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 5 lenders originated 6 USDA loans during 2022. The total origination value was $760,000, with an average USDA loan value of $126,667.
Magnolia USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Magnolia
averaged
-0.46%
for the week of 2023-11-24, compared to the national average (all USDA variants) of
0% for the same period.
Magnolia's average USDA mortgage closing costs are $3,767.
The average rate for the prior week (2023-11-17) was
6.73% and
one month ago for the week of 2023-10-20, the
average rate was 7.15%.
The average rate one year ago was 6.29%.
For refis of the same type during the week of 2023-11-24, the average rate
was -0.1%.
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 | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
---|---|---|---|
Farmers Bank & Trust Company | 2 | 4.44% | $3,645 |
EVERETT FINANCIAL, INC. | 1 | 4.63% | $2,577 |
FirstTrust Home Loans, Inc. | 1 | 2.88% | $4,013 |
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | 1 | 3.25% | $3,951 |
PLANET HOME LENDING, LLC | 1 | 5.63% | $6,231 |
The top Magnolia USDA lender as defined by loan originations is Farmers Bank & Trust Company, with
2 USDA loans originated. Their average total fees are
$3,645, which is $1,067
higher than the next largest lender,
EVERETT FINANCIAL, INC..
The lowest fee Magnolia USDA lenders (with over 10 loans originated) are
.
The lowest rate Magnolia USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Magnolia (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $119,900 (1.6%) | $140,881 (-12.1%) | 0.00 | 140 |
2018-02-01 | $114,950 (-1.8%) | $137,705 (-12.1%) | 0.00 | 137 |
2018-03-01 | $119,900 (3.4%) | $135,609 (-14.7%) | 0.00 | 130 |
2018-04-01 | $134,950 (15.3%) | $145,999 (-6.3%) | 0.00 | 127 |
2018-05-01 | $149,000 (24.3%) | $152,893 (-2.2%) | 0.00 | 125 |
2018-06-01 | $132,400 (2.9%) | $146,571 (-4.3%) | 0.00 | 127 |
2018-07-01 | $123,950 (-11.1%) | $138,981 (-11.1%) | 0.00 | 108 |
2018-08-01 | $129,900 (-5.4%) | $143,593 (-6.7%) | 0.00 | 109 |
2018-09-01 | $129,900 (-6.6%) | $145,190 (-7.8%) | 0.00 | 110 |
2018-10-01 | $132,450 (2.9%) | $148,146 (-2.1%) | 0.00 | 120 |
2018-11-01 | $136,250 (5.4%) | $151,323 (-0.1%) | 0.00 | 116 |
2018-12-01 | $146,950 (15.3%) | $154,599 (4.9%) | 0.00 | 118 |
2019-01-01 | $149,450 (24.7%) | $156,456 (11.1%) | 0.00 | 113 |
2019-02-01 | $149,225 (29.8%) | $153,060 (11.2%) | 0.00 | 115 |
2019-03-01 | $143,800 (19.9%) | $155,429 (14.6%) | 0.00 | 110 |
2019-04-01 | $141,525 (4.9%) | $160,382 (9.9%) | 0.00 | 109 |
2019-05-01 | $148,250 (-0.5%) | $161,001 (5.3%) | 0.00 | 114 |
2019-06-01 | $147,500 (11.4%) | $162,348 (10.8%) | 0.00 | 123 |
2019-07-01 | $139,900 (12.9%) | $160,580 (15.5%) | 0.00 | 134 |
2019-08-01 | $139,609 (7.5%) | $162,622 (13.3%) | 0.00 | 131 |
2019-09-01 | $139,773 (7.6%) | $166,053 (14.4%) | 0.00 | 127 |
2019-10-01 | $139,900 (5.6%) | $169,100 (14.1%) | 0.00 | 125 |
2019-11-01 | $144,900 (6.4%) | $174,550 (15.4%) | 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%) | $185,275 (15.5%) | 0.00 | 111 |
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 (-13.8%) | 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 |
2022-12-01 | $199,000 (-2.3%) | $220,604 (1.6%) | 0.00 | 56 |
2023-01-01 | $185,000 (2.8%) | $210,622 (0.9%) | 0.00 | 53 |
2023-02-01 | $185,000 (5.7%) | $223,008 (14.6%) | 0.00 | 54 |
2023-03-01 | $164,950 (-21.9%) | $208,119 (-1.3%) | 0.00 | 54 |
2023-04-01 | $159,900 (-9.9%) | $198,211 (-1.7%) | 0.00 | 62 |
2023-05-01 | $187,450 (-14.8%) | $229,596 (6.8%) | 0.00 | 63 |
2023-06-01 | $205,725 (15.9%) | $247,945 (20.4%) | 0.00 | 58 |
2023-07-01 | $215,000 (16.2%) | $250,896 (16.9%) | 0.00 | 57 |
2023-08-01 | $220,750 (28.9%) | $254,379 (28.4%) | 0.00 | 61 |
2023-09-01 | $219,900 (15.7%) | $263,358 (18.1%) | 0.00 | 71 |
2023-10-01 | $219,975 (12.8%) | $268,725 (23.3%) | 0.00 | 87 |
Magnolia's median listing price comes in at 0% of the national average.
Magnolia's average listing price for 2023-10-01 was $268,725, a difference of $50,818 (23.3%) versus the prior year and $5,367 versus the prior month.
For the 2023-10-01 period, Magnolia had 87 MLS listings, a difference of 16 listings (23%) versus the prior month and 37 listings (74%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Magnolia (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,681 sqft |
2018-02-01 | 0 days | 1,714 sqft |
2018-03-01 | 0 days | 1,739 sqft |
2018-04-01 | 0 days | 2,000 sqft |
2018-05-01 | 0 days | 2,094 sqft |
2018-06-01 | 0 days | 2,189 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 | 1,792 sqft |
2018-12-01 | 0 days | 1,729 sqft |
2019-01-01 | 0 days | 1,738 sqft |
2019-02-01 | 0 days | 1,756 sqft |
2019-03-01 | 0 days | 1,783 sqft |
2019-04-01 | 0 days | 1,833 sqft |
2019-05-01 | 0 days | 1,879 sqft |
2019-06-01 | 0 days | 2,000 sqft |
2019-07-01 | 0 days | 1,954 sqft |
2019-08-01 | 0 days | 2,018 sqft |
2019-09-01 | 0 days | 2,091 sqft |
2019-10-01 | 0 days | 2,139 sqft |
2019-11-01 | 0 days | 2,109 sqft |
2019-12-01 | 0 days | 2,056 sqft |
2020-01-01 | 0 days | 2,016 sqft |
2020-02-01 | 0 days | 2,038 sqft |
2020-03-01 | 0 days | 2,009 sqft |
2020-04-01 | 0 days | 2,044 sqft |
2020-05-01 | 0 days | 2,109 sqft |
2020-06-01 | 0 days | 2,114 sqft |
2020-07-01 | 0 days | 2,086 sqft |
2020-08-01 | 0 days | 2,095 sqft |
2020-09-01 | 0 days | 2,155 sqft |
2020-10-01 | 0 days | 2,128 sqft |
2020-11-01 | 0 days | 1,965 sqft |
2020-12-01 | 0 days | 2,013 sqft |
2021-01-01 | 0 days | 2,062 sqft |
2021-02-01 | 0 days | 1,964 sqft |
2021-03-01 | 0 days | 1,963 sqft |
2021-04-01 | 0 days | 1,922 sqft |
2021-05-01 | 0 days | 2,177 sqft |
2021-06-01 | 0 days | 2,120 sqft |
2021-07-01 | 0 days | 1,941 sqft |
2021-08-01 | 0 days | 1,941 sqft |
2021-09-01 | 0 days | 1,971 sqft |
2021-10-01 | 0 days | 1,908 sqft |
2021-11-01 | 0 days | 1,917 sqft |
2021-12-01 | 0 days | 1,909 sqft |
2022-01-01 | 0 days | 1,908 sqft |
2022-02-01 | 0 days | 1,834 sqft |
2022-03-01 | 0 days | 1,834 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 |
2022-12-01 | 0 days | 1,926 sqft |
2023-01-01 | 0 days | 1,872 sqft |
2023-02-01 | 0 days | 1,936 sqft |
2023-03-01 | 0 days | 1,933 sqft |
2023-04-01 | 0 days | 1,860 sqft |
2023-05-01 | 0 days | 1,928 sqft |
2023-06-01 | 0 days | 1,967 sqft |
2023-07-01 | 0 days | 1,963 sqft |
2023-08-01 | 0 days | 1,956 sqft |
2023-09-01 | 0 days | 1,934 sqft |
2023-10-01 | 0 days | 1,971 sqft |
Magnolia's median square footage for active listings during the 2023-10-01 period was 1,971 sqft. One year prior, the average listing was 2,062 sqft.