Ohio USDA Loan Rates, Closing Costs & Stats

Ohio

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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 6.56% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

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

    The average rate for the prior week (2024-04-05) was 6.59% and one month ago for the week of 2024-03-08, the average rate was 6.55%.

    The average rate one year ago was 6.55%.

    For refis of the same type during the week of 2024-04-12, the average rate was 7.12%.

    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%).