Ontario USDA Loan Rates, Closing Costs & Stats

Ontario, OR-ID

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    • 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 6.82% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.67% and one month ago for the week of 2024-03-15, the average rate was 6.45%.

    The average rate one year ago was 6.09%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

    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
    Ontario's median listing price for 2024-03-01 was $393,000, a difference of $-43,175 (-9.9%) versus the prior year and $26,500 versus the prior month.

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

    Ontario's average listing price for 2024-03-01 was $522,831, a difference of $-51,373 (-9.0%) versus the prior year and $22,353 versus the prior month.

    For the 2024-03-01 period, Ontario had 143 MLS listings, a difference of 4 listings (3%) versus the prior month and 14 listings (11%) 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
    Ontario's median listing age (time on market) for 2024-03-01 was 0 days.

    Ontario's median square footage for active listings during the 2024-03-01 period was 1,780 sqft. One year prior, the average listing was 1,972 sqft.