St. Cloud USDA Loans

ST. CLOUD, MN

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.

St. Cloud's 34 lenders originated 122 USDA loans during 2021. The total origination value was $24,050,000, with an average USDA loan value of $197,131.

St. Cloud USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in St. Cloud averaged 5.46% for the week of 2022-08-05, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-07-29) was 5.18% and one month ago for the week of 2022-07-01, the average rate was 5.52%.

The average rate one year ago was 3%.

For refis of the same type during the week of 2022-08-05, the average rate was 4.9%.

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

St. Cloud USDA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the St. Cloud level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
CENTRAL MINNESOTA Credit Union 17 3.03% $4,978
PLAZA HOME MORTGAGE, INC. 16 2.68% $5,379
HOME POINT FINANCIAL CORPORATION 14 2.63% $5,180
PRIMELENDING, A PLAINSCAPITAL COMPANY 9 3.26% $6,331
Liberty Bank Minnesota 6 2.56% $5,251
CROSSCOUNTRY MORTGAGE, LLC 5 2.73% $6,387
Flagstar Bank, FSB 4 2.77% $5,221
BROKER SOLUTIONS, INC. 4 3.09% $6,472
Summit Mortgage Corporation 3 3.00% $5,842
BankVista 3 2.46% $5,352
ST. CLOUD FINANCIAL 3 2.88% $5,086
Paramount Residential Mortgage Group, Inc. 3 3.50% $6,781
Bremer Bank 2 2.88% $5,656
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.06% $4,409
Prosperity Home Mortgage, LLC 2 3.00% $5,525
NEWREZ LLC 2 2.31% $15,441
FREEDOM MORTGAGE CORPORATION 2 2.88% $5,570
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 3.19% $6,061
LOANDEPOT.COM, LLC 2 2.81% $7,785
BAY EQUITY LLC 2 3.06% $4,942
Heritage Bank 2 2.81% $6,388
UNION HOME MORTGAGE CORP. 2 2.94% $4,937
Goldwater Bank, N.A. 1 2.75% $6,535
Bank of England 1 2.75% $6,173
Bell Bank 1 2.50% $5,933
CMG MORTGAGE, INC. 1 3.75% $4,662
DATA MORTGAGE, INC. 1 3.13% $6,323
EVERETT FINANCIAL, INC. 1 3.13% $2,181
First Guaranty Mortgage Corporation 1 2.63% $3,689
American Bank of the North 1 2.75% $5,055
GUARANTEED RATE, INC. 1 3.00% $5,395
GUILD MORTGAGE COMPANY 1 3.13% $4,176
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.13% $5,730
Lend Smart Mortgage, LLC 1 2.63% $4,312

The top St. Cloud USDA lender as defined by loan originations is CENTRAL MINNESOTA Credit Union, with 17 USDA loans originated. Their average total fees are $4,978, which is $401 lower than the next largest lender, PLAZA HOME MORTGAGE, INC..

The lowest fee St. Cloud USDA lenders (with over 10 loans originated) are CENTRAL MINNESOTA Credit Union ($4,978), HOME POINT FINANCIAL CORPORATION ($5,180), PLAZA HOME MORTGAGE, INC. ($5,379), .

The lowest rate St. Cloud USDA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (2.63%), PLAZA HOME MORTGAGE, INC. (2.68%), CENTRAL MINNESOTA Credit Union (3.03%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - St. Cloud (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 $214,900 (8.5%) $251,144 (3.5%) 0.79 519
2018-02-01 $218,700 (0.6%) $259,810 (2.1%) 0.79 531
2018-03-01 $234,900 (3.9%) $270,682 (1.6%) 0.81 555
2018-04-01 $252,400 (12.2%) $285,062 (6.7%) 0.85 562
2018-05-01 $252,372 (14.7%) $289,350 (9.3%) 0.84 639
2018-06-01 $255,900 (17.0%) $292,696 (12.0%) 0.85 651
2018-07-01 $250,000 (19.1%) $294,705 (13.9%) 0.83 684
2018-08-01 $249,900 (16.8%) $292,174 (13.0%) 0.84 671
2018-09-01 $245,000 (16.7%) $286,042 (10.6%) 0.82 676
2018-10-01 $245,950 (16.6%) $282,684 (9.1%) 0.82 670
2018-11-01 $229,950 (9.5%) $272,223 (6.8%) 0.77 631
2018-12-01 $234,900 (9.5%) $274,714 (7.3%) 0.80 545
2019-01-01 $229,900 (7.0%) $274,808 (9.4%) 0.79 470
2019-02-01 $234,950 (7.4%) $277,788 (6.9%) 0.79 465
2019-03-01 $243,671 (3.7%) $287,618 (6.3%) 0.79 511
2019-04-01 $249,900 (-1.0%) $292,190 (2.5%) 0.79 582
2019-05-01 $249,850 (-1.0%) $286,905 (-0.9%) 0.77 672
2019-06-01 $249,900 (-2.3%) $288,992 (-1.3%) 0.77 702
2019-07-01 $249,250 (-0.3%) $290,301 (-1.5%) 0.77 725
2019-08-01 $239,943 (-4.0%) $283,905 (-2.8%) 0.76 761
2019-09-01 $239,943 (-2.1%) $280,291 (-2.0%) 0.76 765
2019-10-01 $234,500 (-4.7%) $271,696 (-3.9%) 0.75 726
2019-11-01 $232,900 (1.3%) $271,892 (-0.1%) 0.75 672
2019-12-01 $235,000 (0.0%) $272,639 (-0.8%) 0.78 546
2020-01-01 $233,400 (1.5%) $269,039 (-2.1%) 0.78 476
2020-02-01 $254,900 (8.5%) $290,248 (4.5%) 0.82 479
2020-03-01 $269,900 (10.8%) $305,319 (6.2%) 0.84 481
2020-04-01 $272,450 (9.0%) $307,805 (5.3%) 0.85 501
2020-05-01 $274,900 (10.0%) $307,628 (7.2%) 0.83 536
2020-06-01 $274,900 (10.0%) $311,856 (7.9%) 0.80 519
2020-07-01 $269,450 (8.1%) $309,821 (6.7%) 0.77 473
2020-08-01 $258,900 (7.9%) $306,732 (8.0%) 0.74 439
2020-09-01 $269,900 (12.5%) $317,717 (13.4%) 0.77 431
2020-10-01 $259,800 (10.8%) $313,883 (15.5%) 0.74 418
2020-11-01 $252,000 (8.2%) $308,576 (13.5%) 0.72 334
2020-12-01 $252,450 (7.4%) $311,233 (14.2%) 0.74 274
2021-01-01 $254,000 (8.8%) $314,428 (16.9%) 0.75 224
2021-02-01 $272,450 (6.9%) $352,191 (21.3%) 0.78 205
2021-03-01 $299,250 (10.9%) $363,401 (19.0%) 0.84 195
2021-04-01 $299,900 (10.1%) $356,402 (15.8%) 0.81 196
2021-05-01 $304,000 (10.6%) $360,381 (17.2%) 0.80 203
2021-06-01 $284,900 (3.6%) $347,099 (11.3%) 0.74 272
2021-07-01 $289,950 (7.6%) $348,742 (12.6%) 0.75 299
2021-08-01 $289,950 (12.0%) $341,487 (11.3%) 0.76 331
2021-09-01 $299,000 (10.8%) $341,072 (7.4%) 0.79 330
2021-10-01 $285,000 (9.7%) $332,637 (6.0%) 0.75 335
2021-11-01 $298,450 (18.4%) $337,184 (9.3%) 0.79 280
2021-12-01 $299,900 (18.8%) $352,901 (13.4%) 0.80 231
2022-01-01 $315,000 (24.0%) $368,465 (17.2%) 0.84 166
2022-02-01 $327,000 (20.0%) $377,528 (7.2%) 0.83 145
2022-03-01 $334,450 (11.8%) $398,963 (9.8%) 0.83 149
2022-04-01 $344,900 (15.0%) $402,487 (12.9%) 0.81 176
2022-05-01 $334,450 (10.0%) $400,795 (11.2%) 0.75 226
2022-06-01 $328,900 (15.4%) $387,307 (11.6%) 0.73 286
St. Cloud's median listing price for 2022-06-01 was $328,900, a difference of $44,000 (15.4%) versus the prior year and $-5,550 versus the prior month.

St. Cloud's median listing price comes in at 73% of the national average.

St. Cloud's average listing price for 2022-06-01 was $387,307, a difference of $40,208 (11.6%) versus the prior year and $-13,488 versus the prior month.

For the 2022-06-01 period, St. Cloud had 286 MLS listings, a difference of 60 listings (27%) versus the prior month and 14 listings (5%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - St. Cloud (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 102 days 1,828 sqft
2018-02-01 94 days 1,874 sqft
2018-03-01 64 days 1,887 sqft
2018-04-01 63 days 1,987 sqft
2018-05-01 54 days 1,990 sqft
2018-06-01 51 days 2,018 sqft
2018-07-01 53 days 2,031 sqft
2018-08-01 59 days 2,019 sqft
2018-09-01 59 days 2,016 sqft
2018-10-01 59 days 2,000 sqft
2018-11-01 64 days 1,949 sqft
2018-12-01 82 days 1,885 sqft
2019-01-01 92 days 1,870 sqft
2019-02-01 80 days 1,860 sqft
2019-03-01 57 days 1,916 sqft
2019-04-01 42 days 2,012 sqft
2019-05-01 38 days 1,984 sqft
2019-06-01 42 days 1,988 sqft
2019-07-01 48 days 1,993 sqft
2019-08-01 51 days 1,967 sqft
2019-09-01 58 days 1,939 sqft
2019-10-01 63 days 1,923 sqft
2019-11-01 71 days 1,928 sqft
2019-12-01 84 days 1,956 sqft
2020-01-01 90 days 1,974 sqft
2020-02-01 84 days 2,044 sqft
2020-03-01 53 days 2,106 sqft
2020-04-01 49 days 2,112 sqft
2020-05-01 50 days 2,100 sqft
2020-06-01 48 days 2,071 sqft
2020-07-01 50 days 2,046 sqft
2020-08-01 50 days 2,112 sqft
2020-09-01 48 days 2,081 sqft
2020-10-01 45 days 2,016 sqft
2020-11-01 54 days 1,921 sqft
2020-12-01 68 days 1,887 sqft
2021-01-01 78 days 1,849 sqft
2021-02-01 58 days 1,916 sqft
2021-03-01 41 days 1,920 sqft
2021-04-01 37 days 1,919 sqft
2021-05-01 41 days 1,950 sqft
2021-06-01 32 days 1,892 sqft
2021-07-01 33 days 1,904 sqft
2021-08-01 36 days 1,945 sqft
2021-09-01 39 days 1,927 sqft
2021-10-01 42 days 1,910 sqft
2021-11-01 48 days 1,943 sqft
2021-12-01 58 days 1,917 sqft
2022-01-01 76 days 1,888 sqft
2022-02-01 66 days 2,240 sqft
2022-03-01 40 days 2,229 sqft
2022-04-01 32 days 2,247 sqft
2022-05-01 24 days 2,095 sqft
2022-06-01 29 days 2,067 sqft
St. Cloud's median listing age (time on market) for 2022-06-01 was 29 days. This is -8% shorter than the same period one year ago.

St. Cloud's median square footage for active listings during the 2022-06-01 period was 2,067 sqft. One year prior, the average listing was 1,892 sqft.