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%.

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
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 for 2024-09-01 was $287,475, a difference of $-14,975 (-5.0%) versus the prior year and $-11,525 versus the prior month.

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. 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
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 listing age (time on market) for 2024-09-01 was 0 days. This is -100% shorter than the same period one year ago.

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.