Baton Rouge USDA Loan Rates, Closing Costs & Stats

BATON ROUGE, LA

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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.

    Baton Rouge's 66 lenders originated 1,022 USDA loans during 2022. The total origination value was $214,180,000, with an average USDA loan value of $209,569.

    Baton Rouge USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Baton Rouge averaged 6.04% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

    Baton Rouge's average USDA mortgage closing costs are $5,070.

    The average rate for the prior week (2023-05-19) was 5.98% and one month ago for the week of 2023-04-21, the average rate was 6.19%.

    The average rate one year ago was 4.71%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.46%.

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

    Baton Rouge 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 Baton Rouge level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    GMFS LLC 240 4.64% $4,864
    CARDINAL FINANCIAL 73 4.61% $7,057
    Assurance Financial Group, L.L.C. 69 4.73% $6,873
    DSLD MORTGAGE, LLC 67 4.33% $4,515
    DHI MORTGAGE COMPANY, LTD. 53 4.13% $6,247
    EUSTIS AND AMERICAN MORTGAGE COMPANY 39 4.63% $7,994
    UNITED WHOLESALE MORTGAGE, LLC 36 4.83% $7,118
    HOME POINT FINANCIAL CORPORATION 34 4.26% $7,313
    MOVEMENT MORTGAGE, LLC 32 4.78% $5,980
    First Option Mortgage, LLC 28 5.05% $8,303
    Gateway First Bank 27 4.48% $5,964
    Flagstar Bank, FSB 18 4.11% $5,658
    CALIBER HOME LOANS, INC. 17 4.44% $6,381
    MID AMERICA MORTGAGE, INC. 17 5.08% $6,449
    STANDARD MORTGAGE CORPORATION 16 4.19% $6,501
    FIDELITY BANK 16 4.66% $6,944
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 5.25% $7,197
    AMCAP MORTGAGE, LTD. 15 4.92% $8,839
    AMERICAN FINANCIAL RESOURCES, INC. 13 5.02% $5,987
    Hometown Equity Mortgage, LLC 12 3.90% $9,124
    Gulf Coast Bank and Trust Company 11 4.93% $6,176
    Hancock Whitney Bank 10 4.41% $6,241
    Network Funding, L.P. 9 4.79% $6,338
    PRIMARY RESIDENTIAL MORTGAGE, INC. 8 4.59% $7,069
    GUILD MORTGAGE COMPANY 7 4.75% $6,861
    MORTGAGE FINANCIAL SERVICES, LLC 7 3.66% $6,815
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 7 5.04% $5,855
    THE MORTGAGE FIRM, INC. 7 4.18% $6,267
    LEGEND LENDING CORPORATION 6 6.31% $9,184
    UNION HOME MORTGAGE CORP. 6 4.96% $6,966
    PLAZA HOME MORTGAGE, INC. 5 5.60% $8,567
    GUARANTEED RATE, INC. 5 4.76% $7,009
    PENNYMAC LOAN SERVICES, LLC 5 3.19% $5,500
    Paramount Residential Mortgage Group, Inc. 5 5.23% $8,641
    ANGEL OAK HOME LOANS LLC 5 3.73% $5,959
    NEWREZ LLC 5 5.13% $7,567
    Republic State Mortgage Co. 4 4.63% $7,450
    HOMESPIRE MORTGAGE CORPORATION 4 5.41% $8,337
    LOANDEPOT.COM, LLC 4 4.81% $6,749
    Red River Bank 4 4.41% $5,587
    SOUTHWEST FUNDING, LP 4 4.59% $8,110
    First Horizon Bank 3 4.50% $5,661
    SUMMIT FUNDING, INC. 3 5.71% $11,348
    CROSSCOUNTRY MORTGAGE, LLC 2 5.63% $6,788
    Equity Prime Mortgage LLC 2 7.31% $5,632
    FBT Mortgage, L.L.C. 2 3.75% $5,864
    Bank of England 2 5.06% $7,762
    Nations Lending Corporation 2 3.88% $4,618
    OCMBC, INC. 2 3.38% $10,211
    PLANET HOME LENDING, LLC 2 3.69% $6,823
    Regions Bank 2 5.75% $6,594
    SWBC MORTGAGE CORPORATION 2 5.25% $3,888
    Wolfe Financial, Inc 2 4.81% $6,416
    LEADERONE FINANCIAL CORPORATION 1 7.25% $6,743
    DRAPER AND KRAMER MORTGAGE CORP. 1 3.25% $6,727
    HOMESIDE FINANCIAL, LLC 1 6.13% $10,226
    Citizens Bank 1 5.25% $5,785
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.88% $9,099
    CMG MORTGAGE, INC. 1 4.50% $6,208
    EMM LOANS LLC 1 3.38% $10,942
    FREEDOM MORTGAGE CORPORATION 1 6.38% $8,953
    THRIVE MORTGAGE, LLC 1 3.75% $8,339
    Plains Commerce Bank 1 5.13% $6,426
    TOP FLITE FINANCIAL, INC. 1 4.25% $8,631
    PERFORMANCE MORTGAGE LLC 1 5.25% $7,555
    Austin Capital Bank SSB 1 3.63% $6,900

    The top Baton Rouge USDA lender as defined by loan originations is GMFS LLC, with 240 USDA loans originated. Their average total fees are $4,864, which is $2,193 lower than the next largest lender, CARDINAL FINANCIAL.

    The lowest fee Baton Rouge USDA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($4,515), GMFS LLC ($4,864), Flagstar Bank, FSB ($5,658), Gateway First Bank ($5,964) and MOVEMENT MORTGAGE, LLC ($5,980).

    The lowest rate Baton Rouge USDA lenders (with over 10 loans originated) are Hometown Equity Mortgage, LLC (3.90%), Flagstar Bank, FSB (4.11%), DHI MORTGAGE COMPANY, LTD. (4.13%), STANDARD MORTGAGE CORPORATION (4.19%) and HOME POINT FINANCIAL CORPORATION (4.26%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Baton Rouge (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 $225,000 (2.7%) $302,755 (3.0%) 0.83 3,173
    2018-02-01 $225,833 (4.9%) $303,619 (3.2%) 0.82 3,194
    2018-03-01 $234,900 (6.8%) $310,914 (3.3%) 0.82 3,430
    2018-04-01 $238,504 (6.0%) $313,980 (2.4%) 0.81 3,507
    2018-05-01 $240,700 (5.1%) $315,601 (1.2%) 0.80 3,665
    2018-06-01 $245,000 (7.0%) $316,128 (2.3%) 0.82 3,884
    2018-07-01 $239,900 (4.8%) $309,907 (0.8%) 0.80 4,012
    2018-08-01 $239,900 (5.5%) $308,314 (1.7%) 0.80 4,038
    2018-09-01 $239,900 (5.9%) $306,124 (1.1%) 0.81 4,014
    2018-10-01 $236,430 (3.5%) $303,515 (-0.1%) 0.80 4,092
    2018-11-01 $237,735 (4.7%) $302,359 (-0.8%) 0.81 4,066
    2018-12-01 $236,150 (5.0%) $299,534 (-1.2%) 0.81 4,017
    2019-01-01 $238,461 (6.0%) $302,152 (-0.2%) 0.82 3,861
    2019-02-01 $239,700 (6.1%) $301,575 (-0.7%) 0.81 3,955
    2019-03-01 $240,000 (2.2%) $307,046 (-1.2%) 0.80 3,955
    2019-04-01 $247,000 (3.6%) $314,812 (0.3%) 0.78 4,058
    2019-05-01 $249,900 (3.8%) $316,437 (0.3%) 0.78 4,091
    2019-06-01 $249,999 (2.0%) $317,220 (0.4%) 0.78 4,190
    2019-07-01 $248,691 (3.7%) $313,687 (1.2%) 0.78 4,246
    2019-08-01 $247,900 (3.3%) $316,277 (2.6%) 0.78 4,296
    2019-09-01 $245,703 (2.4%) $313,595 (2.4%) 0.78 4,086
    2019-10-01 $242,975 (2.8%) $309,286 (1.9%) 0.78 4,195
    2019-11-01 $241,095 (1.4%) $307,892 (1.8%) 0.79 4,153
    2019-12-01 $239,950 (1.6%) $305,002 (1.8%) 0.80 3,981
    2020-01-01 $239,900 (0.6%) $307,245 (1.7%) 0.80 3,806
    2020-02-01 $241,000 (0.5%) $309,783 (2.7%) 0.79 3,821
    2020-03-01 $249,000 (3.8%) $316,647 (3.1%) 0.78 3,836
    2020-04-01 $246,025 (-0.4%) $314,833 (0.0%) 0.77 3,832
    2020-05-01 $252,420 (1.0%) $324,657 (2.6%) 0.77 3,655
    2020-06-01 $259,950 (4.0%) $337,001 (6.2%) 0.77 3,393
    2020-07-01 $263,425 (5.9%) $338,955 (8.1%) 0.76 3,276
    2020-08-01 $268,280 (8.2%) $346,906 (9.7%) 0.77 3,006
    2020-09-01 $275,000 (11.9%) $354,504 (13.1%) 0.79 2,849
    2020-10-01 $273,900 (12.7%) $355,158 (14.8%) 0.78 2,578
    2020-11-01 $270,495 (12.2%) $356,804 (15.9%) 0.79 2,518
    2020-12-01 $270,495 (12.7%) $360,342 (18.1%) 0.80 2,433
    2021-01-01 $270,000 (12.6%) $367,823 (19.7%) 0.81 2,234
    2021-02-01 $280,000 (16.2%) $383,752 (23.9%) 0.81 1,946
    2021-03-01 $287,950 (15.6%) $388,624 (22.7%) 0.82 1,776
    2021-04-01 $300,629 (22.2%) $407,952 (29.6%) 0.81 1,625
    2021-05-01 $310,000 (22.8%) $418,997 (29.1%) 0.82 1,536
    2021-06-01 $306,913 (18.1%) $419,888 (24.6%) 0.81 1,530
    2021-07-01 $300,000 (13.9%) $413,057 (21.9%) 0.79 1,593
    2021-08-01 $299,445 (11.6%) $405,981 (17.0%) 0.80 1,613
    2021-09-01 $299,947 (9.1%) $406,903 (14.8%) 0.80 1,511
    2021-10-01 $299,000 (9.2%) $404,565 (13.9%) 0.80 1,444
    2021-11-01 $315,000 (16.5%) $415,007 (16.3%) 0.84 1,347
    2021-12-01 $326,168 (20.6%) $422,717 (17.3%) 0.88 1,220
    2022-01-01 $329,995 (22.2%) $433,119 (17.8%) 0.89 1,100
    2022-02-01 $337,225 (20.4%) $456,064 (18.8%) 0.88 1,012
    2022-03-01 $346,275 (20.3%) $476,550 (22.6%) 0.87 995
    2022-04-01 $340,000 (13.1%) $480,681 (17.8%) 0.81 1,049
    2022-05-01 $326,300 (5.3%) $454,625 (8.5%) 0.75 1,234
    2022-06-01 $329,450 (7.3%) $445,165 (6.0%) 0.73 1,429
    2022-07-01 $325,000 (8.3%) $427,996 (3.6%) 0.73 1,740
    2022-08-01 $323,216 (7.9%) $422,336 (4.0%) 0.75 1,907
    2022-09-01 $325,000 (8.4%) $421,023 (3.5%) 0.76 1,977
    2022-10-01 $324,995 (8.7%) $419,348 (3.7%) 0.76 2,034
    2022-11-01 $321,623 (2.1%) $416,128 (0.3%) 0.77 2,136
    2022-12-01 $320,990 (-1.6%) $416,766 (-1.4%) 0.79 2,053
    2023-01-01 $323,650 (-1.9%) $416,167 (-3.9%) 0.80 1,885
    2023-02-01 $324,400 (-3.8%) $417,515 (-8.5%) 0.78 1,901
    2023-03-01 $325,000 (-6.1%) $416,320 (-12.6%) 0.77 1,915
    2023-04-01 $329,500 (-3.1%) $417,979 (-13.0%) 0.77 1,937
    Baton Rouge's median listing price for 2023-04-01 was $329,500, a difference of $-10,500 (-3.1%) versus the prior year and $4,500 versus the prior month.

    Baton Rouge's median listing price comes in at 77% of the national average.

    Baton Rouge's average listing price for 2023-04-01 was $417,979, a difference of $-62,702 (-13.0%) versus the prior year and $1,659 versus the prior month.

    For the 2023-04-01 period, Baton Rouge had 1,937 MLS listings, a difference of 22 listings (1%) versus the prior month and 888 listings (85%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Baton Rouge (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 88 days 1,881 sqft
    2018-02-01 86 days 1,878 sqft
    2018-03-01 63 days 1,908 sqft
    2018-04-01 60 days 1,942 sqft
    2018-05-01 64 days 1,947 sqft
    2018-06-01 64 days 1,965 sqft
    2018-07-01 66 days 1,954 sqft
    2018-08-01 73 days 1,952 sqft
    2018-09-01 78 days 1,944 sqft
    2018-10-01 82 days 1,932 sqft
    2018-11-01 87 days 1,927 sqft
    2018-12-01 93 days 1,910 sqft
    2019-01-01 97 days 1,912 sqft
    2019-02-01 91 days 1,913 sqft
    2019-03-01 75 days 1,927 sqft
    2019-04-01 69 days 1,951 sqft
    2019-05-01 72 days 1,971 sqft
    2019-06-01 74 days 1,973 sqft
    2019-07-01 78 days 1,943 sqft
    2019-08-01 84 days 1,938 sqft
    2019-09-01 88 days 1,933 sqft
    2019-10-01 86 days 1,919 sqft
    2019-11-01 92 days 1,914 sqft
    2019-12-01 102 days 1,902 sqft
    2020-01-01 106 days 1,880 sqft
    2020-02-01 96 days 1,912 sqft
    2020-03-01 79 days 1,925 sqft
    2020-04-01 81 days 1,914 sqft
    2020-05-01 92 days 1,943 sqft
    2020-06-01 94 days 1,982 sqft
    2020-07-01 79 days 1,989 sqft
    2020-08-01 76 days 2,007 sqft
    2020-09-01 79 days 2,051 sqft
    2020-10-01 82 days 2,014 sqft
    2020-11-01 82 days 2,005 sqft
    2020-12-01 80 days 1,992 sqft
    2021-01-01 86 days 1,975 sqft
    2021-02-01 86 days 2,010 sqft
    2021-03-01 65 days 2,011 sqft
    2021-04-01 64 days 2,053 sqft
    2021-05-01 57 days 2,069 sqft
    2021-06-01 53 days 2,036 sqft
    2021-07-01 46 days 2,032 sqft
    2021-08-01 50 days 2,020 sqft
    2021-09-01 64 days 2,023 sqft
    2021-10-01 68 days 2,012 sqft
    2021-11-01 67 days 2,059 sqft
    2021-12-01 72 days 2,075 sqft
    2022-01-01 74 days 2,069 sqft
    2022-02-01 67 days 2,079 sqft
    2022-03-01 48 days 2,111 sqft
    2022-04-01 39 days 2,078 sqft
    2022-05-01 39 days 2,046 sqft
    2022-06-01 38 days 2,038 sqft
    2022-07-01 39 days 2,014 sqft
    2022-08-01 51 days 2,011 sqft
    2022-09-01 59 days 2,012 sqft
    2022-10-01 67 days 2,012 sqft
    2022-11-01 71 days 2,010 sqft
    2022-12-01 86 days 2,011 sqft
    2023-01-01 93 days 2,003 sqft
    2023-02-01 92 days 2,007 sqft
    2023-03-01 70 days 2,005 sqft
    2023-04-01 67 days 2,014 sqft
    Baton Rouge's median listing age (time on market) for 2023-04-01 was 67 days. This is 72% longer than the same period one year ago.

    Baton Rouge's median square footage for active listings during the 2023-04-01 period was 2,014 sqft. One year prior, the average listing was 2,078 sqft.