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 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 -0.43% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

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

The average rate for the prior week (2024-11-22) was 6.37% and one month ago for the week of 2024-10-25, the average rate was 6.27%.

The average rate one year ago was 6.77%.

For refis of the same type during the week of 2024-11-29, the average rate was 0%.

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
2024-04-01 $326,975 (3.8%) $439,049 (-12.9%) 0.76 234
2024-05-01 $363,125 (17.0%) $463,909 (-2.5%) 0.82 237
2024-06-01 $363,500 (12.5%) $461,953 (-2.7%) 0.82 260
2024-07-01 $339,250 (5.7%) $444,387 (-5.2%) 0.78 252
2024-08-01 $325,000 (6.7%) $427,157 (-5.1%) 0.76 243
2024-09-01 $311,738 (-1.0%) $411,039 (-5.6%) 0.73 253
2024-10-01 $317,809 (4.7%) $414,794 (0.2%) 0.75 265
Morgantown's median listing price for 2024-10-01 was $317,809, a difference of $14,314 (4.7%) versus the prior year and $6,071 versus the prior month.

Morgantown's median listing price comes in at 75% of the national average.

Morgantown's average listing price for 2024-10-01 was $414,794, a difference of $962 (0.2%) versus the prior year and $3,755 versus the prior month.

For the 2024-10-01 period, Morgantown had 265 MLS listings, a difference of 12 listings (5%) versus the prior month and 8 listings (3%) 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
2024-04-01 45 days 1,954 sqft
2024-05-01 43 days 2,158 sqft
2024-06-01 44 days 2,130 sqft
2024-07-01 60 days 2,042 sqft
2024-08-01 66 days 1,987 sqft
2024-09-01 63 days 1,827 sqft
2024-10-01 61 days 1,839 sqft
Morgantown's median listing age (time on market) for 2024-10-01 was 61 days. This is 1% longer than the same period one year ago.

Morgantown's median square footage for active listings during the 2024-10-01 period was 1,839 sqft. One year prior, the average listing was 1,927 sqft.