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 6.69% for the week of 2025-05-23, compared to the national average (all USDA variants) of 6.433% for the same period.

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

    The average rate for the prior week (2025-05-16) was 6.43% and one month ago for the week of 2025-04-18, the average rate was 6.61%.

    The average rate one year ago was 6.68%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.12%.

    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%).

    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%) 0.74 4,618
    2018-02-01 $204,800 (7.8%) $271,347 (6.6%) 0.74 4,521
    2018-03-01 $218,900 (9.5%) $284,975 (7.9%) 0.77 4,429
    2018-04-01 $228,528 (8.9%) $295,582 (8.6%) 0.77 4,503
    2018-05-01 $232,400 (8.1%) $303,020 (8.1%) 0.78 4,632
    2018-06-01 $230,000 (6.3%) $304,604 (8.3%) 0.77 4,715
    2018-07-01 $234,421 (9.1%) $302,223 (8.7%) 0.78 4,849
    2018-08-01 $234,280 (11.5%) $302,470 (9.9%) 0.78 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%) 0.75 4,825
    2018-11-01 $224,900 (9.7%) $298,673 (10.9%) 0.76 4,646
    2018-12-01 $225,000 (10.7%) $298,886 (11.9%) 0.78 4,329
    2019-01-01 $226,894 (13.5%) $297,592 (10.8%) 0.78 4,033
    2019-02-01 $236,950 (15.7%) $311,666 (14.9%) 0.80 3,969
    2019-03-01 $244,186 (11.6%) $321,527 (12.8%) 0.80 3,946
    2019-04-01 $252,400 (10.5%) $331,900 (12.3%) 0.80 3,956
    2019-05-01 $259,211 (11.5%) $334,511 (10.4%) 0.81 3,983
    2019-06-01 $259,900 (13.0%) $334,666 (9.9%) 0.81 4,196
    2019-07-01 $260,075 (10.9%) $333,956 (10.5%) 0.81 4,321
    2019-08-01 $262,809 (12.2%) $331,893 (9.7%) 0.83 4,319
    2019-09-01 $261,173 (14.6%) $329,260 (9.4%) 0.84 4,272
    2019-10-01 $259,900 (16.6%) $327,265 (11.1%) 0.84 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%) 0.83 3,688
    2020-01-01 $249,900 (10.1%) $322,296 (8.3%) 0.84 3,399
    2020-02-01 $256,278 (8.2%) $328,693 (5.5%) 0.84 3,376
    2020-03-01 $260,375 (6.6%) $338,719 (5.4%) 0.82 3,303
    2020-04-01 $260,000 (3.0%) $335,790 (1.2%) 0.81 3,361
    2020-05-01 $265,450 (2.4%) $347,834 (4.0%) 0.81 3,293
    2020-06-01 $272,933 (5.0%) $356,796 (6.6%) 0.80 3,115
    2020-07-01 $273,702 (5.2%) $355,346 (6.4%) 0.79 2,946
    2020-08-01 $269,950 (2.7%) $355,637 (7.2%) 0.77 2,791
    2020-09-01 $270,200 (3.5%) $354,987 (7.8%) 0.77 2,690
    2020-10-01 $259,650 (-0.1%) $347,497 (6.2%) 0.74 2,728
    2020-11-01 $256,448 (-0.6%) $343,730 (6.0%) 0.75 2,616
    2020-12-01 $255,575 (2.3%) $342,169 (6.7%) 0.76 2,413
    2021-01-01 $257,375 (3.0%) $341,038 (5.8%) 0.77 2,189
    2021-02-01 $259,400 (1.2%) $349,727 (6.4%) 0.76 1,835
    2021-03-01 $263,875 (1.3%) $363,247 (7.2%) 0.75 1,766
    2021-04-01 $275,052 (5.8%) $381,878 (13.7%) 0.74 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%) 0.72 1,652
    2021-07-01 $269,900 (-1.4%) $364,039 (2.5%) 0.71 1,956
    2021-08-01 $272,500 (0.9%) $364,359 (2.5%) 0.73 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%) 0.75 1,940
    2021-11-01 $275,250 (7.3%) $371,925 (8.2%) 0.74 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%) 0.71 1,517
    2022-02-01 $259,000 (-0.2%) $366,644 (4.8%) 0.67 1,511
    2022-03-01 $260,725 (-1.2%) $371,431 (2.3%) 0.65 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%) 0.66 1,725
    2022-06-01 $295,075 (8.3%) $399,480 (7.4%) 0.66 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%) 0.66 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%) 0.67 2,383
    2023-05-01 $297,700 (2.7%) $396,014 (-1.3%) 0.68 2,410
    2023-06-01 $301,087 (2.0%) $397,473 (-0.5%) 0.68 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%) 0.69 3,295
    2023-12-01 $286,500 (4.2%) $377,177 (5.3%) 0.70 3,177
    2024-01-01 $282,998 (4.2%) $371,741 (3.7%) 0.69 3,030
    2024-02-01 $284,269 (3.9%) $370,311 (2.1%) 0.68 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%) 0.70 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%) 0.71 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%) 0.71 3,563
    2025-02-01 $285,000 (0.3%) $374,321 (1.1%) 0.69 3,598
    2025-03-01 $285,000 (-1.7%) $384,357 (1.6%) 0.67 3,707
    2025-04-01 $299,900 (1.5%) $393,467 (2.7%) 0.70 3,884
    Birmingham's median listing price for 2025-04-01 was $299,900, a difference of $4,529 (1.5%) versus the prior year and $14,900 versus the prior month.

    Birmingham's median listing price comes in at 70% of the national average.

    Birmingham's average listing price for 2025-04-01 was $393,467, a difference of $10,444 (2.7%) versus the prior year and $9,110 versus the prior month.

    For the 2025-04-01 period, Birmingham had 3,884 MLS listings, a difference of 177 listings (5%) versus the prior month and 597 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 95 days 1,915 sqft
    2018-02-01 87 days 1,913 sqft
    2018-03-01 64 days 1,874 sqft
    2018-04-01 60 days 1,880 sqft
    2018-05-01 54 days 1,899 sqft
    2018-06-01 56 days 1,908 sqft
    2018-07-01 60 days 1,934 sqft
    2018-08-01 61 days 1,934 sqft
    2018-09-01 64 days 1,900 sqft
    2018-10-01 70 days 1,861 sqft
    2018-11-01 73 days 1,865 sqft
    2018-12-01 80 days 1,880 sqft
    2019-01-01 86 days 1,883 sqft
    2019-02-01 75 days 1,906 sqft
    2019-03-01 64 days 1,940 sqft
    2019-04-01 57 days 1,967 sqft
    2019-05-01 52 days 1,981 sqft
    2019-06-01 54 days 1,973 sqft
    2019-07-01 57 days 1,967 sqft
    2019-08-01 57 days 1,968 sqft
    2019-09-01 63 days 1,959 sqft
    2019-10-01 67 days 1,955 sqft
    2019-11-01 73 days 1,966 sqft
    2019-12-01 81 days 1,950 sqft
    2020-01-01 82 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 64 days 2,125 sqft
    2020-06-01 61 days 2,127 sqft
    2020-07-01 58 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 56 days 2,025 sqft
    2020-12-01 67 days 1,989 sqft
    2021-01-01 66 days 1,967 sqft
    2021-02-01 50 days 1,943 sqft
    2021-03-01 43 days 1,968 sqft
    2021-04-01 38 days 2,002 sqft
    2021-05-01 40 days 2,010 sqft
    2021-06-01 37 days 1,948 sqft
    2021-07-01 33 days 1,920 sqft
    2021-08-01 35 days 1,927 sqft
    2021-09-01 42 days 1,909 sqft
    2021-10-01 50 days 1,920 sqft
    2021-11-01 57 days 1,901 sqft
    2021-12-01 56 days 1,878 sqft
    2022-01-01 65 days 1,816 sqft
    2022-02-01 40 days 1,811 sqft
    2022-03-01 33 days 1,802 sqft
    2022-04-01 31 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 38 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 65 days 1,801 sqft
    2023-03-01 54 days 1,820 sqft
    2023-04-01 46 days 1,840 sqft
    2023-05-01 44 days 1,898 sqft
    2023-06-01 44 days 1,924 sqft
    2023-07-01 45 days 1,927 sqft
    2023-08-01 45 days 1,929 sqft
    2023-09-01 50 days 1,920 sqft
    2023-10-01 51 days 1,911 sqft
    2023-11-01 53 days 1,884 sqft
    2023-12-01 60 days 1,864 sqft
    2024-01-01 72 days 1,827 sqft
    2024-02-01 66 days 1,820 sqft
    2024-03-01 50 days 1,834 sqft
    2024-04-01 46 days 1,850 sqft
    2024-05-01 45 days 1,858 sqft
    2024-06-01 47 days 1,865 sqft
    2024-07-01 51 days 1,880 sqft
    2024-08-01 51 days 1,898 sqft
    2024-09-01 55 days 1,899 sqft
    2024-10-01 58 days 1,902 sqft
    2024-11-01 60 days 1,869 sqft
    2024-12-01 70 days 1,832 sqft
    2025-01-01 75 days 1,823 sqft
    2025-02-01 71 days 1,821 sqft
    2025-03-01 54 days 1,820 sqft
    2025-04-01 50 days 1,865 sqft
    Birmingham's median listing age (time on market) for 2025-04-01 was 50 days. This is 9% longer than the same period one year ago.

    Birmingham's median square footage for active listings during the 2025-04-01 period was 1,865 sqft. One year prior, the average listing was 1,850 sqft.