Macomb USDA Loan Rates, Closing Costs & Stats

Macomb, IL

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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.

    Macomb's 6 lenders originated 16 USDA loans during 2023. The total origination value was $1,410,000, with an average USDA loan value of $88,125.

    Macomb USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Macomb averaged 6.66% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Macomb's average USDA mortgage closing costs are $3,458.

    The average rate for the prior week (2024-04-12) was 6.51% 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.

    Macomb 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 Macomb level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Flanagan State Bank 6 7.06% $4,128
    United Community Bank 4 6.69% $2,748
    First Bankers Trust Company 3 6.58% $3,351
    CALIBER HOME LOANS, INC. 1 6.00% $4,117
    FIRST STATE MORTGAGE SERVICES, LLC 1 6.00% $4,906
    FLAT BRANCH MORTGAGE, INC. 1 7.00% $5,516

    The top Macomb USDA lender as defined by loan originations is Flanagan State Bank, with 6 USDA loans originated. Their average total fees are $4,128, which is $1,380 higher than the next largest lender, United Community Bank.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Macomb (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 $99,400 (10.6%) $124,219 (10.6%) 0.00 187
    2018-02-01 $95,050 (5.7%) $121,144 (7.2%) 0.00 192
    2018-03-01 $96,000 (6.0%) $121,702 (3.9%) 0.00 194
    2018-04-01 $98,350 (8.1%) $122,034 (4.6%) 0.00 205
    2018-05-01 $97,300 (4.9%) $119,007 (0.0%) 0.00 218
    2018-06-01 $94,900 (-2.5%) $115,526 (-4.2%) 0.00 222
    2018-07-01 $93,700 (-1.6%) $114,800 (-3.5%) 0.00 245
    2018-08-01 $92,250 (-4.2%) $114,551 (-6.3%) 0.00 246
    2018-09-01 $89,900 (-9.8%) $111,963 (-9.7%) 0.00 236
    2018-10-01 $89,900 (-10.1%) $112,011 (-10.7%) 0.00 229
    2018-11-01 $89,400 (-15.4%) $109,292 (-12.9%) 0.00 230
    2018-12-01 $85,500 (-14.4%) $104,984 (-15.2%) 0.00 228
    2019-01-01 $84,900 (-14.6%) $104,227 (-16.1%) 0.00 228
    2019-02-01 $84,900 (-10.7%) $104,728 (-13.6%) 0.00 222
    2019-03-01 $88,714 (-7.6%) $109,121 (-10.3%) 0.00 220
    2019-04-01 $97,350 (-1.0%) $117,630 (-3.6%) 0.00 221
    2019-05-01 $93,700 (-3.7%) $117,380 (-1.4%) 0.00 227
    2019-06-01 $90,000 (-5.2%) $117,684 (1.9%) 0.00 216
    2019-07-01 $89,900 (-4.1%) $117,945 (2.7%) 0.00 215
    2019-08-01 $88,550 (-4.0%) $116,365 (1.6%) 0.00 209
    2019-09-01 $86,525 (-3.8%) $113,299 (1.2%) 0.00 205
    2019-10-01 $85,175 (-5.3%) $110,846 (-1.0%) 0.00 201
    2019-11-01 $82,900 (-7.3%) $105,541 (-3.4%) 0.00 202
    2019-12-01 $79,900 (-6.6%) $102,812 (-2.1%) 0.00 189
    2020-01-01 $79,900 (-5.9%) $102,540 (-1.6%) 0.00 174
    2020-02-01 $83,950 (-1.1%) $106,436 (1.6%) 0.00 168
    2020-03-01 $84,900 (-4.3%) $107,538 (-1.5%) 0.00 173
    2020-04-01 $86,100 (-11.6%) $109,517 (-6.9%) 0.00 172
    2020-05-01 $87,200 (-6.9%) $109,732 (-6.5%) 0.00 166
    2020-06-01 $87,200 (-3.1%) $107,522 (-8.6%) 0.00 162
    2020-07-01 $87,200 (-3.0%) $106,444 (-9.8%) 0.00 162
    2020-08-01 $85,000 (-4.0%) $105,446 (-9.4%) 0.00 164
    2020-09-01 $85,400 (-1.3%) $109,131 (-3.7%) 0.00 172
    2020-10-01 $72,900 (-14.4%) $95,807 (-13.6%) 0.00 205
    2020-11-01 $69,900 (-15.7%) $91,947 (-12.9%) 0.00 212
    2020-12-01 $67,925 (-15.0%) $86,458 (-15.9%) 0.00 207
    2021-01-01 $65,000 (-18.7%) $85,837 (-16.3%) 0.00 202
    2021-02-01 $65,000 (-22.6%) $82,529 (-22.5%) 0.00 196
    2021-03-01 $67,125 (-20.9%) $83,438 (-22.4%) 0.00 192
    2021-04-01 $66,000 (-23.3%) $82,795 (-24.4%) 0.00 174
    2021-05-01 $62,900 (-27.9%) $79,210 (-27.8%) 0.00 164
    2021-06-01 $59,900 (-31.3%) $80,477 (-25.2%) 0.00 158
    2021-07-01 $60,000 (-31.2%) $90,012 (-15.4%) 0.00 171
    2021-08-01 $59,950 (-29.5%) $91,030 (-13.7%) 0.00 170
    2021-09-01 $59,900 (-29.9%) $91,484 (-16.2%) 0.00 156
    2021-10-01 $61,600 (-15.5%) $92,696 (-3.3%) 0.00 159
    2021-11-01 $63,136 (-9.7%) $94,165 (2.4%) 0.00 145
    2021-12-01 $61,257 (-9.8%) $94,136 (8.9%) 0.00 129
    2022-01-01 $59,900 (-7.9%) $96,289 (12.2%) 0.00 113
    2022-02-01 $59,450 (-8.5%) $95,989 (16.3%) 0.00 100
    2022-03-01 $56,375 (-16.0%) $94,343 (13.1%) 0.00 93
    2022-04-01 $56,000 (-15.2%) $91,928 (11.0%) 0.00 91
    2022-05-01 $58,850 (-6.4%) $92,890 (17.3%) 0.00 96
    2022-06-01 $59,900 (0.0%) $98,784 (22.8%) 0.00 92
    2022-07-01 $65,000 (8.3%) $101,198 (12.4%) 0.00 97
    2022-08-01 $69,450 (15.9%) $98,948 (8.7%) 0.00 109
    2022-09-01 $69,225 (15.6%) $97,972 (7.1%) 0.00 104
    2022-10-01 $72,400 (17.5%) $100,479 (8.4%) 0.00 97
    2022-11-01 $74,400 (17.8%) $112,917 (19.9%) 0.00 96
    2022-12-01 $72,900 (19.0%) $111,198 (18.1%) 0.00 95
    2023-01-01 $71,150 (18.8%) $101,905 (5.8%) 0.00 81
    2023-02-01 $70,650 (18.8%) $94,307 (-1.8%) 0.00 76
    2023-03-01 $69,900 (24.0%) $101,503 (7.6%) 0.00 72
    2023-04-01 $69,900 (24.8%) $107,546 (17.0%) 0.00 64
    2023-05-01 $75,000 (27.4%) $125,344 (34.9%) 0.00 59
    2023-06-01 $80,675 (34.7%) $137,267 (39.0%) 0.00 64
    2023-07-01 $75,750 (16.5%) $120,419 (19.0%) 0.00 75
    2023-08-01 $72,450 (4.3%) $104,481 (5.6%) 0.00 59
    2023-09-01 $80,900 (16.9%) $114,715 (17.1%) 0.00 67
    2023-10-01 $74,975 (3.6%) $111,695 (11.2%) 0.00 76
    2023-11-01 $74,900 (0.7%) $110,515 (-2.1%) 0.00 77
    2023-12-01 $79,900 (9.6%) $113,530 (2.1%) 0.00 67
    2024-01-01 $86,250 (21.2%) $116,596 (14.4%) 0.00 67
    2024-02-01 $84,400 (19.5%) $111,852 (18.6%) 0.00 60
    2024-03-01 $98,000 (40.2%) $115,393 (13.7%) 0.00 68
    Macomb's median listing price for 2024-03-01 was $98,000, a difference of $28,100 (40.2%) versus the prior year and $13,600 versus the prior month.

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

    Macomb's average listing price for 2024-03-01 was $115,393, a difference of $13,890 (13.7%) versus the prior year and $3,541 versus the prior month.

    For the 2024-03-01 period, Macomb had 68 MLS listings, a difference of 8 listings (13%) versus the prior month and -4 listings (-6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Macomb (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,720 sqft
    2018-02-01 0 days 1,668 sqft
    2018-03-01 0 days 1,688 sqft
    2018-04-01 0 days 1,709 sqft
    2018-05-01 0 days 1,663 sqft
    2018-06-01 0 days 1,616 sqft
    2018-07-01 0 days 1,668 sqft
    2018-08-01 0 days 1,632 sqft
    2018-09-01 0 days 1,606 sqft
    2018-10-01 0 days 1,620 sqft
    2018-11-01 0 days 1,576 sqft
    2018-12-01 0 days 1,569 sqft
    2019-01-01 0 days 1,594 sqft
    2019-02-01 0 days 1,620 sqft
    2019-03-01 0 days 1,703 sqft
    2019-04-01 0 days 1,800 sqft
    2019-05-01 0 days 1,825 sqft
    2019-06-01 0 days 1,802 sqft
    2019-07-01 0 days 1,800 sqft
    2019-08-01 0 days 1,741 sqft
    2019-09-01 0 days 1,653 sqft
    2019-10-01 0 days 1,576 sqft
    2019-11-01 0 days 1,560 sqft
    2019-12-01 0 days 1,535 sqft
    2020-01-01 0 days 1,537 sqft
    2020-02-01 0 days 1,604 sqft
    2020-03-01 0 days 1,597 sqft
    2020-04-01 0 days 1,623 sqft
    2020-05-01 0 days 1,632 sqft
    2020-06-01 0 days 1,612 sqft
    2020-07-01 0 days 1,582 sqft
    2020-08-01 0 days 1,560 sqft
    2020-09-01 0 days 1,539 sqft
    2020-10-01 0 days 1,472 sqft
    2020-11-01 0 days 1,489 sqft
    2020-12-01 0 days 1,456 sqft
    2021-01-01 0 days 1,468 sqft
    2021-02-01 0 days 1,462 sqft
    2021-03-01 0 days 1,432 sqft
    2021-04-01 0 days 1,424 sqft
    2021-05-01 0 days 1,354 sqft
    2021-06-01 0 days 1,341 sqft
    2021-07-01 0 days 1,338 sqft
    2021-08-01 0 days 1,351 sqft
    2021-09-01 0 days 1,411 sqft
    2021-10-01 0 days 1,427 sqft
    2021-11-01 0 days 1,360 sqft
    2021-12-01 0 days 1,341 sqft
    2022-01-01 0 days 1,346 sqft
    2022-02-01 0 days 1,344 sqft
    2022-03-01 0 days 1,343 sqft
    2022-04-01 0 days 1,302 sqft
    2022-05-01 0 days 1,345 sqft
    2022-06-01 0 days 1,375 sqft
    2022-07-01 0 days 1,483 sqft
    2022-08-01 0 days 1,583 sqft
    2022-09-01 0 days 1,553 sqft
    2022-10-01 0 days 1,531 sqft
    2022-11-01 0 days 1,564 sqft
    2022-12-01 0 days 1,509 sqft
    2023-01-01 0 days 1,432 sqft
    2023-02-01 0 days 1,477 sqft
    2023-03-01 0 days 1,389 sqft
    2023-04-01 0 days 1,368 sqft
    2023-05-01 0 days 1,368 sqft
    2023-06-01 0 days 1,467 sqft
    2023-07-01 0 days 1,424 sqft
    2023-08-01 0 days 1,378 sqft
    2023-09-01 0 days 1,521 sqft
    2023-10-01 0 days 1,480 sqft
    2023-11-01 0 days 1,515 sqft
    2023-12-01 0 days 1,486 sqft
    2024-01-01 0 days 1,480 sqft
    2024-02-01 0 days 1,403 sqft
    2024-03-01 0 days 1,507 sqft
    Macomb's median listing age (time on market) for 2024-03-01 was 0 days.

    Macomb's median square footage for active listings during the 2024-03-01 period was 1,507 sqft. One year prior, the average listing was 1,389 sqft.