New Ulm USDA Loan Rates, Closing Costs & Stats
New Ulm, MN
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
6.42%
for the week of 2024-12-06, compared to the national average (all USDA variants) of
6.328% for the same period.
New Ulm's average USDA mortgage closing costs are $5,168.
The average rate for the prior week (2024-11-29) was
6.59% and
one month ago for the week of 2024-11-01, the
average rate was 6.54%.
The average rate one year ago was 7.06%.
For refis of the same type during the week of 2024-12-06, the average rate
was 6.23%.
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. LouisDate | 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 |
2024-11-01 | $219,000 (-1.8%) | $231,038 (-2.8%) | 0.00 | 42 |
New Ulm's median listing price comes in at 0% of the national average.
New Ulm's average listing price for 2024-11-01 was $231,038, a difference of $-6,737 (-2.8%) versus the prior year and $5,946 versus the prior month.
For the 2024-11-01 period, New Ulm had 42 MLS listings, a difference of -7 listings (-14%) versus the prior month and -2 listings (-5%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - New Ulm (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 |
2024-11-01 | 0 days | 2,132 sqft |
New Ulm's median square footage for active listings during the 2024-11-01 period was 2,132 sqft. One year prior, the average listing was 2,388 sqft.