Baton Rouge USDA Loan Rates, Closing Costs & Stats
BATON ROUGE, LA
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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.