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 5 lenders originated 7 USDA loans during 2023. The total origination value was $1,565,000, with an average USDA loan value of $223,571.
Owatonna USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Owatonna
averaged
0.07%
for the week of 2024-11-29, compared to the national average (all USDA variants) of
0% for the same period.
Owatonna's average USDA mortgage closing costs are $5,434.
The average rate for the prior week (2024-11-22) was
6.77% and
one month ago for the week of 2024-10-25, the
average rate was 6.57%.
The average rate one year ago was 7.07%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.1%.
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
Bremer Bank | 2 | 6.75% | $7,401 |
AMERICAN PORTFOLIO MORTGAGE CORPORATION | 1 | 5.63% | $7,303 |
CROSSCOUNTRY MORTGAGE, LLC | 1 | 6.88% | $9,582 |
IOWA BANKERS MORTGAGE CORPORATION | 1 | 6.50% | $3,798 |
UNITED WHOLESALE MORTGAGE, LLC | 1 | 5.05% | $11,397 |
The top Owatonna USDA lender as defined by loan originations is Bremer Bank, with
2 USDA loans originated. Their average total fees are
$7,401, which is $98
higher than the next largest lender,
AMERICAN PORTFOLIO MORTGAGE CORPORATION.
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. LouisDate | 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 |
2024-01-01 | $322,325 (11.3%) | $345,662 (5.0%) | 0.00 | 33 |
2024-02-01 | $349,900 (21.9%) | $351,267 (1.0%) | 0.00 | 31 |
2024-03-01 | $359,000 (24.5%) | $349,749 (4.1%) | 0.00 | 26 |
2024-04-01 | $342,000 (0.9%) | $364,270 (-8.1%) | 0.00 | 35 |
2024-05-01 | $352,400 (5.2%) | $379,578 (-0.5%) | 0.00 | 43 |
2024-06-01 | $349,900 (15.5%) | $373,098 (4.7%) | 0.00 | 42 |
2024-07-01 | $347,000 (15.7%) | $370,398 (5.0%) | 0.00 | 47 |
2024-08-01 | $339,200 (19.9%) | $396,415 (19.9%) | 0.00 | 55 |
2024-09-01 | $339,950 (6.4%) | $403,266 (9.5%) | 0.00 | 60 |
2024-10-01 | $335,950 (-1.2%) | $394,665 (6.7%) | 0.00 | 68 |
Owatonna's median listing price comes in at 0% of the national average.
Owatonna's average listing price for 2024-10-01 was $394,665, a difference of $24,842 (6.7%) versus the prior year and $-8,601 versus the prior month.
For the 2024-10-01 period, Owatonna had 68 MLS listings, a difference of 8 listings (13%) versus the prior month and 18 listings (36%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Owatonna (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 |
2024-01-01 | 0 days | 1,943 sqft |
2024-02-01 | 0 days | 1,944 sqft |
2024-03-01 | 0 days | 1,984 sqft |
2024-04-01 | 0 days | 1,992 sqft |
2024-05-01 | 0 days | 2,043 sqft |
2024-06-01 | 0 days | 2,374 sqft |
2024-07-01 | 0 days | 2,161 sqft |
2024-08-01 | 0 days | 2,099 sqft |
2024-09-01 | 0 days | 2,224 sqft |
2024-10-01 | 0 days | 2,089 sqft |
Owatonna's median square footage for active listings during the 2024-10-01 period was 2,089 sqft. One year prior, the average listing was 2,235 sqft.