Morgantown USDA Loan Rates, Closing Costs & Stats

MORGANTOWN, WV

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    • 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 8 lenders originated 9 USDA loans during 2023. The total origination value was $1,595,000, with an average USDA loan value of $177,222.

    Morgantown USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Morgantown averaged 6.28% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

    Morgantown's average USDA mortgage closing costs are $5,241.

    The average rate for the prior week (2024-04-05) was 6.3% and one month ago for the week of 2024-03-08, the average rate was 6.36%.

    The average rate one year ago was 5.87%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.91%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Sierra Pacific Mortgage Company, Inc. 2 6.94% $9,477
    C & F Mortgage Corporation 1 6.75% $7,785
    First Federal Bank of the Midwest 1 5.25% $5,885
    Flagstar Bank, FSB 1 6.25% $7,363
    Peoples Bank 1 6.00% $5,803
    UNITED WHOLESALE MORTGAGE, LLC 1 6.58% $7,517
    Bank of England 1 6.25% $6,152
    WesBanco 1 6.63% $7,322

    The top Morgantown USDA lender as defined by loan originations is Sierra Pacific Mortgage Company, Inc., with 2 USDA loans originated. Their average total fees are $9,477, which is $1,692 higher than the next largest lender, C & F Mortgage Corporation.

    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%) $289,171 (3.5%) 0.80 582
    2018-02-01 $222,450 (3.8%) $299,553 (8.2%) 0.81 540
    2018-03-01 $240,000 (11.7%) $315,622 (13.2%) 0.84 496
    2018-04-01 $244,725 (8.8%) $317,418 (9.4%) 0.83 527
    2018-05-01 $246,500 (7.2%) $314,328 (5.8%) 0.82 567
    2018-06-01 $239,900 (4.5%) $305,747 (1.6%) 0.80 591
    2018-07-01 $239,700 (4.3%) $298,521 (-2.6%) 0.80 614
    2018-08-01 $237,000 (3.5%) $304,234 (0.6%) 0.79 616
    2018-09-01 $241,500 (9.8%) $305,047 (1.0%) 0.81 634
    2018-10-01 $241,825 (10.1%) $305,567 (4.3%) 0.82 627
    2018-11-01 $241,250 (12.1%) $303,246 (4.9%) 0.82 596
    2018-12-01 $239,900 (11.4%) $298,427 (3.0%) 0.83 549
    2019-01-01 $244,425 (13.7%) $308,918 (6.8%) 0.84 497
    2019-02-01 $240,450 (8.1%) $313,040 (4.5%) 0.81 493
    2019-03-01 $251,285 (4.7%) $321,200 (1.8%) 0.82 490
    2019-04-01 $263,236 (7.6%) $326,395 (2.8%) 0.84 496
    2019-05-01 $266,700 (8.2%) $327,262 (4.1%) 0.83 548
    2019-06-01 $259,900 (8.3%) $322,524 (5.5%) 0.81 573
    2019-07-01 $260,724 (8.8%) $323,205 (8.3%) 0.82 592
    2019-08-01 $265,355 (12.0%) $322,333 (6.0%) 0.84 601
    2019-09-01 $262,286 (8.6%) $320,270 (5.0%) 0.84 615
    2019-10-01 $259,950 (7.5%) $318,763 (4.3%) 0.84 623
    2019-11-01 $255,000 (5.7%) $306,472 (1.1%) 0.84 589
    2019-12-01 $252,350 (5.2%) $300,286 (0.6%) 0.84 557
    2020-01-01 $257,000 (5.1%) $307,763 (-0.4%) 0.86 479
    2020-02-01 $267,200 (11.1%) $321,663 (2.8%) 0.87 468
    2020-03-01 $274,975 (9.4%) $346,618 (7.9%) 0.86 465
    2020-04-01 $275,675 (4.7%) $346,054 (6.0%) 0.86 466
    2020-05-01 $294,000 (10.2%) $355,478 (8.6%) 0.89 428
    2020-06-01 $293,000 (12.7%) $363,530 (12.7%) 0.86 396
    2020-07-01 $284,725 (9.2%) $359,978 (11.4%) 0.83 380
    2020-08-01 $279,000 (5.1%) $364,541 (13.1%) 0.80 376
    2020-09-01 $277,000 (5.6%) $369,635 (15.4%) 0.79 364
    2020-10-01 $273,950 (5.4%) $364,458 (14.3%) 0.79 359
    2020-11-01 $271,475 (6.5%) $353,273 (15.3%) 0.79 326
    2020-12-01 $272,500 (8.0%) $354,430 (18.0%) 0.81 296
    2021-01-01 $276,250 (7.5%) $347,731 (13.0%) 0.82 261
    2021-02-01 $276,970 (3.7%) $337,124 (4.8%) 0.81 234
    2021-03-01 $294,850 (7.2%) $369,605 (6.6%) 0.84 208
    2021-04-01 $304,900 (10.6%) $385,071 (11.3%) 0.83 201
    2021-05-01 $299,900 (2.0%) $396,293 (11.5%) 0.80 192
    2021-06-01 $307,948 (5.1%) $407,585 (12.1%) 0.81 205
    2021-07-01 $285,000 (0.1%) $386,960 (7.5%) 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 (-2.6%) 0.69 236
    2021-10-01 $264,900 (-3.3%) $351,875 (-3.5%) 0.71 229
    2021-11-01 $272,250 (0.3%) $355,283 (0.6%) 0.73 221
    2021-12-01 $285,725 (4.9%) $356,760 (0.7%) 0.77 188
    2022-01-01 $288,450 (4.4%) $347,000 (-0.2%) 0.78 137
    2022-02-01 $286,000 (3.3%) $370,019 (9.8%) 0.74 123
    2022-03-01 $299,900 (1.7%) $397,908 (7.7%) 0.75 136
    2022-04-01 $299,950 (-1.6%) $406,376 (5.5%) 0.72 130
    2022-05-01 $292,875 (-2.3%) $395,725 (-0.1%) 0.67 158
    2022-06-01 $280,375 (-9.0%) $381,518 (-6.4%) 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
    2023-11-01 $299,973 (7.1%) $401,324 (1.3%) 0.71 255
    2023-12-01 $317,000 (7.8%) $410,177 (-0.4%) 0.77 229
    2024-01-01 $325,000 (7.7%) $423,813 (-4.0%) 0.79 197
    2024-02-01 $329,500 (10.1%) $422,913 (-6.1%) 0.79 183
    2024-03-01 $330,000 (8.5%) $435,823 (-7.8%) 0.78 202
    Morgantown's median listing price for 2024-03-01 was $330,000, a difference of $25,755 (8.5%) versus the prior year and $500 versus the prior month.

    Morgantown's median listing price comes in at 78% of the national average.

    Morgantown's average listing price for 2024-03-01 was $435,823, a difference of $-36,644 (-7.8%) versus the prior year and $12,910 versus the prior month.

    For the 2024-03-01 period, Morgantown had 202 MLS listings, a difference of 19 listings (10%) versus the prior month and 44 listings (28%) 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 1,965 sqft
    2018-02-01 121 days 1,958 sqft
    2018-03-01 121 days 2,059 sqft
    2018-04-01 80 days 2,044 sqft
    2018-05-01 66 days 1,999 sqft
    2018-06-01 67 days 1,983 sqft
    2018-07-01 71 days 1,974 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 1,943 sqft
    2018-12-01 103 days 1,900 sqft
    2019-01-01 109 days 1,899 sqft
    2019-02-01 114 days 1,897 sqft
    2019-03-01 96 days 1,963 sqft
    2019-04-01 69 days 2,012 sqft
    2019-05-01 59 days 2,049 sqft
    2019-06-01 70 days 2,019 sqft
    2019-07-01 75 days 2,034 sqft
    2019-08-01 81 days 2,040 sqft
    2019-09-01 84 days 2,017 sqft
    2019-10-01 87 days 1,998 sqft
    2019-11-01 96 days 1,985 sqft
    2019-12-01 111 days 1,941 sqft
    2020-01-01 123 days 2,005 sqft
    2020-02-01 117 days 2,076 sqft
    2020-03-01 76 days 2,217 sqft
    2020-04-01 74 days 2,189 sqft
    2020-05-01 80 days 2,215 sqft
    2020-06-01 84 days 2,248 sqft
    2020-07-01 65 days 2,176 sqft
    2020-08-01 58 days 2,155 sqft
    2020-09-01 66 days 2,158 sqft
    2020-10-01 74 days 2,100 sqft
    2020-11-01 89 days 2,075 sqft
    2020-12-01 87 days 1,942 sqft
    2021-01-01 89 days 2,005 sqft
    2021-02-01 84 days 1,975 sqft
    2021-03-01 75 days 2,126 sqft
    2021-04-01 60 days 2,100 sqft
    2021-05-01 52 days 2,205 sqft
    2021-06-01 52 days 2,121 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 1,872 sqft
    2022-07-01 50 days 1,825 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 1,895 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 1,919 sqft
    2023-06-01 50 days 1,915 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
    2023-11-01 65 days 1,939 sqft
    2023-12-01 73 days 1,940 sqft
    2024-01-01 85 days 1,957 sqft
    2024-02-01 85 days 1,938 sqft
    2024-03-01 58 days 1,947 sqft
    Morgantown's median listing age (time on market) for 2024-03-01 was 58 days. This is -25% shorter than the same period one year ago.

    Morgantown's median square footage for active listings during the 2024-03-01 period was 1,947 sqft. One year prior, the average listing was 1,860 sqft.