Fargo USDA Loans
FARGO, ND-MN
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 18 lenders originated 54 USDA loans during 2021. The total origination value was $11,260,000, with an average USDA loan value of $208,519.
Fargo USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Fargo
averaged
5.12%
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was
5.05% and
one month ago for the week of 2022-04-08, the
average rate was 4.61%.
The average rate one year ago was 3.12%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.19%.
Fargo USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Fargo level.
| Name | # of Loans | 2021 Avg. 30yFix Rate | 2021 Avg. Total Fees |
|---|---|---|---|
| TOWN AND COUNTRY Credit Union | 9 | 2.46% | $4,760 |
| Bell Bank | 7 | 2.54% | $4,081 |
| VALLEY MORTGAGE, INC. | 7 | 2.54% | $4,091 |
| Flagstar Bank, FSB | 4 | 2.75% | $6,079 |
| First Western Bank & Trust | 4 | 2.34% | $6,096 |
| UNITED WHOLESALE MORTGAGE, LLC | 3 | 2.47% | $4,990 |
| CALIBER HOME LOANS, INC. | 2 | 2.69% | $5,106 |
| FINANCE OF AMERICA MORTGAGE LLC | 2 | 2.88% | $5,729 |
| Gate City Bank | 2 | 2.69% | $6,694 |
| Bremer Bank | 2 | 2.78% | $5,176 |
| CRESCENT MORTGAGE COMPANY | 1 | 2.50% | $4,880 |
| Goldwater Bank, N.A. | 1 | 2.75% | $6,003 |
| HOME POINT FINANCIAL CORPORATION | 1 | 3.13% | $5,734 |
| PARKSIDE LENDING, LLC | 1 | 2.88% | $4,941 |
| Servion, Inc. | 1 | 3.38% | $7,097 |
| CAPITAL CREDIT UNION | 1 | 2.63% | $4,967 |
| First Savings Bank | 1 | 3.13% | $5,098 |
| FIRST COMMUNITY CREDIT UNION | 1 | 2.25% | $5,808 |
The top Fargo USDA lender as defined by loan originations is TOWN AND COUNTRY Credit Union, with
9 USDA loans originated. Their average total fees are
$4,760, which is $679
higher than the next largest lender,
Bell Bank.
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 | $258,950 (2.0%) | $302,644 (-1.2%) | 0.95 | 869 |
| 2018-02-01 | $254,900 (-1.9%) | $300,847 (-8.0%) | 0.92 | 898 |
| 2018-03-01 | $257,539 (-2.8%) | $300,877 (-8.8%) | 0.89 | 907 |
| 2018-04-01 | $261,484 (-3.1%) | $307,367 (-7.2%) | 0.88 | 958 |
| 2018-05-01 | $261,650 (-3.8%) | $308,048 (-5.2%) | 0.87 | 1,087 |
| 2018-06-01 | $263,000 (-2.6%) | $305,395 (-5.7%) | 0.88 | 1,179 |
| 2018-07-01 | $260,332 (-2.9%) | $302,429 (-6.0%) | 0.87 | 1,199 |
| 2018-08-01 | $259,900 (2.3%) | $303,026 (0.4%) | 0.87 | 1,229 |
| 2018-09-01 | $255,000 (2.0%) | $304,109 (1.3%) | 0.85 | 1,257 |
| 2018-10-01 | $250,000 (0.0%) | $300,551 (1.0%) | 0.84 | 1,246 |
| 2018-11-01 | $249,900 (-1.0%) | $302,556 (2.2%) | 0.84 | 1,179 |
| 2018-12-01 | $249,900 (-2.0%) | $301,161 (1.9%) | 0.86 | 1,037 |
| 2019-01-01 | $249,950 (-3.5%) | $301,974 (-0.2%) | 0.86 | 911 |
| 2019-02-01 | $257,450 (1.0%) | $306,055 (1.7%) | 0.86 | 930 |
| 2019-03-01 | $260,900 (1.3%) | $310,212 (3.1%) | 0.85 | 999 |
| 2019-04-01 | $264,296 (1.1%) | $314,616 (2.4%) | 0.83 | 1,088 |
| 2019-05-01 | $263,000 (0.5%) | $310,529 (0.8%) | 0.81 | 1,248 |
| 2019-06-01 | $259,900 (-1.2%) | $307,808 (0.8%) | 0.80 | 1,316 |
| 2019-07-01 | $259,639 (-0.3%) | $306,437 (1.3%) | 0.81 | 1,326 |
| 2019-08-01 | $252,814 (-2.7%) | $300,070 (-1.0%) | 0.80 | 1,349 |
| 2019-09-01 | $249,900 (-2.0%) | $294,711 (-3.1%) | 0.79 | 1,363 |
| 2019-10-01 | $249,000 (-0.4%) | $290,600 (-3.3%) | 0.79 | 1,409 |
| 2019-11-01 | $247,000 (-1.2%) | $288,114 (-4.8%) | 0.80 | 1,321 |
| 2019-12-01 | $243,700 (-2.5%) | $288,268 (-4.3%) | 0.81 | 1,138 |
| 2020-01-01 | $239,945 (-4.0%) | $290,633 (-3.8%) | 0.80 | 975 |
| 2020-02-01 | $245,000 (-4.8%) | $293,703 (-4.0%) | 0.79 | 917 |
| 2020-03-01 | $250,113 (-4.1%) | $294,615 (-5.0%) | 0.78 | 945 |
| 2020-04-01 | $259,000 (-2.0%) | $298,760 (-5.0%) | 0.81 | 966 |
| 2020-05-01 | $263,720 (0.3%) | $305,026 (-1.8%) | 0.80 | 953 |
| 2020-06-01 | $269,950 (3.9%) | $315,075 (2.4%) | 0.79 | 954 |
| 2020-07-01 | $269,900 (4.0%) | $316,484 (3.3%) | 0.77 | 900 |
| 2020-08-01 | $269,900 (6.8%) | $323,789 (7.9%) | 0.77 | 905 |
| 2020-09-01 | $267,967 (7.2%) | $316,071 (7.3%) | 0.77 | 879 |
| 2020-10-01 | $268,000 (7.6%) | $311,580 (7.2%) | 0.77 | 847 |
| 2020-11-01 | $265,628 (7.5%) | $307,664 (6.8%) | 0.76 | 772 |
| 2020-12-01 | $271,229 (11.3%) | $308,115 (6.9%) | 0.80 | 683 |
| 2021-01-01 | $279,000 (16.3%) | $321,226 (10.5%) | 0.82 | 556 |
| 2021-02-01 | $294,900 (20.4%) | $340,909 (16.1%) | 0.85 | 464 |
| 2021-03-01 | $295,750 (18.3%) | $337,693 (14.6%) | 0.83 | 450 |
| 2021-04-01 | $301,600 (16.5%) | $345,804 (15.8%) | 0.81 | 464 |
| 2021-05-01 | $314,299 (19.2%) | $358,419 (17.5%) | 0.83 | 458 |
| 2021-06-01 | $317,150 (17.5%) | $356,998 (13.3%) | 0.82 | 509 |
| 2021-07-01 | $314,951 (16.7%) | $354,382 (12.0%) | 0.82 | 540 |
| 2021-08-01 | $317,200 (17.5%) | $357,955 (10.6%) | 0.83 | 580 |
| 2021-09-01 | $318,473 (18.9%) | $350,271 (10.8%) | 0.84 | 581 |
| 2021-10-01 | $326,775 (21.9%) | $350,023 (12.3%) | 0.86 | 555 |
| 2021-11-01 | $328,160 (23.5%) | $352,670 (14.6%) | 0.86 | 511 |
| 2021-12-01 | $337,900 (24.6%) | $363,637 (18.0%) | 0.90 | 427 |
| 2022-01-01 | $343,500 (23.1%) | $361,309 (12.5%) | 0.92 | 371 |
| 2022-02-01 | $349,450 (18.5%) | $387,311 (13.6%) | 0.89 | 360 |
| 2022-03-01 | $359,900 (21.7%) | $428,510 (26.9%) | 0.89 | 350 |
| 2022-04-01 | $364,510 (20.9%) | $423,842 (22.6%) | 0.86 | 385 |
Fargo's median listing price comes in at 86% of the national average.
Fargo's average listing price for 2022-04-01 was $423,842, a difference of $78,038 (22.6%) versus the prior year and $-4,668 versus the prior month.
For the 2022-04-01 period, Fargo had 385 MLS listings, a difference of 35 listings (10%) versus the prior month and -79 listings (-17%) 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 | 92 days | 2,325 sqft |
| 2018-02-01 | 51 days | 2,298 sqft |
| 2018-03-01 | 53 days | 2,304 sqft |
| 2018-04-01 | 50 days | 2,347 sqft |
| 2018-05-01 | 44 days | 2,377 sqft |
| 2018-06-01 | 43 days | 2,390 sqft |
| 2018-07-01 | 50 days | 2,351 sqft |
| 2018-08-01 | 57 days | 2,352 sqft |
| 2018-09-01 | 58 days | 2,340 sqft |
| 2018-10-01 | 67 days | 2,312 sqft |
| 2018-11-01 | 75 days | 2,265 sqft |
| 2018-12-01 | 85 days | 2,238 sqft |
| 2019-01-01 | 87 days | 2,212 sqft |
| 2019-02-01 | 83 days | 2,224 sqft |
| 2019-03-01 | 65 days | 2,238 sqft |
| 2019-04-01 | 48 days | 2,255 sqft |
| 2019-05-01 | 42 days | 2,249 sqft |
| 2019-06-01 | 46 days | 2,276 sqft |
| 2019-07-01 | 58 days | 2,302 sqft |
| 2019-08-01 | 60 days | 2,274 sqft |
| 2019-09-01 | 62 days | 2,248 sqft |
| 2019-10-01 | 64 days | 2,236 sqft |
| 2019-11-01 | 70 days | 2,234 sqft |
| 2019-12-01 | 89 days | 2,201 sqft |
| 2020-01-01 | 99 days | 2,201 sqft |
| 2020-02-01 | 99 days | 2,201 sqft |
| 2020-03-01 | 69 days | 2,214 sqft |
| 2020-04-01 | 62 days | 2,234 sqft |
| 2020-05-01 | 60 days | 2,274 sqft |
| 2020-06-01 | 50 days | 2,337 sqft |
| 2020-07-01 | 47 days | 2,340 sqft |
| 2020-08-01 | 52 days | 2,340 sqft |
| 2020-09-01 | 52 days | 2,290 sqft |
| 2020-10-01 | 58 days | 2,236 sqft |
| 2020-11-01 | 71 days | 2,204 sqft |
| 2020-12-01 | 86 days | 2,208 sqft |
| 2021-01-01 | 73 days | 2,232 sqft |
| 2021-02-01 | 52 days | 2,339 sqft |
| 2021-03-01 | 52 days | 2,348 sqft |
| 2021-04-01 | 39 days | 2,315 sqft |
| 2021-05-01 | 36 days | 2,341 sqft |
| 2021-06-01 | 34 days | 2,350 sqft |
| 2021-07-01 | 40 days | 2,343 sqft |
| 2021-08-01 | 41 days | 2,388 sqft |
| 2021-09-01 | 55 days | 2,382 sqft |
| 2021-10-01 | 66 days | 2,368 sqft |
| 2021-11-01 | 68 days | 2,368 sqft |
| 2021-12-01 | 82 days | 2,422 sqft |
| 2022-01-01 | 80 days | 2,400 sqft |
| 2022-02-01 | 64 days | 2,400 sqft |
| 2022-03-01 | 59 days | 2,358 sqft |
| 2022-04-01 | 39 days | 2,343 sqft |
Fargo's median square footage for active listings during the 2022-04-01 period was 2,343 sqft. One year prior, the average listing was 2,315 sqft.
