Ohio USDA Loan Rates, Closing Costs & Stats

Ohio

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 7% for the week of 2024-07-05, compared to the national average (all USDA variants) of 6.738% for the same period.

Ohio's average USDA mortgage closing costs are $4,951.

The average rate for the prior week (2024-06-28) was 6.77% and one month ago for the week of 2024-05-31, the average rate was 6.94%.

The average rate one year ago was 6.52%.

For refis of the same type during the week of 2024-07-05, the average rate was 7.55%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
CROSSCOUNTRY MORTGAGE, LLC 183 6.85% $6,899
UNION HOME MORTGAGE CORP. 130 6.82% $7,016
NEWREZ LLC 72 6.64% $5,012
POLARIS HOME FUNDING CORP. 65 6.84% $7,244
PRIMELENDING, A PLAINSCAPITAL COMPANY 54 6.89% $6,725
MID AMERICA MORTGAGE, INC. 54 6.91% $5,721
Western Ohio Mortgage Corporation 53 7.00% $6,830
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 52 6.80% $4,481
LOANDEPOT.COM, LLC 43 6.83% $5,612
FIRST COMMUNITY MORTGAGE, INC. 34 6.79% $6,586
J. VIRGIL, INC. 30 7.02% $7,292
U.S. Bank 28 7.04% $5,074
Paramount Residential Mortgage Group, Inc. 27 6.86% $7,069
RUOFF MORTGAGE COMPANY, INC. 25 6.58% $3,470
The Huntington National Bank 24 6.40% $6,338
DAS Acquisition Company, LLC 19 7.06% $6,847
MOVEMENT MORTGAGE, LLC 19 6.57% $7,159
Ixonia Bank 18 7.03% $7,734
T2 FINANCIAL LLC 18 6.81% $9,064
WesBanco 17 6.02% $5,706
UNITED WHOLESALE MORTGAGE, LLC 17 6.45% $7,441
THRIVE MORTGAGE, LLC 17 6.93% $6,494
GUARANTEED RATE, INC. 17 6.86% $6,322
PLAZA HOME MORTGAGE, INC. 15 6.59% $6,551
BAYSHORE MORTGAGE FUNDING, LLC 13 7.13% $7,398
WRIGHT-PATT CREDIT UNION, INC. 12 6.47% $5,762
RAPID MORTGAGE COMPANY 12 6.75% $7,981
EQUITY RESOURCES, INC. 11 6.73% $6,743
DEVELOPER'S MORTGAGE COMPANY 11 6.51% $3,701
Fifth Third Bank 11 6.41% $5,158
Bank of England 10 6.51% $7,768
GUILD MORTGAGE COMPANY 9 6.50% $7,053
Hometown Equity Mortgage, LLC 9 6.78% $8,749
Chickasaw Community Bank 9 7.18% $7,382
Superior Credit Union, Inc. 9 6.65% $4,073
STOCKTON MORTGAGE CORPORATION 8 6.28% $7,924
First Federal Bank of the Midwest 7 6.02% $5,551
GENEVA FINANCIAL, LLC 7 6.86% $9,363
LIBERTY HOME MORTGAGE CORPORATION 7 6.91% $6,197
MORTGAGE SOLUTIONS OF COLORADO, LLC 6 7.75% $6,027
NFM, INC. 6 7.13% $8,808
DESCO 6 6.77% $4,454
Carrington Mortgage Services, LLC 6 6.69% $6,560
Union Savings Bank 6 6.75% $6,173
Cincinnati Federal 5 6.05% $5,417
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 6.65% $7,337
Gateway First Bank 5 6.45% $5,950
Peoples Bank 5 6.53% $5,360
NATIONWIDE MORTGAGE BANKERS, INC. 5 6.70% $7,831
NVR Mortgage Finance, Inc. 5 5.32% $7,261
TOP FLITE FINANCIAL, INC. 4 6.78% $8,296
Republic State Mortgage Co. 4 7.28% $2,056
Mortgage Research Center, LLC 4 7.38% $3,318
BROKER SOLUTIONS, INC. 4 6.63% $7,076
Nations Lending Corporation 4 6.84% $6,980
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.19% $6,686
GVC MORTGAGE, INC. 4 7.13% $6,196
Northwest Bank 3 5.96% $7,374
AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.38% $9,014
AmRes Corporation 3 6.58% $7,378
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.88% $5,403
CARDINAL FINANCIAL 3 6.25% $5,734
Citizens Bank 3 7.08% $4,869
EVERETT FINANCIAL, INC. 3 6.21% $8,170
Flagstar Bank, FSB 3 6.92% $6,417
GUARANTEED RATE AFFINITY, LLC 3 6.17% $6,828
HOMESIDE FINANCIAL, LLC 3 6.45% $6,456
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.88% $8,158
1st National Bank 3 6.79% $3,151
The State Bank and Trust Company 3 6.58% $5,220
The Union Bank Company 2 6.56% $7,335
HOWARD HANNA FINANCIAL SERVICES, INC. 2 5.94% $8,231
SOUTHPOINT FINANCIAL SERVICES, INC. 2 6.81% $1,225
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 7.13% $7,276
UNION CAPITAL MORTGAGE CORPORATION 2 6.75% $7,647
SUN WEST MORTGAGE COMPANY, INC. 2 6.88% $7,204
RiverHills Bank 2 6.63% $4,752
Equity Prime Mortgage LLC 2 6.56% $4,868
CALIBER HOME LOANS, INC. 2 6.75% $5,403
FREEDOM MORTGAGE CORPORATION 2 6.25% $7,225
NORTHERN MORTGAGE SERVICES, LLC 2 7.19% $4,913
VAN DYK MORTGAGE CORPORATION 2 7.00% $3,757
First Commonwealth Bank 2 6.68% $5,137
The Park National Bank 2 6.06% $6,103
AMERICAN FINANCIAL RESOURCES, INC. 2 5.75% $7,465
MORTGAGE 1 INCORPORATED 2 6.88% $9,446
AMCAP MORTGAGE, LTD. 2 6.56% $7,300
MICHIGAN MUTUAL, INC. 2 7.13% $8,807
Somerville Bank 1 7.75% $4,160
ENVOY MORTGAGE, LTD 1 7.13% $6,385
EMM LOANS LLC 1 6.00% $7,478
SUPERIOR FINANCIAL SOLUTIONS, LLC 1 7.50% $4,280
CRESCENT MORTGAGE COMPANY 1 7.63% $3,962
THE EQUITABLE MORTGAGE CORPORATION 1 6.50% $5,816
NATIONS RELIABLE LENDING, LLC 1 7.00% $8,858
CME Federal Credit Union 1 5.50% $10,735
Civista Bank 1 6.50% $5,406
Truist 1 6.25% $5,925
CHURCHILL MORTGAGE CORPORATION 1 7.00% $6,463
C E S 1 7.63% $6,369
Century Mortgage Company DBA Century Lending Company 1 5.50% $5,133
US MORTGAGE CORPORATION 1 6.25% $6,004
VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.88% $15,857
Victorian Finance, LLC 1 6.25% $5,007
Wells Fargo Bank 1 7.00% $4,329
AMERICAN FINANCIAL NETWORK, INC. 1 7.13% $9,278
CMG MORTGAGE, INC. 1 5.38% $7,096
Magnolia Bank 1 5.99% $13,952
Neighborhood Loans, Inc. 1 6.63% $5,357
LAND HOME FINANCIAL SERVICES, INC. 1 6.13% $5,989
INTERNATIONAL CITY MORTGAGE, INC. 1 7.25% $6,581
Northpointe Bank 1 5.75% $9,906
WEST PENN FINANCIAL SERVICE CENTER, INC. 1 6.38% $5,366
NORWICH COMMERCIAL GROUP, INC. 1 7.13% $7,566
OPEN MORTGAGE, LLC 1 7.13% $6,699
Heartland Bank 1 7.13% $4,977
HALLMARK HOME MORTGAGE, LLC 1 7.25% $7,704
Plains Commerce Bank 1 7.63% $6,173
First Federal Savings and Loan Association of Lakewood 1 6.63% $6,780
FIRST COLONY MORTGAGE CORPORATION 1 7.25% $7,134
Evolve Bank & Trust 1 7.75% $7,323
SECURITYNATIONAL MORTGAGE COMPANY 1 7.13% $6,211
Seven Seventeen Credit Union 1 6.63% $4,020
Sierra Pacific Mortgage Company, Inc. 1 6.50% $5,470

The top Ohio USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 183 USDA loans originated. Their average total fees are $6,899, which is $118 lower than the next largest lender, UNION HOME MORTGAGE CORP..

The lowest fee Ohio USDA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($3,470), DEVELOPER'S MORTGAGE COMPANY ($3,701), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($4,481), NEWREZ LLC ($5,012) and U.S. Bank ($5,074).

The lowest rate Ohio USDA lenders (with over 10 loans originated) are WesBanco (6.02%), The Huntington National Bank (6.40%), Fifth Third Bank (6.41%), UNITED WHOLESALE MORTGAGE, LLC (6.45%) and WRIGHT-PATT CREDIT UNION, INC. (6.47%).