Dothan USDA Loan Rates, Closing Costs & Stats

DOTHAN, 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.

    Dothan's 22 lenders originated 64 USDA loans during 2023. The total origination value was $11,030,000, with an average USDA loan value of $172,344.

    Dothan USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Dothan averaged 6.92% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Dothan's average USDA mortgage closing costs are $4,271.

    The average rate for the prior week (2024-04-12) was 6.77% and one month ago for the week of 2024-03-15, the average rate was 6.45%.

    The average rate one year ago was 6.49%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.89%.

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

    Dothan 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 Dothan level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Ameris Bank 13 6.47% $6,864
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.91% $5,095
    INTERLINC MORTGAGE SERVICES, LLC 7 6.73% $4,077
    ENVOY MORTGAGE, LTD 6 6.79% $7,581
    Renasant Bank 6 6.85% $5,096
    UNION HOME MORTGAGE CORP. 2 5.81% $5,850
    MORTGAGE INVESTORS GROUP, INC. 2 6.06% $5,376
    CROSSCOUNTRY MORTGAGE, LLC 2 7.25% $5,183
    NEWREZ LLC 2 5.56% $5,000
    Regions Bank 2 6.50% $5,573
    THRIVE MORTGAGE, LLC 1 6.88% $5,821
    Tyndall Federal Credit Union 1 6.00% $4,628
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.75% $9,578
    AVADIAN 1 6.25% $4,676
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.13% $8,024
    FirstBank 1 5.63% $6,701
    FIRST COMMUNITY MORTGAGE, INC. 1 7.13% $4,546
    First Federal Bank 1 6.50% $3,644
    GUILD MORTGAGE COMPANY 1 5.38% $11,938
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.13% $14,368
    Mortgage Research Center, LLC 1 7.99% $1,277
    Nations Lending Corporation 1 6.25% $2,989

    The top Dothan USDA lender as defined by loan originations is Ameris Bank, with 13 USDA loans originated. Their average total fees are $6,864, which is $1,769 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Dothan USDA lenders (with over 10 loans originated) are Ameris Bank ($6,864), .

    The lowest rate Dothan USDA lenders (with over 10 loans originated) are Ameris Bank (6.47%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Dothan (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 $159,900 (10.4%) $201,742 (8.9%) 0.59 827
    2018-02-01 $159,900 (8.6%) $200,247 (7.0%) 0.58 867
    2018-03-01 $159,900 (3.9%) $198,204 (1.7%) 0.56 890
    2018-04-01 $164,500 (6.2%) $200,278 (3.3%) 0.56 883
    2018-05-01 $164,575 (5.6%) $199,446 (2.8%) 0.55 941
    2018-06-01 $164,900 (4.9%) $205,827 (5.6%) 0.55 910
    2018-07-01 $169,900 (8.2%) $209,993 (7.5%) 0.57 878
    2018-08-01 $164,625 (3.5%) $207,771 (6.3%) 0.55 850
    2018-09-01 $165,000 (3.5%) $207,866 (6.2%) 0.55 839
    2018-10-01 $164,788 (3.4%) $209,981 (6.2%) 0.56 811
    2018-11-01 $163,950 (3.0%) $214,561 (8.8%) 0.56 790
    2018-12-01 $169,000 (7.6%) $220,128 (10.7%) 0.58 736
    2019-01-01 $177,400 (10.9%) $222,884 (10.5%) 0.61 705
    2019-02-01 $179,950 (12.5%) $224,256 (12.0%) 0.61 690
    2019-03-01 $184,529 (15.4%) $239,331 (20.8%) 0.60 655
    2019-04-01 $186,429 (13.3%) $253,671 (26.7%) 0.59 636
    2019-05-01 $185,800 (12.9%) $250,300 (25.5%) 0.58 638
    2019-06-01 $190,000 (15.2%) $248,308 (20.6%) 0.59 656
    2019-07-01 $189,700 (11.7%) $248,779 (18.5%) 0.59 658
    2019-08-01 $188,191 (14.3%) $248,613 (19.7%) 0.60 624
    2019-09-01 $186,227 (12.9%) $243,573 (17.2%) 0.60 618
    2019-10-01 $185,068 (12.3%) $240,652 (14.6%) 0.60 613
    2019-11-01 $189,900 (15.8%) $243,313 (13.4%) 0.62 590
    2019-12-01 $191,375 (13.2%) $244,874 (11.2%) 0.64 579
    2020-01-01 $194,400 (9.6%) $253,932 (13.9%) 0.65 546
    2020-02-01 $192,900 (7.2%) $247,267 (10.3%) 0.63 533
    2020-03-01 $198,500 (7.6%) $251,500 (5.1%) 0.62 508
    2020-04-01 $196,850 (5.6%) $245,288 (-3.3%) 0.62 499
    2020-05-01 $196,700 (5.9%) $259,474 (3.7%) 0.60 446
    2020-06-01 $199,600 (5.1%) $267,376 (7.7%) 0.59 414
    2020-07-01 $208,675 (10.0%) $267,281 (7.4%) 0.60 411
    2020-08-01 $218,450 (16.1%) $274,961 (10.6%) 0.63 390
    2020-09-01 $206,950 (11.1%) $268,280 (10.1%) 0.59 339
    2020-10-01 $206,450 (11.6%) $268,092 (11.4%) 0.59 350
    2020-11-01 $204,575 (7.7%) $277,188 (13.9%) 0.60 315
    2020-12-01 $199,650 (4.3%) $268,551 (9.7%) 0.59 318
    2021-01-01 $194,900 (0.3%) $269,701 (6.2%) 0.58 278
    2021-02-01 $191,600 (-0.7%) $272,278 (10.1%) 0.56 257
    2021-03-01 $189,900 (-4.3%) $287,346 (14.3%) 0.54 228
    2021-04-01 $218,225 (10.9%) $310,400 (26.5%) 0.59 206
    2021-05-01 $227,000 (15.4%) $321,687 (24.0%) 0.60 171
    2021-06-01 $208,450 (4.4%) $290,253 (8.6%) 0.55 184
    2021-07-01 $199,900 (-4.2%) $277,056 (3.7%) 0.53 206
    2021-08-01 $203,350 (-6.9%) $265,039 (-3.6%) 0.54 240
    2021-09-01 $219,900 (6.3%) $272,171 (1.5%) 0.59 264
    2021-10-01 $219,900 (6.5%) $284,084 (6.0%) 0.59 253
    2021-11-01 $206,725 (1.1%) $279,664 (0.9%) 0.55 234
    2021-12-01 $217,450 (8.9%) $284,693 (6.0%) 0.59 224
    2022-01-01 $224,900 (15.4%) $292,213 (8.4%) 0.61 199
    2022-02-01 $215,000 (12.2%) $296,946 (9.1%) 0.56 199
    2022-03-01 $246,049 (29.6%) $307,096 (6.9%) 0.62 172
    2022-04-01 $253,699 (16.3%) $305,749 (-1.5%) 0.60 193
    2022-05-01 $239,900 (5.7%) $304,802 (-5.3%) 0.55 203
    2022-06-01 $252,500 (21.1%) $306,842 (5.7%) 0.56 231
    2022-07-01 $259,725 (29.9%) $309,251 (11.6%) 0.59 254
    2022-08-01 $265,850 (30.7%) $309,619 (16.8%) 0.61 274
    2022-09-01 $256,025 (16.4%) $309,142 (13.6%) 0.60 293
    2022-10-01 $257,900 (17.3%) $298,941 (5.2%) 0.61 305
    2022-11-01 $248,450 (20.2%) $293,447 (4.9%) 0.60 313
    2022-12-01 $247,700 (13.9%) $289,499 (1.7%) 0.61 307
    2023-01-01 $234,850 (4.4%) $282,061 (-3.5%) 0.58 280
    2023-02-01 $258,800 (20.4%) $285,911 (-3.7%) 0.62 234
    2023-03-01 $261,800 (6.4%) $289,062 (-5.9%) 0.62 246
    2023-04-01 $275,000 (8.4%) $309,498 (1.2%) 0.64 249
    2023-05-01 $253,725 (5.8%) $312,867 (2.7%) 0.58 251
    2023-06-01 $265,700 (5.2%) $316,322 (3.1%) 0.60 252
    2023-07-01 $259,900 (0.1%) $310,921 (0.5%) 0.59 256
    2023-08-01 $263,175 (-1.0%) $320,327 (3.5%) 0.60 289
    2023-09-01 $269,900 (5.4%) $320,510 (3.7%) 0.63 313
    2023-10-01 $268,225 (4.0%) $318,591 (6.6%) 0.63 339
    2023-11-01 $263,725 (6.2%) $312,021 (6.3%) 0.63 349
    2023-12-01 $264,999 (7.0%) $318,878 (10.2%) 0.65 345
    2024-01-01 $264,075 (12.4%) $313,434 (11.1%) 0.64 323
    2024-02-01 $264,375 (2.2%) $316,320 (10.6%) 0.64 324
    2024-03-01 $260,000 (-0.7%) $319,877 (10.7%) 0.61 330
    Dothan's median listing price for 2024-03-01 was $260,000, a difference of $-1,800 (-0.7%) versus the prior year and $-4,375 versus the prior month.

    Dothan's median listing price comes in at 61% of the national average.

    Dothan's average listing price for 2024-03-01 was $319,877, a difference of $30,815 (10.7%) versus the prior year and $3,557 versus the prior month.

    For the 2024-03-01 period, Dothan had 330 MLS listings, a difference of 6 listings (2%) versus the prior month and 84 listings (34%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Dothan (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 102 days 1,872 sqft
    2018-02-01 94 days 1,851 sqft
    2018-03-01 77 days 1,856 sqft
    2018-04-01 75 days 1,882 sqft
    2018-05-01 72 days 1,880 sqft
    2018-06-01 74 days 1,900 sqft
    2018-07-01 77 days 1,902 sqft
    2018-08-01 84 days 1,890 sqft
    2018-09-01 87 days 1,883 sqft
    2018-10-01 92 days 1,899 sqft
    2018-11-01 94 days 1,891 sqft
    2018-12-01 99 days 1,940 sqft
    2019-01-01 103 days 1,976 sqft
    2019-02-01 96 days 1,975 sqft
    2019-03-01 84 days 2,008 sqft
    2019-04-01 68 days 2,047 sqft
    2019-05-01 67 days 1,992 sqft
    2019-06-01 65 days 2,012 sqft
    2019-07-01 67 days 1,992 sqft
    2019-08-01 74 days 1,974 sqft
    2019-09-01 77 days 1,964 sqft
    2019-10-01 80 days 1,967 sqft
    2019-11-01 89 days 1,991 sqft
    2019-12-01 95 days 2,011 sqft
    2020-01-01 97 days 2,033 sqft
    2020-02-01 85 days 2,007 sqft
    2020-03-01 67 days 2,044 sqft
    2020-04-01 67 days 2,018 sqft
    2020-05-01 70 days 2,026 sqft
    2020-06-01 57 days 2,040 sqft
    2020-07-01 48 days 2,060 sqft
    2020-08-01 52 days 2,100 sqft
    2020-09-01 57 days 2,039 sqft
    2020-10-01 56 days 2,059 sqft
    2020-11-01 67 days 2,077 sqft
    2020-12-01 72 days 2,051 sqft
    2021-01-01 67 days 2,022 sqft
    2021-02-01 64 days 1,969 sqft
    2021-03-01 50 days 1,943 sqft
    2021-04-01 38 days 2,083 sqft
    2021-05-01 36 days 2,089 sqft
    2021-06-01 26 days 2,047 sqft
    2021-07-01 28 days 1,948 sqft
    2021-08-01 32 days 1,936 sqft
    2021-09-01 36 days 1,956 sqft
    2021-10-01 48 days 1,927 sqft
    2021-11-01 59 days 1,840 sqft
    2021-12-01 67 days 1,894 sqft
    2022-01-01 59 days 1,843 sqft
    2022-02-01 40 days 1,854 sqft
    2022-03-01 48 days 1,911 sqft
    2022-04-01 34 days 2,001 sqft
    2022-05-01 38 days 1,922 sqft
    2022-06-01 35 days 2,004 sqft
    2022-07-01 37 days 2,063 sqft
    2022-08-01 40 days 2,077 sqft
    2022-09-01 52 days 2,067 sqft
    2022-10-01 54 days 2,054 sqft
    2022-11-01 62 days 1,982 sqft
    2022-12-01 68 days 1,999 sqft
    2023-01-01 73 days 2,021 sqft
    2023-02-01 71 days 2,113 sqft
    2023-03-01 38 days 2,106 sqft
    2023-04-01 43 days 2,156 sqft
    2023-05-01 45 days 2,039 sqft
    2023-06-01 46 days 2,031 sqft
    2023-07-01 46 days 1,980 sqft
    2023-08-01 45 days 1,912 sqft
    2023-09-01 46 days 1,936 sqft
    2023-10-01 53 days 1,930 sqft
    2023-11-01 58 days 1,947 sqft
    2023-12-01 61 days 1,925 sqft
    2024-01-01 69 days 1,870 sqft
    2024-02-01 57 days 1,915 sqft
    2024-03-01 53 days 1,905 sqft
    Dothan's median listing age (time on market) for 2024-03-01 was 53 days. This is 41% longer than the same period one year ago.

    Dothan's median square footage for active listings during the 2024-03-01 period was 1,905 sqft. One year prior, the average listing was 2,106 sqft.