Daphne USDA Loan Rates, Closing Costs & Stats

DAPHNE-FAIRHOPE-FOLEY, AL

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 6.62% for the week of 2024-06-14, compared to the national average (all USDA variants) of 6.709% for the same period.

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

The average rate for the prior week (2024-06-07) was 6.51% and one month ago for the week of 2024-05-10, the average rate was 6.3%.

The average rate one year ago was 6.45%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.77%.

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
2024-04-01 $501,885 (0.4%) $698,349 (-1.8%) 1.17 2,576
2024-05-01 $524,900 (0.0%) $712,505 (-3.3%) 1.19 2,594
Daphne's median listing price for 2024-05-01 was $524,900, a difference of $-75 (0.0%) versus the prior year and $23,015 versus the prior month.

Daphne's median listing price comes in at 119% of the national average.

Daphne's average listing price for 2024-05-01 was $712,505, a difference of $-24,454 (-3.3%) versus the prior year and $14,156 versus the prior month.

For the 2024-05-01 period, Daphne had 2,594 MLS listings, a difference of 18 listings (1%) versus the prior month and 891 listings (52%) 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
2024-04-01 60 days 1,787 sqft
2024-05-01 66 days 1,778 sqft
Daphne's median listing age (time on market) for 2024-05-01 was 66 days. This is 31% longer than the same period one year ago.

Daphne's median square footage for active listings during the 2024-05-01 period was 1,778 sqft. One year prior, the average listing was 1,863 sqft.