Magnolia USDA Loan Rates, Closing Costs & Stats

Magnolia, AR

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.

Magnolia's 6 lenders originated 19 USDA loans during 2021. The total origination value was $2,405,000, with an average USDA loan value of $126,579.

Magnolia USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Magnolia averaged 6.36% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Magnolia's average USDA mortgage closing costs are $3,745.

The average rate for the prior week (2022-11-25) was 6.7% and one month ago for the week of 2022-10-28, the average rate was 6.97%.

The average rate one year ago was 3.06%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.07%.

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

Magnolia 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 Magnolia level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Farmers Bank & Trust Company 11 2.70% $3,682
FirstTrust Home Loans, Inc. 4 3.50% $3,720
First Community Bank 1 3.00% $3,188
Flagstar Bank, FSB 1 2.75% $5,879
HOME POINT FINANCIAL CORPORATION 1 2.63% $5,668
UNION HOME MORTGAGE CORP. 1 2.88% $3,877

The top Magnolia USDA lender as defined by loan originations is Farmers Bank & Trust Company, with 11 USDA loans originated. Their average total fees are $3,682, which is $38 lower than the next largest lender, FirstTrust Home Loans, Inc..

The lowest fee Magnolia USDA lenders (with over 10 loans originated) are Farmers Bank & Trust Company ($3,682), .

The lowest rate Magnolia USDA lenders (with over 10 loans originated) are Farmers Bank & Trust Company (2.70%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Magnolia (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 $118,675 (0.6%) $140,337 (-12.5%) 0.00 141
2018-02-01 $114,950 (-1.8%) $138,574 (-11.5%) 0.00 139
2018-03-01 $119,900 (3.4%) $136,822 (-13.9%) 0.00 132
2018-04-01 $133,700 (14.3%) $145,394 (-6.7%) 0.00 128
2018-05-01 $148,000 (23.5%) $152,247 (-2.6%) 0.00 126
2018-06-01 $129,900 (1.0%) $145,967 (-4.7%) 0.00 128
2018-07-01 $121,975 (-12.5%) $138,348 (-11.5%) 0.00 109
2018-08-01 $129,900 (-3.7%) $142,891 (-6.8%) 0.00 110
2018-09-01 $129,900 (-5.2%) $144,493 (-7.9%) 0.00 111
2018-10-01 $131,175 (2.5%) $147,470 (-2.2%) 0.00 121
2018-11-01 $136,250 (6.4%) $150,976 (0.1%) 0.00 116
2018-12-01 $146,950 (15.3%) $154,599 (5.3%) 0.00 118
2019-01-01 $149,450 (25.9%) $156,456 (11.5%) 0.00 113
2019-02-01 $149,225 (29.8%) $153,060 (10.5%) 0.00 115
2019-03-01 $143,800 (19.9%) $155,429 (13.6%) 0.00 110
2019-04-01 $141,525 (5.9%) $160,382 (10.3%) 0.00 109
2019-05-01 $148,250 (0.2%) $161,001 (5.8%) 0.00 114
2019-06-01 $147,500 (13.6%) $162,348 (11.2%) 0.00 123
2019-07-01 $139,900 (14.7%) $160,580 (16.1%) 0.00 134
2019-08-01 $139,609 (7.5%) $162,622 (13.8%) 0.00 131
2019-09-01 $139,773 (7.6%) $166,053 (14.9%) 0.00 127
2019-10-01 $139,900 (6.7%) $169,100 (14.7%) 0.00 125
2019-11-01 $144,900 (6.4%) $174,550 (15.6%) 0.00 112
2019-12-01 $145,200 (-1.2%) $172,731 (11.7%) 0.00 112
2020-01-01 $152,000 (1.7%) $179,419 (14.7%) 0.00 107
2020-02-01 $149,000 (-0.2%) $178,006 (16.3%) 0.00 115
2020-03-01 $146,375 (1.8%) $179,780 (15.7%) 0.00 114
2020-04-01 $152,400 (7.7%) $184,754 (15.2%) 0.00 112
2020-05-01 $175,000 (18.0%) $192,501 (19.6%) 0.00 110
2020-06-01 $167,850 (13.8%) $191,094 (17.7%) 0.00 103
2020-07-01 $159,875 (14.3%) $186,519 (16.2%) 0.00 96
2020-08-01 $169,900 (21.7%) $191,357 (17.7%) 0.00 86
2020-09-01 $169,750 (21.5%) $191,854 (15.5%) 0.00 75
2020-10-01 $169,000 (20.8%) $184,401 (9.1%) 0.00 79
2020-11-01 $169,000 (16.6%) $183,389 (5.1%) 0.00 79
2020-12-01 $159,750 (10.0%) $174,849 (1.2%) 0.00 78
2021-01-01 $157,000 (3.3%) $167,751 (-6.5%) 0.00 71
2021-02-01 $157,000 (5.4%) $171,157 (-3.9%) 0.00 66
2021-03-01 $147,200 (0.6%) $166,123 (-7.6%) 0.00 54
2021-04-01 $138,450 (-9.2%) $159,636 (-13.6%) 0.00 48
2021-05-01 $138,700 (-20.7%) $156,617 (-18.6%) 0.00 40
2021-06-01 $139,900 (-16.7%) $160,709 (-15.9%) 0.00 41
2021-07-01 $132,500 (-17.1%) $164,740 (-11.7%) 0.00 42
2021-08-01 $127,500 (-25.0%) $171,286 (-10.5%) 0.00 44
2021-09-01 $141,225 (-16.8%) $191,939 (0.0%) 0.00 43
2021-10-01 $150,000 (-11.2%) $196,182 (6.4%) 0.00 39
2021-11-01 $163,500 (-3.3%) $210,218 (14.6%) 0.00 36
2021-12-01 $203,750 (27.5%) $217,092 (24.2%) 0.00 38
2022-01-01 $180,000 (14.7%) $208,824 (24.5%) 0.00 37
2022-02-01 $175,000 (11.5%) $194,586 (13.7%) 0.00 33
2022-03-01 $211,150 (43.4%) $210,752 (26.9%) 0.00 32
2022-04-01 $177,500 (28.2%) $201,612 (26.3%) 0.00 35
2022-05-01 $219,950 (58.6%) $214,991 (37.3%) 0.00 34
2022-06-01 $177,450 (26.8%) $205,970 (28.2%) 0.00 43
2022-07-01 $185,000 (39.6%) $214,593 (30.3%) 0.00 46
2022-08-01 $171,250 (34.3%) $198,083 (15.6%) 0.00 44
2022-09-01 $190,000 (34.5%) $223,027 (16.2%) 0.00 41
2022-10-01 $195,000 (30.0%) $217,907 (11.1%) 0.00 50
2022-11-01 $199,000 (21.7%) $226,064 (7.5%) 0.00 54
Magnolia's median listing price for 2022-11-01 was $199,000, a difference of $35,500 (21.7%) versus the prior year and $4,000 versus the prior month.

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

Magnolia's average listing price for 2022-11-01 was $226,064, a difference of $15,846 (7.5%) versus the prior year and $8,157 versus the prior month.

For the 2022-11-01 period, Magnolia had 54 MLS listings, a difference of 4 listings (8%) versus the prior month and 18 listings (50%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Magnolia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,654 sqft
2018-02-01 0 days 1,707 sqft
2018-03-01 0 days 1,739 sqft
2018-04-01 0 days 2,024 sqft
2018-05-01 0 days 2,094 sqft
2018-06-01 0 days 2,205 sqft
2018-07-01 0 days 2,169 sqft
2018-08-01 0 days 2,189 sqft
2018-09-01 0 days 2,109 sqft
2018-10-01 0 days 1,950 sqft
2018-11-01 0 days 1,811 sqft
2018-12-01 0 days 1,720 sqft
2019-01-01 0 days 1,719 sqft
2019-02-01 0 days 1,729 sqft
2019-03-01 0 days 1,718 sqft
2019-04-01 0 days 1,742 sqft
2019-05-01 0 days 1,788 sqft
2019-06-01 0 days 2,000 sqft
2019-07-01 0 days 1,938 sqft
2019-08-01 0 days 1,976 sqft
2019-09-01 0 days 2,032 sqft
2019-10-01 0 days 2,069 sqft
2019-11-01 0 days 2,109 sqft
2019-12-01 0 days 2,097 sqft
2020-01-01 0 days 1,960 sqft
2020-02-01 0 days 1,971 sqft
2020-03-01 0 days 1,969 sqft
2020-04-01 0 days 2,000 sqft
2020-05-01 0 days 2,031 sqft
2020-06-01 0 days 2,095 sqft
2020-07-01 0 days 2,031 sqft
2020-08-01 0 days 1,964 sqft
2020-09-01 0 days 2,062 sqft
2020-10-01 0 days 1,866 sqft
2020-11-01 0 days 1,580 sqft
2020-12-01 0 days 1,609 sqft
2021-01-01 0 days 1,746 sqft
2021-02-01 0 days 1,833 sqft
2021-03-01 0 days 1,850 sqft
2021-04-01 0 days 1,841 sqft
2021-05-01 0 days 2,314 sqft
2021-06-01 0 days 2,062 sqft
2021-07-01 0 days 1,866 sqft
2021-08-01 0 days 1,717 sqft
2021-09-01 0 days 1,898 sqft
2021-10-01 0 days 1,894 sqft
2021-11-01 0 days 1,909 sqft
2021-12-01 0 days 1,910 sqft
2022-01-01 0 days 1,909 sqft
2022-02-01 0 days 1,874 sqft
2022-03-01 0 days 1,861 sqft
2022-04-01 0 days 1,820 sqft
2022-05-01 0 days 1,917 sqft
2022-06-01 0 days 1,825 sqft
2022-07-01 0 days 1,968 sqft
2022-08-01 0 days 1,927 sqft
2022-09-01 0 days 2,096 sqft
2022-10-01 0 days 2,062 sqft
2022-11-01 0 days 2,030 sqft
Magnolia's median listing age (time on market) for 2022-11-01 was 0 days.

Magnolia's median square footage for active listings during the 2022-11-01 period was 2,030 sqft. One year prior, the average listing was 1,909 sqft.