Red Wing USDA Loan Rates, Closing Costs & Stats

Red Wing, MN

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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.

    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 6.58% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.73% and one month ago for the week of 2024-03-15, the average rate was 6.42%.

    The average rate one year ago was 6.16%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

    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
    Red Wing's median listing price for 2024-03-01 was $359,900, a difference of $20,000 (5.9%) versus the prior year and $28,675 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 2024-03-01 was $419,559, a difference of $-2,217 (-0.5%) versus the prior year and $27,514 versus the prior month.

    For the 2024-03-01 period, Red Wing had 81 MLS listings, a difference of 4 listings (5%) versus the prior month and 30 listings (59%) 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
    Red Wing's median listing age (time on market) for 2024-03-01 was 0 days.

    Red Wing's median square footage for active listings during the 2024-03-01 period was 1,866 sqft. One year prior, the average listing was 1,618 sqft.