Duluth USDA Loan Rates, Closing Costs & Stats

DULUTH, MN-WI

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    • 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 6.73% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Duluth's average USDA mortgage closing costs are $4,795.

    The average rate for the prior week (2024-04-12) was 6.59% and one month ago for the week of 2024-03-15, the average rate was 6.47%.

    The average rate one year ago was 6.21%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

    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
    Duluth's median listing price for 2024-03-01 was $297,000, a difference of $20,000 (7.2%) versus the prior year and $31,075 versus the prior month.

    Duluth's median listing price comes in at 70% of the national average.

    Duluth's average listing price for 2024-03-01 was $416,613, a difference of $29,495 (7.6%) versus the prior year and $7,720 versus the prior month.

    For the 2024-03-01 period, Duluth had 378 MLS listings, a difference of 2 listings (1%) versus the prior month and 120 listings (47%) 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
    Duluth's median listing age (time on market) for 2024-03-01 was 47 days. This is -41% shorter than the same period one year ago.

    Duluth's median square footage for active listings during the 2024-03-01 period was 1,590 sqft. One year prior, the average listing was 1,564 sqft.