Mankato USDA Loan Rates, Closing Costs & Stats

MANKATO, MN

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    • 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.

    Mankato's 3 lenders originated 5 USDA loans during 2024. The total origination value was $16,155,000, with an average USDA loan value of $3,231,000.

    Mankato USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Mankato averaged 6.59% for the week of 2025-07-11, compared to the national average (all USDA variants) of 6.449% for the same period.

    Mankato's average USDA mortgage closing costs are $4,927.

    The average rate for the prior week (2025-07-04) was 6.5% and one month ago for the week of 2025-06-06, the average rate was 6.9%.

    The average rate one year ago was 6.78%.

    For refis of the same type during the week of 2025-07-11, the average rate was 6.25%.

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

    Mankato 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 Mankato level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Bremer Bank 1 6.88% $6,683
    CROSSCOUNTRY MORTGAGE, LLC 1 6.88% $7,536
    PLAZA HOME MORTGAGE, INC. 1 7.25% $4,311

    The top Mankato USDA lender as defined by loan originations is Bremer Bank, with 1 USDA loans originated. Their average total fees are $6,683, which is $853 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Mankato USDA lenders (with over 10 loans originated) are .

    The lowest rate Mankato USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Mankato (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 $229,900 (15.7%) $286,261 (18.2%) 0.00 225
    2018-02-01 $237,800 (22.0%) $287,153 (19.6%) 0.00 220
    2018-03-01 $239,700 (17.9%) $298,028 (23.2%) 0.00 234
    2018-04-01 $240,450 (14.7%) $297,579 (17.1%) 0.00 260
    2018-05-01 $244,400 (11.4%) $296,169 (11.3%) 0.00 281
    2018-06-01 $249,900 (13.5%) $298,767 (10.6%) 0.00 300
    2018-07-01 $244,925 (7.6%) $292,969 (7.2%) 0.00 320
    2018-08-01 $247,225 (7.7%) $290,053 (5.8%) 0.00 338
    2018-09-01 $235,400 (0.2%) $281,456 (0.6%) 0.00 357
    2018-10-01 $240,575 (4.8%) $278,034 (-0.4%) 0.00 359
    2018-11-01 $243,075 (6.3%) $277,367 (-0.3%) 0.00 335
    2018-12-01 $242,900 (6.7%) $277,448 (-2.3%) 0.00 285
    2019-01-01 $248,650 (8.2%) $285,562 (-0.2%) 0.00 257
    2019-02-01 $249,900 (5.1%) $292,625 (1.9%) 0.00 251
    2019-03-01 $254,014 (6.0%) $295,521 (-0.8%) 0.00 262
    2019-04-01 $258,814 (7.6%) $297,913 (0.1%) 0.00 274
    2019-05-01 $257,425 (5.3%) $296,031 (-0.1%) 0.00 315
    2019-06-01 $259,900 (4.0%) $298,399 (-0.1%) 0.00 332
    2019-07-01 $259,900 (6.1%) $297,404 (1.5%) 0.00 335
    2019-08-01 $255,736 (3.4%) $294,196 (1.4%) 0.00 351
    2019-09-01 $256,841 (9.1%) $291,105 (3.4%) 0.00 356
    2019-10-01 $258,800 (7.6%) $289,299 (4.1%) 0.00 359
    2019-11-01 $258,000 (6.1%) $289,071 (4.2%) 0.00 326
    2019-12-01 $255,650 (5.3%) $287,846 (3.8%) 0.00 277
    2020-01-01 $255,925 (2.9%) $284,611 (-0.3%) 0.00 253
    2020-02-01 $269,900 (8.0%) $294,786 (0.7%) 0.00 235
    2020-03-01 $277,450 (9.2%) $311,970 (5.6%) 0.00 261
    2020-04-01 $278,950 (7.8%) $313,710 (5.3%) 0.00 267
    2020-05-01 $299,000 (16.2%) $324,984 (9.8%) 0.00 269
    2020-06-01 $299,900 (15.4%) $331,417 (11.1%) 0.00 242
    2020-07-01 $298,050 (14.7%) $332,730 (11.9%) 0.00 205
    2020-08-01 $290,950 (13.8%) $336,825 (14.5%) 0.00 204
    2020-09-01 $282,225 (9.9%) $335,209 (15.2%) 0.00 195
    2020-10-01 $267,900 (3.5%) $316,434 (9.4%) 0.00 198
    2020-11-01 $253,650 (-1.7%) $308,550 (6.7%) 0.00 156
    2020-12-01 $256,200 (0.2%) $306,229 (6.4%) 0.00 139
    2021-01-01 $250,000 (-2.3%) $316,392 (11.2%) 0.00 100
    2021-02-01 $269,400 (-0.2%) $321,330 (9.0%) 0.00 86
    2021-03-01 $280,675 (1.2%) $329,846 (5.7%) 0.00 91
    2021-04-01 $283,650 (1.7%) $340,400 (8.5%) 0.00 104
    2021-05-01 $289,450 (-3.2%) $345,202 (6.2%) 0.00 92
    2021-06-01 $279,950 (-6.7%) $337,050 (1.7%) 0.00 110
    2021-07-01 $257,200 (-13.7%) $330,055 (-0.8%) 0.00 122
    2021-08-01 $262,450 (-9.8%) $328,269 (-2.5%) 0.00 144
    2021-09-01 $264,950 (-6.1%) $325,235 (-3.0%) 0.00 147
    2021-10-01 $269,900 (0.8%) $328,815 (3.9%) 0.00 149
    2021-11-01 $272,400 (7.4%) $341,385 (10.6%) 0.00 142
    2021-12-01 $295,225 (15.2%) $352,180 (15.0%) 0.00 113
    2022-01-01 $309,400 (23.8%) $359,819 (13.7%) 0.00 94
    2022-02-01 $317,425 (17.8%) $426,190 (32.6%) 0.00 80
    2022-03-01 $282,475 (0.6%) $377,063 (14.3%) 0.00 73
    2022-04-01 $279,900 (-1.3%) $334,835 (-1.6%) 0.00 87
    2022-05-01 $306,725 (6.0%) $360,771 (4.5%) 0.00 98
    2022-06-01 $319,900 (14.3%) $369,816 (9.7%) 0.00 136
    2022-07-01 $324,400 (26.1%) $369,288 (11.9%) 0.00 144
    2022-08-01 $324,675 (23.7%) $378,690 (15.4%) 0.00 145
    2022-09-01 $321,225 (21.2%) $373,725 (14.9%) 0.00 141
    2022-10-01 $319,000 (18.2%) $370,346 (12.6%) 0.00 145
    2022-11-01 $311,700 (14.4%) $363,350 (6.4%) 0.00 136
    2022-12-01 $337,400 (14.3%) $364,542 (3.5%) 0.00 123
    2023-01-01 $371,700 (20.1%) $384,880 (7.0%) 0.00 95
    2023-02-01 $384,900 (21.3%) $400,244 (-6.1%) 0.00 96
    2023-03-01 $399,900 (41.6%) $412,683 (9.5%) 0.00 85
    2023-04-01 $362,450 (29.5%) $403,194 (20.4%) 0.00 101
    2023-05-01 $359,900 (17.3%) $409,069 (13.4%) 0.00 126
    2023-06-01 $369,425 (15.5%) $413,627 (11.9%) 0.00 133
    2023-07-01 $369,900 (14.0%) $417,517 (13.1%) 0.00 134
    2023-08-01 $359,400 (10.7%) $401,825 (6.1%) 0.00 157
    2023-09-01 $349,900 (8.9%) $409,494 (9.6%) 0.00 165
    2023-10-01 $335,000 (5.0%) $379,913 (2.6%) 0.00 187
    2023-11-01 $336,950 (8.1%) $391,158 (7.7%) 0.00 181
    2023-12-01 $329,000 (-2.5%) $383,979 (5.3%) 0.00 154
    2024-01-01 $349,900 (-5.9%) $413,463 (7.4%) 0.00 132
    2024-02-01 $384,000 (-0.2%) $435,981 (8.9%) 0.00 115
    2024-03-01 $389,000 (-2.7%) $445,756 (8.0%) 0.00 122
    2024-04-01 $381,250 (5.2%) $434,651 (7.8%) 0.00 133
    2024-05-01 $387,000 (7.5%) $438,727 (7.3%) 0.00 130
    2024-06-01 $383,650 (3.9%) $438,056 (5.9%) 0.00 160
    2024-07-01 $379,950 (2.7%) $416,734 (-0.2%) 0.00 168
    2024-08-01 $377,200 (5.0%) $418,109 (4.1%) 0.00 185
    2024-09-01 $366,850 (4.8%) $414,287 (1.2%) 0.00 194
    2024-10-01 $359,750 (7.4%) $402,371 (5.9%) 0.00 205
    2024-11-01 $349,900 (3.8%) $393,406 (0.6%) 0.00 191
    2024-12-01 $351,150 (6.7%) $400,652 (4.3%) 0.00 182
    2025-01-01 $332,450 (-5.0%) $391,400 (-5.3%) 0.00 161
    2025-02-01 $348,650 (-9.2%) $400,943 (-8.0%) 0.00 148
    2025-03-01 $350,000 (-10.0%) $409,800 (-8.1%) 0.00 129
    2025-04-01 $370,425 (-2.8%) $415,158 (-4.5%) 0.00 155
    2025-05-01 $359,900 (-7.0%) $424,580 (-3.2%) 0.00 175
    2025-06-01 $368,450 (-4.0%) $414,596 (-5.4%) 0.00 201
    Mankato's median listing price for 2025-06-01 was $368,450, a difference of $-15,200 (-4.0%) versus the prior year and $8,550 versus the prior month.

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

    Mankato's average listing price for 2025-06-01 was $414,596, a difference of $-23,460 (-5.4%) versus the prior year and $-9,984 versus the prior month.

    For the 2025-06-01 period, Mankato had 201 MLS listings, a difference of 26 listings (15%) versus the prior month and 41 listings (26%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Mankato (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,136 sqft
    2018-02-01 0 days 2,094 sqft
    2018-03-01 0 days 2,128 sqft
    2018-04-01 0 days 2,153 sqft
    2018-05-01 0 days 2,139 sqft
    2018-06-01 0 days 2,139 sqft
    2018-07-01 0 days 2,112 sqft
    2018-08-01 0 days 2,136 sqft
    2018-09-01 0 days 2,101 sqft
    2018-10-01 0 days 2,093 sqft
    2018-11-01 0 days 2,096 sqft
    2018-12-01 0 days 2,099 sqft
    2019-01-01 0 days 2,155 sqft
    2019-02-01 0 days 2,146 sqft
    2019-03-01 0 days 2,124 sqft
    2019-04-01 0 days 2,158 sqft
    2019-05-01 0 days 2,143 sqft
    2019-06-01 0 days 2,185 sqft
    2019-07-01 0 days 2,244 sqft
    2019-08-01 0 days 2,180 sqft
    2019-09-01 0 days 2,167 sqft
    2019-10-01 0 days 2,157 sqft
    2019-11-01 0 days 2,151 sqft
    2019-12-01 0 days 2,094 sqft
    2020-01-01 0 days 2,018 sqft
    2020-02-01 0 days 2,142 sqft
    2020-03-01 0 days 2,245 sqft
    2020-04-01 0 days 2,220 sqft
    2020-05-01 0 days 2,292 sqft
    2020-06-01 0 days 2,567 sqft
    2020-07-01 0 days 2,635 sqft
    2020-08-01 0 days 2,699 sqft
    2020-09-01 0 days 2,625 sqft
    2020-10-01 0 days 2,504 sqft
    2020-11-01 0 days 2,490 sqft
    2020-12-01 0 days 2,481 sqft
    2021-01-01 0 days 2,478 sqft
    2021-02-01 0 days 2,387 sqft
    2021-03-01 0 days 2,451 sqft
    2021-04-01 0 days 2,439 sqft
    2021-05-01 0 days 2,473 sqft
    2021-06-01 0 days 2,420 sqft
    2021-07-01 0 days 2,365 sqft
    2021-08-01 0 days 2,301 sqft
    2021-09-01 0 days 2,257 sqft
    2021-10-01 0 days 2,326 sqft
    2021-11-01 0 days 2,322 sqft
    2021-12-01 0 days 2,350 sqft
    2022-01-01 0 days 2,355 sqft
    2022-02-01 0 days 2,334 sqft
    2022-03-01 0 days 2,221 sqft
    2022-04-01 0 days 2,196 sqft
    2022-05-01 0 days 2,350 sqft
    2022-06-01 0 days 2,345 sqft
    2022-07-01 0 days 2,347 sqft
    2022-08-01 0 days 2,416 sqft
    2022-09-01 0 days 2,363 sqft
    2022-10-01 0 days 2,369 sqft
    2022-11-01 0 days 2,387 sqft
    2022-12-01 0 days 2,346 sqft
    2023-01-01 0 days 2,367 sqft
    2023-02-01 0 days 2,416 sqft
    2023-03-01 0 days 2,487 sqft
    2023-04-01 0 days 2,408 sqft
    2023-05-01 0 days 2,454 sqft
    2023-06-01 0 days 2,410 sqft
    2023-07-01 0 days 2,456 sqft
    2023-08-01 0 days 2,520 sqft
    2023-09-01 0 days 2,503 sqft
    2023-10-01 0 days 2,462 sqft
    2023-11-01 0 days 2,499 sqft
    2023-12-01 0 days 2,424 sqft
    2024-01-01 0 days 2,332 sqft
    2024-02-01 0 days 2,449 sqft
    2024-03-01 0 days 2,482 sqft
    2024-04-01 0 days 2,412 sqft
    2024-05-01 0 days 2,446 sqft
    2024-06-01 0 days 2,576 sqft
    2024-07-01 0 days 2,650 sqft
    2024-08-01 0 days 2,640 sqft
    2024-09-01 0 days 2,690 sqft
    2024-10-01 0 days 2,580 sqft
    2024-11-01 0 days 2,416 sqft
    2024-12-01 0 days 2,395 sqft
    2025-01-01 0 days 2,329 sqft
    2025-02-01 0 days 2,386 sqft
    2025-03-01 0 days 2,445 sqft
    2025-04-01 0 days 2,518 sqft
    2025-05-01 0 days 2,520 sqft
    2025-06-01 0 days 2,451 sqft
    Mankato's median listing age (time on market) for 2025-06-01 was 0 days.

    Mankato's median square footage for active listings during the 2025-06-01 period was 2,451 sqft. One year prior, the average listing was 2,576 sqft.