Hot Springs USDA Loan Rates, Closing Costs & Stats

HOT SPRINGS, AR

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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.

    Hot Springs's 15 lenders originated 22 USDA loans during 2023. The total origination value was $3,840,000, with an average USDA loan value of $174,545.

    Hot Springs USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Hot Springs averaged 6.9% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Hot Springs's average USDA mortgage closing costs are $3,294.

    The average rate for the prior week (2024-04-12) was 6.75% and one month ago for the week of 2024-03-15, the average rate was 6.94%.

    The average rate one year ago was 6.57%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.26%.

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

    Hot Springs 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 Hot Springs level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    SWBC MORTGAGE CORPORATION 5 7.03% $2,762
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.58% $3,275
    FirstTrust Home Loans, Inc. 2 6.75% $5,889
    Eagle Bank and Trust Company 1 6.38% $5,542
    EVERETT FINANCIAL, INC. 1 6.38% $6,701
    First Security Bank 1 7.13% $3,503
    FLAT BRANCH MORTGAGE, INC. 1 6.75% $5,761
    Magnolia Bank 1 6.00% $5,259
    MORTGAGE INVESTORS GROUP, INC. 1 5.25% $5,893
    Regions Bank 1 6.25% $4,660
    TOP FLITE FINANCIAL, INC. 1 7.00% $6,185
    AMERICAN FINANCIAL NETWORK, INC. 1 6.13% $8,981
    UNITED WHOLESALE MORTGAGE, LLC 1 5.88% $5,133
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.75% $5,483
    Arvest Bank 1 6.00% $7,941

    The top Hot Springs USDA lender as defined by loan originations is SWBC MORTGAGE CORPORATION, with 5 USDA loans originated. Their average total fees are $2,762, which is $513 lower than the next largest lender, PRIMARY RESIDENTIAL MORTGAGE, INC..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hot Springs (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 $209,125 (4.7%) $301,597 (6.5%) 0.00 904
    2018-02-01 $209,600 (3.9%) $298,509 (4.5%) 0.00 926
    2018-03-01 $219,900 (5.4%) $300,406 (4.5%) 0.00 961
    2018-04-01 $224,900 (7.6%) $304,733 (5.3%) 0.00 1,022
    2018-05-01 $224,900 (3.1%) $306,269 (4.3%) 0.00 1,064
    2018-06-01 $224,900 (2.5%) $310,079 (4.5%) 0.00 1,066
    2018-07-01 $219,225 (-0.4%) $297,016 (-3.6%) 0.00 1,085
    2018-08-01 $213,725 (-2.4%) $291,558 (-4.2%) 0.00 1,071
    2018-09-01 $215,500 (0.4%) $291,501 (-2.8%) 0.00 1,039
    2018-10-01 $199,450 (-6.1%) $282,413 (-3.8%) 0.00 1,030
    2018-11-01 $199,000 (-2.3%) $282,365 (-3.9%) 0.00 983
    2018-12-01 $198,500 (-5.1%) $282,690 (-5.3%) 0.00 920
    2019-01-01 $198,125 (-5.3%) $282,134 (-6.5%) 0.00 866
    2019-02-01 $197,350 (-5.8%) $282,812 (-5.3%) 0.00 905
    2019-03-01 $205,814 (-6.4%) $294,265 (-2.0%) 0.00 895
    2019-04-01 $214,950 (-4.4%) $311,212 (2.1%) 0.00 876
    2019-05-01 $219,450 (-2.4%) $317,600 (3.7%) 0.00 890
    2019-06-01 $224,000 (-0.4%) $318,335 (2.7%) 0.00 879
    2019-07-01 $224,900 (2.6%) $318,411 (7.2%) 0.00 887
    2019-08-01 $222,424 (4.1%) $318,750 (9.3%) 0.00 872
    2019-09-01 $224,185 (4.0%) $319,942 (9.8%) 0.00 847
    2019-10-01 $225,916 (13.3%) $320,737 (13.6%) 0.00 824
    2019-11-01 $238,500 (19.9%) $319,614 (13.2%) 0.00 736
    2019-12-01 $239,800 (20.8%) $326,326 (15.4%) 0.00 720
    2020-01-01 $239,200 (20.7%) $320,874 (13.7%) 0.00 687
    2020-02-01 $237,000 (20.1%) $318,878 (12.8%) 0.00 704
    2020-03-01 $239,450 (16.3%) $323,825 (10.1%) 0.00 703
    2020-04-01 $239,000 (11.2%) $318,942 (2.5%) 0.00 675
    2020-05-01 $239,900 (9.3%) $329,783 (3.8%) 0.00 663
    2020-06-01 $244,500 (9.2%) $338,787 (6.4%) 0.00 652
    2020-07-01 $250,000 (11.2%) $356,905 (12.1%) 0.00 600
    2020-08-01 $250,000 (12.4%) $356,979 (12.0%) 0.00 538
    2020-09-01 $256,000 (14.2%) $365,311 (14.2%) 0.00 490
    2020-10-01 $265,000 (17.3%) $369,033 (15.1%) 0.00 451
    2020-11-01 $269,500 (13.0%) $366,401 (14.6%) 0.00 401
    2020-12-01 $259,395 (8.2%) $360,101 (10.4%) 0.00 393
    2021-01-01 $260,845 (9.1%) $363,862 (13.4%) 0.00 366
    2021-02-01 $263,450 (11.2%) $381,416 (19.6%) 0.00 380
    2021-03-01 $271,163 (13.2%) $387,565 (19.7%) 0.00 342
    2021-04-01 $285,725 (19.6%) $414,705 (30.0%) 0.00 323
    2021-05-01 $299,900 (25.0%) $424,839 (28.8%) 0.00 369
    2021-06-01 $317,475 (29.9%) $456,594 (34.8%) 0.00 399
    2021-07-01 $319,900 (28.0%) $451,421 (26.5%) 0.00 428
    2021-08-01 $349,000 (39.6%) $474,643 (33.0%) 0.00 437
    2021-09-01 $349,450 (36.5%) $476,839 (30.5%) 0.00 436
    2021-10-01 $319,900 (20.7%) $463,210 (25.5%) 0.00 414
    2021-11-01 $324,250 (20.3%) $459,486 (25.4%) 0.00 398
    2021-12-01 $331,100 (27.6%) $462,959 (28.6%) 0.00 351
    2022-01-01 $325,000 (24.6%) $449,352 (23.5%) 0.00 308
    2022-02-01 $319,500 (21.3%) $466,246 (22.2%) 0.00 315
    2022-03-01 $322,500 (18.9%) $502,839 (29.7%) 0.00 313
    2022-04-01 $325,000 (13.8%) $498,290 (20.2%) 0.00 343
    2022-05-01 $326,200 (8.8%) $514,437 (21.1%) 0.00 343
    2022-06-01 $336,000 (5.8%) $487,453 (6.8%) 0.00 363
    2022-07-01 $349,700 (9.3%) $475,816 (5.4%) 0.00 397
    2022-08-01 $344,950 (-1.2%) $491,222 (3.5%) 0.00 430
    2022-09-01 $350,125 (0.2%) $499,487 (4.8%) 0.00 437
    2022-10-01 $349,900 (9.4%) $492,652 (6.4%) 0.00 467
    2022-11-01 $349,475 (7.8%) $466,623 (1.6%) 0.00 481
    2022-12-01 $325,200 (-1.8%) $452,194 (-2.3%) 0.00 443
    2023-01-01 $315,000 (-3.1%) $442,752 (-1.5%) 0.00 406
    2023-02-01 $310,725 (-2.8%) $453,432 (-2.8%) 0.00 416
    2023-03-01 $319,750 (-0.9%) $462,719 (-8.0%) 0.00 435
    2023-04-01 $325,000 (0.0%) $460,410 (-7.6%) 0.00 462
    2023-05-01 $322,500 (-1.1%) $466,928 (-9.2%) 0.00 462
    2023-06-01 $334,450 (-0.5%) $490,767 (0.7%) 0.00 487
    2023-07-01 $352,500 (0.8%) $526,488 (10.7%) 0.00 511
    2023-08-01 $354,450 (2.8%) $525,977 (7.1%) 0.00 516
    2023-09-01 $365,000 (4.3%) $515,085 (3.1%) 0.00 507
    2023-10-01 $349,950 (0.0%) $495,550 (0.6%) 0.00 525
    2023-11-01 $351,250 (0.5%) $501,676 (7.5%) 0.00 540
    2023-12-01 $345,450 (6.2%) $492,040 (8.8%) 0.00 527
    2024-01-01 $349,900 (11.1%) $484,800 (9.5%) 0.00 511
    2024-02-01 $349,800 (12.6%) $471,272 (3.9%) 0.00 529
    2024-03-01 $349,450 (9.3%) $468,050 (1.2%) 0.00 625
    Hot Springs's median listing price for 2024-03-01 was $349,450, a difference of $29,700 (9.3%) versus the prior year and $-350 versus the prior month.

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

    Hot Springs's average listing price for 2024-03-01 was $468,050, a difference of $5,331 (1.2%) versus the prior year and $-3,222 versus the prior month.

    For the 2024-03-01 period, Hot Springs had 625 MLS listings, a difference of 96 listings (18%) versus the prior month and 190 listings (44%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hot Springs (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,957 sqft
    2018-02-01 0 days 1,950 sqft
    2018-03-01 0 days 1,945 sqft
    2018-04-01 0 days 1,957 sqft
    2018-05-01 0 days 1,982 sqft
    2018-06-01 0 days 2,016 sqft
    2018-07-01 0 days 1,999 sqft
    2018-08-01 0 days 2,000 sqft
    2018-09-01 0 days 1,978 sqft
    2018-10-01 0 days 1,915 sqft
    2018-11-01 0 days 1,895 sqft
    2018-12-01 0 days 1,895 sqft
    2019-01-01 0 days 1,877 sqft
    2019-02-01 0 days 1,881 sqft
    2019-03-01 0 days 1,901 sqft
    2019-04-01 0 days 1,931 sqft
    2019-05-01 0 days 2,000 sqft
    2019-06-01 0 days 2,010 sqft
    2019-07-01 0 days 2,000 sqft
    2019-08-01 0 days 2,000 sqft
    2019-09-01 0 days 1,983 sqft
    2019-10-01 0 days 1,973 sqft
    2019-11-01 0 days 2,064 sqft
    2019-12-01 0 days 2,024 sqft
    2020-01-01 0 days 1,997 sqft
    2020-02-01 0 days 1,968 sqft
    2020-03-01 0 days 1,969 sqft
    2020-04-01 0 days 1,967 sqft
    2020-05-01 0 days 1,994 sqft
    2020-06-01 0 days 2,079 sqft
    2020-07-01 0 days 2,113 sqft
    2020-08-01 0 days 2,196 sqft
    2020-09-01 0 days 2,174 sqft
    2020-10-01 0 days 2,160 sqft
    2020-11-01 0 days 2,112 sqft
    2020-12-01 0 days 2,007 sqft
    2021-01-01 0 days 1,920 sqft
    2021-02-01 0 days 1,922 sqft
    2021-03-01 0 days 1,902 sqft
    2021-04-01 0 days 1,928 sqft
    2021-05-01 0 days 1,920 sqft
    2021-06-01 0 days 2,100 sqft
    2021-07-01 0 days 2,009 sqft
    2021-08-01 0 days 2,100 sqft
    2021-09-01 0 days 2,052 sqft
    2021-10-01 0 days 2,141 sqft
    2021-11-01 0 days 2,133 sqft
    2021-12-01 0 days 2,069 sqft
    2022-01-01 0 days 2,013 sqft
    2022-02-01 0 days 2,016 sqft
    2022-03-01 0 days 1,944 sqft
    2022-04-01 0 days 1,885 sqft
    2022-05-01 0 days 2,021 sqft
    2022-06-01 0 days 2,126 sqft
    2022-07-01 0 days 2,116 sqft
    2022-08-01 0 days 2,038 sqft
    2022-09-01 0 days 1,928 sqft
    2022-10-01 0 days 1,920 sqft
    2022-11-01 0 days 1,861 sqft
    2022-12-01 0 days 1,772 sqft
    2023-01-01 0 days 1,725 sqft
    2023-02-01 0 days 1,717 sqft
    2023-03-01 0 days 1,719 sqft
    2023-04-01 0 days 1,755 sqft
    2023-05-01 0 days 1,782 sqft
    2023-06-01 0 days 1,859 sqft
    2023-07-01 0 days 1,856 sqft
    2023-08-01 0 days 1,838 sqft
    2023-09-01 0 days 1,752 sqft
    2023-10-01 0 days 1,771 sqft
    2023-11-01 0 days 1,808 sqft
    2023-12-01 0 days 1,809 sqft
    2024-01-01 0 days 1,817 sqft
    2024-02-01 0 days 1,800 sqft
    2024-03-01 0 days 1,776 sqft
    Hot Springs's median listing age (time on market) for 2024-03-01 was 0 days.

    Hot Springs's median square footage for active listings during the 2024-03-01 period was 1,776 sqft. One year prior, the average listing was 1,719 sqft.