St. Cloud USDA Loans

ST. CLOUD, MN

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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.

    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.