Enterprise USDA Loan Rates, Closing Costs & Stats
Enterprise, 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.
Enterprise's 11 lenders originated 28 USDA loans during 2023. The total origination value was $5,040,000, with an average USDA loan value of $180,000.
Enterprise USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Enterprise
averaged
7%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Enterprise's average USDA mortgage closing costs are $3,821.
The average rate for the prior week (2024-04-12) was
6.55% and
one month ago for the week of 2024-03-15, the
average rate was 6.54%.
The average rate one year ago was 6.17%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.06%.
Enterprise 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 Enterprise level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 6 | 7.04% | $4,670 |
| UNITED WHOLESALE MORTGAGE, LLC | 4 | 6.09% | $9,916 |
| ENVOY MORTGAGE, LTD | 4 | 6.50% | $9,744 |
| Mortgage Research Center, LLC | 4 | 6.75% | $2,707 |
| Ameris Bank | 2 | 6.81% | $7,222 |
| MOVEMENT MORTGAGE, LLC | 1 | 6.75% | $5,818 |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | 1 | 7.13% | $9,462 |
| Renasant Bank | 1 | 6.88% | $4,122 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 7.56% | $5,191 |
| Synovus Bank | 1 | 6.75% | $6,205 |
| Regions Bank | 1 | 6.75% | $5,445 |
The top Enterprise USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
6 USDA loans originated. Their average total fees are
$4,670, which is $5,245
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Enterprise USDA lenders (with over 10 loans originated) are
.
The lowest rate Enterprise USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Enterprise (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 | $168,538 (8.0%) | $185,289 (0.0%) | 0.00 | 358 |
| 2018-02-01 | $166,600 (2.9%) | $184,865 (-0.5%) | 0.00 | 369 |
| 2018-03-01 | $172,500 (7.3%) | $190,699 (4.0%) | 0.00 | 384 |
| 2018-04-01 | $171,125 (4.4%) | $188,553 (0.3%) | 0.00 | 405 |
| 2018-05-01 | $170,000 (0.0%) | $196,259 (1.9%) | 0.00 | 476 |
| 2018-06-01 | $168,850 (-1.0%) | $192,319 (1.3%) | 0.00 | 412 |
| 2018-07-01 | $169,825 (-3.0%) | $193,499 (1.5%) | 0.00 | 408 |
| 2018-08-01 | $174,819 (1.7%) | $193,554 (2.6%) | 0.00 | 410 |
| 2018-09-01 | $179,900 (6.0%) | $198,572 (6.5%) | 0.00 | 391 |
| 2018-10-01 | $178,500 (6.0%) | $200,473 (8.1%) | 0.00 | 372 |
| 2018-11-01 | $179,325 (6.1%) | $202,467 (8.6%) | 0.00 | 361 |
| 2018-12-01 | $178,500 (8.3%) | $200,826 (9.0%) | 0.00 | 365 |
| 2019-01-01 | $179,000 (6.2%) | $200,373 (8.1%) | 0.00 | 346 |
| 2019-02-01 | $178,375 (7.1%) | $200,006 (8.2%) | 0.00 | 348 |
| 2019-03-01 | $177,286 (2.8%) | $203,782 (6.9%) | 0.00 | 338 |
| 2019-04-01 | $176,611 (3.2%) | $211,393 (12.1%) | 0.00 | 334 |
| 2019-05-01 | $178,500 (5.0%) | $213,349 (8.7%) | 0.00 | 327 |
| 2019-06-01 | $174,950 (3.6%) | $214,771 (11.7%) | 0.00 | 314 |
| 2019-07-01 | $178,900 (5.3%) | $217,089 (12.2%) | 0.00 | 314 |
| 2019-08-01 | $180,745 (3.4%) | $217,068 (12.2%) | 0.00 | 288 |
| 2019-09-01 | $182,014 (1.2%) | $216,902 (9.2%) | 0.00 | 269 |
| 2019-10-01 | $182,859 (2.4%) | $217,802 (8.6%) | 0.00 | 256 |
| 2019-11-01 | $178,500 (-0.5%) | $212,218 (4.8%) | 0.00 | 252 |
| 2019-12-01 | $178,500 (0.0%) | $212,366 (5.8%) | 0.00 | 239 |
| 2020-01-01 | $179,700 (0.4%) | $212,619 (6.1%) | 0.00 | 221 |
| 2020-02-01 | $174,950 (-1.9%) | $204,985 (2.5%) | 0.00 | 223 |
| 2020-03-01 | $170,575 (-3.8%) | $207,820 (2.0%) | 0.00 | 219 |
| 2020-04-01 | $179,200 (1.5%) | $213,285 (0.9%) | 0.00 | 208 |
| 2020-05-01 | $187,500 (5.0%) | $222,647 (4.4%) | 0.00 | 197 |
| 2020-06-01 | $203,750 (16.5%) | $236,169 (10.0%) | 0.00 | 172 |
| 2020-07-01 | $198,250 (10.8%) | $237,274 (9.3%) | 0.00 | 151 |
| 2020-08-01 | $199,975 (10.6%) | $250,653 (15.5%) | 0.00 | 142 |
| 2020-09-01 | $214,725 (18.0%) | $265,396 (22.4%) | 0.00 | 119 |
| 2020-10-01 | $213,250 (16.6%) | $231,582 (6.3%) | 0.00 | 136 |
| 2020-11-01 | $197,450 (10.6%) | $220,730 (4.0%) | 0.00 | 150 |
| 2020-12-01 | $207,375 (16.2%) | $230,011 (8.3%) | 0.00 | 151 |
| 2021-01-01 | $206,500 (14.9%) | $226,841 (6.7%) | 0.00 | 137 |
| 2021-02-01 | $195,825 (11.9%) | $224,562 (9.6%) | 0.00 | 125 |
| 2021-03-01 | $192,475 (12.8%) | $238,467 (14.8%) | 0.00 | 103 |
| 2021-04-01 | $181,000 (1.0%) | $231,377 (8.5%) | 0.00 | 95 |
| 2021-05-01 | $199,750 (6.5%) | $250,639 (12.6%) | 0.00 | 87 |
| 2021-06-01 | $223,625 (9.8%) | $257,537 (9.1%) | 0.00 | 97 |
| 2021-07-01 | $215,000 (8.5%) | $256,173 (8.0%) | 0.00 | 109 |
| 2021-08-01 | $202,450 (1.2%) | $250,047 (-0.2%) | 0.00 | 114 |
| 2021-09-01 | $195,920 (-8.8%) | $243,240 (-8.4%) | 0.00 | 104 |
| 2021-10-01 | $195,000 (-8.6%) | $227,229 (-1.9%) | 0.00 | 109 |
| 2021-11-01 | $193,724 (-1.9%) | $225,961 (2.4%) | 0.00 | 98 |
| 2021-12-01 | $193,724 (-6.6%) | $228,539 (-0.6%) | 0.00 | 87 |
| 2022-01-01 | $195,000 (-5.6%) | $221,393 (-2.4%) | 0.00 | 77 |
| 2022-02-01 | $199,000 (1.6%) | $239,647 (6.7%) | 0.00 | 63 |
| 2022-03-01 | $190,500 (-1.0%) | $231,104 (-3.1%) | 0.00 | 60 |
| 2022-04-01 | $218,750 (20.9%) | $254,411 (10.0%) | 0.00 | 57 |
| 2022-05-01 | $246,825 (23.6%) | $280,397 (11.9%) | 0.00 | 64 |
| 2022-06-01 | $292,200 (30.7%) | $307,400 (19.4%) | 0.00 | 82 |
| 2022-07-01 | $327,950 (52.5%) | $326,524 (27.5%) | 0.00 | 92 |
| 2022-08-01 | $335,750 (65.8%) | $319,930 (28.0%) | 0.00 | 94 |
| 2022-09-01 | $343,500 (75.3%) | $321,379 (32.1%) | 0.00 | 100 |
| 2022-10-01 | $347,000 (78.0%) | $326,703 (43.8%) | 0.00 | 106 |
| 2022-11-01 | $336,500 (73.7%) | $326,892 (44.7%) | 0.00 | 108 |
| 2022-12-01 | $336,000 (73.4%) | $335,788 (46.9%) | 0.00 | 107 |
| 2023-01-01 | $345,000 (76.9%) | $326,613 (47.5%) | 0.00 | 96 |
| 2023-02-01 | $347,000 (74.4%) | $324,126 (35.3%) | 0.00 | 93 |
| 2023-03-01 | $353,725 (85.7%) | $337,669 (46.1%) | 0.00 | 106 |
| 2023-04-01 | $359,000 (64.1%) | $342,234 (34.5%) | 0.00 | 113 |
| 2023-05-01 | $359,000 (45.5%) | $344,300 (22.8%) | 0.00 | 95 |
| 2023-06-01 | $359,425 (23.0%) | $339,704 (10.5%) | 0.00 | 106 |
| 2023-07-01 | $365,000 (11.3%) | $336,313 (3.0%) | 0.00 | 113 |
| 2023-08-01 | $356,450 (6.2%) | $336,056 (5.0%) | 0.00 | 124 |
| 2023-09-01 | $328,000 (-4.5%) | $322,351 (0.3%) | 0.00 | 136 |
| 2023-10-01 | $322,225 (-7.1%) | $322,110 (-1.4%) | 0.00 | 148 |
| 2023-11-01 | $315,625 (-6.2%) | $323,740 (-1.0%) | 0.00 | 147 |
| 2023-12-01 | $273,500 (-18.6%) | $303,343 (-9.7%) | 0.00 | 145 |
| 2024-01-01 | $275,000 (-20.3%) | $304,701 (-6.7%) | 0.00 | 136 |
| 2024-02-01 | $281,225 (-19.0%) | $305,615 (-5.7%) | 0.00 | 140 |
| 2024-03-01 | $259,900 (-26.5%) | $300,506 (-11.0%) | 0.00 | 146 |
Enterprise's median listing price comes in at 0% of the national average.
Enterprise's average listing price for 2024-03-01 was $300,506, a difference of $-37,163 (-11.0%) versus the prior year and $-5,109 versus the prior month.
For the 2024-03-01 period, Enterprise had 146 MLS listings, a difference of 6 listings (4%) versus the prior month and 40 listings (38%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Enterprise (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,998 sqft |
| 2018-02-01 | 0 days | 1,947 sqft |
| 2018-03-01 | 0 days | 1,949 sqft |
| 2018-04-01 | 0 days | 1,960 sqft |
| 2018-05-01 | 0 days | 1,961 sqft |
| 2018-06-01 | 0 days | 1,956 sqft |
| 2018-07-01 | 0 days | 1,966 sqft |
| 2018-08-01 | 0 days | 2,011 sqft |
| 2018-09-01 | 0 days | 1,988 sqft |
| 2018-10-01 | 0 days | 2,001 sqft |
| 2018-11-01 | 0 days | 2,010 sqft |
| 2018-12-01 | 0 days | 1,968 sqft |
| 2019-01-01 | 0 days | 1,958 sqft |
| 2019-02-01 | 0 days | 1,924 sqft |
| 2019-03-01 | 0 days | 1,937 sqft |
| 2019-04-01 | 0 days | 1,966 sqft |
| 2019-05-01 | 0 days | 1,960 sqft |
| 2019-06-01 | 0 days | 1,947 sqft |
| 2019-07-01 | 0 days | 2,020 sqft |
| 2019-08-01 | 0 days | 2,012 sqft |
| 2019-09-01 | 0 days | 2,002 sqft |
| 2019-10-01 | 0 days | 1,998 sqft |
| 2019-11-01 | 0 days | 1,980 sqft |
| 2019-12-01 | 0 days | 1,974 sqft |
| 2020-01-01 | 0 days | 1,931 sqft |
| 2020-02-01 | 0 days | 1,895 sqft |
| 2020-03-01 | 0 days | 1,986 sqft |
| 2020-04-01 | 0 days | 2,043 sqft |
| 2020-05-01 | 0 days | 2,074 sqft |
| 2020-06-01 | 0 days | 2,136 sqft |
| 2020-07-01 | 0 days | 2,094 sqft |
| 2020-08-01 | 0 days | 2,131 sqft |
| 2020-09-01 | 0 days | 2,092 sqft |
| 2020-10-01 | 0 days | 2,017 sqft |
| 2020-11-01 | 0 days | 2,028 sqft |
| 2020-12-01 | 0 days | 2,049 sqft |
| 2021-01-01 | 0 days | 1,988 sqft |
| 2021-02-01 | 0 days | 1,970 sqft |
| 2021-03-01 | 0 days | 2,000 sqft |
| 2021-04-01 | 0 days | 1,945 sqft |
| 2021-05-01 | 0 days | 1,926 sqft |
| 2021-06-01 | 0 days | 1,981 sqft |
| 2021-07-01 | 0 days | 2,000 sqft |
| 2021-08-01 | 0 days | 2,027 sqft |
| 2021-09-01 | 0 days | 1,951 sqft |
| 2021-10-01 | 0 days | 1,996 sqft |
| 2021-11-01 | 0 days | 1,992 sqft |
| 2021-12-01 | 0 days | 1,912 sqft |
| 2022-01-01 | 0 days | 1,903 sqft |
| 2022-02-01 | 0 days | 1,932 sqft |
| 2022-03-01 | 0 days | 1,751 sqft |
| 2022-04-01 | 0 days | 1,958 sqft |
| 2022-05-01 | 0 days | 2,040 sqft |
| 2022-06-01 | 0 days | 2,219 sqft |
| 2022-07-01 | 0 days | 2,259 sqft |
| 2022-08-01 | 0 days | 2,257 sqft |
| 2022-09-01 | 0 days | 2,234 sqft |
| 2022-10-01 | 0 days | 2,297 sqft |
| 2022-11-01 | 0 days | 2,280 sqft |
| 2022-12-01 | 0 days | 2,260 sqft |
| 2023-01-01 | 0 days | 2,250 sqft |
| 2023-02-01 | 0 days | 2,221 sqft |
| 2023-03-01 | 0 days | 2,223 sqft |
| 2023-04-01 | 0 days | 2,240 sqft |
| 2023-05-01 | 0 days | 2,250 sqft |
| 2023-06-01 | 0 days | 2,293 sqft |
| 2023-07-01 | 0 days | 2,281 sqft |
| 2023-08-01 | 0 days | 2,288 sqft |
| 2023-09-01 | 0 days | 2,114 sqft |
| 2023-10-01 | 0 days | 2,110 sqft |
| 2023-11-01 | 0 days | 2,116 sqft |
| 2023-12-01 | 0 days | 2,105 sqft |
| 2024-01-01 | 0 days | 2,110 sqft |
| 2024-02-01 | 0 days | 2,110 sqft |
| 2024-03-01 | 0 days | 2,063 sqft |
Enterprise's median square footage for active listings during the 2024-03-01 period was 2,063 sqft. One year prior, the average listing was 2,223 sqft.