Toledo USDA Loans

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 25 lenders originated 83 USDA loans during 2021. The total origination value was $11,725,000, with an average USDA loan value of $141,265.

Toledo USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Toledo averaged 5.38% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.21% and one month ago for the week of 2022-04-08, the average rate was 5.07%.

The average rate one year ago was 3.18%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.32%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Toledo level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
UNION HOME MORTGAGE CORP. 15 2.96% $5,272
CROSSCOUNTRY MORTGAGE, LLC 10 3.25% $6,348
AMERIFIRST FINANCIAL CORPORATION 5 2.63% $4,630
MID AMERICA MORTGAGE, INC. 5 2.65% $3,743
EQUITY RESOURCES, INC. 5 2.43% $4,574
Bank of England 4 3.25% $4,879
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 2.75% $5,867
Hometown Equity Mortgage, LLC 3 2.96% $5,142
CALIBER HOME LOANS, INC. 3 2.96% $4,765
First Federal Bank of the Midwest 3 3.00% $5,296
GVC MORTGAGE, INC. 3 3.33% $7,408
HOWARD HANNA FINANCIAL SERVICES, INC. 3 2.54% $5,246
LOANDEPOT.COM, LLC 3 3.50% $4,270
Flagstar Bank, FSB 2 3.00% $6,003
LENDUS, LLC 2 3.25% $7,417
POLARIS HOME FUNDING CORP. 2 3.06% $6,216
First Guaranty Mortgage Corporation 1 2.88% $3,241
MORTGAGE 1 INCORPORATED 1 3.50% $7,430
NATIONS RELIABLE LENDING, LLC 1 3.25% $6,723
Northpointe Bank 1 2.75% $7,022
PENNYMAC LOAN SERVICES, LLC 1 3.00% $4,119
PLAZA HOME MORTGAGE, INC. 1 3.88% $4,591
AMERICAN MORTGAGE SERVICE COMPANY 1 2.25% $4,897
Ixonia Bank 1 3.50% $4,153
CELEBRITY HOME LOANS, LLC 1 2.88% $5,171

The top Toledo USDA lender as defined by loan originations is UNION HOME MORTGAGE CORP., with 15 USDA loans originated. Their average total fees are $5,272, which is $1,076 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

The lowest fee Toledo USDA lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. ($5,272), CROSSCOUNTRY MORTGAGE, LLC ($6,348), .

The lowest rate Toledo USDA lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. (2.96%), CROSSCOUNTRY MORTGAGE, LLC (3.25%), .