Hutchinson USDA Loan Rates, Closing Costs & Stats

Hutchinson, MN

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.

Hutchinson's 20 lenders originated 38 USDA loans during 2022. The total origination value was $8,230,000, with an average USDA loan value of $216,579.

Hutchinson USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Hutchinson averaged 6.71% for the week of 2023-09-22, compared to the national average (all USDA variants) of 7.021% for the same period.

Hutchinson's average USDA mortgage closing costs are $5,151.

The average rate for the prior week (2023-09-15) was 6.87% and one month ago for the week of 2023-08-18, the average rate was 6.77%.

The average rate one year ago was 5.4%.

For refis of the same type during the week of 2023-09-22, the average rate was 7.02%.

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

Hutchinson 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 Hutchinson level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Summit Mortgage Corporation 9 4.32% $6,098
CROSSCOUNTRY MORTGAGE, LLC 3 5.17% $6,107
BROKER SOLUTIONS, INC. 2 5.69% $9,972
Wells Fargo Bank 2 5.56% $5,026
Bell Bank 2 4.06% $8,681
EVERETT FINANCIAL, INC. 2 4.06% $4,319
Flagstar Bank, FSB 2 3.19% $7,517
HOME POINT FINANCIAL CORPORATION 2 5.31% $9,535
Bank of England 1 4.38% $5,740
First Bank & Trust 1 4.88% $6,033
UNITED WHOLESALE MORTGAGE, LLC 1 5.49% $3,852
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 4.25% $7,393
LAKEVIEW LOAN SERVICING, LLC 1 3.38% $1,965
Minnwest Bank 1 7.13% $8,719
MOVEMENT MORTGAGE, LLC 1 4.75% $10,106
Paramount Residential Mortgage Group, Inc. 1 3.50% $7,821
PLAZA HOME MORTGAGE, INC. 1 4.99% $9,669
Carrington Mortgage Services, LLC 1 2.88% $4,060
CORTRUST MORTGAGE, INC. 1 2.38% $6,212
BankVista 1 6.25% $6,293

The top Hutchinson USDA lender as defined by loan originations is Summit Mortgage Corporation, with 9 USDA loans originated. Their average total fees are $6,098, which is $9 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Hutchinson (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 $183,450 (9.6%) $196,951 (0.4%) 0.00 69
2018-02-01 $179,900 (-2.1%) $203,128 (0.2%) 0.00 68
2018-03-01 $202,900 (10.0%) $217,164 (8.9%) 0.00 60
2018-04-01 $189,800 (11.7%) $216,940 (10.4%) 0.00 57
2018-05-01 $197,425 (14.5%) $222,967 (13.6%) 0.00 65
2018-06-01 $218,350 (19.0%) $235,513 (14.8%) 0.00 83
2018-07-01 $202,700 (13.4%) $228,635 (13.9%) 0.00 97
2018-08-01 $209,925 (17.3%) $224,212 (10.7%) 0.00 98
2018-09-01 $209,900 (23.5%) $223,603 (15.0%) 0.00 104
2018-10-01 $188,700 (2.5%) $222,034 (10.6%) 0.00 115
2018-11-01 $189,900 (7.4%) $220,650 (13.5%) 0.00 115
2018-12-01 $184,950 (5.7%) $217,612 (12.4%) 0.00 90
2019-01-01 $197,400 (7.6%) $215,309 (9.3%) 0.00 80
2019-02-01 $189,900 (5.6%) $227,036 (11.8%) 0.00 72
2019-03-01 $206,421 (1.7%) $232,376 (7.0%) 0.00 72
2019-04-01 $221,946 (16.9%) $236,543 (9.0%) 0.00 84
2019-05-01 $234,900 (19.0%) $247,466 (11.0%) 0.00 93
2019-06-01 $223,400 (2.3%) $239,993 (1.9%) 0.00 116
2019-07-01 $227,400 (12.2%) $241,054 (5.4%) 0.00 123
2019-08-01 $218,823 (4.2%) $238,388 (6.3%) 0.00 130
2019-09-01 $217,207 (3.5%) $242,156 (8.3%) 0.00 128
2019-10-01 $215,425 (14.2%) $239,227 (7.7%) 0.00 124
2019-11-01 $227,400 (19.8%) $240,783 (9.1%) 0.00 113
2019-12-01 $238,800 (29.1%) $246,600 (13.3%) 0.00 92
2020-01-01 $239,500 (21.3%) $248,992 (15.6%) 0.00 87
2020-02-01 $242,400 (27.7%) $249,114 (9.7%) 0.00 79
2020-03-01 $235,250 (14.0%) $239,697 (3.2%) 0.00 71
2020-04-01 $217,150 (-2.2%) $236,556 (0.0%) 0.00 68
2020-05-01 $229,900 (-2.1%) $244,539 (-1.2%) 0.00 75
2020-06-01 $225,500 (0.9%) $250,589 (4.4%) 0.00 81
2020-07-01 $229,450 (0.9%) $257,613 (6.9%) 0.00 71
2020-08-01 $229,900 (5.1%) $261,136 (9.5%) 0.00 66
2020-09-01 $228,675 (5.3%) $253,609 (4.7%) 0.00 63
2020-10-01 $232,450 (7.9%) $254,861 (6.5%) 0.00 51
2020-11-01 $225,000 (-1.1%) $254,006 (5.5%) 0.00 38
2020-12-01 $219,950 (-7.9%) $247,278 (0.3%) 0.00 31
2021-01-01 $249,950 (4.4%) $270,006 (8.4%) 0.00 30
2021-02-01 $238,700 (-1.5%) $246,379 (-1.1%) 0.00 27
2021-03-01 $251,700 (7.0%) $280,587 (17.1%) 0.00 29
2021-04-01 $262,530 (20.9%) $291,596 (23.3%) 0.00 39
2021-05-01 $256,900 (11.7%) $263,926 (7.9%) 0.00 31
2021-06-01 $267,175 (18.5%) $273,216 (9.0%) 0.00 37
2021-07-01 $253,450 (10.5%) $300,827 (16.8%) 0.00 40
2021-08-01 $272,400 (18.5%) $328,315 (25.7%) 0.00 50
2021-09-01 $255,400 (11.7%) $319,824 (26.1%) 0.00 68
2021-10-01 $264,900 (14.0%) $312,885 (22.8%) 0.00 61
2021-11-01 $259,900 (15.5%) $317,678 (25.1%) 0.00 56
2021-12-01 $256,750 (16.7%) $310,155 (25.4%) 0.00 40
2022-01-01 $259,900 (4.0%) $282,300 (4.6%) 0.00 32
2022-02-01 $278,750 (16.8%) $337,803 (37.1%) 0.00 27
2022-03-01 $272,200 (8.1%) $342,063 (21.9%) 0.00 24
2022-04-01 $299,900 (14.2%) $349,409 (19.8%) 0.00 31
2022-05-01 $305,000 (18.7%) $361,701 (37.1%) 0.00 37
2022-06-01 $312,425 (16.9%) $364,590 (33.4%) 0.00 44
2022-07-01 $314,900 (24.3%) $355,382 (18.1%) 0.00 49
2022-08-01 $297,750 (9.3%) $350,375 (6.7%) 0.00 47
2022-09-01 $258,475 (1.2%) $330,555 (3.4%) 0.00 47
2022-10-01 $249,950 (-5.6%) $314,056 (0.4%) 0.00 56
2022-11-01 $274,450 (5.6%) $315,416 (-0.7%) 0.00 55
2022-12-01 $254,950 (-0.7%) $287,538 (-7.3%) 0.00 40
2023-01-01 $269,900 (3.9%) $283,049 (0.3%) 0.00 37
2023-02-01 $317,400 (13.9%) $325,077 (-3.8%) 0.00 26
2023-03-01 $348,675 (28.1%) $364,525 (6.6%) 0.00 25
2023-04-01 $319,900 (6.7%) $372,292 (6.6%) 0.00 34
2023-05-01 $335,975 (10.2%) $376,697 (4.2%) 0.00 41
2023-06-01 $312,450 (0.0%) $365,181 (0.2%) 0.00 45
2023-07-01 $284,950 (-9.5%) $340,629 (-4.2%) 0.00 44
2023-08-01 $305,000 (2.4%) $344,152 (-1.8%) 0.00 48
Hutchinson's median listing price for 2023-08-01 was $305,000, a difference of $7,250 (2.4%) versus the prior year and $20,050 versus the prior month.

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

Hutchinson's average listing price for 2023-08-01 was $344,152, a difference of $-6,223 (-1.8%) versus the prior year and $3,523 versus the prior month.

For the 2023-08-01 period, Hutchinson had 48 MLS listings, a difference of 4 listings (9%) versus the prior month and 1 listings (2%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hutchinson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,765 sqft
2018-02-01 0 days 1,835 sqft
2018-03-01 0 days 1,892 sqft
2018-04-01 0 days 1,859 sqft
2018-05-01 0 days 1,880 sqft
2018-06-01 0 days 2,005 sqft
2018-07-01 0 days 1,892 sqft
2018-08-01 0 days 1,963 sqft
2018-09-01 0 days 2,020 sqft
2018-10-01 0 days 2,020 sqft
2018-11-01 0 days 2,045 sqft
2018-12-01 0 days 1,890 sqft
2019-01-01 0 days 1,856 sqft
2019-02-01 0 days 1,941 sqft
2019-03-01 0 days 1,928 sqft
2019-04-01 0 days 1,936 sqft
2019-05-01 0 days 1,900 sqft
2019-06-01 0 days 1,939 sqft
2019-07-01 0 days 1,950 sqft
2019-08-01 0 days 1,939 sqft
2019-09-01 0 days 1,922 sqft
2019-10-01 0 days 1,907 sqft
2019-11-01 0 days 1,938 sqft
2019-12-01 0 days 2,039 sqft
2020-01-01 0 days 2,001 sqft
2020-02-01 0 days 2,050 sqft
2020-03-01 0 days 1,924 sqft
2020-04-01 0 days 1,873 sqft
2020-05-01 0 days 1,955 sqft
2020-06-01 0 days 1,974 sqft
2020-07-01 0 days 1,972 sqft
2020-08-01 0 days 1,823 sqft
2020-09-01 0 days 1,784 sqft
2020-10-01 0 days 1,885 sqft
2020-11-01 0 days 2,058 sqft
2020-12-01 0 days 1,934 sqft
2021-01-01 0 days 1,886 sqft
2021-02-01 0 days 1,572 sqft
2021-03-01 0 days 1,982 sqft
2021-04-01 0 days 1,845 sqft
2021-05-01 0 days 1,767 sqft
2021-06-01 0 days 1,799 sqft
2021-07-01 0 days 1,646 sqft
2021-08-01 0 days 1,871 sqft
2021-09-01 0 days 1,831 sqft
2021-10-01 0 days 1,872 sqft
2021-11-01 0 days 1,903 sqft
2021-12-01 0 days 1,877 sqft
2022-01-01 0 days 1,706 sqft
2022-02-01 0 days 2,392 sqft
2022-03-01 0 days 2,236 sqft
2022-04-01 0 days 2,424 sqft
2022-05-01 0 days 2,108 sqft
2022-06-01 0 days 2,076 sqft
2022-07-01 0 days 2,068 sqft
2022-08-01 0 days 2,045 sqft
2022-09-01 0 days 1,828 sqft
2022-10-01 0 days 1,799 sqft
2022-11-01 0 days 1,902 sqft
2022-12-01 0 days 1,797 sqft
2023-01-01 0 days 1,686 sqft
2023-02-01 0 days 1,800 sqft
2023-03-01 0 days 2,072 sqft
2023-04-01 0 days 2,161 sqft
2023-05-01 0 days 2,192 sqft
2023-06-01 0 days 2,099 sqft
2023-07-01 0 days 1,833 sqft
2023-08-01 0 days 1,901 sqft
Hutchinson's median listing age (time on market) for 2023-08-01 was 0 days.

Hutchinson's median square footage for active listings during the 2023-08-01 period was 1,901 sqft. One year prior, the average listing was 2,045 sqft.