Freeport USDA Loan Rates, Closing Costs & Stats

Freeport, IL

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 6.87% for the week of 2024-03-22, compared to the national average (all USDA variants) of 6.674% for the same period.

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

The average rate for the prior week (2024-03-15) was 6.69% and one month ago for the week of 2024-02-16, the average rate was 6.57%.

The average rate one year ago was 6.37%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.57%.

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
Freeport's median listing price for 2024-02-01 was $128,650, a difference of $51,425 (66.6%) versus the prior year and $2,050 versus the prior month.

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

Freeport's average listing price for 2024-02-01 was $184,826, a difference of $55,321 (42.7%) versus the prior year and $1,577 versus the prior month.

For the 2024-02-01 period, Freeport had 84 MLS listings, a difference of -8 listings (-9%) versus the prior month and -11 listings (-12%) 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
Freeport's median listing age (time on market) for 2024-02-01 was 0 days.

Freeport's median square footage for active listings during the 2024-02-01 period was 1,675 sqft. One year prior, the average listing was 1,516 sqft.