Joplin USDA Loan Rates, Closing Costs & Stats

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 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.