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 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.