Des Moines USDA Loan Rates, Closing Costs & Stats

DES MOINES-WEST DES MOINES, IA

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.

Des Moines's 30 lenders originated 78 USDA loans during 2024. The total origination value was $15,410,000, with an average USDA loan value of $197,564.

Des Moines USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Des Moines averaged 0.09% for the week of 2025-07-04, compared to the national average (all USDA variants) of 0% for the same period.

Des Moines's average USDA mortgage closing costs are $4,246.

The average rate for the prior week (2025-06-27) was 6.23% and one month ago for the week of 2025-05-30, the average rate was 6.71%.

The average rate one year ago was 6.51%.

For refis of the same type during the week of 2025-07-04, the average rate was -0.18%.

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

Des Moines 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 Des Moines level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
STOCKTON MORTGAGE CORPORATION 15 6.47% $6,132
COMPASS MORTGAGE, INC. 8 6.78% $6,063
Bank Iowa 5 6.15% $5,029
GREENSTATE CREDIT UNION 3 6.12% $3,581
Barrington Bank & Trust Company, N.A. 3 5.75% $4,678
Lincoln Savings Bank 3 6.08% $4,443
GERSHMAN INVESTMENT CORP. 3 6.17% $5,418
The Central Trust Bank 3 6.58% $6,157
Fortress Bank 2 6.38% $4,510
Chickasaw Community Bank 2 7.38% $7,587
BROKER SOLUTIONS, INC. 2 6.13% $7,079
Great Southern Bank 2 6.56% $4,205
MID AMERICA MORTGAGE, INC. 1 6.88% $5,000
NEWREZ LLC 1 6.25% $4,976
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.25% $8,717
Sierra Pacific Mortgage Company, Inc. 1 6.50% $7,389
THOMPSON KANE & COMPANY, LLC 1 6.75% $4,951
AMERICAN FINANCIAL RESOURCES, INC. 1 6.50% $7,214
UNITED WHOLESALE MORTGAGE, LLC 1 6.25% $6,452
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.00% $6,348
CARDINAL FINANCIAL 1 6.25% $10,620
Century Mortgage Company DBA Century Lending Company 1 5.88% $4,192
Community Choice Credit Union 1 6.38% $6,073
DHI MORTGAGE COMPANY, LTD. 1 5.63% $4,669
FIRST COMMUNITY MORTGAGE, INC. 1 6.75% $3,436
Flagstar Bank, FSB 1 6.55% $7,219
FRONTIER FINANCIAL, INC. 1 6.63% $4,735
GUILD MORTGAGE COMPANY 1 6.13% $5,095
HOMESERVICES LENDING, LLC 1 6.87% $5,581
IOWA BANKERS MORTGAGE CORPORATION 1 6.25% $4,458

The top Des Moines USDA lender as defined by loan originations is STOCKTON MORTGAGE CORPORATION, with 15 USDA loans originated. Their average total fees are $6,132, which is $69 higher than the next largest lender, COMPASS MORTGAGE, INC..

The lowest fee Des Moines USDA lenders (with over 10 loans originated) are STOCKTON MORTGAGE CORPORATION ($6,132), .

The lowest rate Des Moines USDA lenders (with over 10 loans originated) are STOCKTON MORTGAGE CORPORATION (6.47%), .