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%.

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 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. Louis
Date 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 for 2023-10-01 was $219,975, a difference of $24,975 (12.8%) versus the prior year and $75 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2023-10-01 was 0 days.

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.