Fort Payne USDA Loan Rates, Closing Costs & Stats
Fort Payne, 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.
Fort Payne's 21 lenders originated 37 USDA loans during 2024. The total origination value was $6,655,000, with an average USDA loan value of $179,865.
Fort Payne USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Fort Payne
averaged
6.57%
for the week of 2025-04-04, compared to the national average (all USDA variants) of
6.324% for the same period.
Fort Payne's average USDA mortgage closing costs are $4,677.
The average rate for the prior week (2025-03-28) was
6.23% and
one month ago for the week of 2025-02-28, the
average rate was 6.48%.
The average rate one year ago was 6.44%.
For refis of the same type during the week of 2025-04-04, the average rate
was 6.23%.
Fort Payne 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 Fort Payne level.
| Name | # of Loans | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| First Federal Bank, A FSB | 5 | 5.85% | $7,238 |
| STOCKTON MORTGAGE CORPORATION | 4 | 6.50% | $7,260 |
| Renasant Bank | 4 | 6.56% | $6,417 |
| UNITED WHOLESALE MORTGAGE, LLC | 3 | 6.04% | $7,713 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 3 | 6.75% | $5,453 |
| FirstBank | 2 | 6.31% | $5,766 |
| UNION HOME MORTGAGE CORP. | 2 | 6.44% | $7,519 |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | 1 | 6.50% | $5,396 |
| LOANDEPOT.COM, LLC | 1 | 6.75% | $5,530 |
| MORTGAGE INVESTORS GROUP, INC. | 1 | 6.50% | $5,551 |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | 1 | 5.99% | $7,144 |
| SWBC MORTGAGE CORPORATION | 1 | 5.63% | $3,249 |
| TJC Mortgage, Inc. | 1 | 6.13% | $5,911 |
| TOWNE MORTGAGE COMPANY | 1 | 6.25% | $7,326 |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | 1 | 6.62% | $7,275 |
| BROKER SOLUTIONS, INC. | 1 | 6.13% | $7,001 |
| CANOPY MORTGAGE, LLC | 1 | 6.38% | $9,238 |
| Colony Bank | 1 | 6.13% | $6,252 |
| EVERETT FINANCIAL, INC. | 1 | 6.13% | $5,404 |
| GMFS LLC | 1 | 6.25% | $7,874 |
| GUILD MORTGAGE COMPANY | 1 | 6.00% | $7,481 |
The top Fort Payne USDA lender as defined by loan originations is First Federal Bank, A FSB, with
5 USDA loans originated. Their average total fees are
$7,238, which is $22
lower than the next largest lender,
STOCKTON MORTGAGE CORPORATION.
The lowest fee Fort Payne USDA lenders (with over 10 loans originated) are
.
The lowest rate Fort Payne USDA lenders (with over 10 loans originated) are
.