Decatur USDA Loan Rates, Closing Costs & Stats

DECATUR, AL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Decatur's 22 lenders originated 39 USDA loans during 2023. The total origination value was $7,085,000, with an average USDA loan value of $181,667.

    Decatur USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Decatur averaged 6.72% for the week of 2024-06-14, compared to the national average (all USDA variants) of 6.709% for the same period.

    Decatur's average USDA mortgage closing costs are $4,426.

    The average rate for the prior week (2024-06-07) was 6.42% and one month ago for the week of 2024-05-10, the average rate was 6.5%.

    The average rate one year ago was 6.56%.

    For refis of the same type during the week of 2024-06-14, the average rate was 6.4%.

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

    Decatur 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 Decatur level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.10% $7,232
    Bank Independent 5 6.30% $5,788
    UNITED WHOLESALE MORTGAGE, LLC 3 5.79% $7,033
    Synovus Bank 3 6.54% $4,552
    NEWREZ LLC 2 6.19% $5,147
    BAYSHORE MORTGAGE FUNDING, LLC 2 6.88% $8,666
    Hamilton Mortgage Corporation 2 6.81% $6,971
    CIS Financial Services, Inc. 2 6.31% $6,449
    FirstTrust Home Loans, Inc. 1 6.63% $4,333
    GUILD MORTGAGE COMPANY 1 7.63% $5,364
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.63% $5,615
    MORTGAGE INVESTORS GROUP, INC. 1 6.99% $4,739
    Nations Lending Corporation 1 6.75% $4,596
    ON Q FINANCIAL, INC. 1 6.75% $9,730
    Regions Bank 1 7.00% $7,864
    Renasant Bank 1 7.13% $4,889
    SouthPoint Bank 1 6.50% $8,496
    UNION HOME MORTGAGE CORP. 1 7.25% $4,285
    Century Mortgage Company DBA Century Lending Company 1 6.25% $6,430
    Consumer First Mortgage, Inc. 1 6.25% $6,405
    CROSSCOUNTRY MORTGAGE, LLC 1 7.00% $11,249
    CARDINAL FINANCIAL 1 6.63% $5,649

    The top Decatur USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 5 USDA loans originated. Their average total fees are $7,232, which is $1,444 higher than the next largest lender, Bank Independent.

    The lowest fee Decatur USDA lenders (with over 10 loans originated) are .

    The lowest rate Decatur USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Decatur (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 $175,175 (16.9%) $216,029 (17.1%) 0.65 560
    2018-02-01 $174,925 (16.7%) $218,289 (20.5%) 0.64 558
    2018-03-01 $175,000 (16.7%) $218,806 (17.3%) 0.61 537
    2018-04-01 $182,400 (14.1%) $223,722 (16.8%) 0.62 518
    2018-05-01 $179,950 (9.6%) $218,401 (11.9%) 0.60 545
    2018-06-01 $179,993 (6.2%) $216,990 (5.2%) 0.60 554
    2018-07-01 $187,900 (10.6%) $226,759 (9.3%) 0.63 523
    2018-08-01 $179,900 (5.9%) $223,650 (7.4%) 0.60 521
    2018-09-01 $189,500 (11.5%) $226,709 (9.0%) 0.64 504
    2018-10-01 $184,900 (8.9%) $224,935 (9.1%) 0.63 499
    2018-11-01 $183,675 (8.1%) $225,595 (9.4%) 0.62 485
    2018-12-01 $185,000 (8.9%) $227,662 (6.3%) 0.64 474
    2019-01-01 $182,450 (4.2%) $226,490 (4.8%) 0.63 452
    2019-02-01 $184,925 (5.7%) $225,725 (3.4%) 0.62 435
    2019-03-01 $182,757 (4.4%) $226,306 (3.4%) 0.60 399
    2019-04-01 $180,257 (-1.2%) $229,471 (2.6%) 0.57 374
    2019-05-01 $192,100 (6.8%) $241,353 (10.5%) 0.60 376
    2019-06-01 $199,900 (11.1%) $247,243 (13.9%) 0.62 377
    2019-07-01 $195,450 (4.0%) $250,341 (10.4%) 0.61 381
    2019-08-01 $203,636 (13.2%) $257,024 (14.9%) 0.64 378
    2019-09-01 $201,590 (6.4%) $259,003 (14.2%) 0.65 374
    2019-10-01 $200,000 (8.2%) $259,922 (15.6%) 0.65 370
    2019-11-01 $199,950 (8.9%) $264,249 (17.1%) 0.66 355
    2019-12-01 $199,775 (8.0%) $263,042 (15.5%) 0.67 331
    2020-01-01 $201,415 (10.4%) $267,726 (18.2%) 0.67 310
    2020-02-01 $199,999 (8.2%) $262,468 (16.3%) 0.65 293
    2020-03-01 $210,690 (15.3%) $253,762 (12.1%) 0.66 252
    2020-04-01 $217,450 (20.6%) $265,541 (15.7%) 0.68 247
    2020-05-01 $220,000 (14.5%) $260,523 (7.9%) 0.67 241
    2020-06-01 $215,225 (7.7%) $252,965 (2.3%) 0.63 218
    2020-07-01 $216,400 (10.7%) $255,870 (2.2%) 0.63 221
    2020-08-01 $229,900 (12.9%) $284,330 (10.6%) 0.66 200
    2020-09-01 $229,925 (14.1%) $285,807 (10.4%) 0.66 196
    2020-10-01 $229,900 (15.0%) $291,237 (12.1%) 0.66 192
    2020-11-01 $228,791 (14.4%) $289,256 (9.5%) 0.67 181
    2020-12-01 $224,900 (12.6%) $285,079 (8.4%) 0.67 175
    2021-01-01 $223,750 (11.1%) $291,958 (9.1%) 0.67 152
    2021-02-01 $235,338 (17.7%) $310,661 (18.4%) 0.69 124
    2021-03-01 $232,700 (10.5%) $308,594 (21.6%) 0.66 131
    2021-04-01 $258,675 (19.0%) $327,041 (23.2%) 0.70 121
    2021-05-01 $287,000 (30.5%) $357,547 (37.2%) 0.76 114
    2021-06-01 $266,475 (23.8%) $362,588 (43.3%) 0.70 122
    2021-07-01 $264,000 (22.0%) $347,425 (35.8%) 0.70 137
    2021-08-01 $265,303 (15.4%) $378,191 (33.0%) 0.71 154
    2021-09-01 $264,900 (15.2%) $389,977 (36.5%) 0.71 172
    2021-10-01 $270,000 (17.4%) $387,748 (33.1%) 0.72 187
    2021-11-01 $269,375 (17.7%) $389,327 (34.6%) 0.72 185
    2021-12-01 $260,925 (16.0%) $362,874 (27.3%) 0.71 170
    2022-01-01 $259,000 (15.8%) $351,285 (20.3%) 0.70 142
    2022-02-01 $269,000 (14.3%) $376,666 (21.3%) 0.70 112
    2022-03-01 $268,900 (15.6%) $363,143 (17.7%) 0.67 127
    2022-04-01 $250,000 (-3.4%) $340,851 (4.2%) 0.60 132
    2022-05-01 $281,167 (-2.0%) $338,770 (-5.3%) 0.64 177
    2022-06-01 $286,475 (7.5%) $332,408 (-8.3%) 0.64 218
    2022-07-01 $275,000 (4.2%) $331,967 (-4.5%) 0.62 266
    2022-08-01 $299,450 (12.9%) $336,299 (-11.1%) 0.69 272
    2022-09-01 $299,900 (13.2%) $331,694 (-15.0%) 0.70 268
    2022-10-01 $304,900 (12.9%) $333,539 (-14.0%) 0.72 267
    2022-11-01 $297,000 (10.3%) $332,697 (-14.6%) 0.71 258
    2022-12-01 $289,900 (11.1%) $345,022 (-4.9%) 0.72 245
    2023-01-01 $307,450 (18.7%) $357,434 (1.8%) 0.76 207
    2023-02-01 $307,450 (14.3%) $356,633 (-5.3%) 0.74 200
    2023-03-01 $298,397 (11.0%) $351,605 (-3.2%) 0.70 195
    2023-04-01 $310,900 (24.4%) $356,252 (4.5%) 0.72 174
    2023-05-01 $343,150 (22.0%) $384,075 (13.4%) 0.78 183
    2023-06-01 $336,125 (17.3%) $382,992 (15.2%) 0.76 187
    2023-07-01 $315,000 (14.6%) $377,515 (13.7%) 0.72 226
    2023-08-01 $318,933 (6.5%) $380,875 (13.3%) 0.73 241
    2023-09-01 $302,450 (0.9%) $375,564 (13.2%) 0.70 258
    2023-10-01 $299,450 (-1.8%) $366,002 (9.7%) 0.70 290
    2023-11-01 $294,850 (-0.7%) $359,236 (8.0%) 0.70 306
    2023-12-01 $294,900 (1.7%) $352,193 (2.1%) 0.72 320
    2024-01-01 $295,950 (-3.7%) $353,397 (-1.1%) 0.72 300
    2024-02-01 $297,900 (-3.1%) $362,572 (1.7%) 0.72 302
    2024-03-01 $296,900 (-0.5%) $344,664 (-2.0%) 0.70 292
    2024-04-01 $296,900 (-4.5%) $349,754 (-1.8%) 0.69 276
    2024-05-01 $299,900 (-12.6%) $365,051 (-5.0%) 0.68 322
    Decatur's median listing price for 2024-05-01 was $299,900, a difference of $-43,250 (-12.6%) versus the prior year and $3,000 versus the prior month.

    Decatur's median listing price comes in at 68% of the national average.

    Decatur's average listing price for 2024-05-01 was $365,051, a difference of $-19,024 (-5.0%) versus the prior year and $15,297 versus the prior month.

    For the 2024-05-01 period, Decatur had 322 MLS listings, a difference of 46 listings (17%) versus the prior month and 139 listings (76%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Decatur (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 102 days 2,081 sqft
    2018-02-01 101 days 2,129 sqft
    2018-03-01 93 days 2,143 sqft
    2018-04-01 78 days 2,172 sqft
    2018-05-01 69 days 2,143 sqft
    2018-06-01 68 days 2,150 sqft
    2018-07-01 74 days 2,200 sqft
    2018-08-01 70 days 2,119 sqft
    2018-09-01 71 days 2,170 sqft
    2018-10-01 77 days 2,122 sqft
    2018-11-01 79 days 2,108 sqft
    2018-12-01 85 days 2,157 sqft
    2019-01-01 95 days 2,134 sqft
    2019-02-01 94 days 2,161 sqft
    2019-03-01 79 days 2,161 sqft
    2019-04-01 68 days 2,158 sqft
    2019-05-01 56 days 2,201 sqft
    2019-06-01 52 days 2,250 sqft
    2019-07-01 51 days 2,228 sqft
    2019-08-01 56 days 2,251 sqft
    2019-09-01 62 days 2,253 sqft
    2019-10-01 63 days 2,249 sqft
    2019-11-01 64 days 2,207 sqft
    2019-12-01 72 days 2,193 sqft
    2020-01-01 78 days 2,183 sqft
    2020-02-01 67 days 2,100 sqft
    2020-03-01 55 days 2,103 sqft
    2020-04-01 57 days 2,188 sqft
    2020-05-01 52 days 2,175 sqft
    2020-06-01 38 days 2,127 sqft
    2020-07-01 34 days 2,097 sqft
    2020-08-01 38 days 2,153 sqft
    2020-09-01 37 days 2,168 sqft
    2020-10-01 35 days 2,183 sqft
    2020-11-01 44 days 2,206 sqft
    2020-12-01 45 days 2,144 sqft
    2021-01-01 47 days 2,100 sqft
    2021-02-01 48 days 2,131 sqft
    2021-03-01 26 days 2,101 sqft
    2021-04-01 29 days 2,181 sqft
    2021-05-01 27 days 2,218 sqft
    2021-06-01 23 days 2,189 sqft
    2021-07-01 23 days 2,058 sqft
    2021-08-01 22 days 2,049 sqft
    2021-09-01 24 days 2,126 sqft
    2021-10-01 32 days 2,184 sqft
    2021-11-01 33 days 2,136 sqft
    2021-12-01 38 days 2,121 sqft
    2022-01-01 45 days 2,127 sqft
    2022-02-01 28 days 2,107 sqft
    2022-03-01 15 days 2,088 sqft
    2022-04-01 19 days 2,040 sqft
    2022-05-01 17 days 2,071 sqft
    2022-06-01 26 days 2,092 sqft
    2022-07-01 25 days 2,090 sqft
    2022-08-01 38 days 2,134 sqft
    2022-09-01 44 days 2,071 sqft
    2022-10-01 52 days 2,143 sqft
    2022-11-01 58 days 2,185 sqft
    2022-12-01 66 days 2,201 sqft
    2023-01-01 75 days 2,203 sqft
    2023-02-01 69 days 2,200 sqft
    2023-03-01 48 days 2,079 sqft
    2023-04-01 40 days 2,199 sqft
    2023-05-01 38 days 2,259 sqft
    2023-06-01 44 days 2,253 sqft
    2023-07-01 29 days 2,094 sqft
    2023-08-01 37 days 2,186 sqft
    2023-09-01 42 days 2,129 sqft
    2023-10-01 48 days 2,045 sqft
    2023-11-01 53 days 2,021 sqft
    2023-12-01 56 days 1,935 sqft
    2024-01-01 65 days 1,906 sqft
    2024-02-01 77 days 1,945 sqft
    2024-03-01 58 days 1,925 sqft
    2024-04-01 53 days 1,953 sqft
    2024-05-01 46 days 1,966 sqft
    Decatur's median listing age (time on market) for 2024-05-01 was 46 days. This is 20% longer than the same period one year ago.

    Decatur's median square footage for active listings during the 2024-05-01 period was 1,966 sqft. One year prior, the average listing was 2,259 sqft.