Decatur USDA Loans

DECATUR, 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.

Decatur's 9 lenders originated 19 USDA loans during 2021. The total origination value was $2,405,000, with an average USDA loan value of $126,579.

Decatur USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Decatur averaged 5.58% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.52% and one month ago for the week of 2022-04-08, the average rate was 4.88%.

The average rate one year ago was 3.39%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.32%.

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

Decatur USDA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Decatur level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
DRAPER AND KRAMER MORTGAGE CORP. 5 2.45% $4,384
Town & Country Banc Mortgage Services, Inc. 5 3.10% $3,194
CITIZENS EQUITY FIRST 2 3.00% $2,057
Community Mortgage Banc Corporation 2 3.25% $3,660
FIRST STATE MORTGAGE SERVICES, LLC 1 3.25% $3,941
FLAT BRANCH MORTGAGE, INC. 1 2.63% $3,440
INB 1 3.13% $3,646
Regions Bank 1 3.25% $4,839
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.38% $4,552

The top Decatur USDA lender as defined by loan originations is DRAPER AND KRAMER MORTGAGE CORP., with 5 USDA loans originated. Their average total fees are $4,384, which is $1,190 higher than the next largest lender, Town & Country Banc Mortgage Services, Inc..

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Decatur (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 $89,950 (0.1%) $116,728 (-9.1%) 0.00 598
2018-02-01 $90,700 (1.1%) $121,336 (-4.8%) 0.00 580
2018-03-01 $89,900 (0.0%) $121,821 (-5.8%) 0.00 564
2018-04-01 $95,000 (0.3%) $126,770 (-5.8%) 0.00 562
2018-05-01 $97,900 (-0.3%) $129,251 (-7.2%) 0.00 567
2018-06-01 $96,500 (-3.4%) $131,362 (-6.1%) 0.00 558
2018-07-01 $96,500 (-2.5%) $132,118 (-0.6%) 0.00 598
2018-08-01 $97,200 (-2.5%) $137,894 (2.6%) 0.00 613
2018-09-01 $90,000 (-9.6%) $133,854 (1.3%) 0.00 604
2018-10-01 $90,200 (-0.6%) $135,554 (8.0%) 0.00 587
2018-11-01 $94,700 (1.3%) $134,567 (7.7%) 0.00 561
2018-12-01 $93,000 (3.5%) $133,883 (12.9%) 0.00 515
2019-01-01 $93,000 (3.4%) $134,936 (15.6%) 0.00 477
2019-02-01 $104,450 (15.2%) $143,797 (18.5%) 0.00 435
2019-03-01 $104,186 (15.9%) $142,384 (16.9%) 0.00 431
2019-04-01 $112,200 (18.1%) $147,099 (16.0%) 0.00 427
2019-05-01 $114,200 (16.7%) $158,004 (22.3%) 0.00 441
2019-06-01 $111,897 (16.0%) $155,416 (18.3%) 0.00 534
2019-07-01 $109,850 (13.8%) $149,591 (13.2%) 0.00 551
2019-08-01 $107,957 (11.1%) $147,623 (7.1%) 0.00 549
2019-09-01 $107,657 (19.6%) $147,259 (10.0%) 0.00 533
2019-10-01 $107,450 (19.1%) $145,484 (7.3%) 0.00 516
2019-11-01 $104,000 (9.8%) $139,812 (3.9%) 0.00 484
2019-12-01 $99,900 (7.4%) $139,085 (3.9%) 0.00 420
2020-01-01 $96,000 (3.2%) $131,908 (-2.2%) 0.00 382
2020-02-01 $98,900 (-5.3%) $132,721 (-7.7%) 0.00 349
2020-03-01 $108,400 (4.0%) $138,167 (-3.0%) 0.00 352
2020-04-01 $104,950 (-6.5%) $136,931 (-6.9%) 0.00 329
2020-05-01 $112,000 (-1.9%) $146,239 (-7.5%) 0.00 307
2020-06-01 $115,000 (2.8%) $156,361 (0.6%) 0.00 259
2020-07-01 $110,500 (0.6%) $148,359 (-0.8%) 0.00 289
2020-08-01 $99,900 (-7.5%) $144,863 (-1.9%) 0.00 266
2020-09-01 $103,949 (-3.4%) $143,149 (-2.8%) 0.00 249
2020-10-01 $100,000 (-6.9%) $143,342 (-1.5%) 0.00 227
2020-11-01 $98,000 (-5.8%) $136,953 (-2.0%) 0.00 238
2020-12-01 $89,900 (-10.0%) $128,931 (-7.3%) 0.00 232
2021-01-01 $89,900 (-6.4%) $128,097 (-2.9%) 0.00 211
2021-02-01 $91,500 (-7.5%) $133,279 (0.4%) 0.00 180
2021-03-01 $97,450 (-10.1%) $143,238 (3.7%) 0.00 155
2021-04-01 $92,000 (-12.3%) $145,783 (6.5%) 0.00 142
2021-05-01 $105,000 (-6.3%) $169,505 (15.9%) 0.00 148
2021-06-01 $99,900 (-13.1%) $177,761 (13.7%) 0.00 141
2021-07-01 $91,000 (-17.7%) $177,518 (19.7%) 0.00 146
2021-08-01 $89,900 (-10.0%) $170,583 (17.8%) 0.00 168
2021-09-01 $104,900 (0.9%) $179,358 (25.3%) 0.00 187
2021-10-01 $110,900 (10.9%) $172,600 (20.4%) 0.00 183
2021-11-01 $105,950 (8.1%) $159,967 (16.8%) 0.00 170
2021-12-01 $99,899 (11.1%) $153,976 (19.4%) 0.00 167
2022-01-01 $94,500 (5.1%) $140,699 (9.8%) 0.00 147
2022-02-01 $89,900 (-1.8%) $145,560 (9.2%) 0.00 141
2022-03-01 $87,000 (-10.7%) $148,411 (3.6%) 0.00 130
2022-04-01 $89,900 (-2.3%) $170,882 (17.2%) 0.00 136
Decatur's median listing price for 2022-04-01 was $89,900, a difference of $-2,100 (-2.3%) versus the prior year and $2,900 versus the prior month.

Decatur's median listing price comes in at 0% of the national average.

Decatur's average listing price for 2022-04-01 was $170,882, a difference of $25,099 (17.2%) versus the prior year and $22,471 versus the prior month.

For the 2022-04-01 period, Decatur had 136 MLS listings, a difference of 6 listings (5%) versus the prior month and -6 listings (-4%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Decatur (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,610 sqft
2018-02-01 0 days 1,638 sqft
2018-03-01 0 days 1,649 sqft
2018-04-01 0 days 1,717 sqft
2018-05-01 0 days 1,679 sqft
2018-06-01 0 days 1,717 sqft
2018-07-01 0 days 1,666 sqft
2018-08-01 0 days 1,665 sqft
2018-09-01 0 days 1,656 sqft
2018-10-01 0 days 1,667 sqft
2018-11-01 0 days 1,656 sqft
2018-12-01 0 days 1,636 sqft
2019-01-01 0 days 1,640 sqft
2019-02-01 0 days 1,749 sqft
2019-03-01 0 days 1,754 sqft
2019-04-01 0 days 1,790 sqft
2019-05-01 0 days 1,795 sqft
2019-06-01 0 days 1,787 sqft
2019-07-01 0 days 1,759 sqft
2019-08-01 0 days 1,761 sqft
2019-09-01 0 days 1,767 sqft
2019-10-01 0 days 1,770 sqft
2019-11-01 0 days 1,728 sqft
2019-12-01 0 days 1,718 sqft
2020-01-01 0 days 1,670 sqft
2020-02-01 0 days 1,713 sqft
2020-03-01 0 days 1,789 sqft
2020-04-01 0 days 1,729 sqft
2020-05-01 0 days 1,765 sqft
2020-06-01 0 days 1,832 sqft
2020-07-01 0 days 1,754 sqft
2020-08-01 0 days 1,750 sqft
2020-09-01 0 days 1,783 sqft
2020-10-01 0 days 1,794 sqft
2020-11-01 0 days 1,716 sqft
2020-12-01 0 days 1,622 sqft
2021-01-01 0 days 1,561 sqft
2021-02-01 0 days 1,592 sqft
2021-03-01 0 days 1,633 sqft
2021-04-01 0 days 1,657 sqft
2021-05-01 0 days 1,718 sqft
2021-06-01 0 days 1,675 sqft
2021-07-01 0 days 1,644 sqft
2021-08-01 0 days 1,653 sqft
2021-09-01 0 days 1,623 sqft
2021-10-01 0 days 1,633 sqft
2021-11-01 0 days 1,551 sqft
2021-12-01 0 days 1,605 sqft
2022-01-01 0 days 1,492 sqft
2022-02-01 0 days 1,453 sqft
2022-03-01 0 days 1,399 sqft
2022-04-01 0 days 1,312 sqft
Decatur's median listing age (time on market) for 2022-04-01 was 0 days.

Decatur's median square footage for active listings during the 2022-04-01 period was 1,312 sqft. One year prior, the average listing was 1,657 sqft.