Sterling USDA Loan Rates, Closing Costs & Stats

Sterling, IL

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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.

    Sterling's 14 lenders originated 28 USDA loans during 2023. The total origination value was $2,760,000, with an average USDA loan value of $98,571.

    Sterling USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Sterling averaged 7.16% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Sterling's average USDA mortgage closing costs are $3,621.

    The average rate for the prior week (2024-04-12) was 6.91% and one month ago for the week of 2024-03-15, the average rate was 6.89%.

    The average rate one year ago was 6.53%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Sterling 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 Sterling level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CROSSCOUNTRY MORTGAGE, LLC 8 7.14% $5,184
    Flanagan State Bank 4 6.69% $5,146
    Fifth Third Bank 2 6.00% $3,701
    Paramount Residential Mortgage Group, Inc. 2 6.81% $3,533
    BROKER SOLUTIONS, INC. 2 7.11% $4,816
    Mortgage Assurance Inc. 1 6.75% $4,619
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.63% $6,481
    PLANET HOME LENDING, LLC 1 6.75% $4,609
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $5,518
    SUN WEST MORTGAGE COMPANY, INC. 1 7.00% $4,579
    Community Mortgage Banc Corporation 1 6.50% $3,542
    GREENSTATE CREDIT UNION 1 5.63% $3,322
    GUARANTEED RATE, INC. 1 7.50% $4,142
    GUILD MORTGAGE COMPANY 1 6.88% $5,277

    The top Sterling USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 8 USDA loans originated. Their average total fees are $5,184, which is $38 higher than the next largest lender, Flanagan State Bank.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Sterling (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 $89,900 (-9.8%) $110,614 (-9.2%) 0.00 252
    2018-02-01 $89,950 (-9.7%) $114,807 (-8.3%) 0.00 242
    2018-03-01 $89,900 (-12.7%) $117,849 (-8.5%) 0.00 224
    2018-04-01 $91,900 (-7.6%) $119,210 (-2.4%) 0.00 239
    2018-05-01 $89,900 (-9.9%) $116,679 (-8.5%) 0.00 255
    2018-06-01 $92,700 (-9.5%) $120,166 (-7.0%) 0.00 273
    2018-07-01 $99,700 (-0.2%) $133,199 (6.0%) 0.00 281
    2018-08-01 $90,625 (-9.1%) $128,083 (3.1%) 0.00 292
    2018-09-01 $94,900 (0.0%) $128,076 (6.6%) 0.00 297
    2018-10-01 $96,750 (3.4%) $127,088 (7.4%) 0.00 273
    2018-11-01 $99,900 (11.1%) $132,930 (21.0%) 0.00 255
    2018-12-01 $99,200 (10.3%) $131,538 (19.9%) 0.00 251
    2019-01-01 $98,675 (9.8%) $132,295 (19.6%) 0.00 235
    2019-02-01 $96,425 (7.2%) $133,296 (16.1%) 0.00 226
    2019-03-01 $96,614 (7.5%) $131,145 (11.3%) 0.00 227
    2019-04-01 $94,900 (3.3%) $127,440 (6.9%) 0.00 234
    2019-05-01 $97,400 (8.3%) $128,539 (10.2%) 0.00 233
    2019-06-01 $99,900 (7.8%) $132,365 (10.2%) 0.00 227
    2019-07-01 $99,900 (0.2%) $136,961 (2.8%) 0.00 236
    2019-08-01 $97,173 (7.2%) $135,370 (5.7%) 0.00 248
    2019-09-01 $93,082 (-1.9%) $132,820 (3.7%) 0.00 268
    2019-10-01 $90,175 (-6.8%) $130,708 (2.9%) 0.00 279
    2019-11-01 $89,900 (-10.0%) $129,244 (-2.8%) 0.00 274
    2019-12-01 $88,625 (-10.7%) $129,536 (-1.5%) 0.00 256
    2020-01-01 $89,375 (-9.4%) $129,886 (-1.8%) 0.00 233
    2020-02-01 $89,000 (-7.7%) $134,065 (0.6%) 0.00 210
    2020-03-01 $89,700 (-7.2%) $134,300 (2.4%) 0.00 213
    2020-04-01 $93,350 (-1.6%) $125,688 (-1.4%) 0.00 209
    2020-05-01 $91,900 (-5.7%) $127,396 (-0.9%) 0.00 194
    2020-06-01 $94,450 (-5.5%) $129,932 (-1.8%) 0.00 182
    2020-07-01 $84,900 (-15.0%) $136,083 (-0.6%) 0.00 179
    2020-08-01 $89,900 (-7.5%) $137,136 (1.3%) 0.00 182
    2020-09-01 $89,900 (-3.4%) $137,987 (3.9%) 0.00 177
    2020-10-01 $89,900 (-0.3%) $134,993 (3.3%) 0.00 167
    2020-11-01 $85,225 (-5.2%) $144,353 (11.7%) 0.00 156
    2020-12-01 $85,375 (-3.7%) $132,627 (2.4%) 0.00 156
    2021-01-01 $83,900 (-6.1%) $125,209 (-3.6%) 0.00 138
    2021-02-01 $84,925 (-4.6%) $120,703 (-10.0%) 0.00 121
    2021-03-01 $79,900 (-10.9%) $133,002 (-1.0%) 0.00 93
    2021-04-01 $79,900 (-14.4%) $133,321 (6.1%) 0.00 90
    2021-05-01 $79,900 (-13.1%) $132,624 (4.1%) 0.00 92
    2021-06-01 $99,900 (5.8%) $136,049 (4.7%) 0.00 96
    2021-07-01 $104,900 (23.6%) $129,736 (-4.7%) 0.00 108
    2021-08-01 $110,000 (22.4%) $144,557 (5.4%) 0.00 120
    2021-09-01 $112,450 (25.1%) $144,677 (4.9%) 0.00 120
    2021-10-01 $107,900 (20.0%) $148,544 (10.0%) 0.00 108
    2021-11-01 $114,900 (34.8%) $158,318 (9.7%) 0.00 117
    2021-12-01 $99,350 (16.4%) $147,074 (10.9%) 0.00 120
    2022-01-01 $102,900 (22.7%) $152,532 (21.8%) 0.00 103
    2022-02-01 $101,824 (19.9%) $158,640 (31.4%) 0.00 83
    2022-03-01 $95,625 (19.7%) $168,810 (26.9%) 0.00 73
    2022-04-01 $105,000 (31.4%) $170,427 (27.8%) 0.00 68
    2022-05-01 $117,400 (46.9%) $161,558 (21.8%) 0.00 85
    2022-06-01 $117,400 (17.5%) $160,405 (17.9%) 0.00 95
    2022-07-01 $119,900 (14.3%) $164,474 (26.8%) 0.00 112
    2022-08-01 $131,150 (19.2%) $168,564 (16.6%) 0.00 126
    2022-09-01 $132,400 (17.7%) $170,282 (17.7%) 0.00 126
    2022-10-01 $134,900 (25.0%) $179,980 (21.2%) 0.00 121
    2022-11-01 $139,700 (21.6%) $183,577 (16.0%) 0.00 116
    2022-12-01 $129,900 (30.8%) $165,340 (12.4%) 0.00 106
    2023-01-01 $119,975 (16.6%) $158,329 (3.8%) 0.00 102
    2023-02-01 $119,900 (17.8%) $163,589 (3.1%) 0.00 99
    2023-03-01 $141,625 (48.1%) $175,535 (4.0%) 0.00 85
    2023-04-01 $148,700 (41.6%) $187,930 (10.3%) 0.00 65
    2023-05-01 $139,300 (18.7%) $196,762 (21.8%) 0.00 72
    2023-06-01 $137,900 (17.5%) $186,068 (16.0%) 0.00 77
    2023-07-01 $133,400 (11.3%) $174,525 (6.1%) 0.00 85
    2023-08-01 $133,900 (2.1%) $172,919 (2.6%) 0.00 91
    2023-09-01 $139,900 (5.7%) $185,364 (8.9%) 0.00 87
    2023-10-01 $148,100 (9.8%) $186,755 (3.8%) 0.00 86
    2023-11-01 $149,450 (7.0%) $185,916 (1.3%) 0.00 74
    2023-12-01 $145,000 (11.6%) $181,150 (9.6%) 0.00 75
    2024-01-01 $142,450 (18.7%) $178,802 (12.9%) 0.00 77
    2024-02-01 $143,675 (19.8%) $177,472 (8.5%) 0.00 69
    2024-03-01 $139,900 (-1.2%) $173,745 (-1.0%) 0.00 61
    Sterling's median listing price for 2024-03-01 was $139,900, a difference of $-1,725 (-1.2%) versus the prior year and $-3,775 versus the prior month.

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

    Sterling's average listing price for 2024-03-01 was $173,745, a difference of $-1,790 (-1.0%) versus the prior year and $-3,727 versus the prior month.

    For the 2024-03-01 period, Sterling had 61 MLS listings, a difference of -8 listings (-12%) versus the prior month and -24 listings (-28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Sterling (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,424 sqft
    2018-02-01 0 days 1,443 sqft
    2018-03-01 0 days 1,448 sqft
    2018-04-01 0 days 1,486 sqft
    2018-05-01 0 days 1,442 sqft
    2018-06-01 0 days 1,443 sqft
    2018-07-01 0 days 1,459 sqft
    2018-08-01 0 days 1,439 sqft
    2018-09-01 0 days 1,490 sqft
    2018-10-01 0 days 1,501 sqft
    2018-11-01 0 days 1,486 sqft
    2018-12-01 0 days 1,487 sqft
    2019-01-01 0 days 1,454 sqft
    2019-02-01 0 days 1,400 sqft
    2019-03-01 0 days 1,398 sqft
    2019-04-01 0 days 1,393 sqft
    2019-05-01 0 days 1,401 sqft
    2019-06-01 0 days 1,419 sqft
    2019-07-01 0 days 1,515 sqft
    2019-08-01 0 days 1,485 sqft
    2019-09-01 0 days 1,465 sqft
    2019-10-01 0 days 1,454 sqft
    2019-11-01 0 days 1,472 sqft
    2019-12-01 0 days 1,466 sqft
    2020-01-01 0 days 1,464 sqft
    2020-02-01 0 days 1,450 sqft
    2020-03-01 0 days 1,456 sqft
    2020-04-01 0 days 1,455 sqft
    2020-05-01 0 days 1,450 sqft
    2020-06-01 0 days 1,519 sqft
    2020-07-01 0 days 1,454 sqft
    2020-08-01 0 days 1,466 sqft
    2020-09-01 0 days 1,479 sqft
    2020-10-01 0 days 1,464 sqft
    2020-11-01 0 days 1,436 sqft
    2020-12-01 0 days 1,400 sqft
    2021-01-01 0 days 1,400 sqft
    2021-02-01 0 days 1,405 sqft
    2021-03-01 0 days 1,382 sqft
    2021-04-01 0 days 1,367 sqft
    2021-05-01 0 days 1,353 sqft
    2021-06-01 0 days 1,386 sqft
    2021-07-01 0 days 1,440 sqft
    2021-08-01 0 days 1,500 sqft
    2021-09-01 0 days 1,473 sqft
    2021-10-01 0 days 1,469 sqft
    2021-11-01 0 days 1,489 sqft
    2021-12-01 0 days 1,478 sqft
    2022-01-01 0 days 1,477 sqft
    2022-02-01 0 days 1,461 sqft
    2022-03-01 0 days 1,402 sqft
    2022-04-01 0 days 1,475 sqft
    2022-05-01 0 days 1,397 sqft
    2022-06-01 0 days 1,418 sqft
    2022-07-01 0 days 1,496 sqft
    2022-08-01 0 days 1,493 sqft
    2022-09-01 0 days 1,528 sqft
    2022-10-01 0 days 1,501 sqft
    2022-11-01 0 days 1,530 sqft
    2022-12-01 0 days 1,522 sqft
    2023-01-01 0 days 1,469 sqft
    2023-02-01 0 days 1,459 sqft
    2023-03-01 0 days 1,491 sqft
    2023-04-01 0 days 1,500 sqft
    2023-05-01 0 days 1,564 sqft
    2023-06-01 0 days 1,465 sqft
    2023-07-01 0 days 1,501 sqft
    2023-08-01 0 days 1,564 sqft
    2023-09-01 0 days 1,596 sqft
    2023-10-01 0 days 1,588 sqft
    2023-11-01 0 days 1,566 sqft
    2023-12-01 0 days 1,560 sqft
    2024-01-01 0 days 1,546 sqft
    2024-02-01 0 days 1,544 sqft
    2024-03-01 0 days 1,526 sqft
    Sterling's median listing age (time on market) for 2024-03-01 was 0 days.

    Sterling's median square footage for active listings during the 2024-03-01 period was 1,526 sqft. One year prior, the average listing was 1,491 sqft.