Morgantown USDA Loan Rates, Closing Costs & Stats

MORGANTOWN, WV

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.

Morgantown's 9 lenders originated 25 USDA loans during 2022. The total origination value was $4,735,000, with an average USDA loan value of $189,400.

Morgantown USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Morgantown averaged -0.67% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

Morgantown's average USDA mortgage closing costs are $5,150.

The average rate for the prior week (2023-11-17) was 6.73% and one month ago for the week of 2023-10-20, the average rate was 6.74%.

The average rate one year ago was 5.88%.

For refis of the same type during the week of 2023-11-24, the average rate was -1.21%.

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

Morgantown 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 Morgantown level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Flagstar Bank, FSB 8 3.98% $5,272
Clear Mountain Bank 4 4.38% $4,686
HOME POINT FINANCIAL CORPORATION 2 4.75% $5,753
WesBanco 2 3.81% $6,157
First Federal Bank of the Midwest 2 4.31% $5,527
UNITED WHOLESALE MORTGAGE, LLC 2 4.88% $9,159
Sierra Pacific Mortgage Company, Inc. 1 3.38% $8,947
LOANDEPOT.COM, LLC 1 3.75% $6,358
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $7,300

The top Morgantown USDA lender as defined by loan originations is Flagstar Bank, FSB, with 8 USDA loans originated. Their average total fees are $5,272, which is $586 higher than the next largest lender, Clear Mountain Bank.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Morgantown (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 $215,000 (0.0%) $289,356 (3.6%) 0.80 582
2018-02-01 $222,450 (3.8%) $299,736 (8.3%) 0.81 539
2018-03-01 $240,240 (11.8%) $316,078 (13.4%) 0.84 495
2018-04-01 $245,575 (9.1%) $317,849 (9.4%) 0.83 526
2018-05-01 $247,500 (7.7%) $314,730 (6.0%) 0.83 566
2018-06-01 $239,900 (4.5%) $306,116 (1.7%) 0.80 590
2018-07-01 $239,800 (4.3%) $298,868 (-2.6%) 0.80 613
2018-08-01 $237,500 (3.7%) $304,978 (0.7%) 0.80 614
2018-09-01 $244,500 (11.1%) $305,778 (1.1%) 0.82 632
2018-10-01 $242,325 (10.3%) $306,309 (4.5%) 0.82 625
2018-11-01 $241,750 (12.2%) $304,023 (5.1%) 0.82 594
2018-12-01 $239,900 (11.1%) $299,231 (3.2%) 0.83 547
2019-01-01 $244,925 (13.9%) $309,860 (7.1%) 0.85 495
2019-02-01 $241,724 (8.7%) $314,026 (4.8%) 0.82 491
2019-03-01 $252,428 (5.1%) $322,204 (1.9%) 0.83 488
2019-04-01 $263,379 (7.3%) $327,419 (3.0%) 0.84 495
2019-05-01 $266,850 (7.8%) $327,505 (4.1%) 0.83 545
2019-06-01 $259,900 (8.3%) $322,757 (5.4%) 0.81 569
2019-07-01 $263,175 (9.8%) $323,945 (8.4%) 0.82 590
2019-08-01 $266,095 (12.0%) $323,030 (5.9%) 0.84 600
2019-09-01 $262,638 (7.4%) $320,799 (4.9%) 0.84 613
2019-10-01 $259,975 (7.3%) $319,163 (4.2%) 0.84 622
2019-11-01 $255,000 (5.5%) $306,882 (0.9%) 0.84 588
2019-12-01 $252,425 (5.2%) $300,646 (0.5%) 0.84 557
2020-01-01 $257,000 (4.9%) $307,798 (-0.7%) 0.86 479
2020-02-01 $265,400 (9.8%) $321,098 (2.3%) 0.87 469
2020-03-01 $274,950 (8.9%) $346,346 (7.5%) 0.86 466
2020-04-01 $275,000 (4.4%) $345,895 (5.6%) 0.86 466
2020-05-01 $292,999 (9.8%) $354,850 (8.4%) 0.89 428
2020-06-01 $289,950 (11.6%) $362,832 (12.4%) 0.85 396
2020-07-01 $284,500 (8.1%) $359,246 (10.9%) 0.82 380
2020-08-01 $279,000 (4.9%) $364,535 (12.9%) 0.80 377
2020-09-01 $277,000 (5.5%) $368,743 (15.0%) 0.79 365
2020-10-01 $273,000 (5.0%) $363,576 (13.9%) 0.78 360
2020-11-01 $271,198 (6.4%) $352,331 (14.8%) 0.79 327
2020-12-01 $272,500 (8.0%) $353,388 (17.5%) 0.81 297
2021-01-01 $275,000 (7.0%) $347,731 (13.0%) 0.82 261
2021-02-01 $275,973 (4.0%) $336,549 (4.8%) 0.80 234
2021-03-01 $294,850 (7.2%) $369,605 (6.7%) 0.84 208
2021-04-01 $305,700 (11.2%) $386,037 (11.6%) 0.83 200
2021-05-01 $301,800 (3.0%) $397,271 (12.0%) 0.80 191
2021-06-01 $308,450 (6.4%) $408,522 (12.6%) 0.81 204
2021-07-01 $285,000 (0.2%) $386,960 (7.7%) 0.75 227
2021-08-01 $275,000 (-1.4%) $379,581 (4.1%) 0.73 222
2021-09-01 $259,900 (-6.2%) $359,874 (-2.4%) 0.69 236
2021-10-01 $264,900 (-3.0%) $351,875 (-3.2%) 0.71 229
2021-11-01 $272,250 (0.4%) $355,283 (0.8%) 0.73 221
2021-12-01 $285,725 (4.9%) $356,760 (1.0%) 0.77 188
2022-01-01 $288,450 (4.9%) $347,000 (-0.2%) 0.78 137
2022-02-01 $286,000 (3.6%) $370,019 (9.9%) 0.74 123
2022-03-01 $299,900 (1.7%) $397,908 (7.7%) 0.75 136
2022-04-01 $299,950 (-1.9%) $406,376 (5.3%) 0.72 130
2022-05-01 $292,875 (-3.0%) $395,725 (-0.4%) 0.67 158
2022-06-01 $280,375 (-9.1%) $381,518 (-6.6%) 0.62 176
2022-07-01 $280,000 (-1.8%) $383,635 (-0.9%) 0.63 189
2022-08-01 $277,225 (0.8%) $355,441 (-6.4%) 0.64 211
2022-09-01 $274,725 (5.7%) $353,700 (-1.7%) 0.64 218
2022-10-01 $280,000 (5.7%) $380,759 (8.2%) 0.66 217
2022-11-01 $280,000 (2.9%) $396,276 (11.5%) 0.67 213
2022-12-01 $294,000 (2.9%) $411,661 (15.4%) 0.73 194
2023-01-01 $301,900 (4.7%) $441,633 (27.3%) 0.75 180
2023-02-01 $299,215 (4.6%) $450,322 (21.7%) 0.72 165
2023-03-01 $304,245 (1.5%) $472,467 (18.7%) 0.72 158
2023-04-01 $315,000 (5.0%) $504,089 (24.0%) 0.73 172
2023-05-01 $310,495 (6.0%) $475,609 (20.2%) 0.70 200
2023-06-01 $322,998 (15.2%) $474,564 (24.4%) 0.73 209
2023-07-01 $320,995 (14.6%) $468,837 (22.2%) 0.73 207
2023-08-01 $304,718 (9.9%) $450,058 (26.6%) 0.70 228
2023-09-01 $315,000 (14.7%) $435,332 (23.1%) 0.73 252
2023-10-01 $303,495 (8.4%) $413,832 (8.7%) 0.71 257
Morgantown's median listing price for 2023-10-01 was $303,495, a difference of $23,495 (8.4%) versus the prior year and $-11,505 versus the prior month.

Morgantown's median listing price comes in at 71% of the national average.

Morgantown's average listing price for 2023-10-01 was $413,832, a difference of $33,073 (8.7%) versus the prior year and $-21,500 versus the prior month.

For the 2023-10-01 period, Morgantown had 257 MLS listings, a difference of 5 listings (2%) versus the prior month and 40 listings (18%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Morgantown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 118 days 1,966 sqft
2018-02-01 121 days 1,959 sqft
2018-03-01 121 days 2,062 sqft
2018-04-01 81 days 2,047 sqft
2018-05-01 66 days 2,002 sqft
2018-06-01 67 days 1,985 sqft
2018-07-01 71 days 1,976 sqft
2018-08-01 78 days 1,976 sqft
2018-09-01 87 days 1,976 sqft
2018-10-01 86 days 2,001 sqft
2018-11-01 91 days 1,945 sqft
2018-12-01 103 days 1,900 sqft
2019-01-01 108 days 1,899 sqft
2019-02-01 114 days 1,897 sqft
2019-03-01 95 days 1,963 sqft
2019-04-01 68 days 2,011 sqft
2019-05-01 60 days 2,046 sqft
2019-06-01 71 days 2,016 sqft
2019-07-01 75 days 2,032 sqft
2019-08-01 81 days 2,040 sqft
2019-09-01 84 days 2,018 sqft
2019-10-01 87 days 1,999 sqft
2019-11-01 96 days 1,985 sqft
2019-12-01 111 days 1,944 sqft
2020-01-01 122 days 2,005 sqft
2020-02-01 116 days 2,074 sqft
2020-03-01 76 days 2,216 sqft
2020-04-01 74 days 2,182 sqft
2020-05-01 80 days 2,207 sqft
2020-06-01 84 days 2,234 sqft
2020-07-01 65 days 2,159 sqft
2020-08-01 59 days 2,152 sqft
2020-09-01 66 days 2,152 sqft
2020-10-01 74 days 2,088 sqft
2020-11-01 90 days 2,072 sqft
2020-12-01 87 days 1,938 sqft
2021-01-01 89 days 2,005 sqft
2021-02-01 84 days 1,972 sqft
2021-03-01 75 days 2,126 sqft
2021-04-01 61 days 2,107 sqft
2021-05-01 53 days 2,211 sqft
2021-06-01 51 days 2,140 sqft
2021-07-01 50 days 1,982 sqft
2021-08-01 52 days 1,945 sqft
2021-09-01 57 days 1,863 sqft
2021-10-01 57 days 1,875 sqft
2021-11-01 66 days 1,875 sqft
2021-12-01 73 days 1,821 sqft
2022-01-01 80 days 1,821 sqft
2022-02-01 78 days 1,856 sqft
2022-03-01 50 days 1,932 sqft
2022-04-01 45 days 1,892 sqft
2022-05-01 47 days 1,921 sqft
2022-06-01 46 days 1,865 sqft
2022-07-01 50 days 1,823 sqft
2022-08-01 52 days 1,781 sqft
2022-09-01 53 days 1,818 sqft
2022-10-01 65 days 1,856 sqft
2022-11-01 66 days 1,874 sqft
2022-12-01 78 days 1,899 sqft
2023-01-01 79 days 1,888 sqft
2023-02-01 87 days 1,885 sqft
2023-03-01 77 days 1,860 sqft
2023-04-01 50 days 1,940 sqft
2023-05-01 46 days 1,928 sqft
2023-06-01 50 days 1,918 sqft
2023-07-01 52 days 1,940 sqft
2023-08-01 55 days 1,948 sqft
2023-09-01 54 days 1,940 sqft
2023-10-01 60 days 1,927 sqft
Morgantown's median listing age (time on market) for 2023-10-01 was 60 days. This is -7% shorter than the same period one year ago.

Morgantown's median square footage for active listings during the 2023-10-01 period was 1,927 sqft. One year prior, the average listing was 1,856 sqft.