Auburn USDA Loans

AUBURN-OPELIKA, AL

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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.

    Auburn's 31 lenders originated 79 USDA loans during 2021. The total origination value was $14,015,000, with an average USDA loan value of $177,405.

    Auburn USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Auburn averaged 5.36% 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 5.19% and one month ago for the week of 2022-04-08, the average rate was 4.96%.

    The average rate one year ago was 2.87%.

    For refis of the same type during the week of 2022-05-13, the average rate was 4.95%.

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

    Auburn 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 Auburn level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 13 3.28% $2,957
    Synovus Bank 8 2.75% $4,954
    CMG MORTGAGE, INC. 8 2.78% $6,844
    Ameris Bank 4 2.75% $4,701
    GUILD MORTGAGE COMPANY 4 3.03% $4,648
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.17% $6,293
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.21% $4,602
    Flagstar Bank, FSB 3 2.61% $3,818
    HOMESTAR FINANCIAL CORPORATION 3 3.13% $2,134
    Renasant Bank 3 2.67% $1,782
    CERTAINTY HOME LOANS, LLC 2 2.75% $5,006
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.38% $5,335
    Magnolia Bank 2 3.13% $7,121
    Truist Bank 2 2.69% $4,506
    Prosperity Home Mortgage, LLC 2 2.81% $5,749
    AMERICAN FINANCIAL NETWORK, INC. 1 3.25% $6,409
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.50% $4,145
    Austin Capital Bank SSB 1 2.75% $4,574
    BROKER SOLUTIONS, INC. 1 2.88% $5,478
    Colten Mortgage, LLC 1 2.50% $5,765
    Consumer First Mortgage, Inc. 1 2.88% $5,485
    CROSSCOUNTRY MORTGAGE, LLC 1 3.63% $1,581
    FirstBank 1 3.00% $6,489
    FIRST COMMUNITY MORTGAGE, INC. 1 3.13% $5,048
    Hamilton Mortgage Corporation 1 3.25% $6,562
    INTERLINC MORTGAGE SERVICES, LLC 1 2.75% $1,308
    MOVEMENT MORTGAGE, LLC 1 3.50% $5,377
    Nations Lending Corporation 1 3.25% $1,565
    NEWREZ LLC 1 2.25% $4,770
    PENNYMAC LOAN SERVICES, LLC 1 2.88% $4,266
    TJC Mortgage, Inc. 1 2.63% $6,159

    The top Auburn USDA lender as defined by loan originations is ARK-LA-TEX FINANCIAL SERVICES, LLC., with 13 USDA loans originated. Their average total fees are $2,957, which is $1,997 lower than the next largest lender, Synovus Bank.

    The lowest fee Auburn USDA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. ($2,957), .

    The lowest rate Auburn USDA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. (3.28%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Auburn (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $271,200 (26.1%) $306,921 (17.2%) 1.00 668
    2018-02-01 $274,500 (20.7%) $307,760 (12.7%) 0.99 705
    2018-03-01 $267,900 (11.8%) $301,073 (7.4%) 0.93 741
    2018-04-01 $271,250 (8.2%) $305,832 (6.9%) 0.91 739
    2018-05-01 $272,500 (7.4%) $318,172 (10.6%) 0.91 754
    2018-06-01 $276,671 (8.5%) $319,995 (11.2%) 0.92 790
    2018-07-01 $275,000 (3.5%) $317,217 (6.2%) 0.92 825
    2018-08-01 $273,344 (4.9%) $309,279 (4.0%) 0.91 879
    2018-09-01 $274,900 (5.8%) $309,275 (4.4%) 0.92 850
    2018-10-01 $276,600 (6.4%) $310,323 (4.4%) 0.93 831
    2018-11-01 $278,200 (5.0%) $303,200 (0.3%) 0.93 802
    2018-12-01 $282,500 (6.6%) $298,355 (-2.2%) 0.97 815
    2019-01-01 $280,000 (3.2%) $299,977 (-2.3%) 0.97 788
    2019-02-01 $279,950 (2.0%) $304,453 (-1.1%) 0.94 814
    2019-03-01 $286,109 (6.8%) $308,525 (2.5%) 0.93 863
    2019-04-01 $294,644 (8.6%) $314,420 (2.8%) 0.93 912
    2019-05-01 $292,200 (7.2%) $314,554 (-1.1%) 0.90 913
    2019-06-01 $289,000 (4.5%) $310,335 (-3.0%) 0.89 911
    2019-07-01 $284,950 (3.6%) $314,415 (-0.9%) 0.89 872
    2019-08-01 $282,214 (3.3%) $311,975 (0.9%) 0.89 848
    2019-09-01 $279,464 (1.7%) $309,187 (0.0%) 0.89 819
    2019-10-01 $278,950 (0.9%) $310,355 (0.0%) 0.89 833
    2019-11-01 $279,000 (0.3%) $310,482 (2.4%) 0.90 836
    2019-12-01 $279,700 (-1.0%) $309,965 (3.9%) 0.93 803
    2020-01-01 $279,500 (-0.2%) $309,578 (3.2%) 0.93 765
    2020-02-01 $279,900 (0.0%) $310,178 (1.9%) 0.90 773
    2020-03-01 $279,900 (-2.2%) $310,331 (0.6%) 0.87 804
    2020-04-01 $284,900 (-3.3%) $313,509 (-0.3%) 0.89 840
    2020-05-01 $289,000 (-1.1%) $316,050 (0.5%) 0.88 787
    2020-06-01 $293,450 (1.5%) $332,392 (7.1%) 0.86 749
    2020-07-01 $294,250 (3.3%) $333,934 (6.2%) 0.84 732
    2020-08-01 $295,000 (4.5%) $333,319 (6.8%) 0.84 699
    2020-09-01 $297,055 (6.3%) $338,092 (9.4%) 0.85 697
    2020-10-01 $299,900 (7.5%) $346,825 (11.8%) 0.86 652
    2020-11-01 $304,815 (9.3%) $354,928 (14.3%) 0.87 619
    2020-12-01 $303,900 (8.7%) $361,127 (16.5%) 0.89 567
    2021-01-01 $309,000 (10.6%) $368,646 (19.1%) 0.91 520
    2021-02-01 $315,778 (12.8%) $376,559 (21.4%) 0.91 498
    2021-03-01 $319,385 (14.1%) $374,223 (20.6%) 0.90 503
    2021-04-01 $326,241 (14.5%) $384,257 (22.6%) 0.88 481
    2021-05-01 $330,000 (14.2%) $407,346 (28.9%) 0.87 408
    2021-06-01 $352,450 (20.1%) $409,329 (23.2%) 0.92 423
    2021-07-01 $336,950 (14.5%) $400,196 (19.8%) 0.88 427
    2021-08-01 $338,450 (14.7%) $393,307 (18.0%) 0.89 506
    2021-09-01 $338,950 (14.1%) $391,720 (15.9%) 0.89 475
    2021-10-01 $337,493 (12.5%) $398,415 (14.9%) 0.89 455
    2021-11-01 $342,900 (12.5%) $395,890 (11.5%) 0.90 422
    2021-12-01 $349,450 (15.0%) $405,749 (12.4%) 0.93 360
    2022-01-01 $357,000 (15.5%) $409,340 (11.0%) 0.95 349
    2022-02-01 $352,500 (11.6%) $406,635 (8.0%) 0.90 340
    2022-03-01 $366,007 (14.6%) $414,023 (10.6%) 0.90 344
    2022-04-01 $375,000 (15.0%) $417,750 (8.7%) 0.88 374
    Auburn's median listing price for 2022-04-01 was $375,000, a difference of $48,759 (15.0%) versus the prior year and $8,993 versus the prior month.

    Auburn's median listing price comes in at 88% of the national average.

    Auburn's average listing price for 2022-04-01 was $417,750, a difference of $33,493 (8.7%) versus the prior year and $3,727 versus the prior month.

    For the 2022-04-01 period, Auburn had 374 MLS listings, a difference of 30 listings (9%) versus the prior month and -107 listings (-22%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Auburn (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 85 days 2,446 sqft
    2018-02-01 73 days 2,463 sqft
    2018-03-01 64 days 2,460 sqft
    2018-04-01 59 days 2,442 sqft
    2018-05-01 59 days 2,456 sqft
    2018-06-01 64 days 2,426 sqft
    2018-07-01 68 days 2,468 sqft
    2018-08-01 67 days 2,443 sqft
    2018-09-01 74 days 2,467 sqft
    2018-10-01 87 days 2,481 sqft
    2018-11-01 101 days 2,437 sqft
    2018-12-01 96 days 2,400 sqft
    2019-01-01 96 days 2,371 sqft
    2019-02-01 84 days 2,359 sqft
    2019-03-01 58 days 2,379 sqft
    2019-04-01 59 days 2,393 sqft
    2019-05-01 67 days 2,406 sqft
    2019-06-01 71 days 2,360 sqft
    2019-07-01 74 days 2,372 sqft
    2019-08-01 79 days 2,393 sqft
    2019-09-01 77 days 2,393 sqft
    2019-10-01 82 days 2,403 sqft
    2019-11-01 81 days 2,406 sqft
    2019-12-01 90 days 2,406 sqft
    2020-01-01 98 days 2,392 sqft
    2020-02-01 87 days 2,330 sqft
    2020-03-01 59 days 2,335 sqft
    2020-04-01 66 days 2,344 sqft
    2020-05-01 78 days 2,335 sqft
    2020-06-01 76 days 2,358 sqft
    2020-07-01 62 days 2,331 sqft
    2020-08-01 60 days 2,306 sqft
    2020-09-01 60 days 2,306 sqft
    2020-10-01 71 days 2,333 sqft
    2020-11-01 78 days 2,330 sqft
    2020-12-01 87 days 2,317 sqft
    2021-01-01 80 days 2,260 sqft
    2021-02-01 60 days 2,235 sqft
    2021-03-01 43 days 2,236 sqft
    2021-04-01 52 days 2,241 sqft
    2021-05-01 36 days 2,249 sqft
    2021-06-01 36 days 2,274 sqft
    2021-07-01 38 days 2,234 sqft
    2021-08-01 36 days 2,197 sqft
    2021-09-01 46 days 2,167 sqft
    2021-10-01 53 days 2,234 sqft
    2021-11-01 54 days 2,197 sqft
    2021-12-01 59 days 2,234 sqft
    2022-01-01 58 days 2,252 sqft
    2022-02-01 40 days 2,245 sqft
    2022-03-01 35 days 2,315 sqft
    2022-04-01 31 days 2,312 sqft
    Auburn's median listing age (time on market) for 2022-04-01 was 31 days. This is -40% shorter than the same period one year ago.

    Auburn's median square footage for active listings during the 2022-04-01 period was 2,312 sqft. One year prior, the average listing was 2,241 sqft.