Daphne USDA Loan Rates, Closing Costs & Stats

DAPHNE-FAIRHOPE-FOLEY, 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.

    Daphne's 35 lenders originated 78 USDA loans during 2023. The total origination value was $20,120,000, with an average USDA loan value of $257,949.

    Daphne USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Daphne averaged 6.57% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Daphne's average USDA mortgage closing costs are $4,633.

    The average rate for the prior week (2024-04-12) was 6.63% and one month ago for the week of 2024-03-15, the average rate was 6.11%.

    The average rate one year ago was 6.25%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.92%.

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

    Daphne 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 Daphne level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 22 5.20% $4,900
    UNITED WHOLESALE MORTGAGE, LLC 6 6.01% $8,150
    SWBC MORTGAGE CORPORATION 4 6.44% $5,455
    EAGLE HOME MORTGAGE, LLC 3 4.95% $3,161
    Regions Bank 3 6.54% $6,152
    Hamilton Mortgage Corporation 2 5.56% $8,506
    EMBRACE HOME LOANS, INC. 2 6.75% $8,565
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.37% $6,844
    FirstTrust Home Loans, Inc. 2 6.25% $11,694
    Flagstar Bank, FSB 2 6.13% $9,333
    GMFS LLC 2 6.38% $7,462
    NEWREZ LLC 2 6.19% $5,892
    Paramount Residential Mortgage Group, Inc. 2 6.50% $6,618
    Renasant Bank 2 6.81% $7,823
    CMG MORTGAGE, INC. 1 6.25% $10,998
    THE MORTGAGE FIRM, INC. 1 7.13% $6,872
    TOP FLITE FINANCIAL, INC. 1 7.00% $7,036
    Bank of England 1 7.25% $6,902
    HOMETRUST MORTGAGE COMPANY 1 5.25% $5,822
    Mortgage Research Center, LLC 1 5.63% $3,991
    Trustmark National Bank 1 5.50% $7,050
    UNION HOME MORTGAGE CORP. 1 6.25% $13,719
    Plains Commerce Bank 1 6.00% $15,574
    PLAZA HOME MORTGAGE, INC. 1 7.75% $7,953
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $9,066
    Princeton Mortgage Corporation 1 7.25% $7,864
    CROSSCOUNTRY MORTGAGE, LLC 1 7.00% $6,896
    DRAPER AND KRAMER MORTGAGE CORP. 1 7.13% $7,534
    DSLD MORTGAGE, LLC 1 5.75% $3,540
    DIRECT MORTGAGE LOANS, LLC 1 7.62% $9,034
    CARDINAL FINANCIAL 1 5.75% $9,830
    EVERETT FINANCIAL, INC. 1 6.38% $13,421
    SouthPoint Bank 1 6.00% $5,176
    FirstBank 1 6.13% $6,670
    First Federal Bank, A FSB 1 5.88% $5,243

    The top Daphne USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 22 USDA loans originated. Their average total fees are $4,900, which is $3,250 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Daphne USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($4,900), .

    The lowest rate Daphne USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.20%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Daphne (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 $315,000 (5.1%) $421,172 (1.2%) 1.17 2,579
    2018-02-01 $314,950 (3.5%) $420,522 (-0.1%) 1.14 2,650
    2018-03-01 $311,688 (3.1%) $421,472 (-0.8%) 1.09 2,703
    2018-04-01 $329,900 (3.3%) $438,191 (0.4%) 1.12 2,756
    2018-05-01 $336,250 (4.8%) $442,439 (1.6%) 1.12 2,749
    2018-06-01 $339,000 (5.6%) $449,255 (3.9%) 1.13 2,737
    2018-07-01 $337,225 (6.1%) $445,758 (3.1%) 1.13 2,744
    2018-08-01 $330,851 (5.9%) $438,622 (2.5%) 1.11 2,756
    2018-09-01 $330,623 (3.3%) $439,184 (0.5%) 1.11 2,743
    2018-10-01 $330,950 (2.8%) $441,316 (1.2%) 1.12 2,708
    2018-11-01 $329,700 (3.9%) $436,532 (-5.4%) 1.12 2,736
    2018-12-01 $329,000 (4.2%) $435,147 (3.3%) 1.13 2,648
    2019-01-01 $325,253 (3.3%) $431,928 (2.6%) 1.12 2,594
    2019-02-01 $327,000 (3.8%) $426,756 (1.5%) 1.10 2,671
    2019-03-01 $331,443 (6.3%) $438,171 (4.0%) 1.08 2,745
    2019-04-01 $334,850 (1.5%) $450,808 (2.9%) 1.06 2,813
    2019-05-01 $339,900 (1.1%) $456,160 (3.1%) 1.06 2,773
    2019-06-01 $344,000 (1.5%) $456,710 (1.7%) 1.08 2,743
    2019-07-01 $339,925 (0.8%) $446,785 (0.2%) 1.06 2,747
    2019-08-01 $336,955 (1.8%) $441,471 (0.7%) 1.07 2,764
    2019-09-01 $342,886 (3.7%) $446,706 (1.7%) 1.10 2,700
    2019-10-01 $343,091 (3.7%) $448,935 (1.7%) 1.11 2,646
    2019-11-01 $349,900 (6.1%) $460,388 (5.5%) 1.15 2,578
    2019-12-01 $349,250 (6.2%) $464,068 (6.7%) 1.16 2,506
    2020-01-01 $340,070 (4.6%) $458,788 (6.2%) 1.14 2,394
    2020-02-01 $344,900 (5.5%) $459,169 (7.6%) 1.13 2,383
    2020-03-01 $355,958 (7.4%) $474,834 (8.4%) 1.12 2,453
    2020-04-01 $354,900 (6.0%) $469,542 (4.2%) 1.11 2,526
    2020-05-01 $359,900 (5.9%) $482,821 (5.8%) 1.09 2,475
    2020-06-01 $362,450 (5.4%) $491,413 (7.6%) 1.07 2,291
    2020-07-01 $360,586 (6.1%) $504,567 (12.9%) 1.05 2,084
    2020-08-01 $360,000 (6.8%) $513,765 (16.4%) 1.03 1,930
    2020-09-01 $370,500 (8.1%) $522,621 (17.0%) 1.06 1,744
    2020-10-01 $365,000 (6.4%) $528,359 (17.7%) 1.05 1,552
    2020-11-01 $359,950 (2.9%) $540,660 (17.4%) 1.05 1,544
    2020-12-01 $362,176 (3.7%) $535,364 (15.4%) 1.08 1,496
    2021-01-01 $379,145 (11.5%) $557,046 (21.4%) 1.13 1,253
    2021-02-01 $385,634 (11.8%) $561,110 (22.2%) 1.12 1,036
    2021-03-01 $400,729 (12.6%) $603,194 (27.0%) 1.14 819
    2021-04-01 $418,750 (18.0%) $603,653 (28.6%) 1.13 852
    2021-05-01 $449,550 (24.9%) $637,736 (32.1%) 1.19 831
    2021-06-01 $454,795 (25.5%) $651,878 (32.7%) 1.20 887
    2021-07-01 $445,000 (23.4%) $630,245 (24.9%) 1.17 1,078
    2021-08-01 $442,500 (22.9%) $613,050 (19.3%) 1.18 1,197
    2021-09-01 $442,500 (19.4%) $601,393 (15.1%) 1.18 1,279
    2021-10-01 $435,900 (19.4%) $603,498 (14.2%) 1.16 1,293
    2021-11-01 $425,723 (18.3%) $613,865 (13.5%) 1.14 1,222
    2021-12-01 $423,358 (16.9%) $617,499 (15.3%) 1.15 1,105
    2022-01-01 $425,000 (12.1%) $644,508 (15.7%) 1.15 938
    2022-02-01 $450,692 (16.9%) $717,460 (27.9%) 1.17 746
    2022-03-01 $482,127 (20.3%) $775,213 (28.5%) 1.21 705
    2022-04-01 $554,000 (32.3%) $824,138 (36.5%) 1.32 746
    2022-05-01 $549,900 (22.3%) $784,780 (23.1%) 1.26 1,028
    2022-06-01 $549,425 (20.8%) $769,593 (18.1%) 1.22 1,292
    2022-07-01 $539,900 (21.3%) $751,743 (19.3%) 1.22 1,518
    2022-08-01 $534,527 (20.8%) $747,056 (21.9%) 1.24 1,596
    2022-09-01 $527,291 (19.2%) $726,903 (20.9%) 1.23 1,610
    2022-10-01 $499,000 (14.5%) $705,257 (16.9%) 1.17 1,631
    2022-11-01 $495,625 (16.4%) $685,965 (11.8%) 1.19 1,648
    2022-12-01 $489,900 (15.7%) $680,670 (10.2%) 1.21 1,625
    2023-01-01 $483,784 (13.8%) $680,104 (5.5%) 1.20 1,530
    2023-02-01 $496,475 (10.2%) $688,946 (-4.0%) 1.20 1,517
    2023-03-01 $499,450 (3.6%) $702,607 (-9.4%) 1.18 1,499
    2023-04-01 $500,000 (-9.8%) $711,310 (-13.7%) 1.16 1,603
    2023-05-01 $524,975 (-4.5%) $736,959 (-6.1%) 1.19 1,703
    2023-06-01 $527,359 (-4.0%) $736,563 (-4.3%) 1.19 1,715
    2023-07-01 $525,000 (-2.8%) $734,618 (-2.3%) 1.19 1,764
    2023-08-01 $527,000 (-1.4%) $732,057 (-2.0%) 1.21 1,841
    2023-09-01 $543,900 (3.2%) $740,286 (1.8%) 1.27 2,003
    2023-10-01 $547,000 (9.6%) $749,376 (6.3%) 1.29 2,171
    2023-11-01 $530,750 (7.1%) $728,553 (6.2%) 1.26 2,255
    2023-12-01 $529,900 (8.2%) $720,854 (5.9%) 1.29 2,166
    2024-01-01 $529,950 (9.5%) $719,577 (5.8%) 1.29 2,117
    2024-02-01 $525,000 (5.8%) $713,313 (3.5%) 1.26 2,237
    2024-03-01 $499,900 (0.1%) $708,027 (0.8%) 1.18 2,532
    Daphne's median listing price for 2024-03-01 was $499,900, a difference of $450 (0.1%) versus the prior year and $-25,100 versus the prior month.

    Daphne's median listing price comes in at 118% of the national average.

    Daphne's average listing price for 2024-03-01 was $708,027, a difference of $5,420 (0.8%) versus the prior year and $-5,286 versus the prior month.

    For the 2024-03-01 period, Daphne had 2,532 MLS listings, a difference of 295 listings (13%) versus the prior month and 1,033 listings (69%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Daphne (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 99 days 2,024 sqft
    2018-02-01 96 days 2,000 sqft
    2018-03-01 74 days 2,010 sqft
    2018-04-01 68 days 2,017 sqft
    2018-05-01 67 days 2,010 sqft
    2018-06-01 70 days 2,009 sqft
    2018-07-01 73 days 1,971 sqft
    2018-08-01 75 days 1,961 sqft
    2018-09-01 82 days 1,958 sqft
    2018-10-01 87 days 1,950 sqft
    2018-11-01 88 days 1,940 sqft
    2018-12-01 93 days 1,933 sqft
    2019-01-01 96 days 1,931 sqft
    2019-02-01 91 days 1,922 sqft
    2019-03-01 79 days 1,942 sqft
    2019-04-01 68 days 1,955 sqft
    2019-05-01 68 days 1,957 sqft
    2019-06-01 74 days 1,954 sqft
    2019-07-01 76 days 1,950 sqft
    2019-08-01 76 days 1,945 sqft
    2019-09-01 78 days 1,952 sqft
    2019-10-01 80 days 1,957 sqft
    2019-11-01 82 days 1,958 sqft
    2019-12-01 87 days 1,944 sqft
    2020-01-01 88 days 1,939 sqft
    2020-02-01 82 days 1,936 sqft
    2020-03-01 67 days 1,930 sqft
    2020-04-01 69 days 1,903 sqft
    2020-05-01 74 days 1,930 sqft
    2020-06-01 78 days 1,972 sqft
    2020-07-01 70 days 1,980 sqft
    2020-08-01 65 days 1,960 sqft
    2020-09-01 64 days 1,959 sqft
    2020-10-01 66 days 1,958 sqft
    2020-11-01 69 days 1,958 sqft
    2020-12-01 64 days 1,950 sqft
    2021-01-01 71 days 1,963 sqft
    2021-02-01 56 days 1,958 sqft
    2021-03-01 42 days 1,989 sqft
    2021-04-01 34 days 1,949 sqft
    2021-05-01 35 days 1,948 sqft
    2021-06-01 33 days 1,927 sqft
    2021-07-01 30 days 1,891 sqft
    2021-08-01 34 days 1,890 sqft
    2021-09-01 44 days 1,849 sqft
    2021-10-01 52 days 1,833 sqft
    2021-11-01 53 days 1,832 sqft
    2021-12-01 58 days 1,869 sqft
    2022-01-01 58 days 1,915 sqft
    2022-02-01 43 days 2,012 sqft
    2022-03-01 33 days 2,005 sqft
    2022-04-01 26 days 1,980 sqft
    2022-05-01 26 days 1,954 sqft
    2022-06-01 31 days 1,916 sqft
    2022-07-01 44 days 1,878 sqft
    2022-08-01 54 days 1,873 sqft
    2022-09-01 62 days 1,888 sqft
    2022-10-01 68 days 1,884 sqft
    2022-11-01 69 days 1,882 sqft
    2022-12-01 73 days 1,866 sqft
    2023-01-01 81 days 1,878 sqft
    2023-02-01 67 days 1,867 sqft
    2023-03-01 57 days 1,879 sqft
    2023-04-01 51 days 1,873 sqft
    2023-05-01 50 days 1,863 sqft
    2023-06-01 52 days 1,854 sqft
    2023-07-01 56 days 1,839 sqft
    2023-08-01 57 days 1,814 sqft
    2023-09-01 58 days 1,800 sqft
    2023-10-01 62 days 1,822 sqft
    2023-11-01 68 days 1,798 sqft
    2023-12-01 79 days 1,787 sqft
    2024-01-01 87 days 1,787 sqft
    2024-02-01 82 days 1,787 sqft
    2024-03-01 60 days 1,787 sqft
    Daphne's median listing age (time on market) for 2024-03-01 was 60 days. This is 6% longer than the same period one year ago.

    Daphne's median square footage for active listings during the 2024-03-01 period was 1,787 sqft. One year prior, the average listing was 1,879 sqft.