Abilene USDA Loans

ABILENE, TX

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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.

    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 averaged 5.21% 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%.

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

    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 .