Springfield USDA Loan Rates, Closing Costs & Stats

SPRINGFIELD, MO

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.

Springfield's 36 lenders originated 144 USDA loans during 2024. The total origination value was $27,850,000, with an average USDA loan value of $193,403.

Springfield USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Springfield averaged 6.78% for the week of 2025-04-11, compared to the national average (all USDA variants) of 6.449% for the same period.

Springfield's average USDA mortgage closing costs are $4,250.

The average rate for the prior week (2025-04-04) was 6.63% and one month ago for the week of 2025-03-07, the average rate was 6.7%.

The average rate one year ago was 6.86%.

For refis of the same type during the week of 2025-04-11, the average rate was 6.04%.

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

Springfield 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 Springfield level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
FLAT BRANCH MORTGAGE, INC. 23 6.51% $5,203
DAS Acquisition Company, LLC 22 6.78% $6,632
GERSHMAN INVESTMENT CORP. 10 6.58% $5,312
The Central Trust Bank 8 6.25% $5,325
PRIMELENDING, A PLAINSCAPITAL COMPANY 8 6.72% $5,723
Southern Bank 6 6.17% $4,792
Mortgage Research Center, LLC 6 6.52% $2,485
Paramount Residential Mortgage Group, Inc. 5 6.30% $5,024
Great Southern Bank 5 6.03% $5,897
MID AMERICA MORTGAGE, INC. 4 6.84% $4,205
BancorpSouth 3 5.79% $6,164
Oakstar Bank 3 6.21% $4,984
BROKER SOLUTIONS, INC. 3 7.04% $5,487
Equity Prime Mortgage LLC 3 6.88% $6,194
Cornerstone First Mortgage, Inc 2 6.56% $6,521
U.S. Bank 2 6.31% $4,578
NEWREZ LLC 2 6.25% $4,799
UNITED WHOLESALE MORTGAGE, LLC 2 6.37% $10,181
Integrity Home Mortgage Corp 1 5.75% $7,438
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.13% $4,970
Arvest Bank 1 7.00% $4,483
Community Mortgage Banc Corporation 1 6.50% $3,955
CROSSCOUNTRY MORTGAGE, LLC 1 5.75% $4,160
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $9,049
Flagstar Bank, FSB 1 6.25% $6,196
GUILD MORTGAGE COMPANY 1 6.50% $3,846
Hawthorn Bank 1 6.25% $4,853
HOMESIDE FINANCIAL, LLC 1 6.75% $6,809
AMERICAN FINANCIAL RESOURCES, INC. 1 5.38% $8,773
Ixonia Bank 1 6.75% $7,813
Members Mortgage Services, L.L.C. 1 6.50% $5,019
Simmons Bank 1 6.50% $3,706
SUN WEST MORTGAGE COMPANY, INC. 1 6.75% $11,065
The Loan Store, Inc. 1 6.13% $7,663
TOWNE MORTGAGE COMPANY 1 7.25% $9,344
UNION HOME MORTGAGE CORP. 1 5.00% $7,660

The top Springfield USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 23 USDA loans originated. Their average total fees are $5,203, which is $1,429 lower than the next largest lender, DAS Acquisition Company, LLC.

The lowest fee Springfield USDA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. ($5,203), GERSHMAN INVESTMENT CORP. ($5,312), DAS Acquisition Company, LLC ($6,632), .

The lowest rate Springfield USDA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. (6.51%), GERSHMAN INVESTMENT CORP. (6.58%), DAS Acquisition Company, LLC (6.78%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Springfield (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 $176,900 (14.0%) $239,476 (13.2%) 0.66 1,628
2018-02-01 $183,925 (15.0%) $240,957 (12.3%) 0.67 1,570
2018-03-01 $189,900 (11.8%) $244,326 (8.0%) 0.67 1,527
2018-04-01 $199,925 (11.1%) $255,802 (6.2%) 0.68 1,510
2018-05-01 $207,950 (15.6%) $263,607 (8.4%) 0.69 1,517
2018-06-01 $217,000 (19.7%) $269,986 (10.1%) 0.72 1,663
2018-07-01 $205,000 (14.0%) $266,342 (9.4%) 0.68 1,775
2018-08-01 $189,900 (4.8%) $250,567 (2.4%) 0.64 1,944
2018-09-01 $189,500 (5.3%) $246,948 (2.6%) 0.64 1,956
2018-10-01 $186,950 (3.9%) $243,010 (0.9%) 0.63 1,955
2018-11-01 $183,250 (2.1%) $241,238 (0.6%) 0.62 1,928
2018-12-01 $182,900 (3.4%) $238,283 (-0.7%) 0.63 1,815
2019-01-01 $189,900 (7.4%) $241,336 (0.8%) 0.66 1,629
2019-02-01 $192,175 (4.5%) $242,498 (0.6%) 0.65 1,569
2019-03-01 $205,714 (8.3%) $252,253 (3.2%) 0.67 1,472
2019-04-01 $222,500 (11.3%) $265,941 (4.0%) 0.71 1,377
2019-05-01 $237,400 (14.2%) $277,850 (5.4%) 0.74 1,364
2019-06-01 $231,450 (6.7%) $280,621 (3.9%) 0.72 1,522
2019-07-01 $227,400 (10.9%) $275,991 (3.6%) 0.71 1,565
2019-08-01 $223,536 (17.7%) $270,230 (7.9%) 0.71 1,647
2019-09-01 $221,491 (16.9%) $268,176 (8.6%) 0.71 1,662
2019-10-01 $220,152 (17.8%) $266,502 (9.7%) 0.71 1,683
2019-11-01 $217,500 (18.7%) $261,791 (8.5%) 0.71 1,700
2019-12-01 $214,900 (17.5%) $261,209 (9.6%) 0.72 1,577
2020-01-01 $217,450 (14.5%) $265,065 (9.8%) 0.73 1,455
2020-02-01 $219,900 (14.4%) $273,009 (12.6%) 0.72 1,343
2020-03-01 $228,750 (11.2%) $287,344 (13.9%) 0.72 1,290
2020-04-01 $229,900 (3.3%) $283,465 (6.6%) 0.72 1,350
2020-05-01 $243,900 (2.7%) $300,018 (8.0%) 0.74 1,202
2020-06-01 $256,023 (10.6%) $316,962 (13.0%) 0.75 1,068
2020-07-01 $248,550 (9.3%) $317,831 (15.2%) 0.72 1,031
2020-08-01 $249,900 (11.8%) $319,539 (18.3%) 0.72 986
2020-09-01 $249,950 (12.9%) $317,385 (18.4%) 0.72 989
2020-10-01 $237,900 (8.1%) $311,976 (17.1%) 0.68 1,017
2020-11-01 $242,450 (11.5%) $312,002 (19.2%) 0.71 916
2020-12-01 $242,625 (12.9%) $314,952 (20.6%) 0.72 814
2021-01-01 $250,000 (15.0%) $331,455 (25.1%) 0.75 689
2021-02-01 $263,975 (20.0%) $365,284 (33.8%) 0.77 509
2021-03-01 $284,400 (24.3%) $386,983 (34.7%) 0.81 410
2021-04-01 $272,500 (18.5%) $387,313 (36.6%) 0.74 397
2021-05-01 $269,225 (10.4%) $396,489 (32.2%) 0.72 459
2021-06-01 $272,050 (6.3%) $394,780 (24.6%) 0.72 505
2021-07-01 $277,450 (11.6%) $383,617 (20.7%) 0.73 599
2021-08-01 $270,200 (8.1%) $364,639 (14.1%) 0.72 661
2021-09-01 $272,425 (9.0%) $362,113 (14.1%) 0.73 675
2021-10-01 $279,950 (17.7%) $378,716 (21.4%) 0.75 660
2021-11-01 $299,900 (23.7%) $402,516 (29.0%) 0.80 575
2021-12-01 $297,225 (22.5%) $387,938 (23.2%) 0.81 521
2022-01-01 $314,500 (25.8%) $427,302 (28.9%) 0.85 448
2022-02-01 $327,425 (24.0%) $437,726 (19.8%) 0.85 378
2022-03-01 $326,125 (14.7%) $434,662 (12.3%) 0.82 382
2022-04-01 $319,950 (17.4%) $416,888 (7.6%) 0.76 430
2022-05-01 $345,613 (28.4%) $429,755 (8.4%) 0.79 552
2022-06-01 $349,800 (28.6%) $432,315 (9.5%) 0.78 688
2022-07-01 $345,000 (24.4%) $425,202 (10.8%) 0.78 913
2022-08-01 $339,225 (25.6%) $415,812 (14.0%) 0.78 893
2022-09-01 $338,788 (24.4%) $412,872 (14.0%) 0.79 887
2022-10-01 $320,375 (14.4%) $413,797 (9.3%) 0.75 970
2022-11-01 $319,900 (6.7%) $413,205 (2.7%) 0.77 1,020
2022-12-01 $316,000 (6.3%) $402,541 (3.8%) 0.78 1,023
2023-01-01 $312,500 (-0.6%) $394,806 (-7.6%) 0.77 889
2023-02-01 $324,950 (-0.8%) $412,137 (-5.9%) 0.78 789
2023-03-01 $342,500 (5.0%) $444,503 (2.3%) 0.81 712
2023-04-01 $349,900 (9.4%) $454,172 (8.9%) 0.81 685
2023-05-01 $357,475 (3.4%) $454,084 (5.7%) 0.81 713
2023-06-01 $363,475 (3.9%) $446,082 (3.2%) 0.82 768
2023-07-01 $349,900 (1.4%) $437,372 (2.9%) 0.80 858
2023-08-01 $350,000 (3.2%) $436,889 (5.1%) 0.80 934
2023-09-01 $349,000 (3.0%) $417,962 (1.2%) 0.81 1,034
2023-10-01 $331,200 (3.4%) $402,541 (-2.7%) 0.78 1,118
2023-11-01 $314,999 (-1.5%) $395,026 (-4.4%) 0.75 1,181
2023-12-01 $319,200 (1.0%) $398,587 (-1.0%) 0.78 1,136
2024-01-01 $330,000 (5.6%) $407,898 (3.3%) 0.81 1,009
2024-02-01 $337,450 (3.9%) $408,241 (-1.0%) 0.81 942
2024-03-01 $339,948 (-0.8%) $417,825 (-6.0%) 0.80 975
2024-04-01 $340,000 (-2.8%) $423,216 (-6.8%) 0.79 1,065
2024-05-01 $339,986 (-4.9%) $423,485 (-6.7%) 0.77 1,134
2024-06-01 $345,000 (-5.1%) $428,437 (-4.0%) 0.78 1,273
2024-07-01 $340,000 (-2.8%) $424,760 (-2.9%) 0.78 1,367
2024-08-01 $340,000 (-2.9%) $427,648 (-2.1%) 0.79 1,421
2024-09-01 $339,125 (-2.8%) $429,673 (2.8%) 0.80 1,614
2024-10-01 $333,000 (0.5%) $423,235 (5.1%) 0.78 1,657
2024-11-01 $319,995 (1.6%) $421,211 (6.6%) 0.77 1,793
2024-12-01 $315,000 (-1.3%) $414,901 (4.1%) 0.78 1,587
2025-01-01 $319,900 (-3.1%) $415,416 (1.8%) 0.80 1,503
2025-02-01 $322,450 (-4.5%) $409,123 (0.2%) 0.78 1,523
2025-03-01 $329,538 (-3.1%) $418,781 (0.2%) 0.00 1,519
Springfield's median listing price for 2025-03-01 was $329,538, a difference of $-10,410 (-3.1%) versus the prior year and $7,088 versus the prior month.

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

Springfield's average listing price for 2025-03-01 was $418,781, a difference of $956 (0.2%) versus the prior year and $9,658 versus the prior month.

For the 2025-03-01 period, Springfield had 1,519 MLS listings, a difference of -4 listings (0%) versus the prior month and 544 listings (56%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Springfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 80 days 1,923 sqft
2018-02-01 74 days 1,934 sqft
2018-03-01 53 days 1,971 sqft
2018-04-01 50 days 2,028 sqft
2018-05-01 45 days 2,117 sqft
2018-06-01 44 days 2,173 sqft
2018-07-01 45 days 2,123 sqft
2018-08-01 44 days 1,975 sqft
2018-09-01 46 days 1,930 sqft
2018-10-01 52 days 1,912 sqft
2018-11-01 58 days 1,880 sqft
2018-12-01 64 days 1,870 sqft
2019-01-01 72 days 1,888 sqft
2019-02-01 63 days 1,891 sqft
2019-03-01 55 days 1,965 sqft
2019-04-01 51 days 2,082 sqft
2019-05-01 46 days 2,137 sqft
2019-06-01 43 days 2,158 sqft
2019-07-01 47 days 2,095 sqft
2019-08-01 48 days 2,030 sqft
2019-09-01 51 days 1,989 sqft
2019-10-01 52 days 1,963 sqft
2019-11-01 51 days 1,900 sqft
2019-12-01 65 days 1,860 sqft
2020-01-01 79 days 1,860 sqft
2020-02-01 80 days 1,852 sqft
2020-03-01 61 days 1,954 sqft
2020-04-01 48 days 1,935 sqft
2020-05-01 57 days 2,000 sqft
2020-06-01 62 days 2,134 sqft
2020-07-01 44 days 2,123 sqft
2020-08-01 37 days 2,064 sqft
2020-09-01 39 days 2,032 sqft
2020-10-01 36 days 1,958 sqft
2020-11-01 43 days 1,968 sqft
2020-12-01 55 days 1,939 sqft
2021-01-01 57 days 2,000 sqft
2021-02-01 46 days 2,034 sqft
2021-03-01 38 days 2,121 sqft
2021-04-01 22 days 2,069 sqft
2021-05-01 20 days 2,073 sqft
2021-06-01 23 days 2,008 sqft
2021-07-01 23 days 2,016 sqft
2021-08-01 28 days 1,971 sqft
2021-09-01 32 days 1,923 sqft
2021-10-01 32 days 1,933 sqft
2021-11-01 39 days 1,951 sqft
2021-12-01 43 days 1,927 sqft
2022-01-01 49 days 1,946 sqft
2022-02-01 34 days 1,973 sqft
2022-03-01 24 days 2,003 sqft
2022-04-01 20 days 1,955 sqft
2022-05-01 22 days 2,000 sqft
2022-06-01 23 days 2,000 sqft
2022-07-01 29 days 1,994 sqft
2022-08-01 40 days 2,019 sqft
2022-09-01 41 days 1,948 sqft
2022-10-01 38 days 1,920 sqft
2022-11-01 44 days 1,905 sqft
2022-12-01 54 days 1,900 sqft
2023-01-01 62 days 1,924 sqft
2023-02-01 55 days 1,927 sqft
2023-03-01 48 days 1,990 sqft
2023-04-01 40 days 2,000 sqft
2023-05-01 32 days 2,064 sqft
2023-06-01 37 days 2,077 sqft
2023-07-01 32 days 2,017 sqft
2023-08-01 32 days 2,057 sqft
2023-09-01 37 days 2,004 sqft
2023-10-01 38 days 1,955 sqft
2023-11-01 42 days 1,860 sqft
2023-12-01 50 days 1,886 sqft
2024-01-01 60 days 1,910 sqft
2024-02-01 55 days 1,871 sqft
2024-03-01 38 days 1,925 sqft
2024-04-01 36 days 1,927 sqft
2024-05-01 37 days 1,870 sqft
2024-06-01 39 days 1,956 sqft
2024-07-01 44 days 1,930 sqft
2024-08-01 46 days 1,933 sqft
2024-09-01 46 days 1,885 sqft
2024-10-01 53 days 1,872 sqft
2024-11-01 60 days 1,801 sqft
2024-12-01 64 days 1,750 sqft
2025-01-01 66 days 1,743 sqft
2025-02-01 62 days 1,744 sqft
2025-03-01 0 days 1,794 sqft
Springfield's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

Springfield's median square footage for active listings during the 2025-03-01 period was 1,794 sqft. One year prior, the average listing was 1,925 sqft.