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 39 lenders originated 112 USDA loans during 2022. The total origination value was $27,650,000, with an average USDA loan value of $246,875.

Daphne USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Daphne averaged 6.17% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

Daphne's average USDA mortgage closing costs are $4,483.

The average rate for the prior week (2023-05-19) was 6.11% and one month ago for the week of 2023-04-21, the average rate was 5.72%.

The average rate one year ago was 4.84%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.37%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
HOME POINT FINANCIAL CORPORATION 19 3.51% $7,149
DHI MORTGAGE COMPANY, LTD. 19 3.76% $4,696
DSLD MORTGAGE, LLC 7 4.89% $3,574
UNITED WHOLESALE MORTGAGE, LLC 6 4.60% $7,990
Regions Bank 5 5.43% $6,756
PLAZA HOME MORTGAGE, INC. 4 3.72% $5,002
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 4.87% $7,362
Trustmark National Bank 3 4.08% $5,326
GUARANTEED RATE, INC. 2 4.63% $7,322
CARDINAL FINANCIAL 2 4.69% $6,483
Citizens Bank 2 5.50% $4,361
EVERETT FINANCIAL, INC. 2 5.94% $3,719
FirstBank 2 4.88% $5,183
Flagstar Bank, FSB 2 3.07% $5,459
GMFS LLC 2 5.25% $3,176
AMERICAN PACIFIC MORTGAGE CORPORATION 2 4.13% $8,794
Magnolia Bank 2 5.50% $5,459
PENNYMAC LOAN SERVICES, LLC 2 2.94% $7,001
SouthPoint Bank 2 4.81% $5,520
THE MORTGAGE FIRM, INC. 2 3.13% $5,417
Truist 2 2.56% $7,240
Hometown Lenders, Inc. 1 5.50% $8,325
LEADERONE FINANCIAL CORPORATION 1 5.12% $9,140
CALIBER HOME LOANS, INC. 1 5.63% $4,999
Mortgage Research Center, LLC 1 7.13% $6,829
NEWREZ LLC 1 4.63% $4,994
TOP FLITE FINANCIAL, INC. 1 5.50% $15,408
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 5.63% $7,538
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.63% $9,315
DRAPER AND KRAMER MORTGAGE CORP. 1 3.25% $5,534
EMBRACE HOME LOANS, INC. 1 3.63% $4,354
Prosperity Home Mortgage, LLC 1 5.12% $4,704
COMMUNITY MORTGAGE CORPORATION 1 2.62% $9,679
FIDELITY BANK 1 3.88% $6,053
Centennial Bank 1 4.00% $5,477
Sierra Pacific Mortgage Company, Inc. 1 5.00% $5,686
Bank of England 1 3.88% $5,770
The Home Loan Expert LLC 1 4.75% $4,729
CMG MORTGAGE, INC. 1 6.25% $9,102

The top Daphne USDA lender as defined by loan originations is HOME POINT FINANCIAL CORPORATION, with 19 USDA loans originated. Their average total fees are $7,149, which is $2,452 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Daphne USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($4,696), HOME POINT FINANCIAL CORPORATION ($7,149), .

The lowest rate Daphne USDA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (3.51%), DHI MORTGAGE COMPANY, LTD. (3.76%), .


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%) $421,247 (1.3%) 1.17 2,578
2018-02-01 $314,950 (3.5%) $420,596 (-0.1%) 1.15 2,649
2018-03-01 $311,725 (3.1%) $421,543 (-0.8%) 1.09 2,702
2018-04-01 $329,900 (3.3%) $438,191 (0.4%) 1.12 2,756
2018-05-01 $336,250 (4.6%) $442,439 (1.6%) 1.12 2,749
2018-06-01 $339,000 (5.2%) $449,255 (3.8%) 1.13 2,737
2018-07-01 $337,225 (6.1%) $445,758 (3.1%) 1.13 2,744
2018-08-01 $330,851 (5.7%) $438,622 (2.4%) 1.11 2,756
2018-09-01 $330,623 (3.3%) $439,184 (0.5%) 1.11 2,743
2018-10-01 $330,950 (2.5%) $441,316 (1.2%) 1.12 2,708
2018-11-01 $329,700 (4.0%) $436,532 (-5.4%) 1.12 2,736
2018-12-01 $329,000 (4.2%) $435,147 (3.2%) 1.13 2,648
2019-01-01 $325,253 (3.3%) $431,928 (2.5%) 1.12 2,594
2019-02-01 $327,000 (3.8%) $426,679 (1.5%) 1.10 2,672
2019-03-01 $329,900 (5.8%) $437,205 (3.7%) 1.10 2,755
2019-04-01 $334,950 (1.5%) $449,528 (2.6%) 1.06 2,814
2019-05-01 $339,900 (1.1%) $456,077 (3.1%) 1.06 2,774
2019-06-01 $343,725 (1.4%) $456,627 (1.6%) 1.07 2,744
2019-07-01 $339,863 (0.8%) $446,705 (0.2%) 1.06 2,748
2019-08-01 $349,000 (5.5%) $460,238 (4.9%) 1.09 2,708
2019-09-01 $352,484 (6.6%) $459,409 (4.6%) 1.11 2,593
2019-10-01 $342,549 (3.5%) $449,544 (1.9%) 1.11 2,650
2019-11-01 $349,900 (6.1%) $460,220 (5.4%) 1.15 2,580
2019-12-01 $349,000 (6.1%) $463,891 (6.6%) 1.16 2,508
2020-01-01 $339,975 (4.5%) $458,578 (6.2%) 1.14 2,396
2020-02-01 $344,546 (5.4%) $458,989 (7.6%) 1.13 2,383
2020-03-01 $355,958 (7.9%) $474,834 (8.6%) 1.12 2,453
2020-04-01 $354,900 (6.0%) $469,542 (4.5%) 1.11 2,526
2020-05-01 $359,900 (5.9%) $482,821 (5.9%) 1.09 2,475
2020-06-01 $362,450 (5.5%) $491,308 (7.6%) 1.07 2,292
2020-07-01 $360,063 (5.9%) $504,322 (12.9%) 1.04 2,086
2020-08-01 $360,000 (3.2%) $513,765 (11.6%) 1.03 1,931
2020-09-01 $370,500 (5.1%) $522,621 (13.8%) 1.06 1,744
2020-10-01 $365,000 (6.6%) $528,359 (17.5%) 1.05 1,553
2020-11-01 $359,975 (2.9%) $541,050 (17.6%) 1.05 1,545
2020-12-01 $362,366 (3.8%) $535,772 (15.5%) 1.08 1,497
2021-01-01 $379,395 (11.6%) $560,978 (22.3%) 1.13 1,254
2021-02-01 $387,265 (12.4%) $562,217 (22.5%) 1.13 1,037
2021-03-01 $400,729 (12.6%) $604,037 (27.2%) 1.14 820
2021-04-01 $419,375 (18.2%) $604,246 (28.7%) 1.14 852
2021-05-01 $450,000 (25.0%) $639,334 (32.4%) 1.19 831
2021-06-01 $454,872 (25.5%) $652,325 (32.8%) 1.20 887
2021-07-01 $445,000 (23.6%) $630,022 (24.9%) 1.17 1,078
2021-08-01 $445,852 (23.9%) $613,414 (19.4%) 1.19 1,198
2021-09-01 $443,400 (19.7%) $601,793 (15.2%) 1.18 1,280
2021-10-01 $435,450 (19.3%) $603,552 (14.2%) 1.16 1,294
2021-11-01 $426,219 (18.4%) $613,920 (13.5%) 1.14 1,223
2021-12-01 $423,358 (16.8%) $617,614 (15.3%) 1.15 1,105
2022-01-01 $425,000 (12.0%) $645,180 (15.0%) 1.15 938
2022-02-01 $451,246 (16.5%) $719,077 (27.9%) 1.17 746
2022-03-01 $482,127 (20.3%) $775,213 (28.3%) 1.21 705
2022-04-01 $560,000 (33.5%) $825,181 (36.6%) 1.33 746
2022-05-01 $549,925 (22.2%) $787,501 (23.2%) 1.26 1,028
2022-06-01 $549,850 (20.9%) $769,728 (18.0%) 1.22 1,293
2022-07-01 $543,486 (22.1%) $751,464 (19.3%) 1.23 1,519
2022-08-01 $534,975 (20.0%) $748,140 (22.0%) 1.24 1,599
2022-09-01 $527,400 (18.9%) $726,921 (20.8%) 1.23 1,613
2022-10-01 $499,900 (14.8%) $707,297 (17.2%) 1.18 1,634
2022-11-01 $499,000 (17.1%) $688,083 (12.1%) 1.20 1,651
2022-12-01 $489,900 (15.7%) $681,889 (10.4%) 1.21 1,629
2023-01-01 $485,000 (14.1%) $680,683 (5.5%) 1.20 1,534
2023-02-01 $496,500 (10.0%) $691,470 (-3.8%) 1.20 1,517
2023-03-01 $499,900 (3.7%) $703,767 (-9.2%) 1.18 1,499
2023-04-01 $512,900 (-8.4%) $713,851 (-13.5%) 1.19 1,602
Daphne's median listing price for 2023-04-01 was $512,900, a difference of $-47,100 (-8.4%) versus the prior year and $13,000 versus the prior month.

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

Daphne's average listing price for 2023-04-01 was $713,851, a difference of $-111,330 (-13.5%) versus the prior year and $10,084 versus the prior month.

For the 2023-04-01 period, Daphne had 1,602 MLS listings, a difference of 103 listings (7%) versus the prior month and 856 listings (115%) 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
2018-01-01 106 days 2,025 sqft
2018-02-01 106 days 2,000 sqft
2018-03-01 99 days 2,010 sqft
2018-04-01 80 days 2,018 sqft
2018-05-01 79 days 2,011 sqft
2018-06-01 81 days 2,010 sqft
2018-07-01 80 days 1,973 sqft
2018-08-01 84 days 1,961 sqft
2018-09-01 91 days 1,958 sqft
2018-10-01 95 days 1,950 sqft
2018-11-01 98 days 1,942 sqft
2018-12-01 101 days 1,936 sqft
2019-01-01 105 days 1,931 sqft
2019-02-01 99 days 1,923 sqft
2019-03-01 84 days 1,948 sqft
2019-04-01 74 days 1,956 sqft
2019-05-01 75 days 1,956 sqft
2019-06-01 79 days 1,954 sqft
2019-07-01 84 days 1,950 sqft
2019-08-01 95 days 1,958 sqft
2019-09-01 96 days 1,972 sqft
2019-10-01 87 days 1,958 sqft
2019-11-01 89 days 1,958 sqft
2019-12-01 93 days 1,945 sqft
2020-01-01 95 days 1,940 sqft
2020-02-01 91 days 1,936 sqft
2020-03-01 73 days 1,930 sqft
2020-04-01 74 days 1,903 sqft
2020-05-01 79 days 1,930 sqft
2020-06-01 85 days 1,972 sqft
2020-07-01 76 days 1,980 sqft
2020-08-01 71 days 1,960 sqft
2020-09-01 69 days 1,958 sqft
2020-10-01 72 days 1,958 sqft
2020-11-01 74 days 1,957 sqft
2020-12-01 69 days 1,950 sqft
2021-01-01 75 days 1,963 sqft
2021-02-01 66 days 1,959 sqft
2021-03-01 49 days 1,989 sqft
2021-04-01 38 days 1,949 sqft
2021-05-01 38 days 1,948 sqft
2021-06-01 37 days 1,928 sqft
2021-07-01 32 days 1,892 sqft
2021-08-01 35 days 1,889 sqft
2021-09-01 45 days 1,845 sqft
2021-10-01 53 days 1,833 sqft
2021-11-01 55 days 1,832 sqft
2021-12-01 59 days 1,867 sqft
2022-01-01 59 days 1,915 sqft
2022-02-01 44 days 2,017 sqft
2022-03-01 34 days 2,006 sqft
2022-04-01 28 days 1,980 sqft
2022-05-01 28 days 1,958 sqft
2022-06-01 32 days 1,911 sqft
2022-07-01 44 days 1,878 sqft
2022-08-01 55 days 1,874 sqft
2022-09-01 64 days 1,888 sqft
2022-10-01 68 days 1,879 sqft
2022-11-01 71 days 1,881 sqft
2022-12-01 75 days 1,866 sqft
2023-01-01 84 days 1,877 sqft
2023-02-01 69 days 1,867 sqft
2023-03-01 60 days 1,877 sqft
2023-04-01 53 days 1,870 sqft
Daphne's median listing age (time on market) for 2023-04-01 was 53 days. This is 89% longer than the same period one year ago.

Daphne's median square footage for active listings during the 2023-04-01 period was 1,870 sqft. One year prior, the average listing was 1,980 sqft.