Mason City USDA Loan Rates, Closing Costs & Stats

Mason City, IA

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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.

    Mason City's 3 lenders originated 6 USDA loans during 2023. The total origination value was $550,000, with an average USDA loan value of $91,667.

    Mason City USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Mason City averaged 6.68% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Mason City's average USDA mortgage closing costs are $4,390.

    The average rate for the prior week (2024-04-12) was 6.63% and one month ago for the week of 2024-03-15, the average rate was 6.52%.

    The average rate one year ago was 6.46%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

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

    Mason City 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 Mason City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    IOWA BANKERS MORTGAGE CORPORATION 2 6.50% $3,197
    Plains Commerce Bank 2 6.13% $3,866
    Flanagan State Bank 1 6.63% $5,898

    The top Mason City USDA lender as defined by loan originations is IOWA BANKERS MORTGAGE CORPORATION, with 2 USDA loans originated. Their average total fees are $3,197, which is $669 lower than the next largest lender, Plains Commerce Bank.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Mason City (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 $135,450 (4.2%) $195,274 (5.3%) 0.00 262
    2018-02-01 $139,900 (0.0%) $197,527 (-0.7%) 0.00 277
    2018-03-01 $144,985 (2.7%) $211,988 (5.6%) 0.00 268
    2018-04-01 $144,703 (-0.1%) $216,359 (4.7%) 0.00 288
    2018-05-01 $152,425 (2.8%) $230,640 (8.3%) 0.00 315
    2018-06-01 $149,900 (0.2%) $236,614 (10.6%) 0.00 346
    2018-07-01 $148,825 (1.2%) $229,871 (11.0%) 0.00 348
    2018-08-01 $147,225 (2.8%) $225,338 (14.0%) 0.00 351
    2018-09-01 $143,233 (4.6%) $215,033 (8.5%) 0.00 348
    2018-10-01 $147,912 (11.5%) $210,646 (8.7%) 0.00 349
    2018-11-01 $145,000 (7.4%) $207,901 (6.4%) 0.00 342
    2018-12-01 $139,900 (3.6%) $201,773 (1.3%) 0.00 303
    2019-01-01 $140,950 (4.1%) $204,863 (4.9%) 0.00 290
    2019-02-01 $147,250 (5.3%) $206,726 (4.7%) 0.00 296
    2019-03-01 $152,086 (4.9%) $210,884 (-0.5%) 0.00 305
    2019-04-01 $154,893 (7.0%) $216,666 (0.1%) 0.00 323
    2019-05-01 $159,900 (4.9%) $225,348 (-2.3%) 0.00 347
    2019-06-01 $170,000 (13.4%) $236,573 (0.0%) 0.00 352
    2019-07-01 $169,433 (13.9%) $223,249 (-2.9%) 0.00 400
    2019-08-01 $169,463 (15.1%) $222,898 (-1.1%) 0.00 400
    2019-09-01 $169,062 (18.0%) $222,111 (3.3%) 0.00 393
    2019-10-01 $168,325 (13.8%) $220,944 (4.9%) 0.00 389
    2019-11-01 $159,900 (10.3%) $212,501 (2.2%) 0.00 384
    2019-12-01 $156,850 (12.1%) $204,654 (1.4%) 0.00 336
    2020-01-01 $161,475 (14.6%) $210,105 (2.6%) 0.00 299
    2020-02-01 $161,050 (9.4%) $208,286 (0.8%) 0.00 324
    2020-03-01 $159,825 (5.1%) $204,677 (-2.9%) 0.00 318
    2020-04-01 $162,302 (4.8%) $214,532 (-1.0%) 0.00 291
    2020-05-01 $174,000 (8.8%) $221,637 (-1.7%) 0.00 304
    2020-06-01 $169,600 (-0.2%) $224,129 (-5.3%) 0.00 305
    2020-07-01 $171,750 (1.4%) $223,763 (0.2%) 0.00 262
    2020-08-01 $175,000 (3.3%) $233,075 (4.6%) 0.00 224
    2020-09-01 $173,225 (2.5%) $224,378 (1.0%) 0.00 217
    2020-10-01 $149,625 (-11.1%) $205,505 (-7.0%) 0.00 197
    2020-11-01 $141,700 (-11.4%) $199,662 (-6.0%) 0.00 197
    2020-12-01 $136,675 (-12.9%) $191,523 (-6.4%) 0.00 191
    2021-01-01 $148,600 (-8.0%) $201,710 (-4.0%) 0.00 174
    2021-02-01 $163,000 (1.2%) $206,742 (-0.7%) 0.00 141
    2021-03-01 $174,750 (9.3%) $225,378 (10.1%) 0.00 133
    2021-04-01 $202,600 (24.8%) $245,512 (14.4%) 0.00 145
    2021-05-01 $214,500 (23.3%) $274,114 (23.7%) 0.00 153
    2021-06-01 $191,150 (12.7%) $249,409 (11.3%) 0.00 168
    2021-07-01 $175,000 (1.9%) $232,759 (4.0%) 0.00 185
    2021-08-01 $170,625 (-2.5%) $228,246 (-2.1%) 0.00 189
    2021-09-01 $173,750 (0.3%) $239,297 (6.7%) 0.00 169
    2021-10-01 $162,500 (8.6%) $204,620 (-0.4%) 0.00 181
    2021-11-01 $149,650 (5.6%) $194,226 (-2.7%) 0.00 160
    2021-12-01 $147,000 (7.6%) $193,862 (1.2%) 0.00 157
    2022-01-01 $158,250 (6.5%) $199,443 (-1.1%) 0.00 140
    2022-02-01 $144,395 (-11.4%) $193,699 (-6.3%) 0.00 122
    2022-03-01 $138,400 (-20.8%) $190,776 (-15.4%) 0.00 112
    2022-04-01 $162,500 (-19.8%) $208,594 (-15.0%) 0.00 113
    2022-05-01 $211,500 (-1.4%) $284,541 (3.8%) 0.00 109
    2022-06-01 $228,000 (19.3%) $298,010 (19.5%) 0.00 119
    2022-07-01 $215,000 (22.9%) $310,594 (33.4%) 0.00 135
    2022-08-01 $215,000 (26.0%) $332,328 (45.6%) 0.00 141
    2022-09-01 $225,000 (29.5%) $351,072 (46.7%) 0.00 133
    2022-10-01 $234,900 (44.6%) $356,633 (74.3%) 0.00 140
    2022-11-01 $232,400 (55.3%) $354,378 (82.5%) 0.00 152
    2022-12-01 $247,450 (68.3%) $356,642 (84.0%) 0.00 138
    2023-01-01 $233,575 (47.6%) $336,432 (68.7%) 0.00 124
    2023-02-01 $249,900 (73.1%) $356,907 (84.3%) 0.00 127
    2023-03-01 $249,900 (80.6%) $374,087 (96.1%) 0.00 114
    2023-04-01 $247,450 (52.3%) $370,824 (77.8%) 0.00 109
    2023-05-01 $251,250 (18.8%) $371,136 (30.4%) 0.00 122
    2023-06-01 $257,500 (12.9%) $425,525 (42.8%) 0.00 116
    2023-07-01 $277,400 (29.0%) $444,878 (43.2%) 0.00 114
    2023-08-01 $290,475 (35.1%) $449,037 (35.1%) 0.00 105
    2023-09-01 $225,000 (0.0%) $384,022 (9.4%) 0.00 124
    2023-10-01 $229,725 (-2.2%) $353,802 (-0.8%) 0.00 143
    2023-11-01 $219,750 (-5.4%) $316,106 (-10.8%) 0.00 135
    2023-12-01 $220,000 (-11.1%) $311,034 (-12.8%) 0.00 129
    2024-01-01 $222,475 (-4.8%) $318,470 (-5.3%) 0.00 123
    2024-02-01 $216,225 (-13.5%) $306,318 (-14.2%) 0.00 136
    2024-03-01 $225,000 (-10.0%) $321,093 (-14.2%) 0.00 148
    Mason City's median listing price for 2024-03-01 was $225,000, a difference of $-24,900 (-10.0%) versus the prior year and $8,775 versus the prior month.

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

    Mason City's average listing price for 2024-03-01 was $321,093, a difference of $-52,994 (-14.2%) versus the prior year and $14,775 versus the prior month.

    For the 2024-03-01 period, Mason City had 148 MLS listings, a difference of 12 listings (9%) versus the prior month and 34 listings (30%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Mason City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,911 sqft
    2018-02-01 0 days 1,927 sqft
    2018-03-01 0 days 1,962 sqft
    2018-04-01 0 days 1,968 sqft
    2018-05-01 0 days 1,998 sqft
    2018-06-01 0 days 1,996 sqft
    2018-07-01 0 days 1,967 sqft
    2018-08-01 0 days 2,000 sqft
    2018-09-01 0 days 1,968 sqft
    2018-10-01 0 days 1,972 sqft
    2018-11-01 0 days 2,002 sqft
    2018-12-01 0 days 1,968 sqft
    2019-01-01 0 days 1,987 sqft
    2019-02-01 0 days 1,989 sqft
    2019-03-01 0 days 2,047 sqft
    2019-04-01 0 days 2,125 sqft
    2019-05-01 0 days 2,146 sqft
    2019-06-01 0 days 2,138 sqft
    2019-07-01 0 days 2,035 sqft
    2019-08-01 0 days 2,020 sqft
    2019-09-01 0 days 2,009 sqft
    2019-10-01 0 days 2,000 sqft
    2019-11-01 0 days 2,001 sqft
    2019-12-01 0 days 1,976 sqft
    2020-01-01 0 days 1,996 sqft
    2020-02-01 0 days 1,944 sqft
    2020-03-01 0 days 1,944 sqft
    2020-04-01 0 days 1,976 sqft
    2020-05-01 0 days 1,976 sqft
    2020-06-01 0 days 1,944 sqft
    2020-07-01 0 days 1,984 sqft
    2020-08-01 0 days 1,994 sqft
    2020-09-01 0 days 1,952 sqft
    2020-10-01 0 days 1,905 sqft
    2020-11-01 0 days 1,910 sqft
    2020-12-01 0 days 1,870 sqft
    2021-01-01 0 days 1,876 sqft
    2021-02-01 0 days 1,895 sqft
    2021-03-01 0 days 1,880 sqft
    2021-04-01 0 days 1,779 sqft
    2021-05-01 0 days 1,833 sqft
    2021-06-01 0 days 1,820 sqft
    2021-07-01 0 days 1,860 sqft
    2021-08-01 0 days 1,881 sqft
    2021-09-01 0 days 1,872 sqft
    2021-10-01 0 days 1,874 sqft
    2021-11-01 0 days 1,886 sqft
    2021-12-01 0 days 1,890 sqft
    2022-01-01 0 days 1,900 sqft
    2022-02-01 0 days 1,838 sqft
    2022-03-01 0 days 1,888 sqft
    2022-04-01 0 days 1,790 sqft
    2022-05-01 0 days 1,912 sqft
    2022-06-01 0 days 1,960 sqft
    2022-07-01 0 days 1,975 sqft
    2022-08-01 0 days 1,963 sqft
    2022-09-01 0 days 1,975 sqft
    2022-10-01 0 days 1,911 sqft
    2022-11-01 0 days 1,982 sqft
    2022-12-01 0 days 2,003 sqft
    2023-01-01 0 days 2,042 sqft
    2023-02-01 0 days 2,023 sqft
    2023-03-01 0 days 1,872 sqft
    2023-04-01 0 days 1,851 sqft
    2023-05-01 0 days 1,903 sqft
    2023-06-01 0 days 2,056 sqft
    2023-07-01 0 days 2,138 sqft
    2023-08-01 0 days 2,118 sqft
    2023-09-01 0 days 2,024 sqft
    2023-10-01 0 days 1,944 sqft
    2023-11-01 0 days 2,020 sqft
    2023-12-01 0 days 2,022 sqft
    2024-01-01 0 days 2,030 sqft
    2024-02-01 0 days 1,935 sqft
    2024-03-01 0 days 1,923 sqft
    Mason City's median listing age (time on market) for 2024-03-01 was 0 days.

    Mason City's median square footage for active listings during the 2024-03-01 period was 1,923 sqft. One year prior, the average listing was 1,872 sqft.