Toledo USDA Loan Rates, Closing Costs & Stats

TOLEDO, OH

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.

Toledo's 13 lenders originated 20 USDA loans during 2023. The total origination value was $3,220,000, with an average USDA loan value of $161,000.

Toledo USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Toledo averaged 6.9% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Toledo's average USDA mortgage closing costs are $5,082.

The average rate for the prior week (2024-04-05) was 6.82% and one month ago for the week of 2024-03-08, the average rate was 6.68%.

The average rate one year ago was 6.39%.

For refis of the same type during the week of 2024-04-12, the average rate was 7.31%.

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

Toledo 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 Toledo level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
LOANDEPOT.COM, LLC 4 7.13% $5,394
MID AMERICA MORTGAGE, INC. 2 6.63% $4,693
CROSSCOUNTRY MORTGAGE, LLC 2 6.44% $6,517
UNION HOME MORTGAGE CORP. 2 6.75% $7,006
MORTGAGE 1 INCORPORATED 1 7.13% $10,755
POLARIS HOME FUNDING CORP. 1 6.25% $10,525
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $7,173
The State Bank and Trust Company 1 6.50% $6,156
Bank of England 1 6.13% $9,620
Western Ohio Mortgage Corporation 1 7.00% $5,099
EQUITY RESOURCES, INC. 1 6.99% $5,360
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $4,307
LIBERTY HOME MORTGAGE CORPORATION 1 6.13% $7,103

The top Toledo USDA lender as defined by loan originations is LOANDEPOT.COM, LLC, with 4 USDA loans originated. Their average total fees are $5,394, which is $702 higher than the next largest lender, MID AMERICA MORTGAGE, INC..

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Toledo (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 $129,950 (-1.7%) $199,476 (4.5%) 0.48 1,993
2018-02-01 $134,900 (0.0%) $203,753 (3.7%) 0.49 1,850
2018-03-01 $144,900 (3.6%) $213,548 (5.8%) 0.51 1,776
2018-04-01 $157,450 (11.4%) $228,081 (11.2%) 0.53 1,779
2018-05-01 $165,000 (10.9%) $233,610 (9.7%) 0.55 1,786
2018-06-01 $165,000 (13.4%) $229,359 (6.0%) 0.55 1,935
2018-07-01 $166,388 (14.8%) $226,483 (5.2%) 0.56 2,057
2018-08-01 $155,037 (10.8%) $219,787 (5.5%) 0.52 2,172
2018-09-01 $149,900 (4.9%) $214,419 (3.1%) 0.50 2,182
2018-10-01 $149,900 (6.0%) $211,764 (2.2%) 0.51 2,220
2018-11-01 $149,200 (6.7%) $210,764 (2.5%) 0.51 2,106
2018-12-01 $145,000 (6.2%) $210,114 (-2.6%) 0.50 1,968
2019-01-01 $149,450 (15.0%) $212,975 (6.8%) 0.52 1,754
2019-02-01 $151,450 (12.3%) $218,235 (7.1%) 0.51 1,653
2019-03-01 $168,943 (16.6%) $230,994 (8.2%) 0.55 1,603
2019-04-01 $179,493 (14.0%) $240,921 (5.6%) 0.57 1,592
2019-05-01 $193,950 (17.6%) $245,229 (5.0%) 0.61 1,610
2019-06-01 $194,900 (18.1%) $246,539 (7.5%) 0.61 1,652
2019-07-01 $184,950 (11.2%) $242,582 (7.1%) 0.58 1,781
2019-08-01 $180,910 (16.7%) $239,493 (9.0%) 0.57 1,814
2019-09-01 $174,774 (16.6%) $235,702 (9.9%) 0.56 1,833
2019-10-01 $169,951 (13.4%) $232,202 (9.7%) 0.55 1,846
2019-11-01 $165,000 (10.6%) $226,584 (7.5%) 0.54 1,835
2019-12-01 $159,900 (10.3%) $225,502 (7.3%) 0.53 1,720
2020-01-01 $160,599 (7.5%) $227,963 (7.0%) 0.54 1,585
2020-02-01 $166,000 (9.6%) $231,041 (5.9%) 0.54 1,505
2020-03-01 $169,475 (0.3%) $236,922 (2.6%) 0.53 1,472
2020-04-01 $180,950 (0.8%) $241,258 (0.1%) 0.57 1,440
2020-05-01 $197,700 (1.9%) $254,112 (3.6%) 0.60 1,344
2020-06-01 $202,475 (3.9%) $266,529 (8.1%) 0.60 1,210
2020-07-01 $211,225 (14.2%) $270,004 (11.3%) 0.61 1,173
2020-08-01 $215,000 (18.8%) $268,774 (12.2%) 0.62 1,107
2020-09-01 $202,450 (15.8%) $259,184 (10.0%) 0.58 1,073
2020-10-01 $189,900 (11.7%) $254,888 (9.8%) 0.54 1,117
2020-11-01 $179,950 (9.1%) $249,744 (10.2%) 0.53 1,026
2020-12-01 $179,675 (12.4%) $247,111 (9.6%) 0.53 894
2021-01-01 $180,000 (12.1%) $246,732 (8.2%) 0.54 785
2021-02-01 $197,000 (18.7%) $260,241 (12.6%) 0.57 635
2021-03-01 $191,750 (13.1%) $257,647 (8.8%) 0.54 641
2021-04-01 $183,000 (1.1%) $254,981 (5.7%) 0.50 679
2021-05-01 $187,250 (-5.3%) $253,797 (-0.1%) 0.50 727
2021-06-01 $184,250 (-9.0%) $258,618 (-3.0%) 0.49 794
2021-07-01 $185,000 (-12.4%) $253,724 (-6.0%) 0.49 921
2021-08-01 $179,400 (-16.6%) $258,851 (-3.7%) 0.48 1,034
2021-09-01 $169,900 (-16.1%) $252,231 (-2.7%) 0.45 1,097
2021-10-01 $165,000 (-13.1%) $246,723 (-3.2%) 0.44 1,050
2021-11-01 $159,900 (-11.1%) $243,667 (-2.4%) 0.43 944
2021-12-01 $152,475 (-15.1%) $243,785 (-1.4%) 0.41 786
2022-01-01 $149,900 (-16.7%) $251,318 (1.9%) 0.41 665
2022-02-01 $152,500 (-22.6%) $251,286 (-3.4%) 0.40 541
2022-03-01 $166,500 (-13.2%) $272,557 (5.8%) 0.42 525
2022-04-01 $179,900 (-1.7%) $274,927 (7.8%) 0.43 610
2022-05-01 $184,450 (-1.5%) $269,706 (6.3%) 0.42 749
2022-06-01 $189,000 (2.6%) $270,668 (4.7%) 0.42 896
2022-07-01 $184,900 (-0.1%) $269,875 (6.4%) 0.42 993
2022-08-01 $181,200 (1.0%) $268,572 (3.8%) 0.42 1,030
2022-09-01 $179,950 (5.9%) $256,955 (1.9%) 0.42 1,020
2022-10-01 $169,900 (3.0%) $243,741 (-1.2%) 0.40 1,063
2022-11-01 $161,319 (0.9%) $238,106 (-2.3%) 0.39 1,024
2022-12-01 $167,000 (9.5%) $246,743 (1.2%) 0.41 888
2023-01-01 $174,600 (16.5%) $264,260 (5.2%) 0.43 758
2023-02-01 $190,825 (25.1%) $282,413 (12.4%) 0.46 686
2023-03-01 $208,800 (25.4%) $298,616 (9.6%) 0.49 689
2023-04-01 $215,000 (19.5%) $303,613 (10.4%) 0.50 718
2023-05-01 $229,950 (24.7%) $305,498 (13.3%) 0.52 795
2023-06-01 $239,900 (26.9%) $305,806 (13.0%) 0.54 849
2023-07-01 $239,900 (29.8%) $308,542 (14.3%) 0.55 811
2023-08-01 $237,200 (30.9%) $303,766 (13.1%) 0.54 868
2023-09-01 $219,900 (22.2%) $284,806 (10.8%) 0.51 927
2023-10-01 $205,725 (21.1%) $277,582 (13.9%) 0.48 991
2023-11-01 $199,900 (23.9%) $279,117 (17.2%) 0.48 942
2023-12-01 $199,800 (19.6%) $270,402 (9.6%) 0.49 882
2024-01-01 $189,950 (8.8%) $285,518 (8.0%) 0.46 831
2024-02-01 $212,750 (11.5%) $308,287 (9.2%) 0.51 735
2024-03-01 $230,000 (10.2%) $328,574 (10.0%) 0.54 742
Toledo's median listing price for 2024-03-01 was $230,000, a difference of $21,200 (10.2%) versus the prior year and $17,250 versus the prior month.

Toledo's median listing price comes in at 54% of the national average.

Toledo's average listing price for 2024-03-01 was $328,574, a difference of $29,958 (10.0%) versus the prior year and $20,287 versus the prior month.

For the 2024-03-01 period, Toledo had 742 MLS listings, a difference of 7 listings (1%) versus the prior month and 53 listings (8%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Toledo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 85 days 1,508 sqft
2018-02-01 82 days 1,509 sqft
2018-03-01 62 days 1,554 sqft
2018-04-01 52 days 1,589 sqft
2018-05-01 52 days 1,619 sqft
2018-06-01 48 days 1,640 sqft
2018-07-01 48 days 1,655 sqft
2018-08-01 49 days 1,622 sqft
2018-09-01 54 days 1,611 sqft
2018-10-01 60 days 1,618 sqft
2018-11-01 63 days 1,586 sqft
2018-12-01 72 days 1,568 sqft
2019-01-01 81 days 1,575 sqft
2019-02-01 79 days 1,570 sqft
2019-03-01 68 days 1,614 sqft
2019-04-01 52 days 1,664 sqft
2019-05-01 48 days 1,704 sqft
2019-06-01 50 days 1,715 sqft
2019-07-01 50 days 1,717 sqft
2019-08-01 53 days 1,711 sqft
2019-09-01 55 days 1,702 sqft
2019-10-01 57 days 1,695 sqft
2019-11-01 58 days 1,688 sqft
2019-12-01 66 days 1,648 sqft
2020-01-01 76 days 1,641 sqft
2020-02-01 72 days 1,629 sqft
2020-03-01 58 days 1,641 sqft
2020-04-01 62 days 1,670 sqft
2020-05-01 64 days 1,698 sqft
2020-06-01 46 days 1,724 sqft
2020-07-01 40 days 1,765 sqft
2020-08-01 45 days 1,738 sqft
2020-09-01 40 days 1,718 sqft
2020-10-01 40 days 1,694 sqft
2020-11-01 45 days 1,621 sqft
2020-12-01 56 days 1,631 sqft
2021-01-01 63 days 1,633 sqft
2021-02-01 47 days 1,651 sqft
2021-03-01 35 days 1,646 sqft
2021-04-01 28 days 1,620 sqft
2021-05-01 27 days 1,608 sqft
2021-06-01 28 days 1,604 sqft
2021-07-01 30 days 1,598 sqft
2021-08-01 30 days 1,594 sqft
2021-09-01 35 days 1,584 sqft
2021-10-01 42 days 1,568 sqft
2021-11-01 45 days 1,532 sqft
2021-12-01 53 days 1,529 sqft
2022-01-01 58 days 1,502 sqft
2022-02-01 42 days 1,488 sqft
2022-03-01 31 days 1,526 sqft
2022-04-01 24 days 1,531 sqft
2022-05-01 24 days 1,517 sqft
2022-06-01 25 days 1,542 sqft
2022-07-01 34 days 1,560 sqft
2022-08-01 35 days 1,562 sqft
2022-09-01 41 days 1,536 sqft
2022-10-01 40 days 1,512 sqft
2022-11-01 44 days 1,504 sqft
2022-12-01 54 days 1,500 sqft
2023-01-01 62 days 1,522 sqft
2023-02-01 47 days 1,539 sqft
2023-03-01 36 days 1,533 sqft
2023-04-01 37 days 1,544 sqft
2023-05-01 31 days 1,552 sqft
2023-06-01 35 days 1,576 sqft
2023-07-01 38 days 1,586 sqft
2023-08-01 37 days 1,615 sqft
2023-09-01 37 days 1,590 sqft
2023-10-01 39 days 1,552 sqft
2023-11-01 43 days 1,528 sqft
2023-12-01 53 days 1,530 sqft
2024-01-01 53 days 1,521 sqft
2024-02-01 42 days 1,545 sqft
2024-03-01 37 days 1,556 sqft
Toledo's median listing age (time on market) for 2024-03-01 was 37 days. This is 3% longer than the same period one year ago.

Toledo's median square footage for active listings during the 2024-03-01 period was 1,556 sqft. One year prior, the average listing was 1,533 sqft.