Grand Island USDA Loan Rates, Closing Costs & Stats

GRAND ISLAND, NE

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    • 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.

    Grand Island's 4 lenders originated 9 USDA loans during 2023. The total origination value was $1,425,000, with an average USDA loan value of $158,333.

    Grand Island USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Grand Island averaged 6.59% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

    Grand Island's average USDA mortgage closing costs are $3,716.

    The average rate for the prior week (2024-04-05) was 6.42% and one month ago for the week of 2024-03-08, the average rate was 6.57%.

    The average rate one year ago was 6.48%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.61%.

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

    Grand Island 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 Grand Island level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CHARTER WEST BANK 3 6.38% $5,847
    Pinnacle Bank 3 6.67% $4,983
    UNION HOME MORTGAGE CORP. 1 6.13% $4,354
    West Gate Bank 1 5.13% $3,926

    The top Grand Island USDA lender as defined by loan originations is CHARTER WEST BANK, with 3 USDA loans originated. Their average total fees are $5,847, which is $864 higher than the next largest lender, Pinnacle Bank.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Grand Island (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 $206,500 (5.0%) $241,252 (10.7%) 0.00 136
    2018-02-01 $201,750 (6.6%) $245,017 (13.9%) 0.00 127
    2018-03-01 $211,250 (12.9%) $244,355 (14.8%) 0.00 126
    2018-04-01 $229,750 (27.7%) $254,518 (21.0%) 0.00 126
    2018-05-01 $225,750 (21.1%) $250,302 (15.0%) 0.00 131
    2018-06-01 $209,900 (8.5%) $240,867 (10.6%) 0.00 147
    2018-07-01 $204,950 (-1.8%) $239,885 (-2.2%) 0.00 154
    2018-08-01 $199,825 (-2.4%) $234,271 (-4.2%) 0.00 164
    2018-09-01 $199,900 (-4.9%) $235,604 (-4.3%) 0.00 155
    2018-10-01 $220,000 (6.9%) $248,238 (-0.2%) 0.00 153
    2018-11-01 $199,900 (3.2%) $242,041 (0.8%) 0.00 157
    2018-12-01 $195,000 (4.0%) $241,742 (3.9%) 0.00 141
    2019-01-01 $183,725 (-11.0%) $234,871 (-2.6%) 0.00 140
    2019-02-01 $177,200 (-12.2%) $221,279 (-9.7%) 0.00 146
    2019-03-01 $179,500 (-15.0%) $224,731 (-8.0%) 0.00 147
    2019-04-01 $187,250 (-18.5%) $232,640 (-8.6%) 0.00 146
    2019-05-01 $199,500 (-11.6%) $237,703 (-5.0%) 0.00 150
    2019-06-01 $194,900 (-7.2%) $220,833 (-8.3%) 0.00 145
    2019-07-01 $194,900 (-4.9%) $226,859 (-5.4%) 0.00 150
    2019-08-01 $198,991 (-0.4%) $240,066 (2.5%) 0.00 152
    2019-09-01 $205,127 (2.6%) $248,693 (5.6%) 0.00 155
    2019-10-01 $209,450 (-4.8%) $251,394 (1.3%) 0.00 163
    2019-11-01 $206,000 (3.1%) $247,312 (2.2%) 0.00 166
    2019-12-01 $201,225 (3.2%) $253,074 (4.7%) 0.00 163
    2020-01-01 $199,925 (8.8%) $254,985 (8.6%) 0.00 145
    2020-02-01 $199,000 (12.3%) $251,525 (13.7%) 0.00 141
    2020-03-01 $222,425 (23.9%) $262,798 (16.9%) 0.00 139
    2020-04-01 $198,725 (6.1%) $250,467 (7.7%) 0.00 158
    2020-05-01 $188,250 (-5.6%) $237,024 (-0.3%) 0.00 152
    2020-06-01 $188,125 (-3.5%) $249,080 (12.8%) 0.00 131
    2020-07-01 $216,250 (11.0%) $272,457 (20.1%) 0.00 103
    2020-08-01 $192,450 (-3.3%) $268,621 (11.9%) 0.00 90
    2020-09-01 $191,475 (-6.7%) $249,324 (0.3%) 0.00 93
    2020-10-01 $191,200 (-8.7%) $260,601 (3.7%) 0.00 84
    2020-11-01 $190,450 (-7.6%) $260,817 (5.5%) 0.00 91
    2020-12-01 $193,950 (-3.6%) $264,390 (4.5%) 0.00 84
    2021-01-01 $196,400 (-1.8%) $258,526 (1.4%) 0.00 80
    2021-02-01 $207,725 (4.4%) $269,443 (7.1%) 0.00 70
    2021-03-01 $225,950 (1.6%) $298,787 (13.7%) 0.00 54
    2021-04-01 $229,225 (15.4%) $306,706 (22.5%) 0.00 39
    2021-05-01 $220,000 (16.9%) $329,475 (39.0%) 0.00 46
    2021-06-01 $243,650 (29.5%) $337,776 (35.6%) 0.00 53
    2021-07-01 $238,000 (10.1%) $293,664 (7.8%) 0.00 58
    2021-08-01 $248,750 (29.3%) $294,247 (9.5%) 0.00 58
    2021-09-01 $237,475 (24.0%) $285,929 (14.7%) 0.00 63
    2021-10-01 $249,000 (30.2%) $283,172 (8.7%) 0.00 68
    2021-11-01 $228,650 (20.1%) $279,263 (7.1%) 0.00 60
    2021-12-01 $242,000 (24.8%) $297,052 (12.4%) 0.00 54
    2022-01-01 $247,500 (26.0%) $296,197 (14.6%) 0.00 60
    2022-02-01 $243,250 (17.1%) $289,167 (7.3%) 0.00 55
    2022-03-01 $234,975 (4.0%) $296,985 (-0.6%) 0.00 43
    2022-04-01 $240,950 (5.1%) $299,256 (-2.4%) 0.00 57
    2022-05-01 $249,500 (13.4%) $310,840 (-5.7%) 0.00 65
    2022-06-01 $258,675 (6.2%) $310,008 (-8.2%) 0.00 82
    2022-07-01 $285,000 (19.8%) $322,567 (9.8%) 0.00 98
    2022-08-01 $263,500 (5.9%) $296,334 (0.7%) 0.00 102
    2022-09-01 $273,450 (15.2%) $307,532 (7.6%) 0.00 90
    2022-10-01 $289,900 (16.4%) $317,563 (12.1%) 0.00 113
    2022-11-01 $289,900 (26.8%) $334,577 (19.8%) 0.00 115
    2022-12-01 $289,900 (19.8%) $342,040 (15.2%) 0.00 101
    2023-01-01 $289,900 (17.1%) $348,233 (17.6%) 0.00 98
    2023-02-01 $295,069 (21.3%) $370,866 (28.3%) 0.00 80
    2023-03-01 $297,450 (26.6%) $366,576 (23.4%) 0.00 79
    2023-04-01 $326,750 (35.6%) $375,820 (25.6%) 0.00 89
    2023-05-01 $314,950 (26.2%) $381,423 (22.7%) 0.00 91
    2023-06-01 $324,500 (25.5%) $372,381 (20.1%) 0.00 87
    2023-07-01 $300,000 (5.3%) $347,907 (7.9%) 0.00 107
    2023-08-01 $289,975 (10.1%) $349,359 (17.9%) 0.00 95
    2023-09-01 $299,000 (9.3%) $346,906 (12.8%) 0.00 92
    2023-10-01 $299,675 (3.4%) $346,518 (9.1%) 0.00 109
    2023-11-01 $305,000 (5.2%) $349,716 (4.5%) 0.00 116
    2023-12-01 $324,900 (12.1%) $350,118 (2.4%) 0.00 116
    2024-01-01 $324,925 (12.1%) $362,840 (4.2%) 0.00 115
    2024-02-01 $320,475 (8.6%) $354,784 (-4.3%) 0.00 113
    2024-03-01 $319,000 (7.2%) $346,230 (-5.6%) 0.00 98
    Grand Island's median listing price for 2024-03-01 was $319,000, a difference of $21,550 (7.2%) versus the prior year and $-1,475 versus the prior month.

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

    Grand Island's average listing price for 2024-03-01 was $346,230, a difference of $-20,346 (-5.6%) versus the prior year and $-8,554 versus the prior month.

    For the 2024-03-01 period, Grand Island had 98 MLS listings, a difference of -15 listings (-13%) versus the prior month and 19 listings (24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Grand Island (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,647 sqft
    2018-02-01 0 days 1,625 sqft
    2018-03-01 0 days 1,575 sqft
    2018-04-01 0 days 1,581 sqft
    2018-05-01 0 days 1,582 sqft
    2018-06-01 0 days 1,621 sqft
    2018-07-01 0 days 1,653 sqft
    2018-08-01 0 days 1,629 sqft
    2018-09-01 0 days 1,626 sqft
    2018-10-01 0 days 1,626 sqft
    2018-11-01 0 days 1,564 sqft
    2018-12-01 0 days 1,536 sqft
    2019-01-01 0 days 1,426 sqft
    2019-02-01 0 days 1,376 sqft
    2019-03-01 0 days 1,448 sqft
    2019-04-01 0 days 1,516 sqft
    2019-05-01 0 days 1,533 sqft
    2019-06-01 0 days 1,513 sqft
    2019-07-01 0 days 1,489 sqft
    2019-08-01 0 days 1,506 sqft
    2019-09-01 0 days 1,541 sqft
    2019-10-01 0 days 1,560 sqft
    2019-11-01 0 days 1,530 sqft
    2019-12-01 0 days 1,494 sqft
    2020-01-01 0 days 1,434 sqft
    2020-02-01 0 days 1,416 sqft
    2020-03-01 0 days 1,707 sqft
    2020-04-01 0 days 1,921 sqft
    2020-05-01 0 days 1,740 sqft
    2020-06-01 0 days 1,772 sqft
    2020-07-01 0 days 1,715 sqft
    2020-08-01 0 days 2,085 sqft
    2020-09-01 0 days 1,708 sqft
    2020-10-01 0 days 1,859 sqft
    2020-11-01 0 days 1,855 sqft
    2020-12-01 0 days 1,906 sqft
    2021-01-01 0 days 1,673 sqft
    2021-02-01 0 days 1,638 sqft
    2021-03-01 0 days 1,877 sqft
    2021-04-01 0 days 2,030 sqft
    2021-05-01 0 days 2,081 sqft
    2021-06-01 0 days 2,185 sqft
    2021-07-01 0 days 1,894 sqft
    2021-08-01 0 days 1,767 sqft
    2021-09-01 0 days 1,470 sqft
    2021-10-01 0 days 1,505 sqft
    2021-11-01 0 days 1,401 sqft
    2021-12-01 0 days 1,510 sqft
    2022-01-01 0 days 1,488 sqft
    2022-02-01 0 days 1,396 sqft
    2022-03-01 0 days 1,400 sqft
    2022-04-01 0 days 1,480 sqft
    2022-05-01 0 days 1,487 sqft
    2022-06-01 0 days 1,473 sqft
    2022-07-01 0 days 1,540 sqft
    2022-08-01 0 days 2,233 sqft
    2022-09-01 0 days 2,332 sqft
    2022-10-01 0 days 2,474 sqft
    2022-11-01 0 days 2,630 sqft
    2022-12-01 0 days 2,534 sqft
    2023-01-01 0 days 2,498 sqft
    2023-02-01 0 days 2,586 sqft
    2023-03-01 0 days 2,368 sqft
    2023-04-01 0 days 2,426 sqft
    2023-05-01 0 days 2,521 sqft
    2023-06-01 0 days 2,464 sqft
    2023-07-01 0 days 2,464 sqft
    2023-08-01 0 days 2,402 sqft
    2023-09-01 0 days 2,450 sqft
    2023-10-01 0 days 2,442 sqft
    2023-11-01 0 days 2,427 sqft
    2023-12-01 0 days 2,460 sqft
    2024-01-01 0 days 2,481 sqft
    2024-02-01 0 days 2,434 sqft
    2024-03-01 0 days 2,424 sqft
    Grand Island's median listing age (time on market) for 2024-03-01 was 0 days.

    Grand Island's median square footage for active listings during the 2024-03-01 period was 2,424 sqft. One year prior, the average listing was 2,368 sqft.