Waterloo USDA Loan Rates, Closing Costs & Stats

WATERLOO-CEDAR FALLS, IA

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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.

    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 6.31% for the week of 2024-11-08, compared to the national average (all USDA variants) of 6.477% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.18% and one month ago for the week of 2024-10-04, the average rate was 5.7%.

    The average rate one year ago was 7.34%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.68%.

    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.