Madison USDA Loan Rates, Closing Costs & Stats
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 11 lenders originated 20 USDA loans during 2023. The total origination value was $4,660,000, with an average USDA loan value of $233,000.
Madison USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Madison
averaged
-0.23%
for the week of 2024-11-15, compared to the national average (all USDA variants) of
0% for the same period.
Madison's average USDA mortgage closing costs are $4,797.
The average rate for the prior week (2024-11-08) was
6.23% and
one month ago for the week of 2024-10-11, the
average rate was 5.89%.
The average rate one year ago was 7.11%.
For refis of the same type during the week of 2024-11-15, the average rate
was -2.51%.
Madison 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 Madison level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| CROSSCOUNTRY MORTGAGE, LLC | 3 | 6.43% | $11,288 |
| Bell Bank | 3 | 6.67% | $8,805 |
| GUILD MORTGAGE COMPANY | 3 | 6.96% | $7,540 |
| NEWREZ LLC | 2 | 6.50% | $4,356 |
| The First National Bank and Trust Company | 2 | 6.25% | $3,321 |
| Flagstar Bank, FSB | 1 | 7.25% | $13,674 |
| DAS Acquisition Company, LLC | 1 | 8.00% | $6,548 |
| AMERICAN PACIFIC MORTGAGE CORPORATION | 1 | 6.63% | $6,348 |
| Century Mortgage Company DBA Century Lending Company | 1 | 6.63% | $6,387 |
| American Mortgage & Equity Consultants, Inc. | 1 | 6.75% | $5,991 |
| FIRST CENTENNIAL MORTGAGE CORPORATION | 1 | 6.88% | $5,320 |
The top Madison USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with
3 USDA loans originated. Their average total fees are
$11,288, which is $2,483
higher than the next largest lender,
Bell Bank.
The lowest fee Madison USDA lenders (with over 10 loans originated) are
.
The lowest rate Madison USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Madison (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 | $329,950 (6.5%) | $385,433 (7.8%) | 1.22 | 1,106 |
| 2018-02-01 | $349,900 (8.5%) | $399,589 (7.5%) | 1.27 | 1,086 |
| 2018-03-01 | $355,000 (6.0%) | $405,599 (4.7%) | 1.25 | 1,185 |
| 2018-04-01 | $357,925 (2.0%) | $412,380 (2.6%) | 1.21 | 1,300 |
| 2018-05-01 | $349,900 (0.0%) | $406,013 (1.8%) | 1.17 | 1,405 |
| 2018-06-01 | $340,000 (-0.7%) | $396,388 (1.4%) | 1.13 | 1,585 |
| 2018-07-01 | $339,900 (3.0%) | $392,614 (1.4%) | 1.14 | 1,697 |
| 2018-08-01 | $332,225 (1.9%) | $390,414 (3.2%) | 1.11 | 1,807 |
| 2018-09-01 | $334,900 (5.0%) | $395,749 (5.7%) | 1.13 | 1,880 |
| 2018-10-01 | $329,900 (7.3%) | $395,809 (8.2%) | 1.12 | 1,856 |
| 2018-11-01 | $329,900 (4.8%) | $392,702 (6.2%) | 1.12 | 1,668 |
| 2018-12-01 | $329,900 (3.1%) | $389,055 (3.3%) | 1.14 | 1,408 |
| 2019-01-01 | $339,950 (3.0%) | $404,153 (4.9%) | 1.17 | 1,260 |
| 2019-02-01 | $365,900 (4.6%) | $427,553 (7.0%) | 1.24 | 1,185 |
| 2019-03-01 | $370,614 (4.4%) | $435,402 (7.4%) | 1.21 | 1,226 |
| 2019-04-01 | $368,114 (2.9%) | $428,497 (3.9%) | 1.17 | 1,327 |
| 2019-05-01 | $366,000 (4.6%) | $430,442 (6.0%) | 1.14 | 1,446 |
| 2019-06-01 | $365,000 (7.4%) | $430,603 (8.6%) | 1.14 | 1,555 |
| 2019-07-01 | $352,548 (3.7%) | $418,240 (6.5%) | 1.10 | 1,644 |
| 2019-08-01 | $347,245 (4.5%) | $411,621 (5.4%) | 1.10 | 1,707 |
| 2019-09-01 | $343,114 (2.5%) | $406,191 (2.6%) | 1.10 | 1,775 |
| 2019-10-01 | $339,950 (3.1%) | $402,782 (1.8%) | 1.10 | 1,798 |
| 2019-11-01 | $340,000 (3.1%) | $404,794 (3.1%) | 1.11 | 1,573 |
| 2019-12-01 | $346,400 (5.0%) | $405,804 (4.3%) | 1.16 | 1,271 |
| 2020-01-01 | $347,400 (2.2%) | $411,512 (1.8%) | 1.16 | 1,136 |
| 2020-02-01 | $369,000 (0.9%) | $442,928 (3.6%) | 1.21 | 1,100 |
| 2020-03-01 | $372,423 (0.5%) | $451,628 (3.7%) | 1.17 | 1,161 |
| 2020-04-01 | $379,450 (3.1%) | $450,914 (5.2%) | 1.19 | 1,230 |
| 2020-05-01 | $384,950 (5.2%) | $451,853 (5.0%) | 1.17 | 1,170 |
| 2020-06-01 | $387,450 (6.2%) | $457,897 (6.3%) | 1.14 | 1,128 |
| 2020-07-01 | $377,450 (7.1%) | $453,348 (8.4%) | 1.09 | 1,107 |
| 2020-08-01 | $366,500 (5.5%) | $452,117 (9.8%) | 1.05 | 1,066 |
| 2020-09-01 | $359,950 (4.9%) | $443,358 (9.2%) | 1.03 | 1,033 |
| 2020-10-01 | $359,900 (5.9%) | $435,206 (8.1%) | 1.03 | 1,054 |
| 2020-11-01 | $364,625 (7.2%) | $438,753 (8.4%) | 1.07 | 863 |
| 2020-12-01 | $362,000 (4.5%) | $438,654 (8.1%) | 1.08 | 666 |
| 2021-01-01 | $374,900 (7.9%) | $455,263 (10.6%) | 1.12 | 537 |
| 2021-02-01 | $387,950 (5.1%) | $477,477 (7.8%) | 1.13 | 468 |
| 2021-03-01 | $383,925 (3.1%) | $468,247 (3.7%) | 1.09 | 468 |
| 2021-04-01 | $382,000 (0.7%) | $469,401 (4.1%) | 1.03 | 524 |
| 2021-05-01 | $387,500 (0.7%) | $469,350 (3.9%) | 1.03 | 547 |
| 2021-06-01 | $384,975 (-0.6%) | $473,907 (3.5%) | 1.01 | 650 |
| 2021-07-01 | $385,900 (2.2%) | $466,992 (3.0%) | 1.02 | 792 |
| 2021-08-01 | $382,400 (4.3%) | $463,590 (2.5%) | 1.02 | 894 |
| 2021-09-01 | $374,900 (4.2%) | $455,525 (2.7%) | 1.00 | 919 |
| 2021-10-01 | $375,000 (4.2%) | $451,680 (3.8%) | 1.00 | 881 |
| 2021-11-01 | $380,650 (4.4%) | $455,106 (3.7%) | 1.02 | 706 |
| 2021-12-01 | $387,400 (7.0%) | $458,974 (4.6%) | 1.05 | 533 |
| 2022-01-01 | $389,900 (4.0%) | $465,127 (2.2%) | 1.05 | 410 |
| 2022-02-01 | $399,900 (3.1%) | $481,821 (0.9%) | 1.04 | 388 |
| 2022-03-01 | $399,925 (4.2%) | $475,671 (1.6%) | 1.00 | 431 |
| 2022-04-01 | $408,550 (7.0%) | $476,934 (1.6%) | 0.97 | 508 |
| 2022-05-01 | $407,875 (5.3%) | $490,446 (4.5%) | 0.93 | 614 |
| 2022-06-01 | $416,950 (8.3%) | $511,389 (7.9%) | 0.93 | 723 |
| 2022-07-01 | $412,450 (6.9%) | $516,150 (10.5%) | 0.93 | 845 |
| 2022-08-01 | $412,475 (7.9%) | $522,415 (12.7%) | 0.95 | 844 |
| 2022-09-01 | $406,725 (8.5%) | $514,805 (13.0%) | 0.95 | 824 |
| 2022-10-01 | $409,900 (9.3%) | $527,112 (16.7%) | 0.96 | 865 |
| 2022-11-01 | $419,425 (10.2%) | $525,389 (15.4%) | 1.01 | 816 |
| 2022-12-01 | $424,150 (9.5%) | $522,661 (13.9%) | 1.05 | 641 |
| 2023-01-01 | $443,950 (13.9%) | $547,947 (17.8%) | 1.10 | 568 |
| 2023-02-01 | $446,900 (11.8%) | $566,534 (17.6%) | 1.08 | 506 |
| 2023-03-01 | $464,900 (16.3%) | $580,909 (22.1%) | 1.10 | 500 |
| 2023-04-01 | $479,900 (17.5%) | $599,909 (25.8%) | 1.12 | 524 |
| 2023-05-01 | $469,675 (15.2%) | $586,361 (19.6%) | 1.07 | 575 |
| 2023-06-01 | $476,500 (14.3%) | $575,918 (12.6%) | 1.07 | 627 |
| 2023-07-01 | $479,900 (16.4%) | $575,620 (11.5%) | 1.09 | 658 |
| 2023-08-01 | $481,500 (16.7%) | $571,480 (9.4%) | 1.11 | 686 |
| 2023-09-01 | $475,000 (16.8%) | $570,783 (10.9%) | 1.11 | 773 |
| 2023-10-01 | $469,900 (14.6%) | $566,843 (7.5%) | 1.11 | 802 |
| 2023-11-01 | $466,700 (11.3%) | $560,972 (6.8%) | 1.11 | 765 |
| 2023-12-01 | $479,950 (13.2%) | $565,274 (8.2%) | 1.17 | 652 |
| 2024-01-01 | $492,425 (10.9%) | $597,269 (9.0%) | 1.20 | 550 |
| 2024-02-01 | $494,475 (10.7%) | $597,391 (5.5%) | 1.19 | 537 |
| 2024-03-01 | $475,000 (2.2%) | $578,084 (-0.5%) | 1.12 | 603 |
| 2024-04-01 | $492,175 (2.6%) | $586,010 (-2.3%) | 1.14 | 647 |
| 2024-05-01 | $500,450 (6.6%) | $613,284 (4.6%) | 1.13 | 719 |
| 2024-06-01 | $499,950 (4.9%) | $601,520 (4.5%) | 1.12 | 861 |
| 2024-07-01 | $474,900 (-1.0%) | $567,457 (-1.4%) | 1.09 | 934 |
| 2024-08-01 | $469,850 (-2.4%) | $567,190 (-0.8%) | 1.09 | 1,028 |
| 2024-09-01 | $461,725 (-2.8%) | $553,773 (-3.0%) | 1.09 | 1,100 |
| 2024-10-01 | $453,835 (-3.4%) | $554,370 (-2.2%) | 1.07 | 1,082 |
Madison's median listing price comes in at 107% of the national average.
Madison's average listing price for 2024-10-01 was $554,370, a difference of $-12,473 (-2.2%) versus the prior year and $597 versus the prior month.
For the 2024-10-01 period, Madison had 1,082 MLS listings, a difference of -18 listings (-2%) versus the prior month and 280 listings (35%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Madison (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 87 days | 1,988 sqft |
| 2018-02-01 | 66 days | 2,058 sqft |
| 2018-03-01 | 40 days | 2,123 sqft |
| 2018-04-01 | 41 days | 2,158 sqft |
| 2018-05-01 | 41 days | 2,158 sqft |
| 2018-06-01 | 43 days | 2,143 sqft |
| 2018-07-01 | 45 days | 2,099 sqft |
| 2018-08-01 | 48 days | 2,074 sqft |
| 2018-09-01 | 52 days | 2,053 sqft |
| 2018-10-01 | 58 days | 2,025 sqft |
| 2018-11-01 | 66 days | 2,016 sqft |
| 2018-12-01 | 74 days | 1,966 sqft |
| 2019-01-01 | 81 days | 1,996 sqft |
| 2019-02-01 | 73 days | 2,121 sqft |
| 2019-03-01 | 59 days | 2,178 sqft |
| 2019-04-01 | 45 days | 2,170 sqft |
| 2019-05-01 | 40 days | 2,167 sqft |
| 2019-06-01 | 43 days | 2,150 sqft |
| 2019-07-01 | 46 days | 2,119 sqft |
| 2019-08-01 | 50 days | 2,108 sqft |
| 2019-09-01 | 56 days | 2,072 sqft |
| 2019-10-01 | 60 days | 2,047 sqft |
| 2019-11-01 | 73 days | 2,019 sqft |
| 2019-12-01 | 94 days | 2,009 sqft |
| 2020-01-01 | 94 days | 1,990 sqft |
| 2020-02-01 | 74 days | 2,076 sqft |
| 2020-03-01 | 48 days | 2,107 sqft |
| 2020-04-01 | 50 days | 2,161 sqft |
| 2020-05-01 | 60 days | 2,172 sqft |
| 2020-06-01 | 67 days | 2,164 sqft |
| 2020-07-01 | 57 days | 2,115 sqft |
| 2020-08-01 | 57 days | 2,070 sqft |
| 2020-09-01 | 52 days | 2,004 sqft |
| 2020-10-01 | 49 days | 1,957 sqft |
| 2020-11-01 | 55 days | 1,928 sqft |
| 2020-12-01 | 65 days | 1,900 sqft |
| 2021-01-01 | 65 days | 1,918 sqft |
| 2021-02-01 | 43 days | 1,986 sqft |
| 2021-03-01 | 35 days | 1,964 sqft |
| 2021-04-01 | 30 days | 1,977 sqft |
| 2021-05-01 | 36 days | 2,049 sqft |
| 2021-06-01 | 34 days | 2,014 sqft |
| 2021-07-01 | 36 days | 1,964 sqft |
| 2021-08-01 | 37 days | 1,937 sqft |
| 2021-09-01 | 41 days | 1,905 sqft |
| 2021-10-01 | 45 days | 1,886 sqft |
| 2021-11-01 | 52 days | 1,833 sqft |
| 2021-12-01 | 60 days | 1,790 sqft |
| 2022-01-01 | 61 days | 1,790 sqft |
| 2022-02-01 | 41 days | 1,810 sqft |
| 2022-03-01 | 32 days | 1,881 sqft |
| 2022-04-01 | 30 days | 1,868 sqft |
| 2022-05-01 | 30 days | 1,910 sqft |
| 2022-06-01 | 35 days | 1,986 sqft |
| 2022-07-01 | 37 days | 1,977 sqft |
| 2022-08-01 | 44 days | 1,960 sqft |
| 2022-09-01 | 47 days | 1,948 sqft |
| 2022-10-01 | 46 days | 1,964 sqft |
| 2022-11-01 | 52 days | 1,964 sqft |
| 2022-12-01 | 68 days | 1,930 sqft |
| 2023-01-01 | 76 days | 1,959 sqft |
| 2023-02-01 | 59 days | 1,962 sqft |
| 2023-03-01 | 40 days | 1,977 sqft |
| 2023-04-01 | 36 days | 2,054 sqft |
| 2023-05-01 | 34 days | 2,004 sqft |
| 2023-06-01 | 39 days | 2,019 sqft |
| 2023-07-01 | 42 days | 2,025 sqft |
| 2023-08-01 | 41 days | 2,026 sqft |
| 2023-09-01 | 46 days | 2,064 sqft |
| 2023-10-01 | 49 days | 2,015 sqft |
| 2023-11-01 | 56 days | 1,999 sqft |
| 2023-12-01 | 66 days | 1,982 sqft |
| 2024-01-01 | 69 days | 1,972 sqft |
| 2024-02-01 | 49 days | 1,991 sqft |
| 2024-03-01 | 41 days | 1,920 sqft |
| 2024-04-01 | 40 days | 1,928 sqft |
| 2024-05-01 | 31 days | 1,994 sqft |
| 2024-06-01 | 36 days | 1,998 sqft |
| 2024-07-01 | 44 days | 1,920 sqft |
| 2024-08-01 | 44 days | 1,920 sqft |
| 2024-09-01 | 46 days | 1,908 sqft |
| 2024-10-01 | 52 days | 1,915 sqft |
Madison's median square footage for active listings during the 2024-10-01 period was 1,915 sqft. One year prior, the average listing was 2,015 sqft.