Wisconsin USDA Loan Rates, Closing Costs & Stats
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.
Wisconsin USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Wisconsin
for the week of 2023-11-24, compared to the national average (all USDA variants) of
0% for the same period.
Wisconsin's average USDA mortgage closing costs are $4,457.
The average rate for the prior week (2023-11-17) was 6.96% and one month ago for the week of 2023-10-20, the average rate was 7.08%.
The average rate one year ago was 5.92%.
For refis of the same type during the week of 2023-11-24, the average rate was -1.29%.
Wisconsin 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 Wisconsin level.
The top Wisconsin USDA lender as defined by loan originations is FINANCE OF AMERICA MORTGAGE LLC, with
82 USDA loans originated. Their average total fees are
$4,805, which is $598
lower than the next largest lender,
Lend Smart Mortgage, LLC.
The lowest fee Wisconsin USDA lenders (with over 10 loans originated) are CHERRY CREEK MORTGAGE, LLC ($1,888), EVERETT FINANCIAL, INC. ($3,224), Associated Bank ($4,291), FIRST CENTENNIAL MORTGAGE CORPORATION ($4,655) and Nations Lending Corporation ($4,716).
The lowest rate Wisconsin USDA lenders (with over 10 loans originated) are Flagstar Bank, FSB (4.31%), DAS Acquisition Company, LLC (4.43%), Prosperity Home Mortgage, LLC (4.46%), Associated Bank (4.54%) and EVERETT FINANCIAL, INC. (4.60%).