Springfield USDA Loan Rates, Closing Costs & Stats

SPRINGFIELD, MO

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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.

    Springfield's 38 lenders originated 160 USDA loans during 2023. The total origination value was $30,950,000, with an average USDA loan value of $193,438.

    Springfield USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Springfield averaged 0.11% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    Springfield's average USDA mortgage closing costs are $4,190.

    The average rate for the prior week (2024-11-08) was 6.66% and one month ago for the week of 2024-10-11, the average rate was 6.02%.

    The average rate one year ago was 7.35%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.1%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FLAT BRANCH MORTGAGE, INC. 24 6.77% $5,419
    DAS Acquisition Company, LLC 20 7.13% $6,522
    GERSHMAN INVESTMENT CORP. 17 6.95% $5,596
    Mortgage Research Center, LLC 8 6.55% $4,124
    The Central Trust Bank 8 6.45% $5,405
    Springfield First Community Bank 7 6.55% $6,475
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 7.02% $6,671
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.54% $8,181
    Paramount Residential Mortgage Group, Inc. 4 6.44% $7,295
    UNITED WHOLESALE MORTGAGE, LLC 4 5.88% $12,238
    GUILD MORTGAGE COMPANY 4 6.50% $5,169
    BROKER SOLUTIONS, INC. 3 6.92% $6,092
    ASSEMBLIES OF GOD Credit Union 3 6.21% $4,221
    Great Southern Bank 3 6.04% $5,151
    Hawthorn Bank 3 6.16% $4,445
    Equity Prime Mortgage LLC 3 6.33% $6,866
    CARDINAL FINANCIAL 2 6.44% $8,079
    Prosperity Home Mortgage, LLC 2 6.63% $4,988
    Oakstar Bank 2 6.19% $4,466
    UNION HOME MORTGAGE CORP. 2 7.25% $9,718
    Arvest Bank 2 7.00% $5,610
    Ameris Bank 2 6.19% $4,032
    U.S. Bank 1 6.63% $4,654
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $5,130
    BancorpSouth 1 5.75% $6,060
    BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 5.99% $5,226
    Commerce Bank 1 6.13% $3,735
    COMMUNITY MORTGAGE, LLC 1 6.75% $3,676
    Flagstar Bank, FSB 1 6.43% $5,821
    HOMESIDE FINANCIAL, LLC 1 7.25% $4,339
    LOANDEPOT.COM, LLC 1 6.63% $5,102
    MORTGAGE FINANCIAL SERVICES, LLC 1 6.49% $6,255
    MOVEMENT MORTGAGE, LLC 1 6.63% $5,474
    Nations Lending Corporation 1 7.50% $3,033
    Servion, Inc. 1 6.25% $4,598
    Simmons Bank 1 6.38% $4,276
    Southern Bank 1 6.50% $4,193
    SUN WEST MORTGAGE COMPANY, INC. 1 5.75% $11,731

    The top Springfield USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 24 USDA loans originated. Their average total fees are $5,419, which is $1,103 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. ($5,419), GERSHMAN INVESTMENT CORP. ($5,596), DAS Acquisition Company, LLC ($6,522), .

    The lowest rate Springfield USDA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. (6.77%), GERSHMAN INVESTMENT CORP. (6.95%), DAS Acquisition Company, LLC (7.13%), .

    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 1,627
    2018-02-01 $184,450 (15.4%) $240,981 (12.3%) 0.67 1,569
    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 (10.0%) 0.72 1,663
    2018-07-01 $205,000 (14.0%) $266,342 (9.4%) 0.68 1,775
    2018-08-01 $189,900 (4.4%) $250,567 (2.4%) 0.64 1,944
    2018-09-01 $189,500 (5.3%) $246,948 (2.5%) 0.64 1,956
    2018-10-01 $186,950 (3.9%) $243,010 (0.8%) 0.63 1,955
    2018-11-01 $183,250 (2.2%) $241,238 (0.5%) 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 (4.2%) $242,498 (0.6%) 0.65 1,569
    2019-03-01 $205,714 (8.3%) $252,274 (3.3%) 0.67 1,472
    2019-04-01 $222,500 (11.3%) $265,965 (4.0%) 0.71 1,376
    2019-05-01 $237,448 (14.2%) $278,000 (5.5%) 0.74 1,362
    2019-06-01 $232,450 (7.1%) $280,759 (4.0%) 0.73 1,520
    2019-07-01 $227,413 (10.9%) $276,044 (3.6%) 0.71 1,564
    2019-08-01 $223,536 (17.7%) $270,237 (7.9%) 0.71 1,646
    2019-09-01 $221,491 (16.9%) $268,105 (8.6%) 0.71 1,661
    2019-10-01 $220,127 (17.8%) $266,423 (9.6%) 0.71 1,682
    2019-11-01 $217,000 (18.4%) $261,760 (8.5%) 0.71 1,698
    2019-12-01 $214,900 (17.5%) $261,175 (9.6%) 0.72 1,576
    2020-01-01 $217,200 (14.4%) $265,035 (9.8%) 0.73 1,454
    2020-02-01 $219,900 (14.4%) $272,984 (12.6%) 0.72 1,342
    2020-03-01 $228,375 (11.0%) $287,330 (13.9%) 0.72 1,289
    2020-04-01 $229,900 (3.3%) $283,449 (6.6%) 0.72 1,349
    2020-05-01 $242,900 (2.3%) $300,019 (7.9%) 0.74 1,201
    2020-06-01 $254,420 (9.5%) $316,983 (12.9%) 0.75 1,067
    2020-07-01 $248,200 (9.1%) $317,859 (15.2%) 0.72 1,030
    2020-08-01 $249,900 (11.8%) $319,570 (18.3%) 0.72 985
    2020-09-01 $249,925 (12.8%) $317,422 (18.4%) 0.72 988
    2020-10-01 $237,900 (8.1%) $312,008 (17.1%) 0.68 1,017
    2020-11-01 $242,450 (11.7%) $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 (15.1%) $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 (24.5%) $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 (10.8%) $396,489 (32.2%) 0.72 459
    2021-06-01 $272,050 (6.9%) $394,780 (24.5%) 0.72 505
    2021-07-01 $277,450 (11.8%) $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 $349,900 (28.6%) $432,661 (9.6%) 0.78 687
    2022-07-01 $345,000 (24.4%) $425,482 (10.9%) 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%) $413,574 (9.2%) 0.75 970
    2022-11-01 $319,900 (6.7%) $412,983 (2.6%) 0.77 1,019
    2022-12-01 $315,000 (6.0%) $402,231 (3.7%) 0.78 1,021
    2023-01-01 $312,500 (-0.6%) $394,430 (-7.7%) 0.77 887
    2023-02-01 $324,950 (-0.8%) $411,902 (-5.9%) 0.78 787
    2023-03-01 $342,500 (5.0%) $444,215 (2.2%) 0.81 710
    2023-04-01 $348,700 (9.0%) $454,179 (9.0%) 0.81 684
    2023-05-01 $357,425 (3.4%) $454,180 (5.7%) 0.81 712
    2023-06-01 $363,475 (3.9%) $446,082 (3.1%) 0.82 768
    2023-07-01 $349,900 (1.4%) $437,372 (2.8%) 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 (1.3%) $398,587 (-0.9%) 0.78 1,136
    2024-01-01 $330,000 (5.6%) $407,898 (3.4%) 0.81 1,009
    2024-02-01 $337,450 (3.9%) $408,241 (-0.9%) 0.81 942
    2024-03-01 $339,948 (-0.8%) $417,825 (-5.9%) 0.80 975
    2024-04-01 $340,000 (-2.5%) $423,216 (-6.8%) 0.79 1,065
    2024-05-01 $340,000 (-4.9%) $424,432 (-6.6%) 0.77 1,134
    2024-06-01 $345,000 (-5.1%) $427,675 (-4.1%) 0.78 1,272
    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
    Springfield's median listing price for 2024-10-01 was $333,000, a difference of $1,800 (0.5%) versus the prior year and $-6,125 versus the prior month.

    Springfield's median listing price comes in at 78% of the national average.

    Springfield's average listing price for 2024-10-01 was $423,235, a difference of $20,694 (5.1%) versus the prior year and $-6,438 versus the prior month.

    For the 2024-10-01 period, Springfield had 1,657 MLS listings, a difference of 43 listings (3%) versus the prior month and 539 listings (48%) 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 52 days 2,081 sqft
    2019-05-01 46 days 2,137 sqft
    2019-06-01 43 days 2,159 sqft
    2019-07-01 47 days 2,095 sqft
    2019-08-01 49 days 2,029 sqft
    2019-09-01 51 days 1,987 sqft
    2019-10-01 52 days 1,959 sqft
    2019-11-01 52 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 1,850 sqft
    2020-03-01 61 days 1,954 sqft
    2020-04-01 48 days 1,934 sqft
    2020-05-01 57 days 2,000 sqft
    2020-06-01 62 days 2,134 sqft
    2020-07-01 44 days 2,118 sqft
    2020-08-01 37 days 2,064 sqft
    2020-09-01 39 days 2,031 sqft
    2020-10-01 36 days 1,954 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 2,118 sqft
    2021-04-01 22 days 2,071 sqft
    2021-05-01 20 days 2,074 sqft
    2021-06-01 23 days 2,010 sqft
    2021-07-01 23 days 2,020 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 1,929 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 1,993 sqft
    2022-08-01 40 days 2,017 sqft
    2022-09-01 41 days 1,947 sqft
    2022-10-01 38 days 1,920 sqft
    2022-11-01 44 days 1,904 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 47 days 1,990 sqft
    2023-04-01 40 days 2,003 sqft
    2023-05-01 32 days 2,066 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 1,954 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 1,926 sqft
    2024-04-01 36 days 1,927 sqft
    2024-05-01 37 days 1,876 sqft
    2024-06-01 38 days 1,957 sqft
    2024-07-01 44 days 1,931 sqft
    2024-08-01 46 days 1,934 sqft
    2024-09-01 46 days 1,886 sqft
    2024-10-01 53 days 1,872 sqft
    Springfield's median listing age (time on market) for 2024-10-01 was 53 days. This is 40% longer than the same period one year ago.

    Springfield's median square footage for active listings during the 2024-10-01 period was 1,872 sqft. One year prior, the average listing was 1,954 sqft.