Duluth USDA Loan Rates, Closing Costs & Stats
DULUTH, MN-WI
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.
Duluth's 18 lenders originated 35 USDA loans during 2023. The total origination value was $5,475,000, with an average USDA loan value of $156,429.
Duluth USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Duluth
averaged
0.27%
for the week of 2024-11-15, compared to the national average (all USDA variants) of
0% for the same period.
Duluth's average USDA mortgage closing costs are $4,795.
The average rate for the prior week (2024-11-08) was
6.43% and
one month ago for the week of 2024-10-11, the
average rate was 6.39%.
The average rate one year ago was 7.61%.
For refis of the same type during the week of 2024-11-15, the average rate
was 0.3%.
Duluth 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 Duluth level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 5 | 6.90% | $4,985 |
| Park State Bank | 5 | 6.15% | $6,240 |
| MID AMERICA MORTGAGE, INC. | 3 | 6.00% | $4,887 |
| AMERICAN PACIFIC MORTGAGE CORPORATION | 3 | 6.83% | $7,963 |
| UNITED WHOLESALE MORTGAGE, LLC | 2 | 5.75% | $5,661 |
| BAY EQUITY LLC | 2 | 7.00% | $6,159 |
| Frandsen Bank & Trust | 2 | 6.81% | $5,356 |
| LOANDEPOT.COM, LLC | 2 | 6.69% | $8,967 |
| Royal Credit Union | 1 | 6.25% | $4,780 |
| GUILD MORTGAGE COMPANY | 1 | 7.13% | $7,866 |
| Lend Smart Mortgage, LLC | 1 | 6.63% | $4,393 |
| BROKER SOLUTIONS, INC. | 1 | 7.63% | $10,410 |
| CENTRICITY Credit Union | 1 | 6.25% | $2,116 |
| NEWREZ LLC | 1 | 6.25% | $5,320 |
| CARDINAL FINANCIAL | 1 | 7.25% | $7,040 |
| Regent Financial Group, Inc. | 1 | 6.25% | $5,320 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 6.63% | $6,328 |
| Flagstar Bank, FSB | 1 | 7.25% | $7,221 |
The top Duluth USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
5 USDA loans originated. Their average total fees are
$4,985, which is $1,255
lower than the next largest lender,
Park State Bank.
The lowest fee Duluth USDA lenders (with over 10 loans originated) are
.
The lowest rate Duluth USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Duluth (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 | $155,708 (4.2%) | $242,558 (7.1%) | 0.58 | 1,186 |
| 2018-02-01 | $159,900 (6.6%) | $250,565 (7.2%) | 0.58 | 1,171 |
| 2018-03-01 | $169,000 (5.7%) | $266,968 (11.1%) | 0.59 | 1,210 |
| 2018-04-01 | $179,075 (8.5%) | $273,661 (12.9%) | 0.61 | 1,241 |
| 2018-05-01 | $184,475 (8.6%) | $276,123 (11.0%) | 0.62 | 1,412 |
| 2018-06-01 | $185,000 (4.7%) | $271,178 (8.3%) | 0.62 | 1,673 |
| 2018-07-01 | $185,000 (5.7%) | $270,049 (5.5%) | 0.62 | 1,754 |
| 2018-08-01 | $185,000 (5.7%) | $264,911 (3.8%) | 0.62 | 1,756 |
| 2018-09-01 | $183,900 (5.5%) | $259,197 (3.1%) | 0.62 | 1,720 |
| 2018-10-01 | $179,950 (5.9%) | $259,623 (5.3%) | 0.61 | 1,670 |
| 2018-11-01 | $179,450 (12.2%) | $256,195 (6.2%) | 0.61 | 1,520 |
| 2018-12-01 | $174,500 (9.8%) | $252,744 (4.0%) | 0.60 | 1,317 |
| 2019-01-01 | $171,225 (10.0%) | $267,277 (10.2%) | 0.59 | 1,061 |
| 2019-02-01 | $170,450 (6.6%) | $265,269 (5.9%) | 0.58 | 1,010 |
| 2019-03-01 | $184,900 (9.4%) | $276,132 (3.4%) | 0.60 | 1,052 |
| 2019-04-01 | $207,175 (15.7%) | $287,002 (4.9%) | 0.66 | 1,118 |
| 2019-05-01 | $203,700 (10.4%) | $287,892 (4.3%) | 0.64 | 1,272 |
| 2019-06-01 | $200,000 (8.1%) | $283,401 (4.5%) | 0.63 | 1,459 |
| 2019-07-01 | $202,400 (9.4%) | $285,271 (5.6%) | 0.63 | 1,582 |
| 2019-08-01 | $197,173 (6.6%) | $280,197 (5.8%) | 0.62 | 1,610 |
| 2019-09-01 | $193,082 (5.0%) | $273,155 (5.4%) | 0.62 | 1,582 |
| 2019-10-01 | $192,855 (7.2%) | $268,141 (3.3%) | 0.62 | 1,538 |
| 2019-11-01 | $189,900 (5.8%) | $260,753 (1.8%) | 0.62 | 1,338 |
| 2019-12-01 | $187,000 (7.2%) | $261,368 (3.4%) | 0.62 | 1,112 |
| 2020-01-01 | $184,975 (8.0%) | $267,079 (-0.1%) | 0.62 | 917 |
| 2020-02-01 | $199,900 (17.3%) | $286,502 (8.0%) | 0.65 | 870 |
| 2020-03-01 | $218,000 (17.9%) | $304,988 (10.5%) | 0.68 | 888 |
| 2020-04-01 | $222,450 (7.4%) | $304,737 (6.2%) | 0.70 | 934 |
| 2020-05-01 | $220,000 (8.0%) | $298,922 (3.8%) | 0.67 | 1,001 |
| 2020-06-01 | $229,000 (14.5%) | $304,476 (7.4%) | 0.67 | 1,042 |
| 2020-07-01 | $229,000 (13.1%) | $310,934 (9.0%) | 0.66 | 1,025 |
| 2020-08-01 | $225,000 (14.1%) | $308,049 (9.9%) | 0.64 | 947 |
| 2020-09-01 | $222,975 (15.5%) | $306,110 (12.1%) | 0.64 | 861 |
| 2020-10-01 | $218,250 (13.2%) | $309,738 (15.5%) | 0.63 | 771 |
| 2020-11-01 | $212,300 (11.8%) | $309,310 (18.6%) | 0.62 | 665 |
| 2020-12-01 | $209,613 (12.1%) | $315,882 (20.9%) | 0.62 | 567 |
| 2021-01-01 | $199,900 (8.1%) | $328,993 (23.2%) | 0.60 | 435 |
| 2021-02-01 | $212,950 (6.5%) | $336,210 (17.4%) | 0.62 | 350 |
| 2021-03-01 | $219,225 (0.6%) | $335,536 (10.0%) | 0.62 | 348 |
| 2021-04-01 | $226,450 (1.8%) | $338,006 (10.9%) | 0.61 | 374 |
| 2021-05-01 | $218,000 (-0.9%) | $322,476 (7.9%) | 0.58 | 462 |
| 2021-06-01 | $211,250 (-7.8%) | $314,931 (3.4%) | 0.56 | 565 |
| 2021-07-01 | $209,900 (-8.3%) | $309,389 (-0.5%) | 0.55 | 592 |
| 2021-08-01 | $199,500 (-11.3%) | $291,347 (-5.4%) | 0.53 | 578 |
| 2021-09-01 | $199,225 (-10.7%) | $290,201 (-5.2%) | 0.53 | 549 |
| 2021-10-01 | $199,000 (-8.8%) | $271,909 (-12.2%) | 0.53 | 518 |
| 2021-11-01 | $198,750 (-6.4%) | $293,445 (-5.1%) | 0.53 | 416 |
| 2021-12-01 | $189,175 (-9.8%) | $294,682 (-6.7%) | 0.51 | 326 |
| 2022-01-01 | $189,900 (-5.0%) | $311,383 (-5.4%) | 0.51 | 278 |
| 2022-02-01 | $217,800 (2.3%) | $363,133 (8.0%) | 0.57 | 231 |
| 2022-03-01 | $232,975 (6.3%) | $385,653 (14.9%) | 0.58 | 223 |
| 2022-04-01 | $247,500 (9.3%) | $369,447 (9.3%) | 0.59 | 262 |
| 2022-05-01 | $254,500 (16.7%) | $377,681 (17.1%) | 0.58 | 350 |
| 2022-06-01 | $259,675 (22.9%) | $372,767 (18.4%) | 0.58 | 433 |
| 2022-07-01 | $259,900 (23.8%) | $366,039 (18.3%) | 0.59 | 528 |
| 2022-08-01 | $250,000 (25.3%) | $350,861 (20.4%) | 0.58 | 595 |
| 2022-09-01 | $252,450 (26.7%) | $351,294 (21.1%) | 0.59 | 590 |
| 2022-10-01 | $252,450 (26.9%) | $363,246 (33.6%) | 0.59 | 548 |
| 2022-11-01 | $250,000 (25.8%) | $359,012 (22.3%) | 0.60 | 495 |
| 2022-12-01 | $250,000 (32.2%) | $360,895 (22.5%) | 0.62 | 429 |
| 2023-01-01 | $259,350 (36.6%) | $364,689 (17.1%) | 0.64 | 309 |
| 2023-02-01 | $272,075 (24.9%) | $376,662 (3.7%) | 0.66 | 263 |
| 2023-03-01 | $277,000 (18.9%) | $387,118 (0.4%) | 0.65 | 258 |
| 2023-04-01 | $295,000 (19.2%) | $397,502 (7.6%) | 0.69 | 317 |
| 2023-05-01 | $312,074 (22.6%) | $415,061 (9.9%) | 0.71 | 384 |
| 2023-06-01 | $312,450 (20.3%) | $428,530 (15.0%) | 0.70 | 496 |
| 2023-07-01 | $319,450 (22.9%) | $440,725 (20.4%) | 0.73 | 586 |
| 2023-08-01 | $313,675 (25.5%) | $432,542 (23.3%) | 0.72 | 631 |
| 2023-09-01 | $305,000 (20.8%) | $426,437 (21.4%) | 0.71 | 678 |
| 2023-10-01 | $289,950 (14.9%) | $417,471 (14.9%) | 0.68 | 656 |
| 2023-11-01 | $279,450 (11.8%) | $412,034 (14.8%) | 0.67 | 586 |
| 2023-12-01 | $279,000 (11.6%) | $408,067 (13.1%) | 0.68 | 487 |
| 2024-01-01 | $248,625 (-4.1%) | $400,321 (9.8%) | 0.61 | 404 |
| 2024-02-01 | $265,925 (-2.3%) | $408,893 (8.6%) | 0.64 | 376 |
| 2024-03-01 | $297,000 (7.2%) | $416,613 (7.6%) | 0.70 | 378 |
| 2024-04-01 | $309,900 (5.1%) | $434,118 (9.2%) | 0.72 | 400 |
| 2024-05-01 | $361,225 (15.8%) | $474,049 (14.2%) | 0.82 | 487 |
| 2024-06-01 | $349,950 (12.0%) | $463,796 (8.2%) | 0.79 | 591 |
| 2024-07-01 | $335,975 (5.2%) | $444,645 (0.9%) | 0.77 | 696 |
| 2024-08-01 | $325,000 (3.6%) | $434,361 (0.4%) | 0.76 | 763 |
| 2024-09-01 | $313,125 (2.7%) | $415,426 (-2.6%) | 0.74 | 787 |
| 2024-10-01 | $299,900 (3.4%) | $408,888 (-2.1%) | 0.71 | 776 |
Duluth's median listing price comes in at 71% of the national average.
Duluth's average listing price for 2024-10-01 was $408,888, a difference of $-8,583 (-2.1%) versus the prior year and $-6,538 versus the prior month.
For the 2024-10-01 period, Duluth had 776 MLS listings, a difference of -11 listings (-1%) versus the prior month and 120 listings (18%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Duluth (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 108 days | 1,489 sqft |
| 2018-02-01 | 108 days | 1,508 sqft |
| 2018-03-01 | 78 days | 1,544 sqft |
| 2018-04-01 | 70 days | 1,568 sqft |
| 2018-05-01 | 60 days | 1,563 sqft |
| 2018-06-01 | 51 days | 1,568 sqft |
| 2018-07-01 | 59 days | 1,564 sqft |
| 2018-08-01 | 66 days | 1,561 sqft |
| 2018-09-01 | 72 days | 1,529 sqft |
| 2018-10-01 | 78 days | 1,488 sqft |
| 2018-11-01 | 86 days | 1,490 sqft |
| 2018-12-01 | 104 days | 1,456 sqft |
| 2019-01-01 | 113 days | 1,492 sqft |
| 2019-02-01 | 123 days | 1,500 sqft |
| 2019-03-01 | 107 days | 1,506 sqft |
| 2019-04-01 | 78 days | 1,548 sqft |
| 2019-05-01 | 53 days | 1,566 sqft |
| 2019-06-01 | 50 days | 1,544 sqft |
| 2019-07-01 | 57 days | 1,555 sqft |
| 2019-08-01 | 64 days | 1,527 sqft |
| 2019-09-01 | 73 days | 1,478 sqft |
| 2019-10-01 | 81 days | 1,442 sqft |
| 2019-11-01 | 95 days | 1,438 sqft |
| 2019-12-01 | 115 days | 1,443 sqft |
| 2020-01-01 | 123 days | 1,463 sqft |
| 2020-02-01 | 128 days | 1,464 sqft |
| 2020-03-01 | 110 days | 1,476 sqft |
| 2020-04-01 | 81 days | 1,501 sqft |
| 2020-05-01 | 71 days | 1,496 sqft |
| 2020-06-01 | 61 days | 1,496 sqft |
| 2020-07-01 | 54 days | 1,537 sqft |
| 2020-08-01 | 57 days | 1,536 sqft |
| 2020-09-01 | 62 days | 1,492 sqft |
| 2020-10-01 | 64 days | 1,504 sqft |
| 2020-11-01 | 69 days | 1,451 sqft |
| 2020-12-01 | 78 days | 1,454 sqft |
| 2021-01-01 | 94 days | 1,421 sqft |
| 2021-02-01 | 105 days | 1,436 sqft |
| 2021-03-01 | 72 days | 1,445 sqft |
| 2021-04-01 | 42 days | 1,515 sqft |
| 2021-05-01 | 35 days | 1,512 sqft |
| 2021-06-01 | 31 days | 1,501 sqft |
| 2021-07-01 | 39 days | 1,499 sqft |
| 2021-08-01 | 51 days | 1,425 sqft |
| 2021-09-01 | 52 days | 1,445 sqft |
| 2021-10-01 | 51 days | 1,446 sqft |
| 2021-11-01 | 57 days | 1,470 sqft |
| 2021-12-01 | 69 days | 1,446 sqft |
| 2022-01-01 | 79 days | 1,405 sqft |
| 2022-02-01 | 70 days | 1,607 sqft |
| 2022-03-01 | 53 days | 1,668 sqft |
| 2022-04-01 | 30 days | 1,638 sqft |
| 2022-05-01 | 26 days | 1,589 sqft |
| 2022-06-01 | 32 days | 1,620 sqft |
| 2022-07-01 | 34 days | 1,615 sqft |
| 2022-08-01 | 39 days | 1,567 sqft |
| 2022-09-01 | 48 days | 1,580 sqft |
| 2022-10-01 | 53 days | 1,600 sqft |
| 2022-11-01 | 59 days | 1,557 sqft |
| 2022-12-01 | 77 days | 1,545 sqft |
| 2023-01-01 | 97 days | 1,515 sqft |
| 2023-02-01 | 100 days | 1,592 sqft |
| 2023-03-01 | 80 days | 1,564 sqft |
| 2023-04-01 | 39 days | 1,558 sqft |
| 2023-05-01 | 37 days | 1,625 sqft |
| 2023-06-01 | 32 days | 1,669 sqft |
| 2023-07-01 | 34 days | 1,657 sqft |
| 2023-08-01 | 44 days | 1,667 sqft |
| 2023-09-01 | 45 days | 1,700 sqft |
| 2023-10-01 | 52 days | 1,649 sqft |
| 2023-11-01 | 62 days | 1,608 sqft |
| 2023-12-01 | 66 days | 1,588 sqft |
| 2024-01-01 | 81 days | 1,594 sqft |
| 2024-02-01 | 83 days | 1,588 sqft |
| 2024-03-01 | 47 days | 1,590 sqft |
| 2024-04-01 | 45 days | 1,619 sqft |
| 2024-05-01 | 38 days | 1,700 sqft |
| 2024-06-01 | 38 days | 1,704 sqft |
| 2024-07-01 | 39 days | 1,738 sqft |
| 2024-08-01 | 43 days | 1,728 sqft |
| 2024-09-01 | 48 days | 1,685 sqft |
| 2024-10-01 | 54 days | 1,681 sqft |
Duluth's median square footage for active listings during the 2024-10-01 period was 1,681 sqft. One year prior, the average listing was 1,649 sqft.