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 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
6.93%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Fergus Falls's average USDA mortgage closing costs are $5,035.
The average rate for the prior week (2024-04-12) was
6.68% 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 6.76%.
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 | $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 |
| 2024-02-01 | $347,225 (2.7%) | $457,947 (6.9%) | 0.00 | 125 |
| 2024-03-01 | $389,000 (4.4%) | $482,290 (3.6%) | 0.00 | 159 |
Fergus Falls's median listing price comes in at 0% of the national average.
Fergus Falls's average listing price for 2024-03-01 was $482,290, a difference of $16,775 (3.6%) versus the prior year and $24,343 versus the prior month.
For the 2024-03-01 period, Fergus Falls had 159 MLS listings, a difference of 34 listings (27%) versus the prior month and 70 listings (79%) 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 |
| 2024-02-01 | 0 days | 1,947 sqft |
| 2024-03-01 | 0 days | 1,872 sqft |
Fergus Falls's median square footage for active listings during the 2024-03-01 period was 1,872 sqft. One year prior, the average listing was 1,894 sqft.