Joplin USDA Loans

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 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.