New Ulm USDA Loan Rates, Closing Costs & Stats

New Ulm, MN

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    New Ulm's 3 lenders originated 3 USDA loans during 2023. The total origination value was $455,000, with an average USDA loan value of $151,667.

    New Ulm USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in New Ulm averaged 0.29% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    New Ulm's average USDA mortgage closing costs are $5,168.

    The average rate for the prior week (2024-11-08) was 6.74% and one month ago for the week of 2024-10-11, the average rate was 6.41%.

    The average rate one year ago was 7.63%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.1%.

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

    New Ulm 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 New Ulm level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    BAY EQUITY LLC 1 6.25% $6,197
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $11,955
    Park State Bank 1 6.50% $6,571

    The top New Ulm USDA lender as defined by loan originations is BAY EQUITY LLC, with 1 USDA loans originated. Their average total fees are $6,197, which is $5,758 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - New Ulm (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 $127,650 (6.7%) $174,624 (5.0%) 0.00 86
    2018-02-01 $129,900 (4.6%) $186,322 (8.5%) 0.00 75
    2018-03-01 $128,500 (5.0%) $183,275 (5.3%) 0.00 73
    2018-04-01 $147,250 (22.8%) $193,063 (12.5%) 0.00 75
    2018-05-01 $145,813 (15.8%) $188,650 (8.9%) 0.00 81
    2018-06-01 $141,050 (6.9%) $196,069 (7.1%) 0.00 79
    2018-07-01 $134,900 (4.0%) $195,594 (8.5%) 0.00 69
    2018-08-01 $140,900 (9.9%) $203,039 (13.8%) 0.00 75
    2018-09-01 $150,000 (19.1%) $191,526 (11.7%) 0.00 81
    2018-10-01 $146,900 (17.6%) $198,718 (19.9%) 0.00 84
    2018-11-01 $142,900 (16.2%) $202,527 (25.0%) 0.00 76
    2018-12-01 $129,900 (4.0%) $194,159 (16.3%) 0.00 70
    2019-01-01 $132,925 (4.1%) $206,222 (18.1%) 0.00 70
    2019-02-01 $133,400 (2.7%) $204,795 (9.9%) 0.00 72
    2019-03-01 $149,186 (16.1%) $206,340 (12.6%) 0.00 73
    2019-04-01 $153,986 (4.6%) $206,890 (7.2%) 0.00 77
    2019-05-01 $145,975 (0.1%) $199,355 (5.7%) 0.00 83
    2019-06-01 $164,900 (16.9%) $205,564 (4.8%) 0.00 82
    2019-07-01 $154,425 (14.5%) $189,491 (-3.1%) 0.00 85
    2019-08-01 $150,464 (6.8%) $178,763 (-12.0%) 0.00 91
    2019-09-01 $155,659 (3.8%) $186,127 (-2.8%) 0.00 94
    2019-10-01 $156,223 (6.4%) $191,702 (-3.5%) 0.00 97
    2019-11-01 $149,900 (4.9%) $184,679 (-8.8%) 0.00 99
    2019-12-01 $149,900 (15.4%) $190,409 (-1.9%) 0.00 90
    2020-01-01 $149,900 (12.8%) $192,912 (-6.5%) 0.00 84
    2020-02-01 $149,900 (12.4%) $196,894 (-3.9%) 0.00 81
    2020-03-01 $156,175 (4.7%) $197,650 (-4.2%) 0.00 75
    2020-04-01 $170,575 (10.8%) $199,444 (-3.6%) 0.00 75
    2020-05-01 $178,450 (22.3%) $204,745 (2.7%) 0.00 68
    2020-06-01 $183,900 (11.5%) $206,486 (0.5%) 0.00 74
    2020-07-01 $165,950 (7.5%) $184,531 (-2.6%) 0.00 73
    2020-08-01 $159,700 (6.1%) $181,149 (1.3%) 0.00 63
    2020-09-01 $141,150 (-9.3%) $172,132 (-7.5%) 0.00 65
    2020-10-01 $138,700 (-11.2%) $165,153 (-13.9%) 0.00 66
    2020-11-01 $134,900 (-10.0%) $164,208 (-11.1%) 0.00 60
    2020-12-01 $128,650 (-14.2%) $164,772 (-13.5%) 0.00 62
    2021-01-01 $139,900 (-6.7%) $183,375 (-4.9%) 0.00 43
    2021-02-01 $127,400 (-15.0%) $205,717 (4.5%) 0.00 41
    2021-03-01 $149,150 (-4.5%) $221,465 (12.1%) 0.00 40
    2021-04-01 $147,950 (-13.3%) $223,566 (12.1%) 0.00 34
    2021-05-01 $139,900 (-21.6%) $209,170 (2.2%) 0.00 26
    2021-06-01 $146,804 (-20.2%) $209,345 (1.4%) 0.00 36
    2021-07-01 $149,000 (-10.2%) $222,812 (20.8%) 0.00 33
    2021-08-01 $143,175 (-10.4%) $205,003 (13.2%) 0.00 38
    2021-09-01 $159,850 (13.3%) $219,449 (27.5%) 0.00 36
    2021-10-01 $159,700 (15.1%) $214,427 (29.8%) 0.00 43
    2021-11-01 $165,450 (22.7%) $243,416 (48.2%) 0.00 32
    2021-12-01 $162,175 (26.1%) $250,229 (51.9%) 0.00 27
    2022-01-01 $169,900 (21.4%) $290,565 (58.5%) 0.00 19
    2022-02-01 $181,200 (42.2%) $223,012 (8.4%) 0.00 14
    2022-03-01 $172,400 (15.6%) $210,703 (-4.9%) 0.00 20
    2022-04-01 $162,400 (9.8%) $221,468 (-0.9%) 0.00 24
    2022-05-01 $209,900 (50.0%) $230,743 (10.3%) 0.00 27
    2022-06-01 $214,900 (46.4%) $256,610 (22.6%) 0.00 38
    2022-07-01 $234,900 (57.7%) $275,517 (23.7%) 0.00 33
    2022-08-01 $247,450 (72.8%) $279,235 (36.2%) 0.00 28
    2022-09-01 $217,450 (36.0%) $257,947 (17.5%) 0.00 32
    2022-10-01 $215,000 (34.6%) $249,343 (16.3%) 0.00 35
    2022-11-01 $184,000 (11.2%) $234,941 (-3.5%) 0.00 28
    2022-12-01 $199,900 (23.3%) $242,643 (-3.0%) 0.00 19
    2023-01-01 $241,150 (41.9%) $242,652 (-16.5%) 0.00 23
    2023-02-01 $294,900 (62.8%) $285,429 (28.0%) 0.00 21
    2023-03-01 $334,950 (94.3%) $303,232 (43.9%) 0.00 21
    2023-04-01 $284,900 (75.4%) $290,191 (31.0%) 0.00 26
    2023-05-01 $267,400 (27.4%) $294,299 (27.5%) 0.00 25
    2023-06-01 $255,400 (18.9%) $287,122 (11.9%) 0.00 25
    2023-07-01 $259,700 (10.6%) $264,857 (-3.9%) 0.00 24
    2023-08-01 $238,800 (-3.5%) $250,827 (-10.2%) 0.00 33
    2023-09-01 $241,700 (11.2%) $250,217 (-3.0%) 0.00 37
    2023-10-01 $218,650 (1.7%) $234,358 (-6.0%) 0.00 46
    2023-11-01 $223,000 (21.2%) $237,775 (1.2%) 0.00 44
    2023-12-01 $242,450 (21.3%) $243,200 (0.2%) 0.00 36
    2024-01-01 $237,450 (-1.5%) $244,717 (0.9%) 0.00 29
    2024-02-01 $258,650 (-12.3%) $271,985 (-4.7%) 0.00 23
    2024-03-01 $279,900 (-16.4%) $274,600 (-9.4%) 0.00 21
    2024-04-01 $249,950 (-12.3%) $245,290 (-15.5%) 0.00 26
    2024-05-01 $249,900 (-6.5%) $244,221 (-17.0%) 0.00 27
    2024-06-01 $250,000 (-2.1%) $258,072 (-10.1%) 0.00 24
    2024-07-01 $248,100 (-4.5%) $260,513 (-1.6%) 0.00 25
    2024-08-01 $238,700 (0.0%) $235,279 (-6.2%) 0.00 28
    2024-09-01 $222,450 (-8.0%) $235,048 (-6.1%) 0.00 42
    2024-10-01 $196,250 (-10.2%) $225,092 (-4.0%) 0.00 49
    New Ulm's median listing price for 2024-10-01 was $196,250, a difference of $-22,400 (-10.2%) versus the prior year and $-26,200 versus the prior month.

    New Ulm's median listing price comes in at 0% of the national average.

    New Ulm's average listing price for 2024-10-01 was $225,092, a difference of $-9,266 (-4.0%) versus the prior year and $-9,956 versus the prior month.

    For the 2024-10-01 period, New Ulm had 49 MLS listings, a difference of 7 listings (17%) versus the prior month and 3 listings (7%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - New Ulm (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,682 sqft
    2018-02-01 0 days 1,800 sqft
    2018-03-01 0 days 1,811 sqft
    2018-04-01 0 days 1,937 sqft
    2018-05-01 0 days 1,909 sqft
    2018-06-01 0 days 1,989 sqft
    2018-07-01 0 days 1,971 sqft
    2018-08-01 0 days 2,000 sqft
    2018-09-01 0 days 1,974 sqft
    2018-10-01 0 days 1,836 sqft
    2018-11-01 0 days 1,725 sqft
    2018-12-01 0 days 1,775 sqft
    2019-01-01 0 days 1,850 sqft
    2019-02-01 0 days 1,910 sqft
    2019-03-01 0 days 1,812 sqft
    2019-04-01 0 days 1,702 sqft
    2019-05-01 0 days 1,721 sqft
    2019-06-01 0 days 1,874 sqft
    2019-07-01 0 days 1,834 sqft
    2019-08-01 0 days 1,815 sqft
    2019-09-01 0 days 1,857 sqft
    2019-10-01 0 days 1,884 sqft
    2019-11-01 0 days 1,850 sqft
    2019-12-01 0 days 1,891 sqft
    2020-01-01 0 days 1,921 sqft
    2020-02-01 0 days 1,930 sqft
    2020-03-01 0 days 1,885 sqft
    2020-04-01 0 days 2,019 sqft
    2020-05-01 0 days 2,134 sqft
    2020-06-01 0 days 2,368 sqft
    2020-07-01 0 days 2,275 sqft
    2020-08-01 0 days 2,244 sqft
    2020-09-01 0 days 2,079 sqft
    2020-10-01 0 days 2,086 sqft
    2020-11-01 0 days 2,062 sqft
    2020-12-01 0 days 2,076 sqft
    2021-01-01 0 days 2,033 sqft
    2021-02-01 0 days 1,837 sqft
    2021-03-01 0 days 1,974 sqft
    2021-04-01 0 days 2,031 sqft
    2021-05-01 0 days 2,104 sqft
    2021-06-01 0 days 2,136 sqft
    2021-07-01 0 days 2,198 sqft
    2021-08-01 0 days 1,974 sqft
    2021-09-01 0 days 2,240 sqft
    2021-10-01 0 days 2,106 sqft
    2021-11-01 0 days 2,237 sqft
    2021-12-01 0 days 2,007 sqft
    2022-01-01 0 days 2,006 sqft
    2022-02-01 0 days 2,020 sqft
    2022-03-01 0 days 2,006 sqft
    2022-04-01 0 days 2,036 sqft
    2022-05-01 0 days 2,199 sqft
    2022-06-01 0 days 2,204 sqft
    2022-07-01 0 days 2,264 sqft
    2022-08-01 0 days 2,288 sqft
    2022-09-01 0 days 2,174 sqft
    2022-10-01 0 days 2,405 sqft
    2022-11-01 0 days 2,246 sqft
    2022-12-01 0 days 2,088 sqft
    2023-01-01 0 days 1,776 sqft
    2023-02-01 0 days 1,774 sqft
    2023-03-01 0 days 1,804 sqft
    2023-04-01 0 days 2,144 sqft
    2023-05-01 0 days 2,184 sqft
    2023-06-01 0 days 2,176 sqft
    2023-07-01 0 days 2,184 sqft
    2023-08-01 0 days 2,328 sqft
    2023-09-01 0 days 2,352 sqft
    2023-10-01 0 days 2,374 sqft
    2023-11-01 0 days 2,388 sqft
    2023-12-01 0 days 2,306 sqft
    2024-01-01 0 days 2,228 sqft
    2024-02-01 0 days 2,326 sqft
    2024-03-01 0 days 2,082 sqft
    2024-04-01 0 days 1,878 sqft
    2024-05-01 0 days 1,952 sqft
    2024-06-01 0 days 1,936 sqft
    2024-07-01 0 days 2,208 sqft
    2024-08-01 0 days 1,891 sqft
    2024-09-01 0 days 2,156 sqft
    2024-10-01 0 days 2,076 sqft
    New Ulm's median listing age (time on market) for 2024-10-01 was 0 days.

    New Ulm's median square footage for active listings during the 2024-10-01 period was 2,076 sqft. One year prior, the average listing was 2,374 sqft.