Farmington USDA Loan Rates, Closing Costs & Stats

Farmington, MO

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 6.78% for the week of 2024-06-14, compared to the national average (all USDA variants) of 6.709% for the same period.

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

The average rate for the prior week (2024-06-07) was 6.77% and one month ago for the week of 2024-05-10, the average rate was 6.66%.

The average rate one year ago was 6.61%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.81%.

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
Farmington's median listing price for 2024-05-01 was $259,925, a difference of $36,225 (16.2%) versus the prior year and $20,850 versus the prior month.

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

Farmington's average listing price for 2024-05-01 was $268,922, a difference of $14,418 (5.7%) versus the prior year and $-1,661 versus the prior month.

For the 2024-05-01 period, Farmington had 154 MLS listings, a difference of 21 listings (16%) versus the prior month and 60 listings (64%) 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
Farmington's median listing age (time on market) for 2024-05-01 was 0 days.

Farmington's median square footage for active listings during the 2024-05-01 period was 1,581 sqft. One year prior, the average listing was 1,724 sqft.