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%.
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 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 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.
