Madison USDA Loans

MADISON, WI

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.

Madison's 25 lenders originated 91 USDA loans during 2021. The total origination value was $18,185,000, with an average USDA loan value of $199,835.

Madison USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Madison averaged 5.29% 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 5.42% and one month ago for the week of 2022-04-08, the average rate was 4.99%.

The average rate one year ago was 2.9%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.04%.

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

Madison 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 Madison level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Lend Smart Mortgage, LLC 10 3.23% $3,401
DAS Acquisition Company, LLC 8 3.19% $5,507
GUILD MORTGAGE COMPANY 7 3.07% $6,453
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 3.06% $4,403
Barrington Bank & Trust Company, N.A. 6 2.90% $5,346
Flagstar Bank, FSB 6 2.77% $3,987
Prosperity Home Mortgage, LLC 6 2.83% $4,623
INLANTA MORTGAGE, INC. 5 3.25% $4,876
Paramount Residential Mortgage Group, Inc. 5 2.90% $4,543
THOMPSON KANE & COMPANY, LLC 5 2.85% $4,427
First Guaranty Mortgage Corporation 4 2.75% $4,626
NEWREZ LLC 4 2.94% $5,089
AMERICAN PACIFIC MORTGAGE CORPORATION 2 2.94% $3,877
CALIBER HOME LOANS, INC. 2 3.00% $3,396
Farmers & Merchants State Bank 2 2.38% $4,922
INLAND BANK & TRUST 2 2.31% $7,397
NATIONS RELIABLE LENDING, LLC 2 4.25% $3,897
The First National Bank and Trust Company 2 3.25% $3,492
GUARANTEED RATE, INC. 1 3.00% $4,850
CORNERSTONE HOME LENDING, INC. 1 3.25% $6,380
Carrington Mortgage Services, LLC 1 4.25% $9,767
VAN DYK MORTGAGE CORPORATION 1 3.50% $3,853
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.88% $4,762
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.25% $3,876
TOWNE MORTGAGE COMPANY 1 2.88% $3,973

The top Madison USDA lender as defined by loan originations is Lend Smart Mortgage, LLC, with 10 USDA loans originated. Their average total fees are $3,401, which is $2,107 lower than the next largest lender, DAS Acquisition Company, LLC.

The lowest fee Madison USDA lenders (with over 10 loans originated) are Lend Smart Mortgage, LLC ($3,401), .

The lowest rate Madison USDA lenders (with over 10 loans originated) are Lend Smart Mortgage, LLC (3.23%), .