Milwaukee USDA Loans

MILWAUKEE-WAUKESHA, WI

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.

Milwaukee's 15 lenders originated 27 USDA loans during 2021. The total origination value was $7,265,000, with an average USDA loan value of $269,074.

Milwaukee USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Milwaukee averaged 5.44% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.17% and one month ago for the week of 2022-04-08, the average rate was 4.74%.

The average rate one year ago was 3.15%.

For refis of the same type during the week of 2022-05-13, the average rate was 4.94%.

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

Milwaukee USDA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Milwaukee level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FIRST CENTENNIAL MORTGAGE CORPORATION 3 2.58% $4,503
INLANTA MORTGAGE, INC. 2 2.94% $4,965
Paramount Residential Mortgage Group, Inc. 2 2.69% $4,238
CHERRY CREEK MORTGAGE, LLC 2 3.06% $3,022
Flagstar Bank, FSB 2 2.63% $5,140
WISCONSIN MORTGAGE CORPORATION 2 2.75% $5,964
PARKSIDE LENDING, LLC 1 3.13% $4,650
UNITED WHOLESALE MORTGAGE, LLC 1 3.00% $3,686
Waterstone Mortgage Corporation 1 3.38% $8,198
GUARANTEED RATE, INC. 1 2.63% $4,752
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.99% $5,269
FINANCE OF AMERICA MORTGAGE LLC 1 3.38% $5,206
FREEDOM MORTGAGE CORPORATION 1 2.75% $2,742
American Mortgage & Equity Consultants, Inc. 1 3.25% $4,750
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.75% $5,989

The top Milwaukee USDA lender as defined by loan originations is FIRST CENTENNIAL MORTGAGE CORPORATION, with 3 USDA loans originated. Their average total fees are $4,503, which is $463 lower than the next largest lender, INLANTA MORTGAGE, INC..

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Milwaukee (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 $227,450 (13.8%) $332,879 (15.4%) 0.84 2,715
2018-02-01 $239,900 (15.7%) $351,925 (20.1%) 0.87 2,534
2018-03-01 $269,900 (22.9%) $372,739 (22.4%) 0.93 2,486
2018-04-01 $279,900 (21.8%) $384,167 (12.5%) 0.94 2,462
2018-05-01 $291,950 (19.2%) $392,143 (11.3%) 0.97 2,624
2018-06-01 $299,000 (19.7%) $402,056 (13.8%) 1.00 2,849
2018-07-01 $292,400 (19.4%) $391,142 (12.8%) 0.98 3,194
2018-08-01 $284,950 (18.8%) $380,201 (11.3%) 0.95 3,437
2018-09-01 $274,900 (17.0%) $374,106 (10.1%) 0.92 3,609
2018-10-01 $272,400 (18.5%) $371,473 (11.3%) 0.91 3,597
2018-11-01 $265,000 (16.3%) $364,054 (8.9%) 0.89 3,406
2018-12-01 $259,900 (18.2%) $356,967 (9.1%) 0.89 3,006
2019-01-01 $272,350 (19.7%) $364,804 (9.6%) 0.94 2,591
2019-02-01 $299,900 (25.0%) $391,246 (11.2%) 1.00 2,369
2019-03-01 $316,857 (17.4%) $401,730 (7.8%) 1.03 2,744
2019-04-01 $329,950 (17.9%) $415,240 (8.1%) 1.04 3,941
2019-05-01 $334,000 (14.4%) $426,005 (8.6%) 1.03 2,488
2019-06-01 $329,900 (10.3%) $421,219 (4.8%) 1.02 2,715
2019-07-01 $329,900 (12.8%) $424,316 (8.5%) 1.03 2,886
2019-08-01 $316,486 (11.1%) $409,584 (7.7%) 1.00 3,121
2019-09-01 $297,400 (8.2%) $390,372 (4.4%) 0.94 3,299
2019-10-01 $289,450 (6.3%) $383,152 (3.1%) 0.92 3,376
2019-11-01 $279,900 (5.6%) $376,032 (3.3%) 0.90 3,072
2019-12-01 $279,450 (7.5%) $373,401 (4.6%) 0.93 2,616
2020-01-01 $283,700 (4.2%) $378,513 (3.8%) 0.95 2,267
2020-02-01 $319,900 (6.7%) $408,200 (4.3%) 1.03 2,049
2020-03-01 $327,900 (3.5%) $419,298 (4.4%) 1.02 2,029
2020-04-01 $343,900 (4.2%) $415,959 (0.2%) 1.07 2,128
2020-05-01 $374,900 (12.3%) $446,277 (4.8%) 1.14 2,043
2020-06-01 $369,900 (12.1%) $441,882 (4.9%) 1.08 1,913
2020-07-01 $366,400 (11.1%) $448,719 (5.8%) 1.05 1,788
2020-08-01 $349,900 (10.6%) $438,179 (7.0%) 1.00 1,852
2020-09-01 $327,350 (10.1%) $428,768 (9.8%) 0.94 1,968
2020-10-01 $299,900 (3.6%) $402,805 (5.1%) 0.86 2,055
2020-11-01 $294,950 (5.4%) $402,764 (7.1%) 0.84 1,794
2020-12-01 $289,450 (3.6%) $402,747 (7.9%) 0.85 1,525
2021-01-01 $295,000 (4.0%) $406,957 (7.5%) 0.87 1,196
2021-02-01 $304,700 (-4.8%) $420,443 (3.0%) 0.88 989
2021-03-01 $302,500 (-7.8%) $417,257 (-0.5%) 0.85 946
2021-04-01 $314,900 (-8.4%) $425,184 (2.2%) 0.85 963
2021-05-01 $314,900 (-16.0%) $418,283 (-6.3%) 0.83 1,075
2021-06-01 $299,900 (-18.9%) $409,435 (-7.3%) 0.78 1,383
2021-07-01 $292,450 (-20.2%) $394,678 (-12.0%) 0.76 1,735
2021-08-01 $289,900 (-17.2%) $390,488 (-10.9%) 0.76 1,932
2021-09-01 $279,450 (-14.6%) $381,874 (-10.9%) 0.74 2,046
2021-10-01 $275,000 (-8.3%) $383,264 (-4.9%) 0.72 1,924
2021-11-01 $266,900 (-9.5%) $380,390 (-5.6%) 0.70 1,656
2021-12-01 $257,450 (-11.1%) $364,857 (-9.4%) 0.69 1,401
2022-01-01 $285,000 (-3.4%) $389,480 (-4.3%) 0.76 999
2022-02-01 $277,448 (-8.9%) $397,714 (-5.4%) 0.71 949
2022-03-01 $295,000 (-2.5%) $425,205 (1.9%) 0.73 902
2022-04-01 $334,900 (6.4%) $455,120 (7.0%) 0.79 962
Milwaukee's median listing price for 2022-04-01 was $334,900, a difference of $20,000 (6.4%) versus the prior year and $39,900 versus the prior month.

Milwaukee's median listing price comes in at 79% of the national average.

Milwaukee's average listing price for 2022-04-01 was $455,120, a difference of $29,936 (7.0%) versus the prior year and $29,915 versus the prior month.

For the 2022-04-01 period, Milwaukee had 962 MLS listings, a difference of 60 listings (7%) versus the prior month and -1 listings (0%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Milwaukee (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 84 days 1,690 sqft
2018-02-01 72 days 1,737 sqft
2018-03-01 45 days 1,811 sqft
2018-04-01 40 days 1,856 sqft
2018-05-01 39 days 1,897 sqft
2018-06-01 37 days 1,920 sqft
2018-07-01 43 days 1,871 sqft
2018-08-01 44 days 1,859 sqft
2018-09-01 45 days 1,832 sqft
2018-10-01 49 days 1,814 sqft
2018-11-01 54 days 1,800 sqft
2018-12-01 64 days 1,779 sqft
2019-01-01 74 days 1,800 sqft
2019-02-01 69 days 1,902 sqft
2019-03-01 54 days 1,956 sqft
2019-04-01 44 days 2,014 sqft
2019-05-01 43 days 2,065 sqft
2019-06-01 43 days 2,052 sqft
2019-07-01 43 days 2,043 sqft
2019-08-01 42 days 1,980 sqft
2019-09-01 44 days 1,905 sqft
2019-10-01 48 days 1,880 sqft
2019-11-01 56 days 1,816 sqft
2019-12-01 67 days 1,800 sqft
2020-01-01 72 days 1,794 sqft
2020-02-01 57 days 1,843 sqft
2020-03-01 44 days 1,898 sqft
2020-04-01 45 days 1,916 sqft
2020-05-01 51 days 2,011 sqft
2020-06-01 49 days 1,993 sqft
2020-07-01 47 days 1,989 sqft
2020-08-01 44 days 1,941 sqft
2020-09-01 41 days 1,839 sqft
2020-10-01 42 days 1,744 sqft
2020-11-01 47 days 1,690 sqft
2020-12-01 55 days 1,654 sqft
2021-01-01 62 days 1,644 sqft
2021-02-01 52 days 1,630 sqft
2021-03-01 46 days 1,641 sqft
2021-04-01 37 days 1,665 sqft
2021-05-01 35 days 1,746 sqft
2021-06-01 29 days 1,742 sqft
2021-07-01 29 days 1,692 sqft
2021-08-01 35 days 1,671 sqft
2021-09-01 37 days 1,662 sqft
2021-10-01 39 days 1,635 sqft
2021-11-01 45 days 1,601 sqft
2021-12-01 53 days 1,571 sqft
2022-01-01 59 days 1,610 sqft
2022-02-01 38 days 1,625 sqft
2022-03-01 40 days 1,654 sqft
2022-04-01 34 days 1,691 sqft
Milwaukee's median listing age (time on market) for 2022-04-01 was 34 days. This is -8% shorter than the same period one year ago.

Milwaukee's median square footage for active listings during the 2022-04-01 period was 1,691 sqft. One year prior, the average listing was 1,665 sqft.