Miami USDA Loan Rates, Closing Costs & Stats

Miami, OK

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Miami's 12 lenders originated 25 USDA loans during 2023. The total origination value was $3,185,000, with an average USDA loan value of $127,400.

    Miami USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Miami averaged 7.24% for the week of 2024-05-03, compared to the national average (all USDA variants) of 6.892% for the same period.

    Miami's average USDA mortgage closing costs are $4,256.

    The average rate for the prior week (2024-04-26) was 6.99% and one month ago for the week of 2024-03-29, the average rate was 6.64%.

    The average rate one year ago was 6.47%.

    For refis of the same type during the week of 2024-05-03, the average rate was 7.09%.

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

    Miami 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 Miami level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FLAT BRANCH MORTGAGE, INC. 11 7.13% $5,710
    Chickasaw Community Bank 3 6.88% $4,756
    GENEVA FINANCIAL, LLC 2 7.38% $9,582
    Mortgage Investment Services Corporation 1 8.25% $4,676
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.25% $5,886
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $7,754
    TOWNE MORTGAGE COMPANY 1 6.63% $7,640
    UNION HOME MORTGAGE CORP. 1 6.50% $5,748
    AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $9,869
    UNITED WHOLESALE MORTGAGE, LLC 1 6.40% $5,324
    Arvest Bank 1 6.00% $3,580
    BancFirst 1 6.50% $5,860

    The top Miami USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 11 USDA loans originated. Their average total fees are $5,710, which is $954 higher than the next largest lender, Chickasaw Community Bank.

    The lowest fee Miami USDA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. ($5,710), .

    The lowest rate Miami USDA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. (7.13%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Miami (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 $84,250 (6.0%) $109,558 (-9.8%) 0.00 168
    2018-02-01 $83,750 (4.8%) $110,865 (-8.0%) 0.00 171
    2018-03-01 $88,750 (11.0%) $113,289 (-2.9%) 0.00 171
    2018-04-01 $86,875 (8.6%) $109,927 (-7.2%) 0.00 179
    2018-05-01 $85,850 (7.5%) $111,399 (-8.2%) 0.00 185
    2018-06-01 $80,450 (-2.5%) $108,179 (-13.5%) 0.00 188
    2018-07-01 $81,700 (-1.6%) $112,716 (-10.4%) 0.00 179
    2018-08-01 $82,675 (-7.1%) $113,175 (-12.7%) 0.00 166
    2018-09-01 $80,000 (-5.6%) $116,587 (-5.3%) 0.00 170
    2018-10-01 $82,900 (-0.1%) $114,493 (-5.9%) 0.00 172
    2018-11-01 $84,550 (-2.0%) $114,805 (2.2%) 0.00 169
    2018-12-01 $84,900 (-0.1%) $113,983 (3.2%) 0.00 160
    2019-01-01 $82,475 (-2.1%) $114,172 (4.2%) 0.00 141
    2019-02-01 $84,900 (1.4%) $114,907 (3.7%) 0.00 134
    2019-03-01 $86,421 (-2.6%) $116,888 (3.2%) 0.00 126
    2019-04-01 $88,725 (2.1%) $118,681 (8.0%) 0.00 117
    2019-05-01 $88,300 (2.9%) $130,139 (16.8%) 0.00 116
    2019-06-01 $87,900 (9.3%) $126,243 (16.7%) 0.00 114
    2019-07-01 $89,800 (9.9%) $130,043 (15.4%) 0.00 117
    2019-08-01 $88,673 (7.3%) $126,234 (11.5%) 0.00 125
    2019-09-01 $86,832 (8.5%) $121,229 (4.0%) 0.00 130
    2019-10-01 $85,755 (3.4%) $118,593 (3.6%) 0.00 134
    2019-11-01 $83,500 (-1.2%) $114,666 (-0.1%) 0.00 126
    2019-12-01 $79,950 (-5.8%) $114,448 (0.4%) 0.00 122
    2020-01-01 $79,900 (-3.1%) $117,721 (3.1%) 0.00 116
    2020-02-01 $79,700 (-6.1%) $110,485 (-3.9%) 0.00 116
    2020-03-01 $72,363 (-16.3%) $108,304 (-7.3%) 0.00 113
    2020-04-01 $74,875 (-15.6%) $111,503 (-6.1%) 0.00 106
    2020-05-01 $75,000 (-15.1%) $117,583 (-9.7%) 0.00 107
    2020-06-01 $77,550 (-11.8%) $129,465 (2.6%) 0.00 95
    2020-07-01 $82,850 (-7.7%) $119,626 (-8.0%) 0.00 86
    2020-08-01 $87,339 (-1.5%) $121,112 (-4.1%) 0.00 95
    2020-09-01 $105,000 (20.9%) $132,880 (9.6%) 0.00 85
    2020-10-01 $102,500 (19.5%) $136,355 (15.0%) 0.00 73
    2020-11-01 $104,875 (25.6%) $132,942 (15.9%) 0.00 76
    2020-12-01 $107,500 (34.5%) $137,489 (20.1%) 0.00 62
    2021-01-01 $99,950 (25.1%) $135,378 (15.0%) 0.00 59
    2021-02-01 $84,950 (6.6%) $125,946 (14.0%) 0.00 57
    2021-03-01 $84,700 (17.1%) $132,968 (22.8%) 0.00 56
    2021-04-01 $81,350 (8.7%) $154,044 (38.2%) 0.00 60
    2021-05-01 $84,750 (13.0%) $129,717 (10.3%) 0.00 59
    2021-06-01 $79,600 (2.6%) $130,550 (0.8%) 0.00 67
    2021-07-01 $82,450 (-0.5%) $137,103 (14.6%) 0.00 67
    2021-08-01 $92,000 (5.3%) $145,555 (20.2%) 0.00 64
    2021-09-01 $83,475 (-20.5%) $143,555 (8.0%) 0.00 67
    2021-10-01 $84,900 (-17.2%) $151,787 (11.3%) 0.00 64
    2021-11-01 $88,725 (-15.4%) $166,114 (25.0%) 0.00 66
    2021-12-01 $79,225 (-26.3%) $146,196 (6.3%) 0.00 72
    2022-01-01 $89,000 (-11.0%) $153,578 (13.4%) 0.00 72
    2022-02-01 $85,925 (1.2%) $162,036 (28.7%) 0.00 54
    2022-03-01 $79,900 (-5.7%) $149,586 (12.5%) 0.00 61
    2022-04-01 $79,900 (-1.8%) $132,404 (-14.1%) 0.00 60
    2022-05-01 $86,250 (1.8%) $122,167 (-5.8%) 0.00 59
    2022-06-01 $109,925 (38.1%) $196,275 (50.3%) 0.00 53
    2022-07-01 $119,900 (45.4%) $212,087 (54.7%) 0.00 57
    2022-08-01 $119,950 (30.4%) $205,857 (41.4%) 0.00 58
    2022-09-01 $129,950 (55.7%) $195,988 (36.5%) 0.00 63
    2022-10-01 $141,200 (66.3%) $200,323 (32.0%) 0.00 59
    2022-11-01 $131,500 (48.2%) $194,113 (16.9%) 0.00 54
    2022-12-01 $126,450 (59.6%) $195,048 (33.4%) 0.00 53
    2023-01-01 $130,900 (47.1%) $179,462 (16.9%) 0.00 54
    2023-02-01 $126,200 (46.9%) $177,787 (9.7%) 0.00 50
    2023-03-01 $146,675 (83.6%) $201,159 (34.5%) 0.00 46
    2023-04-01 $147,000 (84.0%) $215,531 (62.8%) 0.00 48
    2023-05-01 $131,150 (52.1%) $192,266 (57.4%) 0.00 58
    2023-06-01 $124,725 (13.5%) $159,296 (-18.8%) 0.00 62
    2023-07-01 $121,450 (1.3%) $161,587 (-23.8%) 0.00 53
    2023-08-01 $136,500 (13.8%) $160,755 (-21.9%) 0.00 44
    2023-09-01 $135,000 (3.9%) $174,733 (-10.8%) 0.00 54
    2023-10-01 $150,725 (6.8%) $277,164 (38.4%) 0.00 67
    2023-11-01 $152,000 (15.6%) $277,285 (42.9%) 0.00 62
    2023-12-01 $145,000 (14.7%) $278,889 (43.0%) 0.00 63
    2024-01-01 $149,825 (14.5%) $272,698 (52.0%) 0.00 61
    2024-02-01 $154,175 (22.2%) $301,369 (69.5%) 0.00 58
    2024-03-01 $155,000 (5.7%) $319,853 (59.0%) 0.00 52
    2024-04-01 $149,950 (2.0%) $331,751 (53.9%) 0.00 52
    Miami's median listing price for 2024-04-01 was $149,950, a difference of $2,950 (2.0%) versus the prior year and $-5,050 versus the prior month.

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

    Miami's average listing price for 2024-04-01 was $331,751, a difference of $116,220 (53.9%) versus the prior year and $11,898 versus the prior month.

    For the 2024-04-01 period, Miami had 52 MLS listings, a difference of 0 listings (0%) versus the prior month and 4 listings (8%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Miami (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,421 sqft
    2018-02-01 0 days 1,416 sqft
    2018-03-01 0 days 1,434 sqft
    2018-04-01 0 days 1,404 sqft
    2018-05-01 0 days 1,426 sqft
    2018-06-01 0 days 1,450 sqft
    2018-07-01 0 days 1,475 sqft
    2018-08-01 0 days 1,479 sqft
    2018-09-01 0 days 1,492 sqft
    2018-10-01 0 days 1,477 sqft
    2018-11-01 0 days 1,484 sqft
    2018-12-01 0 days 1,468 sqft
    2019-01-01 0 days 1,443 sqft
    2019-02-01 0 days 1,484 sqft
    2019-03-01 0 days 1,561 sqft
    2019-04-01 0 days 1,544 sqft
    2019-05-01 0 days 1,599 sqft
    2019-06-01 0 days 1,600 sqft
    2019-07-01 0 days 1,600 sqft
    2019-08-01 0 days 1,565 sqft
    2019-09-01 0 days 1,513 sqft
    2019-10-01 0 days 1,478 sqft
    2019-11-01 0 days 1,465 sqft
    2019-12-01 0 days 1,459 sqft
    2020-01-01 0 days 1,433 sqft
    2020-02-01 0 days 1,381 sqft
    2020-03-01 0 days 1,366 sqft
    2020-04-01 0 days 1,398 sqft
    2020-05-01 0 days 1,422 sqft
    2020-06-01 0 days 1,437 sqft
    2020-07-01 0 days 1,410 sqft
    2020-08-01 0 days 1,521 sqft
    2020-09-01 0 days 1,588 sqft
    2020-10-01 0 days 1,498 sqft
    2020-11-01 0 days 1,598 sqft
    2020-12-01 0 days 1,595 sqft
    2021-01-01 0 days 1,483 sqft
    2021-02-01 0 days 1,413 sqft
    2021-03-01 0 days 1,448 sqft
    2021-04-01 0 days 1,390 sqft
    2021-05-01 0 days 1,299 sqft
    2021-06-01 0 days 1,232 sqft
    2021-07-01 0 days 1,344 sqft
    2021-08-01 0 days 1,423 sqft
    2021-09-01 0 days 1,349 sqft
    2021-10-01 0 days 1,350 sqft
    2021-11-01 0 days 1,435 sqft
    2021-12-01 0 days 1,389 sqft
    2022-01-01 0 days 1,430 sqft
    2022-02-01 0 days 1,440 sqft
    2022-03-01 0 days 1,350 sqft
    2022-04-01 0 days 1,346 sqft
    2022-05-01 0 days 1,344 sqft
    2022-06-01 0 days 1,544 sqft
    2022-07-01 0 days 1,620 sqft
    2022-08-01 0 days 1,623 sqft
    2022-09-01 0 days 1,606 sqft
    2022-10-01 0 days 1,682 sqft
    2022-11-01 0 days 1,627 sqft
    2022-12-01 0 days 1,591 sqft
    2023-01-01 0 days 1,583 sqft
    2023-02-01 0 days 1,573 sqft
    2023-03-01 0 days 1,558 sqft
    2023-04-01 0 days 1,422 sqft
    2023-05-01 0 days 1,355 sqft
    2023-06-01 0 days 1,308 sqft
    2023-07-01 0 days 1,338 sqft
    2023-08-01 0 days 1,389 sqft
    2023-09-01 0 days 1,402 sqft
    2023-10-01 0 days 1,476 sqft
    2023-11-01 0 days 1,495 sqft
    2023-12-01 0 days 1,510 sqft
    2024-01-01 0 days 1,511 sqft
    2024-02-01 0 days 1,497 sqft
    2024-03-01 0 days 1,650 sqft
    2024-04-01 0 days 1,657 sqft
    Miami's median listing age (time on market) for 2024-04-01 was 0 days.

    Miami's median square footage for active listings during the 2024-04-01 period was 1,657 sqft. One year prior, the average listing was 1,422 sqft.