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 9 lenders originated 12 USDA loans during 2022. The total origination value was $2,580,000, with an average USDA loan value of $215,000.

Janesville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Janesville averaged -0.29% for the week of 2023-06-02, compared to the national average (all USDA variants) of 0% for the same period.

Janesville's average USDA mortgage closing costs are $4,617.

The average rate for the prior week (2023-05-26) was 6.35% and one month ago for the week of 2023-04-28, the average rate was 6.03%.

The average rate one year ago was 4.69%.

For refis of the same type during the week of 2023-06-02, the average rate was -1.35%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
PLANET HOME LENDING, LLC 2 5.69% $6,617
Lend Smart Mortgage, LLC 2 5.00% $4,432
U.S. Bank 2 4.75% $5,533
Flagstar Bank, FSB 1 3.25% $4,417
Barrington Bank & Trust Company, N.A. 1 3.38% $4,466
UNITED WHOLESALE MORTGAGE, LLC 1 5.00% $6,333
INLANTA MORTGAGE, INC. 1 5.38% $6,642
Bell Bank 1 6.25% $6,321
FINANCE OF AMERICA MORTGAGE LLC 1 3.88% $3,660

The top Janesville USDA lender as defined by loan originations is PLANET HOME LENDING, LLC, with 2 USDA loans originated. Their average total fees are $6,617, which is $2,185 higher than the next largest lender, Lend Smart Mortgage, 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 $166,700 (19.2%) $211,242 (14.1%) 0.62 307
2018-02-01 $160,950 (12.7%) $211,298 (11.9%) 0.58 279
2018-03-01 $182,000 (17.5%) $228,367 (15.1%) 0.64 232
2018-04-01 $187,200 (11.1%) $230,697 (7.5%) 0.63 243
2018-05-01 $185,725 (8.0%) $230,335 (5.6%) 0.62 246
2018-06-01 $200,000 (18.1%) $240,544 (9.7%) 0.67 278
2018-07-01 $206,820 (18.3%) $243,855 (8.2%) 0.69 316
2018-08-01 $209,900 (19.7%) $244,659 (8.9%) 0.70 404
2018-09-01 $194,900 (11.4%) $235,537 (6.6%) 0.66 434
2018-10-01 $192,475 (10.1%) $234,271 (5.6%) 0.65 440
2018-11-01 $194,950 (10.2%) $242,010 (12.6%) 0.66 410
2018-12-01 $184,950 (8.8%) $230,725 (7.6%) 0.64 378
2019-01-01 $188,400 (13.0%) $237,935 (12.6%) 0.65 337
2019-02-01 $189,950 (18.0%) $239,384 (13.3%) 0.64 288
2019-03-01 $211,976 (16.5%) $249,065 (9.1%) 0.69 284
2019-04-01 $219,476 (17.2%) $248,818 (7.9%) 0.70 300
2019-05-01 $224,950 (21.1%) $256,006 (11.1%) 0.70 327
2019-06-01 $225,000 (12.5%) $259,377 (7.8%) 0.70 313
2019-07-01 $227,425 (10.0%) $258,880 (6.2%) 0.71 336
2019-08-01 $227,173 (8.2%) $258,660 (5.7%) 0.72 361
2019-09-01 $223,082 (14.5%) $256,402 (8.9%) 0.71 385
2019-10-01 $218,900 (13.7%) $253,286 (8.1%) 0.71 400
2019-11-01 $214,900 (10.2%) $245,742 (1.5%) 0.70 358
2019-12-01 $214,900 (16.2%) $239,766 (3.9%) 0.72 335
2020-01-01 $210,175 (11.6%) $237,395 (-0.2%) 0.70 312
2020-02-01 $214,100 (12.7%) $241,836 (1.0%) 0.70 253
2020-03-01 $214,950 (1.4%) $247,097 (-0.8%) 0.67 249
2020-04-01 $218,900 (-0.3%) $239,060 (-3.9%) 0.69 267
2020-05-01 $221,450 (-1.6%) $247,752 (-3.2%) 0.67 241
2020-06-01 $219,650 (-2.4%) $256,738 (-1.0%) 0.65 214
2020-07-01 $229,900 (1.1%) $266,507 (3.0%) 0.67 200
2020-08-01 $249,000 (9.6%) $277,667 (7.4%) 0.71 219
2020-09-01 $219,825 (-1.5%) $271,170 (5.8%) 0.63 206
2020-10-01 $219,900 (0.5%) $271,129 (7.0%) 0.63 208
2020-11-01 $212,450 (-1.1%) $257,217 (4.7%) 0.62 209
2020-12-01 $209,950 (-2.3%) $252,631 (5.4%) 0.62 165
2021-01-01 $225,950 (7.5%) $253,471 (6.8%) 0.67 136
2021-02-01 $224,900 (5.0%) $257,910 (6.7%) 0.65 126
2021-03-01 $228,950 (6.5%) $269,413 (9.0%) 0.65 102
2021-04-01 $247,900 (13.3%) $291,762 (22.1%) 0.67 112
2021-05-01 $229,000 (3.4%) $277,369 (12.0%) 0.61 139
2021-06-01 $227,450 (3.6%) $274,625 (7.0%) 0.60 158
2021-07-01 $229,900 (0.0%) $271,777 (2.0%) 0.61 192
2021-08-01 $229,950 (-7.7%) $265,220 (-4.5%) 0.61 217
2021-09-01 $236,175 (7.4%) $268,981 (-0.8%) 0.63 242
2021-10-01 $239,900 (9.1%) $273,005 (0.7%) 0.64 240
2021-11-01 $236,925 (11.5%) $274,801 (6.8%) 0.63 208
2021-12-01 $229,075 (9.1%) $276,391 (9.4%) 0.62 191
2022-01-01 $249,900 (10.6%) $293,330 (15.7%) 0.68 152
2022-02-01 $271,200 (20.6%) $318,967 (23.7%) 0.71 128
2022-03-01 $274,450 (19.9%) $327,573 (21.6%) 0.69 134
2022-04-01 $289,900 (16.9%) $323,972 (11.0%) 0.69 162
2022-05-01 $289,900 (26.6%) $312,685 (12.7%) 0.66 183
2022-06-01 $293,675 (29.1%) $323,993 (18.0%) 0.65 196
2022-07-01 $289,950 (26.1%) $323,031 (18.9%) 0.65 232
2022-08-01 $293,725 (27.7%) $332,440 (25.3%) 0.68 238
2022-09-01 $298,175 (26.3%) $341,159 (26.8%) 0.70 236
2022-10-01 $303,266 (26.4%) $340,815 (24.8%) 0.71 252
2022-11-01 $298,125 (25.8%) $338,969 (23.4%) 0.72 252
2022-12-01 $299,900 (30.9%) $347,040 (25.6%) 0.74 197
2023-01-01 $301,250 (20.6%) $353,176 (20.4%) 0.75 163
2023-02-01 $312,059 (15.1%) $356,737 (11.8%) 0.75 130
2023-03-01 $330,750 (20.5%) $365,893 (11.7%) 0.78 132
2023-04-01 $338,442 (16.7%) $365,765 (12.9%) 0.79 132
2023-05-01 $328,014 (13.2%) $361,884 (15.7%) 0.74 154
Janesville's median listing price for 2023-05-01 was $328,014, a difference of $38,114 (13.2%) versus the prior year and $-10,428 versus the prior month.

Janesville's median listing price comes in at 74% of the national average.

Janesville's average listing price for 2023-05-01 was $361,884, a difference of $49,199 (15.7%) versus the prior year and $-3,881 versus the prior month.

For the 2023-05-01 period, Janesville had 154 MLS listings, a difference of 22 listings (17%) versus the prior month and -29 listings (-16%) 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 79 days 1,651 sqft
2018-02-01 81 days 1,634 sqft
2018-03-01 58 days 1,675 sqft
2018-04-01 40 days 1,731 sqft
2018-05-01 38 days 1,745 sqft
2018-06-01 40 days 1,787 sqft
2018-07-01 38 days 1,793 sqft
2018-08-01 38 days 1,771 sqft
2018-09-01 43 days 1,755 sqft
2018-10-01 48 days 1,724 sqft
2018-11-01 54 days 1,729 sqft
2018-12-01 68 days 1,653 sqft
2019-01-01 78 days 1,690 sqft
2019-02-01 88 days 1,728 sqft
2019-03-01 77 days 1,780 sqft
2019-04-01 54 days 1,802 sqft
2019-05-01 46 days 1,834 sqft
2019-06-01 47 days 1,831 sqft
2019-07-01 44 days 1,855 sqft
2019-08-01 46 days 1,867 sqft
2019-09-01 49 days 1,862 sqft
2019-10-01 52 days 1,854 sqft
2019-11-01 64 days 1,803 sqft
2019-12-01 70 days 1,768 sqft
2020-01-01 74 days 1,735 sqft
2020-02-01 74 days 1,718 sqft
2020-03-01 60 days 1,737 sqft
2020-04-01 48 days 1,750 sqft
2020-05-01 54 days 1,777 sqft
2020-06-01 63 days 1,791 sqft
2020-07-01 56 days 1,784 sqft
2020-08-01 46 days 1,850 sqft
2020-09-01 47 days 1,807 sqft
2020-10-01 40 days 1,784 sqft
2020-11-01 44 days 1,731 sqft
2020-12-01 51 days 1,686 sqft
2021-01-01 54 days 1,683 sqft
2021-02-01 40 days 1,635 sqft
2021-03-01 39 days 1,702 sqft
2021-04-01 28 days 1,757 sqft
2021-05-01 29 days 1,755 sqft
2021-06-01 33 days 1,697 sqft
2021-07-01 34 days 1,704 sqft
2021-08-01 30 days 1,699 sqft
2021-09-01 31 days 1,675 sqft
2021-10-01 37 days 1,632 sqft
2021-11-01 45 days 1,633 sqft
2021-12-01 53 days 1,606 sqft
2022-01-01 58 days 1,680 sqft
2022-02-01 57 days 1,777 sqft
2022-03-01 24 days 1,772 sqft
2022-04-01 31 days 1,784 sqft
2022-05-01 36 days 1,729 sqft
2022-06-01 38 days 1,755 sqft
2022-07-01 34 days 1,772 sqft
2022-08-01 44 days 1,784 sqft
2022-09-01 49 days 1,784 sqft
2022-10-01 46 days 1,784 sqft
2022-11-01 47 days 1,800 sqft
2022-12-01 55 days 1,825 sqft
2023-01-01 71 days 1,813 sqft
2023-02-01 53 days 1,836 sqft
2023-03-01 37 days 1,844 sqft
2023-04-01 39 days 1,810 sqft
2023-05-01 32 days 1,811 sqft
Janesville's median listing age (time on market) for 2023-05-01 was 32 days. This is -11% shorter than the same period one year ago.

Janesville's median square footage for active listings during the 2023-05-01 period was 1,811 sqft. One year prior, the average listing was 1,729 sqft.