Owatonna USDA Loan Rates, Closing Costs & Stats

Owatonna, MN

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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.

    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 6.73% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Owatonna's average USDA mortgage closing costs are $5,434.

    The average rate for the prior week (2024-04-12) was 6.89% and one month ago for the week of 2024-03-15, the average rate was 6.67%.

    The average rate one year ago was 6.51%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

    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 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. 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
    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
    Owatonna's median listing price for 2024-03-01 was $359,000, a difference of $70,575 (24.5%) versus the prior year and $9,100 versus the prior month.

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

    Owatonna's average listing price for 2024-03-01 was $349,749, a difference of $13,851 (4.1%) versus the prior year and $-1,518 versus the prior month.

    For the 2024-03-01 period, Owatonna had 26 MLS listings, a difference of -5 listings (-16%) versus the prior month and 4 listings (18%) 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
    2024-01-01 0 days 1,943 sqft
    2024-02-01 0 days 1,944 sqft
    2024-03-01 0 days 1,984 sqft
    Owatonna's median listing age (time on market) for 2024-03-01 was 0 days.

    Owatonna's median square footage for active listings during the 2024-03-01 period was 1,984 sqft. One year prior, the average listing was 1,825 sqft.