Peoria USDA Loan Rates, Closing Costs & Stats

PEORIA, IL

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.

Peoria's 24 lenders originated 127 USDA loans during 2022. The total origination value was $13,275,000, with an average USDA loan value of $104,528.

Peoria USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Peoria averaged -0.16% for the week of 2024-02-23, compared to the national average (all USDA variants) of 0% for the same period.

Peoria's average USDA mortgage closing costs are $3,484.

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 6.4%.

The average rate one year ago was 6.31%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.05%.

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

Peoria 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 Peoria level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
FLAT BRANCH MORTGAGE, INC. 47 5.36% $3,692
CALIBER HOME LOANS, INC. 17 4.93% $4,195
Flanagan State Bank 9 5.13% $4,719
FIRST STATE MORTGAGE SERVICES, LLC 8 4.31% $3,368
LEADERONE FINANCIAL CORPORATION 4 5.78% $3,557
CITIZENS EQUITY FIRST 4 4.50% $1,947
INLAND BANK & TRUST 4 4.81% $4,643
UNITED WHOLESALE MORTGAGE, LLC 3 6.48% $3,900
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.87% $4,772
Flagstar Bank, FSB 3 4.25% $3,967
Petefish, Skiles & Co. 3 4.92% $3,497
Fortress Bank 3 6.00% $3,309
Wells Fargo Bank 2 5.50% $3,404
GUARANTEED RATE, INC. 2 5.00% $6,357
HOME POINT FINANCIAL CORPORATION 2 4.31% $3,540
Paramount Residential Mortgage Group, Inc. 2 3.63% $5,017
Town & Country Banc Mortgage Services 2 5.25% $4,058
LAKEVIEW LOAN SERVICING, LLC 1 3.25% $2,477
FIRST CENTENNIAL MORTGAGE CORPORATION 1 4.38% $5,266
CARDINAL FINANCIAL 1 5.50% $8,018
CROSSCOUNTRY MORTGAGE, LLC 1 4.56% $5,636
Heartland Bank and Trust Company 1 5.75% $3,674
Bank of England 1 3.88% $4,062
First Mid Bank & Trust 1 2.38% $2,984

The top Peoria USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 47 USDA loans originated. Their average total fees are $3,692, which is $502 lower than the next largest lender, CALIBER HOME LOANS, INC..

The lowest fee Peoria USDA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. ($3,692), CALIBER HOME LOANS, INC. ($4,195), .

The lowest rate Peoria USDA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. (4.93%), FLAT BRANCH MORTGAGE, INC. (5.36%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Peoria (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 $134,900 (0.0%) $174,475 (-2.6%) 0.50 2,140
2018-02-01 $134,900 (-0.1%) $175,751 (-2.1%) 0.49 2,139
2018-03-01 $132,500 (-7.9%) $173,616 (-7.6%) 0.46 2,354
2018-04-01 $134,900 (-8.4%) $174,601 (-9.5%) 0.46 2,382
2018-05-01 $138,125 (-6.4%) $176,978 (-10.3%) 0.46 2,471
2018-06-01 $139,900 (-6.7%) $179,913 (-10.4%) 0.47 2,497
2018-07-01 $139,900 (-6.7%) $179,909 (-9.7%) 0.47 2,561
2018-08-01 $138,375 (-7.7%) $179,465 (-8.0%) 0.46 2,562
2018-09-01 $134,900 (-6.9%) $174,798 (-7.9%) 0.45 2,501
2018-10-01 $134,000 (-4.3%) $171,702 (-6.2%) 0.45 2,466
2018-11-01 $129,900 (-7.2%) $169,681 (-6.5%) 0.44 2,257
2018-12-01 $129,200 (-7.1%) $164,858 (-6.5%) 0.45 2,057
2019-01-01 $128,500 (-4.7%) $163,327 (-6.4%) 0.44 1,877
2019-02-01 $129,900 (-3.7%) $164,601 (-6.3%) 0.44 1,846
2019-03-01 $133,157 (0.5%) $169,303 (-2.5%) 0.44 1,866
2019-04-01 $138,100 (2.4%) $174,941 (0.2%) 0.44 1,908
2019-05-01 $137,500 (-0.5%) $177,630 (0.4%) 0.43 2,000
2019-06-01 $139,000 (-0.6%) $178,215 (-0.9%) 0.43 2,057
2019-07-01 $138,328 (-1.1%) $179,357 (-0.3%) 0.43 2,097
2019-08-01 $136,086 (-1.7%) $177,420 (-1.1%) 0.43 2,156
2019-09-01 $133,731 (-0.9%) $176,192 (0.8%) 0.43 2,179
2019-10-01 $130,900 (-2.3%) $174,959 (1.9%) 0.42 2,196
2019-11-01 $129,500 (-0.3%) $170,314 (0.4%) 0.42 2,135
2019-12-01 $123,200 (-4.6%) $164,704 (-0.1%) 0.41 1,983
2020-01-01 $121,123 (-5.7%) $164,116 (0.5%) 0.40 1,825
2020-02-01 $122,500 (-5.7%) $165,235 (0.4%) 0.40 1,724
2020-03-01 $127,200 (-4.5%) $169,918 (0.4%) 0.40 1,736
2020-04-01 $129,900 (-5.9%) $173,888 (-0.6%) 0.41 1,703
2020-05-01 $129,900 (-5.5%) $183,042 (3.1%) 0.39 1,661
2020-06-01 $132,700 (-4.5%) $183,922 (3.2%) 0.39 1,541
2020-07-01 $134,900 (-2.5%) $184,504 (2.9%) 0.39 1,460
2020-08-01 $129,900 (-4.6%) $177,857 (0.3%) 0.37 1,389
2020-09-01 $124,950 (-6.6%) $178,233 (1.2%) 0.36 1,308
2020-10-01 $122,500 (-6.4%) $177,586 (1.5%) 0.35 1,259
2020-11-01 $116,975 (-9.7%) $174,448 (2.4%) 0.34 1,200
2020-12-01 $114,900 (-6.7%) $168,340 (2.2%) 0.34 1,091
2021-01-01 $109,900 (-9.3%) $165,571 (0.9%) 0.33 990
2021-02-01 $104,350 (-14.8%) $160,311 (-3.0%) 0.30 854
2021-03-01 $102,500 (-19.4%) $164,939 (-2.9%) 0.29 769
2021-04-01 $112,400 (-13.5%) $185,456 (6.7%) 0.30 672
2021-05-01 $115,000 (-11.5%) $196,125 (7.2%) 0.31 647
2021-06-01 $119,900 (-9.7%) $202,681 (10.2%) 0.32 687
2021-07-01 $120,000 (-11.1%) $199,079 (7.9%) 0.32 797
2021-08-01 $124,900 (-3.9%) $199,566 (12.2%) 0.33 808
2021-09-01 $119,950 (-4.0%) $197,093 (10.6%) 0.32 861
2021-10-01 $115,900 (-5.4%) $187,064 (5.3%) 0.31 828
2021-11-01 $109,950 (-6.0%) $177,083 (1.5%) 0.29 788
2021-12-01 $106,200 (-7.6%) $175,945 (4.5%) 0.29 649
2022-01-01 $99,900 (-9.1%) $170,279 (2.8%) 0.27 555
2022-02-01 $97,100 (-7.0%) $174,974 (9.2%) 0.25 448
2022-03-01 $109,900 (7.2%) $204,699 (24.1%) 0.28 413
2022-04-01 $112,900 (0.4%) $210,956 (13.8%) 0.27 397
2022-05-01 $144,750 (25.9%) $236,201 (20.4%) 0.33 440
2022-06-01 $157,800 (31.6%) $232,823 (14.9%) 0.35 536
2022-07-01 $159,000 (32.5%) $234,291 (17.7%) 0.36 663
2022-08-01 $158,925 (27.2%) $238,756 (19.6%) 0.37 696
2022-09-01 $156,450 (30.4%) $238,652 (21.1%) 0.37 702
2022-10-01 $151,900 (31.1%) $230,510 (23.2%) 0.36 713
2022-11-01 $149,675 (36.1%) $221,211 (24.9%) 0.36 680
2022-12-01 $139,900 (31.7%) $212,237 (20.6%) 0.35 593
2023-01-01 $139,950 (40.1%) $215,305 (26.4%) 0.35 511
2023-02-01 $137,900 (42.0%) $218,163 (24.7%) 0.33 409
2023-03-01 $147,400 (34.1%) $232,638 (13.7%) 0.35 354
2023-04-01 $159,000 (40.8%) $239,231 (13.4%) 0.37 342
2023-05-01 $168,200 (16.2%) $253,985 (7.5%) 0.38 354
2023-06-01 $179,700 (13.9%) $260,495 (11.9%) 0.40 364
2023-07-01 $184,900 (16.3%) $250,548 (6.9%) 0.42 383
2023-08-01 $172,425 (8.5%) $249,148 (4.4%) 0.40 398
2023-09-01 $178,900 (14.4%) $254,315 (6.6%) 0.42 438
2023-10-01 $169,900 (11.9%) $244,267 (6.0%) 0.40 494
2023-11-01 $157,000 (4.9%) $230,322 (4.1%) 0.37 519
2023-12-01 $149,900 (7.2%) $222,021 (4.6%) 0.37 495
Peoria's median listing price for 2023-12-01 was $149,900, a difference of $10,000 (7.2%) versus the prior year and $-7,100 versus the prior month.

Peoria's median listing price comes in at 37% of the national average.

Peoria's average listing price for 2023-12-01 was $222,021, a difference of $9,784 (4.6%) versus the prior year and $-8,301 versus the prior month.

For the 2023-12-01 period, Peoria had 495 MLS listings, a difference of -24 listings (-5%) versus the prior month and -98 listings (-17%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Peoria (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 96 days 1,853 sqft
2018-02-01 95 days 1,860 sqft
2018-03-01 66 days 1,855 sqft
2018-04-01 58 days 1,876 sqft
2018-05-01 64 days 1,898 sqft
2018-06-01 61 days 1,896 sqft
2018-07-01 66 days 1,899 sqft
2018-08-01 67 days 1,882 sqft
2018-09-01 72 days 1,870 sqft
2018-10-01 78 days 1,849 sqft
2018-11-01 79 days 1,844 sqft
2018-12-01 87 days 1,801 sqft
2019-01-01 88 days 1,805 sqft
2019-02-01 89 days 1,774 sqft
2019-03-01 80 days 1,807 sqft
2019-04-01 68 days 1,854 sqft
2019-05-01 59 days 1,798 sqft
2019-06-01 59 days 1,771 sqft
2019-07-01 60 days 1,888 sqft
2019-08-01 62 days 1,875 sqft
2019-09-01 64 days 1,851 sqft
2019-10-01 67 days 1,828 sqft
2019-11-01 72 days 1,800 sqft
2019-12-01 84 days 1,761 sqft
2020-01-01 92 days 1,760 sqft
2020-02-01 93 days 1,752 sqft
2020-03-01 70 days 1,774 sqft
2020-04-01 68 days 1,780 sqft
2020-05-01 71 days 1,800 sqft
2020-06-01 65 days 1,801 sqft
2020-07-01 60 days 1,794 sqft
2020-08-01 53 days 1,778 sqft
2020-09-01 58 days 1,738 sqft
2020-10-01 60 days 1,722 sqft
2020-11-01 57 days 1,635 sqft
2020-12-01 60 days 1,577 sqft
2021-01-01 70 days 1,574 sqft
2021-02-01 70 days 1,524 sqft
2021-03-01 53 days 1,486 sqft
2021-04-01 43 days 1,567 sqft
2021-05-01 40 days 1,560 sqft
2021-06-01 34 days 1,630 sqft
2021-07-01 36 days 1,640 sqft
2021-08-01 39 days 1,666 sqft
2021-09-01 43 days 1,649 sqft
2021-10-01 45 days 1,568 sqft
2021-11-01 46 days 1,484 sqft
2021-12-01 58 days 1,459 sqft
2022-01-01 60 days 1,414 sqft
2022-02-01 53 days 1,346 sqft
2022-03-01 45 days 1,403 sqft
2022-04-01 30 days 1,424 sqft
2022-05-01 27 days 1,601 sqft
2022-06-01 34 days 1,728 sqft
2022-07-01 33 days 1,741 sqft
2022-08-01 40 days 1,763 sqft
2022-09-01 45 days 1,763 sqft
2022-10-01 46 days 1,740 sqft
2022-11-01 48 days 1,712 sqft
2022-12-01 54 days 1,624 sqft
2023-01-01 65 days 1,679 sqft
2023-02-01 56 days 1,614 sqft
2023-03-01 43 days 1,624 sqft
2023-04-01 36 days 1,636 sqft
2023-05-01 34 days 1,666 sqft
2023-06-01 38 days 1,765 sqft
2023-07-01 38 days 1,731 sqft
2023-08-01 36 days 1,740 sqft
2023-09-01 38 days 1,788 sqft
2023-10-01 37 days 1,731 sqft
2023-11-01 39 days 1,708 sqft
2023-12-01 48 days 1,704 sqft
Peoria's median listing age (time on market) for 2023-12-01 was 48 days. This is -12% shorter than the same period one year ago.

Peoria's median square footage for active listings during the 2023-12-01 period was 1,704 sqft. One year prior, the average listing was 1,624 sqft.