Fort Madison USDA Loan Rates, Closing Costs & Stats
Fort Madison-Keokuk, IA-IL-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.
Fort Madison's 7 lenders originated 13 USDA loans during 2023. The total origination value was $1,085,000, with an average USDA loan value of $83,462.
Fort Madison USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Fort Madison
averaged
6.49%
for the week of 2024-12-13, compared to the national average (all USDA variants) of
6.303% for the same period.
Fort Madison's average USDA mortgage closing costs are $3,151.
The average rate for the prior week (2024-12-06) was
6.33% and
one month ago for the week of 2024-11-08, the
average rate was 6.45%.
The average rate one year ago was 6.81%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.4%.
Fort Madison 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 Fort Madison level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| United Community Bank | 6 | 6.79% | $3,196 |
| First Bankers Trust Company | 1 | 8.00% | $3,157 |
| Fortress Bank | 1 | 5.75% | $2,803 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 6.50% | $3,780 |
| IOWA BANKERS MORTGAGE CORPORATION | 1 | 6.63% | $3,308 |
| U.S. Bank | 1 | 7.75% | $3,211 |
| GUILD MORTGAGE COMPANY | 1 | 6.63% | $3,716 |
The top Fort Madison USDA lender as defined by loan originations is United Community Bank, with
6 USDA loans originated. Their average total fees are
$3,196, which is $39
higher than the next largest lender,
First Bankers Trust Company.
The lowest fee Fort Madison USDA lenders (with over 10 loans originated) are
.
The lowest rate Fort Madison USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Fort Madison (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 | $89,375 (-3.1%) | $123,634 (-0.5%) | 0.00 | 193 |
| 2018-02-01 | $99,000 (6.2%) | $133,959 (7.5%) | 0.00 | 179 |
| 2018-03-01 | $99,000 (-5.3%) | $134,282 (6.4%) | 0.00 | 182 |
| 2018-04-01 | $96,750 (-12.8%) | $132,405 (4.6%) | 0.00 | 198 |
| 2018-05-01 | $94,750 (-9.2%) | $130,902 (5.5%) | 0.00 | 227 |
| 2018-06-01 | $95,750 (-9.9%) | $132,213 (4.9%) | 0.00 | 261 |
| 2018-07-01 | $98,125 (-6.5%) | $130,527 (5.6%) | 0.00 | 288 |
| 2018-08-01 | $106,250 (9.1%) | $131,349 (7.2%) | 0.00 | 287 |
| 2018-09-01 | $105,900 (14.5%) | $128,840 (5.5%) | 0.00 | 285 |
| 2018-10-01 | $106,700 (18.7%) | $127,862 (1.2%) | 0.00 | 273 |
| 2018-11-01 | $106,275 (14.2%) | $129,844 (2.3%) | 0.00 | 249 |
| 2018-12-01 | $99,900 (16.2%) | $129,715 (6.0%) | 0.00 | 232 |
| 2019-01-01 | $99,900 (11.8%) | $125,943 (1.9%) | 0.00 | 218 |
| 2019-02-01 | $99,900 (0.9%) | $129,066 (-3.7%) | 0.00 | 199 |
| 2019-03-01 | $109,196 (10.3%) | $132,503 (-1.3%) | 0.00 | 202 |
| 2019-04-01 | $106,038 (9.6%) | $132,258 (-0.1%) | 0.00 | 210 |
| 2019-05-01 | $109,450 (15.5%) | $137,283 (4.9%) | 0.00 | 207 |
| 2019-06-01 | $109,000 (13.8%) | $138,645 (4.9%) | 0.00 | 207 |
| 2019-07-01 | $107,450 (9.5%) | $138,444 (6.1%) | 0.00 | 223 |
| 2019-08-01 | $104,509 (-1.6%) | $136,259 (3.7%) | 0.00 | 225 |
| 2019-09-01 | $107,598 (1.6%) | $137,568 (6.8%) | 0.00 | 230 |
| 2019-10-01 | $109,657 (2.8%) | $138,551 (8.4%) | 0.00 | 234 |
| 2019-11-01 | $105,950 (-0.3%) | $136,484 (5.1%) | 0.00 | 235 |
| 2019-12-01 | $99,575 (-0.3%) | $129,971 (0.2%) | 0.00 | 231 |
| 2020-01-01 | $98,750 (-1.2%) | $129,357 (2.7%) | 0.00 | 242 |
| 2020-02-01 | $99,000 (-0.9%) | $128,549 (-0.4%) | 0.00 | 225 |
| 2020-03-01 | $100,950 (-7.6%) | $132,881 (0.3%) | 0.00 | 214 |
| 2020-04-01 | $102,000 (-3.8%) | $134,595 (1.8%) | 0.00 | 216 |
| 2020-05-01 | $109,700 (0.2%) | $139,987 (2.0%) | 0.00 | 217 |
| 2020-06-01 | $112,300 (3.0%) | $142,402 (2.7%) | 0.00 | 229 |
| 2020-07-01 | $113,750 (5.9%) | $140,626 (1.6%) | 0.00 | 225 |
| 2020-08-01 | $119,900 (14.7%) | $147,343 (8.1%) | 0.00 | 220 |
| 2020-09-01 | $117,000 (8.7%) | $143,477 (4.3%) | 0.00 | 210 |
| 2020-10-01 | $118,900 (8.4%) | $147,672 (6.6%) | 0.00 | 203 |
| 2020-11-01 | $119,450 (12.7%) | $153,569 (12.5%) | 0.00 | 183 |
| 2020-12-01 | $118,225 (18.7%) | $153,032 (17.7%) | 0.00 | 158 |
| 2021-01-01 | $105,000 (6.3%) | $144,460 (11.7%) | 0.00 | 143 |
| 2021-02-01 | $105,000 (6.1%) | $145,296 (13.0%) | 0.00 | 140 |
| 2021-03-01 | $107,500 (6.5%) | $147,960 (11.4%) | 0.00 | 133 |
| 2021-04-01 | $93,700 (-8.1%) | $134,436 (-0.1%) | 0.00 | 140 |
| 2021-05-01 | $93,700 (-14.6%) | $126,476 (-9.7%) | 0.00 | 148 |
| 2021-06-01 | $94,225 (-16.1%) | $124,943 (-12.3%) | 0.00 | 150 |
| 2021-07-01 | $95,000 (-16.5%) | $126,142 (-10.3%) | 0.00 | 149 |
| 2021-08-01 | $105,725 (-11.8%) | $134,655 (-8.6%) | 0.00 | 154 |
| 2021-09-01 | $95,125 (-18.7%) | $127,800 (-10.9%) | 0.00 | 148 |
| 2021-10-01 | $95,000 (-20.1%) | $128,496 (-13.0%) | 0.00 | 147 |
| 2021-11-01 | $87,738 (-26.6%) | $113,630 (-26.0%) | 0.00 | 146 |
| 2021-12-01 | $85,850 (-27.4%) | $115,638 (-24.4%) | 0.00 | 134 |
| 2022-01-01 | $85,000 (-19.1%) | $104,684 (-27.5%) | 0.00 | 118 |
| 2022-02-01 | $84,975 (-19.1%) | $113,395 (-22.0%) | 0.00 | 105 |
| 2022-03-01 | $105,400 (-2.0%) | $134,267 (-9.3%) | 0.00 | 112 |
| 2022-04-01 | $115,000 (22.7%) | $144,022 (7.1%) | 0.00 | 119 |
| 2022-05-01 | $125,200 (33.6%) | $153,146 (21.1%) | 0.00 | 125 |
| 2022-06-01 | $127,675 (35.5%) | $162,932 (30.4%) | 0.00 | 133 |
| 2022-07-01 | $124,900 (31.5%) | $156,119 (23.8%) | 0.00 | 149 |
| 2022-08-01 | $126,250 (19.4%) | $159,540 (18.5%) | 0.00 | 130 |
| 2022-09-01 | $122,100 (28.4%) | $149,891 (17.3%) | 0.00 | 124 |
| 2022-10-01 | $120,000 (26.3%) | $147,609 (14.9%) | 0.00 | 122 |
| 2022-11-01 | $115,000 (31.1%) | $133,416 (17.4%) | 0.00 | 133 |
| 2022-12-01 | $113,750 (32.5%) | $125,290 (8.4%) | 0.00 | 115 |
| 2023-01-01 | $114,000 (34.1%) | $133,705 (27.7%) | 0.00 | 103 |
| 2023-02-01 | $115,375 (35.8%) | $137,772 (21.5%) | 0.00 | 102 |
| 2023-03-01 | $123,700 (17.4%) | $153,896 (14.6%) | 0.00 | 98 |
| 2023-04-01 | $125,000 (8.7%) | $158,386 (10.0%) | 0.00 | 96 |
| 2023-05-01 | $124,999 (-0.2%) | $158,585 (3.6%) | 0.00 | 92 |
| 2023-06-01 | $130,795 (2.4%) | $152,759 (-6.2%) | 0.00 | 97 |
| 2023-07-01 | $128,180 (2.6%) | $157,080 (0.6%) | 0.00 | 89 |
| 2023-08-01 | $127,450 (1.0%) | $159,241 (-0.2%) | 0.00 | 93 |
| 2023-09-01 | $125,000 (2.4%) | $160,930 (7.4%) | 0.00 | 97 |
| 2023-10-01 | $123,378 (2.8%) | $160,685 (8.9%) | 0.00 | 109 |
| 2023-11-01 | $126,425 (9.9%) | $164,402 (23.2%) | 0.00 | 113 |
| 2023-12-01 | $114,500 (0.7%) | $149,394 (19.2%) | 0.00 | 111 |
| 2024-01-01 | $119,750 (5.0%) | $154,428 (15.5%) | 0.00 | 109 |
| 2024-02-01 | $122,000 (5.7%) | $157,850 (14.6%) | 0.00 | 109 |
| 2024-03-01 | $122,000 (-1.4%) | $148,702 (-3.4%) | 0.00 | 121 |
| 2024-04-01 | $125,000 (0.0%) | $161,020 (1.7%) | 0.00 | 128 |
| 2024-05-01 | $124,925 (-0.1%) | $170,483 (7.5%) | 0.00 | 139 |
| 2024-06-01 | $124,500 (-4.8%) | $172,951 (13.2%) | 0.00 | 137 |
| 2024-07-01 | $139,125 (8.5%) | $188,284 (19.9%) | 0.00 | 136 |
| 2024-08-01 | $145,000 (13.8%) | $191,519 (20.3%) | 0.00 | 148 |
| 2024-09-01 | $142,700 (14.2%) | $183,847 (14.2%) | 0.00 | 143 |
| 2024-10-01 | $139,300 (12.9%) | $174,596 (8.7%) | 0.00 | 181 |
| 2024-11-01 | $124,900 (-1.2%) | $170,265 (3.6%) | 0.00 | 175 |
Fort Madison's median listing price comes in at 0% of the national average.
Fort Madison's average listing price for 2024-11-01 was $170,265, a difference of $5,863 (3.6%) versus the prior year and $-4,331 versus the prior month.
For the 2024-11-01 period, Fort Madison had 175 MLS listings, a difference of -6 listings (-3%) versus the prior month and 62 listings (55%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Fort Madison (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,488 sqft |
| 2018-02-01 | 0 days | 1,514 sqft |
| 2018-03-01 | 0 days | 1,513 sqft |
| 2018-04-01 | 0 days | 1,489 sqft |
| 2018-05-01 | 0 days | 1,467 sqft |
| 2018-06-01 | 0 days | 1,440 sqft |
| 2018-07-01 | 0 days | 1,423 sqft |
| 2018-08-01 | 0 days | 1,464 sqft |
| 2018-09-01 | 0 days | 1,404 sqft |
| 2018-10-01 | 0 days | 1,423 sqft |
| 2018-11-01 | 0 days | 1,440 sqft |
| 2018-12-01 | 0 days | 1,437 sqft |
| 2019-01-01 | 0 days | 1,408 sqft |
| 2019-02-01 | 0 days | 1,424 sqft |
| 2019-03-01 | 0 days | 1,426 sqft |
| 2019-04-01 | 0 days | 1,404 sqft |
| 2019-05-01 | 0 days | 1,408 sqft |
| 2019-06-01 | 0 days | 1,440 sqft |
| 2019-07-01 | 0 days | 1,506 sqft |
| 2019-08-01 | 0 days | 1,517 sqft |
| 2019-09-01 | 0 days | 1,539 sqft |
| 2019-10-01 | 0 days | 1,561 sqft |
| 2019-11-01 | 0 days | 1,536 sqft |
| 2019-12-01 | 0 days | 1,506 sqft |
| 2020-01-01 | 0 days | 1,774 sqft |
| 2020-02-01 | 0 days | 1,516 sqft |
| 2020-03-01 | 0 days | 1,501 sqft |
| 2020-04-01 | 0 days | 1,503 sqft |
| 2020-05-01 | 0 days | 1,480 sqft |
| 2020-06-01 | 0 days | 1,444 sqft |
| 2020-07-01 | 0 days | 1,456 sqft |
| 2020-08-01 | 0 days | 1,488 sqft |
| 2020-09-01 | 0 days | 1,447 sqft |
| 2020-10-01 | 0 days | 1,440 sqft |
| 2020-11-01 | 0 days | 1,474 sqft |
| 2020-12-01 | 0 days | 1,489 sqft |
| 2021-01-01 | 0 days | 1,486 sqft |
| 2021-02-01 | 0 days | 1,501 sqft |
| 2021-03-01 | 0 days | 1,560 sqft |
| 2021-04-01 | 0 days | 1,456 sqft |
| 2021-05-01 | 0 days | 1,453 sqft |
| 2021-06-01 | 0 days | 1,445 sqft |
| 2021-07-01 | 0 days | 1,434 sqft |
| 2021-08-01 | 0 days | 1,503 sqft |
| 2021-09-01 | 0 days | 1,552 sqft |
| 2021-10-01 | 0 days | 1,456 sqft |
| 2021-11-01 | 0 days | 1,380 sqft |
| 2021-12-01 | 0 days | 1,353 sqft |
| 2022-01-01 | 0 days | 1,330 sqft |
| 2022-02-01 | 0 days | 1,398 sqft |
| 2022-03-01 | 0 days | 1,430 sqft |
| 2022-04-01 | 0 days | 1,456 sqft |
| 2022-05-01 | 0 days | 1,468 sqft |
| 2022-06-01 | 0 days | 1,486 sqft |
| 2022-07-01 | 0 days | 1,424 sqft |
| 2022-08-01 | 0 days | 1,403 sqft |
| 2022-09-01 | 0 days | 1,330 sqft |
| 2022-10-01 | 0 days | 1,357 sqft |
| 2022-11-01 | 0 days | 1,417 sqft |
| 2022-12-01 | 0 days | 1,448 sqft |
| 2023-01-01 | 0 days | 1,467 sqft |
| 2023-02-01 | 0 days | 1,456 sqft |
| 2023-03-01 | 0 days | 1,494 sqft |
| 2023-04-01 | 0 days | 1,469 sqft |
| 2023-05-01 | 0 days | 1,430 sqft |
| 2023-06-01 | 0 days | 1,400 sqft |
| 2023-07-01 | 0 days | 1,400 sqft |
| 2023-08-01 | 0 days | 1,462 sqft |
| 2023-09-01 | 0 days | 1,443 sqft |
| 2023-10-01 | 0 days | 1,438 sqft |
| 2023-11-01 | 0 days | 1,451 sqft |
| 2023-12-01 | 0 days | 1,461 sqft |
| 2024-01-01 | 0 days | 1,441 sqft |
| 2024-02-01 | 0 days | 1,443 sqft |
| 2024-03-01 | 0 days | 1,436 sqft |
| 2024-04-01 | 0 days | 1,444 sqft |
| 2024-05-01 | 0 days | 1,443 sqft |
| 2024-06-01 | 0 days | 1,456 sqft |
| 2024-07-01 | 0 days | 1,502 sqft |
| 2024-08-01 | 0 days | 1,577 sqft |
| 2024-09-01 | 0 days | 1,514 sqft |
| 2024-10-01 | 0 days | 1,517 sqft |
| 2024-11-01 | 0 days | 1,508 sqft |
Fort Madison's median square footage for active listings during the 2024-11-01 period was 1,508 sqft. One year prior, the average listing was 1,451 sqft.