Pella USDA Loan Rates, Closing Costs & Stats
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.
Pella's 12 lenders originated 28 USDA loans during 2022. The total origination value was $4,320,000, with an average USDA loan value of $154,286.
Pella USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Pella
for the week of 2023-11-24, compared to the national average (all USDA variants) of
0% for the same period.
Pella's average USDA mortgage closing costs are $3,899.
The average rate for the prior week (2023-11-17) was 6.24% and one month ago for the week of 2023-10-20, the average rate was 6.66%.
The average rate one year ago was 6%.
For refis of the same type during the week of 2023-11-24, the average rate was 0.1%.
Pella 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 Pella level.
|Name||# of Loans||2022 Avg. 30yFix Rate||2022 Avg. Closing Costs|
|HOMESERVICES LENDING, LLC||4||3.59%||$4,587|
|Great Southern Bank||3||4.13%||$3,892|
|IOWA BANKERS MORTGAGE CORPORATION||3||4.08%||$5,150|
|Wells Fargo Bank||2||3.88%||$5,117|
|TOP FLITE FINANCIAL, INC.||2||6.06%||$7,685|
|LAND HOME FINANCIAL SERVICES, INC.||1||4.88%||$3,489|
|The Central Trust Bank||1||2.75%||$4,524|
|GUILD MORTGAGE COMPANY||1||3.38%||$4,830|
|FAIRWAY INDEPENDENT MORTGAGE CORPORATION||1||5.75%||$4,770|
|BROKER SOLUTIONS, INC.||1||3.75%||$4,252|
The top Pella USDA lender as defined by loan originations is HOMESERVICES LENDING, LLC, with
4 USDA loans originated. Their average total fees are
$4,587, which is $695
higher than the next largest lender,
Great Southern Bank.
The lowest fee Pella USDA lenders (with over 10 loans originated) are .
The lowest rate Pella USDA lenders (with over 10 loans originated) are .