Hutchinson USDA Loan Rates, Closing Costs & Stats

Hutchinson, MN

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.