Columbus USDA Loan Rates, Closing Costs & Stats

Columbus, MS

  • 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.

    Columbus's 16 lenders originated 61 USDA loans during 2023. The total origination value was $9,835,000, with an average USDA loan value of $161,230.

    Columbus USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Columbus averaged -0.02% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    Columbus's average USDA mortgage closing costs are $5,003.

    The average rate for the prior week (2024-11-08) was 6.23% and one month ago for the week of 2024-10-11, the average rate was 5.99%.

    The average rate one year ago was 7.32%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.1%.

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

    Columbus 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 Columbus level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Flagstar Bank, FSB 16 6.37% $9,177
    Renasant Bank 10 6.29% $5,895
    CARDINAL FINANCIAL 8 5.92% $8,947
    FIRST COMMUNITY MORTGAGE, INC. 6 6.85% $6,242
    LEADERONE FINANCIAL CORPORATION 5 6.98% $6,565
    BancorpSouth 3 6.42% $5,328
    Trustmark National Bank 3 6.33% $5,122
    Magnolia Bank 2 6.56% $4,867
    MOVEMENT MORTGAGE, LLC 1 7.25% $5,056
    Paramount Residential Mortgage Group, Inc. 1 6.50% $8,757
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.75% $6,573
    CIS Financial Services, Inc. 1 6.13% $6,077
    STOCKTON MORTGAGE CORPORATION 1 7.13% $7,668
    The Citizens National Bank of Meridian 1 6.38% $3,843
    TOWNE MORTGAGE COMPANY 1 6.13% $8,276
    GMFS LLC 1 6.75% $6,241

    The top Columbus USDA lender as defined by loan originations is Flagstar Bank, FSB, with 16 USDA loans originated. Their average total fees are $9,177, which is $3,283 higher than the next largest lender, Renasant Bank.

    The lowest fee Columbus USDA lenders (with over 10 loans originated) are Renasant Bank ($5,895), Flagstar Bank, FSB ($9,177), .

    The lowest rate Columbus USDA lenders (with over 10 loans originated) are Renasant Bank (6.29%), Flagstar Bank, FSB (6.37%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Columbus (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 $132,425 (3.7%) $166,898 (-3.9%) 0.00 223
    2018-02-01 $120,000 (-11.4%) $162,861 (-11.4%) 0.00 230
    2018-03-01 $129,900 (-7.2%) $163,102 (-12.4%) 0.00 238
    2018-04-01 $134,950 (0.0%) $171,143 (-5.1%) 0.00 267
    2018-05-01 $139,900 (4.8%) $177,683 (-1.4%) 0.00 259
    2018-06-01 $149,900 (11.3%) $181,018 (0.1%) 0.00 267
    2018-07-01 $154,900 (19.2%) $186,639 (5.3%) 0.00 259
    2018-08-01 $161,488 (22.9%) $190,684 (10.2%) 0.00 238
    2018-09-01 $160,950 (23.9%) $193,104 (14.1%) 0.00 239
    2018-10-01 $159,125 (21.4%) $192,089 (10.6%) 0.00 243
    2018-11-01 $151,013 (11.9%) $193,311 (12.4%) 0.00 235
    2018-12-01 $154,500 (14.5%) $193,874 (12.9%) 0.00 226
    2019-01-01 $154,350 (16.6%) $188,268 (12.8%) 0.00 228
    2019-02-01 $159,450 (32.9%) $193,405 (18.8%) 0.00 224
    2019-03-01 $162,814 (25.3%) $204,236 (25.2%) 0.00 219
    2019-04-01 $169,600 (25.7%) $213,258 (24.6%) 0.00 218
    2019-05-01 $159,900 (14.3%) $214,237 (20.6%) 0.00 218
    2019-06-01 $168,750 (12.6%) $226,867 (25.3%) 0.00 213
    2019-07-01 $174,450 (12.6%) $234,285 (25.5%) 0.00 209
    2019-08-01 $172,168 (6.6%) $232,190 (21.8%) 0.00 207
    2019-09-01 $175,420 (9.0%) $231,680 (20.0%) 0.00 206
    2019-10-01 $176,364 (10.8%) $231,340 (20.4%) 0.00 203
    2019-11-01 $175,950 (16.5%) $232,584 (20.3%) 0.00 193
    2019-12-01 $177,975 (15.2%) $237,330 (22.4%) 0.00 189
    2020-01-01 $177,975 (15.3%) $231,079 (22.7%) 0.00 191
    2020-02-01 $197,645 (24.0%) $239,507 (23.8%) 0.00 188
    2020-03-01 $201,698 (23.9%) $242,501 (18.7%) 0.00 191
    2020-04-01 $199,800 (17.8%) $242,247 (13.6%) 0.00 189
    2020-05-01 $198,888 (24.4%) $245,103 (14.4%) 0.00 177
    2020-06-01 $203,197 (20.4%) $255,620 (12.7%) 0.00 164
    2020-07-01 $208,675 (19.6%) $255,877 (9.2%) 0.00 159
    2020-08-01 $218,000 (26.6%) $255,138 (9.9%) 0.00 156
    2020-09-01 $219,350 (25.0%) $255,442 (10.3%) 0.00 147
    2020-10-01 $224,500 (27.3%) $259,584 (12.2%) 0.00 144
    2020-11-01 $187,950 (6.8%) $240,247 (3.3%) 0.00 147
    2020-12-01 $198,500 (11.5%) $244,548 (3.0%) 0.00 137
    2021-01-01 $195,900 (10.1%) $231,153 (0.0%) 0.00 128
    2021-02-01 $188,700 (-4.5%) $234,711 (-2.0%) 0.00 110
    2021-03-01 $189,900 (-5.9%) $237,425 (-2.1%) 0.00 101
    2021-04-01 $197,725 (-1.0%) $255,906 (5.6%) 0.00 88
    2021-05-01 $209,900 (5.5%) $266,316 (8.7%) 0.00 80
    2021-06-01 $194,975 (-4.1%) $266,079 (4.1%) 0.00 76
    2021-07-01 $194,900 (-6.6%) $251,268 (-1.8%) 0.00 75
    2021-08-01 $189,750 (-13.0%) $247,557 (-3.0%) 0.00 82
    2021-09-01 $207,400 (-5.5%) $254,648 (-0.3%) 0.00 82
    2021-10-01 $199,900 (-11.0%) $254,293 (-2.0%) 0.00 87
    2021-11-01 $216,175 (15.0%) $275,838 (14.8%) 0.00 95
    2021-12-01 $199,950 (0.7%) $274,688 (12.3%) 0.00 101
    2022-01-01 $197,500 (0.8%) $311,273 (34.7%) 0.00 92
    2022-02-01 $196,000 (3.9%) $312,925 (33.3%) 0.00 82
    2022-03-01 $215,700 (13.6%) $322,171 (35.7%) 0.00 73
    2022-04-01 $259,900 (31.5%) $340,676 (33.1%) 0.00 87
    2022-05-01 $247,450 (17.9%) $328,959 (23.5%) 0.00 96
    2022-06-01 $231,250 (18.6%) $318,640 (19.8%) 0.00 105
    2022-07-01 $229,450 (17.7%) $291,630 (16.1%) 0.00 130
    2022-08-01 $229,600 (21.0%) $293,839 (18.7%) 0.00 128
    2022-09-01 $216,000 (4.2%) $281,847 (10.7%) 0.00 123
    2022-10-01 $217,000 (8.6%) $286,923 (12.8%) 0.00 131
    2022-11-01 $209,450 (-3.1%) $274,552 (-0.5%) 0.00 145
    2022-12-01 $199,000 (-0.5%) $272,951 (-0.6%) 0.00 134
    2023-01-01 $209,000 (5.8%) $286,818 (-7.9%) 0.00 120
    2023-02-01 $204,450 (4.3%) $286,256 (-8.5%) 0.00 122
    2023-03-01 $204,995 (-5.0%) $296,072 (-8.1%) 0.00 118
    2023-04-01 $224,950 (-13.5%) $306,941 (-9.9%) 0.00 108
    2023-05-01 $228,625 (-7.6%) $289,949 (-11.9%) 0.00 110
    2023-06-01 $217,323 (-6.0%) $291,185 (-8.6%) 0.00 101
    2023-07-01 $224,500 (-2.2%) $299,771 (2.8%) 0.00 99
    2023-08-01 $257,000 (11.9%) $304,135 (3.5%) 0.00 106
    2023-09-01 $249,450 (15.5%) $286,745 (1.7%) 0.00 119
    2023-10-01 $249,900 (15.2%) $301,746 (5.2%) 0.00 131
    2023-11-01 $247,400 (18.1%) $302,687 (10.3%) 0.00 131
    2023-12-01 $252,450 (26.9%) $307,848 (12.8%) 0.00 134
    2024-01-01 $246,875 (18.1%) $268,069 (-6.5%) 0.00 136
    2024-02-01 $248,100 (21.4%) $269,823 (-5.7%) 0.00 131
    2024-03-01 $244,900 (19.5%) $266,685 (-9.9%) 0.00 125
    2024-04-01 $236,500 (5.1%) $260,046 (-15.3%) 0.00 138
    2024-05-01 $231,250 (1.2%) $259,261 (-10.6%) 0.00 137
    2024-06-01 $227,400 (4.6%) $258,445 (-11.2%) 0.00 148
    2024-07-01 $239,125 (6.5%) $265,444 (-11.5%) 0.00 146
    2024-08-01 $236,250 (-8.1%) $272,140 (-10.5%) 0.00 145
    2024-09-01 $254,450 (2.0%) $283,390 (-1.2%) 0.00 148
    2024-10-01 $250,975 (0.4%) $281,527 (-6.7%) 0.00 144
    Columbus's median listing price for 2024-10-01 was $250,975, a difference of $1,075 (0.4%) versus the prior year and $-3,475 versus the prior month.

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

    Columbus's average listing price for 2024-10-01 was $281,527, a difference of $-20,219 (-6.7%) versus the prior year and $-1,863 versus the prior month.

    For the 2024-10-01 period, Columbus had 144 MLS listings, a difference of -4 listings (-3%) versus the prior month and 13 listings (10%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Columbus (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,859 sqft
    2018-02-01 0 days 1,806 sqft
    2018-03-01 0 days 1,819 sqft
    2018-04-01 0 days 1,808 sqft
    2018-05-01 0 days 1,830 sqft
    2018-06-01 0 days 1,829 sqft
    2018-07-01 0 days 1,837 sqft
    2018-08-01 0 days 1,850 sqft
    2018-09-01 0 days 1,889 sqft
    2018-10-01 0 days 1,892 sqft
    2018-11-01 0 days 1,878 sqft
    2018-12-01 0 days 1,897 sqft
    2019-01-01 0 days 1,874 sqft
    2019-02-01 0 days 1,896 sqft
    2019-03-01 0 days 1,967 sqft
    2019-04-01 0 days 2,019 sqft
    2019-05-01 0 days 2,000 sqft
    2019-06-01 0 days 1,965 sqft
    2019-07-01 0 days 2,044 sqft
    2019-08-01 0 days 2,007 sqft
    2019-09-01 0 days 2,018 sqft
    2019-10-01 0 days 2,047 sqft
    2019-11-01 0 days 2,162 sqft
    2019-12-01 0 days 2,176 sqft
    2020-01-01 0 days 2,100 sqft
    2020-02-01 0 days 2,181 sqft
    2020-03-01 0 days 2,181 sqft
    2020-04-01 0 days 2,159 sqft
    2020-05-01 0 days 2,177 sqft
    2020-06-01 0 days 2,296 sqft
    2020-07-01 0 days 2,269 sqft
    2020-08-01 0 days 2,322 sqft
    2020-09-01 0 days 2,323 sqft
    2020-10-01 0 days 2,330 sqft
    2020-11-01 0 days 2,161 sqft
    2020-12-01 0 days 2,152 sqft
    2021-01-01 0 days 2,109 sqft
    2021-02-01 0 days 2,107 sqft
    2021-03-01 0 days 2,202 sqft
    2021-04-01 0 days 2,335 sqft
    2021-05-01 0 days 2,300 sqft
    2021-06-01 0 days 2,267 sqft
    2021-07-01 0 days 2,208 sqft
    2021-08-01 0 days 2,240 sqft
    2021-09-01 0 days 2,236 sqft
    2021-10-01 0 days 2,247 sqft
    2021-11-01 0 days 2,162 sqft
    2021-12-01 0 days 2,064 sqft
    2022-01-01 0 days 2,175 sqft
    2022-02-01 0 days 2,098 sqft
    2022-03-01 0 days 2,241 sqft
    2022-04-01 0 days 2,200 sqft
    2022-05-01 0 days 2,193 sqft
    2022-06-01 0 days 2,144 sqft
    2022-07-01 0 days 2,120 sqft
    2022-08-01 0 days 2,092 sqft
    2022-09-01 0 days 2,090 sqft
    2022-10-01 0 days 2,030 sqft
    2022-11-01 0 days 2,001 sqft
    2022-12-01 0 days 1,979 sqft
    2023-01-01 0 days 1,970 sqft
    2023-02-01 0 days 1,979 sqft
    2023-03-01 0 days 2,036 sqft
    2023-04-01 0 days 2,080 sqft
    2023-05-01 0 days 2,058 sqft
    2023-06-01 0 days 1,977 sqft
    2023-07-01 0 days 1,872 sqft
    2023-08-01 0 days 1,993 sqft
    2023-09-01 0 days 2,004 sqft
    2023-10-01 0 days 2,022 sqft
    2023-11-01 0 days 2,039 sqft
    2023-12-01 0 days 2,048 sqft
    2024-01-01 0 days 2,056 sqft
    2024-02-01 0 days 2,060 sqft
    2024-03-01 0 days 2,051 sqft
    2024-04-01 0 days 1,983 sqft
    2024-05-01 0 days 1,947 sqft
    2024-06-01 0 days 1,959 sqft
    2024-07-01 0 days 2,005 sqft
    2024-08-01 0 days 1,979 sqft
    2024-09-01 0 days 2,070 sqft
    2024-10-01 0 days 2,009 sqft
    Columbus's median listing age (time on market) for 2024-10-01 was 0 days.

    Columbus's median square footage for active listings during the 2024-10-01 period was 2,009 sqft. One year prior, the average listing was 2,022 sqft.