Pontiac USDA Loan Rates, Closing Costs & Stats

Pontiac, 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.

Pontiac's 9 lenders originated 15 USDA loans during 2023. The total origination value was $1,695,000, with an average USDA loan value of $113,000.

Pontiac USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Pontiac averaged 0.25% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

Pontiac's average USDA mortgage closing costs are $3,922.

The average rate for the prior week (2024-11-22) was 6.65% and one month ago for the week of 2024-10-25, the average rate was 6.35%.

The average rate one year ago was 7.15%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.1%.

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

Pontiac 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 Pontiac level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Bank of Pontiac 3 7.50% $3,911
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.50% $5,515
Flanagan State Bank 2 6.63% $6,018
FLAT BRANCH MORTGAGE, INC. 2 6.88% $4,283
COMPASS MORTGAGE, INC. 1 6.25% $4,403
Wells Fargo Bank 1 6.13% $1,762
ROYAL UNITED MORTGAGE LLC 1 7.13% $5,591
The First National Bank of Ottawa 1 7.38% $5,155
Flagstar Bank, FSB 1 6.25% $5,122

The top Pontiac USDA lender as defined by loan originations is Bank of Pontiac, with 3 USDA loans originated. Their average total fees are $3,911, which is $1,604 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Pontiac USDA lenders (with over 10 loans originated) are .

The lowest rate Pontiac USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Pontiac (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 $90,000 (-1.4%) $118,876 (4.6%) 0.00 221
2018-02-01 $90,250 (-2.6%) $117,456 (1.0%) 0.00 212
2018-03-01 $92,450 (-7.2%) $117,547 (-2.8%) 0.00 211
2018-04-01 $94,400 (-8.8%) $117,008 (-7.0%) 0.00 195
2018-05-01 $94,425 (-9.0%) $114,065 (-10.2%) 0.00 187
2018-06-01 $94,000 (-7.3%) $115,761 (-9.3%) 0.00 191
2018-07-01 $94,375 (-7.0%) $114,760 (-12.2%) 0.00 199
2018-08-01 $99,900 (0.8%) $118,212 (-7.1%) 0.00 202
2018-09-01 $99,900 (0.4%) $117,806 (-6.0%) 0.00 179
2018-10-01 $100,200 (3.1%) $119,658 (-3.3%) 0.00 173
2018-11-01 $99,500 (4.9%) $119,400 (-3.6%) 0.00 170
2018-12-01 $99,900 (6.1%) $118,737 (-2.4%) 0.00 162
2019-01-01 $101,800 (13.1%) $119,035 (0.1%) 0.00 164
2019-02-01 $99,900 (10.7%) $116,953 (-0.4%) 0.00 163
2019-03-01 $96,300 (4.2%) $112,905 (-4.0%) 0.00 156
2019-04-01 $90,700 (-3.9%) $110,634 (-5.5%) 0.00 156
2019-05-01 $92,000 (-2.6%) $115,756 (1.5%) 0.00 156
2019-06-01 $98,250 (4.5%) $119,462 (3.2%) 0.00 171
2019-07-01 $99,900 (5.9%) $121,469 (5.9%) 0.00 168
2019-08-01 $97,200 (-2.7%) $119,780 (1.3%) 0.00 165
2019-09-01 $93,150 (-6.8%) $119,770 (1.7%) 0.00 163
2019-10-01 $90,450 (-9.7%) $119,679 (0.0%) 0.00 165
2019-11-01 $95,000 (-4.5%) $119,204 (-0.2%) 0.00 178
2019-12-01 $97,425 (-2.5%) $116,865 (-1.6%) 0.00 180
2020-01-01 $99,900 (-1.9%) $118,170 (-0.7%) 0.00 179
2020-02-01 $99,450 (-0.5%) $116,994 (0.0%) 0.00 168
2020-03-01 $100,600 (4.5%) $120,362 (6.6%) 0.00 152
2020-04-01 $109,900 (21.2%) $126,117 (14.0%) 0.00 135
2020-05-01 $112,000 (21.7%) $126,603 (9.4%) 0.00 129
2020-06-01 $111,225 (13.2%) $128,060 (7.2%) 0.00 122
2020-07-01 $111,200 (11.3%) $128,415 (5.7%) 0.00 121
2020-08-01 $105,950 (9.0%) $130,704 (9.1%) 0.00 117
2020-09-01 $111,200 (19.4%) $131,358 (9.7%) 0.00 99
2020-10-01 $99,900 (10.5%) $131,745 (10.1%) 0.00 85
2020-11-01 $102,200 (7.6%) $123,257 (3.4%) 0.00 90
2020-12-01 $102,500 (5.2%) $123,756 (5.9%) 0.00 86
2021-01-01 $100,000 (0.1%) $125,314 (6.1%) 0.00 86
2021-02-01 $100,425 (1.0%) $124,534 (6.4%) 0.00 71
2021-03-01 $113,075 (12.4%) $134,804 (12.0%) 0.00 64
2021-04-01 $107,400 (-2.3%) $136,163 (8.0%) 0.00 55
2021-05-01 $109,900 (-1.9%) $152,737 (20.6%) 0.00 47
2021-06-01 $122,450 (10.1%) $157,578 (23.1%) 0.00 52
2021-07-01 $129,900 (16.8%) $163,895 (27.6%) 0.00 63
2021-08-01 $127,425 (20.3%) $163,019 (24.7%) 0.00 66
2021-09-01 $137,750 (23.9%) $168,799 (28.5%) 0.00 62
2021-10-01 $127,750 (27.9%) $150,291 (14.1%) 0.00 67
2021-11-01 $132,475 (29.6%) $159,947 (29.8%) 0.00 71
2021-12-01 $121,425 (18.5%) $147,388 (19.1%) 0.00 60
2022-01-01 $110,000 (10.0%) $138,469 (10.5%) 0.00 45
2022-02-01 $101,900 (1.5%) $137,464 (10.4%) 0.00 39
2022-03-01 $129,225 (14.3%) $171,540 (27.3%) 0.00 35
2022-04-01 $128,250 (19.4%) $159,363 (17.0%) 0.00 31
2022-05-01 $136,200 (23.9%) $176,421 (15.5%) 0.00 34
2022-06-01 $167,450 (36.8%) $184,043 (16.8%) 0.00 34
2022-07-01 $149,900 (15.4%) $167,715 (2.3%) 0.00 45
2022-08-01 $139,900 (9.8%) $168,810 (3.6%) 0.00 52
2022-09-01 $138,675 (0.7%) $166,040 (-1.6%) 0.00 57
2022-10-01 $144,900 (13.4%) $161,840 (7.7%) 0.00 54
2022-11-01 $139,900 (5.6%) $157,849 (-1.3%) 0.00 57
2022-12-01 $149,900 (23.5%) $160,730 (9.1%) 0.00 58
2023-01-01 $148,675 (35.2%) $167,291 (20.8%) 0.00 46
2023-02-01 $146,200 (43.5%) $164,395 (19.6%) 0.00 44
2023-03-01 $144,975 (12.2%) $167,333 (-2.5%) 0.00 31
2023-04-01 $138,900 (8.3%) $163,093 (2.3%) 0.00 38
2023-05-01 $130,725 (-4.0%) $142,404 (-19.3%) 0.00 33
2023-06-01 $145,000 (-13.4%) $165,752 (-9.9%) 0.00 38
2023-07-01 $145,000 (-3.3%) $162,236 (-3.3%) 0.00 39
2023-08-01 $137,500 (-1.7%) $172,082 (1.9%) 0.00 39
2023-09-01 $140,000 (1.0%) $169,492 (2.1%) 0.00 41
2023-10-01 $130,675 (-9.8%) $161,731 (-0.1%) 0.00 43
2023-11-01 $148,425 (6.1%) $170,851 (8.2%) 0.00 51
2023-12-01 $129,900 (-13.3%) $162,272 (1.0%) 0.00 50
2024-01-01 $139,925 (-5.9%) $177,801 (6.3%) 0.00 48
2024-02-01 $129,900 (-11.2%) $169,252 (3.0%) 0.00 47
2024-03-01 $142,450 (-1.7%) $178,330 (6.6%) 0.00 34
2024-04-01 $131,150 (-5.6%) $170,983 (4.8%) 0.00 31
2024-05-01 $159,900 (22.3%) $196,664 (38.1%) 0.00 26
2024-06-01 $155,000 (6.9%) $181,321 (9.4%) 0.00 32
2024-07-01 $164,950 (13.8%) $184,367 (13.6%) 0.00 43
2024-08-01 $184,900 (34.5%) $203,824 (18.5%) 0.00 46
2024-09-01 $187,200 (33.7%) $216,420 (27.7%) 0.00 54
2024-10-01 $156,250 (19.6%) $192,930 (19.3%) 0.00 55
Pontiac's median listing price for 2024-10-01 was $156,250, a difference of $25,575 (19.6%) versus the prior year and $-30,950 versus the prior month.

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

Pontiac's average listing price for 2024-10-01 was $192,930, a difference of $31,199 (19.3%) versus the prior year and $-23,490 versus the prior month.

For the 2024-10-01 period, Pontiac had 55 MLS listings, a difference of 1 listings (2%) versus the prior month and 12 listings (28%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Pontiac (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,514 sqft
2018-02-01 0 days 1,517 sqft
2018-03-01 0 days 1,550 sqft
2018-04-01 0 days 1,500 sqft
2018-05-01 0 days 1,524 sqft
2018-06-01 0 days 1,568 sqft
2018-07-01 0 days 1,566 sqft
2018-08-01 0 days 1,575 sqft
2018-09-01 0 days 1,616 sqft
2018-10-01 0 days 1,630 sqft
2018-11-01 0 days 1,619 sqft
2018-12-01 0 days 1,621 sqft
2019-01-01 0 days 1,617 sqft
2019-02-01 0 days 1,592 sqft
2019-03-01 0 days 1,540 sqft
2019-04-01 0 days 1,529 sqft
2019-05-01 0 days 1,539 sqft
2019-06-01 0 days 1,540 sqft
2019-07-01 0 days 1,523 sqft
2019-08-01 0 days 1,523 sqft
2019-09-01 0 days 1,523 sqft
2019-10-01 0 days 1,523 sqft
2019-11-01 0 days 1,565 sqft
2019-12-01 0 days 1,573 sqft
2020-01-01 0 days 1,580 sqft
2020-02-01 0 days 1,565 sqft
2020-03-01 0 days 1,569 sqft
2020-04-01 0 days 1,566 sqft
2020-05-01 0 days 1,663 sqft
2020-06-01 0 days 1,660 sqft
2020-07-01 0 days 1,615 sqft
2020-08-01 0 days 1,617 sqft
2020-09-01 0 days 1,632 sqft
2020-10-01 0 days 1,623 sqft
2020-11-01 0 days 1,592 sqft
2020-12-01 0 days 1,604 sqft
2021-01-01 0 days 1,608 sqft
2021-02-01 0 days 1,632 sqft
2021-03-01 0 days 1,673 sqft
2021-04-01 0 days 1,644 sqft
2021-05-01 0 days 1,643 sqft
2021-06-01 0 days 1,687 sqft
2021-07-01 0 days 1,693 sqft
2021-08-01 0 days 1,678 sqft
2021-09-01 0 days 1,728 sqft
2021-10-01 0 days 1,785 sqft
2021-11-01 0 days 1,865 sqft
2021-12-01 0 days 1,752 sqft
2022-01-01 0 days 1,599 sqft
2022-02-01 0 days 1,501 sqft
2022-03-01 0 days 1,546 sqft
2022-04-01 0 days 1,554 sqft
2022-05-01 0 days 1,659 sqft
2022-06-01 0 days 1,731 sqft
2022-07-01 0 days 1,665 sqft
2022-08-01 0 days 1,551 sqft
2022-09-01 0 days 1,548 sqft
2022-10-01 0 days 1,532 sqft
2022-11-01 0 days 1,573 sqft
2022-12-01 0 days 1,615 sqft
2023-01-01 0 days 1,556 sqft
2023-02-01 0 days 1,611 sqft
2023-03-01 0 days 1,556 sqft
2023-04-01 0 days 1,581 sqft
2023-05-01 0 days 1,552 sqft
2023-06-01 0 days 1,594 sqft
2023-07-01 0 days 1,547 sqft
2023-08-01 0 days 1,575 sqft
2023-09-01 0 days 1,552 sqft
2023-10-01 0 days 1,627 sqft
2023-11-01 0 days 1,643 sqft
2023-12-01 0 days 1,714 sqft
2024-01-01 0 days 1,736 sqft
2024-02-01 0 days 1,644 sqft
2024-03-01 0 days 1,703 sqft
2024-04-01 0 days 1,621 sqft
2024-05-01 0 days 1,631 sqft
2024-06-01 0 days 1,528 sqft
2024-07-01 0 days 1,586 sqft
2024-08-01 0 days 1,640 sqft
2024-09-01 0 days 1,742 sqft
2024-10-01 0 days 1,640 sqft
Pontiac's median listing age (time on market) for 2024-10-01 was 0 days.

Pontiac's median square footage for active listings during the 2024-10-01 period was 1,640 sqft. One year prior, the average listing was 1,627 sqft.