Birmingham USDA Loan Rates, Closing Costs & Stats

BIRMINGHAM-HOOVER, AL

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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.

    Birmingham's 59 lenders originated 298 USDA loans during 2024. The total origination value was $68,370,000, with an average USDA loan value of $229,430.

    Birmingham USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Birmingham averaged 0.06% for the week of 2025-06-20, compared to the national average (all USDA variants) of 0% for the same period.

    Birmingham's average USDA mortgage closing costs are $4,810.

    The average rate for the prior week (2025-06-13) was 6.56% and one month ago for the week of 2025-05-16, the average rate was 6.43%.

    The average rate one year ago was 6.65%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.21%.

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

    Birmingham 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 Birmingham level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 48 4.69% $5,107
    Hamilton Mortgage Corporation 31 6.63% $5,538
    UNITED WHOLESALE MORTGAGE, LLC 19 5.97% $8,005
    GUILD MORTGAGE COMPANY 11 6.12% $6,371
    UNION HOME MORTGAGE CORP. 10 6.33% $8,799
    STOCKTON MORTGAGE CORPORATION 10 6.29% $9,501
    CANOPY MORTGAGE, LLC 9 5.96% $9,372
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.41% $9,113
    Renasant Bank 7 6.00% $7,508
    Regions Bank 6 6.29% $7,949
    Prosperity Home Mortgage, LLC 6 6.39% $6,351
    MOVEMENT MORTGAGE, LLC 6 6.40% $7,928
    FIRST COMMUNITY MORTGAGE, INC. 6 6.31% $6,127
    SouthPoint Bank 5 5.53% $3,963
    Plains Commerce Bank 5 6.48% $5,086
    BancorpSouth 4 5.56% $7,691
    Trustmark National Bank 4 5.78% $6,132
    South State Bank 4 5.72% $7,356
    FBC MORTGAGE, LLC 4 5.43% $5,344
    FirstBank 4 6.19% $8,087
    EVERETT FINANCIAL, INC. 3 6.67% $6,347
    THE MORTGAGE FIRM, INC. 3 5.92% $7,685
    Ameris Bank 3 6.50% $5,136
    Bank of England 3 6.29% $6,876
    GMFS LLC 3 6.50% $3,143
    GUARANTEED RATE, INC. 3 6.57% $5,587
    NEWREZ LLC 3 6.42% $4,741
    MORIA DEVELOPMENT, INC. 3 5.67% $7,665
    HUNT MORTGAGE CORPORATION 3 6.04% $7,245
    Magnolia Bank 3 6.46% $6,080
    LOANDEPOT.COM, LLC 3 6.33% $6,839
    Synovus Bank 2 6.13% $7,537
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.25% $5,485
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.50% $5,974
    Cornerstone First Mortgage, Inc 2 6.56% $5,404
    First Federal Bank, A FSB 2 5.94% $8,119
    Ixonia Bank 2 7.63% $5,963
    LEADERONE FINANCIAL CORPORATION 2 6.44% $5,701
    Princeton Mortgage Corporation 2 5.88% $6,855
    NORWICH COMMERCIAL GROUP, INC. 1 6.25% $6,427
    MORTGAGE INVESTORS GROUP, INC. 1 5.99% $5,188
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.50% $7,663
    Presidential Bank, FSB 1 6.50% $7,083
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.75% $5,825
    Mortgage Assurance Inc. 1 6.75% $3,874
    First Horizon Bank 1 6.13% $6,322
    FIRST COLONY MORTGAGE CORPORATION 1 6.13% $6,209
    EVANSVILLE TEACHERS 1 5.88% $5,309
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.25% $7,102
    EMM LOANS LLC 1 6.63% $4,100
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $5,626
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.63% $6,223
    The Loan Store, Inc. 1 5.50% $8,091
    BROKER SOLUTIONS, INC. 1 5.75% $8,760
    TOWNE MORTGAGE COMPANY 1 6.25% $6,499
    BankPlus 1 5.63% $3,126
    AVADIAN 1 5.75% $7,376
    Assurance Financial Group, L.L.C. 1 6.87% $5,319
    Mortgage Research Center, LLC 1 7.13% $1,599

    The top Birmingham USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 48 USDA loans originated. Their average total fees are $5,107, which is $431 lower than the next largest lender, Hamilton Mortgage Corporation.

    The lowest fee Birmingham USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($5,107), Hamilton Mortgage Corporation ($5,538), GUILD MORTGAGE COMPANY ($6,371), UNITED WHOLESALE MORTGAGE, LLC ($8,005) and UNION HOME MORTGAGE CORP. ($8,799).

    The lowest rate Birmingham USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.69%), UNITED WHOLESALE MORTGAGE, LLC (5.97%), GUILD MORTGAGE COMPANY (6.12%), STOCKTON MORTGAGE CORPORATION (6.29%) and UNION HOME MORTGAGE CORP. (6.33%).