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%.
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. LouisDate | 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 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. LouisDate | 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 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.