Milwaukee USDA Loan Rates, Closing Costs & Stats

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 0.15% for the week of 2022-11-25, compared to the national average (all USDA variants) of 0% for the same period.

Milwaukee's average USDA mortgage closing costs are $4,664.

The average rate for the prior week (2022-11-18) was 6.7% and one month ago for the week of 2022-10-21, the average rate was 6.91%.

The average rate one year ago was 3.45%.

For refis of the same type during the week of 2022-11-25, the average rate was 0.05%.

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/closing costs 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. Closing Costs
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 $227,400 (13.8%) $330,669 (15.2%) 0.84 2,720
2018-02-01 $239,700 (17.5%) $351,391 (20.3%) 0.87 2,546
2018-03-01 $269,900 (23.3%) $371,001 (22.5%) 0.95 2,510
2018-04-01 $274,995 (19.6%) $380,187 (11.9%) 0.93 2,485
2018-05-01 $289,450 (18.2%) $388,878 (10.9%) 0.97 2,629
2018-06-01 $299,000 (19.7%) $401,056 (14.2%) 1.00 2,866
2018-07-01 $293,425 (21.3%) $389,479 (13.1%) 0.98 3,180
2018-08-01 $282,450 (17.7%) $378,642 (11.6%) 0.95 3,428
2018-09-01 $273,900 (17.8%) $373,707 (10.5%) 0.92 3,590
2018-10-01 $269,925 (17.4%) $369,607 (11.1%) 0.91 3,591
2018-11-01 $264,975 (17.3%) $363,812 (9.1%) 0.90 3,395
2018-12-01 $259,900 (18.2%) $355,938 (9.2%) 0.90 2,973
2019-01-01 $272,400 (19.8%) $365,158 (10.4%) 0.94 2,578
2019-02-01 $299,900 (25.1%) $389,224 (10.8%) 1.01 2,371
2019-03-01 $312,814 (15.9%) $402,091 (8.4%) 1.02 2,373
2019-04-01 $329,923 (20.0%) $414,518 (9.0%) 1.05 2,462
2019-05-01 $332,400 (14.8%) $422,425 (8.6%) 1.04 2,499
2019-06-01 $325,000 (8.7%) $417,500 (4.1%) 1.02 2,729
2019-07-01 $327,450 (11.6%) $420,911 (8.1%) 1.03 2,911
2019-08-01 $315,427 (11.7%) $408,509 (7.9%) 1.00 3,122
2019-09-01 $301,068 (9.9%) $394,545 (5.6%) 0.96 3,284
2019-10-01 $289,450 (7.2%) $381,703 (3.3%) 0.93 3,373
2019-11-01 $279,900 (5.6%) $371,248 (2.0%) 0.92 3,085
2019-12-01 $272,450 (4.8%) $367,075 (3.1%) 0.91 2,615
2020-01-01 $277,125 (1.7%) $371,139 (1.6%) 0.93 2,286
2020-02-01 $309,000 (3.0%) $400,565 (2.9%) 1.01 2,079
2020-03-01 $324,950 (3.9%) $414,757 (3.2%) 1.02 2,083
2020-04-01 $337,720 (2.4%) $412,128 (-0.6%) 1.06 2,144
2020-05-01 $369,900 (11.3%) $436,750 (3.4%) 1.12 2,084
2020-06-01 $364,975 (12.3%) $433,905 (3.9%) 1.07 1,969
2020-07-01 $353,648 (8.0%) $439,735 (4.5%) 1.03 1,843
2020-08-01 $339,995 (7.8%) $431,535 (5.6%) 0.97 1,910
2020-09-01 $322,400 (7.1%) $424,225 (7.5%) 0.92 2,014
2020-10-01 $299,000 (3.3%) $399,700 (4.7%) 0.86 2,046
2020-11-01 $289,900 (3.6%) $399,002 (7.5%) 0.85 1,828
2020-12-01 $288,925 (6.1%) $398,774 (8.6%) 0.86 1,538
2021-01-01 $289,900 (4.6%) $402,971 (8.6%) 0.87 1,234
2021-02-01 $302,450 (-2.1%) $415,068 (3.6%) 0.88 1,022
2021-03-01 $300,000 (-7.7%) $415,410 (0.2%) 0.85 1,006
2021-04-01 $314,900 (-6.8%) $425,461 (3.2%) 0.85 1,012
2021-05-01 $314,950 (-14.9%) $419,939 (-3.9%) 0.83 1,147
2021-06-01 $299,950 (-17.8%) $409,501 (-5.6%) 0.79 1,443
2021-07-01 $289,000 (-18.3%) $389,410 (-11.4%) 0.76 1,840
2021-08-01 $289,900 (-14.7%) $388,517 (-10.0%) 0.77 1,967
2021-09-01 $279,450 (-13.3%) $381,877 (-10.0%) 0.75 2,086
2021-10-01 $275,000 (-8.0%) $382,786 (-4.2%) 0.73 1,956
2021-11-01 $266,675 (-8.0%) $379,627 (-4.9%) 0.71 1,699
2021-12-01 $256,475 (-11.2%) $363,456 (-8.9%) 0.70 1,414
2022-01-01 $279,900 (-3.5%) $385,467 (-4.3%) 0.76 1,031
2022-02-01 $277,449 (-8.3%) $397,697 (-4.2%) 0.72 977
2022-03-01 $299,725 (-0.1%) $425,226 (2.4%) 0.75 946
2022-04-01 $329,900 (4.8%) $450,801 (6.0%) 0.79 1,021
2022-05-01 $361,200 (14.7%) $471,234 (12.2%) 0.83 1,126
2022-06-01 $369,950 (23.3%) $476,986 (16.5%) 0.82 1,385
2022-07-01 $359,900 (24.5%) $461,077 (18.4%) 0.81 1,685
2022-08-01 $362,450 (25.0%) $454,436 (17.0%) 0.84 1,738
2022-09-01 $354,950 (27.0%) $446,035 (16.8%) 0.83 1,689
2022-10-01 $369,900 (34.5%) $450,751 (17.8%) 0.87 1,768
Milwaukee's median listing price for 2022-10-01 was $369,900, a difference of $94,900 (34.5%) versus the prior year and $14,950 versus the prior month.

Milwaukee's median listing price comes in at 87% of the national average.

Milwaukee's average listing price for 2022-10-01 was $450,751, a difference of $67,965 (17.8%) versus the prior year and $4,716 versus the prior month.

For the 2022-10-01 period, Milwaukee had 1,768 MLS listings, a difference of 79 listings (5%) versus the prior month and -188 listings (-10%) 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 83 days 1,686 sqft
2018-02-01 70 days 1,731 sqft
2018-03-01 44 days 1,803 sqft
2018-04-01 39 days 1,841 sqft
2018-05-01 38 days 1,879 sqft
2018-06-01 37 days 1,904 sqft
2018-07-01 43 days 1,868 sqft
2018-08-01 43 days 1,852 sqft
2018-09-01 45 days 1,822 sqft
2018-10-01 47 days 1,812 sqft
2018-11-01 53 days 1,800 sqft
2018-12-01 64 days 1,783 sqft
2019-01-01 73 days 1,802 sqft
2019-02-01 66 days 1,901 sqft
2019-03-01 51 days 1,950 sqft
2019-04-01 43 days 1,995 sqft
2019-05-01 43 days 2,046 sqft
2019-06-01 42 days 2,032 sqft
2019-07-01 43 days 2,019 sqft
2019-08-01 44 days 1,976 sqft
2019-09-01 45 days 1,916 sqft
2019-10-01 47 days 1,870 sqft
2019-11-01 56 days 1,810 sqft
2019-12-01 68 days 1,796 sqft
2020-01-01 74 days 1,786 sqft
2020-02-01 54 days 1,836 sqft
2020-03-01 43 days 1,894 sqft
2020-04-01 45 days 1,910 sqft
2020-05-01 50 days 1,994 sqft
2020-06-01 47 days 1,978 sqft
2020-07-01 45 days 1,972 sqft
2020-08-01 43 days 1,921 sqft
2020-09-01 39 days 1,829 sqft
2020-10-01 41 days 1,740 sqft
2020-11-01 47 days 1,688 sqft
2020-12-01 55 days 1,650 sqft
2021-01-01 60 days 1,642 sqft
2021-02-01 48 days 1,623 sqft
2021-03-01 42 days 1,642 sqft
2021-04-01 30 days 1,664 sqft
2021-05-01 27 days 1,728 sqft
2021-06-01 18 days 1,739 sqft
2021-07-01 25 days 1,673 sqft
2021-08-01 34 days 1,673 sqft
2021-09-01 37 days 1,660 sqft
2021-10-01 42 days 1,642 sqft
2021-11-01 51 days 1,600 sqft
2021-12-01 66 days 1,571 sqft
2022-01-01 68 days 1,610 sqft
2022-02-01 37 days 1,624 sqft
2022-03-01 37 days 1,655 sqft
2022-04-01 31 days 1,689 sqft
2022-05-01 26 days 1,810 sqft
2022-06-01 27 days 1,837 sqft
2022-07-01 30 days 1,811 sqft
2022-08-01 35 days 1,815 sqft
2022-09-01 40 days 1,765 sqft
2022-10-01 37 days 1,798 sqft
Milwaukee's median listing age (time on market) for 2022-10-01 was 37 days. This is -12% shorter than the same period one year ago.

Milwaukee's median square footage for active listings during the 2022-10-01 period was 1,798 sqft. One year prior, the average listing was 1,642 sqft.