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%.
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. LouisDate | 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 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. LouisDate | 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 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.