Ottumwa USDA Loan Rates, Closing Costs & Stats

Ottumwa, IA

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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.

    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 6.85% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.7% and one month ago for the week of 2024-03-15, the average rate was 6.39%.

    The average rate one year ago was 6.53%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

    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
    Ottumwa's median listing price for 2024-03-01 was $149,450, a difference of $19,450 (15.0%) versus the prior year and $-7,950 versus the prior month.

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

    Ottumwa's average listing price for 2024-03-01 was $190,856, a difference of $25,069 (15.1%) versus the prior year and $1,083 versus the prior month.

    For the 2024-03-01 period, Ottumwa had 57 MLS listings, a difference of 2 listings (4%) versus the prior month and 10 listings (21%) 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
    Ottumwa's median listing age (time on market) for 2024-03-01 was 0 days.

    Ottumwa's median square footage for active listings during the 2024-03-01 period was 1,223 sqft. One year prior, the average listing was 1,468 sqft.