Spirit Lake USDA Loan Rates, Closing Costs & Stats
Spirit Lake, IA
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.
Spirit Lake's 5 lenders originated 8 USDA loans during 2023. The total origination value was $1,570,000, with an average USDA loan value of $196,250.
Spirit Lake USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Spirit Lake
averaged
6.28%
for the week of 2024-12-13, compared to the national average (all USDA variants) of
6.303% for the same period.
Spirit Lake's average USDA mortgage closing costs are $3,994.
The average rate for the prior week (2024-12-06) was
5.92% and
one month ago for the week of 2024-11-08, the
average rate was 6.33%.
The average rate one year ago was 6.7%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.2%.
Spirit Lake 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 Spirit Lake level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Plains Commerce Bank | 3 | 5.75% | $4,547 |
| IOWA BANKERS MORTGAGE CORPORATION | 2 | 6.81% | $4,262 |
| Flanagan State Bank | 1 | 6.63% | $7,524 |
| Northwest Bank | 1 | 6.50% | $4,575 |
| V.I.P. MORTGAGE, INC. | 1 | 6.49% | $5,321 |
The top Spirit Lake USDA lender as defined by loan originations is Plains Commerce Bank, with
3 USDA loans originated. Their average total fees are
$4,547, which is $285
higher than the next largest lender,
IOWA BANKERS MORTGAGE CORPORATION.
The lowest fee Spirit Lake USDA lenders (with over 10 loans originated) are
.
The lowest rate Spirit Lake USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Spirit Lake (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 | $243,825 (-2.4%) | $409,697 (5.7%) | 0.00 | 215 |
| 2018-02-01 | $245,938 (-2.1%) | $423,644 (10.0%) | 0.00 | 219 |
| 2018-03-01 | $279,900 (10.6%) | $472,664 (28.5%) | 0.00 | 207 |
| 2018-04-01 | $296,200 (14.4%) | $486,417 (20.1%) | 0.00 | 233 |
| 2018-05-01 | $301,749 (12.1%) | $488,350 (11.2%) | 0.00 | 233 |
| 2018-06-01 | $319,000 (25.4%) | $492,116 (12.7%) | 0.00 | 242 |
| 2018-07-01 | $324,800 (30.3%) | $492,498 (15.7%) | 0.00 | 236 |
| 2018-08-01 | $321,975 (27.5%) | $431,217 (-2.4%) | 0.00 | 246 |
| 2018-09-01 | $324,850 (25.1%) | $435,042 (-2.1%) | 0.00 | 237 |
| 2018-10-01 | $338,875 (28.0%) | $449,230 (1.9%) | 0.00 | 224 |
| 2018-11-01 | $335,200 (34.6%) | $438,603 (3.3%) | 0.00 | 205 |
| 2018-12-01 | $329,000 (34.6%) | $438,933 (5.7%) | 0.00 | 181 |
| 2019-01-01 | $323,750 (32.8%) | $434,079 (6.0%) | 0.00 | 162 |
| 2019-02-01 | $323,350 (31.5%) | $426,234 (0.6%) | 0.00 | 172 |
| 2019-03-01 | $323,357 (15.5%) | $420,360 (-11.1%) | 0.00 | 203 |
| 2019-04-01 | $324,900 (9.7%) | $422,019 (-13.2%) | 0.00 | 236 |
| 2019-05-01 | $329,000 (9.0%) | $432,644 (-11.4%) | 0.00 | 263 |
| 2019-06-01 | $329,000 (3.1%) | $463,606 (-5.8%) | 0.00 | 277 |
| 2019-07-01 | $310,975 (-4.3%) | $451,412 (-8.3%) | 0.00 | 296 |
| 2019-08-01 | $302,427 (-6.1%) | $447,190 (3.7%) | 0.00 | 291 |
| 2019-09-01 | $292,568 (-9.9%) | $439,912 (1.1%) | 0.00 | 280 |
| 2019-10-01 | $280,950 (-17.1%) | $435,060 (-3.2%) | 0.00 | 260 |
| 2019-11-01 | $275,000 (-18.0%) | $429,499 (-2.1%) | 0.00 | 227 |
| 2019-12-01 | $271,000 (-17.6%) | $402,178 (-8.4%) | 0.00 | 191 |
| 2020-01-01 | $299,750 (-7.4%) | $425,320 (-2.0%) | 0.00 | 164 |
| 2020-02-01 | $288,500 (-10.8%) | $425,303 (-0.2%) | 0.00 | 168 |
| 2020-03-01 | $281,350 (-13.0%) | $408,649 (-2.8%) | 0.00 | 175 |
| 2020-04-01 | $316,250 (-2.7%) | $426,550 (1.1%) | 0.00 | 192 |
| 2020-05-01 | $317,500 (-3.5%) | $502,861 (16.2%) | 0.00 | 211 |
| 2020-06-01 | $332,500 (1.1%) | $547,660 (18.1%) | 0.00 | 192 |
| 2020-07-01 | $320,750 (3.1%) | $551,294 (22.1%) | 0.00 | 190 |
| 2020-08-01 | $270,000 (-10.7%) | $493,216 (10.3%) | 0.00 | 158 |
| 2020-09-01 | $256,500 (-12.3%) | $469,486 (6.7%) | 0.00 | 131 |
| 2020-10-01 | $256,250 (-8.8%) | $476,831 (9.6%) | 0.00 | 116 |
| 2020-11-01 | $258,375 (-6.1%) | $517,164 (20.4%) | 0.00 | 99 |
| 2020-12-01 | $254,500 (-6.1%) | $504,255 (25.4%) | 0.00 | 87 |
| 2021-01-01 | $254,500 (-15.1%) | $394,606 (-7.2%) | 0.00 | 78 |
| 2021-02-01 | $249,500 (-13.5%) | $354,279 (-16.7%) | 0.00 | 76 |
| 2021-03-01 | $255,000 (-9.4%) | $453,375 (11.0%) | 0.00 | 59 |
| 2021-04-01 | $245,750 (-22.3%) | $444,032 (4.1%) | 0.00 | 59 |
| 2021-05-01 | $246,500 (-22.4%) | $429,802 (-14.5%) | 0.00 | 58 |
| 2021-06-01 | $283,375 (-14.8%) | $654,721 (19.6%) | 0.00 | 51 |
| 2021-07-01 | $287,000 (-10.5%) | $648,495 (17.6%) | 0.00 | 56 |
| 2021-08-01 | $288,375 (6.8%) | $518,479 (5.1%) | 0.00 | 78 |
| 2021-09-01 | $289,900 (13.0%) | $472,801 (0.7%) | 0.00 | 95 |
| 2021-10-01 | $289,900 (13.1%) | $493,768 (3.6%) | 0.00 | 91 |
| 2021-11-01 | $289,900 (12.2%) | $499,211 (-3.5%) | 0.00 | 69 |
| 2021-12-01 | $289,900 (13.9%) | $494,075 (-2.0%) | 0.00 | 64 |
| 2022-01-01 | $289,900 (13.9%) | $476,345 (20.7%) | 0.00 | 54 |
| 2022-02-01 | $289,900 (16.2%) | $361,291 (2.0%) | 0.00 | 53 |
| 2022-03-01 | $289,900 (13.7%) | $411,537 (-9.2%) | 0.00 | 51 |
| 2022-04-01 | $314,900 (28.1%) | $654,708 (47.5%) | 0.00 | 60 |
| 2022-05-01 | $314,900 (27.8%) | $690,028 (60.6%) | 0.00 | 64 |
| 2022-06-01 | $319,950 (12.9%) | $693,437 (5.9%) | 0.00 | 71 |
| 2022-07-01 | $325,000 (13.2%) | $802,094 (23.7%) | 0.00 | 92 |
| 2022-08-01 | $303,275 (5.2%) | $651,537 (25.7%) | 0.00 | 104 |
| 2022-09-01 | $312,400 (7.8%) | $629,703 (33.2%) | 0.00 | 93 |
| 2022-10-01 | $328,400 (13.3%) | $625,270 (26.6%) | 0.00 | 106 |
| 2022-11-01 | $324,900 (12.1%) | $598,338 (19.9%) | 0.00 | 102 |
| 2022-12-01 | $326,650 (12.7%) | $618,921 (25.3%) | 0.00 | 98 |
| 2023-01-01 | $324,500 (11.9%) | $601,526 (26.3%) | 0.00 | 93 |
| 2023-02-01 | $324,500 (11.9%) | $606,753 (67.9%) | 0.00 | 89 |
| 2023-03-01 | $324,500 (11.9%) | $658,782 (60.1%) | 0.00 | 84 |
| 2023-04-01 | $328,400 (4.3%) | $610,175 (-6.8%) | 0.00 | 96 |
| 2023-05-01 | $349,900 (11.1%) | $691,644 (0.2%) | 0.00 | 106 |
| 2023-06-01 | $339,150 (6.0%) | $714,006 (3.0%) | 0.00 | 109 |
| 2023-07-01 | $338,650 (4.2%) | $777,435 (-3.1%) | 0.00 | 104 |
| 2023-08-01 | $349,450 (15.2%) | $748,980 (15.0%) | 0.00 | 96 |
| 2023-09-01 | $349,000 (11.7%) | $736,836 (17.0%) | 0.00 | 104 |
| 2023-10-01 | $375,010 (14.2%) | $715,584 (14.4%) | 0.00 | 112 |
| 2023-11-01 | $389,020 (19.7%) | $740,445 (23.8%) | 0.00 | 107 |
| 2023-12-01 | $398,000 (21.8%) | $586,846 (-5.2%) | 0.00 | 96 |
| 2024-01-01 | $385,030 (18.7%) | $569,290 (-5.4%) | 0.00 | 85 |
| 2024-02-01 | $377,030 (16.2%) | $589,165 (-2.9%) | 0.00 | 88 |
| 2024-03-01 | $380,270 (17.2%) | $573,647 (-12.9%) | 0.00 | 105 |
| 2024-04-01 | $404,950 (23.3%) | $614,606 (0.7%) | 0.00 | 107 |
| 2024-05-01 | $476,875 (36.3%) | $751,374 (8.6%) | 0.00 | 112 |
| 2024-06-01 | $450,000 (32.7%) | $800,367 (12.1%) | 0.00 | 128 |
| 2024-07-01 | $363,250 (7.3%) | $787,651 (1.3%) | 0.00 | 153 |
| 2024-08-01 | $359,000 (2.7%) | $798,615 (6.6%) | 0.00 | 149 |
| 2024-09-01 | $430,575 (23.4%) | $826,890 (12.2%) | 0.00 | 158 |
| 2024-10-01 | $449,250 (19.8%) | $851,292 (19.0%) | 0.00 | 165 |
| 2024-11-01 | $415,000 (6.7%) | $788,990 (6.6%) | 0.00 | 163 |
Spirit Lake's median listing price comes in at 0% of the national average.
Spirit Lake's average listing price for 2024-11-01 was $788,990, a difference of $48,545 (6.6%) versus the prior year and $-62,302 versus the prior month.
For the 2024-11-01 period, Spirit Lake had 163 MLS listings, a difference of -2 listings (-1%) versus the prior month and 56 listings (52%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Spirit Lake (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,770 sqft |
| 2018-02-01 | 0 days | 1,760 sqft |
| 2018-03-01 | 0 days | 1,944 sqft |
| 2018-04-01 | 0 days | 1,921 sqft |
| 2018-05-01 | 0 days | 1,929 sqft |
| 2018-06-01 | 0 days | 2,089 sqft |
| 2018-07-01 | 0 days | 2,082 sqft |
| 2018-08-01 | 0 days | 2,082 sqft |
| 2018-09-01 | 0 days | 2,136 sqft |
| 2018-10-01 | 0 days | 2,196 sqft |
| 2018-11-01 | 0 days | 2,148 sqft |
| 2018-12-01 | 0 days | 2,228 sqft |
| 2019-01-01 | 0 days | 2,082 sqft |
| 2019-02-01 | 0 days | 2,001 sqft |
| 2019-03-01 | 0 days | 1,941 sqft |
| 2019-04-01 | 0 days | 1,979 sqft |
| 2019-05-01 | 0 days | 1,980 sqft |
| 2019-06-01 | 0 days | 1,985 sqft |
| 2019-07-01 | 0 days | 1,916 sqft |
| 2019-08-01 | 0 days | 1,896 sqft |
| 2019-09-01 | 0 days | 1,854 sqft |
| 2019-10-01 | 0 days | 1,835 sqft |
| 2019-11-01 | 0 days | 1,811 sqft |
| 2019-12-01 | 0 days | 1,728 sqft |
| 2020-01-01 | 0 days | 1,747 sqft |
| 2020-02-01 | 0 days | 1,704 sqft |
| 2020-03-01 | 0 days | 1,704 sqft |
| 2020-04-01 | 0 days | 1,719 sqft |
| 2020-05-01 | 0 days | 1,704 sqft |
| 2020-06-01 | 0 days | 1,895 sqft |
| 2020-07-01 | 0 days | 1,936 sqft |
| 2020-08-01 | 0 days | 1,629 sqft |
| 2020-09-01 | 0 days | 1,693 sqft |
| 2020-10-01 | 0 days | 1,488 sqft |
| 2020-11-01 | 0 days | 1,647 sqft |
| 2020-12-01 | 0 days | 1,478 sqft |
| 2021-01-01 | 0 days | 1,440 sqft |
| 2021-02-01 | 0 days | 1,404 sqft |
| 2021-03-01 | 0 days | 1,427 sqft |
| 2021-04-01 | 0 days | 1,371 sqft |
| 2021-05-01 | 0 days | 1,408 sqft |
| 2021-06-01 | 0 days | 1,536 sqft |
| 2021-07-01 | 0 days | 1,704 sqft |
| 2021-08-01 | 0 days | 1,478 sqft |
| 2021-09-01 | 0 days | 1,588 sqft |
| 2021-10-01 | 0 days | 1,588 sqft |
| 2021-11-01 | 0 days | 1,557 sqft |
| 2021-12-01 | 0 days | 1,536 sqft |
| 2022-01-01 | 0 days | 1,478 sqft |
| 2022-02-01 | 0 days | 1,492 sqft |
| 2022-03-01 | 0 days | 1,588 sqft |
| 2022-04-01 | 0 days | 1,588 sqft |
| 2022-05-01 | 0 days | 1,588 sqft |
| 2022-06-01 | 0 days | 1,588 sqft |
| 2022-07-01 | 0 days | 1,865 sqft |
| 2022-08-01 | 0 days | 1,588 sqft |
| 2022-09-01 | 0 days | 1,588 sqft |
| 2022-10-01 | 0 days | 1,588 sqft |
| 2022-11-01 | 0 days | 1,588 sqft |
| 2022-12-01 | 0 days | 1,588 sqft |
| 2023-01-01 | 0 days | 1,588 sqft |
| 2023-02-01 | 0 days | 1,588 sqft |
| 2023-03-01 | 0 days | 1,588 sqft |
| 2023-04-01 | 0 days | 1,588 sqft |
| 2023-05-01 | 0 days | 1,588 sqft |
| 2023-06-01 | 0 days | 1,588 sqft |
| 2023-07-01 | 0 days | 1,588 sqft |
| 2023-08-01 | 0 days | 1,588 sqft |
| 2023-09-01 | 0 days | 1,588 sqft |
| 2023-10-01 | 0 days | 1,588 sqft |
| 2023-11-01 | 0 days | 1,588 sqft |
| 2023-12-01 | 0 days | 1,588 sqft |
| 2024-01-01 | 0 days | 1,588 sqft |
| 2024-02-01 | 0 days | 1,588 sqft |
| 2024-03-01 | 0 days | 1,588 sqft |
| 2024-04-01 | 0 days | 1,588 sqft |
| 2024-05-01 | 0 days | 1,669 sqft |
| 2024-06-01 | 0 days | 1,652 sqft |
| 2024-07-01 | 0 days | 1,541 sqft |
| 2024-08-01 | 0 days | 1,541 sqft |
| 2024-09-01 | 0 days | 1,562 sqft |
| 2024-10-01 | 0 days | 1,588 sqft |
| 2024-11-01 | 0 days | 1,541 sqft |
Spirit Lake's median square footage for active listings during the 2024-11-01 period was 1,541 sqft. One year prior, the average listing was 1,588 sqft.