Janesville USDA Loan Rates, Closing Costs & Stats

JANESVILLE-BELOIT, WI

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.

Janesville's 8 lenders originated 12 USDA loans during 2021. The total origination value was $2,640,000, with an average USDA loan value of $220,000.

Janesville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Janesville averaged 6.09% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

Janesville's average USDA mortgage closing costs are $4,523.

The average rate for the prior week (2023-01-20) was 6.28% and one month ago for the week of 2022-12-23, the average rate was 6.41%.

The average rate one year ago was 4.06%.

For refis of the same type during the week of 2023-01-27, the average rate was 6.05%.

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

Janesville 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 Janesville level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Flagstar Bank, FSB 2 3.00% $4,468
NATIONS RELIABLE LENDING, LLC 2 4.00% $6,963
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.75% $3,798
INLANTA MORTGAGE, INC. 1 3.00% $4,152
PremierBank 1 3.13% $4,320
CIBC Bank USA 1 3.00% $5,399
THOMPSON KANE & COMPANY, LLC 1 3.25% $4,724
GUARANTEED RATE, INC. 1 2.88% $7,675

The top Janesville USDA lender as defined by loan originations is Flagstar Bank, FSB, with 2 USDA loans originated. Their average total fees are $4,468, which is $2,495 lower than the next largest lender, NATIONS RELIABLE LENDING, LLC.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Janesville (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 $167,300 (19.6%) $210,517 (13.7%) 0.62 304
2018-02-01 $162,925 (14.1%) $211,631 (12.1%) 0.59 275
2018-03-01 $184,900 (19.4%) $229,611 (15.8%) 0.65 226
2018-04-01 $187,450 (10.9%) $231,508 (7.5%) 0.64 238
2018-05-01 $186,475 (9.7%) $231,735 (6.2%) 0.62 240
2018-06-01 $205,000 (21.9%) $242,087 (10.9%) 0.68 269
2018-07-01 $209,900 (20.0%) $245,144 (8.9%) 0.70 308
2018-08-01 $209,900 (20.4%) $245,328 (9.3%) 0.70 400
2018-09-01 $194,900 (13.5%) $236,322 (7.1%) 0.65 431
2018-10-01 $194,950 (13.1%) $235,025 (6.3%) 0.66 432
2018-11-01 $194,950 (11.1%) $242,376 (13.2%) 0.66 407
2018-12-01 $185,000 (8.2%) $231,406 (8.0%) 0.64 375
2019-01-01 $188,400 (12.6%) $238,081 (13.1%) 0.65 334
2019-02-01 $189,950 (16.6%) $239,604 (13.2%) 0.64 287
2019-03-01 $211,869 (14.6%) $248,816 (8.4%) 0.69 279
2019-04-01 $219,369 (17.0%) $248,415 (7.3%) 0.70 293
2019-05-01 $224,975 (20.7%) $256,023 (10.5%) 0.70 318
2019-06-01 $225,000 (9.8%) $260,090 (7.4%) 0.70 310
2019-07-01 $227,425 (8.4%) $259,360 (5.8%) 0.71 331
2019-08-01 $227,173 (8.2%) $259,372 (5.7%) 0.72 356
2019-09-01 $223,082 (14.5%) $256,735 (8.6%) 0.71 379
2019-10-01 $218,950 (12.3%) $253,315 (7.8%) 0.71 395
2019-11-01 $214,900 (10.2%) $246,208 (1.6%) 0.70 354
2019-12-01 $214,400 (15.9%) $239,673 (3.6%) 0.71 334
2020-01-01 $209,725 (11.3%) $237,292 (-0.3%) 0.70 312
2020-02-01 $214,100 (12.7%) $241,518 (0.8%) 0.70 253
2020-03-01 $217,450 (2.6%) $244,676 (-1.7%) 0.68 243
2020-04-01 $218,600 (-0.4%) $239,358 (-3.7%) 0.68 261
2020-05-01 $223,900 (-0.5%) $248,478 (-3.0%) 0.68 234
2020-06-01 $219,600 (-2.4%) $257,076 (-1.2%) 0.65 206
2020-07-01 $230,150 (1.2%) $266,755 (2.9%) 0.67 194
2020-08-01 $249,000 (9.6%) $277,128 (6.9%) 0.71 212
2020-09-01 $222,725 (-0.2%) $273,540 (6.6%) 0.64 198
2020-10-01 $214,950 (-1.8%) $270,881 (6.9%) 0.62 204
2020-11-01 $212,950 (-0.9%) $258,430 (5.0%) 0.62 202
2020-12-01 $214,450 (0.0%) $253,462 (5.8%) 0.64 161
2021-01-01 $226,900 (8.2%) $253,296 (6.7%) 0.68 131
2021-02-01 $224,900 (5.0%) $256,407 (6.2%) 0.65 121
2021-03-01 $227,900 (4.8%) $269,093 (10.0%) 0.65 95
2021-04-01 $240,700 (10.1%) $290,305 (21.3%) 0.65 105
2021-05-01 $227,000 (1.4%) $278,435 (12.1%) 0.60 126
2021-06-01 $223,375 (1.7%) $272,101 (5.8%) 0.59 143
2021-07-01 $229,450 (-0.3%) $269,513 (1.0%) 0.60 183
2021-08-01 $226,225 (-9.2%) $264,591 (-4.5%) 0.60 203
2021-09-01 $232,400 (4.3%) $267,592 (-2.2%) 0.62 229
2021-10-01 $235,000 (9.3%) $271,455 (0.2%) 0.63 233
2021-11-01 $244,900 (15.0%) $274,692 (6.3%) 0.65 204
2021-12-01 $231,950 (8.2%) $277,645 (9.5%) 0.63 186
2022-01-01 $249,900 (10.1%) $294,147 (16.1%) 0.68 146
2022-02-01 $274,925 (22.2%) $319,944 (24.8%) 0.72 123
2022-03-01 $274,900 (20.6%) $330,567 (22.8%) 0.69 127
2022-04-01 $289,900 (20.4%) $324,878 (11.9%) 0.69 154
2022-05-01 $289,900 (27.7%) $314,983 (13.1%) 0.66 175
2022-06-01 $294,975 (32.1%) $326,006 (19.8%) 0.66 185
2022-07-01 $290,000 (26.4%) $322,771 (19.8%) 0.66 220
2022-08-01 $296,450 (31.0%) $332,292 (25.6%) 0.68 229
2022-09-01 $298,900 (28.6%) $340,816 (27.4%) 0.70 232
2022-10-01 $303,631 (29.2%) $342,971 (26.4%) 0.71 245
2022-11-01 $298,125 (21.7%) $338,654 (23.3%) 0.72 249
2022-12-01 $289,900 (25.0%) $330,876 (19.2%) 0.72 210
Janesville's median listing price for 2022-12-01 was $289,900, a difference of $57,950 (25.0%) versus the prior year and $-8,225 versus the prior month.

Janesville's median listing price comes in at 72% of the national average.

Janesville's average listing price for 2022-12-01 was $330,876, a difference of $53,231 (19.2%) versus the prior year and $-7,778 versus the prior month.

For the 2022-12-01 period, Janesville had 210 MLS listings, a difference of -39 listings (-16%) versus the prior month and 24 listings (13%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Janesville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 80 days 1,650 sqft
2018-02-01 85 days 1,634 sqft
2018-03-01 59 days 1,676 sqft
2018-04-01 41 days 1,741 sqft
2018-05-01 38 days 1,750 sqft
2018-06-01 41 days 1,794 sqft
2018-07-01 39 days 1,798 sqft
2018-08-01 38 days 1,772 sqft
2018-09-01 43 days 1,764 sqft
2018-10-01 50 days 1,725 sqft
2018-11-01 54 days 1,729 sqft
2018-12-01 69 days 1,654 sqft
2019-01-01 80 days 1,691 sqft
2019-02-01 89 days 1,734 sqft
2019-03-01 77 days 1,780 sqft
2019-04-01 54 days 1,802 sqft
2019-05-01 48 days 1,838 sqft
2019-06-01 47 days 1,829 sqft
2019-07-01 45 days 1,861 sqft
2019-08-01 47 days 1,869 sqft
2019-09-01 51 days 1,863 sqft
2019-10-01 54 days 1,857 sqft
2019-11-01 67 days 1,803 sqft
2019-12-01 73 days 1,770 sqft
2020-01-01 77 days 1,735 sqft
2020-02-01 78 days 1,717 sqft
2020-03-01 66 days 1,735 sqft
2020-04-01 53 days 1,752 sqft
2020-05-01 58 days 1,777 sqft
2020-06-01 72 days 1,790 sqft
2020-07-01 62 days 1,795 sqft
2020-08-01 49 days 1,850 sqft
2020-09-01 50 days 1,832 sqft
2020-10-01 41 days 1,780 sqft
2020-11-01 46 days 1,724 sqft
2020-12-01 52 days 1,686 sqft
2021-01-01 56 days 1,670 sqft
2021-02-01 43 days 1,627 sqft
2021-03-01 40 days 1,698 sqft
2021-04-01 28 days 1,729 sqft
2021-05-01 31 days 1,750 sqft
2021-06-01 32 days 1,690 sqft
2021-07-01 35 days 1,670 sqft
2021-08-01 31 days 1,690 sqft
2021-09-01 31 days 1,660 sqft
2021-10-01 37 days 1,613 sqft
2021-11-01 46 days 1,630 sqft
2021-12-01 53 days 1,603 sqft
2022-01-01 60 days 1,635 sqft
2022-02-01 59 days 1,777 sqft
2022-03-01 25 days 1,774 sqft
2022-04-01 31 days 1,784 sqft
2022-05-01 37 days 1,750 sqft
2022-06-01 39 days 1,758 sqft
2022-07-01 36 days 1,755 sqft
2022-08-01 46 days 1,774 sqft
2022-09-01 50 days 1,784 sqft
2022-10-01 48 days 1,784 sqft
2022-11-01 48 days 1,799 sqft
2022-12-01 65 days 1,809 sqft
Janesville's median listing age (time on market) for 2022-12-01 was 65 days. This is 22% longer than the same period one year ago.

Janesville's median square footage for active listings during the 2022-12-01 period was 1,809 sqft. One year prior, the average listing was 1,603 sqft.