Fargo USDA Loan Rates, Closing Costs & Stats

FARGO, ND-MN

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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.

    Fargo's 5 lenders originated 11 USDA loans during 2023. The total origination value was $2,475,000, with an average USDA loan value of $225,000.

    Fargo USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Fargo averaged 6.61% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Fargo's average USDA mortgage closing costs are $5,154.

    The average rate for the prior week (2024-04-12) was 6.66% and one month ago for the week of 2024-03-15, the average rate was 6.35%.

    The average rate one year ago was 5.98%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.69%.

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

    Fargo 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 Fargo level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Nations Lending Corporation 3 6.33% $2,283
    TOWN AND COUNTRY Credit Union 2 5.69% $8,323
    UNITED WHOLESALE MORTGAGE, LLC 2 5.81% $17,472
    CAPITAL CREDIT UNION 1 6.63% $5,678
    NEWREZ LLC 1 5.88% $7,306

    The top Fargo USDA lender as defined by loan originations is Nations Lending Corporation, with 3 USDA loans originated. Their average total fees are $2,283, which is $6,040 lower than the next largest lender, TOWN AND COUNTRY Credit Union.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Fargo (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 $259,875 (2.4%) $302,763 (-1.4%) 0.96 848
    2018-02-01 $254,923 (-1.9%) $302,147 (-8.2%) 0.93 870
    2018-03-01 $256,731 (-4.3%) $302,402 (-9.0%) 0.90 873
    2018-04-01 $260,031 (-3.7%) $308,176 (-7.5%) 0.88 930
    2018-05-01 $260,772 (-4.9%) $309,626 (-5.2%) 0.87 1,051
    2018-06-01 $262,950 (-2.8%) $306,589 (-5.6%) 0.88 1,132
    2018-07-01 $260,028 (-2.3%) $302,992 (-6.0%) 0.87 1,167
    2018-08-01 $259,900 (2.0%) $302,860 (-0.4%) 0.87 1,206
    2018-09-01 $254,990 (1.3%) $302,135 (0.2%) 0.86 1,233
    2018-10-01 $250,672 (-0.1%) $299,192 (-0.6%) 0.85 1,217
    2018-11-01 $249,900 (-1.7%) $300,693 (1.1%) 0.85 1,154
    2018-12-01 $249,900 (-2.4%) $300,615 (1.0%) 0.86 1,014
    2019-01-01 $249,900 (-3.8%) $302,671 (0.0%) 0.86 893
    2019-02-01 $258,120 (1.3%) $307,307 (1.7%) 0.87 914
    2019-03-01 $259,734 (1.2%) $310,018 (2.5%) 0.85 984
    2019-04-01 $261,197 (0.5%) $312,610 (1.4%) 0.83 1,074
    2019-05-01 $263,125 (0.9%) $310,015 (0.1%) 0.82 1,229
    2019-06-01 $259,900 (-1.2%) $306,864 (0.1%) 0.81 1,296
    2019-07-01 $259,409 (-0.2%) $305,120 (0.7%) 0.81 1,307
    2019-08-01 $252,793 (-2.7%) $299,375 (-1.2%) 0.80 1,341
    2019-09-01 $249,634 (-2.1%) $294,773 (-2.4%) 0.80 1,366
    2019-10-01 $247,029 (-1.5%) $290,375 (-3.0%) 0.80 1,383
    2019-11-01 $245,000 (-2.0%) $287,972 (-4.2%) 0.80 1,292
    2019-12-01 $240,813 (-3.6%) $288,241 (-4.1%) 0.80 1,113
    2020-01-01 $239,945 (-4.0%) $290,503 (-4.0%) 0.80 954
    2020-02-01 $245,000 (-5.1%) $294,462 (-4.2%) 0.80 896
    2020-03-01 $249,950 (-3.8%) $295,028 (-4.8%) 0.78 925
    2020-04-01 $259,700 (-0.6%) $300,764 (-3.8%) 0.81 947
    2020-05-01 $264,900 (0.7%) $306,507 (-1.1%) 0.81 933
    2020-06-01 $269,925 (3.9%) $316,753 (3.2%) 0.80 932
    2020-07-01 $269,900 (4.0%) $317,613 (4.1%) 0.78 872
    2020-08-01 $269,900 (6.8%) $324,959 (8.6%) 0.77 875
    2020-09-01 $269,881 (8.1%) $319,652 (8.4%) 0.77 848
    2020-10-01 $269,778 (9.2%) $315,867 (8.8%) 0.77 812
    2020-11-01 $269,545 (10.0%) $310,647 (7.9%) 0.79 749
    2020-12-01 $271,912 (12.9%) $310,338 (7.7%) 0.81 662
    2021-01-01 $278,943 (16.3%) $323,634 (11.4%) 0.83 537
    2021-02-01 $295,236 (20.5%) $343,026 (16.5%) 0.86 454
    2021-03-01 $296,554 (18.7%) $338,955 (14.9%) 0.84 438
    2021-04-01 $302,000 (16.3%) $347,715 (15.6%) 0.82 455
    2021-05-01 $315,000 (18.9%) $358,070 (16.8%) 0.84 451
    2021-06-01 $318,700 (18.1%) $359,532 (13.5%) 0.84 506
    2021-07-01 $319,950 (18.5%) $357,813 (12.7%) 0.84 532
    2021-08-01 $317,400 (17.6%) $358,237 (10.2%) 0.85 560
    2021-09-01 $318,633 (18.1%) $348,420 (9.0%) 0.85 561
    2021-10-01 $327,055 (21.2%) $350,217 (10.9%) 0.87 544
    2021-11-01 $328,495 (21.9%) $351,257 (13.1%) 0.88 506
    2021-12-01 $338,995 (24.7%) $361,565 (16.5%) 0.92 416
    2022-01-01 $345,000 (23.7%) $360,013 (11.2%) 0.93 364
    2022-02-01 $349,950 (18.5%) $385,380 (12.4%) 0.91 351
    2022-03-01 $366,835 (23.7%) $429,715 (26.8%) 0.92 338
    2022-04-01 $370,000 (22.5%) $426,661 (22.7%) 0.88 378
    2022-05-01 $371,366 (17.9%) $418,168 (16.8%) 0.85 476
    2022-06-01 $362,752 (13.8%) $409,167 (13.8%) 0.81 540
    2022-07-01 $369,350 (15.4%) $419,740 (17.3%) 0.83 553
    2022-08-01 $364,325 (14.8%) $419,626 (17.1%) 0.84 571
    2022-09-01 $359,910 (13.0%) $409,412 (17.5%) 0.84 636
    2022-10-01 $354,911 (8.5%) $403,402 (15.2%) 0.84 670
    2022-11-01 $353,955 (7.8%) $404,681 (15.2%) 0.85 711
    2022-12-01 $354,900 (4.7%) $398,181 (10.1%) 0.88 680
    2023-01-01 $364,978 (5.8%) $412,112 (14.5%) 0.90 596
    2023-02-01 $377,225 (7.8%) $425,879 (10.5%) 0.91 542
    2023-03-01 $380,893 (3.8%) $434,033 (1.0%) 0.90 546
    2023-04-01 $382,465 (3.4%) $441,858 (3.6%) 0.89 551
    2023-05-01 $389,900 (5.0%) $449,183 (7.4%) 0.88 621
    2023-06-01 $389,900 (7.5%) $449,646 (9.9%) 0.88 659
    2023-07-01 $385,000 (4.2%) $441,257 (5.1%) 0.88 672
    2023-08-01 $372,546 (2.3%) $433,623 (3.3%) 0.86 735
    2023-09-01 $364,900 (1.4%) $409,719 (0.1%) 0.85 868
    2023-10-01 $357,843 (0.8%) $403,301 (0.0%) 0.84 858
    2023-11-01 $354,975 (0.3%) $403,984 (-0.2%) 0.85 861
    2023-12-01 $360,350 (1.5%) $410,772 (3.2%) 0.88 734
    2024-01-01 $359,900 (-1.4%) $413,610 (0.4%) 0.88 642
    2024-02-01 $365,000 (-3.2%) $422,950 (-0.7%) 0.88 641
    2024-03-01 $384,900 (1.1%) $435,311 (0.3%) 0.91 700
    Fargo's median listing price for 2024-03-01 was $384,900, a difference of $4,007 (1.1%) versus the prior year and $19,900 versus the prior month.

    Fargo's median listing price comes in at 91% of the national average.

    Fargo's average listing price for 2024-03-01 was $435,311, a difference of $1,278 (0.3%) versus the prior year and $12,361 versus the prior month.

    For the 2024-03-01 period, Fargo had 700 MLS listings, a difference of 59 listings (9%) versus the prior month and 154 listings (28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fargo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 88 days 2,339 sqft
    2018-02-01 48 days 2,298 sqft
    2018-03-01 53 days 2,314 sqft
    2018-04-01 46 days 2,347 sqft
    2018-05-01 39 days 2,390 sqft
    2018-06-01 40 days 2,399 sqft
    2018-07-01 49 days 2,365 sqft
    2018-08-01 55 days 2,352 sqft
    2018-09-01 58 days 2,340 sqft
    2018-10-01 65 days 2,317 sqft
    2018-11-01 73 days 2,268 sqft
    2018-12-01 85 days 2,240 sqft
    2019-01-01 86 days 2,217 sqft
    2019-02-01 78 days 2,230 sqft
    2019-03-01 60 days 2,242 sqft
    2019-04-01 46 days 2,255 sqft
    2019-05-01 39 days 2,256 sqft
    2019-06-01 46 days 2,274 sqft
    2019-07-01 57 days 2,296 sqft
    2019-08-01 58 days 2,274 sqft
    2019-09-01 60 days 2,255 sqft
    2019-10-01 61 days 2,234 sqft
    2019-11-01 69 days 2,230 sqft
    2019-12-01 87 days 2,201 sqft
    2020-01-01 95 days 2,201 sqft
    2020-02-01 91 days 2,201 sqft
    2020-03-01 65 days 2,213 sqft
    2020-04-01 59 days 2,237 sqft
    2020-05-01 57 days 2,274 sqft
    2020-06-01 45 days 2,340 sqft
    2020-07-01 46 days 2,340 sqft
    2020-08-01 51 days 2,345 sqft
    2020-09-01 50 days 2,340 sqft
    2020-10-01 57 days 2,296 sqft
    2020-11-01 67 days 2,225 sqft
    2020-12-01 83 days 2,214 sqft
    2021-01-01 71 days 2,239 sqft
    2021-02-01 47 days 2,355 sqft
    2021-03-01 47 days 2,360 sqft
    2021-04-01 36 days 2,324 sqft
    2021-05-01 33 days 2,341 sqft
    2021-06-01 32 days 2,349 sqft
    2021-07-01 38 days 2,343 sqft
    2021-08-01 44 days 2,401 sqft
    2021-09-01 53 days 2,383 sqft
    2021-10-01 60 days 2,396 sqft
    2021-11-01 62 days 2,389 sqft
    2021-12-01 80 days 2,438 sqft
    2022-01-01 75 days 2,417 sqft
    2022-02-01 58 days 2,410 sqft
    2022-03-01 56 days 2,372 sqft
    2022-04-01 38 days 2,332 sqft
    2022-05-01 30 days 2,359 sqft
    2022-06-01 34 days 2,318 sqft
    2022-07-01 44 days 2,326 sqft
    2022-08-01 46 days 2,318 sqft
    2022-09-01 43 days 2,258 sqft
    2022-10-01 51 days 2,250 sqft
    2022-11-01 58 days 2,212 sqft
    2022-12-01 71 days 2,183 sqft
    2023-01-01 86 days 2,185 sqft
    2023-02-01 86 days 2,190 sqft
    2023-03-01 62 days 2,183 sqft
    2023-04-01 57 days 2,190 sqft
    2023-05-01 53 days 2,241 sqft
    2023-06-01 51 days 2,341 sqft
    2023-07-01 53 days 2,341 sqft
    2023-08-01 57 days 2,267 sqft
    2023-09-01 57 days 2,266 sqft
    2023-10-01 61 days 2,251 sqft
    2023-11-01 60 days 2,250 sqft
    2023-12-01 72 days 2,242 sqft
    2024-01-01 76 days 2,200 sqft
    2024-02-01 46 days 2,225 sqft
    2024-03-01 51 days 2,280 sqft
    Fargo's median listing age (time on market) for 2024-03-01 was 51 days. This is -18% shorter than the same period one year ago.

    Fargo's median square footage for active listings during the 2024-03-01 period was 2,280 sqft. One year prior, the average listing was 2,183 sqft.