Daphne USDA Loans

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 62 lenders originated 283 USDA loans during 2021. The total origination value was $60,515,000, with an average USDA loan value of $213,834.

    Daphne USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Daphne averaged 5.33% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

    The average rate for the prior week (2022-05-13) was 5.32% and one month ago for the week of 2022-04-15, the average rate was 4.81%.

    The average rate one year ago was 3.26%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.08%.

    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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Daphne level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    DHI MORTGAGE COMPANY, LTD. 53 2.68% $4,276
    HOME POINT FINANCIAL CORPORATION 21 2.86% $5,326
    FirstBank 16 2.90% $5,604
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 3.12% $4,417
    MOVEMENT MORTGAGE, LLC 11 2.90% $4,351
    DSLD MORTGAGE, LLC 11 2.72% $2,880
    Magnolia Bank 9 2.81% $3,498
    Regions Bank 9 2.86% $4,626
    Citizens Bank 7 2.91% $5,271
    GMFS LLC 6 2.83% $3,764
    Hamilton Mortgage Corporation 6 2.48% $4,543
    Trustmark National Bank 6 2.65% $4,444
    First Federal Bank, A FSB 6 2.60% $3,415
    The Home Loan Expert LLC 5 2.69% $5,329
    Truist Bank 5 2.68% $4,804
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 3.34% $5,223
    SWBC MORTGAGE CORPORATION 4 2.75% $4,049
    Flagstar Bank, FSB 4 2.81% $4,662
    CMG MORTGAGE, INC. 4 3.00% $6,604
    PENNYMAC LOAN SERVICES, LLC 3 2.87% $4,568
    EMBRACE HOME LOANS, INC. 3 3.17% $3,209
    CALIBER HOME LOANS, INC. 3 2.71% $6,338
    HOMESTAR FINANCIAL CORPORATION 3 3.21% $3,391
    FIRST COMMUNITY MORTGAGE, INC. 3 2.88% $4,734
    HOMESIDE FINANCIAL, LLC 3 3.08% $5,167
    First Guaranty Mortgage Corporation 3 2.58% $3,053
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 3 3.25% $4,246
    Bank of England 3 2.88% $5,759
    AMERICAN HOME LENDING USA, LLC 3 3.29% $5,636
    Wells Fargo Bank 2 2.50% $3,576
    Community Bank of Mississippi 2 2.63% $4,294
    DIRECT MORTGAGE LOANS, LLC 2 3.06% $6,413
    Hometown Equity Mortgage, LLC 2 2.94% $9,222
    Nations Lending Corporation 2 2.88% $2,729
    PLANET HOME LENDING, LLC 2 2.75% $5,014
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 2.50% $3,846
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.13% $6,484
    Prosperity Home Mortgage, LLC 2 2.75% $4,438
    South State Bank 2 2.31% $4,479
    Synovus Bank 2 2.75% $4,842
    THE MORTGAGE FIRM, INC. 2 2.88% $5,040
    BancorpSouth Bank 1 2.88% $4,903
    NEWREZ LLC 1 2.63% $4,093
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 3.25% $5,516
    Centennial Bank 1 2.25% $4,056
    UNITED WHOLESALE MORTGAGE, LLC 1 2.94% $9,022
    AVADIAN 1 2.75% $4,171
    AMERICAN FINANCIAL NETWORK, INC. 1 2.75% $8,129
    Assurance Financial Group, L.L.C. 1 2.75% $4,848
    BROKER SOLUTIONS, INC. 1 2.74% $6,397
    Renasant Bank 1 3.50% $4,609
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.13% $5,435
    Blue Ridge Bank 1 2.50% $7,702
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.88% $7,613
    Hancock Whitney Bank 1 2.38% $4,917
    Gulf Winds Credit Union 1 2.75% $4,326
    Gateway First Bank 1 3.63% $1,042
    AMERICAN FINANCIAL RESOURCES, INC. 1 2.75% $7,377
    Hometown Lenders, Inc. 1 2.75% $4,956
    DAS Acquisition Company, LLC 1 2.75% $5,811
    MASON MCDUFFIE MORTGAGE CORPORATION 1 2.75% $4,882
    Consumer First Mortgage, Inc. 1 2.25% $4,976

    The top Daphne USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 53 USDA loans originated. Their average total fees are $4,276, which is $1,050 lower than the next largest lender, HOME POINT FINANCIAL CORPORATION.

    The lowest fee Daphne USDA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($2,880), DHI MORTGAGE COMPANY, LTD. ($4,276), MOVEMENT MORTGAGE, LLC ($4,351), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($4,417) and HOME POINT FINANCIAL CORPORATION ($5,326).

    The lowest rate Daphne USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (2.68%), DSLD MORTGAGE, LLC (2.72%), HOME POINT FINANCIAL CORPORATION (2.86%), MOVEMENT MORTGAGE, LLC (2.90%) and FirstBank (2.90%).