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 0.09% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

Fort Madison's average USDA mortgage closing costs are $3,151.

The average rate for the prior week (2024-11-22) was 6.49% and one month ago for the week of 2024-10-25, the average rate was 6.29%.

The average rate one year ago was 7.09%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.1%.

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

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
Fort Madison's median listing price for 2024-10-01 was $139,300, a difference of $15,922 (12.9%) versus the prior year and $-3,400 versus the prior month.

Fort Madison's median listing price comes in at 0% of the national average.

Fort Madison's average listing price for 2024-10-01 was $174,596, a difference of $13,911 (8.7%) versus the prior year and $-9,251 versus the prior month.

For the 2024-10-01 period, Fort Madison had 181 MLS listings, a difference of 38 listings (27%) versus the prior month and 72 listings (66%) 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
Fort Madison's median listing age (time on market) for 2024-10-01 was 0 days.

Fort Madison's median square footage for active listings during the 2024-10-01 period was 1,517 sqft. One year prior, the average listing was 1,438 sqft.