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 6.68% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Davenport's average USDA mortgage closing costs are $3,660.

The average rate for the prior week (2024-04-05) was 6.51% and one month ago for the week of 2024-03-08, the average rate was 6.47%.

The average rate one year ago was 6.38%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.75%.

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 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 for 2024-03-01 was $212,450, a difference of $2,550 (1.2%) versus the prior year and $1,250 versus the prior month.

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 listing age (time on market) for 2024-03-01 was 40 days. This is -15% shorter than the same period one year ago.

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.