Waterloo USDA Loan Rates, Closing Costs & Stats

WATERLOO-CEDAR FALLS, IA

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.

Waterloo's 5 lenders originated 10 USDA loans during 2023. The total origination value was $1,640,000, with an average USDA loan value of $164,000.

Waterloo USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Waterloo averaged -0.07% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

Waterloo's average USDA mortgage closing costs are $4,031.

The average rate for the prior week (2024-11-22) was 6.33% and one month ago for the week of 2024-10-25, the average rate was 6.13%.

The average rate one year ago was 6.83%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.1%.

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

Waterloo 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 Waterloo level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
GREENSTATE CREDIT UNION 5 6.30% $3,637
BankIowa of Cedar Rapids 1 6.88% $1,984
GUARANTEED RATE, INC. 1 6.13% $5,088
IOWA BANKERS MORTGAGE CORPORATION 1 7.13% $4,393
OPEN MORTGAGE, LLC 1 5.88% $7,884

The top Waterloo USDA lender as defined by loan originations is GREENSTATE CREDIT UNION, with 5 USDA loans originated. Their average total fees are $3,637, which is $1,653 higher than the next largest lender, BankIowa of Cedar Rapids.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Waterloo (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 $134,450 (-0.4%) $174,971 (3.1%) 0.50 638
2018-02-01 $136,675 (-2.0%) $172,046 (0.1%) 0.50 609
2018-03-01 $139,900 (-3.3%) $174,382 (-2.5%) 0.49 578
2018-04-01 $144,350 (-2.9%) $179,836 (-0.4%) 0.49 563
2018-05-01 $140,950 (-2.8%) $180,471 (0.9%) 0.47 573
2018-06-01 $145,000 (-0.5%) $183,976 (2.5%) 0.48 622
2018-07-01 $146,750 (1.2%) $183,529 (2.2%) 0.49 652
2018-08-01 $144,900 (-0.2%) $183,942 (1.1%) 0.49 682
2018-09-01 $143,000 (0.2%) $185,299 (3.5%) 0.48 660
2018-10-01 $144,750 (3.5%) $184,141 (2.4%) 0.49 656
2018-11-01 $144,900 (3.9%) $182,257 (2.3%) 0.49 642
2018-12-01 $139,900 (4.5%) $183,931 (6.3%) 0.48 595
2019-01-01 $143,700 (6.9%) $187,857 (7.4%) 0.50 529
2019-02-01 $148,200 (8.4%) $193,424 (12.4%) 0.50 496
2019-03-01 $154,186 (10.2%) $204,567 (17.3%) 0.50 484
2019-04-01 $159,186 (10.3%) $209,612 (16.6%) 0.51 499
2019-05-01 $161,900 (14.9%) $212,423 (17.7%) 0.51 528
2019-06-01 $169,900 (17.2%) $216,133 (17.5%) 0.53 577
2019-07-01 $170,700 (16.3%) $214,103 (16.7%) 0.53 560
2019-08-01 $167,118 (15.3%) $209,836 (14.1%) 0.53 579
2019-09-01 $165,870 (16.0%) $210,417 (13.6%) 0.53 604
2019-10-01 $165,039 (14.0%) $210,292 (14.2%) 0.53 624
2019-11-01 $162,500 (12.2%) $203,873 (11.9%) 0.53 608
2019-12-01 $164,400 (17.5%) $201,060 (9.3%) 0.55 572
2020-01-01 $164,575 (14.5%) $202,332 (7.7%) 0.55 525
2020-02-01 $165,000 (11.3%) $207,932 (7.5%) 0.54 476
2020-03-01 $159,000 (3.1%) $204,694 (0.1%) 0.50 487
2020-04-01 $159,600 (0.3%) $206,654 (-1.4%) 0.50 490
2020-05-01 $170,000 (5.0%) $216,575 (2.0%) 0.52 456
2020-06-01 $175,488 (3.3%) $225,125 (4.2%) 0.52 460
2020-07-01 $179,500 (5.2%) $231,431 (8.1%) 0.52 445
2020-08-01 $177,500 (6.2%) $230,356 (9.8%) 0.51 437
2020-09-01 $171,500 (3.4%) $223,629 (6.3%) 0.49 416
2020-10-01 $164,900 (-0.1%) $217,744 (3.5%) 0.47 441
2020-11-01 $158,600 (-2.4%) $219,702 (7.8%) 0.46 432
2020-12-01 $151,800 (-7.7%) $225,401 (12.1%) 0.45 360
2021-01-01 $159,900 (-2.8%) $233,656 (15.5%) 0.48 303
2021-02-01 $161,250 (-2.3%) $226,888 (9.1%) 0.47 253
2021-03-01 $158,725 (-0.2%) $224,142 (9.5%) 0.45 219
2021-04-01 $169,900 (6.5%) $236,546 (14.5%) 0.46 196
2021-05-01 $168,950 (-0.6%) $225,015 (3.9%) 0.45 188
2021-06-01 $161,500 (-8.0%) $217,287 (-3.5%) 0.43 218
2021-07-01 $164,900 (-8.1%) $216,372 (-6.5%) 0.44 260
2021-08-01 $159,862 (-9.9%) $214,679 (-6.8%) 0.43 295
2021-09-01 $151,100 (-11.9%) $213,810 (-4.4%) 0.40 290
2021-10-01 $149,900 (-9.1%) $212,255 (-2.5%) 0.40 278
2021-11-01 $149,450 (-5.8%) $202,300 (-7.9%) 0.40 255
2021-12-01 $148,450 (-2.2%) $196,329 (-12.9%) 0.40 219
2022-01-01 $159,250 (-0.4%) $207,197 (-11.3%) 0.43 186
2022-02-01 $182,425 (13.1%) $256,410 (13.0%) 0.47 142
2022-03-01 $237,450 (49.6%) $262,136 (17.0%) 0.59 127
2022-04-01 $229,950 (35.3%) $272,845 (15.4%) 0.55 128
2022-05-01 $227,500 (34.7%) $277,517 (23.3%) 0.52 148
2022-06-01 $223,500 (38.4%) $270,979 (24.7%) 0.50 177
2022-07-01 $199,000 (20.7%) $247,402 (14.3%) 0.45 222
2022-08-01 $217,188 (35.9%) $260,678 (21.4%) 0.50 227
2022-09-01 $234,130 (55.0%) $274,516 (28.4%) 0.55 226
2022-10-01 $239,500 (59.8%) $285,647 (34.6%) 0.56 228
2022-11-01 $229,575 (53.6%) $276,979 (36.9%) 0.55 224
2022-12-01 $219,950 (48.2%) $265,692 (35.3%) 0.54 201
2023-01-01 $218,450 (37.2%) $262,936 (26.9%) 0.54 183
2023-02-01 $257,225 (41.0%) $279,394 (9.0%) 0.62 163
2023-03-01 $262,950 (10.7%) $275,798 (5.2%) 0.62 162
2023-04-01 $258,500 (12.4%) $268,712 (-1.5%) 0.60 155
2023-05-01 $268,675 (18.1%) $282,049 (1.6%) 0.61 166
2023-06-01 $254,925 (14.1%) $280,959 (3.7%) 0.57 183
2023-07-01 $259,750 (30.5%) $290,972 (17.6%) 0.59 191
2023-08-01 $216,225 (-0.4%) $275,106 (5.5%) 0.50 231
2023-09-01 $224,900 (-3.9%) $274,471 (0.0%) 0.52 233
2023-10-01 $249,950 (4.4%) $278,611 (-2.5%) 0.59 246
2023-11-01 $264,450 (15.2%) $286,544 (3.5%) 0.63 264
2023-12-01 $259,900 (18.2%) $284,475 (7.1%) 0.63 255
2024-01-01 $267,450 (22.4%) $299,271 (13.8%) 0.65 227
2024-02-01 $273,900 (6.5%) $310,535 (11.2%) 0.66 211
2024-03-01 $280,450 (6.7%) $320,963 (16.4%) 0.66 220
2024-04-01 $281,250 (8.8%) $320,422 (19.2%) 0.65 219
2024-05-01 $299,588 (11.5%) $342,406 (21.4%) 0.68 217
2024-06-01 $283,000 (11.0%) $322,899 (14.9%) 0.64 265
2024-07-01 $278,500 (7.2%) $309,025 (6.2%) 0.64 300
2024-08-01 $269,900 (24.8%) $305,058 (10.9%) 0.63 346
2024-09-01 $264,475 (17.6%) $304,442 (10.9%) 0.62 370
2024-10-01 $256,450 (2.6%) $301,038 (8.1%) 0.60 387
Waterloo's median listing price for 2024-10-01 was $256,450, a difference of $6,500 (2.6%) versus the prior year and $-8,025 versus the prior month.

Waterloo's median listing price comes in at 60% of the national average.

Waterloo's average listing price for 2024-10-01 was $301,038, a difference of $22,427 (8.1%) versus the prior year and $-3,404 versus the prior month.

For the 2024-10-01 period, Waterloo had 387 MLS listings, a difference of 17 listings (5%) versus the prior month and 141 listings (57%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Waterloo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 80 days 1,570 sqft
2018-02-01 79 days 1,560 sqft
2018-03-01 62 days 1,565 sqft
2018-04-01 51 days 1,584 sqft
2018-05-01 46 days 1,593 sqft
2018-06-01 49 days 1,624 sqft
2018-07-01 53 days 1,600 sqft
2018-08-01 52 days 1,612 sqft
2018-09-01 59 days 1,607 sqft
2018-10-01 65 days 1,616 sqft
2018-11-01 68 days 1,617 sqft
2018-12-01 78 days 1,612 sqft
2019-01-01 83 days 1,624 sqft
2019-02-01 87 days 1,638 sqft
2019-03-01 70 days 1,659 sqft
2019-04-01 50 days 1,623 sqft
2019-05-01 45 days 1,547 sqft
2019-06-01 51 days 1,484 sqft
2019-07-01 58 days 1,477 sqft
2019-08-01 58 days 1,462 sqft
2019-09-01 58 days 1,450 sqft
2019-10-01 59 days 1,442 sqft
2019-11-01 65 days 1,430 sqft
2019-12-01 73 days 1,392 sqft
2020-01-01 83 days 1,429 sqft
2020-02-01 86 days 1,451 sqft
2020-03-01 56 days 1,441 sqft
2020-04-01 54 days 1,436 sqft
2020-05-01 67 days 1,497 sqft
2020-06-01 67 days 1,516 sqft
2020-07-01 54 days 1,477 sqft
2020-08-01 58 days 1,457 sqft
2020-09-01 63 days 1,441 sqft
2020-10-01 52 days 1,431 sqft
2020-11-01 52 days 1,400 sqft
2020-12-01 56 days 1,403 sqft
2021-01-01 69 days 1,395 sqft
2021-02-01 86 days 1,435 sqft
2021-03-01 56 days 1,430 sqft
2021-04-01 52 days 1,477 sqft
2021-05-01 39 days 1,503 sqft
2021-06-01 32 days 1,456 sqft
2021-07-01 32 days 1,432 sqft
2021-08-01 38 days 1,389 sqft
2021-09-01 46 days 1,428 sqft
2021-10-01 54 days 1,359 sqft
2021-11-01 48 days 1,335 sqft
2021-12-01 51 days 1,310 sqft
2022-01-01 62 days 1,334 sqft
2022-02-01 62 days 1,373 sqft
2022-03-01 45 days 1,449 sqft
2022-04-01 31 days 1,501 sqft
2022-05-01 22 days 1,456 sqft
2022-06-01 24 days 1,629 sqft
2022-07-01 24 days 1,618 sqft
2022-08-01 37 days 1,681 sqft
2022-09-01 41 days 1,743 sqft
2022-10-01 43 days 1,782 sqft
2022-11-01 51 days 1,701 sqft
2022-12-01 60 days 1,664 sqft
2023-01-01 74 days 1,587 sqft
2023-02-01 57 days 1,597 sqft
2023-03-01 48 days 1,569 sqft
2023-04-01 46 days 1,562 sqft
2023-05-01 31 days 1,556 sqft
2023-06-01 35 days 1,628 sqft
2023-07-01 45 days 1,660 sqft
2023-08-01 34 days 1,608 sqft
2023-09-01 45 days 1,569 sqft
2023-10-01 41 days 1,601 sqft
2023-11-01 39 days 1,599 sqft
2023-12-01 54 days 1,561 sqft
2024-01-01 74 days 1,584 sqft
2024-02-01 68 days 1,618 sqft
2024-03-01 46 days 1,583 sqft
2024-04-01 45 days 1,643 sqft
2024-05-01 52 days 1,772 sqft
2024-06-01 45 days 1,763 sqft
2024-07-01 44 days 1,752 sqft
2024-08-01 45 days 1,723 sqft
2024-09-01 52 days 1,686 sqft
2024-10-01 58 days 1,658 sqft
Waterloo's median listing age (time on market) for 2024-10-01 was 58 days. This is 41% longer than the same period one year ago.

Waterloo's median square footage for active listings during the 2024-10-01 period was 1,658 sqft. One year prior, the average listing was 1,601 sqft.