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 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 6.44% for the week of 2023-12-01, compared to the national average (all USDA variants) of 6.997% for the same period.

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

    The average rate for the prior week (2023-11-24) was 6.34% and one month ago for the week of 2023-10-27, the average rate was 6.79%.

    The average rate one year ago was 6.01%.

    For refis of the same type during the week of 2023-12-01, the average rate was 5.74%.

    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%) 1.14 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 (5.3%) $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 (3.9%) $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 $331,357 (6.3%) $438,093 (3.9%) 1.08 2,746
    2019-04-01 $334,750 (1.5%) $450,728 (2.9%) 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 $336,299 (1.7%) $441,423 (0.6%) 1.07 2,766
    2019-09-01 $341,249 (3.2%) $446,699 (1.7%) 1.09 2,703
    2019-10-01 $341,999 (3.3%) $448,958 (1.7%) 1.10 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%) $458,607 (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 (7.4%) $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 (5.9%) 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 (7.1%) $513,765 (16.4%) 1.03 1,931
    2020-09-01 $370,500 (8.6%) $522,621 (17.0%) 1.06 1,744
    2020-10-01 $365,000 (6.7%) $528,359 (17.7%) 1.05 1,553
    2020-11-01 $359,975 (2.9%) $541,050 (17.6%) 1.05 1,545
    2020-12-01 $362,294 (3.8%) $535,772 (15.5%) 1.08 1,497
    2021-01-01 $379,289 (11.6%) $557,531 (21.6%) 1.13 1,254
    2021-02-01 $386,870 (12.3%) $561,662 (22.4%) 1.13 1,037
    2021-03-01 $401,508 (12.8%) $603,833 (27.2%) 1.14 820
    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%) 1.20 831
    2021-06-01 $454,795 (25.5%) $651,878 (32.7%) 1.20 887
    2021-07-01 $445,000 (23.6%) $630,022 (24.9%) 1.17 1,078
    2021-08-01 $442,500 (22.9%) $612,865 (19.3%) 1.18 1,198
    2021-09-01 $442,375 (19.4%) $601,228 (15.0%) 1.18 1,280
    2021-10-01 $435,450 (19.3%) $603,330 (14.2%) 1.16 1,294
    2021-11-01 $425,362 (18.2%) $613,679 (13.4%) 1.14 1,223
    2021-12-01 $423,287 (16.8%) $617,402 (15.2%) 1.15 1,105
    2022-01-01 $425,000 (12.1%) $644,508 (15.6%) 1.15 938
    2022-02-01 $450,692 (16.5%) $717,460 (27.7%) 1.17 746
    2022-03-01 $482,127 (20.1%) $775,213 (28.4%) 1.21 705
    2022-04-01 $554,000 (32.3%) $824,138 (36.5%) 1.32 746
    2022-05-01 $549,675 (22.3%) $784,324 (23.0%) 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 $534,050 (20.7%) $746,815 (21.9%) 1.23 1,597
    2022-09-01 $527,182 (19.2%) $726,674 (20.9%) 1.23 1,611
    2022-10-01 $499,810 (14.8%) $705,037 (16.9%) 1.18 1,632
    2022-11-01 $495,250 (16.4%) $685,772 (11.8%) 1.19 1,649
    2022-12-01 $489,900 (15.7%) $680,480 (10.2%) 1.21 1,626
    2023-01-01 $483,784 (13.8%) $679,905 (5.5%) 1.20 1,531
    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%) $737,060 (-6.0%) 1.19 1,703
    2023-06-01 $527,562 (-4.0%) $736,763 (-4.3%) 1.19 1,714
    2023-07-01 $525,000 (-2.8%) $734,618 (-2.3%) 1.19 1,764
    2023-08-01 $527,000 (-1.3%) $732,057 (-2.0%) 1.21 1,841
    2023-09-01 $543,900 (3.2%) $740,286 (1.9%) 1.27 2,003
    2023-10-01 $547,000 (9.4%) $749,376 (6.3%) 1.29 2,171
    2023-11-01 $530,750 (7.2%) $728,553 (6.2%) 1.26 2,255
    Daphne's median listing price for 2023-11-01 was $530,750, a difference of $35,500 (7.2%) versus the prior year and $-16,250 versus the prior month.

    Daphne's median listing price comes in at 126% of the national average.

    Daphne's average listing price for 2023-11-01 was $728,553, a difference of $42,781 (6.2%) versus the prior year and $-20,823 versus the prior month.

    For the 2023-11-01 period, Daphne had 2,255 MLS listings, a difference of 84 listings (4%) versus the prior month and 606 listings (37%) 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 2,025 sqft
    2018-02-01 96 days 2,000 sqft
    2018-03-01 74 days 2,010 sqft
    2018-04-01 68 days 2,018 sqft
    2018-05-01 67 days 2,011 sqft
    2018-06-01 70 days 2,010 sqft
    2018-07-01 73 days 1,974 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 1,942 sqft
    2018-12-01 93 days 1,936 sqft
    2019-01-01 96 days 1,931 sqft
    2019-02-01 91 days 1,923 sqft
    2019-03-01 79 days 1,941 sqft
    2019-04-01 68 days 1,955 sqft
    2019-05-01 68 days 1,956 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 89 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 1,958 sqft
    2020-10-01 66 days 1,958 sqft
    2020-11-01 69 days 1,957 sqft
    2020-12-01 64 days 1,950 sqft
    2021-01-01 71 days 1,963 sqft
    2021-02-01 56 days 1,959 sqft
    2021-03-01 42 days 1,990 sqft
    2021-04-01 34 days 1,949 sqft
    2021-05-01 35 days 1,948 sqft
    2021-06-01 33 days 1,928 sqft
    2021-07-01 30 days 1,891 sqft
    2021-08-01 34 days 1,889 sqft
    2021-09-01 44 days 1,847 sqft
    2021-10-01 52 days 1,833 sqft
    2021-11-01 53 days 1,832 sqft
    2021-12-01 58 days 1,871 sqft
    2022-01-01 58 days 1,915 sqft
    2022-02-01 43 days 2,012 sqft
    2022-03-01 33 days 2,006 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 1,889 sqft
    2022-10-01 68 days 1,883 sqft
    2022-11-01 68 days 1,883 sqft
    2022-12-01 73 days 1,866 sqft
    2023-01-01 81 days 1,877 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 1,864 sqft
    2023-06-01 52 days 1,854 sqft
    2023-07-01 56 days 1,840 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
    Daphne's median listing age (time on market) for 2023-11-01 was 68 days. This is 0% shorter than the same period one year ago.

    Daphne's median square footage for active listings during the 2023-11-01 period was 1,798 sqft. One year prior, the average listing was 1,883 sqft.