Ontario USDA Loan Rates, Closing Costs & Stats

Ontario, OR-ID

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.

Ontario's 6 lenders originated 10 USDA loans during 2023. The total origination value was $2,490,000, with an average USDA loan value of $249,000.

Ontario USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Ontario averaged -0.35% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

Ontario's average USDA mortgage closing costs are $5,774.

The average rate for the prior week (2024-11-22) was 6.26% and one month ago for the week of 2024-10-25, the average rate was 6.26%.

The average rate one year ago was 6.76%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.2%.

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

Ontario 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 Ontario level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FIRST COLONY MORTGAGE CORPORATION 3 6.25% $7,207
ACADEMY MORTGAGE CORPORATION 2 6.00% $7,836
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.50% $14,140
GUARANTEED RATE, INC. 1 5.75% $8,639
GUILD MORTGAGE COMPANY 1 5.75% $8,846
PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.13% $6,832

The top Ontario USDA lender as defined by loan originations is FIRST COLONY MORTGAGE CORPORATION, with 3 USDA loans originated. Their average total fees are $7,207, which is $630 lower than the next largest lender, ACADEMY MORTGAGE CORPORATION.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Ontario (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 $179,900 (18.0%) $238,375 (13.1%) 0.00 164
2018-02-01 $179,925 (16.2%) $241,406 (16.3%) 0.00 149
2018-03-01 $190,999 (17.9%) $249,466 (17.3%) 0.00 129
2018-04-01 $198,600 (17.6%) $250,847 (17.1%) 0.00 129
2018-05-01 $204,450 (21.2%) $253,510 (16.1%) 0.00 138
2018-06-01 $214,000 (20.4%) $272,331 (23.8%) 0.00 153
2018-07-01 $223,950 (24.8%) $287,137 (25.4%) 0.00 154
2018-08-01 $231,750 (35.4%) $287,820 (26.3%) 0.00 158
2018-09-01 $249,999 (48.0%) $288,909 (30.7%) 0.00 151
2018-10-01 $267,250 (59.2%) $294,991 (37.2%) 0.00 147
2018-11-01 $260,950 (51.3%) $290,468 (30.5%) 0.00 139
2018-12-01 $265,500 (47.6%) $324,263 (34.1%) 0.00 138
2019-01-01 $267,875 (48.9%) $322,414 (35.3%) 0.00 123
2019-02-01 $248,250 (38.0%) $299,178 (23.9%) 0.00 116
2019-03-01 $249,386 (30.6%) $304,249 (22.0%) 0.00 126
2019-04-01 $257,450 (29.6%) $327,754 (30.7%) 0.00 130
2019-05-01 $262,250 (28.3%) $347,048 (36.9%) 0.00 118
2019-06-01 $250,000 (16.8%) $343,102 (26.0%) 0.00 111
2019-07-01 $247,500 (10.5%) $321,780 (12.1%) 0.00 128
2019-08-01 $249,973 (7.9%) $323,027 (12.2%) 0.00 126
2019-09-01 $249,932 (0.0%) $322,798 (11.7%) 0.00 137
2019-10-01 $252,205 (-5.6%) $321,836 (9.1%) 0.00 137
2019-11-01 $253,900 (-2.7%) $319,491 (10.0%) 0.00 124
2019-12-01 $259,950 (-2.1%) $333,099 (2.7%) 0.00 104
2020-01-01 $289,900 (8.2%) $366,223 (13.6%) 0.00 78
2020-02-01 $273,900 (10.3%) $340,306 (13.8%) 0.00 83
2020-03-01 $268,900 (7.8%) $337,748 (11.0%) 0.00 95
2020-04-01 $266,675 (3.6%) $329,267 (0.5%) 0.00 99
2020-05-01 $266,450 (1.6%) $316,242 (-8.9%) 0.00 84
2020-06-01 $297,450 (19.0%) $366,415 (6.8%) 0.00 71
2020-07-01 $309,075 (24.9%) $393,789 (22.4%) 0.00 64
2020-08-01 $327,495 (31.0%) $393,771 (21.9%) 0.00 59
2020-09-01 $329,725 (31.9%) $399,710 (23.8%) 0.00 51
2020-10-01 $299,000 (18.6%) $393,819 (22.4%) 0.00 57
2020-11-01 $352,704 (38.9%) $446,563 (39.8%) 0.00 50
2020-12-01 $319,794 (23.0%) $425,977 (27.9%) 0.00 42
2021-01-01 $289,960 (0.0%) $411,443 (12.4%) 0.00 35
2021-02-01 $314,995 (15.0%) $426,547 (25.3%) 0.00 37
2021-03-01 $336,925 (25.3%) $460,751 (36.4%) 0.00 38
2021-04-01 $407,500 (52.8%) $478,877 (45.4%) 0.00 44
2021-05-01 $390,000 (46.4%) $468,441 (48.1%) 0.00 47
2021-06-01 $373,610 (25.6%) $460,355 (25.6%) 0.00 61
2021-07-01 $400,000 (29.4%) $465,324 (18.2%) 0.00 86
2021-08-01 $397,450 (21.4%) $473,201 (20.2%) 0.00 97
2021-09-01 $419,925 (27.4%) $477,272 (19.4%) 0.00 107
2021-10-01 $399,000 (33.4%) $475,276 (20.7%) 0.00 113
2021-11-01 $422,500 (19.8%) $508,187 (13.8%) 0.00 94
2021-12-01 $427,475 (33.7%) $520,289 (22.1%) 0.00 86
2022-01-01 $448,000 (54.5%) $525,707 (27.8%) 0.00 70
2022-02-01 $447,975 (42.2%) $490,700 (15.0%) 0.00 64
2022-03-01 $443,700 (31.7%) $547,589 (18.9%) 0.00 67
2022-04-01 $452,500 (11.0%) $636,542 (32.9%) 0.00 76
2022-05-01 $472,450 (21.1%) $643,184 (37.3%) 0.00 107
2022-06-01 $429,000 (14.8%) $586,322 (27.4%) 0.00 150
2022-07-01 $413,000 (3.3%) $543,898 (16.9%) 0.00 194
2022-08-01 $411,000 (3.4%) $545,800 (15.3%) 0.00 193
2022-09-01 $399,900 (-4.8%) $540,253 (13.2%) 0.00 179
2022-10-01 $405,000 (1.5%) $538,864 (13.4%) 0.00 191
2022-11-01 $399,999 (-5.3%) $548,124 (7.9%) 0.00 173
2022-12-01 $399,900 (-6.5%) $566,155 (8.8%) 0.00 147
2023-01-01 $406,000 (-9.4%) $587,188 (11.7%) 0.00 131
2023-02-01 $408,200 (-8.9%) $555,879 (13.3%) 0.00 135
2023-03-01 $436,175 (-1.7%) $574,204 (4.9%) 0.00 129
2023-04-01 $425,000 (-6.1%) $572,812 (-10.0%) 0.00 131
2023-05-01 $405,000 (-14.3%) $546,232 (-15.1%) 0.00 138
2023-06-01 $403,750 (-5.9%) $533,975 (-8.9%) 0.00 153
2023-07-01 $405,000 (-1.9%) $574,435 (5.6%) 0.00 166
2023-08-01 $410,750 (-0.1%) $512,580 (-6.1%) 0.00 168
2023-09-01 $399,999 (0.0%) $504,710 (-6.6%) 0.00 170
2023-10-01 $394,900 (-2.5%) $488,323 (-9.4%) 0.00 170
2023-11-01 $387,450 (-3.1%) $477,025 (-13.0%) 0.00 157
2023-12-01 $372,500 (-6.9%) $461,761 (-18.4%) 0.00 148
2024-01-01 $369,675 (-9.0%) $495,055 (-15.7%) 0.00 140
2024-02-01 $366,500 (-10.2%) $500,478 (-10.0%) 0.00 139
2024-03-01 $393,000 (-9.9%) $522,831 (-9.0%) 0.00 143
2024-04-01 $406,625 (-4.3%) $595,868 (4.0%) 0.00 155
2024-05-01 $445,975 (10.1%) $628,258 (15.0%) 0.00 173
2024-06-01 $399,900 (-1.0%) $567,618 (6.3%) 0.00 222
2024-07-01 $394,975 (-2.5%) $532,739 (-7.3%) 0.00 251
2024-08-01 $389,900 (-5.1%) $535,337 (4.4%) 0.00 246
2024-09-01 $388,400 (-2.9%) $538,186 (6.6%) 0.00 250
2024-10-01 $387,900 (-1.8%) $530,414 (8.6%) 0.00 234
Ontario's median listing price for 2024-10-01 was $387,900, a difference of $-7,000 (-1.8%) versus the prior year and $-500 versus the prior month.

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

Ontario's average listing price for 2024-10-01 was $530,414, a difference of $42,091 (8.6%) versus the prior year and $-7,772 versus the prior month.

For the 2024-10-01 period, Ontario had 234 MLS listings, a difference of -16 listings (-6%) versus the prior month and 64 listings (38%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Ontario (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,733 sqft
2018-02-01 0 days 1,758 sqft
2018-03-01 0 days 1,701 sqft
2018-04-01 0 days 1,844 sqft
2018-05-01 0 days 1,814 sqft
2018-06-01 0 days 1,793 sqft
2018-07-01 0 days 1,798 sqft
2018-08-01 0 days 1,900 sqft
2018-09-01 0 days 1,945 sqft
2018-10-01 0 days 2,034 sqft
2018-11-01 0 days 1,978 sqft
2018-12-01 0 days 1,928 sqft
2019-01-01 0 days 1,860 sqft
2019-02-01 0 days 1,850 sqft
2019-03-01 0 days 1,848 sqft
2019-04-01 0 days 1,848 sqft
2019-05-01 0 days 1,846 sqft
2019-06-01 0 days 1,844 sqft
2019-07-01 0 days 1,841 sqft
2019-08-01 0 days 1,876 sqft
2019-09-01 0 days 1,889 sqft
2019-10-01 0 days 1,920 sqft
2019-11-01 0 days 1,954 sqft
2019-12-01 0 days 1,951 sqft
2020-01-01 0 days 2,047 sqft
2020-02-01 0 days 1,894 sqft
2020-03-01 0 days 1,760 sqft
2020-04-01 0 days 1,756 sqft
2020-05-01 0 days 1,756 sqft
2020-06-01 0 days 2,015 sqft
2020-07-01 0 days 2,163 sqft
2020-08-01 0 days 2,240 sqft
2020-09-01 0 days 2,221 sqft
2020-10-01 0 days 1,930 sqft
2020-11-01 0 days 2,304 sqft
2020-12-01 0 days 2,048 sqft
2021-01-01 0 days 1,999 sqft
2021-02-01 0 days 1,750 sqft
2021-03-01 0 days 1,715 sqft
2021-04-01 0 days 2,006 sqft
2021-05-01 0 days 1,843 sqft
2021-06-01 0 days 1,928 sqft
2021-07-01 0 days 1,920 sqft
2021-08-01 0 days 1,961 sqft
2021-09-01 0 days 1,852 sqft
2021-10-01 0 days 1,923 sqft
2021-11-01 0 days 1,908 sqft
2021-12-01 0 days 1,990 sqft
2022-01-01 0 days 1,926 sqft
2022-02-01 0 days 1,870 sqft
2022-03-01 0 days 1,853 sqft
2022-04-01 0 days 1,885 sqft
2022-05-01 0 days 1,896 sqft
2022-06-01 0 days 1,869 sqft
2022-07-01 0 days 1,849 sqft
2022-08-01 0 days 1,872 sqft
2022-09-01 0 days 1,848 sqft
2022-10-01 0 days 1,908 sqft
2022-11-01 0 days 1,916 sqft
2022-12-01 0 days 1,909 sqft
2023-01-01 0 days 1,924 sqft
2023-02-01 0 days 1,948 sqft
2023-03-01 0 days 1,972 sqft
2023-04-01 0 days 1,994 sqft
2023-05-01 0 days 1,991 sqft
2023-06-01 0 days 1,983 sqft
2023-07-01 0 days 1,911 sqft
2023-08-01 0 days 1,820 sqft
2023-09-01 0 days 1,809 sqft
2023-10-01 0 days 1,809 sqft
2023-11-01 0 days 1,775 sqft
2023-12-01 0 days 1,712 sqft
2024-01-01 0 days 1,702 sqft
2024-02-01 0 days 1,708 sqft
2024-03-01 0 days 1,780 sqft
2024-04-01 0 days 1,800 sqft
2024-05-01 0 days 1,943 sqft
2024-06-01 0 days 1,725 sqft
2024-07-01 0 days 1,655 sqft
2024-08-01 0 days 1,714 sqft
2024-09-01 0 days 1,670 sqft
2024-10-01 0 days 1,729 sqft
Ontario's median listing age (time on market) for 2024-10-01 was 0 days.

Ontario's median square footage for active listings during the 2024-10-01 period was 1,729 sqft. One year prior, the average listing was 1,809 sqft.