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 0.17% for the week of 2024-11-29, 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 (2024-11-22) was 6.47% and one month ago for the week of 2024-10-25, the average rate was 6.27%.

The average rate one year ago was 7.37%.

For refis of the same type during the week of 2024-11-29, the average rate was 0.3%.

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

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 for 2024-10-01 was $299,900, a difference of $9,950 (3.4%) versus the prior year and $-13,225 versus the prior month.

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 listing age (time on market) for 2024-10-01 was 54 days. This is 3% longer than the same period one year ago.

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.