Lima USDA Loan Rates, Closing Costs & Stats

LIMA, OH

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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.

    Lima's 4 lenders originated 8 USDA loans during 2023. The total origination value was $960,000, with an average USDA loan value of $120,000.

    Lima USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Lima averaged 6.95% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Lima's average USDA mortgage closing costs are $4,756.

    The average rate for the prior week (2024-04-12) was 7% and one month ago for the week of 2024-03-15, the average rate was 6.69%.

    The average rate one year ago was 6.53%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

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

    Lima 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 Lima level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    U.S. Bank 3 7.17% $4,607
    CROSSCOUNTRY MORTGAGE, LLC 2 6.69% $6,840
    GENEVA FINANCIAL, LLC 1 7.75% $7,628
    POLARIS HOME FUNDING CORP. 1 6.75% $5,697

    The top Lima USDA lender as defined by loan originations is U.S. Bank, with 3 USDA loans originated. Their average total fees are $4,607, which is $2,233 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Lima USDA lenders (with over 10 loans originated) are .

    The lowest rate Lima USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lima (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 $97,000 (7.9%) $157,175 (4.7%) 0.00 331
    2018-02-01 $99,900 (2.5%) $157,090 (-1.7%) 0.00 327
    2018-03-01 $119,500 (19.6%) $173,077 (8.9%) 0.00 316
    2018-04-01 $124,550 (31.2%) $187,163 (18.7%) 0.00 299
    2018-05-01 $128,950 (41.4%) $191,915 (24.6%) 0.00 308
    2018-06-01 $125,000 (39.0%) $189,133 (26.9%) 0.00 314
    2018-07-01 $124,675 (27.9%) $183,099 (21.5%) 0.00 355
    2018-08-01 $124,900 (25.2%) $176,205 (14.8%) 0.00 378
    2018-09-01 $128,900 (14.6%) $177,705 (13.4%) 0.00 360
    2018-10-01 $126,700 (18.3%) $176,439 (15.9%) 0.00 354
    2018-11-01 $123,650 (18.9%) $169,372 (8.5%) 0.00 335
    2018-12-01 $119,000 (25.3%) $166,435 (8.3%) 0.00 313
    2019-01-01 $124,900 (28.8%) $164,715 (4.8%) 0.00 277
    2019-02-01 $127,400 (27.5%) $161,263 (2.7%) 0.00 257
    2019-03-01 $133,157 (11.4%) $168,423 (-2.7%) 0.00 248
    2019-04-01 $139,225 (11.8%) $169,755 (-9.3%) 0.00 247
    2019-05-01 $149,900 (16.3%) $179,625 (-6.4%) 0.00 256
    2019-06-01 $139,986 (12.0%) $174,244 (-7.9%) 0.00 292
    2019-07-01 $139,675 (12.0%) $181,927 (-0.6%) 0.00 280
    2019-08-01 $137,224 (9.9%) $183,202 (4.0%) 0.00 288
    2019-09-01 $133,104 (3.3%) $178,451 (0.4%) 0.00 299
    2019-10-01 $129,925 (2.6%) $174,147 (-1.3%) 0.00 306
    2019-11-01 $134,500 (8.8%) $176,032 (3.9%) 0.00 293
    2019-12-01 $127,450 (7.1%) $189,462 (13.8%) 0.00 173
    2020-01-01 $119,750 (-4.1%) $177,177 (7.6%) 0.00 164
    2020-02-01 $128,500 (0.9%) $169,234 (4.9%) 0.00 228
    2020-03-01 $133,950 (0.6%) $175,942 (4.5%) 0.00 239
    2020-04-01 $137,950 (-0.9%) $181,831 (7.1%) 0.00 231
    2020-05-01 $153,900 (2.7%) $187,960 (4.6%) 0.00 205
    2020-06-01 $142,250 (1.6%) $186,681 (7.1%) 0.00 199
    2020-07-01 $155,150 (11.1%) $198,465 (9.1%) 0.00 195
    2020-08-01 $159,900 (16.5%) $209,822 (14.5%) 0.00 185
    2020-09-01 $169,150 (27.1%) $217,485 (21.9%) 0.00 186
    2020-10-01 $169,700 (30.6%) $212,743 (22.2%) 0.00 189
    2020-11-01 $158,250 (17.7%) $208,405 (18.4%) 0.00 171
    2020-12-01 $159,000 (24.8%) $211,698 (11.7%) 0.00 160
    2021-01-01 $152,500 (27.4%) $216,284 (22.1%) 0.00 134
    2021-02-01 $157,475 (22.6%) $219,350 (29.6%) 0.00 112
    2021-03-01 $139,450 (4.1%) $212,562 (20.8%) 0.00 112
    2021-04-01 $122,400 (-11.3%) $204,050 (12.2%) 0.00 101
    2021-05-01 $122,450 (-20.4%) $203,309 (8.2%) 0.00 101
    2021-06-01 $119,900 (-15.7%) $195,372 (4.7%) 0.00 113
    2021-07-01 $59,900 (-61.4%) $135,253 (-31.9%) 0.00 220
    2021-08-01 $72,975 (-54.4%) $149,467 (-28.8%) 0.00 231
    2021-09-01 $81,500 (-51.8%) $160,363 (-26.3%) 0.00 217
    2021-10-01 $90,000 (-47.0%) $164,731 (-22.6%) 0.00 219
    2021-11-01 $86,975 (-45.0%) $166,510 (-20.1%) 0.00 206
    2021-12-01 $89,900 (-43.5%) $168,049 (-20.6%) 0.00 192
    2022-01-01 $146,950 (-3.6%) $222,639 (2.9%) 0.00 107
    2022-02-01 $174,300 (10.7%) $244,192 (11.3%) 0.00 90
    2022-03-01 $196,750 (41.1%) $260,114 (22.4%) 0.00 81
    2022-04-01 $149,700 (22.3%) $236,571 (15.9%) 0.00 79
    2022-05-01 $174,000 (42.1%) $244,212 (20.1%) 0.00 89
    2022-06-01 $190,425 (58.8%) $235,501 (20.5%) 0.00 127
    2022-07-01 $205,000 (242.2%) $246,632 (82.4%) 0.00 138
    2022-08-01 $214,175 (193.5%) $250,046 (67.3%) 0.00 150
    2022-09-01 $194,925 (139.2%) $233,467 (45.6%) 0.00 155
    2022-10-01 $199,950 (122.2%) $229,544 (39.3%) 0.00 166
    2022-11-01 $182,425 (109.7%) $212,169 (27.4%) 0.00 160
    2022-12-01 $171,950 (91.3%) $213,323 (26.9%) 0.00 153
    2023-01-01 $166,538 (13.3%) $210,447 (-5.5%) 0.00 133
    2023-02-01 $176,250 (1.1%) $223,128 (-8.6%) 0.00 103
    2023-03-01 $181,225 (-7.9%) $229,529 (-11.8%) 0.00 96
    2023-04-01 $215,000 (43.6%) $249,026 (5.3%) 0.00 101
    2023-05-01 $227,475 (30.7%) $250,051 (2.4%) 0.00 110
    2023-06-01 $239,900 (26.0%) $262,076 (11.3%) 0.00 107
    2023-07-01 $231,200 (12.8%) $251,745 (2.1%) 0.00 110
    2023-08-01 $199,225 (-7.0%) $224,467 (-10.2%) 0.00 133
    2023-09-01 $199,950 (2.6%) $230,361 (-1.3%) 0.00 128
    2023-10-01 $189,475 (-5.2%) $219,897 (-4.2%) 0.00 144
    2023-11-01 $164,350 (-9.9%) $201,090 (-5.2%) 0.00 162
    2023-12-01 $150,000 (-12.8%) $190,034 (-10.9%) 0.00 178
    2024-01-01 $131,175 (-21.2%) $173,732 (-17.5%) 0.00 168
    2024-02-01 $131,150 (-25.6%) $178,541 (-20.0%) 0.00 144
    2024-03-01 $212,500 (17.3%) $251,900 (9.8%) 0.00 94
    Lima's median listing price for 2024-03-01 was $212,500, a difference of $31,275 (17.3%) versus the prior year and $81,350 versus the prior month.

    Lima's median listing price comes in at 0% of the national average.

    Lima's average listing price for 2024-03-01 was $251,900, a difference of $22,371 (9.8%) versus the prior year and $73,359 versus the prior month.

    For the 2024-03-01 period, Lima had 94 MLS listings, a difference of -50 listings (-35%) versus the prior month and -2 listings (-2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lima (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,523 sqft
    2018-02-01 0 days 1,514 sqft
    2018-03-01 0 days 1,632 sqft
    2018-04-01 0 days 1,630 sqft
    2018-05-01 0 days 1,643 sqft
    2018-06-01 0 days 1,640 sqft
    2018-07-01 0 days 1,637 sqft
    2018-08-01 0 days 1,628 sqft
    2018-09-01 0 days 1,635 sqft
    2018-10-01 0 days 1,639 sqft
    2018-11-01 0 days 1,638 sqft
    2018-12-01 0 days 1,591 sqft
    2019-01-01 0 days 1,615 sqft
    2019-02-01 0 days 1,574 sqft
    2019-03-01 0 days 1,585 sqft
    2019-04-01 0 days 1,617 sqft
    2019-05-01 0 days 1,634 sqft
    2019-06-01 0 days 1,623 sqft
    2019-07-01 0 days 1,588 sqft
    2019-08-01 0 days 1,646 sqft
    2019-09-01 0 days 1,642 sqft
    2019-10-01 0 days 1,639 sqft
    2019-11-01 0 days 1,644 sqft
    2019-12-01 0 days 1,727 sqft
    2020-01-01 0 days 1,619 sqft
    2020-02-01 0 days 1,572 sqft
    2020-03-01 0 days 1,597 sqft
    2020-04-01 0 days 1,600 sqft
    2020-05-01 0 days 1,598 sqft
    2020-06-01 0 days 1,536 sqft
    2020-07-01 0 days 1,549 sqft
    2020-08-01 0 days 1,639 sqft
    2020-09-01 0 days 1,715 sqft
    2020-10-01 0 days 1,676 sqft
    2020-11-01 0 days 1,565 sqft
    2020-12-01 0 days 1,593 sqft
    2021-01-01 0 days 1,529 sqft
    2021-02-01 0 days 1,565 sqft
    2021-03-01 0 days 1,510 sqft
    2021-04-01 0 days 1,448 sqft
    2021-05-01 0 days 1,446 sqft
    2021-06-01 0 days 1,408 sqft
    2021-07-01 0 days 1,381 sqft
    2021-08-01 0 days 1,396 sqft
    2021-09-01 0 days 1,415 sqft
    2021-10-01 0 days 1,404 sqft
    2021-11-01 0 days 1,379 sqft
    2021-12-01 0 days 1,373 sqft
    2022-01-01 0 days 1,529 sqft
    2022-02-01 0 days 1,648 sqft
    2022-03-01 0 days 1,697 sqft
    2022-04-01 0 days 1,472 sqft
    2022-05-01 0 days 1,668 sqft
    2022-06-01 0 days 1,547 sqft
    2022-07-01 0 days 1,600 sqft
    2022-08-01 0 days 1,659 sqft
    2022-09-01 0 days 1,587 sqft
    2022-10-01 0 days 1,625 sqft
    2022-11-01 0 days 1,581 sqft
    2022-12-01 0 days 1,574 sqft
    2023-01-01 0 days 1,574 sqft
    2023-02-01 0 days 1,588 sqft
    2023-03-01 0 days 1,638 sqft
    2023-04-01 0 days 1,744 sqft
    2023-05-01 0 days 1,758 sqft
    2023-06-01 0 days 1,738 sqft
    2023-07-01 0 days 1,720 sqft
    2023-08-01 0 days 1,589 sqft
    2023-09-01 0 days 1,632 sqft
    2023-10-01 0 days 1,631 sqft
    2023-11-01 0 days 1,514 sqft
    2023-12-01 0 days 1,474 sqft
    2024-01-01 0 days 1,455 sqft
    2024-02-01 0 days 1,468 sqft
    2024-03-01 0 days 1,690 sqft
    Lima's median listing age (time on market) for 2024-03-01 was 0 days.

    Lima's median square footage for active listings during the 2024-03-01 period was 1,690 sqft. One year prior, the average listing was 1,638 sqft.