Auburn USDA Loans

AUBURN-OPELIKA, 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.

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.