Gadsden USDA Loan Rates, Closing Costs & Stats

GADSDEN, 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.

Gadsden's 19 lenders originated 48 USDA loans during 2023. The total origination value was $8,490,000, with an average USDA loan value of $176,875.

Gadsden USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Gadsden averaged 6.57% for the week of 2024-05-17, compared to the national average (all USDA variants) of 6.75% for the same period.

Gadsden's average USDA mortgage closing costs are $4,166.

The average rate for the prior week (2024-05-10) was 6.7% and one month ago for the week of 2024-04-12, the average rate was 6.73%.

The average rate one year ago was 6.21%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.5%.

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

Gadsden 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 Gadsden level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.28% $6,051
GMFS LLC 9 6.58% $2,534
First Federal Bank, A FSB 8 5.95% $6,537
GUILD MORTGAGE COMPANY 4 6.66% $6,129
HUNT MORTGAGE CORPORATION 2 7.25% $5,740
Renasant Bank 2 6.56% $4,311
FirstBank 2 6.63% $8,310
MOVEMENT MORTGAGE, LLC 1 7.13% $7,632
NEWREZ LLC 1 5.75% $11,333
PLAZA HOME MORTGAGE, INC. 1 5.63% $3,183
SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $7,074
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $8,591
UNION HOME MORTGAGE CORP. 1 6.13% $5,360
BROKER SOLUTIONS, INC. 1 7.13% $10,173
DHI MORTGAGE COMPANY, LTD. 1 5.25% $4,487
Hamilton Mortgage Corporation 1 5.75% $4,350
INSPIRE HOME LOANS INC. 1 5.38% $6,594
LEADERONE FINANCIAL CORPORATION 1 6.63% $7,245
MORTGAGE INVESTORS GROUP, INC. 1 6.63% $5,835

The top Gadsden USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 9 USDA loans originated. Their average total fees are $6,051, which is $3,517 higher than the next largest lender, GMFS LLC.

The lowest fee Gadsden USDA lenders (with over 10 loans originated) are .

The lowest rate Gadsden USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Gadsden (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 $148,450 (8.4%) $189,116 (9.4%) 0.00 450
2018-02-01 $152,738 (13.0%) $192,205 (11.1%) 0.00 449
2018-03-01 $155,000 (5.4%) $193,312 (6.6%) 0.00 455
2018-04-01 $155,175 (3.5%) $191,110 (1.6%) 0.00 472
2018-05-01 $149,700 (-0.1%) $187,542 (-0.9%) 0.00 473
2018-06-01 $149,900 (0.0%) $191,817 (2.2%) 0.00 475
2018-07-01 $149,900 (0.0%) $192,571 (4.0%) 0.00 508
2018-08-01 $149,900 (0.6%) $189,307 (1.9%) 0.00 517
2018-09-01 $159,900 (4.2%) $195,883 (2.5%) 0.00 521
2018-10-01 $159,900 (3.2%) $195,499 (2.7%) 0.00 522
2018-11-01 $159,900 (3.4%) $195,784 (2.2%) 0.00 500
2018-12-01 $155,900 (4.0%) $193,873 (3.2%) 0.00 473
2019-01-01 $149,900 (1.0%) $191,527 (1.3%) 0.00 449
2019-02-01 $149,675 (-2.0%) $188,608 (-1.9%) 0.00 438
2019-03-01 $155,757 (0.5%) $193,994 (0.4%) 0.00 422
2019-04-01 $164,900 (6.3%) $198,598 (3.9%) 0.00 404
2019-05-01 $169,900 (13.5%) $204,806 (9.2%) 0.00 397
2019-06-01 $174,700 (16.5%) $204,496 (6.6%) 0.00 399
2019-07-01 $174,900 (16.7%) $207,933 (8.0%) 0.00 412
2019-08-01 $169,936 (13.4%) $206,077 (8.9%) 0.00 419
2019-09-01 $164,291 (2.8%) $204,714 (4.5%) 0.00 426
2019-10-01 $160,425 (0.3%) $203,894 (4.3%) 0.00 431
2019-11-01 $169,900 (6.3%) $207,990 (6.2%) 0.00 402
2019-12-01 $169,900 (9.0%) $210,659 (8.7%) 0.00 380
2020-01-01 $169,900 (13.3%) $213,145 (11.3%) 0.00 367
2020-02-01 $165,000 (10.2%) $208,079 (10.3%) 0.00 355
2020-03-01 $179,900 (15.5%) $218,205 (12.5%) 0.00 311
2020-04-01 $183,075 (11.0%) $222,147 (11.9%) 0.00 299
2020-05-01 $179,900 (5.9%) $223,599 (9.2%) 0.00 289
2020-06-01 $184,425 (5.6%) $227,804 (11.4%) 0.00 268
2020-07-01 $189,900 (8.6%) $234,581 (12.8%) 0.00 266
2020-08-01 $175,000 (3.0%) $231,744 (12.5%) 0.00 242
2020-09-01 $172,400 (4.9%) $229,737 (12.2%) 0.00 214
2020-10-01 $169,900 (5.9%) $227,044 (11.4%) 0.00 213
2020-11-01 $169,900 (0.0%) $229,932 (10.6%) 0.00 206
2020-12-01 $169,900 (0.0%) $230,414 (9.4%) 0.00 202
2021-01-01 $168,900 (-0.6%) $232,090 (8.9%) 0.00 173
2021-02-01 $177,450 (7.6%) $243,861 (17.2%) 0.00 136
2021-03-01 $185,550 (3.1%) $251,617 (15.3%) 0.00 127
2021-04-01 $188,900 (3.2%) $253,225 (14.0%) 0.00 136
2021-05-01 $187,900 (4.5%) $260,142 (16.3%) 0.00 118
2021-06-01 $207,500 (12.5%) $265,886 (16.7%) 0.00 128
2021-07-01 $229,900 (21.1%) $264,011 (12.6%) 0.00 167
2021-08-01 $231,150 (32.1%) $273,704 (18.1%) 0.00 170
2021-09-01 $222,475 (29.1%) $272,359 (18.6%) 0.00 166
2021-10-01 $199,900 (17.7%) $258,212 (13.7%) 0.00 160
2021-11-01 $199,900 (17.7%) $239,881 (4.3%) 0.00 160
2021-12-01 $189,900 (11.8%) $233,642 (1.4%) 0.00 155
2022-01-01 $198,000 (17.2%) $247,562 (6.7%) 0.00 123
2022-02-01 $205,725 (15.9%) $247,703 (1.6%) 0.00 101
2022-03-01 $174,450 (-6.0%) $201,022 (-20.1%) 0.00 128
2022-04-01 $192,400 (1.9%) $215,856 (-14.8%) 0.00 120
2022-05-01 $231,175 (23.0%) $258,654 (-0.6%) 0.00 162
2022-06-01 $219,900 (6.0%) $267,037 (0.4%) 0.00 172
2022-07-01 $224,900 (-2.2%) $245,569 (-7.0%) 0.00 203
2022-08-01 $229,945 (-0.5%) $256,177 (-6.4%) 0.00 213
2022-09-01 $226,000 (1.6%) $264,485 (-2.9%) 0.00 230
2022-10-01 $225,198 (12.7%) $258,700 (0.2%) 0.00 233
2022-11-01 $225,000 (12.6%) $258,928 (7.9%) 0.00 243
2022-12-01 $226,950 (19.5%) $259,629 (11.1%) 0.00 220
2023-01-01 $224,900 (13.6%) $255,285 (3.1%) 0.00 191
2023-02-01 $224,950 (9.3%) $258,429 (4.3%) 0.00 190
2023-03-01 $214,450 (22.9%) $245,865 (22.3%) 0.00 184
2023-04-01 $237,000 (23.2%) $272,933 (26.4%) 0.00 166
2023-05-01 $223,475 (-3.3%) $255,303 (-1.3%) 0.00 186
2023-06-01 $220,600 (0.3%) $255,577 (-4.3%) 0.00 188
2023-07-01 $220,000 (-2.2%) $263,839 (7.4%) 0.00 187
2023-08-01 $229,925 (0.0%) $288,831 (12.8%) 0.00 194
2023-09-01 $229,900 (1.7%) $280,021 (5.9%) 0.00 199
2023-10-01 $223,725 (-0.7%) $277,651 (7.3%) 0.00 218
2023-11-01 $237,725 (5.7%) $293,773 (13.5%) 0.00 225
2023-12-01 $230,950 (1.8%) $290,317 (11.8%) 0.00 231
2024-01-01 $248,225 (10.4%) $301,002 (17.9%) 0.00 220
2024-02-01 $252,225 (12.1%) $301,817 (16.8%) 0.00 217
2024-03-01 $248,950 (16.1%) $296,370 (20.5%) 0.00 236
2024-04-01 $247,450 (4.4%) $290,126 (6.3%) 0.00 241
Gadsden's median listing price for 2024-04-01 was $247,450, a difference of $10,450 (4.4%) versus the prior year and $-1,500 versus the prior month.

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

Gadsden's average listing price for 2024-04-01 was $290,126, a difference of $17,193 (6.3%) versus the prior year and $-6,244 versus the prior month.

For the 2024-04-01 period, Gadsden had 241 MLS listings, a difference of 5 listings (2%) versus the prior month and 75 listings (45%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Gadsden (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,884 sqft
2018-02-01 0 days 1,900 sqft
2018-03-01 0 days 1,900 sqft
2018-04-01 0 days 1,897 sqft
2018-05-01 0 days 1,879 sqft
2018-06-01 0 days 1,900 sqft
2018-07-01 0 days 1,900 sqft
2018-08-01 0 days 1,872 sqft
2018-09-01 0 days 1,900 sqft
2018-10-01 0 days 1,900 sqft
2018-11-01 0 days 1,900 sqft
2018-12-01 0 days 1,900 sqft
2019-01-01 0 days 1,891 sqft
2019-02-01 0 days 1,885 sqft
2019-03-01 0 days 1,942 sqft
2019-04-01 0 days 2,000 sqft
2019-05-01 0 days 2,028 sqft
2019-06-01 0 days 2,084 sqft
2019-07-01 0 days 2,091 sqft
2019-08-01 0 days 2,065 sqft
2019-09-01 0 days 2,033 sqft
2019-10-01 0 days 2,017 sqft
2019-11-01 0 days 2,052 sqft
2019-12-01 0 days 2,059 sqft
2020-01-01 0 days 2,009 sqft
2020-02-01 0 days 2,000 sqft
2020-03-01 0 days 2,075 sqft
2020-04-01 0 days 2,110 sqft
2020-05-01 0 days 2,110 sqft
2020-06-01 0 days 2,118 sqft
2020-07-01 0 days 2,160 sqft
2020-08-01 0 days 2,100 sqft
2020-09-01 0 days 2,053 sqft
2020-10-01 0 days 2,035 sqft
2020-11-01 0 days 2,086 sqft
2020-12-01 0 days 2,021 sqft
2021-01-01 0 days 2,000 sqft
2021-02-01 0 days 2,064 sqft
2021-03-01 0 days 2,145 sqft
2021-04-01 0 days 2,120 sqft
2021-05-01 0 days 2,095 sqft
2021-06-01 0 days 2,105 sqft
2021-07-01 0 days 2,100 sqft
2021-08-01 0 days 2,094 sqft
2021-09-01 0 days 2,058 sqft
2021-10-01 0 days 2,045 sqft
2021-11-01 0 days 1,998 sqft
2021-12-01 0 days 1,992 sqft
2022-01-01 0 days 1,936 sqft
2022-02-01 0 days 1,973 sqft
2022-03-01 0 days 1,753 sqft
2022-04-01 0 days 1,915 sqft
2022-05-01 0 days 1,919 sqft
2022-06-01 0 days 1,918 sqft
2022-07-01 0 days 1,936 sqft
2022-08-01 0 days 1,934 sqft
2022-09-01 0 days 1,931 sqft
2022-10-01 0 days 1,904 sqft
2022-11-01 0 days 1,975 sqft
2022-12-01 0 days 1,975 sqft
2023-01-01 0 days 1,969 sqft
2023-02-01 0 days 1,970 sqft
2023-03-01 0 days 1,938 sqft
2023-04-01 0 days 2,100 sqft
2023-05-01 0 days 1,953 sqft
2023-06-01 0 days 1,919 sqft
2023-07-01 0 days 1,946 sqft
2023-08-01 0 days 1,962 sqft
2023-09-01 0 days 1,934 sqft
2023-10-01 0 days 1,874 sqft
2023-11-01 0 days 1,899 sqft
2023-12-01 0 days 1,958 sqft
2024-01-01 0 days 2,007 sqft
2024-02-01 0 days 1,983 sqft
2024-03-01 0 days 1,894 sqft
2024-04-01 0 days 1,877 sqft
Gadsden's median listing age (time on market) for 2024-04-01 was 0 days.

Gadsden's median square footage for active listings during the 2024-04-01 period was 1,877 sqft. One year prior, the average listing was 2,100 sqft.