Decatur USDA Loan Rates, Closing Costs & Stats
DECATUR, 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.
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
5.88%
for the week of 2024-10-04, compared to the national average (all USDA variants) of
5.97% for the same period.
Decatur's average USDA mortgage closing costs are $4,426.
The average rate for the prior week (2024-09-27) was
5.71% and
one month ago for the week of 2024-08-30, the
average rate was 6.05%.
The average rate one year ago was 7%.
For refis of the same type during the week of 2024-10-04, the average rate
was 5.76%.
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. LouisDate | 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 |
2024-06-01 | $296,900 (-11.7%) | $353,466 (-7.7%) | 0.67 | 365 |
2024-07-01 | $294,925 (-6.4%) | $358,348 (-5.1%) | 0.67 | 363 |
2024-08-01 | $299,000 (-6.3%) | $368,892 (-3.2%) | 0.70 | 361 |
2024-09-01 | $287,475 (-5.0%) | $364,896 (-2.8%) | 0.00 | 425 |
Decatur's median listing price comes in at 0% of the national average.
Decatur's average listing price for 2024-09-01 was $364,896, a difference of $-10,668 (-2.8%) versus the prior year and $-3,996 versus the prior month.
For the 2024-09-01 period, Decatur had 425 MLS listings, a difference of 64 listings (18%) versus the prior month and 167 listings (65%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Decatur (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 |
2024-06-01 | 48 days | 1,932 sqft |
2024-07-01 | 49 days | 1,926 sqft |
2024-08-01 | 48 days | 1,981 sqft |
2024-09-01 | 0 days | 1,930 sqft |
Decatur's median square footage for active listings during the 2024-09-01 period was 1,930 sqft. One year prior, the average listing was 2,129 sqft.