Effingham USDA Loan Rates, Closing Costs & Stats

Effingham, IL

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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.

    Effingham's 8 lenders originated 15 USDA loans during 2023. The total origination value was $2,135,000, with an average USDA loan value of $142,333.

    Effingham USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Effingham averaged 6.72% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Effingham's average USDA mortgage closing costs are $3,706.

    The average rate for the prior week (2024-04-12) was 6.37% and one month ago for the week of 2024-03-15, the average rate was 6.36%.

    The average rate one year ago was 6.09%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Effingham 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 Effingham level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Petefish, Skiles & Co. 4 6.97% $3,586
    Dieterich Bank 3 6.96% $3,633
    GUARANTEED RATE, INC. 2 6.75% $6,421
    ON Q FINANCIAL, INC. 2 6.75% $6,563
    CROSSCOUNTRY MORTGAGE, LLC 1 7.19% $3,859
    Midland States Bank 1 7.38% $6,955
    Flagstar Bank, FSB 1 6.01% $4,788
    FLAT BRANCH MORTGAGE, INC. 1 7.50% $4,900

    The top Effingham USDA lender as defined by loan originations is Petefish, Skiles & Co., with 4 USDA loans originated. Their average total fees are $3,586, which is $47 lower than the next largest lender, Dieterich Bank.

    The lowest fee Effingham USDA lenders (with over 10 loans originated) are .

    The lowest rate Effingham USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Effingham (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 $185,300 (12.9%) $239,462 (1.4%) 0.00 79
    2018-02-01 $166,150 (-2.2%) $228,282 (-7.7%) 0.00 84
    2018-03-01 $199,900 (7.9%) $238,183 (-6.2%) 0.00 102
    2018-04-01 $199,900 (8.1%) $241,687 (-5.1%) 0.00 115
    2018-05-01 $199,450 (6.1%) $238,552 (-8.3%) 0.00 126
    2018-06-01 $199,900 (9.7%) $220,654 (-10.0%) 0.00 128
    2018-07-01 $199,900 (8.1%) $219,956 (-11.7%) 0.00 128
    2018-08-01 $198,700 (10.0%) $210,187 (-15.3%) 0.00 124
    2018-09-01 $189,950 (7.4%) $208,527 (-9.0%) 0.00 128
    2018-10-01 $173,700 (-1.8%) $206,431 (-11.5%) 0.00 128
    2018-11-01 $175,725 (-1.8%) $203,560 (-15.6%) 0.00 121
    2018-12-01 $164,950 (-13.7%) $193,387 (-19.2%) 0.00 107
    2019-01-01 $149,900 (-19.1%) $189,407 (-20.9%) 0.00 103
    2019-02-01 $156,225 (-6.0%) $202,345 (-11.4%) 0.00 103
    2019-03-01 $162,714 (-18.6%) $217,097 (-8.9%) 0.00 101
    2019-04-01 $167,689 (-16.1%) $222,849 (-7.8%) 0.00 102
    2019-05-01 $174,575 (-12.5%) $237,703 (-0.4%) 0.00 108
    2019-06-01 $168,950 (-15.5%) $231,487 (4.9%) 0.00 117
    2019-07-01 $168,475 (-15.7%) $226,479 (3.0%) 0.00 124
    2019-08-01 $168,136 (-15.4%) $227,972 (8.5%) 0.00 126
    2019-09-01 $168,341 (-11.4%) $229,892 (10.3%) 0.00 131
    2019-10-01 $170,500 (-1.8%) $231,838 (12.3%) 0.00 136
    2019-11-01 $158,500 (-9.8%) $226,329 (11.2%) 0.00 140
    2019-12-01 $139,900 (-15.2%) $222,436 (15.0%) 0.00 123
    2020-01-01 $154,900 (3.3%) $217,902 (15.0%) 0.00 122
    2020-02-01 $152,400 (-2.5%) $224,540 (11.0%) 0.00 112
    2020-03-01 $169,950 (4.5%) $245,518 (13.1%) 0.00 121
    2020-04-01 $176,500 (5.3%) $246,700 (10.7%) 0.00 123
    2020-05-01 $198,750 (13.9%) $252,683 (6.3%) 0.00 113
    2020-06-01 $207,000 (22.5%) $281,999 (21.8%) 0.00 97
    2020-07-01 $207,700 (23.3%) $289,058 (27.6%) 0.00 94
    2020-08-01 $218,950 (30.2%) $295,080 (29.4%) 0.00 84
    2020-09-01 $222,000 (31.9%) $299,424 (30.3%) 0.00 85
    2020-10-01 $224,900 (31.9%) $295,877 (27.6%) 0.00 82
    2020-11-01 $182,425 (15.1%) $286,836 (26.7%) 0.00 84
    2020-12-01 $169,900 (21.4%) $274,512 (23.4%) 0.00 79
    2021-01-01 $176,450 (13.9%) $281,539 (29.2%) 0.00 61
    2021-02-01 $208,750 (37.0%) $318,895 (42.0%) 0.00 54
    2021-03-01 $209,500 (23.3%) $329,139 (34.1%) 0.00 58
    2021-04-01 $220,755 (25.1%) $350,933 (42.3%) 0.00 57
    2021-05-01 $142,500 (-28.3%) $306,687 (21.4%) 0.00 58
    2021-06-01 $187,000 (-9.7%) $320,583 (13.7%) 0.00 60
    2021-07-01 $194,950 (-6.1%) $324,875 (12.4%) 0.00 56
    2021-08-01 $187,725 (-14.3%) $307,856 (4.3%) 0.00 49
    2021-09-01 $186,500 (-16.0%) $283,295 (-5.4%) 0.00 51
    2021-10-01 $186,000 (-17.3%) $278,440 (-5.9%) 0.00 47
    2021-11-01 $189,250 (3.7%) $264,874 (-7.7%) 0.00 49
    2021-12-01 $164,900 (-2.9%) $234,643 (-14.5%) 0.00 41
    2022-01-01 $139,900 (-20.7%) $220,988 (-21.5%) 0.00 36
    2022-02-01 $164,925 (-21.0%) $252,108 (-20.9%) 0.00 29
    2022-03-01 $161,975 (-22.7%) $289,084 (-12.2%) 0.00 33
    2022-04-01 $170,000 (-23.0%) $272,287 (-22.4%) 0.00 33
    2022-05-01 $228,200 (60.1%) $313,923 (2.4%) 0.00 28
    2022-06-01 $263,725 (41.0%) $333,793 (4.1%) 0.00 24
    2022-07-01 $235,000 (20.5%) $327,731 (0.9%) 0.00 27
    2022-08-01 $147,500 (-21.4%) $239,656 (-22.2%) 0.00 38
    2022-09-01 $173,225 (-7.1%) $266,134 (-6.1%) 0.00 45
    2022-10-01 $159,900 (-14.0%) $251,539 (-9.7%) 0.00 45
    2022-11-01 $163,175 (-13.8%) $290,547 (9.7%) 0.00 45
    2022-12-01 $179,900 (9.1%) $299,513 (27.7%) 0.00 39
    2023-01-01 $226,975 (62.2%) $333,138 (50.8%) 0.00 34
    2023-02-01 $228,675 (38.7%) $344,499 (36.7%) 0.00 28
    2023-03-01 $219,625 (35.6%) $364,102 (26.0%) 0.00 27
    2023-04-01 $239,000 (40.6%) $399,037 (46.6%) 0.00 29
    2023-05-01 $321,825 (41.0%) $415,592 (32.4%) 0.00 30
    2023-06-01 $327,475 (24.2%) $445,135 (33.4%) 0.00 32
    2023-07-01 $305,000 (29.8%) $474,041 (44.6%) 0.00 39
    2023-08-01 $287,450 (94.9%) $479,314 (100.0%) 0.00 45
    2023-09-01 $325,000 (87.6%) $502,683 (88.9%) 0.00 46
    2023-10-01 $276,950 (73.2%) $475,163 (88.9%) 0.00 54
    2023-11-01 $285,700 (75.1%) $468,862 (61.4%) 0.00 54
    2023-12-01 $299,900 (66.7%) $426,504 (42.4%) 0.00 58
    2024-01-01 $323,725 (42.6%) $420,612 (26.3%) 0.00 57
    2024-02-01 $324,975 (42.1%) $415,823 (20.7%) 0.00 56
    2024-03-01 $337,450 (53.7%) $429,361 (17.9%) 0.00 47
    Effingham's median listing price for 2024-03-01 was $337,450, a difference of $117,825 (53.7%) versus the prior year and $12,475 versus the prior month.

    Effingham's median listing price comes in at 0% of the national average.

    Effingham's average listing price for 2024-03-01 was $429,361, a difference of $65,259 (17.9%) versus the prior year and $13,538 versus the prior month.

    For the 2024-03-01 period, Effingham had 47 MLS listings, a difference of -9 listings (-16%) versus the prior month and 20 listings (74%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Effingham (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,992 sqft
    2018-02-01 0 days 2,001 sqft
    2018-03-01 0 days 2,248 sqft
    2018-04-01 0 days 2,325 sqft
    2018-05-01 0 days 2,091 sqft
    2018-06-01 0 days 2,184 sqft
    2018-07-01 0 days 2,185 sqft
    2018-08-01 0 days 2,088 sqft
    2018-09-01 0 days 2,047 sqft
    2018-10-01 0 days 2,001 sqft
    2018-11-01 0 days 1,989 sqft
    2018-12-01 0 days 1,915 sqft
    2019-01-01 0 days 1,776 sqft
    2019-02-01 0 days 1,774 sqft
    2019-03-01 0 days 1,864 sqft
    2019-04-01 0 days 1,944 sqft
    2019-05-01 0 days 2,021 sqft
    2019-06-01 0 days 1,950 sqft
    2019-07-01 0 days 1,922 sqft
    2019-08-01 0 days 1,861 sqft
    2019-09-01 0 days 1,815 sqft
    2019-10-01 0 days 1,785 sqft
    2019-11-01 0 days 1,783 sqft
    2019-12-01 0 days 1,784 sqft
    2020-01-01 0 days 1,784 sqft
    2020-02-01 0 days 1,795 sqft
    2020-03-01 0 days 1,889 sqft
    2020-04-01 0 days 1,943 sqft
    2020-05-01 0 days 2,041 sqft
    2020-06-01 0 days 2,093 sqft
    2020-07-01 0 days 2,086 sqft
    2020-08-01 0 days 2,119 sqft
    2020-09-01 0 days 2,152 sqft
    2020-10-01 0 days 2,280 sqft
    2020-11-01 0 days 1,970 sqft
    2020-12-01 0 days 1,812 sqft
    2021-01-01 0 days 1,825 sqft
    2021-02-01 0 days 1,999 sqft
    2021-03-01 0 days 2,038 sqft
    2021-04-01 0 days 2,041 sqft
    2021-05-01 0 days 1,598 sqft
    2021-06-01 0 days 1,871 sqft
    2021-07-01 0 days 2,040 sqft
    2021-08-01 0 days 1,932 sqft
    2021-09-01 0 days 1,921 sqft
    2021-10-01 0 days 2,008 sqft
    2021-11-01 0 days 1,980 sqft
    2021-12-01 0 days 1,584 sqft
    2022-01-01 0 days 1,520 sqft
    2022-02-01 0 days 1,761 sqft
    2022-03-01 0 days 1,899 sqft
    2022-04-01 0 days 1,745 sqft
    2022-05-01 0 days 1,904 sqft
    2022-06-01 0 days 1,938 sqft
    2022-07-01 0 days 1,940 sqft
    2022-08-01 0 days 1,735 sqft
    2022-09-01 0 days 1,931 sqft
    2022-10-01 0 days 2,104 sqft
    2022-11-01 0 days 1,777 sqft
    2022-12-01 0 days 1,912 sqft
    2023-01-01 0 days 2,017 sqft
    2023-02-01 0 days 1,924 sqft
    2023-03-01 0 days 1,960 sqft
    2023-04-01 0 days 2,458 sqft
    2023-05-01 0 days 2,423 sqft
    2023-06-01 0 days 2,472 sqft
    2023-07-01 0 days 2,481 sqft
    2023-08-01 0 days 2,388 sqft
    2023-09-01 0 days 2,285 sqft
    2023-10-01 0 days 2,100 sqft
    2023-11-01 0 days 2,141 sqft
    2023-12-01 0 days 2,080 sqft
    2024-01-01 0 days 2,263 sqft
    2024-02-01 0 days 2,324 sqft
    2024-03-01 0 days 2,602 sqft
    Effingham's median listing age (time on market) for 2024-03-01 was 0 days.

    Effingham's median square footage for active listings during the 2024-03-01 period was 2,602 sqft. One year prior, the average listing was 1,960 sqft.