Joplin USDA Loan Rates, Closing Costs & Stats

JOPLIN, MO

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.

Joplin's 25 lenders originated 284 USDA loans during 2021. The total origination value was $39,410,000, with an average USDA loan value of $138,768.

Joplin USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Joplin averaged 6.38% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

Joplin's average USDA mortgage closing costs are $3,662.

The average rate for the prior week (2023-01-20) was 6.27% and one month ago for the week of 2022-12-23, the average rate was 6.3%.

The average rate one year ago was 3.65%.

For refis of the same type during the week of 2023-01-27, the average rate was 6.17%.

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

Joplin 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 Joplin level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
FLAT BRANCH MORTGAGE, INC. 174 3.25% $3,854
DAS Acquisition Company, LLC 21 3.35% $4,361
FirstTrust Home Loans, Inc. 12 3.08% $5,098
Arvest Bank 11 2.80% $3,885
Guaranty Bank 10 2.64% $3,937
Gateway First Bank 7 2.79% $2,314
Southwest Missouri Bank 6 3.00% $2,813
First Community Bank 5 2.68% $5,129
TOWNE MORTGAGE COMPANY 4 3.44% $5,000
First Guaranty Mortgage Corporation 4 2.88% $4,797
GERSHMAN INVESTMENT CORP. 3 3.13% $3,818
MID AMERICA MORTGAGE, INC. 3 3.50% $2,493
BROKER SOLUTIONS, INC. 2 3.86% $3,807
Flanagan State Bank 2 3.25% $5,111
Great Southern Bank 2 2.50% $3,949
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 3.44% $4,780
U.S. Bank 1 2.75% $5,460
CHURCHILL MORTGAGE CORPORATION 1 2.88% $5,617
Midwest Mortgage Associates Corporation 1 2.75% $5,616
PENNYMAC LOAN SERVICES, LLC 1 3.00% $3,119
PLANET HOME LENDING, LLC 1 2.25% $2,007
Simmons Bank 1 3.38% $3,767
Flagstar Bank, FSB 1 2.88% $5,086
Commerce Bank 1 2.63% $3,658
CALIBER HOME LOANS, INC. 1 3.75% $4,739

The top Joplin USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 174 USDA loans originated. Their average total fees are $3,854, which is $507 lower than the next largest lender, DAS Acquisition Company, LLC.

The lowest fee Joplin USDA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. ($3,854), Arvest Bank ($3,885), Guaranty Bank ($3,937), DAS Acquisition Company, LLC ($4,361) and FirstTrust Home Loans, Inc. ($5,098).

The lowest rate Joplin USDA lenders (with over 10 loans originated) are Guaranty Bank (2.64%), Arvest Bank (2.80%), FirstTrust Home Loans, Inc. (3.08%), FLAT BRANCH MORTGAGE, INC. (3.25%) and DAS Acquisition Company, LLC (3.35%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Joplin (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 $135,000 (13.0%) $182,072 (6.3%) 0.50 708
2018-02-01 $138,926 (14.1%) $183,745 (5.1%) 0.50 690
2018-03-01 $140,000 (14.6%) $186,937 (5.1%) 0.49 715
2018-04-01 $149,800 (19.0%) $190,177 (3.5%) 0.51 730
2018-05-01 $149,900 (14.3%) $188,465 (-1.5%) 0.50 710
2018-06-01 $149,900 (14.1%) $193,934 (1.1%) 0.50 736
2018-07-01 $149,900 (9.3%) $191,596 (0.0%) 0.50 749
2018-08-01 $149,900 (10.7%) $185,822 (-1.6%) 0.50 904
2018-09-01 $149,873 (8.7%) $185,615 (-0.7%) 0.50 937
2018-10-01 $153,475 (13.7%) $191,085 (2.0%) 0.52 882
2018-11-01 $149,873 (11.0%) $187,404 (-0.2%) 0.51 905
2018-12-01 $149,873 (11.1%) $186,807 (2.6%) 0.52 846
2019-01-01 $146,134 (8.3%) $184,100 (1.1%) 0.50 763
2019-02-01 $151,250 (8.9%) $188,481 (2.6%) 0.51 712
2019-03-01 $154,929 (10.7%) $191,612 (2.5%) 0.51 678
2019-04-01 $155,704 (3.9%) $194,827 (2.4%) 0.49 650
2019-05-01 $157,824 (5.3%) $197,086 (4.6%) 0.49 637
2019-06-01 $151,500 (1.1%) $197,757 (2.0%) 0.47 643
2019-07-01 $157,250 (4.9%) $195,682 (2.1%) 0.49 681
2019-08-01 $156,782 (4.6%) $194,299 (4.6%) 0.50 673
2019-09-01 $155,555 (3.8%) $193,777 (4.4%) 0.50 654
2019-10-01 $156,936 (2.3%) $194,488 (1.8%) 0.51 644
2019-11-01 $154,600 (3.2%) $193,828 (3.4%) 0.51 649
2019-12-01 $154,900 (3.4%) $196,329 (5.1%) 0.52 631
2020-01-01 $157,125 (7.5%) $196,667 (6.8%) 0.53 577
2020-02-01 $154,900 (2.4%) $198,398 (5.3%) 0.51 534
2020-03-01 $159,617 (3.0%) $201,417 (5.1%) 0.50 510
2020-04-01 $150,498 (-3.3%) $202,260 (3.8%) 0.47 539
2020-05-01 $159,900 (1.3%) $210,742 (6.9%) 0.49 487
2020-06-01 $165,000 (8.9%) $216,790 (9.6%) 0.49 462
2020-07-01 $165,423 (5.2%) $225,267 (15.1%) 0.48 433
2020-08-01 $179,103 (14.2%) $241,008 (24.0%) 0.51 368
2020-09-01 $182,312 (17.2%) $249,850 (28.9%) 0.52 364
2020-10-01 $169,900 (8.3%) $232,600 (19.6%) 0.49 381
2020-11-01 $159,900 (3.4%) $235,570 (21.5%) 0.47 382
2020-12-01 $158,575 (2.4%) $238,152 (21.3%) 0.47 371
2021-01-01 $160,500 (2.2%) $251,818 (28.0%) 0.48 323
2021-02-01 $171,500 (10.7%) $277,021 (39.6%) 0.50 271
2021-03-01 $194,950 (22.1%) $278,522 (38.3%) 0.55 272
2021-04-01 $194,700 (29.4%) $272,869 (34.9%) 0.53 270
2021-05-01 $172,400 (7.8%) $282,986 (34.3%) 0.46 235
2021-06-01 $178,750 (8.3%) $290,089 (33.8%) 0.47 256
2021-07-01 $179,900 (8.8%) $264,030 (17.2%) 0.47 303
2021-08-01 $192,100 (7.3%) $269,153 (11.7%) 0.51 327
2021-09-01 $200,957 (10.2%) $256,520 (2.7%) 0.54 371
2021-10-01 $205,800 (21.1%) $256,956 (10.5%) 0.55 381
2021-11-01 $211,250 (32.1%) $269,071 (14.2%) 0.56 351
2021-12-01 $216,500 (36.5%) $287,628 (20.8%) 0.59 291
2022-01-01 $219,925 (37.0%) $290,379 (15.3%) 0.59 233
2022-02-01 $228,675 (33.3%) $289,206 (4.4%) 0.59 199
2022-03-01 $232,500 (19.3%) $301,498 (8.3%) 0.58 190
2022-04-01 $224,900 (15.5%) $290,608 (6.5%) 0.54 242
2022-05-01 $221,950 (28.7%) $297,854 (5.3%) 0.51 258
2022-06-01 $207,500 (16.1%) $281,740 (-2.9%) 0.46 333
2022-07-01 $199,950 (11.2%) $271,378 (2.8%) 0.45 405
2022-08-01 $207,450 (8.0%) $267,440 (-0.6%) 0.48 405
2022-09-01 $229,225 (14.1%) $272,140 (6.1%) 0.54 414
2022-10-01 $222,000 (7.9%) $291,001 (13.3%) 0.52 428
2022-11-01 $224,768 (6.4%) $292,594 (8.7%) 0.54 466
2022-12-01 $209,000 (-3.5%) $274,706 (-4.5%) 0.52 461
Joplin's median listing price for 2022-12-01 was $209,000, a difference of $-7,500 (-3.5%) versus the prior year and $-15,768 versus the prior month.

Joplin's median listing price comes in at 52% of the national average.

Joplin's average listing price for 2022-12-01 was $274,706, a difference of $-12,922 (-4.5%) versus the prior year and $-17,888 versus the prior month.

For the 2022-12-01 period, Joplin had 461 MLS listings, a difference of -5 listings (-1%) versus the prior month and 170 listings (58%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Joplin (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 79 days 1,787 sqft
2018-02-01 79 days 1,771 sqft
2018-03-01 58 days 1,785 sqft
2018-04-01 57 days 1,824 sqft
2018-05-01 59 days 1,843 sqft
2018-06-01 58 days 1,860 sqft
2018-07-01 63 days 1,878 sqft
2018-08-01 58 days 1,827 sqft
2018-09-01 58 days 1,804 sqft
2018-10-01 69 days 1,859 sqft
2018-11-01 71 days 1,850 sqft
2018-12-01 72 days 1,822 sqft
2019-01-01 76 days 1,796 sqft
2019-02-01 87 days 1,811 sqft
2019-03-01 74 days 1,797 sqft
2019-04-01 56 days 1,785 sqft
2019-05-01 52 days 1,836 sqft
2019-06-01 54 days 1,812 sqft
2019-07-01 57 days 1,833 sqft
2019-08-01 57 days 1,832 sqft
2019-09-01 61 days 1,814 sqft
2019-10-01 61 days 1,809 sqft
2019-11-01 59 days 1,809 sqft
2019-12-01 75 days 1,812 sqft
2020-01-01 78 days 1,824 sqft
2020-02-01 74 days 1,819 sqft
2020-03-01 59 days 1,807 sqft
2020-04-01 50 days 1,789 sqft
2020-05-01 53 days 1,800 sqft
2020-06-01 59 days 1,865 sqft
2020-07-01 46 days 1,854 sqft
2020-08-01 40 days 1,934 sqft
2020-09-01 45 days 1,995 sqft
2020-10-01 33 days 1,874 sqft
2020-11-01 45 days 1,837 sqft
2020-12-01 53 days 1,839 sqft
2021-01-01 58 days 1,921 sqft
2021-02-01 64 days 1,964 sqft
2021-03-01 47 days 1,982 sqft
2021-04-01 37 days 1,889 sqft
2021-05-01 29 days 1,904 sqft
2021-06-01 28 days 1,890 sqft
2021-07-01 29 days 1,786 sqft
2021-08-01 31 days 1,840 sqft
2021-09-01 30 days 1,806 sqft
2021-10-01 45 days 1,885 sqft
2021-11-01 47 days 1,868 sqft
2021-12-01 52 days 1,846 sqft
2022-01-01 54 days 1,950 sqft
2022-02-01 30 days 1,948 sqft
2022-03-01 21 days 1,807 sqft
2022-04-01 21 days 1,750 sqft
2022-05-01 31 days 1,750 sqft
2022-06-01 27 days 1,741 sqft
2022-07-01 32 days 1,741 sqft
2022-08-01 39 days 1,698 sqft
2022-09-01 45 days 1,751 sqft
2022-10-01 45 days 1,760 sqft
2022-11-01 43 days 1,750 sqft
2022-12-01 54 days 1,700 sqft
Joplin's median listing age (time on market) for 2022-12-01 was 54 days. This is 4% longer than the same period one year ago.

Joplin's median square footage for active listings during the 2022-12-01 period was 1,700 sqft. One year prior, the average listing was 1,846 sqft.