Peoria USDA Loan Rates, Closing Costs & Stats

PEORIA, IL

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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.

    Peoria's 15 lenders originated 41 USDA loans during 2023. The total origination value was $4,405,000, with an average USDA loan value of $107,439.

    Peoria USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Peoria averaged 6.5% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Peoria's average USDA mortgage closing costs are $3,523.

    The average rate for the prior week (2025-02-07) was 6.65% and one month ago for the week of 2025-01-10, the average rate was 6.6%.

    The average rate one year ago was 6.29%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.48%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FLAT BRANCH MORTGAGE, INC. 14 6.94% $3,856
    FIRST STATE MORTGAGE SERVICES, LLC 7 6.41% $4,377
    Flanagan State Bank 5 6.98% $4,448
    Community Mortgage Banc Corporation 2 7.56% $3,487
    NEWREZ LLC 2 6.43% $11,079
    UNITED WHOLESALE MORTGAGE, LLC 2 7.00% $4,093
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $4,639
    Heartland Bank and Trust Company 1 7.00% $4,665
    INB 1 6.00% $4,747
    First Mid Bank & Trust 1 6.50% $3,722
    BROKER SOLUTIONS, INC. 1 7.50% $4,378
    CALIBER HOME LOANS, INC. 1 6.13% $4,399
    DAS Acquisition Company, LLC 1 6.50% $3,981
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $4,887
    FIRST CENTENNIAL MORTGAGE CORPORATION 1 7.25% $3,024

    The top Peoria USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 14 USDA loans originated. Their average total fees are $3,856, which is $521 lower than the next largest lender, FIRST STATE MORTGAGE SERVICES, LLC.

    The lowest fee Peoria USDA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. ($3,856), .

    The lowest rate Peoria USDA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. (6.94%), .

    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%) $174,470 (-2.7%) 0.48 2,141
    2018-02-01 $134,900 (-0.3%) $175,751 (-2.2%) 0.47 2,139
    2018-03-01 $132,500 (-7.9%) $173,667 (-7.6%) 0.46 2,352
    2018-04-01 $134,900 (-8.5%) $174,653 (-9.5%) 0.44 2,380
    2018-05-01 $138,250 (-6.4%) $177,032 (-10.3%) 0.44 2,470
    2018-06-01 $139,900 (-6.7%) $179,972 (-10.4%) 0.45 2,496
    2018-07-01 $139,900 (-6.7%) $179,962 (-9.6%) 0.45 2,560
    2018-08-01 $138,500 (-7.6%) $179,517 (-8.0%) 0.45 2,561
    2018-09-01 $134,900 (-6.9%) $174,798 (-7.9%) 0.44 2,501
    2018-10-01 $134,000 (-4.3%) $171,702 (-6.1%) 0.44 2,466
    2018-11-01 $129,900 (-7.2%) $169,681 (-6.5%) 0.42 2,257
    2018-12-01 $129,100 (-7.1%) $164,858 (-6.5%) 0.43 2,057
    2019-01-01 $128,475 (-4.8%) $163,255 (-6.4%) 0.43 1,876
    2019-02-01 $129,900 (-3.7%) $164,529 (-6.4%) 0.42 1,845
    2019-03-01 $133,157 (0.5%) $169,234 (-2.6%) 0.42 1,865
    2019-04-01 $138,000 (2.3%) $174,876 (0.1%) 0.43 1,907
    2019-05-01 $137,500 (-0.5%) $177,524 (0.3%) 0.42 1,999
    2019-06-01 $139,000 (-0.6%) $178,215 (-1.0%) 0.42 2,057
    2019-07-01 $138,250 (-1.2%) $179,326 (-0.4%) 0.42 2,097
    2019-08-01 $135,973 (-1.8%) $177,394 (-1.2%) 0.42 2,154
    2019-09-01 $133,682 (-0.9%) $176,191 (0.8%) 0.42 2,178
    2019-10-01 $130,900 (-2.3%) $174,977 (1.9%) 0.42 2,194
    2019-11-01 $129,500 (-0.3%) $170,360 (0.4%) 0.41 2,134
    2019-12-01 $123,200 (-4.6%) $164,733 (-0.1%) 0.40 1,982
    2020-01-01 $121,250 (-5.6%) $164,165 (0.6%) 0.40 1,824
    2020-02-01 $122,700 (-5.5%) $165,289 (0.5%) 0.39 1,723
    2020-03-01 $127,225 (-4.5%) $169,973 (0.4%) 0.39 1,735
    2020-04-01 $129,900 (-5.9%) $173,947 (-0.5%) 0.39 1,702
    2020-05-01 $129,945 (-5.5%) $183,111 (3.2%) 0.39 1,660
    2020-06-01 $132,700 (-4.5%) $183,929 (3.2%) 0.38 1,541
    2020-07-01 $134,900 (-2.4%) $184,504 (2.9%) 0.38 1,460
    2020-08-01 $129,900 (-4.5%) $177,938 (0.3%) 0.36 1,388
    2020-09-01 $124,950 (-6.5%) $178,233 (1.2%) 0.35 1,308
    2020-10-01 $122,500 (-6.4%) $177,586 (1.5%) 0.34 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%) 0.33 1,091
    2021-01-01 $109,900 (-9.4%) $165,571 (0.9%) 0.33 990
    2021-02-01 $104,350 (-15.0%) $160,311 (-3.0%) 0.29 854
    2021-03-01 $102,500 (-19.4%) $164,939 (-3.0%) 0.28 769
    2021-04-01 $112,425 (-13.5%) $185,614 (6.7%) 0.29 671
    2021-05-01 $115,000 (-11.5%) $196,125 (7.1%) 0.29 647
    2021-06-01 $119,900 (-9.7%) $202,681 (10.2%) 0.29 687
    2021-07-01 $120,000 (-11.1%) $199,079 (7.9%) 0.30 796
    2021-08-01 $124,900 (-3.9%) $199,566 (12.2%) 0.32 808
    2021-09-01 $119,950 (-4.0%) $197,096 (10.6%) 0.31 861
    2021-10-01 $115,900 (-5.4%) $187,064 (5.3%) 0.29 828
    2021-11-01 $109,950 (-6.0%) $177,083 (1.5%) 0.28 788
    2021-12-01 $106,200 (-7.6%) $175,945 (4.5%) 0.27 649
    2022-01-01 $99,900 (-9.1%) $170,279 (2.8%) 0.26 555
    2022-02-01 $97,100 (-7.0%) $174,974 (9.2%) 0.23 448
    2022-03-01 $109,900 (7.2%) $204,699 (24.1%) 0.25 413
    2022-04-01 $112,900 (0.4%) $210,956 (13.7%) 0.24 397
    2022-05-01 $144,750 (25.9%) $236,201 (20.4%) 0.31 440
    2022-06-01 $157,800 (31.6%) $232,823 (14.9%) 0.33 536
    2022-07-01 $159,000 (32.5%) $234,291 (17.7%) 0.34 663
    2022-08-01 $158,925 (27.2%) $238,756 (19.6%) 0.36 696
    2022-09-01 $156,450 (30.4%) $238,652 (21.1%) 0.36 702
    2022-10-01 $151,900 (31.1%) $230,510 (23.2%) 0.35 713
    2022-11-01 $149,675 (36.1%) $221,211 (24.9%) 0.35 680
    2022-12-01 $139,900 (31.7%) $212,237 (20.6%) 0.33 593
    2023-01-01 $139,950 (40.1%) $215,305 (26.4%) 0.33 511
    2023-02-01 $137,900 (42.0%) $218,163 (24.7%) 0.31 409
    2023-03-01 $147,400 (34.1%) $232,563 (13.6%) 0.33 353
    2023-04-01 $157,000 (39.1%) $239,091 (13.3%) 0.34 341
    2023-05-01 $165,925 (14.6%) $253,885 (7.5%) 0.34 353
    2023-06-01 $179,300 (13.6%) $260,414 (11.9%) 0.38 363
    2023-07-01 $184,900 (16.3%) $250,445 (6.9%) 0.39 382
    2023-08-01 $172,425 (8.5%) $249,148 (4.4%) 0.37 398
    2023-09-01 $178,900 (14.4%) $254,315 (6.6%) 0.39 438
    2023-10-01 $169,900 (11.9%) $244,267 (6.0%) 0.39 494
    2023-11-01 $157,000 (4.9%) $230,322 (4.1%) 0.36 519
    2023-12-01 $149,900 (7.2%) $222,021 (4.6%) 0.35 495
    2024-01-01 $148,700 (6.3%) $216,112 (0.4%) 0.34 429
    2024-02-01 $139,950 (1.5%) $216,978 (-0.5%) 0.32 417
    2024-03-01 $156,500 (6.2%) $235,435 (1.2%) 0.35 407
    2024-04-01 $160,000 (1.9%) $245,109 (2.5%) 0.35 392
    2024-05-01 $184,948 (11.5%) $263,027 (3.6%) 0.41 405
    2024-06-01 $184,900 (3.1%) $250,182 (-3.9%) 0.40 444
    2024-07-01 $185,000 (0.1%) $254,814 (1.7%) 0.40 517
    2024-08-01 $184,900 (7.2%) $245,526 (-1.5%) 0.41 589
    2024-09-01 $179,950 (0.6%) $242,734 (-4.6%) 0.41 600
    2024-10-01 $166,950 (-1.7%) $220,294 (-9.8%) 0.38 597
    2024-11-01 $155,500 (-1.0%) $209,406 (-9.1%) 0.36 599
    2024-12-01 $149,945 (0.0%) $199,501 (-10.1%) 0.36 583
    2025-01-01 $143,400 (-3.6%) $192,946 (-10.7%) 0.00 535
    Peoria's median listing price for 2025-01-01 was $143,400, a difference of $-5,300 (-3.6%) versus the prior year and $-6,545 versus the prior month.

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

    Peoria's average listing price for 2025-01-01 was $192,946, a difference of $-23,166 (-10.7%) versus the prior year and $-6,555 versus the prior month.

    For the 2025-01-01 period, Peoria had 535 MLS listings, a difference of -48 listings (-8%) versus the prior month and 106 listings (25%) 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 68 days 1,855 sqft
    2018-04-01 59 days 1,876 sqft
    2018-05-01 65 days 1,898 sqft
    2018-06-01 61 days 1,896 sqft
    2018-07-01 66 days 1,899 sqft
    2018-08-01 68 days 1,882 sqft
    2018-09-01 72 days 1,870 sqft
    2018-10-01 78 days 1,849 sqft
    2018-11-01 80 days 1,844 sqft
    2018-12-01 87 days 1,801 sqft
    2019-01-01 89 days 1,805 sqft
    2019-02-01 92 days 1,774 sqft
    2019-03-01 82 days 1,807 sqft
    2019-04-01 69 days 1,854 sqft
    2019-05-01 59 days 1,796 sqft
    2019-06-01 59 days 1,771 sqft
    2019-07-01 61 days 1,886 sqft
    2019-08-01 62 days 1,874 sqft
    2019-09-01 65 days 1,851 sqft
    2019-10-01 67 days 1,828 sqft
    2019-11-01 73 days 1,800 sqft
    2019-12-01 85 days 1,761 sqft
    2020-01-01 92 days 1,760 sqft
    2020-02-01 94 days 1,753 sqft
    2020-03-01 72 days 1,774 sqft
    2020-04-01 72 days 1,780 sqft
    2020-05-01 72 days 1,800 sqft
    2020-06-01 68 days 1,801 sqft
    2020-07-01 61 days 1,794 sqft
    2020-08-01 53 days 1,778 sqft
    2020-09-01 58 days 1,737 sqft
    2020-10-01 61 days 1,722 sqft
    2020-11-01 58 days 1,635 sqft
    2020-12-01 61 days 1,577 sqft
    2021-01-01 72 days 1,574 sqft
    2021-02-01 73 days 1,524 sqft
    2021-03-01 59 days 1,486 sqft
    2021-04-01 47 days 1,570 sqft
    2021-05-01 41 days 1,560 sqft
    2021-06-01 34 days 1,633 sqft
    2021-07-01 36 days 1,640 sqft
    2021-08-01 39 days 1,666 sqft
    2021-09-01 44 days 1,650 sqft
    2021-10-01 45 days 1,568 sqft
    2021-11-01 47 days 1,484 sqft
    2021-12-01 58 days 1,459 sqft
    2022-01-01 62 days 1,414 sqft
    2022-02-01 57 days 1,346 sqft
    2022-03-01 49 days 1,411 sqft
    2022-04-01 34 days 1,424 sqft
    2022-05-01 30 days 1,601 sqft
    2022-06-01 35 days 1,728 sqft
    2022-07-01 34 days 1,741 sqft
    2022-08-01 42 days 1,763 sqft
    2022-09-01 46 days 1,763 sqft
    2022-10-01 49 days 1,740 sqft
    2022-11-01 51 days 1,712 sqft
    2022-12-01 56 days 1,624 sqft
    2023-01-01 67 days 1,679 sqft
    2023-02-01 59 days 1,614 sqft
    2023-03-01 47 days 1,626 sqft
    2023-04-01 39 days 1,637 sqft
    2023-05-01 36 days 1,670 sqft
    2023-06-01 40 days 1,767 sqft
    2023-07-01 40 days 1,731 sqft
    2023-08-01 37 days 1,740 sqft
    2023-09-01 40 days 1,788 sqft
    2023-10-01 39 days 1,731 sqft
    2023-11-01 41 days 1,708 sqft
    2023-12-01 50 days 1,704 sqft
    2024-01-01 60 days 1,673 sqft
    2024-02-01 48 days 1,594 sqft
    2024-03-01 36 days 1,600 sqft
    2024-04-01 42 days 1,620 sqft
    2024-05-01 31 days 1,761 sqft
    2024-06-01 31 days 1,765 sqft
    2024-07-01 36 days 1,781 sqft
    2024-08-01 37 days 1,760 sqft
    2024-09-01 38 days 1,728 sqft
    2024-10-01 40 days 1,648 sqft
    2024-11-01 46 days 1,558 sqft
    2024-12-01 52 days 1,558 sqft
    2025-01-01 0 days 1,538 sqft
    Peoria's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Peoria's median square footage for active listings during the 2025-01-01 period was 1,538 sqft. One year prior, the average listing was 1,673 sqft.