Red Wing USDA Loan Rates, Closing Costs & Stats

Red Wing, MN

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.

Red Wing's 10 lenders originated 12 USDA loans during 2023. The total origination value was $2,840,000, with an average USDA loan value of $236,667.

Red Wing USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Red Wing averaged -0.28% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

Red Wing's average USDA mortgage closing costs are $5,627.

The average rate for the prior week (2024-11-22) was 6.62% and one month ago for the week of 2024-10-25, the average rate was 6.22%.

The average rate one year ago was 7.12%.

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.

Red Wing 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 Red Wing level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Century Mortgage Company DBA Century Lending Company 2 6.13% $5,943
UNITED WHOLESALE MORTGAGE, LLC 2 6.06% $8,110
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.99% $10,128
GUARANTEED RATE, INC. 1 6.25% $5,599
Merchants Bank 1 5.65% $9,072
NEWREZ LLC 1 6.25% $5,471
Paramount Residential Mortgage Group, Inc. 1 6.88% $8,464
Plains Commerce Bank 1 5.75% $9,748
SUN WEST MORTGAGE COMPANY, INC. 1 7.13% $9,007
CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $8,664

The top Red Wing USDA lender as defined by loan originations is Century Mortgage Company DBA Century Lending Company, with 2 USDA loans originated. Their average total fees are $5,943, which is $2,168 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Red Wing (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 $240,450 (3.5%) $281,446 (-1.0%) 0.00 117
2018-02-01 $268,450 (15.7%) $293,207 (-0.1%) 0.00 122
2018-03-01 $264,450 (8.4%) $283,718 (-5.5%) 0.00 133
2018-04-01 $269,900 (12.5%) $303,495 (4.3%) 0.00 138
2018-05-01 $277,450 (13.4%) $314,384 (5.5%) 0.00 161
2018-06-01 $289,950 (20.9%) $315,131 (7.9%) 0.00 172
2018-07-01 $283,412 (18.1%) $304,907 (5.3%) 0.00 178
2018-08-01 $276,563 (14.1%) $304,270 (1.7%) 0.00 188
2018-09-01 $279,900 (14.3%) $303,188 (0.1%) 0.00 198
2018-10-01 $274,900 (5.8%) $296,552 (-4.8%) 0.00 204
2018-11-01 $282,400 (12.1%) $305,317 (0.6%) 0.00 182
2018-12-01 $289,900 (19.1%) $313,897 (7.9%) 0.00 157
2019-01-01 $269,825 (12.2%) $306,668 (9.0%) 0.00 138
2019-02-01 $274,700 (2.3%) $316,456 (7.9%) 0.00 126
2019-03-01 $282,386 (6.8%) $321,301 (13.3%) 0.00 132
2019-04-01 $291,711 (8.1%) $320,072 (5.5%) 0.00 151
2019-05-01 $279,950 (0.9%) $309,485 (-1.6%) 0.00 164
2019-06-01 $273,950 (-5.5%) $297,000 (-5.8%) 0.00 180
2019-07-01 $271,250 (-4.3%) $298,835 (-2.0%) 0.00 199
2019-08-01 $265,909 (-3.9%) $296,343 (-2.6%) 0.00 207
2019-09-01 $255,273 (-8.8%) $292,799 (-3.4%) 0.00 205
2019-10-01 $245,950 (-10.5%) $290,436 (-2.1%) 0.00 205
2019-11-01 $239,850 (-15.1%) $280,954 (-8.0%) 0.00 196
2019-12-01 $239,850 (-17.3%) $278,505 (-11.3%) 0.00 167
2020-01-01 $252,175 (-6.5%) $287,911 (-6.1%) 0.00 154
2020-02-01 $260,000 (-5.4%) $291,037 (-8.0%) 0.00 146
2020-03-01 $264,900 (-6.2%) $311,084 (-3.2%) 0.00 156
2020-04-01 $264,175 (-9.4%) $315,550 (-1.4%) 0.00 146
2020-05-01 $264,900 (-5.4%) $324,903 (5.0%) 0.00 161
2020-06-01 $265,175 (-3.2%) $322,904 (8.7%) 0.00 166
2020-07-01 $284,900 (5.0%) $333,368 (11.6%) 0.00 138
2020-08-01 $314,950 (18.4%) $352,311 (18.9%) 0.00 127
2020-09-01 $299,900 (17.5%) $336,252 (14.8%) 0.00 141
2020-10-01 $289,900 (17.9%) $316,392 (8.9%) 0.00 137
2020-11-01 $287,200 (19.7%) $316,514 (12.7%) 0.00 127
2020-12-01 $278,175 (16.0%) $303,916 (9.1%) 0.00 102
2021-01-01 $280,075 (11.1%) $306,306 (6.4%) 0.00 71
2021-02-01 $303,700 (16.8%) $321,675 (10.5%) 0.00 60
2021-03-01 $334,345 (26.2%) $360,314 (15.8%) 0.00 55
2021-04-01 $331,935 (25.7%) $352,232 (11.6%) 0.00 56
2021-05-01 $294,900 (11.3%) $323,752 (-0.4%) 0.00 70
2021-06-01 $302,300 (14.0%) $335,326 (3.9%) 0.00 74
2021-07-01 $309,750 (8.7%) $350,500 (5.1%) 0.00 74
2021-08-01 $299,625 (-4.9%) $344,723 (-2.2%) 0.00 84
2021-09-01 $299,888 (0.0%) $371,085 (10.4%) 0.00 83
2021-10-01 $299,700 (3.4%) $385,900 (22.0%) 0.00 93
2021-11-01 $284,900 (-0.8%) $345,695 (9.2%) 0.00 77
2021-12-01 $298,650 (7.4%) $369,883 (21.7%) 0.00 57
2022-01-01 $299,900 (7.1%) $364,569 (19.0%) 0.00 52
2022-02-01 $295,450 (-2.7%) $363,535 (13.0%) 0.00 34
2022-03-01 $321,050 (-4.0%) $447,109 (24.1%) 0.00 42
2022-04-01 $323,500 (-2.5%) $450,254 (27.8%) 0.00 48
2022-05-01 $324,450 (10.0%) $426,790 (31.8%) 0.00 63
2022-06-01 $314,975 (4.2%) $400,270 (19.4%) 0.00 82
2022-07-01 $300,000 (-3.2%) $376,413 (7.4%) 0.00 93
2022-08-01 $315,000 (5.1%) $396,274 (15.0%) 0.00 81
2022-09-01 $329,900 (10.0%) $398,671 (7.4%) 0.00 90
2022-10-01 $322,450 (7.6%) $390,140 (1.1%) 0.00 97
2022-11-01 $317,425 (11.4%) $385,419 (11.5%) 0.00 83
2022-12-01 $299,900 (0.4%) $373,409 (1.0%) 0.00 70
2023-01-01 $295,925 (-1.3%) $391,274 (7.3%) 0.00 60
2023-02-01 $347,450 (17.6%) $422,628 (16.3%) 0.00 51
2023-03-01 $339,900 (5.9%) $421,776 (-5.7%) 0.00 51
2023-04-01 $379,900 (17.4%) $446,662 (-0.8%) 0.00 44
2023-05-01 $363,650 (12.1%) $428,025 (0.3%) 0.00 54
2023-06-01 $356,200 (13.1%) $440,766 (10.1%) 0.00 68
2023-07-01 $364,950 (21.7%) $439,957 (16.9%) 0.00 75
2023-08-01 $398,161 (26.4%) $453,962 (14.6%) 0.00 88
2023-09-01 $375,000 (13.7%) $420,659 (5.5%) 0.00 96
2023-10-01 $348,950 (8.2%) $414,644 (6.3%) 0.00 101
2023-11-01 $323,475 (1.9%) $399,721 (3.7%) 0.00 106
2023-12-01 $343,450 (14.5%) $390,366 (4.5%) 0.00 96
2024-01-01 $340,150 (14.9%) $388,780 (-0.6%) 0.00 85
2024-02-01 $331,225 (-4.7%) $392,045 (-7.2%) 0.00 77
2024-03-01 $359,900 (5.9%) $419,559 (-0.5%) 0.00 81
2024-04-01 $389,900 (2.6%) $453,658 (1.6%) 0.00 94
2024-05-01 $397,400 (9.3%) $464,926 (8.6%) 0.00 92
2024-06-01 $369,900 (3.9%) $435,807 (-1.1%) 0.00 91
2024-07-01 $347,100 (-4.9%) $415,922 (-5.5%) 0.00 88
2024-08-01 $349,450 (-12.2%) $413,715 (-8.9%) 0.00 99
2024-09-01 $335,000 (-10.7%) $400,340 (-4.8%) 0.00 105
2024-10-01 $339,500 (-2.7%) $399,419 (-3.7%) 0.00 118
Red Wing's median listing price for 2024-10-01 was $339,500, a difference of $-9,450 (-2.7%) versus the prior year and $4,500 versus the prior month.

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

Red Wing's average listing price for 2024-10-01 was $399,419, a difference of $-15,225 (-3.7%) versus the prior year and $-921 versus the prior month.

For the 2024-10-01 period, Red Wing had 118 MLS listings, a difference of 13 listings (12%) versus the prior month and 17 listings (17%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Red Wing (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,214 sqft
2018-02-01 0 days 2,344 sqft
2018-03-01 0 days 2,279 sqft
2018-04-01 0 days 2,375 sqft
2018-05-01 0 days 2,270 sqft
2018-06-01 0 days 2,166 sqft
2018-07-01 0 days 2,111 sqft
2018-08-01 0 days 2,094 sqft
2018-09-01 0 days 2,080 sqft
2018-10-01 0 days 2,103 sqft
2018-11-01 0 days 2,064 sqft
2018-12-01 0 days 2,048 sqft
2019-01-01 0 days 1,784 sqft
2019-02-01 0 days 1,943 sqft
2019-03-01 0 days 2,025 sqft
2019-04-01 0 days 2,032 sqft
2019-05-01 0 days 2,024 sqft
2019-06-01 0 days 1,933 sqft
2019-07-01 0 days 1,872 sqft
2019-08-01 0 days 1,902 sqft
2019-09-01 0 days 1,875 sqft
2019-10-01 0 days 1,866 sqft
2019-11-01 0 days 1,834 sqft
2019-12-01 0 days 1,828 sqft
2020-01-01 0 days 1,833 sqft
2020-02-01 0 days 1,775 sqft
2020-03-01 0 days 1,820 sqft
2020-04-01 0 days 1,803 sqft
2020-05-01 0 days 1,824 sqft
2020-06-01 0 days 1,800 sqft
2020-07-01 0 days 1,778 sqft
2020-08-01 0 days 1,939 sqft
2020-09-01 0 days 1,915 sqft
2020-10-01 0 days 1,927 sqft
2020-11-01 0 days 1,904 sqft
2020-12-01 0 days 1,836 sqft
2021-01-01 0 days 1,775 sqft
2021-02-01 0 days 1,644 sqft
2021-03-01 0 days 1,653 sqft
2021-04-01 0 days 1,801 sqft
2021-05-01 0 days 1,647 sqft
2021-06-01 0 days 1,744 sqft
2021-07-01 0 days 1,701 sqft
2021-08-01 0 days 1,735 sqft
2021-09-01 0 days 1,818 sqft
2021-10-01 0 days 1,666 sqft
2021-11-01 0 days 1,604 sqft
2021-12-01 0 days 1,589 sqft
2022-01-01 0 days 1,602 sqft
2022-02-01 0 days 2,285 sqft
2022-03-01 0 days 2,359 sqft
2022-04-01 0 days 2,200 sqft
2022-05-01 0 days 1,864 sqft
2022-06-01 0 days 1,947 sqft
2022-07-01 0 days 1,894 sqft
2022-08-01 0 days 1,940 sqft
2022-09-01 0 days 2,112 sqft
2022-10-01 0 days 1,973 sqft
2022-11-01 0 days 2,001 sqft
2022-12-01 0 days 1,711 sqft
2023-01-01 0 days 1,690 sqft
2023-02-01 0 days 1,641 sqft
2023-03-01 0 days 1,618 sqft
2023-04-01 0 days 1,656 sqft
2023-05-01 0 days 1,742 sqft
2023-06-01 0 days 1,824 sqft
2023-07-01 0 days 1,937 sqft
2023-08-01 0 days 2,102 sqft
2023-09-01 0 days 2,064 sqft
2023-10-01 0 days 2,010 sqft
2023-11-01 0 days 1,937 sqft
2023-12-01 0 days 1,844 sqft
2024-01-01 0 days 1,783 sqft
2024-02-01 0 days 1,884 sqft
2024-03-01 0 days 1,866 sqft
2024-04-01 0 days 2,030 sqft
2024-05-01 0 days 1,941 sqft
2024-06-01 0 days 1,828 sqft
2024-07-01 0 days 1,776 sqft
2024-08-01 0 days 1,820 sqft
2024-09-01 0 days 1,885 sqft
2024-10-01 0 days 1,883 sqft
Red Wing's median listing age (time on market) for 2024-10-01 was 0 days.

Red Wing's median square footage for active listings during the 2024-10-01 period was 1,883 sqft. One year prior, the average listing was 2,010 sqft.