Gillette USDA Loan Rates, Closing Costs & Stats
Gillette, WY
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.
Gillette's 8 lenders originated 32 USDA loans during 2023. The total origination value was $6,850,000, with an average USDA loan value of $214,063.
Gillette USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Gillette
averaged
6.28%
for the week of 2024-11-08, compared to the national average (all USDA variants) of
6.477% for the same period.
Gillette's average USDA mortgage closing costs are $6,731.
The average rate for the prior week (2024-11-01) was
6.25% and
one month ago for the week of 2024-10-04, the
average rate was 6.08%.
The average rate one year ago was 7.22%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.68%.
Gillette 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 Gillette level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| BAY EQUITY LLC | 12 | 6.35% | $8,232 |
| Pinnacle Bank - Wyoming | 5 | 5.80% | $6,397 |
| UNITED WHOLESALE MORTGAGE, LLC | 5 | 6.15% | $6,664 |
| Unify Home Lending Inc. | 3 | 6.42% | $2,979 |
| PLAZA HOME MORTGAGE, INC. | 2 | 5.88% | $5,789 |
| UNION HOME MORTGAGE CORP. | 2 | 6.69% | $11,646 |
| Plains Commerce Bank | 1 | 5.75% | $6,613 |
| First Interstate Bank | 1 | 5.38% | $3,820 |
The top Gillette USDA lender as defined by loan originations is BAY EQUITY LLC, with
12 USDA loans originated. Their average total fees are
$8,232, which is $1,835
higher than the next largest lender,
Pinnacle Bank - Wyoming.
The lowest fee Gillette USDA lenders (with over 10 loans originated) are
BAY EQUITY LLC ($8,232), .
The lowest rate Gillette USDA lenders (with over 10 loans originated) are
BAY EQUITY LLC (6.35%), .