Fairfield USDA Loan Rates, Closing Costs & Stats
Fairfield, 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.
Fairfield's 2 lenders originated 2 USDA loans during 2023. The total origination value was $350,000, with an average USDA loan value of $175,000.
Fairfield USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Fairfield
averaged
6.88%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Fairfield's average USDA mortgage closing costs are $3,725.
The average rate for the prior week (2024-04-12) was
6.53% and
one month ago for the week of 2024-03-15, the
average rate was 6.31%.
The average rate one year ago was 6.35%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.66%.
Fairfield 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 Fairfield level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| IOWA BANKERS MORTGAGE CORPORATION | 1 | 6.88% | $4,506 |
| Sierra Pacific Mortgage Company, Inc. | 1 | 6.75% | $10,374 |
The top Fairfield USDA lender as defined by loan originations is IOWA BANKERS MORTGAGE CORPORATION, with
1 USDA loans originated. Their average total fees are
$4,506, which is $5,868
lower than the next largest lender,
Sierra Pacific Mortgage Company, Inc..
The lowest fee Fairfield USDA lenders (with over 10 loans originated) are
.
The lowest rate Fairfield USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Fairfield (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 | $129,450 (-8.6%) | $206,149 (21.0%) | 0.00 | 56 |
| 2018-02-01 | $126,000 (-11.2%) | $206,441 (20.6%) | 0.00 | 54 |
| 2018-03-01 | $139,000 (-6.7%) | $218,553 (18.7%) | 0.00 | 59 |
| 2018-04-01 | $138,900 (-10.3%) | $220,895 (17.6%) | 0.00 | 55 |
| 2018-05-01 | $184,100 (24.9%) | $228,467 (16.3%) | 0.00 | 57 |
| 2018-06-01 | $177,500 (18.4%) | $218,887 (2.2%) | 0.00 | 68 |
| 2018-07-01 | $164,500 (6.1%) | $214,238 (-5.0%) | 0.00 | 75 |
| 2018-08-01 | $153,000 (2.9%) | $214,866 (-6.7%) | 0.00 | 68 |
| 2018-09-01 | $144,000 (1.2%) | $199,397 (-14.2%) | 0.00 | 72 |
| 2018-10-01 | $145,675 (5.8%) | $208,518 (-8.5%) | 0.00 | 75 |
| 2018-11-01 | $154,000 (12.4%) | $205,615 (-9.3%) | 0.00 | 76 |
| 2018-12-01 | $146,500 (10.3%) | $208,308 (0.7%) | 0.00 | 74 |
| 2019-01-01 | $149,125 (15.2%) | $213,463 (3.6%) | 0.00 | 68 |
| 2019-02-01 | $137,450 (9.1%) | $199,956 (-3.1%) | 0.00 | 73 |
| 2019-03-01 | $141,386 (1.7%) | $197,506 (-9.6%) | 0.00 | 72 |
| 2019-04-01 | $149,900 (7.9%) | $205,125 (-7.1%) | 0.00 | 74 |
| 2019-05-01 | $159,500 (-13.4%) | $222,856 (-2.5%) | 0.00 | 79 |
| 2019-06-01 | $165,000 (-7.0%) | $233,391 (6.6%) | 0.00 | 76 |
| 2019-07-01 | $159,700 (-2.9%) | $223,570 (4.4%) | 0.00 | 91 |
| 2019-08-01 | $158,636 (3.7%) | $220,014 (2.4%) | 0.00 | 90 |
| 2019-09-01 | $156,591 (8.7%) | $211,449 (6.0%) | 0.00 | 89 |
| 2019-10-01 | $155,000 (6.4%) | $205,061 (-1.7%) | 0.00 | 87 |
| 2019-11-01 | $154,900 (0.6%) | $201,357 (-2.1%) | 0.00 | 87 |
| 2019-12-01 | $152,500 (4.1%) | $187,958 (-9.8%) | 0.00 | 84 |
| 2020-01-01 | $154,200 (3.4%) | $195,907 (-8.2%) | 0.00 | 84 |
| 2020-02-01 | $154,900 (12.7%) | $204,905 (2.5%) | 0.00 | 84 |
| 2020-03-01 | $149,000 (5.4%) | $193,029 (-2.3%) | 0.00 | 86 |
| 2020-04-01 | $142,200 (-5.1%) | $188,106 (-8.3%) | 0.00 | 85 |
| 2020-05-01 | $147,700 (-7.4%) | $196,163 (-12.0%) | 0.00 | 80 |
| 2020-06-01 | $146,975 (-10.9%) | $198,537 (-14.9%) | 0.00 | 72 |
| 2020-07-01 | $143,500 (-10.1%) | $204,081 (-8.7%) | 0.00 | 65 |
| 2020-08-01 | $171,200 (7.9%) | $225,226 (2.4%) | 0.00 | 68 |
| 2020-09-01 | $179,700 (14.8%) | $228,640 (8.1%) | 0.00 | 62 |
| 2020-10-01 | $167,200 (7.9%) | $219,241 (6.9%) | 0.00 | 65 |
| 2020-11-01 | $170,950 (10.4%) | $225,110 (11.8%) | 0.00 | 59 |
| 2020-12-01 | $172,325 (13.0%) | $232,546 (23.7%) | 0.00 | 51 |
| 2021-01-01 | $165,000 (7.0%) | $228,123 (16.4%) | 0.00 | 36 |
| 2021-02-01 | $163,425 (5.5%) | $226,021 (10.3%) | 0.00 | 38 |
| 2021-03-01 | $162,150 (8.8%) | $239,814 (24.2%) | 0.00 | 36 |
| 2021-04-01 | $179,675 (26.4%) | $260,114 (38.3%) | 0.00 | 36 |
| 2021-05-01 | $202,450 (37.1%) | $259,616 (32.4%) | 0.00 | 34 |
| 2021-06-01 | $236,750 (61.1%) | $266,984 (34.5%) | 0.00 | 39 |
| 2021-07-01 | $210,000 (46.3%) | $248,480 (21.8%) | 0.00 | 45 |
| 2021-08-01 | $178,650 (4.4%) | $227,849 (1.2%) | 0.00 | 51 |
| 2021-09-01 | $169,900 (-5.5%) | $234,159 (2.4%) | 0.00 | 57 |
| 2021-10-01 | $207,000 (23.8%) | $231,053 (5.4%) | 0.00 | 47 |
| 2021-11-01 | $216,250 (26.5%) | $220,876 (-1.9%) | 0.00 | 49 |
| 2021-12-01 | $235,700 (36.8%) | $253,782 (9.1%) | 0.00 | 52 |
| 2022-01-01 | $225,000 (36.4%) | $253,454 (11.1%) | 0.00 | 48 |
| 2022-02-01 | $207,000 (26.7%) | $254,436 (12.6%) | 0.00 | 39 |
| 2022-03-01 | $207,000 (27.7%) | $263,306 (9.8%) | 0.00 | 38 |
| 2022-04-01 | $210,000 (16.9%) | $247,689 (-4.8%) | 0.00 | 40 |
| 2022-05-01 | $176,000 (-13.1%) | $235,886 (-9.1%) | 0.00 | 48 |
| 2022-06-01 | $170,825 (-27.9%) | $225,304 (-15.6%) | 0.00 | 55 |
| 2022-07-01 | $185,000 (-11.9%) | $251,407 (1.2%) | 0.00 | 62 |
| 2022-08-01 | $189,225 (5.9%) | $264,438 (16.1%) | 0.00 | 53 |
| 2022-09-01 | $189,900 (11.8%) | $295,908 (26.4%) | 0.00 | 46 |
| 2022-10-01 | $193,500 (-6.5%) | $298,150 (29.0%) | 0.00 | 44 |
| 2022-11-01 | $199,900 (-7.6%) | $307,966 (39.4%) | 0.00 | 40 |
| 2022-12-01 | $207,000 (-12.2%) | $296,563 (16.9%) | 0.00 | 43 |
| 2023-01-01 | $205,000 (-8.9%) | $318,346 (25.6%) | 0.00 | 41 |
| 2023-02-01 | $199,700 (-3.5%) | $306,263 (20.4%) | 0.00 | 38 |
| 2023-03-01 | $203,500 (-1.7%) | $292,902 (11.2%) | 0.00 | 42 |
| 2023-04-01 | $225,000 (7.1%) | $293,539 (18.5%) | 0.00 | 46 |
| 2023-05-01 | $216,225 (22.9%) | $289,797 (22.9%) | 0.00 | 45 |
| 2023-06-01 | $191,225 (11.9%) | $274,370 (21.8%) | 0.00 | 45 |
| 2023-07-01 | $179,900 (-2.8%) | $255,404 (1.6%) | 0.00 | 44 |
| 2023-08-01 | $180,725 (-4.5%) | $259,979 (-1.7%) | 0.00 | 38 |
| 2023-09-01 | $182,250 (-4.0%) | $292,049 (-1.3%) | 0.00 | 42 |
| 2023-10-01 | $197,450 (2.0%) | $315,475 (5.8%) | 0.00 | 48 |
| 2023-11-01 | $194,950 (-2.5%) | $312,921 (1.6%) | 0.00 | 51 |
| 2023-12-01 | $210,000 (1.5%) | $319,189 (7.6%) | 0.00 | 47 |
| 2024-01-01 | $200,375 (-2.3%) | $318,999 (0.2%) | 0.00 | 50 |
| 2024-02-01 | $203,425 (1.9%) | $326,936 (6.8%) | 0.00 | 47 |
| 2024-03-01 | $206,725 (1.6%) | $308,447 (5.3%) | 0.00 | 51 |
Fairfield's median listing price comes in at 0% of the national average.
Fairfield's average listing price for 2024-03-01 was $308,447, a difference of $15,545 (5.3%) versus the prior year and $-18,489 versus the prior month.
For the 2024-03-01 period, Fairfield had 51 MLS listings, a difference of 4 listings (9%) versus the prior month and 9 listings (21%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Fairfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,496 sqft |
| 2018-02-01 | 0 days | 1,505 sqft |
| 2018-03-01 | 0 days | 1,712 sqft |
| 2018-04-01 | 0 days | 1,754 sqft |
| 2018-05-01 | 0 days | 1,779 sqft |
| 2018-06-01 | 0 days | 1,767 sqft |
| 2018-07-01 | 0 days | 1,633 sqft |
| 2018-08-01 | 0 days | 1,564 sqft |
| 2018-09-01 | 0 days | 1,600 sqft |
| 2018-10-01 | 0 days | 1,538 sqft |
| 2018-11-01 | 0 days | 1,505 sqft |
| 2018-12-01 | 0 days | 1,564 sqft |
| 2019-01-01 | 0 days | 1,574 sqft |
| 2019-02-01 | 0 days | 1,606 sqft |
| 2019-03-01 | 0 days | 1,568 sqft |
| 2019-04-01 | 0 days | 1,515 sqft |
| 2019-05-01 | 0 days | 1,568 sqft |
| 2019-06-01 | 0 days | 1,660 sqft |
| 2019-07-01 | 0 days | 1,669 sqft |
| 2019-08-01 | 0 days | 1,655 sqft |
| 2019-09-01 | 0 days | 1,617 sqft |
| 2019-10-01 | 0 days | 1,587 sqft |
| 2019-11-01 | 0 days | 1,507 sqft |
| 2019-12-01 | 0 days | 1,518 sqft |
| 2020-01-01 | 0 days | 1,986 sqft |
| 2020-02-01 | 0 days | 1,584 sqft |
| 2020-03-01 | 0 days | 1,548 sqft |
| 2020-04-01 | 0 days | 1,469 sqft |
| 2020-05-01 | 0 days | 1,694 sqft |
| 2020-06-01 | 0 days | 1,679 sqft |
| 2020-07-01 | 0 days | 1,675 sqft |
| 2020-08-01 | 0 days | 1,712 sqft |
| 2020-09-01 | 0 days | 1,624 sqft |
| 2020-10-01 | 0 days | 1,588 sqft |
| 2020-11-01 | 0 days | 1,588 sqft |
| 2020-12-01 | 0 days | 1,668 sqft |
| 2021-01-01 | 0 days | 1,660 sqft |
| 2021-02-01 | 0 days | 1,609 sqft |
| 2021-03-01 | 0 days | 1,608 sqft |
| 2021-04-01 | 0 days | 1,850 sqft |
| 2021-05-01 | 0 days | 1,784 sqft |
| 2021-06-01 | 0 days | 1,748 sqft |
| 2021-07-01 | 0 days | 1,640 sqft |
| 2021-08-01 | 0 days | 1,541 sqft |
| 2021-09-01 | 0 days | 1,488 sqft |
| 2021-10-01 | 0 days | 1,479 sqft |
| 2021-11-01 | 0 days | 1,475 sqft |
| 2021-12-01 | 0 days | 1,536 sqft |
| 2022-01-01 | 0 days | 1,592 sqft |
| 2022-02-01 | 0 days | 1,602 sqft |
| 2022-03-01 | 0 days | 1,611 sqft |
| 2022-04-01 | 0 days | 1,624 sqft |
| 2022-05-01 | 0 days | 1,496 sqft |
| 2022-06-01 | 0 days | 1,425 sqft |
| 2022-07-01 | 0 days | 1,584 sqft |
| 2022-08-01 | 0 days | 1,623 sqft |
| 2022-09-01 | 0 days | 1,641 sqft |
| 2022-10-01 | 0 days | 1,640 sqft |
| 2022-11-01 | 0 days | 1,650 sqft |
| 2022-12-01 | 0 days | 1,640 sqft |
| 2023-01-01 | 0 days | 1,608 sqft |
| 2023-02-01 | 0 days | 1,620 sqft |
| 2023-03-01 | 0 days | 1,630 sqft |
| 2023-04-01 | 0 days | 1,620 sqft |
| 2023-05-01 | 0 days | 1,603 sqft |
| 2023-06-01 | 0 days | 1,539 sqft |
| 2023-07-01 | 0 days | 1,465 sqft |
| 2023-08-01 | 0 days | 1,448 sqft |
| 2023-09-01 | 0 days | 1,449 sqft |
| 2023-10-01 | 0 days | 1,463 sqft |
| 2023-11-01 | 0 days | 1,462 sqft |
| 2023-12-01 | 0 days | 1,607 sqft |
| 2024-01-01 | 0 days | 1,619 sqft |
| 2024-02-01 | 0 days | 1,591 sqft |
| 2024-03-01 | 0 days | 1,586 sqft |
Fairfield's median square footage for active listings during the 2024-03-01 period was 1,586 sqft. One year prior, the average listing was 1,630 sqft.