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
7.03%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Farmington's average USDA mortgage closing costs are $4,492.
The average rate for the prior week (2024-04-12) was
6.99% and
one month ago for the week of 2024-03-15, the
average rate was 6.77%.
The average rate one year ago was 6.41%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.86%.
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 |
Farmington's median listing price comes in at 0% of the national average.
Farmington's average listing price for 2024-03-01 was $261,307, a difference of $12,596 (5.1%) versus the prior year and $277 versus the prior month.
For the 2024-03-01 period, Farmington had 131 MLS listings, a difference of 5 listings (4%) versus the prior month and 22 listings (20%) 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 |
Farmington's median square footage for active listings during the 2024-03-01 period was 1,645 sqft. One year prior, the average listing was 1,493 sqft.