North Port USDA Loan Rates, Closing Costs & Stats

North Port-Sarasota-Bradenton, FL

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.

North Port's 15 lenders originated 21 USDA loans during 2022. The total origination value was $6,195,000, with an average USDA loan value of $295,000.

North Port USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in North Port averaged 6.36% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

North Port's average USDA mortgage closing costs are $7,254.

The average rate for the prior week (2023-05-19) was 6% and one month ago for the week of 2023-04-21, the average rate was 5.71%.

The average rate one year ago was 4.83%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.04%.

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

North Port 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 North Port level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
HOME POINT FINANCIAL CORPORATION 4 4.06% $11,685
HOME SOLUTION LENDERS INC. 3 3.29% $7,938
Flagstar Bank, FSB 2 2.82% $8,513
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.25% $8,549
KBHS HOME LOANS, LLC 1 3.63% $15,090
MLB RESIDENTIAL LENDING, LLC 1 2.88% $3,114
NEAL COMMUNITIES FUNDING, LLC 1 2.75% $8,127
NEWREZ LLC 1 6.75% $6,945
PARK SQUARE HOME MORTGAGE, LLC 1 3.99% $18,546
PNC Bank 1 3.75% $6,204
PULTE MORTGAGE LLC 1 3.63% $5,612
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.25% $8,071
THE MORTGAGE FIRM, INC. 1 3.88% $13,501
DEVELOPER'S MORTGAGE COMPANY 1 4.00% $20,574
FAIRWAY FUNDING GROUP, INC. 1 4.63% $11,483

The top North Port USDA lender as defined by loan originations is HOME POINT FINANCIAL CORPORATION, with 4 USDA loans originated. Their average total fees are $11,685, which is $3,747 higher than the next largest lender, HOME SOLUTION LENDERS INC..

The lowest fee North Port USDA lenders (with over 10 loans originated) are .

The lowest rate North Port USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - North Port (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 $352,500 (-2.6%) $580,897 (-6.2%) 1.31 7,765
2018-02-01 $354,950 (-1.9%) $585,162 (-5.1%) 1.29 8,279
2018-03-01 $350,950 (-2.5%) $584,585 (-4.5%) 1.23 8,298
2018-04-01 $350,000 (-3.3%) $584,611 (-4.5%) 1.19 8,079
2018-05-01 $357,000 (-0.8%) $592,572 (-3.0%) 1.19 7,723
2018-06-01 $359,900 (-0.5%) $600,007 (-1.1%) 1.20 7,338
2018-07-01 $364,625 (1.3%) $609,870 (1.3%) 1.22 7,056
2018-08-01 $359,556 (2.7%) $610,476 (3.4%) 1.20 6,805
2018-09-01 $350,000 (0.0%) $590,581 (0.5%) 1.18 6,811
2018-10-01 $354,792 (1.4%) $595,651 (2.0%) 1.20 7,077
2018-11-01 $350,000 (0.0%) $599,091 (3.0%) 1.19 7,767
2018-12-01 $349,900 (0.0%) $598,304 (3.0%) 1.21 8,209
2019-01-01 $350,000 (-0.7%) $595,425 (2.5%) 1.21 8,774
2019-02-01 $352,250 (-0.8%) $596,325 (1.9%) 1.19 9,204
2019-03-01 $350,000 (-0.3%) $592,429 (1.3%) 1.17 9,212
2019-04-01 $360,937 (3.1%) $605,378 (3.6%) 1.15 8,704
2019-05-01 $364,614 (2.1%) $610,497 (3.0%) 1.14 7,985
2019-06-01 $369,250 (2.6%) $616,789 (2.8%) 1.15 7,430
2019-07-01 $369,000 (1.2%) $617,389 (1.2%) 1.16 6,948
2019-08-01 $369,900 (2.9%) $616,720 (1.0%) 1.16 6,612
2019-09-01 $367,496 (5.0%) $613,480 (3.9%) 1.16 6,001
2019-10-01 $363,633 (2.5%) $610,079 (2.4%) 1.17 6,575
2019-11-01 $369,000 (5.4%) $621,084 (3.7%) 1.21 6,858
2019-12-01 $370,925 (6.0%) $631,504 (5.6%) 1.24 6,893
2020-01-01 $369,995 (5.7%) $635,966 (6.8%) 1.24 7,066
2020-02-01 $371,178 (5.4%) $648,253 (8.7%) 1.22 7,267
2020-03-01 $371,250 (6.1%) $642,165 (8.4%) 1.16 7,363
2020-04-01 $357,200 (-1.0%) $616,814 (1.9%) 1.12 7,078
2020-05-01 $359,300 (-1.5%) $623,665 (2.2%) 1.09 6,499
2020-06-01 $365,000 (-1.2%) $651,404 (5.6%) 1.08 5,762
2020-07-01 $369,824 (0.2%) $660,814 (7.0%) 1.07 5,233
2020-08-01 $372,000 (0.6%) $659,178 (6.9%) 1.07 4,846
2020-09-01 $374,950 (2.0%) $672,728 (9.7%) 1.07 4,479
2020-10-01 $375,000 (3.1%) $687,924 (12.8%) 1.07 4,355
2020-11-01 $375,000 (1.6%) $700,528 (12.8%) 1.10 4,042
2020-12-01 $379,000 (2.2%) $710,953 (12.6%) 1.13 3,681
2021-01-01 $382,199 (3.3%) $752,068 (18.3%) 1.14 3,103
2021-02-01 $393,714 (6.1%) $819,134 (26.4%) 1.14 2,236
2021-03-01 $415,000 (11.8%) $830,742 (29.4%) 1.18 1,725
2021-04-01 $422,045 (18.2%) $854,438 (38.5%) 1.14 1,518
2021-05-01 $425,000 (18.3%) $881,351 (41.3%) 1.13 1,415
2021-06-01 $445,841 (22.2%) $916,686 (40.7%) 1.17 1,395
2021-07-01 $455,000 (23.0%) $930,294 (40.8%) 1.20 1,495
2021-08-01 $464,431 (24.9%) $945,272 (43.4%) 1.24 1,557
2021-09-01 $476,678 (27.1%) $945,157 (40.5%) 1.27 1,609
2021-10-01 $496,138 (32.3%) $988,653 (43.7%) 1.32 1,575
2021-11-01 $507,500 (35.3%) $1,032,255 (47.4%) 1.36 1,480
2021-12-01 $512,450 (35.2%) $1,085,201 (52.6%) 1.39 1,392
2022-01-01 $534,680 (39.9%) $1,195,050 (58.9%) 1.45 1,142
2022-02-01 $556,706 (41.4%) $1,254,482 (53.2%) 1.45 1,108
2022-03-01 $575,248 (38.6%) $1,268,277 (52.7%) 1.44 1,224
2022-04-01 $595,990 (41.2%) $1,255,000 (46.9%) 1.42 1,522
2022-05-01 $599,450 (41.1%) $1,185,750 (34.5%) 1.37 2,014
2022-06-01 $599,000 (34.4%) $1,153,859 (25.9%) 1.33 2,643
2022-07-01 $584,990 (28.6%) $1,065,617 (14.6%) 1.32 3,348
2022-08-01 $556,300 (19.8%) $1,006,450 (6.5%) 1.28 3,601
2022-09-01 $548,500 (15.1%) $965,532 (2.2%) 1.28 3,578
2022-10-01 $539,900 (8.8%) $961,004 (-2.8%) 1.27 3,466
2022-11-01 $527,313 (3.9%) $965,674 (-6.5%) 1.27 3,822
2022-12-01 $525,000 (2.5%) $991,293 (-8.7%) 1.30 3,885
2023-01-01 $539,950 (1.0%) $1,040,522 (-12.9%) 1.34 4,101
2023-02-01 $539,474 (-3.1%) $1,063,513 (-15.2%) 1.30 4,370
2023-03-01 $547,450 (-4.8%) $1,078,942 (-14.9%) 1.29 4,597
2023-04-01 $549,900 (-7.7%) $1,070,954 (-14.7%) 1.28 4,700
North Port's median listing price for 2023-04-01 was $549,900, a difference of $-46,090 (-7.7%) versus the prior year and $2,450 versus the prior month.

North Port's median listing price comes in at 128% of the national average.

North Port's average listing price for 2023-04-01 was $1,070,954, a difference of $-184,046 (-14.7%) versus the prior year and $-7,988 versus the prior month.

For the 2023-04-01 period, North Port had 4,700 MLS listings, a difference of 103 listings (2%) versus the prior month and 3,178 listings (209%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - North Port (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 79 days 1,847 sqft
2018-02-01 73 days 1,857 sqft
2018-03-01 66 days 1,858 sqft
2018-04-01 74 days 1,857 sqft
2018-05-01 80 days 1,863 sqft
2018-06-01 86 days 1,873 sqft
2018-07-01 89 days 1,882 sqft
2018-08-01 91 days 1,885 sqft
2018-09-01 88 days 1,865 sqft
2018-10-01 84 days 1,867 sqft
2018-11-01 76 days 1,852 sqft
2018-12-01 75 days 1,834 sqft
2019-01-01 80 days 1,828 sqft
2019-02-01 80 days 1,835 sqft
2019-03-01 78 days 1,835 sqft
2019-04-01 82 days 1,838 sqft
2019-05-01 88 days 1,840 sqft
2019-06-01 93 days 1,849 sqft
2019-07-01 93 days 1,856 sqft
2019-08-01 98 days 1,856 sqft
2019-09-01 95 days 1,852 sqft
2019-10-01 86 days 1,846 sqft
2019-11-01 75 days 1,856 sqft
2019-12-01 76 days 1,857 sqft
2020-01-01 79 days 1,853 sqft
2020-02-01 74 days 1,861 sqft
2020-03-01 68 days 1,853 sqft
2020-04-01 77 days 1,826 sqft
2020-05-01 90 days 1,818 sqft
2020-06-01 100 days 1,817 sqft
2020-07-01 96 days 1,828 sqft
2020-08-01 72 days 1,816 sqft
2020-09-01 65 days 1,818 sqft
2020-10-01 60 days 1,811 sqft
2020-11-01 61 days 1,784 sqft
2020-12-01 64 days 1,769 sqft
2021-01-01 66 days 1,774 sqft
2021-02-01 58 days 1,754 sqft
2021-03-01 46 days 1,773 sqft
2021-04-01 39 days 1,766 sqft
2021-05-01 38 days 1,752 sqft
2021-06-01 36 days 1,758 sqft
2021-07-01 36 days 1,759 sqft
2021-08-01 37 days 1,784 sqft
2021-09-01 38 days 1,769 sqft
2021-10-01 38 days 1,791 sqft
2021-11-01 41 days 1,811 sqft
2021-12-01 61 days 1,786 sqft
2022-01-01 44 days 1,795 sqft
2022-02-01 32 days 1,794 sqft
2022-03-01 30 days 1,815 sqft
2022-04-01 26 days 1,831 sqft
2022-05-01 28 days 1,836 sqft
2022-06-01 30 days 1,848 sqft
2022-07-01 35 days 1,839 sqft
2022-08-01 44 days 1,832 sqft
2022-09-01 51 days 1,825 sqft
2022-10-01 59 days 1,830 sqft
2022-11-01 59 days 1,809 sqft
2022-12-01 56 days 1,768 sqft
2023-01-01 61 days 1,783 sqft
2023-02-01 50 days 1,789 sqft
2023-03-01 48 days 1,808 sqft
2023-04-01 51 days 1,786 sqft
North Port's median listing age (time on market) for 2023-04-01 was 51 days. This is 96% longer than the same period one year ago.

North Port's median square footage for active listings during the 2023-04-01 period was 1,786 sqft. One year prior, the average listing was 1,831 sqft.