Joplin USDA Loans

JOPLIN, MO

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    • 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 5.27% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

    The average rate for the prior week (2022-05-06) was 5.61% and one month ago for the week of 2022-04-08, the average rate was 4.87%.

    The average rate one year ago was 3.08%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.27%.

    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 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. Total Fees
    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 $139,849 (19.1%) $183,874 (5.0%) 0.52 1,158
    2018-02-01 $139,900 (13.1%) $183,824 (1.5%) 0.50 1,140
    2018-03-01 $142,500 (14.1%) $186,511 (2.1%) 0.49 1,167
    2018-04-01 $149,900 (17.2%) $190,398 (1.9%) 0.50 1,198
    2018-05-01 $153,000 (13.4%) $192,496 (-0.9%) 0.51 1,103
    2018-06-01 $153,000 (12.0%) $198,984 (1.2%) 0.51 1,074
    2018-07-01 $154,612 (7.0%) $196,083 (-1.6%) 0.52 1,004
    2018-08-01 $149,900 (7.2%) $189,037 (-3.3%) 0.50 1,168
    2018-09-01 $149,900 (7.2%) $188,960 (-2.2%) 0.50 1,182
    2018-10-01 $154,500 (10.4%) $194,596 (0.7%) 0.52 1,105
    2018-11-01 $149,948 (6.4%) $190,357 (-1.7%) 0.50 1,125
    2018-12-01 $149,900 (7.2%) $190,633 (2.9%) 0.51 1,070
    2019-01-01 $149,950 (7.2%) $188,336 (2.4%) 0.52 968
    2019-02-01 $158,374 (13.2%) $191,111 (4.0%) 0.53 923
    2019-03-01 $159,501 (11.9%) $193,756 (3.9%) 0.52 898
    2019-04-01 $159,503 (6.4%) $197,157 (3.6%) 0.50 881
    2019-05-01 $159,367 (4.2%) $200,600 (4.2%) 0.49 866
    2019-06-01 $154,900 (1.2%) $198,626 (-0.2%) 0.48 877
    2019-07-01 $159,250 (3.0%) $196,237 (0.1%) 0.49 939
    2019-08-01 $154,406 (3.0%) $193,532 (2.4%) 0.49 901
    2019-09-01 $149,975 (0.1%) $191,505 (1.4%) 0.48 850
    2019-10-01 $159,000 (2.9%) $193,190 (-0.7%) 0.51 899
    2019-11-01 $157,000 (4.7%) $193,803 (1.8%) 0.51 883
    2019-12-01 $158,250 (5.6%) $194,486 (2.0%) 0.53 847
    2020-01-01 $154,300 (2.9%) $193,888 (3.0%) 0.51 721
    2020-02-01 $149,900 (-5.4%) $196,161 (2.6%) 0.48 685
    2020-03-01 $159,862 (0.2%) $201,749 (4.1%) 0.50 652
    2020-04-01 $149,950 (-6.0%) $201,038 (2.0%) 0.47 698
    2020-05-01 $159,000 (-0.2%) $208,140 (3.8%) 0.48 626
    2020-06-01 $159,999 (3.3%) $211,340 (6.4%) 0.47 603
    2020-07-01 $162,450 (2.0%) $219,236 (11.7%) 0.47 554
    2020-08-01 $174,900 (13.3%) $235,801 (21.8%) 0.50 464
    2020-09-01 $182,400 (21.6%) $261,433 (36.5%) 0.52 456
    2020-10-01 $169,500 (6.6%) $238,602 (23.5%) 0.48 492
    2020-11-01 $159,900 (1.9%) $238,470 (23.1%) 0.46 488
    2020-12-01 $159,900 (1.0%) $250,491 (28.8%) 0.47 473
    2021-01-01 $168,950 (9.5%) $265,690 (37.0%) 0.50 415
    2021-02-01 $191,400 (27.7%) $299,037 (52.4%) 0.55 337
    2021-03-01 $197,700 (23.7%) $292,683 (45.1%) 0.55 336
    2021-04-01 $197,950 (32.0%) $286,602 (42.6%) 0.53 347
    2021-05-01 $184,900 (16.3%) $296,972 (42.7%) 0.49 310
    2021-06-01 $174,500 (9.1%) $296,381 (40.2%) 0.45 326
    2021-07-01 $175,000 (7.7%) $270,670 (23.5%) 0.45 378
    2021-08-01 $189,450 (8.3%) $276,515 (17.3%) 0.50 401
    2021-09-01 $193,250 (6.0%) $264,122 (1.0%) 0.51 427
    2021-10-01 $194,500 (14.8%) $262,986 (10.2%) 0.51 444
    2021-11-01 $205,902 (28.8%) $283,233 (18.8%) 0.54 429
    2021-12-01 $214,900 (34.4%) $313,138 (25.0%) 0.57 363
    2022-01-01 $217,500 (28.7%) $308,179 (16.0%) 0.58 279
    2022-02-01 $227,450 (18.8%) $315,560 (5.5%) 0.58 245
    2022-03-01 $249,900 (26.4%) $352,580 (20.5%) 0.62 232
    2022-04-01 $235,000 (18.7%) $338,177 (18.0%) 0.55 291
    Joplin's median listing price for 2022-04-01 was $235,000, a difference of $37,050 (18.7%) versus the prior year and $-14,900 versus the prior month.

    Joplin's median listing price comes in at 55% of the national average.

    Joplin's average listing price for 2022-04-01 was $338,177, a difference of $51,575 (18.0%) versus the prior year and $-14,403 versus the prior month.

    For the 2022-04-01 period, Joplin had 291 MLS listings, a difference of 59 listings (25%) versus the prior month and -56 listings (-16%) 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 76 days 1,780 sqft
    2018-02-01 77 days 1,763 sqft
    2018-03-01 57 days 1,763 sqft
    2018-04-01 56 days 1,807 sqft
    2018-05-01 60 days 1,845 sqft
    2018-06-01 66 days 1,892 sqft
    2018-07-01 67 days 1,900 sqft
    2018-08-01 59 days 1,843 sqft
    2018-09-01 61 days 1,820 sqft
    2018-10-01 70 days 1,870 sqft
    2018-11-01 71 days 1,864 sqft
    2018-12-01 68 days 1,860 sqft
    2019-01-01 75 days 1,826 sqft
    2019-02-01 80 days 1,849 sqft
    2019-03-01 62 days 1,813 sqft
    2019-04-01 55 days 1,791 sqft
    2019-05-01 52 days 1,849 sqft
    2019-06-01 53 days 1,813 sqft
    2019-07-01 53 days 1,824 sqft
    2019-08-01 63 days 1,820 sqft
    2019-09-01 65 days 1,809 sqft
    2019-10-01 56 days 1,793 sqft
    2019-11-01 56 days 1,800 sqft
    2019-12-01 72 days 1,797 sqft
    2020-01-01 72 days 1,811 sqft
    2020-02-01 67 days 1,804 sqft
    2020-03-01 58 days 1,824 sqft
    2020-04-01 50 days 1,800 sqft
    2020-05-01 56 days 1,800 sqft
    2020-06-01 58 days 1,876 sqft
    2020-07-01 45 days 1,877 sqft
    2020-08-01 43 days 1,950 sqft
    2020-09-01 47 days 2,008 sqft
    2020-10-01 35 days 1,868 sqft
    2020-11-01 44 days 1,806 sqft
    2020-12-01 57 days 1,869 sqft
    2021-01-01 65 days 1,950 sqft
    2021-02-01 69 days 2,013 sqft
    2021-03-01 49 days 1,987 sqft
    2021-04-01 38 days 1,932 sqft
    2021-05-01 32 days 1,900 sqft
    2021-06-01 31 days 1,900 sqft
    2021-07-01 28 days 1,804 sqft
    2021-08-01 30 days 1,826 sqft
    2021-09-01 35 days 1,778 sqft
    2021-10-01 42 days 1,792 sqft
    2021-11-01 44 days 1,850 sqft
    2021-12-01 50 days 1,841 sqft
    2022-01-01 57 days 1,950 sqft
    2022-02-01 35 days 1,999 sqft
    2022-03-01 25 days 1,872 sqft
    2022-04-01 21 days 1,830 sqft
    Joplin's median listing age (time on market) for 2022-04-01 was 21 days. This is -45% shorter than the same period one year ago.

    Joplin's median square footage for active listings during the 2022-04-01 period was 1,830 sqft. One year prior, the average listing was 1,932 sqft.