Topeka USDA Loan Rates, Closing Costs & Stats

TOPEKA, KS

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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.

    Topeka's 13 lenders originated 26 USDA loans during 2023. The total origination value was $4,160,000, with an average USDA loan value of $160,000.

    Topeka USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Topeka averaged 6.98% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Topeka's average USDA mortgage closing costs are $3,719.

    The average rate for the prior week (2024-04-12) was 6.73% and one month ago for the week of 2024-03-15, the average rate was 6.82%.

    The average rate one year ago was 6.16%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.91%.

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

    Topeka 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 Topeka level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Landmark National Bank 7 6.45% $4,060
    FLAT BRANCH MORTGAGE, INC. 3 7.17% $4,381
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.92% $5,340
    NEWREZ LLC 2 6.50% $7,929
    UNITED WHOLESALE MORTGAGE, LLC 2 7.25% $4,096
    Neighborhood Loans, Inc. 1 6.38% $9,523
    NFM, INC. 1 5.63% $8,653
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.00% $4,855
    Hawthorn Bank 1 7.49% $5,244
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.63% $4,694
    CALIBER HOME LOANS, INC. 1 6.75% $6,954
    ENDEAVOR CAPITAL, LLC. 1 6.13% $4,291
    AMCAP MORTGAGE, LTD. 1 7.63% $7,479

    The top Topeka USDA lender as defined by loan originations is Landmark National Bank, with 7 USDA loans originated. Their average total fees are $4,060, which is $321 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Topeka (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 $106,225 (-1.2%) $152,272 (1.7%) 0.39 568
    2018-02-01 $110,475 (0.5%) $157,554 (2.2%) 0.40 570
    2018-03-01 $114,900 (-2.1%) $159,512 (-2.1%) 0.40 555
    2018-04-01 $116,450 (-5.1%) $170,246 (-2.0%) 0.39 546
    2018-05-01 $119,925 (1.2%) $176,938 (3.7%) 0.40 565
    2018-06-01 $125,000 (-2.5%) $184,672 (7.2%) 0.42 619
    2018-07-01 $130,500 (8.8%) $183,644 (9.0%) 0.44 654
    2018-08-01 $127,450 (8.5%) $181,595 (9.6%) 0.43 644
    2018-09-01 $120,950 (10.1%) $171,684 (7.1%) 0.41 662
    2018-10-01 $119,999 (4.5%) $168,513 (4.5%) 0.41 644
    2018-11-01 $117,500 (8.7%) $162,560 (4.3%) 0.40 623
    2018-12-01 $119,900 (11.0%) $165,189 (7.7%) 0.41 568
    2019-01-01 $118,450 (11.5%) $167,193 (9.8%) 0.41 553
    2019-02-01 $119,947 (8.6%) $176,277 (11.9%) 0.41 511
    2019-03-01 $126,297 (9.9%) $183,301 (14.9%) 0.41 502
    2019-04-01 $139,800 (20.1%) $189,259 (11.2%) 0.44 492
    2019-05-01 $152,450 (27.1%) $191,640 (8.3%) 0.48 491
    2019-06-01 $149,000 (19.2%) $182,288 (-1.3%) 0.47 522
    2019-07-01 $149,900 (14.9%) $183,775 (0.1%) 0.47 512
    2019-08-01 $149,245 (17.1%) $188,018 (3.5%) 0.47 507
    2019-09-01 $148,264 (22.6%) $189,204 (10.2%) 0.47 500
    2019-10-01 $146,225 (21.9%) $188,536 (11.9%) 0.47 505
    2019-11-01 $134,900 (14.8%) $181,857 (11.9%) 0.44 526
    2019-12-01 $125,000 (4.3%) $169,395 (2.6%) 0.42 485
    2020-01-01 $128,475 (8.5%) $166,431 (-0.5%) 0.43 418
    2020-02-01 $137,000 (14.2%) $174,542 (-1.0%) 0.45 381
    2020-03-01 $147,800 (17.0%) $185,416 (1.2%) 0.46 379
    2020-04-01 $152,475 (9.1%) $193,064 (2.0%) 0.48 367
    2020-05-01 $165,000 (8.2%) $206,687 (7.9%) 0.50 305
    2020-06-01 $152,450 (2.3%) $200,250 (9.9%) 0.45 292
    2020-07-01 $131,975 (-12.0%) $194,724 (6.0%) 0.38 282
    2020-08-01 $140,000 (-6.2%) $198,626 (5.6%) 0.40 273
    2020-09-01 $138,725 (-6.4%) $196,702 (4.0%) 0.40 273
    2020-10-01 $134,950 (-7.7%) $199,862 (6.0%) 0.39 253
    2020-11-01 $142,450 (5.6%) $196,981 (8.3%) 0.42 257
    2020-12-01 $142,450 (14.0%) $191,045 (12.8%) 0.42 233
    2021-01-01 $146,200 (13.8%) $199,663 (20.0%) 0.44 191
    2021-02-01 $147,500 (7.7%) $205,495 (17.7%) 0.43 152
    2021-03-01 $154,850 (4.8%) $204,214 (10.1%) 0.44 159
    2021-04-01 $157,725 (3.4%) $226,037 (17.1%) 0.43 158
    2021-05-01 $160,000 (-3.0%) $224,490 (8.6%) 0.43 177
    2021-06-01 $152,500 (0.0%) $219,628 (9.7%) 0.40 216
    2021-07-01 $172,273 (30.5%) $231,245 (18.8%) 0.45 255
    2021-08-01 $164,500 (17.5%) $221,169 (11.4%) 0.44 247
    2021-09-01 $171,250 (23.5%) $227,269 (15.5%) 0.46 253
    2021-10-01 $168,750 (25.1%) $215,427 (7.8%) 0.45 253
    2021-11-01 $165,532 (16.2%) $206,148 (4.7%) 0.44 226
    2021-12-01 $160,894 (13.0%) $218,073 (14.2%) 0.44 185
    2022-01-01 $154,950 (6.0%) $230,781 (15.6%) 0.42 124
    2022-02-01 $179,250 (21.5%) $249,527 (21.4%) 0.47 117
    2022-03-01 $179,950 (16.2%) $251,413 (23.1%) 0.45 128
    2022-04-01 $182,450 (15.7%) $255,260 (12.9%) 0.43 151
    2022-05-01 $213,200 (33.3%) $273,493 (21.8%) 0.49 174
    2022-06-01 $219,975 (44.3%) $273,298 (24.4%) 0.49 202
    2022-07-01 $210,000 (21.9%) $268,019 (15.9%) 0.47 220
    2022-08-01 $229,750 (39.7%) $341,969 (54.6%) 0.53 210
    2022-09-01 $229,900 (34.3%) $317,040 (39.5%) 0.54 225
    2022-10-01 $229,000 (35.7%) $306,636 (42.3%) 0.54 273
    2022-11-01 $232,450 (40.4%) $369,855 (79.4%) 0.56 326
    2022-12-01 $227,450 (41.4%) $382,683 (75.5%) 0.56 283
    2023-01-01 $241,738 (56.0%) $404,744 (75.4%) 0.60 232
    2023-02-01 $244,500 (36.4%) $373,530 (49.7%) 0.59 215
    2023-03-01 $250,125 (39.0%) $372,045 (48.0%) 0.59 183
    2023-04-01 $238,700 (30.8%) $347,250 (36.0%) 0.56 203
    2023-05-01 $267,463 (25.5%) $359,135 (31.3%) 0.61 204
    2023-06-01 $292,000 (32.7%) $369,275 (35.1%) 0.66 225
    2023-07-01 $279,900 (33.3%) $363,350 (35.6%) 0.64 258
    2023-08-01 $268,000 (16.7%) $334,163 (-2.3%) 0.62 269
    2023-09-01 $249,950 (8.7%) $327,696 (3.4%) 0.58 309
    2023-10-01 $233,075 (1.8%) $306,185 (-0.2%) 0.55 362
    2023-11-01 $229,800 (-1.1%) $290,203 (-21.5%) 0.55 354
    2023-12-01 $226,950 (-0.2%) $295,014 (-22.9%) 0.55 304
    2024-01-01 $234,925 (-2.8%) $298,522 (-26.2%) 0.57 235
    2024-02-01 $236,175 (-3.4%) $298,598 (-20.1%) 0.57 236
    2024-03-01 $249,900 (-0.1%) $320,183 (-13.9%) 0.59 213
    Topeka's median listing price for 2024-03-01 was $249,900, a difference of $-225 (-0.1%) versus the prior year and $13,725 versus the prior month.

    Topeka's median listing price comes in at 59% of the national average.

    Topeka's average listing price for 2024-03-01 was $320,183, a difference of $-51,862 (-13.9%) versus the prior year and $21,585 versus the prior month.

    For the 2024-03-01 period, Topeka had 213 MLS listings, a difference of -23 listings (-10%) versus the prior month and 30 listings (16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Topeka (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 70 days 1,591 sqft
    2018-02-01 58 days 1,616 sqft
    2018-03-01 44 days 1,632 sqft
    2018-04-01 40 days 1,667 sqft
    2018-05-01 37 days 1,671 sqft
    2018-06-01 35 days 1,700 sqft
    2018-07-01 37 days 1,735 sqft
    2018-08-01 42 days 1,671 sqft
    2018-09-01 44 days 1,600 sqft
    2018-10-01 45 days 1,600 sqft
    2018-11-01 55 days 1,585 sqft
    2018-12-01 61 days 1,585 sqft
    2019-01-01 64 days 1,585 sqft
    2019-02-01 63 days 1,608 sqft
    2019-03-01 52 days 1,655 sqft
    2019-04-01 35 days 1,694 sqft
    2019-05-01 37 days 1,765 sqft
    2019-06-01 36 days 1,786 sqft
    2019-07-01 38 days 1,772 sqft
    2019-08-01 42 days 1,768 sqft
    2019-09-01 40 days 1,769 sqft
    2019-10-01 40 days 1,756 sqft
    2019-11-01 45 days 1,700 sqft
    2019-12-01 53 days 1,665 sqft
    2020-01-01 59 days 1,643 sqft
    2020-02-01 52 days 1,660 sqft
    2020-03-01 36 days 1,679 sqft
    2020-04-01 39 days 1,788 sqft
    2020-05-01 32 days 1,799 sqft
    2020-06-01 24 days 1,729 sqft
    2020-07-01 24 days 1,627 sqft
    2020-08-01 29 days 1,629 sqft
    2020-09-01 25 days 1,591 sqft
    2020-10-01 28 days 1,637 sqft
    2020-11-01 28 days 1,634 sqft
    2020-12-01 30 days 1,576 sqft
    2021-01-01 37 days 1,632 sqft
    2021-02-01 29 days 1,639 sqft
    2021-03-01 16 days 1,600 sqft
    2021-04-01 13 days 1,560 sqft
    2021-05-01 12 days 1,643 sqft
    2021-06-01 14 days 1,658 sqft
    2021-07-01 18 days 1,719 sqft
    2021-08-01 22 days 1,674 sqft
    2021-09-01 22 days 1,686 sqft
    2021-10-01 27 days 1,676 sqft
    2021-11-01 32 days 1,676 sqft
    2021-12-01 38 days 1,645 sqft
    2022-01-01 31 days 1,625 sqft
    2022-02-01 22 days 1,681 sqft
    2022-03-01 12 days 1,733 sqft
    2022-04-01 24 days 1,693 sqft
    2022-05-01 26 days 1,753 sqft
    2022-06-01 20 days 1,775 sqft
    2022-07-01 27 days 1,768 sqft
    2022-08-01 31 days 1,836 sqft
    2022-09-01 28 days 1,846 sqft
    2022-10-01 32 days 1,820 sqft
    2022-11-01 36 days 1,751 sqft
    2022-12-01 43 days 1,716 sqft
    2023-01-01 59 days 1,723 sqft
    2023-02-01 61 days 1,698 sqft
    2023-03-01 47 days 1,774 sqft
    2023-04-01 33 days 1,680 sqft
    2023-05-01 29 days 2,008 sqft
    2023-06-01 25 days 2,137 sqft
    2023-07-01 28 days 2,107 sqft
    2023-08-01 31 days 1,897 sqft
    2023-09-01 30 days 1,902 sqft
    2023-10-01 36 days 1,782 sqft
    2023-11-01 39 days 1,752 sqft
    2023-12-01 47 days 1,772 sqft
    2024-01-01 57 days 1,768 sqft
    2024-02-01 50 days 1,810 sqft
    2024-03-01 38 days 1,835 sqft
    Topeka's median listing age (time on market) for 2024-03-01 was 38 days. This is -18% shorter than the same period one year ago.

    Topeka's median square footage for active listings during the 2024-03-01 period was 1,835 sqft. One year prior, the average listing was 1,774 sqft.