Racine USDA Loan Rates, Closing Costs & Stats

RACINE, WI

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.

Racine's 6 lenders originated 8 USDA loans during 2022. The total origination value was $1,840,000, with an average USDA loan value of $230,000.

Racine USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Racine averaged 6.32% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

Racine's average USDA mortgage closing costs are $4,787.

The average rate for the prior week (2024-02-23) was 6.17% and one month ago for the week of 2024-01-26, the average rate was 6.13%.

The average rate one year ago was 6.1%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.57%.

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

Racine 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 Racine level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Associated Bank 2 3.19% $4,856
FINANCE OF AMERICA MORTGAGE LLC 2 5.25% $5,455
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.50% $11,167
INLAND BANK & TRUST 1 5.13% $7,152
INLANTA MORTGAGE, INC. 1 3.88% $4,490
Nations Lending Corporation 1 4.75% $6,419

The top Racine USDA lender as defined by loan originations is Associated Bank, with 2 USDA loans originated. Their average total fees are $4,856, which is $598 lower than the next largest lender, FINANCE OF AMERICA MORTGAGE LLC.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Racine (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 $180,700 (9.5%) $234,684 (5.6%) 0.67 546
2018-02-01 $190,950 (14.9%) $237,575 (6.9%) 0.69 529
2018-03-01 $199,900 (9.9%) $246,275 (7.6%) 0.70 551
2018-04-01 $218,700 (12.2%) $255,336 (9.8%) 0.74 582
2018-05-01 $229,450 (14.8%) $261,007 (8.2%) 0.77 631
2018-06-01 $239,900 (19.5%) $270,305 (11.0%) 0.80 667
2018-07-01 $235,750 (17.9%) $268,046 (9.6%) 0.79 698
2018-08-01 $227,000 (13.8%) $266,103 (8.4%) 0.76 767
2018-09-01 $229,900 (10.0%) $268,453 (8.9%) 0.77 795
2018-10-01 $225,950 (19.0%) $266,165 (8.8%) 0.77 796
2018-11-01 $222,400 (18.6%) $266,792 (11.0%) 0.75 753
2018-12-01 $210,000 (16.7%) $258,952 (11.1%) 0.72 669
2019-01-01 $199,950 (10.7%) $257,494 (9.7%) 0.69 587
2019-02-01 $228,450 (19.6%) $277,973 (17.0%) 0.77 552
2019-03-01 $228,243 (14.2%) $280,813 (14.0%) 0.75 598
2019-04-01 $244,900 (12.0%) $298,569 (16.9%) 0.78 662
2019-05-01 $254,475 (10.9%) $309,779 (18.7%) 0.80 708
2019-06-01 $239,200 (-0.3%) $295,002 (9.1%) 0.75 760
2019-07-01 $229,950 (-2.5%) $290,090 (8.2%) 0.72 807
2019-08-01 $229,655 (1.2%) $288,245 (8.3%) 0.73 824
2019-09-01 $229,286 (-0.3%) $287,268 (7.0%) 0.73 822
2019-10-01 $226,950 (0.4%) $286,104 (7.5%) 0.73 821
2019-11-01 $215,000 (-3.3%) $278,364 (4.3%) 0.70 777
2019-12-01 $209,800 (-0.1%) $275,950 (6.6%) 0.70 642
2020-01-01 $210,000 (5.0%) $279,472 (8.5%) 0.70 579
2020-02-01 $209,900 (-8.1%) $280,324 (0.9%) 0.69 583
2020-03-01 $234,925 (2.9%) $295,867 (5.4%) 0.74 615
2020-04-01 $233,075 (-4.8%) $274,778 (-8.0%) 0.73 623
2020-05-01 $240,450 (-5.5%) $282,504 (-8.8%) 0.73 632
2020-06-01 $245,975 (2.8%) $284,125 (-3.7%) 0.72 663
2020-07-01 $250,000 (8.7%) $306,814 (5.8%) 0.72 685
2020-08-01 $248,000 (8.0%) $301,486 (4.6%) 0.71 682
2020-09-01 $239,950 (4.7%) $299,797 (4.4%) 0.69 671
2020-10-01 $229,900 (1.3%) $290,950 (1.7%) 0.66 660
2020-11-01 $209,950 (-2.4%) $285,097 (2.4%) 0.61 589
2020-12-01 $199,944 (-4.7%) $281,649 (2.1%) 0.59 489
2021-01-01 $209,900 (-0.1%) $282,659 (1.1%) 0.63 410
2021-02-01 $219,900 (4.8%) $291,380 (3.9%) 0.64 393
2021-03-01 $225,000 (-4.2%) $303,975 (2.7%) 0.64 373
2021-04-01 $242,000 (3.8%) $311,851 (13.5%) 0.66 394
2021-05-01 $249,900 (3.9%) $318,593 (12.8%) 0.66 486
2021-06-01 $254,225 (3.4%) $319,808 (12.6%) 0.67 571
2021-07-01 $249,900 (0.0%) $322,261 (5.0%) 0.66 556
2021-08-01 $246,750 (-0.5%) $317,383 (5.3%) 0.66 625
2021-09-01 $242,450 (1.0%) $311,264 (3.8%) 0.65 699
2021-10-01 $239,900 (4.4%) $312,262 (7.3%) 0.64 665
2021-11-01 $235,000 (11.9%) $303,600 (6.5%) 0.63 582
2021-12-01 $239,950 (20.0%) $311,232 (10.5%) 0.65 458
2022-01-01 $229,950 (9.6%) $316,786 (12.1%) 0.62 337
2022-02-01 $249,950 (13.7%) $340,955 (17.0%) 0.65 302
2022-03-01 $252,450 (12.2%) $345,659 (13.7%) 0.63 293
2022-04-01 $244,500 (1.0%) $343,560 (10.2%) 0.58 361
2022-05-01 $274,200 (9.7%) $348,687 (9.5%) 0.63 432
2022-06-01 $291,200 (14.5%) $360,235 (12.6%) 0.65 536
2022-07-01 $298,000 (19.3%) $367,459 (14.0%) 0.67 572
2022-08-01 $284,925 (15.5%) $357,084 (12.5%) 0.66 588
2022-09-01 $277,500 (14.5%) $354,751 (14.0%) 0.65 556
2022-10-01 $284,900 (18.8%) $358,125 (14.7%) 0.67 557
2022-11-01 $287,450 (22.3%) $354,963 (16.9%) 0.69 500
2022-12-01 $299,900 (25.0%) $356,779 (14.6%) 0.74 403
2023-01-01 $315,500 (37.2%) $357,587 (12.9%) 0.78 343
2023-02-01 $302,425 (21.0%) $360,462 (5.7%) 0.73 343
2023-03-01 $336,950 (33.5%) $373,939 (8.2%) 0.79 316
2023-04-01 $350,000 (43.2%) $390,778 (13.7%) 0.81 335
2023-05-01 $349,925 (27.6%) $388,975 (11.6%) 0.79 351
2023-06-01 $329,900 (13.3%) $379,592 (5.4%) 0.74 378
2023-07-01 $349,900 (17.4%) $384,670 (4.7%) 0.80 407
2023-08-01 $349,950 (22.8%) $389,311 (9.0%) 0.80 397
2023-09-01 $352,450 (27.0%) $409,717 (15.5%) 0.82 416
2023-10-01 $347,200 (21.9%) $404,783 (13.0%) 0.82 423
2023-11-01 $340,975 (18.6%) $402,043 (13.3%) 0.81 413
2023-12-01 $334,000 (11.4%) $383,499 (7.5%) 0.81 366
2024-01-01 $335,700 (6.4%) $377,368 (5.5%) 0.82 322
Racine's median listing price for 2024-01-01 was $335,700, a difference of $20,200 (6.4%) versus the prior year and $1,700 versus the prior month.

Racine's median listing price comes in at 82% of the national average.

Racine's average listing price for 2024-01-01 was $377,368, a difference of $19,781 (5.5%) versus the prior year and $-6,131 versus the prior month.

For the 2024-01-01 period, Racine had 322 MLS listings, a difference of -44 listings (-12%) versus the prior month and -21 listings (-6%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Racine (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 72 days 1,622 sqft
2018-02-01 68 days 1,633 sqft
2018-03-01 45 days 1,642 sqft
2018-04-01 33 days 1,695 sqft
2018-05-01 36 days 1,651 sqft
2018-06-01 36 days 1,669 sqft
2018-07-01 39 days 1,634 sqft
2018-08-01 38 days 1,620 sqft
2018-09-01 40 days 1,660 sqft
2018-10-01 45 days 1,669 sqft
2018-11-01 49 days 1,676 sqft
2018-12-01 59 days 1,632 sqft
2019-01-01 77 days 1,565 sqft
2019-02-01 72 days 1,611 sqft
2019-03-01 56 days 1,645 sqft
2019-04-01 39 days 1,675 sqft
2019-05-01 39 days 1,767 sqft
2019-06-01 38 days 1,736 sqft
2019-07-01 40 days 1,709 sqft
2019-08-01 44 days 1,734 sqft
2019-09-01 46 days 1,736 sqft
2019-10-01 47 days 1,738 sqft
2019-11-01 52 days 1,734 sqft
2019-12-01 67 days 1,719 sqft
2020-01-01 75 days 1,700 sqft
2020-02-01 66 days 1,702 sqft
2020-03-01 43 days 1,746 sqft
2020-04-01 41 days 1,744 sqft
2020-05-01 46 days 1,742 sqft
2020-06-01 43 days 1,730 sqft
2020-07-01 39 days 1,791 sqft
2020-08-01 36 days 1,729 sqft
2020-09-01 36 days 1,685 sqft
2020-10-01 37 days 1,637 sqft
2020-11-01 40 days 1,604 sqft
2020-12-01 45 days 1,596 sqft
2021-01-01 49 days 1,590 sqft
2021-02-01 40 days 1,600 sqft
2021-03-01 37 days 1,618 sqft
2021-04-01 31 days 1,612 sqft
2021-05-01 23 days 1,678 sqft
2021-06-01 29 days 1,717 sqft
2021-07-01 30 days 1,674 sqft
2021-08-01 30 days 1,667 sqft
2021-09-01 34 days 1,666 sqft
2021-10-01 36 days 1,627 sqft
2021-11-01 43 days 1,597 sqft
2021-12-01 53 days 1,608 sqft
2022-01-01 59 days 1,618 sqft
2022-02-01 43 days 1,629 sqft
2022-03-01 28 days 1,665 sqft
2022-04-01 28 days 1,634 sqft
2022-05-01 25 days 1,653 sqft
2022-06-01 23 days 1,667 sqft
2022-07-01 30 days 1,691 sqft
2022-08-01 34 days 1,677 sqft
2022-09-01 37 days 1,675 sqft
2022-10-01 36 days 1,648 sqft
2022-11-01 43 days 1,614 sqft
2022-12-01 51 days 1,590 sqft
2023-01-01 54 days 1,562 sqft
2023-02-01 43 days 1,582 sqft
2023-03-01 43 days 1,615 sqft
2023-04-01 35 days 1,655 sqft
2023-05-01 33 days 1,690 sqft
2023-06-01 31 days 1,688 sqft
2023-07-01 32 days 1,720 sqft
2023-08-01 35 days 1,723 sqft
2023-09-01 32 days 1,692 sqft
2023-10-01 31 days 1,672 sqft
2023-11-01 35 days 1,698 sqft
2023-12-01 46 days 1,626 sqft
2024-01-01 56 days 1,616 sqft
Racine's median listing age (time on market) for 2024-01-01 was 56 days. This is 3% longer than the same period one year ago.

Racine's median square footage for active listings during the 2024-01-01 period was 1,616 sqft. One year prior, the average listing was 1,562 sqft.