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 63 lenders originated 249 USDA loans during 2023. The total origination value was $52,205,000, with an average USDA loan value of $209,659.

    Birmingham USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Birmingham averaged 6.63% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Birmingham's average USDA mortgage closing costs are $4,631.

    The average rate for the prior week (2025-02-07) was 6.49% and one month ago for the week of 2025-01-10, the average rate was 6.64%.

    The average rate one year ago was 6.43%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.54%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Hamilton Mortgage Corporation 30 6.54% $6,359
    DHI MORTGAGE COMPANY, LTD. 19 5.18% $5,238
    UNITED WHOLESALE MORTGAGE, LLC 17 6.16% $6,342
    Prosperity Home Mortgage, LLC 16 6.54% $5,428
    Renasant Bank 9 5.96% $8,826
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.11% $6,600
    CORNERSTONE HOME LENDING, INC. 7 6.43% $8,395
    SouthPoint Bank 7 6.16% $4,682
    DAS Acquisition Company, LLC 6 6.83% $7,469
    MOVEMENT MORTGAGE, LLC 6 5.83% $6,837
    Regions Bank 6 5.81% $6,886
    FBC MORTGAGE, LLC 6 6.38% $8,122
    TJC Mortgage, Inc. 6 6.19% $5,876
    Ameris Bank 5 6.45% $5,504
    GUILD MORTGAGE COMPANY 5 6.33% $8,380
    FirstBank 5 6.20% $6,159
    LOANDEPOT.COM, LLC 4 6.25% $6,088
    Trustmark National Bank 4 5.94% $5,967
    Cornerstone First Mortgage, Inc 4 6.88% $6,877
    Bank of England 4 6.19% $7,537
    AMERICAN FINANCIAL NETWORK, INC. 3 6.29% $9,718
    NEWREZ LLC 3 6.35% $8,365
    First Federal Bank, A FSB 3 5.83% $22,039
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.58% $7,830
    HOMESTAR FINANCIAL CORPORATION 3 5.88% $6,258
    GMFS LLC 2 6.06% $3,180
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.81% $3,556
    STOCKTON MORTGAGE CORPORATION 2 6.50% $8,727
    Northpointe Bank 2 5.94% $6,699
    THE MORTGAGE FIRM, INC. 2 6.56% $8,309
    HOMEOWNERS FINANCIAL GROUP USA, LLC 2 7.25% $8,098
    FIRST COMMUNITY MORTGAGE, INC. 2 5.63% $5,848
    CMG MORTGAGE, INC. 2 6.25% $7,912
    INSPIRE HOME LOANS INC. 2 5.63% $5,696
    RELIANCE FIRST CAPITAL, LLC 2 6.25% $3,931
    Synovus Bank 2 5.88% $8,879
    Plains Commerce Bank 2 5.94% $5,051
    BROKER SOLUTIONS, INC. 2 7.13% $6,168
    MORTGAGE INVESTORS GROUP, INC. 1 6.25% $5,522
    AVADIAN 1 6.63% $5,017
    BAYSHORE MORTGAGE FUNDING, LLC 1 8.75% $6,613
    CANOPY MORTGAGE, LLC 1 6.13% $10,718
    Citizens Bank 1 5.63% $5,224
    EVANSVILLE TEACHERS 1 6.50% $4,728
    EVERETT FINANCIAL, INC. 1 6.63% $5,596
    First Federal Bank 1 6.00% $4,400
    Flagstar Bank, FSB 1 7.00% $6,251
    Goldwater Bank, N.A. 1 6.50% $8,850
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.25% $6,093
    HUNT MORTGAGE CORPORATION 1 6.63% $5,339
    Ixonia Bank 1 7.13% $5,864
    Legends Bank 1 7.13% $3,655
    MICHIGAN MUTUAL, INC. 1 6.13% $10,008
    ACADEMY MORTGAGE CORPORATION 1 6.63% $2,090
    Mortgage Research Center, LLC 1 7.63% $2,005
    PLAZA HOME MORTGAGE, INC. 1 6.25% $6,339
    Princeton Mortgage Corporation 1 6.63% $5,204
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 5.88% $5,973
    SUCCESS MORTGAGE PARTNERS, INC. 1 5.63% $9,144
    SUN WEST MORTGAGE COMPANY, INC. 1 6.63% $4,743
    THRIVE MORTGAGE, LLC 1 6.13% $5,520
    UNION HOME MORTGAGE CORP. 1 7.00% $8,576
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.63% $4,284

    The top Birmingham USDA lender as defined by loan originations is Hamilton Mortgage Corporation, with 30 USDA loans originated. Their average total fees are $6,359, which is $1,121 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Birmingham USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($5,238), Prosperity Home Mortgage, LLC ($5,428), UNITED WHOLESALE MORTGAGE, LLC ($6,342), Hamilton Mortgage Corporation ($6,359) and .

    The lowest rate Birmingham USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.18%), UNITED WHOLESALE MORTGAGE, LLC (6.16%), Prosperity Home Mortgage, LLC (6.54%), Hamilton Mortgage Corporation (6.54%) and .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Birmingham (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 $199,900 (5.9%) $268,518 (8.0%) 0.77 4,618
    2018-02-01 $204,800 (7.8%) $271,347 (6.6%) 0.77 4,521
    2018-03-01 $218,900 (9.5%) $284,975 (7.9%) 0.79 4,429
    2018-04-01 $228,528 (8.9%) $295,582 (8.6%) 0.79 4,503
    2018-05-01 $232,400 (8.1%) $303,020 (8.1%) 0.80 4,632
    2018-06-01 $230,000 (6.3%) $304,604 (8.3%) 0.79 4,715
    2018-07-01 $234,421 (9.1%) $302,223 (8.7%) 0.80 4,849
    2018-08-01 $234,280 (11.5%) $302,470 (9.9%) 0.80 4,919
    2018-09-01 $227,855 (8.6%) $301,041 (11.0%) 0.77 4,864
    2018-10-01 $222,888 (6.2%) $294,686 (7.6%) 0.77 4,825
    2018-11-01 $224,900 (9.7%) $298,673 (10.9%) 0.78 4,646
    2018-12-01 $225,000 (10.7%) $298,886 (11.9%) 0.79 4,329
    2019-01-01 $226,894 (13.5%) $297,592 (10.8%) 0.80 4,033
    2019-02-01 $236,950 (15.7%) $311,666 (14.9%) 0.82 3,969
    2019-03-01 $244,186 (11.6%) $321,527 (12.8%) 0.83 3,946
    2019-04-01 $252,400 (10.5%) $331,900 (12.3%) 0.82 3,956
    2019-05-01 $259,211 (11.5%) $334,511 (10.4%) 0.83 3,983
    2019-06-01 $259,900 (13.0%) $334,666 (9.9%) 0.83 4,196
    2019-07-01 $260,075 (10.9%) $333,956 (10.5%) 0.84 4,321
    2019-08-01 $262,809 (12.2%) $331,893 (9.7%) 0.85 4,319
    2019-09-01 $261,173 (14.6%) $329,260 (9.4%) 0.85 4,272
    2019-10-01 $259,900 (16.6%) $327,265 (11.1%) 0.85 4,210
    2019-11-01 $257,940 (14.7%) $324,216 (8.6%) 0.85 4,003
    2019-12-01 $249,900 (11.1%) $320,829 (7.3%) 0.85 3,688
    2020-01-01 $249,900 (10.1%) $322,296 (8.3%) 0.85 3,399
    2020-02-01 $256,278 (8.2%) $328,693 (5.5%) 0.85 3,376
    2020-03-01 $260,375 (6.6%) $338,719 (5.4%) 0.84 3,303
    2020-04-01 $260,000 (3.0%) $335,790 (1.2%) 0.83 3,361
    2020-05-01 $265,450 (2.4%) $347,834 (4.0%) 0.82 3,293
    2020-06-01 $272,933 (5.0%) $356,796 (6.6%) 0.82 3,115
    2020-07-01 $273,702 (5.2%) $355,346 (6.4%) 0.81 2,946
    2020-08-01 $269,950 (2.7%) $355,637 (7.2%) 0.79 2,791
    2020-09-01 $270,200 (3.5%) $354,987 (7.8%) 0.78 2,690
    2020-10-01 $259,650 (-0.1%) $347,497 (6.2%) 0.76 2,728
    2020-11-01 $256,448 (-0.6%) $343,730 (6.0%) 0.76 2,616
    2020-12-01 $255,575 (2.3%) $342,169 (6.7%) 0.78 2,413
    2021-01-01 $257,375 (3.0%) $341,038 (5.8%) 0.78 2,189
    2021-02-01 $259,400 (1.2%) $349,727 (6.4%) 0.77 1,835
    2021-03-01 $263,875 (1.3%) $363,247 (7.2%) 0.77 1,766
    2021-04-01 $275,052 (5.8%) $381,878 (13.7%) 0.76 1,666
    2021-05-01 $279,900 (5.4%) $384,020 (10.4%) 0.74 1,549
    2021-06-01 $272,500 (-0.2%) $372,022 (4.3%) 0.73 1,652
    2021-07-01 $269,900 (-1.4%) $364,039 (2.5%) 0.73 1,956
    2021-08-01 $272,500 (0.9%) $364,359 (2.5%) 0.74 2,058
    2021-09-01 $273,716 (1.3%) $366,924 (3.4%) 0.73 1,992
    2021-10-01 $282,700 (8.9%) $372,861 (7.3%) 0.76 1,940
    2021-11-01 $275,250 (7.3%) $371,925 (8.2%) 0.75 1,795
    2021-12-01 $271,556 (6.3%) $368,307 (7.6%) 0.74 1,665
    2022-01-01 $264,400 (2.7%) $360,956 (5.8%) 0.72 1,517
    2022-02-01 $259,000 (-0.2%) $366,644 (4.8%) 0.68 1,511
    2022-03-01 $260,725 (-1.2%) $371,431 (2.3%) 0.66 1,500
    2022-04-01 $275,000 (0.0%) $387,009 (1.3%) 0.66 1,590
    2022-05-01 $289,900 (3.6%) $401,213 (4.5%) 0.67 1,725
    2022-06-01 $295,075 (8.3%) $399,480 (7.4%) 0.67 2,057
    2022-07-01 $299,000 (10.8%) $389,957 (7.1%) 0.67 2,487
    2022-08-01 $285,560 (4.8%) $376,406 (3.3%) 0.66 2,600
    2022-09-01 $281,548 (2.9%) $369,702 (0.8%) 0.66 2,600
    2022-10-01 $279,900 (-1.0%) $368,719 (-1.1%) 0.66 2,786
    2022-11-01 $275,285 (0.0%) $361,653 (-2.8%) 0.66 2,905
    2022-12-01 $274,900 (1.2%) $358,231 (-2.7%) 0.68 2,791
    2023-01-01 $271,542 (2.7%) $358,663 (-0.6%) 0.67 2,601
    2023-02-01 $273,700 (5.7%) $362,620 (-1.1%) 0.65 2,455
    2023-03-01 $279,450 (7.2%) $370,556 (-0.2%) 0.66 2,435
    2023-04-01 $289,425 (5.3%) $383,475 (-0.9%) 0.66 2,383
    2023-05-01 $297,700 (2.7%) $396,014 (-1.3%) 0.67 2,410
    2023-06-01 $301,087 (2.0%) $397,473 (-0.5%) 0.67 2,519
    2023-07-01 $299,000 (0.0%) $389,864 (0.0%) 0.68 2,754
    2023-08-01 $297,250 (4.1%) $387,676 (3.0%) 0.68 2,894
    2023-09-01 $299,000 (6.2%) $380,455 (2.9%) 0.70 3,017
    2023-10-01 $294,950 (5.4%) $379,654 (3.0%) 0.69 3,216
    2023-11-01 $289,950 (5.3%) $379,770 (5.0%) 0.70 3,295
    2023-12-01 $286,500 (4.2%) $377,177 (5.3%) 0.71 3,177
    2024-01-01 $282,998 (4.2%) $371,741 (3.7%) 0.70 3,030
    2024-02-01 $284,269 (3.9%) $370,311 (2.1%) 0.69 3,069
    2024-03-01 $289,900 (3.7%) $378,476 (2.1%) 0.68 3,136
    2024-04-01 $295,371 (2.1%) $383,023 (-0.1%) 0.69 3,287
    2024-05-01 $299,900 (0.7%) $390,287 (-1.5%) 0.68 3,456
    2024-06-01 $300,000 (-0.4%) $392,852 (-1.2%) 0.68 3,565
    2024-07-01 $301,425 (0.8%) $390,525 (0.2%) 0.69 3,742
    2024-08-01 $300,000 (0.9%) $391,878 (1.1%) 0.71 3,799
    2024-09-01 $299,950 (0.3%) $390,248 (2.6%) 0.71 3,901
    2024-10-01 $299,900 (1.7%) $387,037 (1.9%) 0.71 3,991
    2024-11-01 $295,000 (1.7%) $383,034 (0.9%) 0.72 3,943
    2024-12-01 $287,950 (0.5%) $375,219 (-0.5%) 0.72 3,752
    2025-01-01 $284,925 (0.7%) $369,298 (-0.7%) 0.00 3,563
    Birmingham's median listing price for 2025-01-01 was $284,925, a difference of $1,927 (0.7%) versus the prior year and $-3,025 versus the prior month.

    Birmingham's median listing price comes in at 0% of the national average.

    Birmingham's average listing price for 2025-01-01 was $369,298, a difference of $-2,443 (-0.7%) versus the prior year and $-5,921 versus the prior month.

    For the 2025-01-01 period, Birmingham had 3,563 MLS listings, a difference of -189 listings (-5%) versus the prior month and 533 listings (18%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Birmingham (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 93 days 1,915 sqft
    2018-02-01 86 days 1,913 sqft
    2018-03-01 62 days 1,874 sqft
    2018-04-01 59 days 1,880 sqft
    2018-05-01 54 days 1,899 sqft
    2018-06-01 55 days 1,908 sqft
    2018-07-01 59 days 1,934 sqft
    2018-08-01 60 days 1,934 sqft
    2018-09-01 63 days 1,900 sqft
    2018-10-01 69 days 1,861 sqft
    2018-11-01 72 days 1,865 sqft
    2018-12-01 79 days 1,880 sqft
    2019-01-01 85 days 1,883 sqft
    2019-02-01 73 days 1,906 sqft
    2019-03-01 62 days 1,940 sqft
    2019-04-01 55 days 1,967 sqft
    2019-05-01 51 days 1,981 sqft
    2019-06-01 53 days 1,973 sqft
    2019-07-01 54 days 1,967 sqft
    2019-08-01 57 days 1,968 sqft
    2019-09-01 62 days 1,959 sqft
    2019-10-01 66 days 1,955 sqft
    2019-11-01 72 days 1,966 sqft
    2019-12-01 80 days 1,950 sqft
    2020-01-01 81 days 2,001 sqft
    2020-02-01 69 days 2,111 sqft
    2020-03-01 59 days 2,142 sqft
    2020-04-01 61 days 2,129 sqft
    2020-05-01 63 days 2,125 sqft
    2020-06-01 62 days 2,127 sqft
    2020-07-01 57 days 2,153 sqft
    2020-08-01 54 days 2,138 sqft
    2020-09-01 54 days 2,116 sqft
    2020-10-01 51 days 2,055 sqft
    2020-11-01 55 days 2,025 sqft
    2020-12-01 66 days 1,989 sqft
    2021-01-01 66 days 1,967 sqft
    2021-02-01 47 days 1,943 sqft
    2021-03-01 42 days 1,968 sqft
    2021-04-01 37 days 2,002 sqft
    2021-05-01 40 days 2,010 sqft
    2021-06-01 36 days 1,948 sqft
    2021-07-01 33 days 1,920 sqft
    2021-08-01 35 days 1,927 sqft
    2021-09-01 41 days 1,909 sqft
    2021-10-01 50 days 1,920 sqft
    2021-11-01 57 days 1,901 sqft
    2021-12-01 55 days 1,878 sqft
    2022-01-01 64 days 1,816 sqft
    2022-02-01 38 days 1,811 sqft
    2022-03-01 32 days 1,802 sqft
    2022-04-01 30 days 1,850 sqft
    2022-05-01 31 days 1,846 sqft
    2022-06-01 29 days 1,872 sqft
    2022-07-01 30 days 1,882 sqft
    2022-08-01 37 days 1,860 sqft
    2022-09-01 45 days 1,851 sqft
    2022-10-01 46 days 1,848 sqft
    2022-11-01 52 days 1,846 sqft
    2022-12-01 63 days 1,817 sqft
    2023-01-01 68 days 1,801 sqft
    2023-02-01 63 days 1,801 sqft
    2023-03-01 51 days 1,820 sqft
    2023-04-01 45 days 1,840 sqft
    2023-05-01 43 days 1,898 sqft
    2023-06-01 43 days 1,924 sqft
    2023-07-01 44 days 1,927 sqft
    2023-08-01 44 days 1,929 sqft
    2023-09-01 49 days 1,920 sqft
    2023-10-01 51 days 1,911 sqft
    2023-11-01 53 days 1,884 sqft
    2023-12-01 61 days 1,864 sqft
    2024-01-01 71 days 1,827 sqft
    2024-02-01 65 days 1,820 sqft
    2024-03-01 50 days 1,834 sqft
    2024-04-01 46 days 1,850 sqft
    2024-05-01 43 days 1,858 sqft
    2024-06-01 45 days 1,865 sqft
    2024-07-01 50 days 1,880 sqft
    2024-08-01 50 days 1,898 sqft
    2024-09-01 54 days 1,899 sqft
    2024-10-01 57 days 1,902 sqft
    2024-11-01 59 days 1,869 sqft
    2024-12-01 69 days 1,832 sqft
    2025-01-01 0 days 1,823 sqft
    Birmingham's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Birmingham's median square footage for active listings during the 2025-01-01 period was 1,823 sqft. One year prior, the average listing was 1,827 sqft.