Alexander City USDA Loan Rates, Closing Costs & Stats

Alexander City, AL

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.

Alexander City's 10 lenders originated 17 USDA loans during 2023. The total origination value was $2,925,000, with an average USDA loan value of $172,059.

Alexander City USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Alexander City averaged 0.04% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

Alexander City's average USDA mortgage closing costs are $4,406.

The average rate for the prior week (2024-11-22) was 6.75% and one month ago for the week of 2024-10-25, the average rate was 6.35%.

The average rate one year ago was 7.45%.

For refis of the same type during the week of 2024-11-29, the average rate was 0%.

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

Alexander City 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 Alexander City level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 4 6.53% $6,164
FIRST COMMUNITY MORTGAGE, INC. 2 6.94% $5,894
Flagstar Bank, FSB 2 6.50% $5,290
AMERICAN FINANCIAL RESOURCES, INC. 2 7.25% $7,257
Trustmark National Bank 2 6.25% $4,819
Keystone Funding, Inc. 1 6.99% $11,245
NEWREZ LLC 1 6.50% $11,875
Regions Bank 1 6.75% $5,500
CMG MORTGAGE, INC. 1 7.13% $6,268
GMFS LLC 1 7.25% $1,404

The top Alexander City USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 4 USDA loans originated. Their average total fees are $6,164, which is $270 higher than the next largest lender, FIRST COMMUNITY MORTGAGE, INC..

The lowest fee Alexander City USDA lenders (with over 10 loans originated) are .

The lowest rate Alexander City USDA lenders (with over 10 loans originated) are .