Springfield USDA Loan Rates, Closing Costs & Stats

SPRINGFIELD, OH

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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 21 lenders originated 30 USDA loans during 2024. The total origination value was $5,620,000, with an average USDA loan value of $187,333.

    Springfield USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Springfield averaged 6.81% for the week of 2025-04-04, compared to the national average (all USDA variants) of 6.324% for the same period.

    Springfield's average USDA mortgage closing costs are $4,807.

    The average rate for the prior week (2025-03-28) was 6.67% and one month ago for the week of 2025-02-28, the average rate was 6.72%.

    The average rate one year ago was 6.77%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.17%.

    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
    POLARIS HOME FUNDING CORP. 3 6.58% $6,606
    CROSSCOUNTRY MORTGAGE, LLC 3 6.81% $8,495
    LOANDEPOT.COM, LLC 2 6.81% $5,571
    Equity Prime Mortgage LLC 2 6.38% $9,498
    Hometown Equity Mortgage, LLC 2 6.25% $8,784
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.69% $6,939
    Union Savings Bank 2 6.38% $5,646
    GUARANTEED RATE, INC. 1 6.25% $6,012
    HOMESIDE FINANCIAL, LLC 1 6.62% $7,209
    UNITED WHOLESALE MORTGAGE, LLC 1 6.66% $6,661
    Fifth Third Bank 1 5.88% $7,026
    MID AMERICA MORTGAGE, INC. 1 6.63% $7,553
    Mortgage Research Center, LLC 1 6.75% $3,499
    NEWREZ LLC 1 6.75% $5,899
    DAS Acquisition Company, LLC 1 7.13% $6,106
    VILLAGE CAPITAL MORTGAGE 1 6.38% $12,908
    UNION HOME MORTGAGE CORP. 1 7.13% $7,060
    WesBanco 1 6.25% $5,682
    First Financial Bank 1 5.75% $6,004
    Gateway First Bank 1 6.75% $5,461
    GENEVA FINANCIAL, LLC 1 7.75% $10,480

    The top Springfield USDA lender as defined by loan originations is POLARIS HOME FUNDING CORP., with 3 USDA loans originated. Their average total fees are $6,606, which is $1,889 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

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

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

    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 $97,100 (10.1%) $133,299 (2.5%) 0.39 403
    2018-02-01 $97,675 (13.3%) $136,861 (3.6%) 0.37 362
    2018-03-01 $93,400 (9.0%) $132,347 (-3.6%) 0.34 354
    2018-04-01 $97,850 (15.3%) $134,574 (-0.7%) 0.34 343
    2018-05-01 $99,375 (11.4%) $143,987 (5.6%) 0.36 368
    2018-06-01 $109,900 (22.3%) $150,439 (8.9%) 0.37 387
    2018-07-01 $107,225 (16.2%) $149,644 (3.6%) 0.37 387
    2018-08-01 $107,169 (17.1%) $153,037 (6.4%) 0.37 400
    2018-09-01 $106,000 (10.4%) $151,365 (4.0%) 0.37 403
    2018-10-01 $99,475 (4.9%) $147,151 (2.9%) 0.33 421
    2018-11-01 $99,900 (3.4%) $143,833 (0.9%) 0.34 414
    2018-12-01 $99,900 (0.0%) $142,953 (3.9%) 0.36 376
    2019-01-01 $100,550 (3.6%) $137,727 (3.3%) 0.38 297
    2019-02-01 $98,350 (0.7%) $138,017 (0.8%) 0.37 268
    2019-03-01 $104,636 (12.0%) $142,817 (7.9%) 0.38 255
    2019-04-01 $111,475 (13.9%) $148,278 (10.2%) 0.38 243
    2019-05-01 $112,400 (13.1%) $146,715 (1.9%) 0.39 259
    2019-06-01 $119,900 (9.1%) $156,393 (4.0%) 0.40 249
    2019-07-01 $123,325 (15.0%) $155,258 (3.8%) 0.41 283
    2019-08-01 $118,295 (10.4%) $150,034 (-2.0%) 0.41 305
    2019-09-01 $115,739 (9.2%) $149,172 (-1.5%) 0.41 305
    2019-10-01 $114,409 (15.0%) $146,979 (-0.1%) 0.41 310
    2019-11-01 $109,900 (10.0%) $142,188 (-1.1%) 0.37 321
    2019-12-01 $109,900 (10.0%) $142,282 (-0.5%) 0.38 304
    2020-01-01 $104,725 (4.2%) $146,436 (6.3%) 0.36 269
    2020-02-01 $98,875 (0.5%) $143,230 (3.8%) 0.32 224
    2020-03-01 $105,713 (1.0%) $150,260 (5.2%) 0.34 208
    2020-04-01 $102,450 (-8.1%) $147,647 (-0.4%) 0.31 190
    2020-05-01 $115,000 (2.3%) $157,856 (7.6%) 0.33 150
    2020-06-01 $127,975 (6.7%) $174,028 (11.3%) 0.39 129
    2020-07-01 $159,663 (29.5%) $186,776 (20.3%) 0.46 132
    2020-08-01 $158,200 (33.7%) $185,648 (23.7%) 0.46 130
    2020-09-01 $134,100 (15.9%) $175,452 (17.6%) 0.37 118
    2020-10-01 $139,900 (22.3%) $179,458 (22.1%) 0.40 125
    2020-11-01 $136,175 (23.9%) $181,597 (27.7%) 0.40 123
    2020-12-01 $134,375 (22.3%) $180,276 (26.7%) 0.41 95
    2021-01-01 $131,750 (25.8%) $178,982 (22.2%) 0.40 83
    2021-02-01 $152,475 (54.2%) $177,587 (24.0%) 0.43 61
    2021-03-01 $136,425 (29.1%) $181,254 (20.6%) 0.36 63
    2021-04-01 $174,900 (70.7%) $200,081 (35.5%) 0.46 67
    2021-05-01 $183,700 (59.7%) $208,905 (32.3%) 0.50 73
    2021-06-01 $166,175 (29.9%) $186,173 (7.0%) 0.45 112
    2021-07-01 $150,000 (-6.1%) $184,412 (-1.3%) 0.43 162
    2021-08-01 $150,000 (-5.2%) $181,662 (-2.2%) 0.38 196
    2021-09-01 $142,613 (6.4%) $175,085 (-0.2%) 0.38 179
    2021-10-01 $139,950 (0.0%) $180,507 (0.6%) 0.37 178
    2021-11-01 $158,675 (16.5%) $188,727 (3.9%) 0.41 179
    2021-12-01 $140,575 (4.6%) $186,521 (3.5%) 0.38 168
    2022-01-01 $157,900 (19.9%) $196,051 (9.5%) 0.42 120
    2022-02-01 $165,875 (8.8%) $208,562 (17.4%) 0.42 93
    2022-03-01 $197,200 (44.6%) $245,187 (35.3%) 0.49 77
    2022-04-01 $179,950 (2.9%) $246,956 (23.4%) 0.45 77
    2022-05-01 $177,250 (-3.5%) $229,428 (9.8%) 0.40 96
    2022-06-01 $169,950 (2.3%) $226,163 (21.5%) 0.37 110
    2022-07-01 $187,900 (25.3%) $241,726 (31.1%) 0.42 143
    2022-08-01 $169,650 (13.1%) $214,506 (18.1%) 0.38 171
    2022-09-01 $166,950 (17.1%) $213,339 (21.9%) 0.00 181
    2022-10-01 $168,950 (20.7%) $216,417 (19.9%) 0.00 190
    2022-11-01 $166,825 (5.1%) $209,174 (10.8%) 0.00 190
    2022-12-01 $177,150 (26.0%) $220,687 (18.3%) 0.00 167
    2023-01-01 $166,075 (5.2%) $218,383 (11.4%) 0.00 136
    2023-02-01 $161,400 (-2.7%) $220,734 (5.8%) 0.00 110
    2023-03-01 $172,075 (-12.7%) $234,207 (-4.5%) 0.00 96
    2023-04-01 $157,250 (-12.6%) $208,525 (-15.6%) 0.00 87
    2023-05-01 $145,000 (-18.2%) $209,546 (-8.7%) 0.00 85
    2023-06-01 $191,150 (12.5%) $239,202 (5.8%) 0.00 89
    2023-07-01 $204,500 (8.8%) $229,074 (-5.2%) 0.00 104
    2023-08-01 $197,000 (16.1%) $216,637 (1.0%) 0.00 118
    2023-09-01 $199,900 (19.7%) $231,252 (8.4%) 0.00 144
    2023-10-01 $199,450 (18.1%) $237,717 (9.8%) 0.00 152
    2023-11-01 $195,700 (17.3%) $235,699 (12.7%) 0.00 180
    2023-12-01 $199,900 (12.8%) $247,662 (12.2%) 0.00 164
    2024-01-01 $199,450 (20.1%) $243,480 (11.5%) 0.00 135
    2024-02-01 $182,400 (13.0%) $234,807 (6.4%) 0.00 115
    2024-03-01 $187,900 (9.2%) $253,000 (8.0%) 0.00 95
    2024-04-01 $191,650 (21.9%) $260,214 (24.8%) 0.00 110
    2024-05-01 $211,075 (45.6%) $269,497 (28.6%) 0.00 120
    2024-06-01 $219,900 (15.0%) $281,010 (17.5%) 0.00 133
    2024-07-01 $215,575 (5.4%) $275,064 (20.1%) 0.00 154
    2024-08-01 $226,000 (14.7%) $284,836 (31.5%) 0.00 198
    2024-09-01 $225,225 (12.7%) $280,604 (21.3%) 0.00 239
    2024-10-01 $219,950 (10.3%) $271,358 (14.2%) 0.00 271
    2024-11-01 $215,000 (9.9%) $259,979 (10.3%) 0.00 272
    2024-12-01 $209,675 (4.9%) $256,472 (3.6%) 0.00 253
    2025-01-01 $199,950 (0.3%) $259,816 (6.7%) 0.00 235
    2025-02-01 $199,925 (9.6%) $258,510 (10.1%) 0.00 220
    2025-03-01 $198,000 (5.4%) $272,796 (7.8%) 0.00 213
    Springfield's median listing price for 2025-03-01 was $198,000, a difference of $10,100 (5.4%) versus the prior year and $-1,925 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 $272,796, a difference of $19,796 (7.8%) versus the prior year and $14,286 versus the prior month.

    For the 2025-03-01 period, Springfield had 213 MLS listings, a difference of -7 listings (-3%) versus the prior month and 118 listings (124%) 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 89 days 1,458 sqft
    2018-02-01 95 days 1,456 sqft
    2018-03-01 80 days 1,455 sqft
    2018-04-01 56 days 1,464 sqft
    2018-05-01 53 days 1,490 sqft
    2018-06-01 52 days 1,512 sqft
    2018-07-01 59 days 1,503 sqft
    2018-08-01 60 days 1,524 sqft
    2018-09-01 54 days 1,501 sqft
    2018-10-01 61 days 1,444 sqft
    2018-11-01 66 days 1,420 sqft
    2018-12-01 81 days 1,445 sqft
    2019-01-01 88 days 1,406 sqft
    2019-02-01 85 days 1,411 sqft
    2019-03-01 69 days 1,450 sqft
    2019-04-01 49 days 1,491 sqft
    2019-05-01 44 days 1,465 sqft
    2019-06-01 39 days 1,520 sqft
    2019-07-01 41 days 1,510 sqft
    2019-08-01 41 days 1,510 sqft
    2019-09-01 45 days 1,496 sqft
    2019-10-01 45 days 1,484 sqft
    2019-11-01 50 days 1,435 sqft
    2019-12-01 60 days 1,429 sqft
    2020-01-01 70 days 1,421 sqft
    2020-02-01 72 days 1,386 sqft
    2020-03-01 56 days 1,450 sqft
    2020-04-01 51 days 1,530 sqft
    2020-05-01 62 days 1,567 sqft
    2020-06-01 52 days 1,604 sqft
    2020-07-01 34 days 1,650 sqft
    2020-08-01 34 days 1,588 sqft
    2020-09-01 31 days 1,455 sqft
    2020-10-01 25 days 1,479 sqft
    2020-11-01 39 days 1,478 sqft
    2020-12-01 51 days 1,445 sqft
    2021-01-01 55 days 1,423 sqft
    2021-02-01 40 days 1,403 sqft
    2021-03-01 35 days 1,382 sqft
    2021-04-01 30 days 1,516 sqft
    2021-05-01 31 days 1,600 sqft
    2021-06-01 29 days 1,497 sqft
    2021-07-01 27 days 1,490 sqft
    2021-08-01 32 days 1,471 sqft
    2021-09-01 40 days 1,448 sqft
    2021-10-01 42 days 1,462 sqft
    2021-11-01 35 days 1,457 sqft
    2021-12-01 48 days 1,413 sqft
    2022-01-01 74 days 1,445 sqft
    2022-02-01 84 days 1,466 sqft
    2022-03-01 64 days 1,519 sqft
    2022-04-01 43 days 1,399 sqft
    2022-05-01 31 days 1,339 sqft
    2022-06-01 30 days 1,397 sqft
    2022-07-01 23 days 1,429 sqft
    2022-08-01 30 days 1,468 sqft
    2022-09-01 0 days 1,448 sqft
    2022-10-01 0 days 1,414 sqft
    2022-11-01 0 days 1,427 sqft
    2022-12-01 0 days 1,464 sqft
    2023-01-01 0 days 1,423 sqft
    2023-02-01 0 days 1,482 sqft
    2023-03-01 0 days 1,467 sqft
    2023-04-01 0 days 1,477 sqft
    2023-05-01 0 days 1,454 sqft
    2023-06-01 0 days 1,501 sqft
    2023-07-01 0 days 1,624 sqft
    2023-08-01 0 days 1,437 sqft
    2023-09-01 0 days 1,450 sqft
    2023-10-01 0 days 1,456 sqft
    2023-11-01 0 days 1,388 sqft
    2023-12-01 0 days 1,372 sqft
    2024-01-01 0 days 1,370 sqft
    2024-02-01 0 days 1,381 sqft
    2024-03-01 0 days 1,364 sqft
    2024-04-01 0 days 1,370 sqft
    2024-05-01 0 days 1,500 sqft
    2024-06-01 0 days 1,490 sqft
    2024-07-01 0 days 1,527 sqft
    2024-08-01 0 days 1,569 sqft
    2024-09-01 0 days 1,516 sqft
    2024-10-01 0 days 1,497 sqft
    2024-11-01 0 days 1,454 sqft
    2024-12-01 0 days 1,420 sqft
    2025-01-01 0 days 1,408 sqft
    2025-02-01 0 days 1,357 sqft
    2025-03-01 0 days 1,450 sqft
    Springfield's median listing age (time on market) for 2025-03-01 was 0 days.

    Springfield's median square footage for active listings during the 2025-03-01 period was 1,450 sqft. One year prior, the average listing was 1,364 sqft.