Florence USDA Loan Rates, Closing Costs & Stats

FLORENCE-MUSCLE SHOALS, 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.

    Florence's 21 lenders originated 52 USDA loans during 2023. The total origination value was $8,860,000, with an average USDA loan value of $170,385.

    Florence USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Florence averaged 6.45% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

    Florence's average USDA mortgage closing costs are $4,137.

    The average rate for the prior week (2024-12-06) was 6.09% and one month ago for the week of 2024-11-08, the average rate was 6.5%.

    The average rate one year ago was 6.97%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.22%.

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

    Florence 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 Florence level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Trustmark National Bank 13 6.24% $4,854
    Assurance Financial Group, L.L.C. 9 7.03% $5,866
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.00% $5,874
    Wolfe Financial, Inc 3 6.88% $5,855
    MORTGAGE INVESTORS GROUP, INC. 2 6.31% $5,609
    FIRST COMMUNITY MORTGAGE, INC. 2 6.63% $5,096
    United Community Bank 2 6.06% $4,530
    First Federal Bank, A FSB 1 5.50% $8,501
    INTERLINC MORTGAGE SERVICES, LLC 1 6.13% $4,625
    LEADERONE FINANCIAL CORPORATION 1 5.63% $7,020
    American Mortgage & Equity Consultants, Inc. 1 7.63% $3,380
    MOVEMENT MORTGAGE, LLC 1 7.75% $7,834
    NEWREZ LLC 1 6.75% $4,861
    Renasant Bank 1 6.13% $6,785
    SUMMIT FUNDING, INC. 1 6.75% $5,934
    Synovus Bank 1 7.00% $5,704
    THE MORTGAGE LINK, INC. 1 7.63% $10,542
    CB&S Bank, Inc. 1 6.25% $3,454
    UNION HOME MORTGAGE CORP. 1 7.13% $3,958
    Consumer First Mortgage, Inc. 1 6.25% $5,609
    CARDINAL FINANCIAL 1 5.99% $4,562

    The top Florence USDA lender as defined by loan originations is Trustmark National Bank, with 13 USDA loans originated. Their average total fees are $4,854, which is $1,013 lower than the next largest lender, Assurance Financial Group, L.L.C..

    The lowest fee Florence USDA lenders (with over 10 loans originated) are Trustmark National Bank ($4,854), .

    The lowest rate Florence USDA lenders (with over 10 loans originated) are Trustmark National Bank (6.24%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Florence (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 (6.7%) $222,573 (8.6%) 0.59 767
    2018-02-01 $159,925 (6.7%) $222,691 (7.2%) 0.58 774
    2018-03-01 $169,900 (6.3%) $227,548 (4.6%) 0.60 736
    2018-04-01 $179,950 (9.1%) $251,286 (12.9%) 0.61 751
    2018-05-01 $189,000 (17.5%) $272,438 (23.1%) 0.63 759
    2018-06-01 $185,000 (15.7%) $270,424 (23.1%) 0.62 757
    2018-07-01 $179,900 (10.2%) $268,876 (21.9%) 0.60 777
    2018-08-01 $176,950 (5.4%) $267,241 (20.4%) 0.59 774
    2018-09-01 $179,400 (6.5%) $263,223 (17.2%) 0.60 789
    2018-10-01 $179,925 (9.0%) $259,854 (16.1%) 0.61 800
    2018-11-01 $182,913 (12.2%) $263,796 (19.3%) 0.62 799
    2018-12-01 $178,950 (8.5%) $259,554 (15.8%) 0.62 787
    2019-01-01 $174,800 (9.3%) $233,261 (4.8%) 0.60 734
    2019-02-01 $170,950 (6.9%) $229,725 (3.2%) 0.58 742
    2019-03-01 $175,707 (3.4%) $231,823 (1.9%) 0.57 733
    2019-04-01 $183,575 (2.0%) $239,113 (-4.8%) 0.58 727
    2019-05-01 $189,000 (0.0%) $246,167 (-9.6%) 0.59 720
    2019-06-01 $193,410 (4.6%) $253,992 (-6.1%) 0.60 718
    2019-07-01 $199,900 (11.1%) $265,138 (-1.4%) 0.63 642
    2019-08-01 $197,145 (11.4%) $266,518 (-0.3%) 0.62 597
    2019-09-01 $193,014 (7.6%) $267,401 (1.6%) 0.62 527
    2019-10-01 $189,850 (5.5%) $268,469 (3.3%) 0.61 486
    2019-11-01 $183,700 (0.4%) $256,644 (-2.7%) 0.60 502
    2019-12-01 $174,900 (-2.3%) $256,048 (-1.4%) 0.58 499
    2020-01-01 $176,675 (1.1%) $256,488 (10.0%) 0.59 481
    2020-02-01 $184,950 (8.2%) $259,766 (13.1%) 0.61 488
    2020-03-01 $189,075 (7.6%) $267,884 (15.6%) 0.59 480
    2020-04-01 $189,700 (3.3%) $263,658 (10.3%) 0.59 480
    2020-05-01 $209,900 (11.1%) $281,953 (14.5%) 0.64 413
    2020-06-01 $229,950 (18.9%) $298,354 (17.5%) 0.68 354
    2020-07-01 $220,800 (10.5%) $292,957 (10.5%) 0.64 354
    2020-08-01 $209,900 (6.5%) $275,920 (3.5%) 0.60 314
    2020-09-01 $207,425 (7.5%) $280,171 (4.8%) 0.59 294
    2020-10-01 $199,900 (5.3%) $280,484 (4.5%) 0.57 290
    2020-11-01 $192,400 (4.7%) $273,494 (6.6%) 0.56 278
    2020-12-01 $189,900 (8.6%) $271,727 (6.1%) 0.56 264
    2021-01-01 $194,900 (10.3%) $271,840 (6.0%) 0.58 248
    2021-02-01 $184,650 (-0.2%) $263,100 (1.3%) 0.54 226
    2021-03-01 $202,725 (7.2%) $270,662 (1.0%) 0.58 196
    2021-04-01 $189,450 (-0.1%) $267,647 (1.5%) 0.51 178
    2021-05-01 $174,950 (-16.7%) $282,982 (0.4%) 0.46 187
    2021-06-01 $189,950 (-17.4%) $299,146 (0.3%) 0.50 214
    2021-07-01 $189,900 (-14.0%) $354,161 (20.9%) 0.50 235
    2021-08-01 $209,900 (0.0%) $388,954 (41.0%) 0.56 270
    2021-09-01 $209,450 (1.0%) $378,519 (35.1%) 0.56 266
    2021-10-01 $199,000 (-0.5%) $366,326 (30.6%) 0.53 254
    2021-11-01 $201,963 (5.0%) $364,078 (33.1%) 0.54 252
    2021-12-01 $199,938 (5.3%) $351,192 (29.2%) 0.54 246
    2022-01-01 $209,900 (7.7%) $387,068 (42.4%) 0.57 198
    2022-02-01 $216,700 (17.4%) $411,789 (56.5%) 0.56 171
    2022-03-01 $199,900 (-1.4%) $391,299 (44.6%) 0.50 181
    2022-04-01 $229,900 (21.4%) $443,966 (65.9%) 0.55 176
    2022-05-01 $276,725 (58.2%) $453,316 (60.2%) 0.63 217
    2022-06-01 $267,450 (40.8%) $405,333 (35.5%) 0.60 256
    2022-07-01 $254,995 (34.3%) $386,192 (9.0%) 0.57 292
    2022-08-01 $261,950 (24.8%) $372,441 (-4.3%) 0.61 290
    2022-09-01 $277,450 (32.5%) $382,810 (1.1%) 0.65 289
    2022-10-01 $284,900 (43.2%) $389,521 (6.3%) 0.67 322
    2022-11-01 $270,425 (33.9%) $383,295 (5.3%) 0.65 345
    2022-12-01 $272,495 (36.3%) $376,016 (7.1%) 0.67 324
    2023-01-01 $279,950 (33.4%) $381,996 (-1.3%) 0.69 305
    2023-02-01 $294,323 (35.8%) $397,733 (-3.4%) 0.71 273
    2023-03-01 $295,973 (48.1%) $403,245 (3.1%) 0.70 276
    2023-04-01 $279,900 (21.8%) $379,941 (-14.4%) 0.65 268
    2023-05-01 $292,475 (5.7%) $390,375 (-13.9%) 0.66 262
    2023-06-01 $299,900 (12.1%) $422,763 (4.3%) 0.67 274
    2023-07-01 $314,925 (23.5%) $430,751 (11.5%) 0.72 278
    2023-08-01 $299,900 (14.5%) $433,851 (16.5%) 0.69 300
    2023-09-01 $312,000 (12.5%) $437,213 (14.2%) 0.73 314
    2023-10-01 $302,495 (6.2%) $421,187 (8.1%) 0.71 355
    2023-11-01 $299,950 (10.9%) $409,692 (6.9%) 0.71 377
    2023-12-01 $289,900 (6.4%) $405,851 (7.9%) 0.71 381
    2024-01-01 $293,750 (4.9%) $409,972 (7.3%) 0.72 365
    2024-02-01 $299,945 (1.9%) $407,861 (2.6%) 0.72 334
    2024-03-01 $291,250 (-1.6%) $383,928 (-4.8%) 0.69 356
    2024-04-01 $306,175 (9.4%) $415,623 (9.4%) 0.71 377
    2024-05-01 $337,150 (15.3%) $439,125 (12.5%) 0.76 393
    2024-06-01 $324,900 (8.3%) $424,704 (0.5%) 0.73 431
    2024-07-01 $314,850 (0.0%) $421,506 (-2.2%) 0.72 459
    2024-08-01 $317,500 (5.9%) $410,886 (-5.3%) 0.74 484
    2024-09-01 $299,900 (-3.9%) $393,559 (-10.0%) 0.71 530
    2024-10-01 $299,913 (-0.9%) $396,866 (-5.8%) 0.71 575
    2024-11-01 $299,900 (0.0%) $402,316 (-1.8%) 0.72 592
    Florence's median listing price for 2024-11-01 was $299,900, a difference of $-50 (0.0%) versus the prior year and $-13 versus the prior month.

    Florence's median listing price comes in at 72% of the national average.

    Florence's average listing price for 2024-11-01 was $402,316, a difference of $-7,376 (-1.8%) versus the prior year and $5,450 versus the prior month.

    For the 2024-11-01 period, Florence had 592 MLS listings, a difference of 17 listings (3%) versus the prior month and 215 listings (57%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Florence (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 85 days 2,000 sqft
    2018-02-01 81 days 2,000 sqft
    2018-03-01 75 days 1,990 sqft
    2018-04-01 72 days 2,025 sqft
    2018-05-01 71 days 2,036 sqft
    2018-06-01 71 days 2,030 sqft
    2018-07-01 76 days 2,028 sqft
    2018-08-01 70 days 2,045 sqft
    2018-09-01 68 days 2,047 sqft
    2018-10-01 74 days 2,044 sqft
    2018-11-01 83 days 2,068 sqft
    2018-12-01 93 days 2,022 sqft
    2019-01-01 101 days 2,026 sqft
    2019-02-01 100 days 2,014 sqft
    2019-03-01 89 days 2,017 sqft
    2019-04-01 75 days 2,042 sqft
    2019-05-01 65 days 2,042 sqft
    2019-06-01 65 days 2,100 sqft
    2019-07-01 77 days 2,152 sqft
    2019-08-01 86 days 2,147 sqft
    2019-09-01 92 days 2,126 sqft
    2019-10-01 94 days 2,106 sqft
    2019-11-01 87 days 2,098 sqft
    2019-12-01 73 days 2,000 sqft
    2020-01-01 77 days 1,990 sqft
    2020-02-01 69 days 2,045 sqft
    2020-03-01 61 days 2,026 sqft
    2020-04-01 65 days 1,999 sqft
    2020-05-01 66 days 2,120 sqft
    2020-06-01 64 days 2,235 sqft
    2020-07-01 58 days 2,211 sqft
    2020-08-01 45 days 2,142 sqft
    2020-09-01 49 days 2,082 sqft
    2020-10-01 42 days 2,029 sqft
    2020-11-01 47 days 1,959 sqft
    2020-12-01 67 days 1,892 sqft
    2021-01-01 68 days 1,894 sqft
    2021-02-01 38 days 1,892 sqft
    2021-03-01 37 days 1,900 sqft
    2021-04-01 29 days 1,900 sqft
    2021-05-01 25 days 1,865 sqft
    2021-06-01 27 days 1,854 sqft
    2021-07-01 33 days 1,844 sqft
    2021-08-01 41 days 1,925 sqft
    2021-09-01 44 days 1,947 sqft
    2021-10-01 47 days 1,907 sqft
    2021-11-01 41 days 1,888 sqft
    2021-12-01 53 days 1,876 sqft
    2022-01-01 65 days 1,850 sqft
    2022-02-01 57 days 1,868 sqft
    2022-03-01 32 days 1,842 sqft
    2022-04-01 36 days 1,819 sqft
    2022-05-01 30 days 1,950 sqft
    2022-06-01 33 days 1,950 sqft
    2022-07-01 39 days 1,985 sqft
    2022-08-01 44 days 1,943 sqft
    2022-09-01 51 days 1,941 sqft
    2022-10-01 40 days 1,938 sqft
    2022-11-01 51 days 1,930 sqft
    2022-12-01 64 days 1,911 sqft
    2023-01-01 76 days 1,941 sqft
    2023-02-01 69 days 1,924 sqft
    2023-03-01 65 days 1,964 sqft
    2023-04-01 60 days 1,970 sqft
    2023-05-01 50 days 2,025 sqft
    2023-06-01 50 days 2,115 sqft
    2023-07-01 52 days 2,217 sqft
    2023-08-01 42 days 2,109 sqft
    2023-09-01 52 days 2,100 sqft
    2023-10-01 47 days 2,054 sqft
    2023-11-01 50 days 2,051 sqft
    2023-12-01 66 days 2,049 sqft
    2024-01-01 77 days 2,043 sqft
    2024-02-01 74 days 2,045 sqft
    2024-03-01 52 days 2,032 sqft
    2024-04-01 47 days 2,038 sqft
    2024-05-01 46 days 2,085 sqft
    2024-06-01 50 days 2,030 sqft
    2024-07-01 53 days 1,990 sqft
    2024-08-01 53 days 1,969 sqft
    2024-09-01 52 days 1,940 sqft
    2024-10-01 53 days 1,960 sqft
    2024-11-01 62 days 1,971 sqft
    Florence's median listing age (time on market) for 2024-11-01 was 62 days. This is 25% longer than the same period one year ago.

    Florence's median square footage for active listings during the 2024-11-01 period was 1,971 sqft. One year prior, the average listing was 2,051 sqft.