Beaumont USDA Loan Rates, Closing Costs & Stats

BEAUMONT-PORT ARTHUR, TX

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.

Beaumont's 19 lenders originated 35 USDA loans during 2023. The total origination value was $5,675,000, with an average USDA loan value of $162,143.

Beaumont USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Beaumont averaged 6.3% for the week of 2024-10-25, compared to the national average (all USDA variants) of 6.29% for the same period.

Beaumont's average USDA mortgage closing costs are $5,884.

The average rate for the prior week (2024-10-18) was 6.19% and one month ago for the week of 2024-09-20, the average rate was 5.9%.

The average rate one year ago was 7.52%.

For refis of the same type during the week of 2024-10-25, the average rate was 6.63%.

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

Beaumont 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 Beaumont level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
OPEN MORTGAGE, LLC 4 6.34% $5,947
Republic State Mortgage Co. 4 6.38% $7,899
AMCAP MORTGAGE, LTD. 3 6.46% $10,291
GUILD MORTGAGE COMPANY 3 6.58% $9,032
UNITED WHOLESALE MORTGAGE, LLC 3 6.46% $7,405
MID AMERICA MORTGAGE, INC. 2 6.56% $14,626
Flagstar Bank, FSB 2 6.66% $6,049
LEGEND LENDING CORPORATION 2 6.56% $10,604
Mortgage Research Center, LLC 1 6.25% $2,074
Citizens Bank 1 6.88% $7,663
Regions Bank 1 5.88% $14,272
Bank of England 1 6.25% $8,758
SECURITYNATIONAL MORTGAGE COMPANY 1 6.00% $5,737
T2 FINANCIAL LLC 1 7.25% $8,868
EVERETT FINANCIAL, INC. 1 6.13% $8,277
FBC MORTGAGE, LLC 1 5.49% $5,761
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $13,118
THRIVE MORTGAGE, LLC 1 6.63% $7,536
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $8,219

The top Beaumont USDA lender as defined by loan originations is OPEN MORTGAGE, LLC, with 4 USDA loans originated. Their average total fees are $5,947, which is $1,952 lower than the next largest lender, Republic State Mortgage Co..

The lowest fee Beaumont USDA lenders (with over 10 loans originated) are .

The lowest rate Beaumont USDA lenders (with over 10 loans originated) are .