Galesburg USDA Loan Rates, Closing Costs & Stats
Galesburg, 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.
Galesburg's 5 lenders originated 9 USDA loans during 2023. The total origination value was $765,000, with an average USDA loan value of $85,000.
Galesburg USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Galesburg
averaged
6.74%
for the week of 2024-11-08, compared to the national average (all USDA variants) of
6.477% for the same period.
Galesburg's average USDA mortgage closing costs are $3,093.
The average rate for the prior week (2024-11-01) was
6.61% and
one month ago for the week of 2024-10-04, the
average rate was 6.13%.
The average rate one year ago was 7.67%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.48%.
Galesburg 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 Galesburg level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Community Mortgage Banc Corporation | 3 | 7.21% | $2,790 |
| First Mid Bank & Trust | 3 | 6.54% | $3,109 |
| CRESCENT MORTGAGE COMPANY | 1 | 6.63% | $4,156 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.38% | $5,445 |
| INB | 1 | 7.13% | $2,818 |
The top Galesburg USDA lender as defined by loan originations is Community Mortgage Banc Corporation, with
3 USDA loans originated. Their average total fees are
$2,790, which is $319
lower than the next largest lender,
First Mid Bank & Trust.
The lowest fee Galesburg USDA lenders (with over 10 loans originated) are
.
The lowest rate Galesburg USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Galesburg (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 | $104,550 (1.3%) | $137,069 (0.8%) | 0.00 | 218 |
| 2018-02-01 | $99,375 (-4.8%) | $134,147 (-0.8%) | 0.00 | 216 |
| 2018-03-01 | $105,000 (-5.0%) | $144,971 (2.5%) | 0.00 | 232 |
| 2018-04-01 | $112,950 (-1.7%) | $151,595 (-2.6%) | 0.00 | 243 |
| 2018-05-01 | $109,800 (-10.7%) | $145,199 (-12.1%) | 0.00 | 261 |
| 2018-06-01 | $110,700 (-12.5%) | $151,052 (-9.9%) | 0.00 | 282 |
| 2018-07-01 | $111,375 (-10.2%) | $148,758 (-9.9%) | 0.00 | 308 |
| 2018-08-01 | $99,250 (-20.6%) | $138,257 (-18.2%) | 0.00 | 329 |
| 2018-09-01 | $97,400 (-22.5%) | $131,576 (-22.0%) | 0.00 | 324 |
| 2018-10-01 | $94,500 (-20.2%) | $130,682 (-19.7%) | 0.00 | 312 |
| 2018-11-01 | $94,975 (-14.3%) | $132,992 (-14.5%) | 0.00 | 278 |
| 2018-12-01 | $99,500 (-5.2%) | $130,497 (-6.8%) | 0.00 | 234 |
| 2019-01-01 | $103,725 (-0.8%) | $131,890 (-3.8%) | 0.00 | 224 |
| 2019-02-01 | $107,750 (8.4%) | $132,685 (-1.1%) | 0.00 | 214 |
| 2019-03-01 | $110,500 (5.2%) | $140,202 (-3.3%) | 0.00 | 198 |
| 2019-04-01 | $113,450 (0.4%) | $147,762 (-2.5%) | 0.00 | 187 |
| 2019-05-01 | $119,900 (9.2%) | $155,489 (7.1%) | 0.00 | 196 |
| 2019-06-01 | $112,900 (2.0%) | $152,152 (0.7%) | 0.00 | 214 |
| 2019-07-01 | $108,225 (-2.8%) | $155,451 (4.5%) | 0.00 | 220 |
| 2019-08-01 | $96,964 (-2.3%) | $155,664 (12.6%) | 0.00 | 224 |
| 2019-09-01 | $92,484 (-5.1%) | $157,573 (19.8%) | 0.00 | 233 |
| 2019-10-01 | $89,250 (-5.6%) | $158,846 (21.6%) | 0.00 | 238 |
| 2019-11-01 | $84,900 (-10.6%) | $151,056 (13.6%) | 0.00 | 241 |
| 2019-12-01 | $84,925 (-14.7%) | $151,227 (15.9%) | 0.00 | 221 |
| 2020-01-01 | $81,975 (-21.0%) | $147,254 (11.7%) | 0.00 | 197 |
| 2020-02-01 | $84,900 (-21.2%) | $151,073 (13.9%) | 0.00 | 178 |
| 2020-03-01 | $94,550 (-14.4%) | $159,932 (14.1%) | 0.00 | 182 |
| 2020-04-01 | $96,250 (-15.2%) | $138,955 (-6.0%) | 0.00 | 184 |
| 2020-05-01 | $101,900 (-15.0%) | $166,957 (7.4%) | 0.00 | 185 |
| 2020-06-01 | $104,225 (-7.7%) | $167,076 (9.8%) | 0.00 | 174 |
| 2020-07-01 | $109,450 (1.1%) | $171,686 (10.4%) | 0.00 | 167 |
| 2020-08-01 | $107,000 (10.4%) | $172,789 (11.0%) | 0.00 | 141 |
| 2020-09-01 | $96,950 (4.8%) | $165,100 (4.8%) | 0.00 | 131 |
| 2020-10-01 | $84,450 (-5.4%) | $160,105 (0.8%) | 0.00 | 122 |
| 2020-11-01 | $75,625 (-10.9%) | $141,649 (-6.2%) | 0.00 | 130 |
| 2020-12-01 | $75,875 (-10.7%) | $140,960 (-6.8%) | 0.00 | 107 |
| 2021-01-01 | $72,000 (-12.2%) | $113,415 (-23.0%) | 0.00 | 101 |
| 2021-02-01 | $79,900 (-5.9%) | $117,263 (-22.4%) | 0.00 | 97 |
| 2021-03-01 | $82,700 (-12.5%) | $130,077 (-18.7%) | 0.00 | 86 |
| 2021-04-01 | $87,900 (-8.7%) | $136,719 (-1.6%) | 0.00 | 71 |
| 2021-05-01 | $79,900 (-21.6%) | $133,530 (-20.0%) | 0.00 | 62 |
| 2021-06-01 | $95,900 (-8.0%) | $150,559 (-9.9%) | 0.00 | 71 |
| 2021-07-01 | $99,900 (-8.7%) | $158,490 (-7.7%) | 0.00 | 83 |
| 2021-08-01 | $117,450 (9.8%) | $157,351 (-8.9%) | 0.00 | 82 |
| 2021-09-01 | $129,950 (34.0%) | $177,226 (7.3%) | 0.00 | 94 |
| 2021-10-01 | $110,900 (31.3%) | $169,451 (5.8%) | 0.00 | 97 |
| 2021-11-01 | $102,200 (35.1%) | $146,232 (3.2%) | 0.00 | 104 |
| 2021-12-01 | $96,375 (27.0%) | $136,992 (-2.8%) | 0.00 | 100 |
| 2022-01-01 | $93,250 (29.5%) | $130,841 (15.4%) | 0.00 | 80 |
| 2022-02-01 | $100,425 (25.7%) | $145,894 (24.4%) | 0.00 | 58 |
| 2022-03-01 | $99,000 (19.7%) | $149,532 (15.0%) | 0.00 | 55 |
| 2022-04-01 | $102,500 (16.6%) | $162,160 (18.6%) | 0.00 | 72 |
| 2022-05-01 | $99,175 (24.1%) | $158,363 (18.6%) | 0.00 | 78 |
| 2022-06-01 | $93,950 (-2.0%) | $155,165 (3.1%) | 0.00 | 67 |
| 2022-07-01 | $96,200 (-3.7%) | $160,344 (1.2%) | 0.00 | 73 |
| 2022-08-01 | $94,450 (-19.6%) | $166,561 (5.9%) | 0.00 | 74 |
| 2022-09-01 | $99,575 (-23.4%) | $163,119 (-8.0%) | 0.00 | 78 |
| 2022-10-01 | $114,950 (3.7%) | $168,854 (-0.4%) | 0.00 | 82 |
| 2022-11-01 | $117,400 (14.9%) | $159,848 (9.3%) | 0.00 | 99 |
| 2022-12-01 | $115,000 (19.3%) | $166,887 (21.8%) | 0.00 | 89 |
| 2023-01-01 | $114,900 (23.2%) | $160,181 (22.4%) | 0.00 | 90 |
| 2023-02-01 | $125,300 (24.8%) | $173,602 (19.0%) | 0.00 | 82 |
| 2023-03-01 | $118,300 (19.5%) | $173,322 (15.9%) | 0.00 | 66 |
| 2023-04-01 | $143,500 (40.0%) | $198,608 (22.5%) | 0.00 | 60 |
| 2023-05-01 | $127,425 (28.5%) | $195,406 (23.4%) | 0.00 | 72 |
| 2023-06-01 | $127,950 (36.2%) | $203,371 (31.1%) | 0.00 | 79 |
| 2023-07-01 | $132,900 (38.2%) | $205,653 (28.3%) | 0.00 | 72 |
| 2023-08-01 | $125,175 (32.5%) | $203,185 (22.0%) | 0.00 | 80 |
| 2023-09-01 | $114,750 (15.2%) | $173,496 (6.4%) | 0.00 | 68 |
| 2023-10-01 | $110,500 (-3.9%) | $155,671 (-7.8%) | 0.00 | 79 |
| 2023-11-01 | $110,500 (-5.9%) | $148,117 (-7.3%) | 0.00 | 79 |
| 2023-12-01 | $112,450 (-2.2%) | $149,250 (-10.6%) | 0.00 | 74 |
| 2024-01-01 | $108,225 (-5.8%) | $148,685 (-7.2%) | 0.00 | 71 |
| 2024-02-01 | $94,950 (-24.2%) | $144,316 (-16.9%) | 0.00 | 68 |
| 2024-03-01 | $122,400 (3.5%) | $183,432 (5.8%) | 0.00 | 67 |
| 2024-04-01 | $143,475 (0.0%) | $205,836 (3.6%) | 0.00 | 72 |
| 2024-05-01 | $157,475 (23.6%) | $212,265 (8.6%) | 0.00 | 88 |
| 2024-06-01 | $155,000 (21.1%) | $212,543 (4.5%) | 0.00 | 93 |
| 2024-07-01 | $138,700 (4.4%) | $185,181 (-10.0%) | 0.00 | 101 |
| 2024-08-01 | $129,900 (3.8%) | $174,726 (-14.0%) | 0.00 | 91 |
| 2024-09-01 | $124,800 (8.8%) | $185,338 (6.8%) | 0.00 | 94 |
| 2024-10-01 | $119,900 (8.5%) | $176,525 (13.4%) | 0.00 | 112 |
Galesburg's median listing price comes in at 0% of the national average.
Galesburg's average listing price for 2024-10-01 was $176,525, a difference of $20,854 (13.4%) versus the prior year and $-8,813 versus the prior month.
For the 2024-10-01 period, Galesburg had 112 MLS listings, a difference of 18 listings (19%) versus the prior month and 33 listings (42%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Galesburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,526 sqft |
| 2018-02-01 | 0 days | 1,506 sqft |
| 2018-03-01 | 0 days | 1,521 sqft |
| 2018-04-01 | 0 days | 1,557 sqft |
| 2018-05-01 | 0 days | 1,517 sqft |
| 2018-06-01 | 0 days | 1,515 sqft |
| 2018-07-01 | 0 days | 1,522 sqft |
| 2018-08-01 | 0 days | 1,488 sqft |
| 2018-09-01 | 0 days | 1,488 sqft |
| 2018-10-01 | 0 days | 1,502 sqft |
| 2018-11-01 | 0 days | 1,483 sqft |
| 2018-12-01 | 0 days | 1,501 sqft |
| 2019-01-01 | 0 days | 1,546 sqft |
| 2019-02-01 | 0 days | 1,544 sqft |
| 2019-03-01 | 0 days | 1,569 sqft |
| 2019-04-01 | 0 days | 1,588 sqft |
| 2019-05-01 | 0 days | 1,603 sqft |
| 2019-06-01 | 0 days | 1,664 sqft |
| 2019-07-01 | 0 days | 1,664 sqft |
| 2019-08-01 | 0 days | 1,591 sqft |
| 2019-09-01 | 0 days | 1,579 sqft |
| 2019-10-01 | 0 days | 1,571 sqft |
| 2019-11-01 | 0 days | 1,532 sqft |
| 2019-12-01 | 0 days | 1,524 sqft |
| 2020-01-01 | 0 days | 1,532 sqft |
| 2020-02-01 | 0 days | 1,536 sqft |
| 2020-03-01 | 0 days | 1,545 sqft |
| 2020-04-01 | 0 days | 1,539 sqft |
| 2020-05-01 | 0 days | 1,566 sqft |
| 2020-06-01 | 0 days | 1,542 sqft |
| 2020-07-01 | 0 days | 1,646 sqft |
| 2020-08-01 | 0 days | 1,640 sqft |
| 2020-09-01 | 0 days | 1,606 sqft |
| 2020-10-01 | 0 days | 1,581 sqft |
| 2020-11-01 | 0 days | 1,555 sqft |
| 2020-12-01 | 0 days | 1,532 sqft |
| 2021-01-01 | 0 days | 1,440 sqft |
| 2021-02-01 | 0 days | 1,371 sqft |
| 2021-03-01 | 0 days | 1,400 sqft |
| 2021-04-01 | 0 days | 1,582 sqft |
| 2021-05-01 | 0 days | 1,510 sqft |
| 2021-06-01 | 0 days | 1,442 sqft |
| 2021-07-01 | 0 days | 1,464 sqft |
| 2021-08-01 | 0 days | 1,586 sqft |
| 2021-09-01 | 0 days | 1,632 sqft |
| 2021-10-01 | 0 days | 1,473 sqft |
| 2021-11-01 | 0 days | 1,437 sqft |
| 2021-12-01 | 0 days | 1,462 sqft |
| 2022-01-01 | 0 days | 1,506 sqft |
| 2022-02-01 | 0 days | 1,412 sqft |
| 2022-03-01 | 0 days | 1,399 sqft |
| 2022-04-01 | 0 days | 1,422 sqft |
| 2022-05-01 | 0 days | 1,472 sqft |
| 2022-06-01 | 0 days | 1,452 sqft |
| 2022-07-01 | 0 days | 1,400 sqft |
| 2022-08-01 | 0 days | 1,410 sqft |
| 2022-09-01 | 0 days | 1,349 sqft |
| 2022-10-01 | 0 days | 1,380 sqft |
| 2022-11-01 | 0 days | 1,411 sqft |
| 2022-12-01 | 0 days | 1,404 sqft |
| 2023-01-01 | 0 days | 1,398 sqft |
| 2023-02-01 | 0 days | 1,412 sqft |
| 2023-03-01 | 0 days | 1,429 sqft |
| 2023-04-01 | 0 days | 1,420 sqft |
| 2023-05-01 | 0 days | 1,448 sqft |
| 2023-06-01 | 0 days | 1,548 sqft |
| 2023-07-01 | 0 days | 1,637 sqft |
| 2023-08-01 | 0 days | 1,642 sqft |
| 2023-09-01 | 0 days | 1,602 sqft |
| 2023-10-01 | 0 days | 1,521 sqft |
| 2023-11-01 | 0 days | 1,389 sqft |
| 2023-12-01 | 0 days | 1,521 sqft |
| 2024-01-01 | 0 days | 1,450 sqft |
| 2024-02-01 | 0 days | 1,384 sqft |
| 2024-03-01 | 0 days | 1,466 sqft |
| 2024-04-01 | 0 days | 1,724 sqft |
| 2024-05-01 | 0 days | 1,862 sqft |
| 2024-06-01 | 0 days | 1,604 sqft |
| 2024-07-01 | 0 days | 1,542 sqft |
| 2024-08-01 | 0 days | 1,504 sqft |
| 2024-09-01 | 0 days | 1,568 sqft |
| 2024-10-01 | 0 days | 1,534 sqft |
Galesburg's median square footage for active listings during the 2024-10-01 period was 1,534 sqft. One year prior, the average listing was 1,521 sqft.