Fergus Falls USDA Loan Rates, Closing Costs & Stats

Fergus Falls, MN

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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.

    Fergus Falls's 6 lenders originated 11 USDA loans during 2023. The total origination value was $1,925,000, with an average USDA loan value of $175,000.

    Fergus Falls USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Fergus Falls averaged 6.39% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Fergus Falls's average USDA mortgage closing costs are $5,035.

    The average rate for the prior week (2025-02-07) was 6.75% and one month ago for the week of 2025-01-10, the average rate was 6.7%.

    The average rate one year ago was 6.69%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.73%.

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

    Fergus Falls 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 Fergus Falls level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 7.04% $7,417
    UNITED WHOLESALE MORTGAGE, LLC 3 5.36% $7,681
    PLANET HOME LENDING, LLC 2 6.63% $5,498
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.50% $8,612
    Nations Lending Corporation 1 7.75% $1,538
    PLAZA HOME MORTGAGE, INC. 1 6.88% $5,588

    The top Fergus Falls USDA lender as defined by loan originations is PRIMARY RESIDENTIAL MORTGAGE, INC., with 3 USDA loans originated. Their average total fees are $7,417, which is $263 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Fergus Falls USDA lenders (with over 10 loans originated) are .

    The lowest rate Fergus Falls USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Fergus Falls (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 $216,642 (8.4%) $342,295 (19.1%) 0.00 261
    2018-02-01 $218,900 (11.0%) $350,889 (23.8%) 0.00 268
    2018-03-01 $227,000 (3.7%) $364,960 (22.8%) 0.00 287
    2018-04-01 $241,000 (0.5%) $361,572 (13.4%) 0.00 355
    2018-05-01 $243,625 (-0.7%) $351,913 (9.0%) 0.00 421
    2018-06-01 $254,950 (6.3%) $348,306 (9.1%) 0.00 476
    2018-07-01 $259,225 (12.7%) $335,418 (7.2%) 0.00 472
    2018-08-01 $261,750 (16.4%) $335,087 (7.9%) 0.00 461
    2018-09-01 $249,900 (11.1%) $323,237 (3.9%) 0.00 467
    2018-10-01 $249,450 (14.2%) $316,549 (2.6%) 0.00 433
    2018-11-01 $248,225 (15.3%) $316,130 (-1.3%) 0.00 352
    2018-12-01 $241,900 (11.9%) $309,270 (-6.6%) 0.00 292
    2019-01-01 $229,900 (6.1%) $281,050 (-17.9%) 0.00 222
    2019-02-01 $239,900 (9.6%) $303,604 (-13.5%) 0.00 216
    2019-03-01 $254,707 (12.2%) $321,792 (-11.8%) 0.00 243
    2019-04-01 $271,257 (12.6%) $340,541 (-5.8%) 0.00 276
    2019-05-01 $263,700 (8.2%) $343,469 (-2.4%) 0.00 357
    2019-06-01 $249,900 (-2.0%) $333,637 (-4.2%) 0.00 395
    2019-07-01 $260,100 (0.3%) $338,624 (1.0%) 0.00 385
    2019-08-01 $258,155 (-1.4%) $331,780 (-1.0%) 0.00 371
    2019-09-01 $253,511 (1.5%) $322,139 (-0.3%) 0.00 358
    2019-10-01 $249,900 (0.2%) $317,830 (0.4%) 0.00 336
    2019-11-01 $242,400 (-2.4%) $315,512 (-0.2%) 0.00 275
    2019-12-01 $241,288 (-0.3%) $297,418 (-3.8%) 0.00 212
    2020-01-01 $228,625 (-0.6%) $280,719 (-0.1%) 0.00 171
    2020-02-01 $228,500 (-4.8%) $277,844 (-8.5%) 0.00 182
    2020-03-01 $237,450 (-6.8%) $301,270 (-6.4%) 0.00 233
    2020-04-01 $238,675 (-12.0%) $300,698 (-11.7%) 0.00 254
    2020-05-01 $269,900 (2.4%) $336,799 (-1.9%) 0.00 277
    2020-06-01 $269,900 (8.0%) $336,549 (0.9%) 0.00 273
    2020-07-01 $269,925 (3.8%) $349,155 (3.1%) 0.00 267
    2020-08-01 $269,900 (4.6%) $342,442 (3.2%) 0.00 249
    2020-09-01 $271,175 (7.0%) $355,209 (10.3%) 0.00 233
    2020-10-01 $259,900 (4.0%) $343,779 (8.2%) 0.00 198
    2020-11-01 $234,500 (-3.3%) $322,123 (2.1%) 0.00 185
    2020-12-01 $249,000 (3.2%) $337,712 (13.6%) 0.00 150
    2021-01-01 $247,000 (8.0%) $352,492 (25.6%) 0.00 107
    2021-02-01 $236,975 (3.7%) $368,031 (32.5%) 0.00 89
    2021-03-01 $247,975 (4.4%) $386,663 (28.3%) 0.00 99
    2021-04-01 $272,400 (14.1%) $424,428 (41.2%) 0.00 105
    2021-05-01 $269,900 (0.0%) $404,107 (20.0%) 0.00 100
    2021-06-01 $256,750 (-4.9%) $385,879 (14.7%) 0.00 114
    2021-07-01 $299,900 (11.1%) $416,560 (19.3%) 0.00 133
    2021-08-01 $271,850 (0.7%) $381,708 (11.5%) 0.00 164
    2021-09-01 $277,700 (2.4%) $375,837 (5.8%) 0.00 164
    2021-10-01 $287,450 (10.6%) $408,257 (18.8%) 0.00 150
    2021-11-01 $264,975 (13.0%) $415,181 (28.9%) 0.00 107
    2021-12-01 $249,900 (0.4%) $377,940 (11.9%) 0.00 86
    2022-01-01 $259,000 (4.9%) $399,755 (13.4%) 0.00 68
    2022-02-01 $322,450 (36.1%) $431,871 (17.4%) 0.00 72
    2022-03-01 $333,725 (34.6%) $421,828 (9.1%) 0.00 70
    2022-04-01 $339,950 (24.8%) $431,912 (1.8%) 0.00 90
    2022-05-01 $327,500 (21.3%) $430,649 (6.6%) 0.00 126
    2022-06-01 $313,500 (22.1%) $433,506 (12.3%) 0.00 174
    2022-07-01 $329,900 (10.0%) $443,519 (6.5%) 0.00 189
    2022-08-01 $349,900 (28.7%) $448,065 (17.4%) 0.00 180
    2022-09-01 $349,900 (26.0%) $434,274 (15.6%) 0.00 174
    2022-10-01 $335,000 (16.5%) $415,098 (1.7%) 0.00 166
    2022-11-01 $347,400 (31.1%) $429,753 (3.5%) 0.00 137
    2022-12-01 $359,450 (43.8%) $443,454 (17.3%) 0.00 112
    2023-01-01 $356,725 (37.7%) $424,236 (6.1%) 0.00 84
    2023-02-01 $338,000 (4.8%) $428,483 (-0.8%) 0.00 75
    2023-03-01 $372,450 (11.6%) $465,515 (10.4%) 0.00 89
    2023-04-01 $399,000 (17.4%) $529,621 (22.6%) 0.00 109
    2023-05-01 $399,350 (21.9%) $531,323 (23.4%) 0.00 152
    2023-06-01 $399,125 (27.3%) $520,197 (20.0%) 0.00 166
    2023-07-01 $399,500 (21.1%) $498,061 (12.3%) 0.00 203
    2023-08-01 $400,000 (14.3%) $490,006 (9.4%) 0.00 223
    2023-09-01 $389,900 (11.4%) $465,102 (7.1%) 0.00 229
    2023-10-01 $373,350 (11.5%) $458,529 (10.5%) 0.00 220
    2023-11-01 $358,450 (3.2%) $442,476 (3.0%) 0.00 202
    2023-12-01 $349,950 (-2.6%) $437,221 (-1.4%) 0.00 181
    2024-01-01 $340,000 (-4.7%) $428,940 (1.1%) 0.00 143
    2024-02-01 $343,875 (1.7%) $442,405 (3.3%) 0.00 123
    2024-03-01 $389,000 (4.4%) $472,225 (1.4%) 0.00 157
    2024-04-01 $399,900 (0.2%) $482,055 (-9.0%) 0.00 178
    2024-05-01 $399,900 (0.1%) $475,481 (-10.5%) 0.00 228
    2024-06-01 $419,900 (5.2%) $515,842 (-0.8%) 0.00 244
    2024-07-01 $419,975 (5.1%) $572,527 (15.0%) 0.00 239
    2024-08-01 $399,900 (0.0%) $550,356 (12.3%) 0.00 248
    2024-09-01 $387,950 (-0.5%) $550,229 (18.3%) 0.00 260
    2024-10-01 $371,950 (-0.4%) $536,900 (17.1%) 0.00 246
    2024-11-01 $360,000 (0.4%) $521,636 (17.9%) 0.00 220
    2024-12-01 $359,725 (2.8%) $535,050 (22.4%) 0.00 175
    2025-01-01 $358,225 (5.4%) $552,547 (28.8%) 0.00 152
    Fergus Falls's median listing price for 2025-01-01 was $358,225, a difference of $18,225 (5.4%) versus the prior year and $-1,500 versus the prior month.

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

    Fergus Falls's average listing price for 2025-01-01 was $552,547, a difference of $123,607 (28.8%) versus the prior year and $17,497 versus the prior month.

    For the 2025-01-01 period, Fergus Falls had 152 MLS listings, a difference of -23 listings (-13%) versus the prior month and 9 listings (6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fergus Falls (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,741 sqft
    2018-02-01 0 days 1,736 sqft
    2018-03-01 0 days 1,805 sqft
    2018-04-01 0 days 1,860 sqft
    2018-05-01 0 days 1,857 sqft
    2018-06-01 0 days 1,911 sqft
    2018-07-01 0 days 1,930 sqft
    2018-08-01 0 days 1,997 sqft
    2018-09-01 0 days 2,000 sqft
    2018-10-01 0 days 2,018 sqft
    2018-11-01 0 days 2,060 sqft
    2018-12-01 0 days 2,008 sqft
    2019-01-01 0 days 1,982 sqft
    2019-02-01 0 days 2,112 sqft
    2019-03-01 0 days 2,098 sqft
    2019-04-01 0 days 2,063 sqft
    2019-05-01 0 days 1,927 sqft
    2019-06-01 0 days 1,872 sqft
    2019-07-01 0 days 1,926 sqft
    2019-08-01 0 days 1,906 sqft
    2019-09-01 0 days 1,890 sqft
    2019-10-01 0 days 1,880 sqft
    2019-11-01 0 days 1,872 sqft
    2019-12-01 0 days 1,859 sqft
    2020-01-01 0 days 1,764 sqft
    2020-02-01 0 days 1,812 sqft
    2020-03-01 0 days 1,791 sqft
    2020-04-01 0 days 1,776 sqft
    2020-05-01 0 days 1,900 sqft
    2020-06-01 0 days 1,917 sqft
    2020-07-01 0 days 2,000 sqft
    2020-08-01 0 days 1,919 sqft
    2020-09-01 0 days 1,920 sqft
    2020-10-01 0 days 1,776 sqft
    2020-11-01 0 days 1,773 sqft
    2020-12-01 0 days 1,776 sqft
    2021-01-01 0 days 1,644 sqft
    2021-02-01 0 days 1,794 sqft
    2021-03-01 0 days 1,934 sqft
    2021-04-01 0 days 1,889 sqft
    2021-05-01 0 days 1,924 sqft
    2021-06-01 0 days 1,767 sqft
    2021-07-01 0 days 1,934 sqft
    2021-08-01 0 days 1,986 sqft
    2021-09-01 0 days 1,944 sqft
    2021-10-01 0 days 2,014 sqft
    2021-11-01 0 days 2,089 sqft
    2021-12-01 0 days 2,013 sqft
    2022-01-01 0 days 1,980 sqft
    2022-02-01 0 days 2,101 sqft
    2022-03-01 0 days 2,172 sqft
    2022-04-01 0 days 1,973 sqft
    2022-05-01 0 days 1,914 sqft
    2022-06-01 0 days 2,037 sqft
    2022-07-01 0 days 1,900 sqft
    2022-08-01 0 days 1,883 sqft
    2022-09-01 0 days 1,717 sqft
    2022-10-01 0 days 1,770 sqft
    2022-11-01 0 days 1,818 sqft
    2022-12-01 0 days 1,877 sqft
    2023-01-01 0 days 1,875 sqft
    2023-02-01 0 days 1,882 sqft
    2023-03-01 0 days 1,901 sqft
    2023-04-01 0 days 1,936 sqft
    2023-05-01 0 days 1,964 sqft
    2023-06-01 0 days 2,016 sqft
    2023-07-01 0 days 1,902 sqft
    2023-08-01 0 days 1,976 sqft
    2023-09-01 0 days 1,984 sqft
    2023-10-01 0 days 1,980 sqft
    2023-11-01 0 days 1,937 sqft
    2023-12-01 0 days 1,908 sqft
    2024-01-01 0 days 1,905 sqft
    2024-02-01 0 days 1,924 sqft
    2024-03-01 0 days 1,832 sqft
    2024-04-01 0 days 1,831 sqft
    2024-05-01 0 days 1,875 sqft
    2024-06-01 0 days 1,872 sqft
    2024-07-01 0 days 1,854 sqft
    2024-08-01 0 days 1,894 sqft
    2024-09-01 0 days 1,815 sqft
    2024-10-01 0 days 1,836 sqft
    2024-11-01 0 days 1,892 sqft
    2024-12-01 0 days 1,944 sqft
    2025-01-01 0 days 1,971 sqft
    Fergus Falls's median listing age (time on market) for 2025-01-01 was 0 days.

    Fergus Falls's median square footage for active listings during the 2025-01-01 period was 1,971 sqft. One year prior, the average listing was 1,905 sqft.