Gadsden USDA Loans

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 29 lenders originated 111 USDA loans during 2021. The total origination value was $17,935,000, with an average USDA loan value of $161,577.

Gadsden USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Gadsden averaged 5.11% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.24% and one month ago for the week of 2022-04-08, the average rate was 5%.

The average rate one year ago was 2.91%.

For refis of the same type during the week of 2022-05-13, the average rate was 4.93%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Gadsden level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 24 3.15% $4,680
First Federal Bank, A FSB 16 2.84% $3,548
Renasant Bank 14 2.97% $4,837
GMFS LLC 10 2.70% $2,650
GUILD MORTGAGE COMPANY 5 2.95% $6,861
ACOPIA, LLC 4 3.22% $5,372
FirstBank 4 2.69% $5,968
Goldwater Bank, N.A. 3 3.00% $5,482
MORTGAGE INVESTORS GROUP, INC. 3 2.88% $6,181
GUARANTY HOME MORTGAGE CORPORATION 3 2.71% $4,873
VANDERBILT MORTGAGE AND FINANCE, INC. 2 2.94% $4,002
Consumer First Mortgage, Inc. 2 2.56% $5,851
HOMESTAR FINANCIAL CORPORATION 2 3.63% $1,711
LOANDEPOT.COM, LLC 2 3.13% $4,794
SouthPoint Bank 2 2.50% $1,428
TJC Mortgage, Inc. 2 2.94% $5,766
Hometown Lenders, Inc. 1 3.25% $4,458
BancorpSouth Bank 1 3.13% $3,254
CERTAINTY HOME LOANS, LLC 1 3.00% $7,808
Nations Lending Corporation 1 3.25% $2,616
NEWREZ LLC 1 3.25% $4,986
Regions Bank 1 2.75% $4,563
CALIBER HOME LOANS, INC. 1 2.75% $4,178
SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 3.63% $5,175
UNION HOME MORTGAGE CORP. 1 2.50% $4,267
CROSSCOUNTRY MORTGAGE, LLC 1 2.99% $9,787
Hamilton Mortgage Corporation 1 2.25% $1,753
HOME POINT FINANCIAL CORPORATION 1 2.63% $5,222
SUCCESS MORTGAGE PARTNERS, INC. 1 3.13% $5,299

The top Gadsden USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 24 USDA loans originated. Their average total fees are $4,680, which is $1,132 higher than the next largest lender, First Federal Bank, A FSB.

The lowest fee Gadsden USDA lenders (with over 10 loans originated) are GMFS LLC ($2,650), First Federal Bank, A FSB ($3,548), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($4,680), Renasant Bank ($4,837) and .

The lowest rate Gadsden USDA lenders (with over 10 loans originated) are GMFS LLC (2.70%), First Federal Bank, A FSB (2.84%), Renasant Bank (2.97%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (3.15%) and .


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 $156,500 (9.9%) $201,852 (10.1%) 0.00 500
2018-02-01 $159,900 (10.7%) $204,208 (10.5%) 0.00 491
2018-03-01 $159,900 (4.9%) $203,331 (4.9%) 0.00 505
2018-04-01 $159,900 (0.0%) $201,105 (0.0%) 0.00 523
2018-05-01 $154,950 (-3.1%) $197,175 (-2.7%) 0.00 525
2018-06-01 $154,900 (-2.4%) $202,516 (-0.3%) 0.00 530
2018-07-01 $154,900 (3.3%) $201,078 (1.1%) 0.00 562
2018-08-01 $155,425 (0.5%) $199,053 (-0.8%) 0.00 567
2018-09-01 $165,000 (3.2%) $206,027 (1.9%) 0.00 575
2018-10-01 $165,400 (3.4%) $204,744 (1.9%) 0.00 578
2018-11-01 $164,500 (2.9%) $204,512 (0.6%) 0.00 551
2018-12-01 $159,900 (3.2%) $202,222 (2.1%) 0.00 520
2019-01-01 $157,400 (0.6%) $201,244 (-0.3%) 0.00 498
2019-02-01 $152,400 (-4.7%) $198,269 (-2.9%) 0.00 484
2019-03-01 $158,407 (-0.9%) $205,333 (1.0%) 0.00 469
2019-04-01 $169,825 (6.2%) $211,369 (5.1%) 0.00 454
2019-05-01 $177,950 (14.8%) $217,397 (10.3%) 0.00 451
2019-06-01 $179,900 (16.1%) $216,099 (6.7%) 0.00 452
2019-07-01 $179,900 (16.1%) $218,427 (8.6%) 0.00 464
2019-08-01 $176,929 (13.8%) $217,800 (9.4%) 0.00 458
2019-09-01 $176,879 (7.2%) $216,599 (5.1%) 0.00 449
2019-10-01 $169,900 (2.7%) $216,681 (5.8%) 0.00 485
2019-11-01 $179,000 (8.8%) $223,485 (9.3%) 0.00 464
2019-12-01 $182,200 (14.0%) $227,164 (12.3%) 0.00 440
2020-01-01 $174,900 (11.1%) $228,104 (13.4%) 0.00 428
2020-02-01 $174,900 (14.8%) $219,115 (10.5%) 0.00 414
2020-03-01 $189,900 (19.9%) $229,609 (11.8%) 0.00 366
2020-04-01 $194,900 (14.8%) $238,252 (12.7%) 0.00 358
2020-05-01 $189,900 (6.7%) $236,771 (8.9%) 0.00 349
2020-06-01 $199,900 (11.1%) $247,191 (14.4%) 0.00 309
2020-07-01 $199,900 (11.1%) $254,866 (16.7%) 0.00 310
2020-08-01 $189,900 (7.3%) $250,554 (15.0%) 0.00 281
2020-09-01 $189,900 (7.4%) $249,281 (15.1%) 0.00 253
2020-10-01 $179,900 (5.9%) $242,634 (12.0%) 0.00 258
2020-11-01 $179,900 (0.5%) $245,484 (9.8%) 0.00 247
2020-12-01 $179,200 (-1.7%) $249,019 (9.6%) 0.00 238
2021-01-01 $177,700 (1.6%) $247,712 (8.6%) 0.00 197
2021-02-01 $184,900 (5.7%) $255,572 (16.6%) 0.00 154
2021-03-01 $195,000 (2.7%) $260,200 (13.3%) 0.00 141
2021-04-01 $193,600 (-0.7%) $260,742 (9.4%) 0.00 146
2021-05-01 $189,900 (0.0%) $265,362 (12.1%) 0.00 130
2021-06-01 $209,900 (5.0%) $271,110 (9.7%) 0.00 140
2021-07-01 $225,000 (12.6%) $263,534 (3.4%) 0.00 174
2021-08-01 $229,900 (21.1%) $274,635 (9.6%) 0.00 175
2021-09-01 $219,900 (15.8%) $273,087 (9.6%) 0.00 177
2021-10-01 $199,900 (11.1%) $256,408 (5.7%) 0.00 169
2021-11-01 $199,700 (11.0%) $234,550 (-4.5%) 0.00 166
2021-12-01 $189,900 (6.0%) $229,683 (-7.8%) 0.00 161
2022-01-01 $190,000 (6.9%) $241,765 (-2.4%) 0.00 131
2022-02-01 $198,950 (7.6%) $245,362 (-4.0%) 0.00 105
2022-03-01 $172,500 (-11.5%) $199,333 (-23.4%) 0.00 129
2022-04-01 $198,700 (2.6%) $216,082 (-17.1%) 0.00 120
Gadsden's median listing price for 2022-04-01 was $198,700, a difference of $5,100 (2.6%) versus the prior year and $26,200 versus the prior month.

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

Gadsden's average listing price for 2022-04-01 was $216,082, a difference of $-44,660 (-17.1%) versus the prior year and $16,749 versus the prior month.

For the 2022-04-01 period, Gadsden had 120 MLS listings, a difference of -9 listings (-7%) versus the prior month and -26 listings (-18%) 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 1,902 sqft
2018-02-01 0 days 1,920 sqft
2018-03-01 0 days 1,950 sqft
2018-04-01 0 days 1,945 sqft
2018-05-01 0 days 1,942 sqft
2018-06-01 0 days 1,975 sqft
2018-07-01 0 days 1,973 sqft
2018-08-01 0 days 1,925 sqft
2018-09-01 0 days 1,964 sqft
2018-10-01 0 days 1,938 sqft
2018-11-01 0 days 1,931 sqft
2018-12-01 0 days 1,938 sqft
2019-01-01 0 days 1,933 sqft
2019-02-01 0 days 1,911 sqft
2019-03-01 0 days 1,990 sqft
2019-04-01 0 days 2,044 sqft
2019-05-01 0 days 2,100 sqft
2019-06-01 0 days 2,136 sqft
2019-07-01 0 days 2,118 sqft
2019-08-01 0 days 2,096 sqft
2019-09-01 0 days 2,079 sqft
2019-10-01 0 days 2,085 sqft
2019-11-01 0 days 2,133 sqft
2019-12-01 0 days 2,138 sqft
2020-01-01 0 days 2,078 sqft
2020-02-01 0 days 2,040 sqft
2020-03-01 0 days 2,141 sqft
2020-04-01 0 days 2,200 sqft
2020-05-01 0 days 2,196 sqft
2020-06-01 0 days 2,213 sqft
2020-07-01 0 days 2,272 sqft
2020-08-01 0 days 2,200 sqft
2020-09-01 0 days 2,168 sqft
2020-10-01 0 days 2,123 sqft
2020-11-01 0 days 2,115 sqft
2020-12-01 0 days 2,079 sqft
2021-01-01 0 days 2,043 sqft
2021-02-01 0 days 2,120 sqft
2021-03-01 0 days 2,172 sqft
2021-04-01 0 days 2,149 sqft
2021-05-01 0 days 2,100 sqft
2021-06-01 0 days 2,118 sqft
2021-07-01 0 days 2,100 sqft
2021-08-01 0 days 2,081 sqft
2021-09-01 0 days 2,055 sqft
2021-10-01 0 days 2,035 sqft
2021-11-01 0 days 1,981 sqft
2021-12-01 0 days 1,983 sqft
2022-01-01 0 days 1,912 sqft
2022-02-01 0 days 1,963 sqft
2022-03-01 0 days 1,750 sqft
2022-04-01 0 days 1,933 sqft
Gadsden's median listing age (time on market) for 2022-04-01 was 0 days.

Gadsden's median square footage for active listings during the 2022-04-01 period was 1,933 sqft. One year prior, the average listing was 2,149 sqft.