Freeport USDA Loan Rates, Closing Costs & Stats

Freeport, IL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Freeport's 4 lenders originated 5 USDA loans during 2023. The total origination value was $795,000, with an average USDA loan value of $159,000.

    Freeport USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Freeport averaged 6.2% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

    Freeport's average USDA mortgage closing costs are $3,650.

    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 6.35%.

    The average rate one year ago was 6.72%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.4%.

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

    Freeport 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 Freeport level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $6,023
    PLANET HOME LENDING, LLC 1 6.38% $5,252
    PLAZA HOME MORTGAGE, INC. 1 6.13% $6,918
    PNC Bank 1 6.25% $5,962

    The top Freeport USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 1 USDA loans originated. Their average total fees are $6,023, which is $771 higher than the next largest lender, PLANET HOME LENDING, LLC.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Freeport (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 $79,950 (-5.8%) $99,850 (-10.1%) 0.00 209
    2018-02-01 $81,200 (-4.4%) $102,479 (-10.3%) 0.00 207
    2018-03-01 $87,150 (-3.1%) $108,560 (-12.7%) 0.00 203
    2018-04-01 $89,950 (-3.2%) $115,711 (-13.1%) 0.00 219
    2018-05-01 $91,375 (-8.1%) $120,513 (-12.2%) 0.00 234
    2018-06-01 $91,000 (-6.3%) $127,794 (-1.8%) 0.00 229
    2018-07-01 $91,950 (2.3%) $129,269 (0.0%) 0.00 224
    2018-08-01 $84,975 (-5.5%) $125,905 (-2.1%) 0.00 219
    2018-09-01 $85,900 (-4.5%) $124,022 (-2.0%) 0.00 206
    2018-10-01 $89,900 (1.9%) $131,047 (11.8%) 0.00 188
    2018-11-01 $89,900 (5.9%) $135,685 (18.3%) 0.00 183
    2018-12-01 $89,900 (7.1%) $123,162 (14.8%) 0.00 175
    2019-01-01 $89,700 (12.2%) $122,297 (22.5%) 0.00 172
    2019-02-01 $93,900 (15.6%) $124,206 (21.2%) 0.00 170
    2019-03-01 $96,671 (10.9%) $127,232 (17.2%) 0.00 173
    2019-04-01 $99,400 (10.5%) $131,998 (14.1%) 0.00 177
    2019-05-01 $99,900 (9.3%) $138,259 (14.7%) 0.00 180
    2019-06-01 $104,500 (14.8%) $142,608 (11.6%) 0.00 183
    2019-07-01 $107,400 (16.8%) $142,015 (9.9%) 0.00 208
    2019-08-01 $111,109 (30.8%) $141,660 (12.5%) 0.00 213
    2019-09-01 $106,210 (23.6%) $139,176 (12.2%) 0.00 216
    2019-10-01 $102,400 (13.9%) $135,334 (3.3%) 0.00 217
    2019-11-01 $99,900 (11.1%) $128,056 (-5.6%) 0.00 212
    2019-12-01 $90,000 (0.1%) $123,317 (0.1%) 0.00 196
    2020-01-01 $90,450 (0.8%) $126,109 (3.1%) 0.00 175
    2020-02-01 $89,900 (-4.3%) $128,784 (3.7%) 0.00 166
    2020-03-01 $95,150 (-1.6%) $132,519 (4.2%) 0.00 154
    2020-04-01 $108,650 (9.3%) $140,219 (6.2%) 0.00 156
    2020-05-01 $119,900 (20.0%) $162,716 (17.7%) 0.00 132
    2020-06-01 $117,400 (12.3%) $159,194 (11.6%) 0.00 129
    2020-07-01 $115,925 (7.9%) $165,504 (16.5%) 0.00 126
    2020-08-01 $109,900 (-1.1%) $160,518 (13.3%) 0.00 110
    2020-09-01 $101,750 (-4.2%) $149,410 (7.4%) 0.00 106
    2020-10-01 $107,900 (5.4%) $164,525 (21.6%) 0.00 100
    2020-11-01 $101,750 (1.9%) $157,592 (23.1%) 0.00 97
    2020-12-01 $101,400 (12.7%) $158,959 (28.9%) 0.00 99
    2021-01-01 $87,500 (-3.3%) $155,110 (23.0%) 0.00 93
    2021-02-01 $83,600 (-7.0%) $159,942 (24.2%) 0.00 81
    2021-03-01 $82,625 (-13.2%) $156,828 (18.3%) 0.00 71
    2021-04-01 $108,308 (-0.3%) $166,932 (19.1%) 0.00 56
    2021-05-01 $129,900 (8.3%) $184,733 (13.5%) 0.00 50
    2021-06-01 $108,000 (-8.0%) $159,543 (0.2%) 0.00 49
    2021-07-01 $90,000 (-22.4%) $155,608 (-6.0%) 0.00 88
    2021-08-01 $125,000 (13.7%) $168,055 (4.7%) 0.00 98
    2021-09-01 $138,175 (35.8%) $189,221 (26.7%) 0.00 109
    2021-10-01 $144,900 (34.3%) $191,381 (16.3%) 0.00 125
    2021-11-01 $126,225 (24.1%) $175,239 (11.2%) 0.00 135
    2021-12-01 $128,450 (26.7%) $179,464 (12.9%) 0.00 117
    2022-01-01 $99,900 (14.2%) $144,579 (-6.8%) 0.00 103
    2022-02-01 $106,225 (27.1%) $146,648 (-8.3%) 0.00 87
    2022-03-01 $118,400 (43.3%) $161,352 (2.9%) 0.00 68
    2022-04-01 $131,400 (21.3%) $171,033 (2.5%) 0.00 70
    2022-05-01 $148,750 (14.5%) $197,889 (7.1%) 0.00 72
    2022-06-01 $159,900 (48.1%) $204,148 (28.0%) 0.00 69
    2022-07-01 $129,450 (43.8%) $187,982 (20.8%) 0.00 76
    2022-08-01 $152,725 (22.2%) $202,476 (20.5%) 0.00 82
    2022-09-01 $129,950 (-6.0%) $189,440 (0.1%) 0.00 83
    2022-10-01 $113,000 (-22.0%) $166,765 (-12.9%) 0.00 91
    2022-11-01 $128,900 (2.1%) $163,789 (-6.5%) 0.00 98
    2022-12-01 $128,400 (0.0%) $156,207 (-13.0%) 0.00 95
    2023-01-01 $114,225 (14.3%) $142,878 (-1.2%) 0.00 80
    2023-02-01 $77,225 (-27.3%) $129,505 (-11.7%) 0.00 95
    2023-03-01 $75,000 (-36.7%) $124,148 (-23.1%) 0.00 91
    2023-04-01 $75,000 (-42.9%) $136,004 (-20.5%) 0.00 87
    2023-05-01 $95,225 (-36.0%) $175,800 (-11.2%) 0.00 57
    2023-06-01 $130,650 (-18.3%) $180,076 (-11.8%) 0.00 65
    2023-07-01 $127,450 (-1.5%) $185,821 (-1.2%) 0.00 72
    2023-08-01 $110,675 (-27.5%) $173,591 (-14.3%) 0.00 84
    2023-09-01 $119,950 (-7.7%) $178,343 (-5.9%) 0.00 86
    2023-10-01 $144,900 (28.2%) $192,100 (15.2%) 0.00 90
    2023-11-01 $134,950 (4.7%) $187,246 (14.3%) 0.00 97
    2023-12-01 $125,000 (-2.7%) $174,691 (11.8%) 0.00 99
    2024-01-01 $126,600 (10.8%) $183,249 (28.3%) 0.00 92
    2024-02-01 $128,650 (66.6%) $184,826 (42.7%) 0.00 84
    2024-03-01 $149,950 (99.9%) $201,480 (62.3%) 0.00 82
    2024-04-01 $158,675 (111.6%) $209,529 (54.1%) 0.00 66
    2024-05-01 $150,000 (57.5%) $217,467 (23.7%) 0.00 62
    2024-06-01 $147,450 (12.9%) $215,762 (19.8%) 0.00 87
    2024-07-01 $132,500 (4.0%) $200,102 (7.7%) 0.00 97
    2024-08-01 $142,500 (28.8%) $199,517 (14.9%) 0.00 114
    2024-09-01 $149,175 (24.4%) $199,801 (12.0%) 0.00 114
    2024-10-01 $154,125 (6.4%) $201,003 (4.6%) 0.00 120
    2024-11-01 $148,450 (10.0%) $201,123 (7.4%) 0.00 108
    Freeport's median listing price for 2024-11-01 was $148,450, a difference of $13,500 (10.0%) versus the prior year and $-5,675 versus the prior month.

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

    Freeport's average listing price for 2024-11-01 was $201,123, a difference of $13,877 (7.4%) versus the prior year and $120 versus the prior month.

    For the 2024-11-01 period, Freeport had 108 MLS listings, a difference of -12 listings (-10%) versus the prior month and 11 listings (11%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Freeport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,559 sqft
    2018-02-01 0 days 1,554 sqft
    2018-03-01 0 days 1,584 sqft
    2018-04-01 0 days 1,588 sqft
    2018-05-01 0 days 1,595 sqft
    2018-06-01 0 days 1,650 sqft
    2018-07-01 0 days 1,655 sqft
    2018-08-01 0 days 1,625 sqft
    2018-09-01 0 days 1,624 sqft
    2018-10-01 0 days 1,665 sqft
    2018-11-01 0 days 1,689 sqft
    2018-12-01 0 days 1,644 sqft
    2019-01-01 0 days 1,628 sqft
    2019-02-01 0 days 1,662 sqft
    2019-03-01 0 days 1,653 sqft
    2019-04-01 0 days 1,644 sqft
    2019-05-01 0 days 1,573 sqft
    2019-06-01 0 days 1,664 sqft
    2019-07-01 0 days 1,765 sqft
    2019-08-01 0 days 1,784 sqft
    2019-09-01 0 days 1,761 sqft
    2019-10-01 0 days 1,754 sqft
    2019-11-01 0 days 1,758 sqft
    2019-12-01 0 days 1,678 sqft
    2020-01-01 0 days 1,697 sqft
    2020-02-01 0 days 1,673 sqft
    2020-03-01 0 days 1,746 sqft
    2020-04-01 0 days 1,818 sqft
    2020-05-01 0 days 1,827 sqft
    2020-06-01 0 days 1,791 sqft
    2020-07-01 0 days 1,693 sqft
    2020-08-01 0 days 1,597 sqft
    2020-09-01 0 days 1,612 sqft
    2020-10-01 0 days 1,640 sqft
    2020-11-01 0 days 1,633 sqft
    2020-12-01 0 days 1,650 sqft
    2021-01-01 0 days 1,628 sqft
    2021-02-01 0 days 1,598 sqft
    2021-03-01 0 days 1,581 sqft
    2021-04-01 0 days 1,674 sqft
    2021-05-01 0 days 1,743 sqft
    2021-06-01 0 days 1,533 sqft
    2021-07-01 0 days 1,680 sqft
    2021-08-01 0 days 1,748 sqft
    2021-09-01 0 days 1,877 sqft
    2021-10-01 0 days 1,800 sqft
    2021-11-01 0 days 1,788 sqft
    2021-12-01 0 days 1,812 sqft
    2022-01-01 0 days 1,608 sqft
    2022-02-01 0 days 1,650 sqft
    2022-03-01 0 days 1,782 sqft
    2022-04-01 0 days 1,783 sqft
    2022-05-01 0 days 1,823 sqft
    2022-06-01 0 days 1,846 sqft
    2022-07-01 0 days 1,770 sqft
    2022-08-01 0 days 1,952 sqft
    2022-09-01 0 days 1,815 sqft
    2022-10-01 0 days 1,800 sqft
    2022-11-01 0 days 1,667 sqft
    2022-12-01 0 days 1,684 sqft
    2023-01-01 0 days 1,593 sqft
    2023-02-01 0 days 1,516 sqft
    2023-03-01 0 days 1,445 sqft
    2023-04-01 0 days 1,456 sqft
    2023-05-01 0 days 1,559 sqft
    2023-06-01 0 days 1,645 sqft
    2023-07-01 0 days 1,613 sqft
    2023-08-01 0 days 1,620 sqft
    2023-09-01 0 days 1,704 sqft
    2023-10-01 0 days 1,706 sqft
    2023-11-01 0 days 1,680 sqft
    2023-12-01 0 days 1,734 sqft
    2024-01-01 0 days 1,672 sqft
    2024-02-01 0 days 1,675 sqft
    2024-03-01 0 days 1,664 sqft
    2024-04-01 0 days 1,683 sqft
    2024-05-01 0 days 1,736 sqft
    2024-06-01 0 days 1,854 sqft
    2024-07-01 0 days 1,777 sqft
    2024-08-01 0 days 1,780 sqft
    2024-09-01 0 days 1,794 sqft
    2024-10-01 0 days 1,777 sqft
    2024-11-01 0 days 1,792 sqft
    Freeport's median listing age (time on market) for 2024-11-01 was 0 days.

    Freeport's median square footage for active listings during the 2024-11-01 period was 1,792 sqft. One year prior, the average listing was 1,680 sqft.