Florence USDA Loan Rates, Closing Costs & Stats

FLORENCE-MUSCLE SHOALS, AL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 6.38% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

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

    The average rate for the prior week (2025-02-07) was 6.53% and one month ago for the week of 2025-01-10, the average rate was 6.28%.

    The average rate one year ago was 6.27%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.44%.

    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 (7.1%) 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 $178,450 (8.2%) $259,430 (15.7%) 0.62 785
    2019-01-01 $174,100 (8.9%) $233,063 (4.7%) 0.60 732
    2019-02-01 $170,543 (6.6%) $229,523 (3.1%) 0.58 740
    2019-03-01 $175,471 (3.3%) $231,659 (1.8%) 0.57 731
    2019-04-01 $182,900 (1.6%) $239,030 (-4.9%) 0.58 724
    2019-05-01 $189,000 (0.0%) $246,023 (-9.7%) 0.59 718
    2019-06-01 $192,920 (4.3%) $253,992 (-6.1%) 0.60 719
    2019-07-01 $195,450 (8.6%) $259,105 (-3.6%) 0.63 693
    2019-08-01 $192,811 (9.0%) $260,214 (-2.6%) 0.62 680
    2019-09-01 $188,178 (4.9%) $260,610 (-1.0%) 0.62 656
    2019-10-01 $185,090 (2.9%) $262,628 (1.1%) 0.61 636
    2019-11-01 $184,738 (1.0%) $256,791 (-2.7%) 0.60 622
    2019-12-01 $178,425 (0.0%) $258,453 (-0.4%) 0.58 586
    2020-01-01 $179,900 (3.3%) $259,439 (11.3%) 0.59 553
    2020-02-01 $184,900 (8.4%) $261,639 (14.0%) 0.61 540
    2020-03-01 $189,250 (7.9%) $269,183 (16.2%) 0.59 512
    2020-04-01 $189,700 (3.7%) $265,213 (11.0%) 0.59 500
    2020-05-01 $214,999 (13.8%) $283,962 (15.4%) 0.64 427
    2020-06-01 $229,950 (19.2%) $299,122 (17.8%) 0.68 361
    2020-07-01 $221,700 (13.4%) $293,788 (13.4%) 0.64 360
    2020-08-01 $209,900 (8.9%) $276,186 (6.1%) 0.60 321
    2020-09-01 $208,450 (10.8%) $281,015 (7.8%) 0.59 298
    2020-10-01 $204,500 (10.5%) $281,346 (7.1%) 0.57 294
    2020-11-01 $192,425 (4.2%) $274,614 (6.9%) 0.56 281
    2020-12-01 $189,900 (6.4%) $272,938 (5.6%) 0.56 267
    2021-01-01 $194,900 (8.3%) $273,846 (5.6%) 0.58 250
    2021-02-01 $184,900 (0.0%) $265,332 (1.4%) 0.54 227
    2021-03-01 $205,063 (8.4%) $273,092 (1.5%) 0.58 197
    2021-04-01 $190,700 (0.5%) $270,315 (1.9%) 0.51 179
    2021-05-01 $174,950 (-18.6%) $282,982 (-0.4%) 0.46 187
    2021-06-01 $189,950 (-17.4%) $299,770 (0.2%) 0.50 213
    2021-07-01 $189,900 (-14.3%) $354,962 (20.8%) 0.50 234
    2021-08-01 $213,650 (1.8%) $391,440 (41.7%) 0.56 267
    2021-09-01 $210,700 (1.1%) $380,094 (35.3%) 0.56 265
    2021-10-01 $199,000 (-2.7%) $366,326 (30.2%) 0.53 254
    2021-11-01 $201,963 (5.0%) $364,078 (32.6%) 0.54 252
    2021-12-01 $199,938 (5.3%) $351,192 (28.7%) 0.54 246
    2022-01-01 $208,950 (7.2%) $387,762 (41.6%) 0.57 198
    2022-02-01 $216,700 (17.2%) $411,789 (55.2%) 0.56 171
    2022-03-01 $199,900 (-2.5%) $391,299 (43.3%) 0.50 181
    2022-04-01 $229,900 (20.6%) $443,966 (64.2%) 0.55 176
    2022-05-01 $274,988 (57.2%) $452,923 (60.1%) 0.63 216
    2022-06-01 $267,450 (40.8%) $404,828 (35.1%) 0.60 255
    2022-07-01 $254,990 (34.3%) $385,678 (8.7%) 0.57 291
    2022-08-01 $261,450 (22.4%) $371,883 (-5.0%) 0.61 289
    2022-09-01 $276,225 (31.1%) $382,283 (0.6%) 0.65 288
    2022-10-01 $284,900 (43.2%) $389,347 (6.3%) 0.67 321
    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 (34.0%) $381,996 (-1.5%) 0.69 305
    2023-02-01 $293,723 (35.5%) $398,270 (-3.3%) 0.71 272
    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 (6.4%) $390,375 (-13.8%) 0.66 262
    2023-06-01 $299,900 (12.1%) $422,943 (4.5%) 0.67 274
    2023-07-01 $314,925 (23.5%) $430,751 (11.7%) 0.72 278
    2023-08-01 $299,900 (14.7%) $434,196 (16.8%) 0.69 299
    2023-09-01 $312,000 (13.0%) $437,213 (14.4%) 0.73 313
    2023-10-01 $302,495 (6.2%) $421,187 (8.2%) 0.71 355
    2023-11-01 $299,975 (10.9%) $409,879 (6.9%) 0.71 377
    2023-12-01 $289,900 (6.4%) $406,210 (8.0%) 0.71 380
    2024-01-01 $293,750 (4.9%) $409,972 (7.3%) 0.72 365
    2024-02-01 $299,945 (2.1%) $407,861 (2.4%) 0.72 334
    2024-03-01 $291,250 (-1.6%) $383,928 (-4.8%) 0.69 355
    2024-04-01 $306,175 (9.4%) $415,623 (9.4%) 0.71 377
    2024-05-01 $322,475 (10.3%) $432,175 (10.7%) 0.76 393
    2024-06-01 $319,000 (6.4%) $416,562 (-1.5%) 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 (-5.4%) 0.74 484
    2024-09-01 $299,900 (-3.9%) $393,328 (-10.0%) 0.71 529
    2024-10-01 $299,900 (-0.9%) $396,653 (-5.8%) 0.71 574
    2024-11-01 $299,900 (0.0%) $402,120 (-1.9%) 0.72 592
    2024-12-01 $294,400 (1.6%) $394,271 (-2.9%) 0.73 590
    2025-01-01 $287,175 (-2.2%) $393,030 (-4.1%) 0.00 559
    Florence's median listing price for 2025-01-01 was $287,175, a difference of $-6,575 (-2.2%) versus the prior year and $-7,225 versus the prior month.

    Florence's median listing price comes in at 0% of the national average.

    Florence's average listing price for 2025-01-01 was $393,030, a difference of $-16,942 (-4.1%) versus the prior year and $-1,241 versus the prior month.

    For the 2025-01-01 period, Florence had 559 MLS listings, a difference of -31 listings (-5%) versus the prior month and 194 listings (53%) 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 2,042 sqft
    2018-11-01 83 days 2,068 sqft
    2018-12-01 93 days 2,021 sqft
    2019-01-01 101 days 2,022 sqft
    2019-02-01 100 days 2,012 sqft
    2019-03-01 89 days 2,015 sqft
    2019-04-01 75 days 2,040 sqft
    2019-05-01 65 days 2,040 sqft
    2019-06-01 65 days 2,100 sqft
    2019-07-01 77 days 2,118 sqft
    2019-08-01 86 days 2,121 sqft
    2019-09-01 92 days 2,109 sqft
    2019-10-01 94 days 2,100 sqft
    2019-11-01 87 days 2,100 sqft
    2019-12-01 73 days 2,008 sqft
    2020-01-01 77 days 2,001 sqft
    2020-02-01 69 days 2,045 sqft
    2020-03-01 61 days 2,002 sqft
    2020-04-01 65 days 1,990 sqft
    2020-05-01 66 days 2,111 sqft
    2020-06-01 64 days 2,225 sqft
    2020-07-01 58 days 2,210 sqft
    2020-08-01 45 days 2,145 sqft
    2020-09-01 49 days 2,081 sqft
    2020-10-01 42 days 2,014 sqft
    2020-11-01 47 days 1,963 sqft
    2020-12-01 67 days 1,896 sqft
    2021-01-01 68 days 1,899 sqft
    2021-02-01 38 days 1,896 sqft
    2021-03-01 37 days 1,900 sqft
    2021-04-01 29 days 1,900 sqft
    2021-05-01 25 days 1,861 sqft
    2021-06-01 27 days 1,850 sqft
    2021-07-01 33 days 1,840 sqft
    2021-08-01 41 days 1,924 sqft
    2021-09-01 44 days 1,941 sqft
    2021-10-01 47 days 1,896 sqft
    2021-11-01 41 days 1,888 sqft
    2021-12-01 53 days 1,876 sqft
    2022-01-01 65 days 1,862 sqft
    2022-02-01 57 days 1,868 sqft
    2022-03-01 32 days 1,821 sqft
    2022-04-01 36 days 1,794 sqft
    2022-05-01 30 days 1,920 sqft
    2022-06-01 33 days 1,950 sqft
    2022-07-01 39 days 1,983 sqft
    2022-08-01 44 days 1,939 sqft
    2022-09-01 51 days 1,938 sqft
    2022-10-01 40 days 1,937 sqft
    2022-11-01 51 days 1,931 sqft
    2022-12-01 64 days 1,911 sqft
    2023-01-01 76 days 1,942 sqft
    2023-02-01 69 days 1,930 sqft
    2023-03-01 65 days 1,965 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 2,200 sqft
    2023-08-01 42 days 2,101 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 2,047 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 2,056 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 1,959 sqft
    2024-11-01 62 days 1,970 sqft
    2024-12-01 76 days 1,938 sqft
    2025-01-01 0 days 1,920 sqft
    Florence's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Florence's median square footage for active listings during the 2025-01-01 period was 1,920 sqft. One year prior, the average listing was 2,043 sqft.