Fergus Falls USDA Loan Rates, Closing Costs & Stats

Fergus Falls, 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.

Fergus Falls's 11 lenders originated 18 USDA loans during 2022. The total origination value was $2,850,000, with an average USDA loan value of $158,333.

Fergus Falls USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Fergus Falls averaged 6.27% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

Fergus Falls's average USDA mortgage closing costs are $4,956.

The average rate for the prior week (2024-02-23) was 6.42% and one month ago for the week of 2024-01-26, the average rate was 6.08%.

The average rate one year ago was 6.24%.

For refis of the same type during the week of 2024-03-01, the average rate was 6.02%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
PRIMARY RESIDENTIAL MORTGAGE, INC. 6 6.40% $7,062
UNITED WHOLESALE MORTGAGE, LLC 3 3.03% $7,382
First Guaranty Mortgage Corporation 1 4.75% $3,884
First Western Bank & Trust 1 2.88% $3,920
Flagstar Bank, FSB 1 5.75% $8,151
Paramount Residential Mortgage Group, Inc. 1 3.63% $7,594
Plains Commerce Bank 1 5.13% $6,570
PLANET HOME LENDING, LLC 1 5.13% $2,982
BAY EQUITY LLC 1 3.25% $5,730
VALLEY MORTGAGE, INC. 1 3.63% $2,491
EVERETT FINANCIAL, INC. 1 6.00% $4,155

The top Fergus Falls USDA lender as defined by loan originations is PRIMARY RESIDENTIAL MORTGAGE, INC., with 6 USDA loans originated. Their average total fees are $7,062, which is $320 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 $217,367 (8.7%) $343,043 (19.2%) 0.00 261
2018-02-01 $219,450 (11.3%) $351,429 (23.6%) 0.00 268
2018-03-01 $231,950 (5.8%) $365,402 (22.2%) 0.00 288
2018-04-01 $244,900 (2.1%) $362,485 (13.5%) 0.00 357
2018-05-01 $246,875 (0.2%) $352,374 (9.2%) 0.00 422
2018-06-01 $259,000 (7.9%) $349,950 (9.9%) 0.00 477
2018-07-01 $259,450 (12.8%) $337,082 (8.0%) 0.00 473
2018-08-01 $263,750 (17.3%) $335,496 (8.2%) 0.00 461
2018-09-01 $249,950 (11.1%) $323,556 (4.2%) 0.00 467
2018-10-01 $249,900 (14.1%) $316,869 (2.2%) 0.00 433
2018-11-01 $249,675 (14.8%) $316,477 (-1.9%) 0.00 353
2018-12-01 $242,200 (11.4%) $309,160 (-6.8%) 0.00 293
2019-01-01 $229,900 (5.8%) $281,370 (-18.0%) 0.00 221
2019-02-01 $239,900 (9.3%) $303,604 (-13.6%) 0.00 216
2019-03-01 $254,707 (9.8%) $321,792 (-11.9%) 0.00 243
2019-04-01 $271,257 (10.8%) $340,541 (-6.1%) 0.00 276
2019-05-01 $263,700 (6.8%) $343,469 (-2.5%) 0.00 357
2019-06-01 $249,900 (-3.5%) $333,677 (-4.7%) 0.00 397
2019-07-01 $261,825 (0.9%) $338,677 (0.5%) 0.00 387
2019-08-01 $261,427 (-0.9%) $331,796 (-1.1%) 0.00 373
2019-09-01 $254,943 (2.0%) $322,133 (-0.4%) 0.00 359
2019-10-01 $249,900 (0.0%) $317,804 (0.3%) 0.00 337
2019-11-01 $244,900 (-1.9%) $313,463 (-1.0%) 0.00 275
2019-12-01 $241,150 (-0.4%) $297,205 (-3.9%) 0.00 213
2020-01-01 $228,500 (-0.6%) $280,268 (-0.4%) 0.00 172
2020-02-01 $228,500 (-4.8%) $277,428 (-8.6%) 0.00 183
2020-03-01 $237,425 (-6.8%) $300,844 (-6.5%) 0.00 235
2020-04-01 $237,675 (-12.4%) $300,310 (-11.8%) 0.00 255
2020-05-01 $269,900 (2.4%) $336,324 (-2.1%) 0.00 278
2020-06-01 $269,900 (8.0%) $336,310 (0.8%) 0.00 273
2020-07-01 $269,925 (3.1%) $349,155 (3.1%) 0.00 268
2020-08-01 $269,900 (3.2%) $342,075 (3.1%) 0.00 250
2020-09-01 $271,175 (6.4%) $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 (-4.3%) $322,123 (2.8%) 0.00 185
2020-12-01 $249,000 (3.3%) $337,712 (13.6%) 0.00 150
2021-01-01 $247,000 (8.1%) $352,492 (25.8%) 0.00 107
2021-02-01 $236,975 (3.7%) $368,031 (32.7%) 0.00 89
2021-03-01 $247,975 (4.4%) $386,663 (28.5%) 0.00 99
2021-04-01 $271,175 (14.1%) $424,809 (41.5%) 0.00 107
2021-05-01 $269,900 (0.0%) $404,886 (20.4%) 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 (11.6%) 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 (25.4%) $431,912 (1.7%) 0.00 90
2022-05-01 $327,500 (21.3%) $430,649 (6.4%) 0.00 126
2022-06-01 $314,250 (22.4%) $435,358 (12.8%) 0.00 175
2022-07-01 $332,450 (10.9%) $444,910 (6.8%) 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 (27.0%) $521,525 (19.8%) 0.00 167
2023-07-01 $399,750 (20.2%) $500,951 (12.6%) 0.00 204
2023-08-01 $409,500 (17.0%) $498,603 (11.3%) 0.00 225
2023-09-01 $398,500 (13.9%) $474,538 (9.3%) 0.00 234
2023-10-01 $382,850 (14.3%) $468,184 (12.8%) 0.00 225
2023-11-01 $367,000 (5.6%) $453,466 (5.5%) 0.00 206
2023-12-01 $354,950 (-1.3%) $450,374 (1.6%) 0.00 185
2024-01-01 $342,375 (-4.0%) $443,588 (4.6%) 0.00 145
Fergus Falls's median listing price for 2024-01-01 was $342,375, a difference of $-14,350 (-4.0%) versus the prior year and $-12,575 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 2024-01-01 was $443,588, a difference of $19,352 (4.6%) versus the prior year and $-6,786 versus the prior month.

For the 2024-01-01 period, Fergus Falls had 145 MLS listings, a difference of -40 listings (-22%) versus the prior month and 61 listings (73%) 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 1,742 sqft
2018-02-01 0 days 1,737 sqft
2018-03-01 0 days 1,819 sqft
2018-04-01 0 days 1,868 sqft
2018-05-01 0 days 1,865 sqft
2018-06-01 0 days 1,911 sqft
2018-07-01 0 days 1,932 sqft
2018-08-01 0 days 2,000 sqft
2018-09-01 0 days 2,000 sqft
2018-10-01 0 days 2,018 sqft
2018-11-01 0 days 2,058 sqft
2018-12-01 0 days 2,005 sqft
2019-01-01 0 days 1,990 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 1,871 sqft
2019-07-01 0 days 1,915 sqft
2019-08-01 0 days 1,896 sqft
2019-09-01 0 days 1,884 sqft
2019-10-01 0 days 1,876 sqft
2019-11-01 0 days 1,872 sqft
2019-12-01 0 days 1,857 sqft
2020-01-01 0 days 1,757 sqft
2020-02-01 0 days 1,804 sqft
2020-03-01 0 days 1,790 sqft
2020-04-01 0 days 1,776 sqft
2020-05-01 0 days 1,894 sqft
2020-06-01 0 days 1,915 sqft
2020-07-01 0 days 2,000 sqft
2020-08-01 0 days 1,904 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 1,897 sqft
2021-05-01 0 days 1,929 sqft
2021-06-01 0 days 1,769 sqft
2021-07-01 0 days 1,936 sqft
2021-08-01 0 days 1,999 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 2,042 sqft
2022-07-01 0 days 1,900 sqft
2022-08-01 0 days 1,883 sqft
2022-09-01 0 days 1,716 sqft
2022-10-01 0 days 1,768 sqft
2022-11-01 0 days 1,806 sqft
2022-12-01 0 days 1,872 sqft
2023-01-01 0 days 1,875 sqft
2023-02-01 0 days 1,877 sqft
2023-03-01 0 days 1,894 sqft
2023-04-01 0 days 1,920 sqft
2023-05-01 0 days 1,962 sqft
2023-06-01 0 days 2,005 sqft
2023-07-01 0 days 1,898 sqft
2023-08-01 0 days 1,971 sqft
2023-09-01 0 days 1,984 sqft
2023-10-01 0 days 1,986 sqft
2023-11-01 0 days 1,951 sqft
2023-12-01 0 days 1,908 sqft
2024-01-01 0 days 1,909 sqft
Fergus Falls's median listing age (time on market) for 2024-01-01 was 0 days.

Fergus Falls's median square footage for active listings during the 2024-01-01 period was 1,909 sqft. One year prior, the average listing was 1,875 sqft.