Owatonna USDA Loan Rates, Closing Costs & Stats

Owatonna, MN

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.

Owatonna's 16 lenders originated 24 USDA loans during 2022. The total origination value was $4,970,000, with an average USDA loan value of $207,083.

Owatonna USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Owatonna averaged -0.26% for the week of 2024-02-23, compared to the national average (all USDA variants) of 0% for the same period.

Owatonna's average USDA mortgage closing costs are $5,369.

The average rate for the prior week (2024-02-16) was 6.42% and one month ago for the week of 2024-01-19, the average rate was 6.01%.

The average rate one year ago was 6.21%.

For refis of the same type during the week of 2024-02-23, the average rate was 0%.

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

Owatonna 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 Owatonna level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
CROSSCOUNTRY MORTGAGE, LLC 4 5.25% $7,415
TOWNE MORTGAGE COMPANY 4 4.03% $4,671
BAY EQUITY LLC 1 5.75% $10,053
Bell Bank 1 3.75% $6,452
Bremer Bank 1 5.13% $7,862
CHURCHILL MORTGAGE CORPORATION 1 3.13% $4,939
Frandsen Bank & Trust 1 3.75% $10,693
American Mortgage & Equity Consultants, Inc. 1 3.25% $8,049
HOME POINT FINANCIAL CORPORATION 1 3.13% $7,441
LOANDEPOT.COM, LLC 1 4.00% $7,388
NEWREZ LLC 1 6.75% $4,674
Old National Bank 1 5.00% $6,203
Plains Commerce Bank 1 2.88% $6,074
PLAZA HOME MORTGAGE, INC. 1 6.13% $6,962
GUARANTEED RATE, INC. 1 3.38% $5,531
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 4.75% $9,333

The top Owatonna USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 4 USDA loans originated. Their average total fees are $7,415, which is $2,744 higher than the next largest lender, TOWNE MORTGAGE COMPANY.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Owatonna (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 $199,700 (35.5%) $236,700 (29.4%) 0.00 68
2018-02-01 $184,800 (15.6%) $222,855 (14.1%) 0.00 69
2018-03-01 $202,250 (33.5%) $232,882 (18.4%) 0.00 71
2018-04-01 $221,600 (27.0%) $252,251 (17.1%) 0.00 71
2018-05-01 $212,700 (0.2%) $244,073 (4.0%) 0.00 78
2018-06-01 $215,000 (2.4%) $241,586 (3.7%) 0.00 82
2018-07-01 $206,150 (-3.0%) $239,150 (3.7%) 0.00 81
2018-08-01 $212,725 (0.7%) $244,981 (4.9%) 0.00 88
2018-09-01 $206,750 (-4.7%) $239,989 (0.1%) 0.00 100
2018-10-01 $202,450 (-6.7%) $233,853 (-3.0%) 0.00 103
2018-11-01 $197,900 (-2.0%) $216,729 (-7.6%) 0.00 106
2018-12-01 $199,500 (-7.2%) $216,929 (-8.4%) 0.00 98
2019-01-01 $201,450 (0.9%) $218,470 (-7.7%) 0.00 85
2019-02-01 $209,450 (13.3%) $225,248 (1.1%) 0.00 76
2019-03-01 $210,471 (4.1%) $231,728 (-0.5%) 0.00 74
2019-04-01 $208,996 (-5.7%) $231,794 (-8.1%) 0.00 86
2019-05-01 $221,150 (4.0%) $240,377 (-1.5%) 0.00 100
2019-06-01 $228,900 (6.5%) $244,643 (1.3%) 0.00 98
2019-07-01 $241,750 (17.3%) $253,429 (6.0%) 0.00 104
2019-08-01 $227,587 (7.0%) $247,732 (1.1%) 0.00 107
2019-09-01 $224,117 (8.4%) $243,371 (1.4%) 0.00 112
2019-10-01 $223,570 (10.4%) $240,866 (3.0%) 0.00 110
2019-11-01 $231,400 (16.9%) $251,393 (16.0%) 0.00 100
2019-12-01 $228,900 (14.7%) $246,605 (13.7%) 0.00 87
2020-01-01 $223,425 (10.9%) $243,065 (11.3%) 0.00 74
2020-02-01 $218,900 (4.5%) $241,745 (7.3%) 0.00 64
2020-03-01 $215,550 (2.4%) $242,147 (4.5%) 0.00 64
2020-04-01 $219,450 (5.0%) $251,511 (8.5%) 0.00 55
2020-05-01 $249,000 (12.6%) $253,389 (5.4%) 0.00 71
2020-06-01 $253,900 (10.9%) $264,222 (8.0%) 0.00 71
2020-07-01 $257,150 (6.4%) $268,655 (6.0%) 0.00 54
2020-08-01 $249,900 (9.8%) $266,310 (7.5%) 0.00 62
2020-09-01 $243,650 (8.7%) $265,673 (9.2%) 0.00 61
2020-10-01 $229,900 (2.8%) $264,204 (9.7%) 0.00 46
2020-11-01 $206,575 (-10.7%) $259,009 (3.0%) 0.00 45
2020-12-01 $202,400 (-11.6%) $243,729 (-1.2%) 0.00 31
2021-01-01 $199,700 (-10.6%) $234,870 (-3.4%) 0.00 26
2021-02-01 $199,250 (-9.0%) $228,660 (-5.4%) 0.00 25
2021-03-01 $233,725 (8.4%) $252,995 (4.5%) 0.00 27
2021-04-01 $264,900 (20.7%) $269,072 (7.0%) 0.00 30
2021-05-01 $224,900 (-9.7%) $253,344 (0.0%) 0.00 24
2021-06-01 $253,300 (-0.2%) $279,867 (5.9%) 0.00 25
2021-07-01 $239,900 (-6.7%) $264,231 (-1.7%) 0.00 39
2021-08-01 $256,250 (2.5%) $258,912 (-2.8%) 0.00 36
2021-09-01 $240,000 (-1.5%) $252,614 (-4.9%) 0.00 54
2021-10-01 $229,900 (0.0%) $240,763 (-8.9%) 0.00 49
2021-11-01 $235,950 (14.2%) $248,581 (-4.0%) 0.00 48
2021-12-01 $232,425 (14.8%) $259,171 (6.3%) 0.00 38
2022-01-01 $234,900 (17.6%) $263,667 (12.3%) 0.00 33
2022-02-01 $249,150 (25.0%) $246,421 (7.8%) 0.00 21
2022-03-01 $226,950 (-2.9%) $254,485 (0.6%) 0.00 19
2022-04-01 $274,900 (3.8%) $267,500 (-0.6%) 0.00 21
2022-05-01 $275,950 (22.7%) $303,323 (19.7%) 0.00 31
2022-06-01 $263,350 (4.0%) $279,666 (-0.1%) 0.00 39
2022-07-01 $279,000 (16.3%) $296,218 (12.1%) 0.00 42
2022-08-01 $279,750 (9.2%) $305,129 (17.9%) 0.00 50
2022-09-01 $276,250 (15.1%) $301,202 (19.2%) 0.00 43
2022-10-01 $289,900 (26.1%) $312,143 (29.7%) 0.00 46
2022-11-01 $284,900 (20.8%) $305,718 (23.0%) 0.00 50
2022-12-01 $286,950 (23.5%) $317,225 (22.4%) 0.00 39
2023-01-01 $289,675 (23.3%) $329,345 (24.9%) 0.00 34
2023-02-01 $286,950 (15.2%) $347,817 (41.2%) 0.00 30
2023-03-01 $288,425 (27.1%) $335,898 (32.0%) 0.00 22
2023-04-01 $339,000 (23.3%) $396,304 (48.2%) 0.00 21
2023-05-01 $334,925 (21.4%) $381,585 (25.8%) 0.00 23
2023-06-01 $302,950 (15.0%) $356,509 (27.5%) 0.00 25
2023-07-01 $299,900 (7.5%) $352,800 (19.1%) 0.00 37
2023-08-01 $283,000 (1.2%) $330,539 (8.3%) 0.00 44
2023-09-01 $319,500 (15.7%) $368,178 (22.2%) 0.00 49
2023-10-01 $339,900 (17.3%) $369,823 (18.5%) 0.00 50
2023-11-01 $309,800 (8.7%) $335,772 (9.8%) 0.00 47
2023-12-01 $299,900 (4.5%) $319,779 (0.8%) 0.00 37
Owatonna's median listing price for 2023-12-01 was $299,900, a difference of $12,950 (4.5%) versus the prior year and $-9,900 versus the prior month.

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

Owatonna's average listing price for 2023-12-01 was $319,779, a difference of $2,554 (0.8%) versus the prior year and $-15,993 versus the prior month.

For the 2023-12-01 period, Owatonna had 37 MLS listings, a difference of -10 listings (-21%) versus the prior month and -2 listings (-5%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Owatonna (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,560 sqft
2018-02-01 0 days 2,468 sqft
2018-03-01 0 days 2,404 sqft
2018-04-01 0 days 2,499 sqft
2018-05-01 0 days 2,356 sqft
2018-06-01 0 days 2,498 sqft
2018-07-01 0 days 2,374 sqft
2018-08-01 0 days 2,437 sqft
2018-09-01 0 days 2,428 sqft
2018-10-01 0 days 2,372 sqft
2018-11-01 0 days 2,303 sqft
2018-12-01 0 days 2,253 sqft
2019-01-01 0 days 1,855 sqft
2019-02-01 0 days 1,906 sqft
2019-03-01 0 days 1,873 sqft
2019-04-01 0 days 1,863 sqft
2019-05-01 0 days 1,956 sqft
2019-06-01 0 days 2,011 sqft
2019-07-01 0 days 2,001 sqft
2019-08-01 0 days 1,979 sqft
2019-09-01 0 days 1,946 sqft
2019-10-01 0 days 1,938 sqft
2019-11-01 0 days 2,036 sqft
2019-12-01 0 days 2,013 sqft
2020-01-01 0 days 1,986 sqft
2020-02-01 0 days 1,760 sqft
2020-03-01 0 days 1,777 sqft
2020-04-01 0 days 1,997 sqft
2020-05-01 0 days 1,918 sqft
2020-06-01 0 days 2,093 sqft
2020-07-01 0 days 2,143 sqft
2020-08-01 0 days 2,175 sqft
2020-09-01 0 days 2,130 sqft
2020-10-01 0 days 1,890 sqft
2020-11-01 0 days 1,801 sqft
2020-12-01 0 days 1,750 sqft
2021-01-01 0 days 1,645 sqft
2021-02-01 0 days 1,790 sqft
2021-03-01 0 days 1,800 sqft
2021-04-01 0 days 1,858 sqft
2021-05-01 0 days 1,842 sqft
2021-06-01 0 days 1,823 sqft
2021-07-01 0 days 1,813 sqft
2021-08-01 0 days 1,844 sqft
2021-09-01 0 days 1,933 sqft
2021-10-01 0 days 1,813 sqft
2021-11-01 0 days 1,828 sqft
2021-12-01 0 days 1,785 sqft
2022-01-01 0 days 1,779 sqft
2022-02-01 0 days 2,047 sqft
2022-03-01 0 days 2,185 sqft
2022-04-01 0 days 2,500 sqft
2022-05-01 0 days 1,958 sqft
2022-06-01 0 days 1,850 sqft
2022-07-01 0 days 2,034 sqft
2022-08-01 0 days 2,014 sqft
2022-09-01 0 days 1,926 sqft
2022-10-01 0 days 1,932 sqft
2022-11-01 0 days 1,886 sqft
2022-12-01 0 days 1,868 sqft
2023-01-01 0 days 1,893 sqft
2023-02-01 0 days 1,847 sqft
2023-03-01 0 days 1,825 sqft
2023-04-01 0 days 2,025 sqft
2023-05-01 0 days 2,059 sqft
2023-06-01 0 days 1,993 sqft
2023-07-01 0 days 1,915 sqft
2023-08-01 0 days 1,961 sqft
2023-09-01 0 days 2,000 sqft
2023-10-01 0 days 2,235 sqft
2023-11-01 0 days 1,969 sqft
2023-12-01 0 days 1,976 sqft
Owatonna's median listing age (time on market) for 2023-12-01 was 0 days.

Owatonna's median square footage for active listings during the 2023-12-01 period was 1,976 sqft. One year prior, the average listing was 1,868 sqft.