Ottumwa USDA Loan Rates, Closing Costs & Stats

Ottumwa, IA

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.

Ottumwa's 4 lenders originated 4 USDA loans during 2023. The total origination value was $550,000, with an average USDA loan value of $137,500.

Ottumwa USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Ottumwa averaged 6.32% for the week of 2024-12-06, compared to the national average (all USDA variants) of 6.328% for the same period.

Ottumwa's average USDA mortgage closing costs are $3,800.

The average rate for the prior week (2024-11-29) was 6.39% and one month ago for the week of 2024-11-01, the average rate was 6.54%.

The average rate one year ago was 7.16%.

For refis of the same type during the week of 2024-12-06, the average rate was 6.33%.

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

Ottumwa 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 Ottumwa level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.13% $5,064
Bank Iowa 1 5.63% $4,675
Fortress Bank 1 6.13% $3,933
IOWA BANKERS MORTGAGE CORPORATION 1 5.88% $3,479

The top Ottumwa USDA lender as defined by loan originations is AMERICAN PACIFIC MORTGAGE CORPORATION, with 1 USDA loans originated. Their average total fees are $5,064, which is $388 higher than the next largest lender, Bank Iowa.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Ottumwa (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 $84,950 (-17.1%) $116,556 (-7.8%) 0.00 114
2018-02-01 $81,250 (-21.6%) $106,350 (-17.1%) 0.00 120
2018-03-01 $82,750 (-27.3%) $114,085 (-15.3%) 0.00 120
2018-04-01 $88,850 (-22.7%) $124,103 (-8.1%) 0.00 125
2018-05-01 $94,900 (-9.1%) $125,821 (-7.6%) 0.00 127
2018-06-01 $93,950 (-14.0%) $124,857 (-11.1%) 0.00 136
2018-07-01 $89,000 (-13.6%) $121,065 (-11.5%) 0.00 151
2018-08-01 $91,175 (-9.2%) $121,446 (-10.4%) 0.00 157
2018-09-01 $89,900 (-10.0%) $122,630 (-3.0%) 0.00 156
2018-10-01 $100,875 (6.4%) $123,019 (4.2%) 0.00 148
2018-11-01 $107,250 (10.6%) $124,914 (6.8%) 0.00 145
2018-12-01 $107,750 (20.4%) $126,371 (9.4%) 0.00 142
2019-01-01 $110,725 (30.3%) $129,860 (11.4%) 0.00 132
2019-02-01 $105,000 (29.2%) $126,903 (19.3%) 0.00 128
2019-03-01 $105,943 (28.0%) $126,992 (11.3%) 0.00 120
2019-04-01 $110,493 (24.4%) $132,345 (6.6%) 0.00 117
2019-05-01 $105,225 (10.9%) $129,609 (3.0%) 0.00 131
2019-06-01 $102,500 (9.1%) $129,854 (4.0%) 0.00 129
2019-07-01 $109,475 (23.0%) $132,660 (9.6%) 0.00 135
2019-08-01 $110,382 (21.1%) $134,404 (10.7%) 0.00 134
2019-09-01 $118,605 (31.9%) $139,260 (13.6%) 0.00 133
2019-10-01 $125,000 (23.9%) $142,619 (15.9%) 0.00 135
2019-11-01 $128,250 (19.6%) $151,588 (21.4%) 0.00 129
2019-12-01 $127,000 (17.9%) $150,115 (18.8%) 0.00 117
2020-01-01 $129,350 (16.8%) $153,660 (18.3%) 0.00 114
2020-02-01 $129,000 (22.9%) $152,932 (20.5%) 0.00 107
2020-03-01 $143,125 (35.1%) $157,880 (24.3%) 0.00 107
2020-04-01 $146,350 (32.5%) $161,134 (21.8%) 0.00 106
2020-05-01 $152,000 (44.5%) $164,653 (27.0%) 0.00 101
2020-06-01 $155,000 (51.2%) $168,777 (30.0%) 0.00 84
2020-07-01 $147,000 (34.3%) $166,969 (25.9%) 0.00 71
2020-08-01 $157,500 (42.7%) $179,250 (33.4%) 0.00 70
2020-09-01 $142,875 (20.5%) $155,794 (11.9%) 0.00 68
2020-10-01 $115,000 (-8.0%) $133,399 (-6.5%) 0.00 63
2020-11-01 $125,000 (-2.5%) $136,676 (-9.8%) 0.00 72
2020-12-01 $122,500 (-3.5%) $140,221 (-6.6%) 0.00 59
2021-01-01 $98,000 (-24.2%) $124,376 (-19.1%) 0.00 52
2021-02-01 $104,250 (-19.2%) $140,564 (-8.1%) 0.00 53
2021-03-01 $103,750 (-27.5%) $136,548 (-13.5%) 0.00 52
2021-04-01 $108,250 (-26.0%) $134,749 (-16.4%) 0.00 44
2021-05-01 $129,450 (-14.8%) $146,236 (-11.2%) 0.00 45
2021-06-01 $128,750 (-16.9%) $141,866 (-15.9%) 0.00 45
2021-07-01 $108,000 (-26.5%) $130,660 (-21.8%) 0.00 47
2021-08-01 $101,875 (-35.3%) $119,634 (-33.3%) 0.00 59
2021-09-01 $102,250 (-28.4%) $117,458 (-24.6%) 0.00 54
2021-10-01 $105,000 (-8.7%) $121,577 (-8.9%) 0.00 62
2021-11-01 $101,600 (-18.7%) $121,946 (-10.8%) 0.00 54
2021-12-01 $97,500 (-20.4%) $115,114 (-17.9%) 0.00 50
2022-01-01 $89,000 (-9.2%) $114,103 (-8.3%) 0.00 46
2022-02-01 $99,675 (-4.4%) $134,818 (-4.1%) 0.00 45
2022-03-01 $115,000 (10.8%) $148,501 (8.8%) 0.00 46
2022-04-01 $124,950 (15.4%) $161,193 (19.6%) 0.00 43
2022-05-01 $142,375 (10.0%) $161,686 (10.6%) 0.00 56
2022-06-01 $121,850 (-5.4%) $152,965 (7.8%) 0.00 66
2022-07-01 $133,950 (24.0%) $160,544 (22.9%) 0.00 75
2022-08-01 $123,700 (21.4%) $164,101 (37.2%) 0.00 58
2022-09-01 $122,000 (19.3%) $168,942 (43.8%) 0.00 61
2022-10-01 $131,250 (25.0%) $177,315 (45.9%) 0.00 66
2022-11-01 $133,125 (31.0%) $184,067 (50.9%) 0.00 65
2022-12-01 $133,750 (37.2%) $171,429 (48.9%) 0.00 70
2023-01-01 $138,450 (55.6%) $172,730 (51.4%) 0.00 64
2023-02-01 $133,750 (34.2%) $165,178 (22.5%) 0.00 54
2023-03-01 $130,000 (13.0%) $165,787 (11.6%) 0.00 47
2023-04-01 $139,950 (12.0%) $178,473 (10.7%) 0.00 38
2023-05-01 $177,350 (24.6%) $205,180 (26.9%) 0.00 52
2023-06-01 $166,100 (36.3%) $199,480 (30.4%) 0.00 56
2023-07-01 $174,000 (29.9%) $210,512 (31.1%) 0.00 58
2023-08-01 $156,625 (26.6%) $214,512 (30.7%) 0.00 63
2023-09-01 $159,900 (31.1%) $200,985 (19.0%) 0.00 58
2023-10-01 $146,975 (12.0%) $188,022 (6.0%) 0.00 65
2023-11-01 $155,600 (16.9%) $201,311 (9.4%) 0.00 65
2023-12-01 $153,750 (15.0%) $196,585 (14.7%) 0.00 65
2024-01-01 $145,725 (5.3%) $178,148 (3.1%) 0.00 58
2024-02-01 $157,400 (17.7%) $189,773 (14.9%) 0.00 55
2024-03-01 $149,450 (15.0%) $190,856 (15.1%) 0.00 57
2024-04-01 $162,925 (16.4%) $192,154 (7.7%) 0.00 58
2024-05-01 $169,375 (-4.5%) $202,686 (-1.2%) 0.00 59
2024-06-01 $169,500 (2.1%) $209,427 (5.0%) 0.00 74
2024-07-01 $166,250 (-4.5%) $202,768 (-3.7%) 0.00 97
2024-08-01 $159,900 (2.1%) $196,462 (-8.4%) 0.00 103
2024-09-01 $159,625 (-0.2%) $196,770 (-2.1%) 0.00 113
2024-10-01 $157,838 (7.4%) $190,618 (1.4%) 0.00 131
2024-11-01 $163,000 (4.8%) $194,368 (-3.5%) 0.00 129
Ottumwa's median listing price for 2024-11-01 was $163,000, a difference of $7,400 (4.8%) versus the prior year and $5,162 versus the prior month.

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

Ottumwa's average listing price for 2024-11-01 was $194,368, a difference of $-6,943 (-3.5%) versus the prior year and $3,750 versus the prior month.

For the 2024-11-01 period, Ottumwa had 129 MLS listings, a difference of -2 listings (-2%) versus the prior month and 64 listings (98%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Ottumwa (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,286 sqft
2018-02-01 0 days 1,262 sqft
2018-03-01 0 days 1,250 sqft
2018-04-01 0 days 1,330 sqft
2018-05-01 0 days 1,296 sqft
2018-06-01 0 days 1,358 sqft
2018-07-01 0 days 1,308 sqft
2018-08-01 0 days 1,296 sqft
2018-09-01 0 days 1,308 sqft
2018-10-01 0 days 1,356 sqft
2018-11-01 0 days 1,384 sqft
2018-12-01 0 days 1,357 sqft
2019-01-01 0 days 1,376 sqft
2019-02-01 0 days 1,422 sqft
2019-03-01 0 days 1,442 sqft
2019-04-01 0 days 1,465 sqft
2019-05-01 0 days 1,452 sqft
2019-06-01 0 days 1,440 sqft
2019-07-01 0 days 1,446 sqft
2019-08-01 0 days 1,423 sqft
2019-09-01 0 days 1,396 sqft
2019-10-01 0 days 1,376 sqft
2019-11-01 0 days 1,434 sqft
2019-12-01 0 days 1,356 sqft
2020-01-01 0 days 1,665 sqft
2020-02-01 0 days 1,392 sqft
2020-03-01 0 days 1,401 sqft
2020-04-01 0 days 1,500 sqft
2020-05-01 0 days 1,456 sqft
2020-06-01 0 days 1,459 sqft
2020-07-01 0 days 1,460 sqft
2020-08-01 0 days 1,500 sqft
2020-09-01 0 days 1,479 sqft
2020-10-01 0 days 1,380 sqft
2020-11-01 0 days 1,444 sqft
2020-12-01 0 days 1,428 sqft
2021-01-01 0 days 1,318 sqft
2021-02-01 0 days 1,297 sqft
2021-03-01 0 days 1,285 sqft
2021-04-01 0 days 1,238 sqft
2021-05-01 0 days 1,362 sqft
2021-06-01 0 days 1,303 sqft
2021-07-01 0 days 1,152 sqft
2021-08-01 0 days 1,179 sqft
2021-09-01 0 days 1,225 sqft
2021-10-01 0 days 1,242 sqft
2021-11-01 0 days 1,170 sqft
2021-12-01 0 days 1,153 sqft
2022-01-01 0 days 1,150 sqft
2022-02-01 0 days 1,175 sqft
2022-03-01 0 days 1,292 sqft
2022-04-01 0 days 1,292 sqft
2022-05-01 0 days 1,303 sqft
2022-06-01 0 days 1,316 sqft
2022-07-01 0 days 1,344 sqft
2022-08-01 0 days 1,370 sqft
2022-09-01 0 days 1,382 sqft
2022-10-01 0 days 1,430 sqft
2022-11-01 0 days 1,488 sqft
2022-12-01 0 days 1,380 sqft
2023-01-01 0 days 1,314 sqft
2023-02-01 0 days 1,344 sqft
2023-03-01 0 days 1,468 sqft
2023-04-01 0 days 1,405 sqft
2023-05-01 0 days 1,512 sqft
2023-06-01 0 days 1,401 sqft
2023-07-01 0 days 1,388 sqft
2023-08-01 0 days 1,462 sqft
2023-09-01 0 days 1,404 sqft
2023-10-01 0 days 1,410 sqft
2023-11-01 0 days 1,470 sqft
2023-12-01 0 days 1,469 sqft
2024-01-01 0 days 1,443 sqft
2024-02-01 0 days 1,458 sqft
2024-03-01 0 days 1,223 sqft
2024-04-01 0 days 1,196 sqft
2024-05-01 0 days 1,244 sqft
2024-06-01 0 days 1,304 sqft
2024-07-01 0 days 1,228 sqft
2024-08-01 0 days 1,220 sqft
2024-09-01 0 days 1,212 sqft
2024-10-01 0 days 1,231 sqft
2024-11-01 0 days 1,230 sqft
Ottumwa's median listing age (time on market) for 2024-11-01 was 0 days.

Ottumwa's median square footage for active listings during the 2024-11-01 period was 1,230 sqft. One year prior, the average listing was 1,470 sqft.