Ohio USDA Loan Rates, Closing Costs & Stats

Ohio

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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.

    Ohio USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Ohio averaged -0.46% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

    Ohio's average USDA mortgage closing costs are $4,832.

    The average rate for the prior week (2023-11-17) was 6.83% and one month ago for the week of 2023-10-20, the average rate was 7.25%.

    The average rate one year ago was 6.29%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.09%.

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

    Ohio 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 Ohio level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    CROSSCOUNTRY MORTGAGE, LLC 217 5.26% $5,912
    UNION HOME MORTGAGE CORP. 211 5.03% $5,855
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 120 5.19% $5,397
    CALIBER HOME LOANS, INC. 120 4.60% $5,068
    POLARIS HOME FUNDING CORP. 92 5.23% $6,957
    PRIMELENDING, A PLAINSCAPITAL COMPANY 84 5.18% $6,190
    LOANDEPOT.COM, LLC 73 5.31% $5,194
    MID AMERICA MORTGAGE, INC. 62 5.21% $5,343
    J. VIRGIL, INC. 48 5.37% $6,989
    PRIMARY RESIDENTIAL MORTGAGE, INC. 44 4.80% $6,484
    DAS Acquisition Company, LLC 43 5.17% $6,937
    RUOFF MORTGAGE COMPANY, INC. 37 5.11% $2,890
    T2 FINANCIAL LLC 37 5.35% $8,029
    The Huntington National Bank 35 4.92% $5,461
    MOVEMENT MORTGAGE, LLC 32 4.82% $6,854
    RAPID MORTGAGE COMPANY 31 5.31% $6,830
    Waterstone Mortgage Corporation 31 5.13% $6,426
    GUARANTEED RATE, INC. 27 5.41% $6,017
    EQUITY RESOURCES, INC. 27 4.72% $6,093
    AMERIFIRST FINANCIAL CORPORATION 27 5.54% $6,557
    Flagstar Bank, FSB 26 4.68% $6,354
    Paramount Residential Mortgage Group, Inc. 23 4.92% $6,598
    WesBanco 23 4.40% $5,211
    HOME POINT FINANCIAL CORPORATION 22 4.73% $5,832
    UNITED WHOLESALE MORTGAGE, LLC 22 5.22% $6,858
    U.S. Bank 22 5.33% $5,133
    Hometown Equity Mortgage, LLC 21 4.47% $7,710
    THRIVE MORTGAGE, LLC 20 5.15% $5,995
    Hometown Lenders, Inc. 18 5.11% $6,835
    Superior Credit Union, Inc. 18 4.44% $3,791
    Bank of England 18 4.91% $6,273
    Chickasaw Community Bank 17 6.18% $6,775
    LIBERTY HOME MORTGAGE CORPORATION 17 5.15% $4,834
    FIRST OHIO HOME FINANCE, INC. 16 5.16% $2,635
    HOMESIDE FINANCIAL, LLC 14 4.84% $5,975
    DEVELOPER'S MORTGAGE COMPANY 14 4.38% $3,037
    AMERICAN MORTGAGE SERVICE COMPANY 14 4.84% $5,450
    First Federal Bank of the Midwest 13 4.91% $5,124
    Fifth Third Bank 13 4.76% $4,608
    BAYSHORE MORTGAGE FUNDING, LLC 13 5.50% $7,380
    PENNYMAC LOAN SERVICES, LLC 12 3.28% $5,818
    GUILD MORTGAGE COMPANY 12 5.61% $6,421
    NVR Mortgage Finance, Inc. 11 3.68% $8,946
    NFM, INC. 11 4.65% $8,300
    AMERICAN PACIFIC MORTGAGE CORPORATION 10 4.88% $6,627
    MORTGAGE SOLUTIONS OF COLORADO, LLC 9 5.75% $7,025
    Union Savings Bank 9 5.31% $5,786
    PLAZA HOME MORTGAGE, INC. 9 4.91% $4,874
    WRIGHT-PATT CREDIT UNION, INC. 9 5.32% $4,833
    PRIORITY MORTGAGE CORP. 8 4.31% $5,765
    TOP FLITE FINANCIAL, INC. 8 4.66% $9,443
    Northwest Bank 7 4.30% $4,961
    AmRes Corporation 7 5.05% $5,408
    EUSTIS AND AMERICAN MORTGAGE COMPANY 7 4.82% $5,793
    Gateway First Bank 7 6.07% $3,410
    First Option Mortgage, LLC 7 4.91% $6,294
    Equity Prime Mortgage LLC 7 6.07% $6,368
    DESCO 7 4.43% $4,033
    NATIONS RELIABLE LENDING, LLC 7 5.63% $7,121
    Nations Lending Corporation 6 5.25% $4,694
    Republic State Mortgage Co. 6 6.15% $3,536
    The Park National Bank 6 4.27% $5,909
    NEWREZ LLC 6 6.79% $3,941
    Mortgage Research Center, LLC 5 5.90% $2,301
    FIRST COMMUNITY MORTGAGE, INC. 5 4.95% $6,265
    First Commonwealth Bank 5 5.03% $5,005
    STOCKTON MORTGAGE CORPORATION 5 5.15% $5,386
    The Union Bank Company 5 5.50% $5,268
    Peoples Bank 5 4.53% $5,023
    CARDINAL FINANCIAL 4 4.72% $9,525
    HOWARD HANNA FINANCIAL SERVICES, INC. 4 3.63% $5,983
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 4.22% $6,882
    NATIONWIDE MORTGAGE BANKERS, INC. 4 4.84% $6,847
    GVC MORTGAGE, INC. 4 5.91% $7,541
    GUARANTEED RATE AFFINITY, LLC 4 5.25% $6,483
    GSF Mortgage Corporation 4 5.34% $7,090
    GENEVA FINANCIAL, LLC 4 5.97% $6,488
    THE EQUITABLE MORTGAGE CORPORATION 4 4.28% $4,615
    MYCUMORTGAGE, LLC 4 5.94% $5,620
    WEST PENN FINANCIAL SERVICE CENTER, INC. 4 4.09% $4,606
    Civista Bank 4 4.47% $4,919
    RiverHills Bank 3 4.50% $5,243
    ABSOLUTE HOME MORTGAGE CORPORATION 3 3.75% $9,162
    AMERICAN FINANCIAL RESOURCES, INC. 3 5.88% $6,536
    American Midwest Mortgage Corporation 3 5.17% $8,512
    Carrington Mortgage Services, LLC 3 5.46% $4,787
    Cincinnati Federal 3 5.29% $4,942
    Citizens Bank 3 5.92% $7,252
    ENVOY MORTGAGE, LTD 3 5.88% $6,747
    EVERETT FINANCIAL, INC. 3 4.79% $4,657
    First Federal Savings and Loan Association of Lakewood 3 5.92% $6,654
    First Guaranty Mortgage Corporation 3 3.46% $3,876
    MORTGAGE 1 INCORPORATED 3 5.88% $7,550
    1st National Bank 3 4.38% $3,505
    SIWELL, INC. 3 4.42% $5,024
    The State Bank and Trust Company 3 3.21% $4,273
    Evolve Bank & Trust 2 5.56% $6,556
    YOUR HOME FINANCIAL LLC 2 5.75% $6,904
    GUARANTY HOME MORTGAGE CORPORATION 2 5.50% $5,256
    DHI MORTGAGE COMPANY, LTD. 2 2.25% $7,067
    SUCCESS MORTGAGE PARTNERS, INC. 2 4.88% $6,107
    Truist 2 5.69% $5,107
    INSPIRE HOME LOANS INC. 2 4.81% $8,998
    ARC HOME LLC 2 5.81% $6,627
    Guardian Savings Bank, A Federal Savings Bank 2 3.94% $4,089
    MICHIGAN MUTUAL, INC. 2 5.56% $8,549
    First Financial Bank 2 4.19% $5,631
    CHURCHILL MORTGAGE CORPORATION 2 5.94% $6,357
    Century Mortgage Company DBA Century Lending Company 2 5.69% $5,299
    US MORTGAGE CORPORATION 2 3.94% $6,098
    VAN DYK MORTGAGE CORPORATION 2 5.13% $4,594
    Somerville Bank 2 4.50% $5,262
    BROKER SOLUTIONS, INC. 2 5.37% $6,188
    RELIANCE FIRST CAPITAL, LLC 2 3.69% $6,698
    SOUTHWEST FUNDING, LP 2 6.00% $9,503
    Northpointe Bank 2 4.06% $5,849
    MUTUAL OF OMAHA MORTGAGE, INC. 2 4.25% $6,766
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 5.38% $4,425
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 5.50% $4,787
    CONTOUR MORTGAGE CORPORATION 1 5.75% $5,988
    Community Star Credit Union 1 6.25% $4,583
    UNITED 1 3.38% $3,581
    UNITED HOME LOANS, INC. 1 5.75% $6,175
    UNITED MORTGAGE CORP 1 5.50% $7,235
    Victorian Finance, LLC 1 3.50% $4,613
    Assurance Financial Group, L.L.C. 1 3.62% $3,449
    NORTHERN MORTGAGE SERVICES, LLC 1 3.25% $3,526
    NATIONS DIRECT MORTGAGE, LLC 1 5.00% $7,278
    OHIO VALLEY COMMUNITY FEDERAL CREDIT UNION 1 4.50% $2,487
    OPTION FINANCIAL, LLC 1 6.88% $7,887
    MIDLAND MORTGAGE CORPORATION 1 3.88% $3,050
    Magnolia Bank 1 5.63% $4,400
    Liberty National Bank 1 3.25% $4,198
    LEADERONE FINANCIAL CORPORATION 1 5.13% $6,163
    LAND HOME FINANCIAL SERVICES, INC. 1 7.00% $6,274
    LAKEVIEW LOAN SERVICING, LLC 1 3.25% $2,257
    Princeton Mortgage Corporation 1 6.75% $7,388
    LAKE MICHIGAN CREDIT UNION 1 3.00% $5,594
    Ixonia Bank 1 4.75% $3,907
    Ameris Bank 1 5.63% $5,628
    South State Bank 1 4.50% $4,607
    SUN WEST MORTGAGE COMPANY, INC. 1 4.75% $3,653
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 4.75% $3,719
    First Savings Bank 1 3.75% $5,392
    The Citizens National Bank of Bluffton 1 4.50% $4,607
    The Federal Savings Bank 1 6.25% $6,940
    FirstBank 1 5.50% $5,382
    The Merchants National Bank 1 6.38% $3,929

    The top Ohio USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 217 USDA loans originated. Their average total fees are $5,912, which is $58 higher than the next largest lender, UNION HOME MORTGAGE CORP..

    The lowest fee Ohio USDA lenders (with over 10 loans originated) are FIRST OHIO HOME FINANCE, INC. ($2,635), RUOFF MORTGAGE COMPANY, INC. ($2,890), DEVELOPER'S MORTGAGE COMPANY ($3,037), Superior Credit Union, Inc. ($3,791) and Fifth Third Bank ($4,608).

    The lowest rate Ohio USDA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.28%), NVR Mortgage Finance, Inc. (3.68%), DEVELOPER'S MORTGAGE COMPANY (4.38%), WesBanco (4.40%) and Superior Credit Union, Inc. (4.44%).