Lima USDA Loan Rates, Closing Costs & Stats

LIMA, OH

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 11 lenders originated 24 USDA loans during 2022. The total origination value was $3,880,000, with an average USDA loan value of $161,667.

Lima USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Lima averaged -0.42% for the week of 2024-02-23, compared to the national average (all USDA variants) of 0% for the same period.

Lima's average USDA mortgage closing costs are $4,707.

The average rate for the prior week (2024-02-16) was 6.46% and one month ago for the week of 2024-01-19, the average rate was 6.24%.

The average rate one year ago was 6.35%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.04%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
AMERIFIRST FINANCIAL CORPORATION 5 6.23% $6,643
CROSSCOUNTRY MORTGAGE, LLC 3 4.60% $5,596
Superior Credit Union, Inc. 3 4.92% $3,360
LOANDEPOT.COM, LLC 2 6.44% $5,229
CALIBER HOME LOANS, INC. 2 4.19% $4,974
PRIORITY MORTGAGE CORP. 1 4.13% $8,181
UNITED WHOLESALE MORTGAGE, LLC 1 4.88% $6,019
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.25% $7,931
First Federal Bank of the Midwest 1 4.13% $3,843
Flagstar Bank, FSB 1 5.50% $7,559
POLARIS HOME FUNDING CORP. 1 3.88% $9,450

The top Lima USDA lender as defined by loan originations is AMERIFIRST FINANCIAL CORPORATION, with 5 USDA loans originated. Their average total fees are $6,643, which is $1,048 higher 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
Lima's median listing price for 2023-12-01 was $150,000, a difference of $-21,950 (-12.8%) versus the prior year and $-14,350 versus the prior month.

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

Lima's average listing price for 2023-12-01 was $190,034, a difference of $-23,289 (-10.9%) versus the prior year and $-11,056 versus the prior month.

For the 2023-12-01 period, Lima had 178 MLS listings, a difference of 16 listings (10%) versus the prior month and 25 listings (16%) 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
Lima's median listing age (time on market) for 2023-12-01 was 0 days.

Lima's median square footage for active listings during the 2023-12-01 period was 1,474 sqft. One year prior, the average listing was 1,574 sqft.