Grand Island USDA Loan Rates, Closing Costs & Stats

GRAND ISLAND, NE

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 -0.21% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

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

The average rate for the prior week (2024-11-22) was 6.39% and one month ago for the week of 2024-10-25, the average rate was 6.39%.

The average rate one year ago was 7.19%.

For refis of the same type during the week of 2024-11-29, the average rate was 0.2%.

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
2024-04-01 $314,725 (-3.7%) $346,683 (-7.8%) 0.00 85
2024-05-01 $319,700 (1.5%) $361,289 (-5.3%) 0.00 90
2024-06-01 $314,900 (-3.0%) $361,730 (-2.9%) 0.00 99
2024-07-01 $316,000 (5.3%) $377,924 (8.6%) 0.00 109
2024-08-01 $304,500 (5.0%) $387,978 (11.1%) 0.00 126
2024-09-01 $315,000 (5.4%) $373,094 (7.6%) 0.00 140
2024-10-01 $321,750 (7.4%) $372,976 (7.6%) 0.00 146
Grand Island's median listing price for 2024-10-01 was $321,750, a difference of $22,075 (7.4%) versus the prior year and $6,750 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 2024-10-01 was $372,976, a difference of $26,458 (7.6%) versus the prior year and $-118 versus the prior month.

For the 2024-10-01 period, Grand Island had 146 MLS listings, a difference of 6 listings (4%) versus the prior month and 37 listings (34%) 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
2024-04-01 0 days 2,398 sqft
2024-05-01 0 days 2,363 sqft
2024-06-01 0 days 2,328 sqft
2024-07-01 0 days 2,330 sqft
2024-08-01 0 days 2,360 sqft
2024-09-01 0 days 2,414 sqft
2024-10-01 0 days 2,460 sqft
Grand Island's median listing age (time on market) for 2024-10-01 was 0 days.

Grand Island's median square footage for active listings during the 2024-10-01 period was 2,460 sqft. One year prior, the average listing was 2,442 sqft.