Norwalk USDA Loan Rates, Closing Costs & Stats

Norwalk, OH

  • 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.

    Norwalk's 5 lenders originated 18 USDA loans during 2023. The total origination value was $2,210,000, with an average USDA loan value of $122,778.

    Norwalk USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Norwalk averaged 7.11% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Norwalk's average USDA mortgage closing costs are $4,463.

    The average rate for the prior week (2024-04-12) was 6.66% and one month ago for the week of 2024-03-15, the average rate was 6.85%.

    The average rate one year ago was 6.49%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Norwalk 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 Norwalk level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNION HOME MORTGAGE CORP. 12 6.93% $6,223
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.63% $3,047
    CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $6,330
    NORTHERN MORTGAGE SERVICES, LLC 1 7.25% $2,931
    PLAZA HOME MORTGAGE, INC. 1 7.38% $2,238

    The top Norwalk USDA lender as defined by loan originations is UNION HOME MORTGAGE CORP., with 12 USDA loans originated. Their average total fees are $6,223, which is $3,176 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Norwalk USDA lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. ($6,223), .

    The lowest rate Norwalk USDA lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. (6.93%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Norwalk (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 $124,900 (16.3%) $162,044 (18.7%) 0.00 200
    2018-02-01 $119,950 (22.5%) $161,302 (20.0%) 0.00 198
    2018-03-01 $126,822 (20.9%) $167,550 (18.5%) 0.00 179
    2018-04-01 $132,561 (20.6%) $170,193 (13.6%) 0.00 172
    2018-05-01 $138,613 (13.7%) $174,461 (17.4%) 0.00 166
    2018-06-01 $134,500 (7.7%) $168,997 (8.3%) 0.00 184
    2018-07-01 $138,725 (18.1%) $169,138 (8.7%) 0.00 199
    2018-08-01 $139,950 (16.7%) $174,482 (11.8%) 0.00 194
    2018-09-01 $137,675 (18.7%) $169,312 (9.2%) 0.00 196
    2018-10-01 $129,900 (13.0%) $161,275 (5.8%) 0.00 190
    2018-11-01 $132,225 (12.1%) $160,280 (2.3%) 0.00 183
    2018-12-01 $136,700 (5.2%) $163,706 (4.1%) 0.00 167
    2019-01-01 $129,322 (3.5%) $161,148 (-0.6%) 0.00 151
    2019-02-01 $119,900 (0.0%) $154,017 (-4.5%) 0.00 151
    2019-03-01 $122,043 (-3.8%) $152,344 (-9.1%) 0.00 159
    2019-04-01 $125,700 (-5.2%) $154,859 (-9.0%) 0.00 160
    2019-05-01 $134,000 (-3.3%) $163,839 (-6.1%) 0.00 158
    2019-06-01 $128,900 (-4.2%) $162,361 (-3.9%) 0.00 161
    2019-07-01 $126,847 (-8.6%) $156,861 (-7.3%) 0.00 173
    2019-08-01 $136,445 (-2.5%) $165,313 (-5.3%) 0.00 182
    2019-09-01 $132,764 (-3.6%) $163,973 (-3.2%) 0.00 187
    2019-10-01 $129,900 (0.0%) $160,416 (-0.5%) 0.00 189
    2019-11-01 $129,900 (-1.8%) $159,010 (-0.8%) 0.00 167
    2019-12-01 $126,450 (-7.5%) $158,520 (-3.2%) 0.00 161
    2020-01-01 $129,900 (0.5%) $170,855 (6.0%) 0.00 133
    2020-02-01 $132,450 (10.5%) $170,545 (10.7%) 0.00 126
    2020-03-01 $132,225 (8.3%) $162,193 (6.5%) 0.00 138
    2020-04-01 $137,000 (9.0%) $167,323 (8.1%) 0.00 135
    2020-05-01 $129,950 (-3.0%) $162,049 (-1.1%) 0.00 114
    2020-06-01 $134,900 (4.7%) $165,931 (2.2%) 0.00 94
    2020-07-01 $120,400 (-5.1%) $162,921 (3.9%) 0.00 90
    2020-08-01 $129,900 (-4.8%) $183,486 (11.0%) 0.00 92
    2020-09-01 $133,425 (0.5%) $178,354 (8.8%) 0.00 94
    2020-10-01 $144,900 (11.6%) $179,816 (12.1%) 0.00 81
    2020-11-01 $127,400 (-1.9%) $158,994 (0.0%) 0.00 91
    2020-12-01 $128,450 (1.6%) $150,398 (-5.1%) 0.00 80
    2021-01-01 $120,000 (-7.6%) $152,237 (-10.9%) 0.00 75
    2021-02-01 $122,425 (-7.6%) $141,356 (-17.1%) 0.00 62
    2021-03-01 $124,925 (-5.5%) $140,712 (-13.2%) 0.00 61
    2021-04-01 $128,200 (-6.4%) $154,384 (-7.7%) 0.00 54
    2021-05-01 $122,900 (-5.4%) $161,055 (-0.6%) 0.00 50
    2021-06-01 $127,200 (-5.7%) $154,913 (-6.6%) 0.00 59
    2021-07-01 $137,450 (14.2%) $181,123 (11.2%) 0.00 68
    2021-08-01 $129,900 (0.0%) $172,477 (-6.0%) 0.00 77
    2021-09-01 $141,975 (6.4%) $185,389 (3.9%) 0.00 73
    2021-10-01 $152,200 (5.0%) $200,738 (11.6%) 0.00 92
    2021-11-01 $137,500 (7.9%) $184,400 (16.0%) 0.00 84
    2021-12-01 $136,750 (6.5%) $183,917 (22.3%) 0.00 80
    2022-01-01 $129,900 (8.3%) $158,975 (4.4%) 0.00 128
    2022-02-01 $125,200 (2.3%) $149,591 (5.8%) 0.00 128
    2022-03-01 $123,675 (-1.0%) $158,593 (12.7%) 0.00 55
    2022-04-01 $119,950 (-6.4%) $183,745 (19.0%) 0.00 49
    2022-05-01 $133,675 (8.8%) $210,757 (30.9%) 0.00 55
    2022-06-01 $135,000 (6.1%) $214,309 (38.3%) 0.00 58
    2022-07-01 $162,450 (18.2%) $240,767 (32.9%) 0.00 52
    2022-08-01 $191,250 (47.2%) $260,160 (50.8%) 0.00 50
    2022-09-01 $141,700 (-0.2%) $200,204 (8.0%) 0.00 68
    2022-10-01 $139,900 (-8.1%) $173,844 (-13.4%) 0.00 78
    2022-11-01 $145,150 (5.6%) $176,709 (-4.2%) 0.00 91
    2022-12-01 $140,500 (2.7%) $179,258 (-2.5%) 0.00 94
    2023-01-01 $181,150 (39.5%) $194,660 (22.5%) 0.00 61
    2023-02-01 $157,475 (25.8%) $190,446 (27.3%) 0.00 42
    2023-03-01 $154,950 (25.3%) $195,201 (23.1%) 0.00 38
    2023-04-01 $149,450 (24.6%) $182,771 (-0.5%) 0.00 36
    2023-05-01 $143,250 (7.2%) $176,950 (-16.0%) 0.00 40
    2023-06-01 $149,900 (11.0%) $193,546 (-9.7%) 0.00 43
    2023-07-01 $212,000 (30.5%) $246,334 (2.3%) 0.00 41
    2023-08-01 $192,000 (0.4%) $233,099 (-10.4%) 0.00 48
    2023-09-01 $177,400 (25.2%) $221,622 (10.7%) 0.00 57
    2023-10-01 $163,200 (16.7%) $207,173 (19.2%) 0.00 56
    2023-11-01 $179,925 (24.0%) $210,218 (19.0%) 0.00 62
    2023-12-01 $189,900 (35.2%) $218,529 (21.9%) 0.00 56
    2024-01-01 $189,675 (4.7%) $226,821 (16.5%) 0.00 56
    2024-02-01 $184,675 (17.3%) $230,915 (21.3%) 0.00 46
    2024-03-01 $189,950 (22.6%) $226,561 (16.1%) 0.00 38
    Norwalk's median listing price for 2024-03-01 was $189,950, a difference of $35,000 (22.6%) versus the prior year and $5,275 versus the prior month.

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

    Norwalk's average listing price for 2024-03-01 was $226,561, a difference of $31,360 (16.1%) versus the prior year and $-4,354 versus the prior month.

    For the 2024-03-01 period, Norwalk had 38 MLS listings, a difference of -8 listings (-17%) versus the prior month and 0 listings (0%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Norwalk (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,728 sqft
    2018-02-01 0 days 1,682 sqft
    2018-03-01 0 days 1,644 sqft
    2018-04-01 0 days 1,646 sqft
    2018-05-01 0 days 1,728 sqft
    2018-06-01 0 days 1,707 sqft
    2018-07-01 0 days 1,713 sqft
    2018-08-01 0 days 1,748 sqft
    2018-09-01 0 days 1,698 sqft
    2018-10-01 0 days 1,630 sqft
    2018-11-01 0 days 1,648 sqft
    2018-12-01 0 days 1,669 sqft
    2019-01-01 0 days 1,629 sqft
    2019-02-01 0 days 1,675 sqft
    2019-03-01 0 days 1,656 sqft
    2019-04-01 0 days 1,648 sqft
    2019-05-01 0 days 1,632 sqft
    2019-06-01 0 days 1,629 sqft
    2019-07-01 0 days 1,625 sqft
    2019-08-01 0 days 1,733 sqft
    2019-09-01 0 days 1,751 sqft
    2019-10-01 0 days 1,764 sqft
    2019-11-01 0 days 1,691 sqft
    2019-12-01 0 days 1,662 sqft
    2020-01-01 0 days 1,730 sqft
    2020-02-01 0 days 1,740 sqft
    2020-03-01 0 days 1,652 sqft
    2020-04-01 0 days 1,679 sqft
    2020-05-01 0 days 1,634 sqft
    2020-06-01 0 days 1,648 sqft
    2020-07-01 0 days 1,603 sqft
    2020-08-01 0 days 1,711 sqft
    2020-09-01 0 days 1,659 sqft
    2020-10-01 0 days 1,608 sqft
    2020-11-01 0 days 1,581 sqft
    2020-12-01 0 days 1,567 sqft
    2021-01-01 0 days 1,495 sqft
    2021-02-01 0 days 1,440 sqft
    2021-03-01 0 days 1,387 sqft
    2021-04-01 0 days 1,479 sqft
    2021-05-01 0 days 1,463 sqft
    2021-06-01 0 days 1,544 sqft
    2021-07-01 0 days 1,560 sqft
    2021-08-01 0 days 1,566 sqft
    2021-09-01 0 days 1,571 sqft
    2021-10-01 0 days 1,673 sqft
    2021-11-01 0 days 1,571 sqft
    2021-12-01 0 days 1,549 sqft
    2022-01-01 0 days 1,344 sqft
    2022-02-01 0 days 1,350 sqft
    2022-03-01 0 days 1,390 sqft
    2022-04-01 0 days 1,455 sqft
    2022-05-01 0 days 1,482 sqft
    2022-06-01 0 days 1,535 sqft
    2022-07-01 0 days 1,628 sqft
    2022-08-01 0 days 1,751 sqft
    2022-09-01 0 days 1,561 sqft
    2022-10-01 0 days 1,508 sqft
    2022-11-01 0 days 1,490 sqft
    2022-12-01 0 days 1,441 sqft
    2023-01-01 0 days 1,567 sqft
    2023-02-01 0 days 1,615 sqft
    2023-03-01 0 days 1,670 sqft
    2023-04-01 0 days 1,576 sqft
    2023-05-01 0 days 1,556 sqft
    2023-06-01 0 days 1,532 sqft
    2023-07-01 0 days 1,686 sqft
    2023-08-01 0 days 1,691 sqft
    2023-09-01 0 days 1,648 sqft
    2023-10-01 0 days 1,586 sqft
    2023-11-01 0 days 1,671 sqft
    2023-12-01 0 days 1,600 sqft
    2024-01-01 0 days 1,667 sqft
    2024-02-01 0 days 1,722 sqft
    2024-03-01 0 days 1,706 sqft
    Norwalk's median listing age (time on market) for 2024-03-01 was 0 days.

    Norwalk's median square footage for active listings during the 2024-03-01 period was 1,706 sqft. One year prior, the average listing was 1,670 sqft.