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%.

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 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 for 2022-04-01 was $364,510, a difference of $62,910 (20.9%) versus the prior year and $4,610 versus the prior month.

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 listing age (time on market) for 2022-04-01 was 39 days. This is 1% longer than the same period one year ago.

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.