Farmington USDA Loan Rates, Closing Costs & Stats

Farmington, MO

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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.

    Farmington's 15 lenders originated 131 USDA loans during 2023. The total origination value was $18,685,000, with an average USDA loan value of $142,634.

    Farmington USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Farmington averaged 6.37% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

    Farmington's average USDA mortgage closing costs are $4,492.

    The average rate for the prior week (2024-12-06) was 6.61% and one month ago for the week of 2024-11-08, the average rate was 6.63%.

    The average rate one year ago was 7.09%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.2%.

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

    Farmington 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 Farmington level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 94 6.64% $5,736
    First State Community Bank 7 5.80% $4,476
    DAS Acquisition Company, LLC 7 6.98% $6,096
    GERSHMAN INVESTMENT CORP. 5 6.85% $5,612
    UNITED WHOLESALE MORTGAGE, LLC 3 6.09% $7,278
    BROKER SOLUTIONS, INC. 2 6.25% $5,140
    CARDINAL FINANCIAL 2 7.44% $5,120
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.63% $3,772
    FLAT BRANCH MORTGAGE, INC. 2 6.69% $4,711
    Magnolia Bank 2 6.88% $3,525
    GUARANTEED RATE, INC. 1 6.25% $5,651
    Equity Prime Mortgage LLC 1 7.63% $7,883
    HOMESTAR FINANCIAL CORPORATION 1 7.25% $2,654
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.63% $6,731
    Flanagan State Bank 1 7.13% $4,332

    The top Farmington USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 94 USDA loans originated. Their average total fees are $5,736, which is $1,260 higher than the next largest lender, First State Community Bank.

    The lowest fee Farmington USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($5,736), .

    The lowest rate Farmington USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (6.64%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Farmington (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 $131,300 (5.0%) $157,417 (2.6%) 0.00 256
    2018-02-01 $134,700 (11.8%) $154,876 (1.9%) 0.00 248
    2018-03-01 $135,500 (4.3%) $157,704 (-2.8%) 0.00 249
    2018-04-01 $132,675 (2.1%) $159,926 (-0.3%) 0.00 228
    2018-05-01 $134,900 (0.0%) $163,735 (-2.3%) 0.00 245
    2018-06-01 $137,500 (0.2%) $169,650 (1.8%) 0.00 256
    2018-07-01 $142,450 (3.2%) $178,726 (8.5%) 0.00 253
    2018-08-01 $153,650 (13.9%) $184,815 (17.0%) 0.00 236
    2018-09-01 $159,000 (20.0%) $186,301 (19.6%) 0.00 243
    2018-10-01 $153,650 (18.2%) $186,696 (18.6%) 0.00 235
    2018-11-01 $149,950 (15.6%) $192,361 (24.7%) 0.00 246
    2018-12-01 $149,900 (15.8%) $197,757 (28.0%) 0.00 246
    2019-01-01 $146,250 (11.4%) $200,619 (27.4%) 0.00 230
    2019-02-01 $142,925 (6.1%) $205,267 (32.5%) 0.00 217
    2019-03-01 $148,471 (9.6%) $212,515 (34.8%) 0.00 217
    2019-04-01 $153,471 (15.7%) $222,603 (39.2%) 0.00 206
    2019-05-01 $148,075 (9.8%) $217,213 (32.7%) 0.00 213
    2019-06-01 $164,450 (19.6%) $225,123 (32.7%) 0.00 203
    2019-07-01 $162,400 (14.0%) $222,647 (24.6%) 0.00 209
    2019-08-01 $159,927 (4.1%) $220,601 (19.4%) 0.00 210
    2019-09-01 $159,968 (0.6%) $217,543 (16.8%) 0.00 212
    2019-10-01 $159,945 (4.1%) $215,504 (15.4%) 0.00 216
    2019-11-01 $149,900 (0.0%) $208,709 (8.5%) 0.00 212
    2019-12-01 $140,925 (-6.0%) $200,474 (1.4%) 0.00 214
    2020-01-01 $144,400 (-1.3%) $207,719 (3.5%) 0.00 190
    2020-02-01 $149,000 (4.3%) $227,105 (10.6%) 0.00 177
    2020-03-01 $163,300 (10.0%) $251,231 (18.2%) 0.00 156
    2020-04-01 $169,950 (10.7%) $246,866 (10.9%) 0.00 158
    2020-05-01 $170,000 (14.8%) $267,815 (23.3%) 0.00 143
    2020-06-01 $170,438 (3.6%) $263,047 (16.9%) 0.00 130
    2020-07-01 $172,450 (6.2%) $252,074 (13.2%) 0.00 130
    2020-08-01 $179,900 (12.5%) $267,915 (21.5%) 0.00 109
    2020-09-01 $179,938 (12.5%) $262,190 (20.5%) 0.00 117
    2020-10-01 $177,000 (10.7%) $273,415 (26.9%) 0.00 124
    2020-11-01 $165,000 (10.1%) $228,407 (9.4%) 0.00 126
    2020-12-01 $156,175 (10.8%) $215,440 (7.5%) 0.00 111
    2021-01-01 $159,900 (10.7%) $222,200 (7.0%) 0.00 100
    2021-02-01 $163,200 (9.5%) $231,441 (1.9%) 0.00 73
    2021-03-01 $159,725 (-2.2%) $223,444 (-11.1%) 0.00 72
    2021-04-01 $181,200 (6.6%) $258,892 (4.9%) 0.00 66
    2021-05-01 $169,000 (-0.6%) $240,262 (-10.3%) 0.00 70
    2021-06-01 $151,225 (-11.3%) $222,979 (-15.2%) 0.00 84
    2021-07-01 $159,450 (-7.5%) $225,462 (-10.6%) 0.00 105
    2021-08-01 $177,450 (-1.4%) $235,609 (-12.1%) 0.00 116
    2021-09-01 $179,900 (0.0%) $243,853 (-7.0%) 0.00 115
    2021-10-01 $184,950 (4.5%) $256,360 (-6.2%) 0.00 126
    2021-11-01 $194,750 (18.0%) $276,393 (21.0%) 0.00 114
    2021-12-01 $194,625 (24.6%) $272,713 (26.6%) 0.00 107
    2022-01-01 $192,000 (20.1%) $269,679 (21.4%) 0.00 87
    2022-02-01 $193,950 (18.8%) $278,884 (20.5%) 0.00 82
    2022-03-01 $193,750 (21.3%) $284,584 (27.4%) 0.00 87
    2022-04-01 $199,900 (10.3%) $263,669 (1.8%) 0.00 78
    2022-05-01 $192,400 (13.9%) $251,958 (4.9%) 0.00 93
    2022-06-01 $199,900 (32.2%) $261,662 (17.4%) 0.00 100
    2022-07-01 $199,900 (25.4%) $257,820 (14.4%) 0.00 111
    2022-08-01 $194,950 (9.9%) $244,954 (4.0%) 0.00 134
    2022-09-01 $209,350 (16.4%) $255,534 (4.8%) 0.00 135
    2022-10-01 $197,450 (6.8%) $243,814 (-4.9%) 0.00 158
    2022-11-01 $207,450 (6.5%) $235,963 (-14.6%) 0.00 177
    2022-12-01 $214,900 (10.4%) $240,148 (-11.9%) 0.00 154
    2023-01-01 $197,675 (3.0%) $231,800 (-14.1%) 0.00 135
    2023-02-01 $207,400 (6.9%) $238,003 (-14.7%) 0.00 121
    2023-03-01 $219,900 (13.5%) $248,711 (-12.6%) 0.00 109
    2023-04-01 $199,900 (0.0%) $245,053 (-7.1%) 0.00 99
    2023-05-01 $223,700 (16.3%) $254,504 (1.0%) 0.00 94
    2023-06-01 $226,000 (13.1%) $270,900 (3.5%) 0.00 96
    2023-07-01 $232,900 (16.5%) $265,865 (3.1%) 0.00 102
    2023-08-01 $217,425 (11.5%) $250,847 (2.4%) 0.00 106
    2023-09-01 $219,200 (4.7%) $259,727 (1.6%) 0.00 130
    2023-10-01 $224,125 (13.5%) $257,249 (5.5%) 0.00 134
    2023-11-01 $219,725 (5.9%) $260,793 (10.5%) 0.00 139
    2023-12-01 $229,950 (7.0%) $255,132 (6.2%) 0.00 129
    2024-01-01 $242,000 (22.4%) $260,452 (12.4%) 0.00 123
    2024-02-01 $237,450 (14.5%) $261,030 (9.7%) 0.00 126
    2024-03-01 $235,000 (6.9%) $261,307 (5.1%) 0.00 131
    2024-04-01 $239,075 (19.6%) $270,583 (10.4%) 0.00 133
    2024-05-01 $259,925 (16.2%) $268,922 (5.7%) 0.00 154
    2024-06-01 $249,900 (10.6%) $273,107 (0.8%) 0.00 157
    2024-07-01 $254,675 (9.4%) $269,808 (1.5%) 0.00 156
    2024-08-01 $249,900 (14.9%) $266,464 (6.2%) 0.00 154
    2024-09-01 $223,200 (1.8%) $251,732 (-3.1%) 0.00 156
    2024-10-01 $219,450 (-2.1%) $249,948 (-2.8%) 0.00 176
    2024-11-01 $209,900 (-4.5%) $252,976 (-3.0%) 0.00 187
    Farmington's median listing price for 2024-11-01 was $209,900, a difference of $-9,825 (-4.5%) versus the prior year and $-9,550 versus the prior month.

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

    Farmington's average listing price for 2024-11-01 was $252,976, a difference of $-7,817 (-3.0%) versus the prior year and $3,028 versus the prior month.

    For the 2024-11-01 period, Farmington had 187 MLS listings, a difference of 11 listings (6%) versus the prior month and 48 listings (35%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Farmington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,423 sqft
    2018-02-01 0 days 1,379 sqft
    2018-03-01 0 days 1,358 sqft
    2018-04-01 0 days 1,359 sqft
    2018-05-01 0 days 1,398 sqft
    2018-06-01 0 days 1,414 sqft
    2018-07-01 0 days 1,433 sqft
    2018-08-01 0 days 1,472 sqft
    2018-09-01 0 days 1,459 sqft
    2018-10-01 0 days 1,437 sqft
    2018-11-01 0 days 1,437 sqft
    2018-12-01 0 days 1,428 sqft
    2019-01-01 0 days 1,418 sqft
    2019-02-01 0 days 1,411 sqft
    2019-03-01 0 days 1,472 sqft
    2019-04-01 0 days 1,534 sqft
    2019-05-01 0 days 1,525 sqft
    2019-06-01 0 days 1,504 sqft
    2019-07-01 0 days 1,487 sqft
    2019-08-01 0 days 1,480 sqft
    2019-09-01 0 days 1,491 sqft
    2019-10-01 0 days 1,499 sqft
    2019-11-01 0 days 1,489 sqft
    2019-12-01 0 days 1,481 sqft
    2020-01-01 0 days 1,484 sqft
    2020-02-01 0 days 1,496 sqft
    2020-03-01 0 days 1,646 sqft
    2020-04-01 0 days 1,688 sqft
    2020-05-01 0 days 1,738 sqft
    2020-06-01 0 days 1,710 sqft
    2020-07-01 0 days 1,631 sqft
    2020-08-01 0 days 1,636 sqft
    2020-09-01 0 days 1,643 sqft
    2020-10-01 0 days 1,701 sqft
    2020-11-01 0 days 1,616 sqft
    2020-12-01 0 days 1,554 sqft
    2021-01-01 0 days 1,509 sqft
    2021-02-01 0 days 1,523 sqft
    2021-03-01 0 days 1,462 sqft
    2021-04-01 0 days 1,525 sqft
    2021-05-01 0 days 1,624 sqft
    2021-06-01 0 days 1,505 sqft
    2021-07-01 0 days 1,524 sqft
    2021-08-01 0 days 1,597 sqft
    2021-09-01 0 days 1,620 sqft
    2021-10-01 0 days 1,583 sqft
    2021-11-01 0 days 1,620 sqft
    2021-12-01 0 days 1,541 sqft
    2022-01-01 0 days 1,584 sqft
    2022-02-01 0 days 1,535 sqft
    2022-03-01 0 days 1,497 sqft
    2022-04-01 0 days 1,500 sqft
    2022-05-01 0 days 1,514 sqft
    2022-06-01 0 days 1,535 sqft
    2022-07-01 0 days 1,468 sqft
    2022-08-01 0 days 1,468 sqft
    2022-09-01 0 days 1,519 sqft
    2022-10-01 0 days 1,519 sqft
    2022-11-01 0 days 1,499 sqft
    2022-12-01 0 days 1,517 sqft
    2023-01-01 0 days 1,517 sqft
    2023-02-01 0 days 1,503 sqft
    2023-03-01 0 days 1,493 sqft
    2023-04-01 0 days 1,560 sqft
    2023-05-01 0 days 1,724 sqft
    2023-06-01 0 days 1,775 sqft
    2023-07-01 0 days 1,718 sqft
    2023-08-01 0 days 1,606 sqft
    2023-09-01 0 days 1,586 sqft
    2023-10-01 0 days 1,628 sqft
    2023-11-01 0 days 1,639 sqft
    2023-12-01 0 days 1,600 sqft
    2024-01-01 0 days 1,600 sqft
    2024-02-01 0 days 1,606 sqft
    2024-03-01 0 days 1,645 sqft
    2024-04-01 0 days 1,627 sqft
    2024-05-01 0 days 1,581 sqft
    2024-06-01 0 days 1,573 sqft
    2024-07-01 0 days 1,570 sqft
    2024-08-01 0 days 1,573 sqft
    2024-09-01 0 days 1,606 sqft
    2024-10-01 0 days 1,802 sqft
    2024-11-01 0 days 1,760 sqft
    Farmington's median listing age (time on market) for 2024-11-01 was 0 days.

    Farmington's median square footage for active listings during the 2024-11-01 period was 1,760 sqft. One year prior, the average listing was 1,639 sqft.