Abilene USDA Loans
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.
Abilene's 8 lenders originated 13 USDA loans during 2021. The total origination value was $1,995,000, with an average USDA loan value of $153,462.
Abilene USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Abilene
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was 5.54% and one month ago for the week of 2022-04-08, the average rate was 4.7%.
The average rate one year ago was 3.32%.
For refis of the same type during the week of 2022-05-13, the average rate was 4.92%.
Abilene USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Abilene level.
|Name||# of Loans||2021 Avg. 30yFix Rate||2021 Avg. Total Fees|
|OPEN MORTGAGE, LLC||5||3.18%||$6,457|
|CMG MORTGAGE, INC.||2||2.50%||$4,837|
|F & M Bank||1||2.50%||$7,228|
|MID AMERICA MORTGAGE, INC.||1||2.99%||$5,411|
|NATIONS DIRECT MORTGAGE, LLC||1||2.99%||$3,935|
|CALIBER HOME LOANS, INC.||1||2.25%||$5,610|
|TJC Mortgage, Inc.||1||2.88%||$6,139|
|First Financial Bank||1||2.75%||$3,339|
The top Abilene USDA lender as defined by loan originations is OPEN MORTGAGE, LLC, with
5 USDA loans originated. Their average total fees are
$6,457, which is $1,620
higher than the next largest lender,
CMG MORTGAGE, INC..
The lowest fee Abilene USDA lenders (with over 10 loans originated) are .
The lowest rate Abilene USDA lenders (with over 10 loans originated) are .