Pontiac USDA Loan Rates, Closing Costs & Stats

Pontiac, 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.

    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 6.91% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.96% and one month ago for the week of 2024-03-15, the average rate was 6.55%.

    The average rate one year ago was 6.29%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

    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
    Pontiac's median listing price for 2024-03-01 was $142,450, a difference of $-2,525 (-1.7%) versus the prior year and $12,550 versus the prior month.

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

    Pontiac's average listing price for 2024-03-01 was $178,330, a difference of $10,997 (6.6%) versus the prior year and $9,078 versus the prior month.

    For the 2024-03-01 period, Pontiac had 34 MLS listings, a difference of -13 listings (-28%) versus the prior month and 3 listings (10%) 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
    Pontiac's median listing age (time on market) for 2024-03-01 was 0 days.

    Pontiac's median square footage for active listings during the 2024-03-01 period was 1,703 sqft. One year prior, the average listing was 1,556 sqft.