-1.7%) | 0.52 | 1,318 |
| 2019-01-01 | $149,450 (4.0%) | $206,392 (-0.3%) | 0.52 | 1,195 |
| 2019-02-01 | $148,950 (4.0%) | $206,746 (0.0%) | 0.50 | 1,153 |
| 2019-03-01 | $145,857 (-2.7%) | $209,980 (-0.3%) | 0.48 | 1,155 |
| 2019-04-01 | $147,250 (-11.6%) | $213,524 (-6.9%) | 0.47 | 1,188 |
| 2019-05-01 | $149,900 (-9.0%) | $212,632 (-5.9%) | 0.47 | 1,201 |
| 2019-06-01 | $155,000 (-7.6%) | $214,857 (-5.0%) | 0.48 | 1,311 |
| 2019-07-01 | $154,750 (-3.9%) | $212,242 (-4.2%) | 0.48 | 1,330 |
| 2019-08-01 | $153,609 (-6.3%) | $210,524 (-5.8%) | 0.49 | 1,390 |
| 2019-09-01 | $151,523 (-5.2%) | $209,278 (-4.9%) | 0.48 | 1,429 |
| 2019-10-01 | $149,900 (-3.3%) | $208,447 (-2.9%) | 0.48 | 1,459 |
| 2019-11-01 | $149,900 (-0.9%) | $205,948 (-2.6%) | 0.49 | 1,437 |
| 2019-12-01 | $145,500 (-2.9%) | $200,538 (-2.7%) | 0.49 | 1,357 |
| 2020-01-01 | $144,825 (-3.1%) | $201,284 (-2.5%) | 0.48 | 1,290 |
| 2020-02-01 | $144,000 (-3.3%) | $201,898 (-2.3%) | 0.47 | 1,198 |
| 2020-03-01 | $144,975 (-0.6%) | $207,763 (-1.1%) | 0.45 | 1,103 |
| 2020-04-01 | $156,175 (6.1%) | $215,209 (0.8%) | 0.49 | 1,067 |
| 2020-05-01 | $165,000 (10.1%) | $223,799 (5.3%) | 0.50 | 1,011 |
| 2020-06-01 | $179,495 (15.8%) | $231,759 (7.9%) | 0.53 | 932 |
| 2020-07-01 | $181,923 (17.6%) | $236,031 (11.2%) | 0.53 | 892 |
| 2020-08-01 | $170,000 (10.7%) | $231,493 (10.0%) | 0.49 | 864 |
| 2020-09-01 | $176,800 (16.7%) | $232,897 (11.3%) | 0.51 | 832 |
| 2020-10-01 | $149,900 (0.0%) | $218,282 (4.7%) | 0.43 | 823 |
| 2020-11-01 | $142,500 (-4.9%) | $213,129 (3.5%) | 0.42 | 812 |
| 2020-12-01 | $141,225 (-2.9%) | $212,768 (6.1%) | 0.42 | 737 |
| 2021-01-01 | $131,950 (-8.9%) | $208,295 (3.5%) | 0.39 | 623 |
| 2021-02-01 | $130,975 (-9.1%) | $218,215 (8.1%) | 0.38 | 523 |
| 2021-03-01 | $142,450 (-1.7%) | $220,476 (6.1%) | 0.40 | 493 |
| 2021-04-01 | $165,125 (5.7%) | $231,232 (7.5%) | 0.45 | 464 |
| 2021-05-01 | $165,000 (0.0%) | $225,612 (0.8%) | 0.44 | 486 |
| 2021-06-01 | $151,125 (-15.8%) | $221,475 (-4.4%) | 0.40 | 649 |
| 2021-07-01 | $130,000 (-28.5%) | $197,664 (-16.3%) | 0.34 | 800 |
| 2021-08-01 | $128,725 (-24.3%) | $195,044 (-15.8%) | 0.34 | 823 |
| 2021-09-01 | $129,950 (-26.5%) | $195,123 (-16.2%) | 0.35 | 900 |
| 2021-10-01 | $135,000 (-9.9%) | $194,639 (-10.8%) | 0.36 | 948 |
| 2021-11-01 | $134,925 (-5.3%) | $189,684 (-11.0%) | 0.36 | 895 |
| 2021-12-01 | $129,500 (-8.3%) | $187,429 (-11.9%) | 0.35 | 806 |
| 2022-01-01 | $124,950 (-5.3%) | $180,338 (-13.4%) | 0.34 | 640 |
| 2022-02-01 | $126,000 (-3.8%) | $180,566 (-17.3%) | 0.33 | 503 |
| 2022-03-01 | $134,900 (-5.3%) | $190,461 (-13.6%) | 0.34 | 413 |
| 2022-04-01 | $142,500 (-13.7%) | $204,230 (-11.7%) | 0.34 | 407 |
| 2022-05-01 | $165,000 (0.0%) | $232,357 (3.0%) | 0.38 | 459 |
| 2022-06-01 | $175,000 (15.8%) | $237,207 (7.1%) | 0.39 | 532 |
| 2022-07-01 | $189,900 (46.1%) | $245,153 (24.0%) | 0.43 | 552 |
| 2022-08-01 | $192,000 (49.2%) | $254,836 (30.7%) | 0.44 | 567 |
| 2022-09-01 | $215,225 (65.6%) | $266,708 (36.7%) | 0.50 | 572 |
| 2022-10-01 | $195,500 (44.8%) | $254,477 (30.7%) | 0.46 | 625 |
| 2022-11-01 | $182,500 (35.3%) | $247,380 (30.4%) | 0.44 | 684 |
| 2022-12-01 | $189,900 (46.6%) | $247,772 (32.2%) | 0.47 | 625 |
| 2023-01-01 | $190,000 (52.1%) | $250,106 (38.7%) | 0.47 | 552 |
| 2023-02-01 | $201,975 (60.3%) | $248,341 (37.5%) | 0.49 | 533 |
| 2023-03-01 | $209,900 (55.6%) | $254,134 (33.4%) | 0.50 | 490 |
| 2023-04-01 | $219,950 (54.4%) | $263,259 (28.9%) | 0.51 | 495 |
| 2023-05-01 | $222,450 (34.8%) | $269,602 (16.0%) | 0.50 | 477 |
| 2023-06-01 | $234,950 (34.3%) | $275,343 (16.1%) | 0.53 | 514 |
| 2023-07-01 | $250,000 (31.7%) | $293,496 (19.7%) | 0.57 | 534 |
| 2023-08-01 | $240,450 (25.2%) | $292,502 (14.8%) | 0.55 | 560 |
| 2023-09-01 | $237,098 (10.2%) | $292,868 (9.8%) | 0.55 | 568 |
| 2023-10-01 | $238,000 (21.7%) | $288,442 (13.4%) | 0.56 | 604 |
| 2023-11-01 | $234,125 (28.3%) | $288,170 (16.5%) | 0.56 | 627 |
| 2023-12-01 | $224,900 (18.4%) | $281,567 (13.6%) | 0.55 | 597 |
| 2024-01-01 | $217,950 (14.7%) | $278,923 (11.5%) | 0.53 | 539 |
| 2024-02-01 | $211,200 (4.6%) | $280,923 (13.1%) | 0.51 | 517 |
| 2024-03-01 | $212,450 (1.2%) | $291,368 (14.7%) | 0.50 | 516 |
Davenport's median listing price comes in at 50% of the national average.
Davenport's average listing price for 2024-03-01 was $291,368, a difference of $37,234 (14.7%) versus the prior year and $10,445 versus the prior month.
For the 2024-03-01 period, Davenport had 516 MLS listings, a difference of -1 listings (0%) versus the prior month and 26 listings (5%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Davenport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 73 days | 1,509 sqft |
| 2018-02-01 | 68 days | 1,506 sqft |
| 2018-03-01 | 60 days | 1,540 sqft |
| 2018-04-01 | 51 days | 1,564 sqft |
| 2018-05-01 | 45 days | 1,543 sqft |
| 2018-06-01 | 47 days | 1,546 sqft |
| 2018-07-01 | 50 days | 1,530 sqft |
| 2018-08-01 | 51 days | 1,518 sqft |
| 2018-09-01 | 54 days | 1,513 sqft |
| 2018-10-01 | 58 days | 1,489 sqft |
| 2018-11-01 | 59 days | 1,475 sqft |
| 2018-12-01 | 65 days | 1,474 sqft |
| 2019-01-01 | 71 days | 1,474 sqft |
| 2019-02-01 | 73 days | 1,474 sqft |
| 2019-03-01 | 59 days | 1,474 sqft |
| 2019-04-01 | 40 days | 1,474 sqft |
| 2019-05-01 | 37 days | 1,477 sqft |
| 2019-06-01 | 44 days | 1,520 sqft |
| 2019-07-01 | 50 days | 1,715 sqft |
| 2019-08-01 | 54 days | 1,749 sqft |
| 2019-09-01 | 59 days | 1,753 sqft |
| 2019-10-01 | 61 days | 1,756 sqft |
| 2019-11-01 | 63 days | 1,700 sqft |
| 2019-12-01 | 72 days | 1,656 sqft |
| 2020-01-01 | 80 days | 1,638 sqft |
| 2020-02-01 | 82 days | 1,609 sqft |
| 2020-03-01 | 73 days | 1,611 sqft |
| 2020-04-01 | 72 days | 1,665 sqft |
| 2020-05-01 | 61 days | 1,699 sqft |
| 2020-06-01 | 54 days | 1,753 sqft |
| 2020-07-01 | 52 days | 1,741 sqft |
| 2020-08-01 | 45 days | 1,723 sqft |
| 2020-09-01 | 49 days | 1,723 sqft |
| 2020-10-01 | 47 days | 1,633 sqft |
| 2020-11-01 | 52 days | 1,611 sqft |
| 2020-12-01 | 60 days | 1,593 sqft |
| 2021-01-01 | 66 days | 1,566 sqft |
| 2021-02-01 | 63 days | 1,593 sqft |
| 2021-03-01 | 53 days | 1,591 sqft |
| 2021-04-01 | 41 days | 1,591 sqft |
| 2021-05-01 | 34 days | 1,597 sqft |
| 2021-06-01 | 28 days | 1,544 sqft |
| 2021-07-01 | 36 days | 1,474 sqft |
| 2021-08-01 | 41 days | 1,474 sqft |
| 2021-09-01 | 47 days | 1,490 sqft |
| 2021-10-01 | 48 days | 1,496 sqft |
| 2021-11-01 | 56 days | 1,515 sqft |
| 2021-12-01 | 65 days | 1,480 sqft |
| 2022-01-01 | 76 days | 1,463 sqft |
| 2022-02-01 | 77 days | 1,442 sqft |
| 2022-03-01 | 45 days | 1,468 sqft |
| 2022-04-01 | 38 days | 1,474 sqft |
| 2022-05-01 | 34 days | 1,579 sqft |
| 2022-06-01 | 37 days | 1,588 sqft |
| 2022-07-01 | 38 days | 1,625 sqft |
| 2022-08-01 | 43 days | 1,617 sqft |
| 2022-09-01 | 42 days | 1,604 sqft |
| 2022-10-01 | 43 days | 1,570 sqft |
| 2022-11-01 | 48 days | 1,556 sqft |
| 2022-12-01 | 59 days | 1,546 sqft |
| 2023-01-01 | 71 days | 1,549 sqft |
| 2023-02-01 | 62 days | 1,505 sqft |
| 2023-03-01 | 47 days | 1,499 sqft |
| 2023-04-01 | 47 days | 1,546 sqft |
| 2023-05-01 | 46 days | 1,549 sqft |
| 2023-06-01 | 44 days | 1,609 sqft |
| 2023-07-01 | 40 days | 1,667 sqft |
| 2023-08-01 | 40 days | 1,665 sqft |
| 2023-09-01 | 40 days | 1,677 sqft |
| 2023-10-01 | 41 days | 1,686 sqft |
| 2023-11-01 | 43 days | 1,690 sqft |
| 2023-12-01 | 51 days | 1,658 sqft |
| 2024-01-01 | 64 days | 1,622 sqft |
| 2024-02-01 | 61 days | 1,621 sqft |
| 2024-03-01 | 40 days | 1,612 sqft |
Davenport's median square footage for active listings during the 2024-03-01 period was 1,612 sqft. One year prior, the average listing was 1,499 sqft.