Baton Rouge USDA Loan Rates, Closing Costs & Stats

BATON ROUGE, LA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 51 lenders originated 456 USDA loans during 2023. The total origination value was $93,700,000, with an average USDA loan value of $205,482.

    Baton Rouge USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Baton Rouge averaged 6.97% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Baton Rouge's average USDA mortgage closing costs are $5,173.

    The average rate for the prior week (2024-04-12) was 6.82% and one month ago for the week of 2024-03-15, the average rate was 6.4%.

    The average rate one year ago was 6.14%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.63%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GMFS LLC 128 6.54% $4,956
    Assurance Financial Group, L.L.C. 36 6.55% $7,703
    UNITED WHOLESALE MORTGAGE, LLC 29 6.35% $8,345
    CARDINAL FINANCIAL 24 6.54% $7,258
    MOVEMENT MORTGAGE, LLC 19 6.38% $8,758
    DSLD MORTGAGE, LLC 15 6.24% $3,989
    DHI MORTGAGE COMPANY, LTD. 15 5.30% $5,505
    NEWREZ LLC 15 6.20% $7,489
    Gulf Coast Bank and Trust Company 11 6.51% $6,821
    MID AMERICA MORTGAGE, INC. 10 6.48% $11,866
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 9 6.79% $4,829
    EUSTIS AND AMERICAN MORTGAGE COMPANY 8 6.55% $7,472
    Paramount Residential Mortgage Group, Inc. 7 6.57% $10,411
    PLAZA HOME MORTGAGE, INC. 7 6.16% $13,691
    GUILD MORTGAGE COMPANY 6 6.46% $7,471
    AMCAP MORTGAGE, LTD. 6 6.63% $10,085
    Regions Bank 6 6.23% $8,232
    LEGEND LENDING CORPORATION 6 6.58% $9,449
    FIDELITY BANK 5 6.12% $6,686
    First Option Mortgage, LLC 5 6.85% $7,502
    STANDARD MORTGAGE CORPORATION 5 6.05% $6,597
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.94% $7,730
    Hancock Whitney Bank 4 5.97% $5,706
    Wolfe Financial, Inc 3 7.04% $7,915
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.00% $8,681
    CMG MORTGAGE, INC. 3 6.96% $8,081
    CROSSCOUNTRY MORTGAGE, LLC 3 6.96% $7,598
    FIRST COMMUNITY MORTGAGE, INC. 3 6.71% $6,750
    HOMESIDE FINANCIAL, LLC 3 6.43% $5,700
    Hometown Equity Mortgage, LLC 3 6.92% $7,565
    Network Funding, L.P. 3 6.58% $6,747
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.88% $7,821
    Nations Lending Corporation 2 6.44% $4,789
    BROKER SOLUTIONS, INC. 2 6.94% $9,813
    AMERICAN FINANCIAL NETWORK, INC. 2 6.31% $7,398
    MORTGAGE FINANCIAL SERVICES, LLC 2 6.19% $9,088
    BankPlus 2 6.38% $2,992
    Equity Prime Mortgage LLC 2 7.00% $8,579
    LOANDEPOT.COM, LLC 2 5.94% $9,063
    THE MORTGAGE FIRM, INC. 1 6.00% $8,671
    UNION HOME MORTGAGE CORP. 1 6.13% $5,677
    AmRes Corporation 1 6.25% $13,807
    U.S. Bank 1 6.25% $7,567
    HOMESPIRE MORTGAGE CORPORATION 1 6.50% $2,378
    Red River Bank 1 5.50% $5,300
    US MORTGAGE CORPORATION 1 6.50% $10,350
    Cornerstone First Mortgage, Inc 1 6.63% $10,867
    Century Mortgage Company DBA Century Lending Company 1 6.25% $8,879
    GUARANTEED RATE, INC. 1 6.75% $6,092
    BancorpSouth 1 6.38% $5,498
    SUMMIT FUNDING, INC. 1 7.25% $14,784

    The top Baton Rouge USDA lender as defined by loan originations is GMFS LLC, with 128 USDA loans originated. Their average total fees are $4,956, which is $2,748 lower than the next largest lender, Assurance Financial Group, L.L.C..

    The lowest fee Baton Rouge USDA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($3,989), GMFS LLC ($4,956), DHI MORTGAGE COMPANY, LTD. ($5,505), Gulf Coast Bank and Trust Company ($6,821) and CARDINAL FINANCIAL ($7,258).

    The lowest rate Baton Rouge USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.30%), NEWREZ LLC (6.20%), DSLD MORTGAGE, LLC (6.24%), UNITED WHOLESALE MORTGAGE, LLC (6.35%) and MOVEMENT MORTGAGE, LLC (6.38%).

    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 (2.8%) $302,742 (3.0%) 0.83 3,170
    2018-02-01 $225,725 (5.0%) $303,581 (3.2%) 0.82 3,191
    2018-03-01 $234,900 (6.8%) $310,732 (3.3%) 0.82 3,427
    2018-04-01 $238,375 (5.9%) $313,803 (2.4%) 0.81 3,504
    2018-05-01 $240,400 (5.0%) $315,434 (1.1%) 0.80 3,662
    2018-06-01 $244,900 (7.0%) $315,969 (2.3%) 0.82 3,881
    2018-07-01 $239,900 (4.8%) $309,749 (0.8%) 0.80 4,009
    2018-08-01 $239,900 (5.6%) $308,155 (1.7%) 0.80 4,035
    2018-09-01 $239,900 (5.9%) $305,962 (1.1%) 0.81 4,012
    2018-10-01 $236,400 (3.5%) $303,358 (-0.1%) 0.80 4,090
    2018-11-01 $237,520 (4.6%) $302,216 (-0.8%) 0.81 4,064
    2018-12-01 $236,150 (5.0%) $299,404 (-1.3%) 0.81 4,016
    2019-01-01 $238,370 (5.9%) $302,018 (-0.2%) 0.82 3,860
    2019-02-01 $239,700 (6.2%) $301,445 (-0.7%) 0.81 3,954
    2019-03-01 $242,123 (3.1%) $307,675 (-1.0%) 0.79 3,997
    2019-04-01 $247,000 (3.6%) $314,723 (0.3%) 0.78 4,056
    2019-05-01 $249,900 (4.0%) $316,332 (0.3%) 0.78 4,090
    2019-06-01 $249,999 (2.1%) $317,157 (0.4%) 0.78 4,188
    2019-07-01 $248,691 (3.7%) $313,625 (1.3%) 0.78 4,245
    2019-08-01 $246,836 (2.9%) $312,385 (1.4%) 0.78 4,264
    2019-09-01 $245,241 (2.2%) $310,440 (1.5%) 0.78 4,226
    2019-10-01 $243,475 (3.0%) $309,143 (1.9%) 0.79 4,201
    2019-11-01 $241,095 (1.5%) $307,892 (1.9%) 0.79 4,153
    2019-12-01 $239,950 (1.6%) $305,009 (1.9%) 0.80 3,980
    2020-01-01 $239,900 (0.6%) $307,134 (1.7%) 0.80 3,806
    2020-02-01 $240,950 (0.5%) $309,674 (2.7%) 0.79 3,821
    2020-03-01 $248,975 (2.8%) $316,539 (2.9%) 0.78 3,836
    2020-04-01 $245,975 (-0.4%) $314,725 (0.0%) 0.77 3,832
    2020-05-01 $252,285 (1.0%) $324,546 (2.6%) 0.77 3,655
    2020-06-01 $259,950 (4.0%) $336,885 (6.2%) 0.77 3,393
    2020-07-01 $263,400 (5.9%) $338,836 (8.0%) 0.76 3,276
    2020-08-01 $268,060 (8.6%) $346,779 (11.0%) 0.77 3,006
    2020-09-01 $275,000 (12.1%) $354,372 (14.2%) 0.79 2,849
    2020-10-01 $273,900 (12.5%) $355,012 (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 $269,900 (12.5%) $366,043 (19.2%) 0.81 2,234
    2021-02-01 $280,000 (16.2%) $383,660 (23.9%) 0.82 1,946
    2021-03-01 $287,945 (15.7%) $387,907 (22.6%) 0.82 1,776
    2021-04-01 $300,400 (22.1%) $407,532 (29.5%) 0.81 1,625
    2021-05-01 $310,000 (22.9%) $418,791 (29.0%) 0.82 1,536
    2021-06-01 $306,830 (18.0%) $419,574 (24.6%) 0.81 1,530
    2021-07-01 $300,000 (13.9%) $412,993 (21.9%) 0.79 1,593
    2021-08-01 $299,445 (11.7%) $405,705 (17.0%) 0.80 1,613
    2021-09-01 $299,947 (9.1%) $406,804 (14.8%) 0.80 1,511
    2021-10-01 $299,000 (9.2%) $404,565 (14.0%) 0.80 1,444
    2021-11-01 $315,000 (16.5%) $414,970 (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 (22.3%) $433,119 (18.3%) 0.89 1,100
    2022-02-01 $337,225 (20.4%) $456,064 (18.9%) 0.88 1,012
    2022-03-01 $346,275 (20.3%) $476,550 (22.9%) 0.87 995
    2022-04-01 $340,000 (13.2%) $479,521 (17.7%) 0.81 1,049
    2022-05-01 $325,700 (5.1%) $453,946 (8.4%) 0.74 1,234
    2022-06-01 $326,900 (6.5%) $444,522 (6.0%) 0.73 1,429
    2022-07-01 $325,000 (8.3%) $427,133 (3.4%) 0.73 1,739
    2022-08-01 $322,995 (7.9%) $421,934 (4.0%) 0.75 1,906
    2022-09-01 $324,879 (8.3%) $420,370 (3.3%) 0.76 1,976
    2022-10-01 $324,724 (8.6%) $418,464 (3.4%) 0.76 2,034
    2022-11-01 $320,719 (1.8%) $415,353 (0.1%) 0.77 2,136
    2022-12-01 $320,000 (-1.9%) $416,382 (-1.5%) 0.79 2,053
    2023-01-01 $323,245 (-2.1%) $415,489 (-4.1%) 0.80 1,885
    2023-02-01 $324,350 (-3.8%) $417,156 (-8.5%) 0.78 1,901
    2023-03-01 $325,000 (-6.1%) $416,064 (-12.7%) 0.77 1,915
    2023-04-01 $329,000 (-3.2%) $417,726 (-12.9%) 0.77 1,937
    2023-05-01 $334,000 (2.6%) $435,291 (-4.1%) 0.76 2,010
    2023-06-01 $335,000 (2.5%) $441,301 (-0.7%) 0.75 2,034
    2023-07-01 $325,000 (0.0%) $434,272 (1.7%) 0.74 2,145
    2023-08-01 $319,950 (-0.9%) $426,371 (1.1%) 0.73 2,285
    2023-09-01 $310,000 (-4.6%) $415,492 (-1.2%) 0.72 2,384
    2023-10-01 $301,954 (-7.0%) $403,445 (-3.6%) 0.71 2,549
    2023-11-01 $299,990 (-6.5%) $399,473 (-3.8%) 0.71 2,576
    2023-12-01 $299,000 (-6.6%) $395,653 (-5.0%) 0.73 2,531
    2024-01-01 $294,900 (-8.8%) $393,136 (-5.4%) 0.72 2,460
    2024-02-01 $299,450 (-7.7%) $400,653 (-4.0%) 0.72 2,373
    2024-03-01 $305,000 (-6.2%) $406,012 (-2.4%) 0.72 2,435
    Baton Rouge's median listing price for 2024-03-01 was $305,000, a difference of $-20,000 (-6.2%) versus the prior year and $5,550 versus the prior month.

    Baton Rouge's median listing price comes in at 72% of the national average.

    Baton Rouge's average listing price for 2024-03-01 was $406,012, a difference of $-10,052 (-2.4%) versus the prior year and $5,359 versus the prior month.

    For the 2024-03-01 period, Baton Rouge had 2,435 MLS listings, a difference of 62 listings (3%) versus the prior month and 520 listings (27%) 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 82 days 1,881 sqft
    2018-02-01 80 days 1,878 sqft
    2018-03-01 57 days 1,908 sqft
    2018-04-01 56 days 1,941 sqft
    2018-05-01 59 days 1,947 sqft
    2018-06-01 59 days 1,965 sqft
    2018-07-01 63 days 1,954 sqft
    2018-08-01 68 days 1,951 sqft
    2018-09-01 72 days 1,942 sqft
    2018-10-01 77 days 1,931 sqft
    2018-11-01 81 days 1,927 sqft
    2018-12-01 87 days 1,910 sqft
    2019-01-01 91 days 1,911 sqft
    2019-02-01 83 days 1,913 sqft
    2019-03-01 72 days 1,930 sqft
    2019-04-01 66 days 1,949 sqft
    2019-05-01 66 days 1,971 sqft
    2019-06-01 69 days 1,973 sqft
    2019-07-01 72 days 1,943 sqft
    2019-08-01 73 days 1,933 sqft
    2019-09-01 77 days 1,928 sqft
    2019-10-01 80 days 1,921 sqft
    2019-11-01 86 days 1,914 sqft
    2019-12-01 94 days 1,902 sqft
    2020-01-01 97 days 1,880 sqft
    2020-02-01 87 days 1,912 sqft
    2020-03-01 68 days 1,925 sqft
    2020-04-01 75 days 1,914 sqft
    2020-05-01 85 days 1,943 sqft
    2020-06-01 85 days 1,982 sqft
    2020-07-01 69 days 1,989 sqft
    2020-08-01 66 days 2,006 sqft
    2020-09-01 68 days 2,051 sqft
    2020-10-01 73 days 2,014 sqft
    2020-11-01 72 days 2,005 sqft
    2020-12-01 72 days 1,992 sqft
    2021-01-01 75 days 1,974 sqft
    2021-02-01 74 days 2,010 sqft
    2021-03-01 58 days 2,011 sqft
    2021-04-01 55 days 2,055 sqft
    2021-05-01 51 days 2,069 sqft
    2021-06-01 47 days 2,035 sqft
    2021-07-01 43 days 2,032 sqft
    2021-08-01 47 days 2,020 sqft
    2021-09-01 60 days 2,022 sqft
    2021-10-01 65 days 2,012 sqft
    2021-11-01 59 days 2,059 sqft
    2021-12-01 66 days 2,075 sqft
    2022-01-01 71 days 2,069 sqft
    2022-02-01 61 days 2,079 sqft
    2022-03-01 44 days 2,111 sqft
    2022-04-01 37 days 2,077 sqft
    2022-05-01 37 days 2,045 sqft
    2022-06-01 37 days 2,038 sqft
    2022-07-01 38 days 2,012 sqft
    2022-08-01 49 days 2,010 sqft
    2022-09-01 58 days 2,010 sqft
    2022-10-01 65 days 2,010 sqft
    2022-11-01 67 days 2,010 sqft
    2022-12-01 80 days 2,010 sqft
    2023-01-01 88 days 2,002 sqft
    2023-02-01 86 days 2,007 sqft
    2023-03-01 65 days 2,004 sqft
    2023-04-01 61 days 2,013 sqft
    2023-05-01 60 days 2,033 sqft
    2023-06-01 61 days 2,023 sqft
    2023-07-01 58 days 1,993 sqft
    2023-08-01 58 days 1,984 sqft
    2023-09-01 60 days 1,961 sqft
    2023-10-01 63 days 1,931 sqft
    2023-11-01 69 days 1,915 sqft
    2023-12-01 80 days 1,894 sqft
    2024-01-01 90 days 1,884 sqft
    2024-02-01 87 days 1,909 sqft
    2024-03-01 64 days 1,930 sqft
    Baton Rouge's median listing age (time on market) for 2024-03-01 was 64 days. This is -1% shorter than the same period one year ago.

    Baton Rouge's median square footage for active listings during the 2024-03-01 period was 1,930 sqft. One year prior, the average listing was 2,004 sqft.