Mason City USDA Loan Rates, Closing Costs & Stats
Mason City, IA
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
6.22%
for the week of 2024-12-13, compared to the national average (all USDA variants) of
6.303% for the same period.
Mason City's average USDA mortgage closing costs are $4,390.
The average rate for the prior week (2024-12-06) was
6.26% and
one month ago for the week of 2024-11-08, the
average rate was 6.27%.
The average rate one year ago was 6.64%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.5%.
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 |
| 2024-04-01 | $239,450 (-3.2%) | $365,233 (-1.5%) | 0.00 | 159 |
| 2024-05-01 | $299,888 (19.4%) | $396,069 (6.7%) | 0.00 | 183 |
| 2024-06-01 | $289,000 (12.2%) | $393,175 (-7.6%) | 0.00 | 209 |
| 2024-07-01 | $299,913 (8.1%) | $394,051 (-11.4%) | 0.00 | 207 |
| 2024-08-01 | $299,900 (3.2%) | $391,269 (-12.9%) | 0.00 | 212 |
| 2024-09-01 | $299,450 (33.1%) | $383,318 (-0.2%) | 0.00 | 215 |
| 2024-10-01 | $266,225 (15.9%) | $352,910 (-0.3%) | 0.00 | 261 |
| 2024-11-01 | $272,400 (24.0%) | $344,582 (9.0%) | 0.00 | 257 |
Mason City's median listing price comes in at 0% of the national average.
Mason City's average listing price for 2024-11-01 was $344,582, a difference of $28,476 (9.0%) versus the prior year and $-8,328 versus the prior month.
For the 2024-11-01 period, Mason City had 257 MLS listings, a difference of -4 listings (-2%) versus the prior month and 122 listings (90%) 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 |
| 2024-04-01 | 0 days | 1,879 sqft |
| 2024-05-01 | 0 days | 1,975 sqft |
| 2024-06-01 | 0 days | 2,028 sqft |
| 2024-07-01 | 0 days | 2,025 sqft |
| 2024-08-01 | 0 days | 2,060 sqft |
| 2024-09-01 | 0 days | 2,027 sqft |
| 2024-10-01 | 0 days | 1,873 sqft |
| 2024-11-01 | 0 days | 1,920 sqft |
Mason City's median square footage for active listings during the 2024-11-01 period was 1,920 sqft. One year prior, the average listing was 2,020 sqft.