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 18 lenders originated 31 USDA loans during 2024. The total origination value was $4,295,000, with an average USDA loan value of $138,548.

Davenport USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Davenport averaged -0.03% for the week of 2025-06-20, compared to the national average (all USDA variants) of 0% for the same period.

Davenport's average USDA mortgage closing costs are $3,737.

The average rate for the prior week (2025-06-13) was 6.67% and one month ago for the week of 2025-05-16, the average rate was 6.73%.

The average rate one year ago was 6.85%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.35%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Community Mortgage Banc Corporation 3 6.21% $4,061
First Federal Bank 3 6.63% $3,993
Equity Prime Mortgage LLC 3 6.79% $3,634
NEWREZ LLC 2 7.25% $3,283
American Bank and Trust Company 2 6.18% $5,743
Plains Commerce Bank 2 6.63% $3,248
RUHL MORTGAGE, LLC 2 5.62% $3,964
HOMESIDE FINANCIAL, LLC 2 6.44% $5,123
Flanagan State Bank 2 6.81% $7,257
UNITED WHOLESALE MORTGAGE, LLC 1 6.69% $4,433
CALCON MUTUAL MORTGAGE LLC 1 6.38% $4,700
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $11,213
GUILD MORTGAGE COMPANY 1 6.38% $7,583
LOANDEPOT.COM, LLC 1 6.75% $7,171
MICHIGAN MUTUAL, INC. 1 6.25% $5,443
Mortgage Research Center, LLC 1 6.75% $1,932
Old National Bank 1 6.00% $3,752
SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $10,087

The top Davenport USDA lender as defined by loan originations is Community Mortgage Banc Corporation, with 3 USDA loans originated. Their average total fees are $4,061, which is $69 higher than the next largest lender, First Federal Bank.

The lowest fee Davenport USDA lenders (with over 10 loans originated) are .

The lowest rate Davenport USDA lenders (with over 10 loans originated) are .