Hammond USDA Loan Rates, Closing Costs & Stats

HAMMOND, LA

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.

Hammond's 31 lenders originated 120 USDA loans during 2023. The total origination value was $27,210,000, with an average USDA loan value of $226,750.

Hammond USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Hammond averaged 6.43% for the week of 2024-07-12, compared to the national average (all USDA variants) of 6.672% for the same period.

Hammond's average USDA mortgage closing costs are $4,963.

The average rate for the prior week (2024-07-05) was 6.79% and one month ago for the week of 2024-06-07, the average rate was 6.36%.

The average rate one year ago was 6.44%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.51%.

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

Hammond 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 Hammond level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
GMFS LLC 19 6.29% $5,806
DSLD MORTGAGE, LLC 15 6.17% $3,338
NEWREZ LLC 9 6.33% $6,698
MID AMERICA MORTGAGE, INC. 8 6.69% $7,500
Gulf Coast Bank and Trust Company 7 6.64% $7,046
UNITED WHOLESALE MORTGAGE, LLC 7 6.07% $9,094
MOVEMENT MORTGAGE, LLC 6 6.50% $7,294
CARDINAL FINANCIAL 6 6.16% $7,479
EUSTIS AND AMERICAN MORTGAGE COMPANY 4 7.02% $6,734
DHI MORTGAGE COMPANY, LTD. 4 5.06% $5,717
FIDELITY BANK 3 6.26% $7,558
Hancock Whitney Bank 3 6.46% $5,943
DRAPER AND KRAMER MORTGAGE CORP. 3 6.41% $6,954
First Horizon Bank 2 6.13% $7,821
STANDARD MORTGAGE CORPORATION 2 5.79% $6,157
SUMMIT FUNDING, INC. 2 6.13% $12,565
SUN WEST MORTGAGE COMPANY, INC. 2 5.86% $8,178
Goldwater Bank, N.A. 1 6.63% $7,596
Assurance Financial Group, L.L.C. 1 6.13% $8,636
BankPlus 1 6.25% $3,997
Citizens Bank 1 6.25% $7,635
CROSSCOUNTRY MORTGAGE, LLC 1 7.13% $6,577
Flagstar Bank, FSB 1 6.71% $8,821
FREEDOM MORTGAGE CORPORATION 1 6.75% $10,559
AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $6,073
GUARANTEED RATE, INC. 1 6.25% $7,049
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $7,827
Plains Commerce Bank 1 6.63% $5,895
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $7,667
Regions Bank 1 6.25% $7,679
SECURITYNATIONAL MORTGAGE COMPANY 1 5.63% $13,194

The top Hammond USDA lender as defined by loan originations is GMFS LLC, with 19 USDA loans originated. Their average total fees are $5,806, which is $2,468 higher than the next largest lender, DSLD MORTGAGE, LLC.

The lowest fee Hammond USDA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($3,338), GMFS LLC ($5,806), .

The lowest rate Hammond USDA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC (6.17%), GMFS LLC (6.29%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Hammond (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 $189,900 (0.6%) $236,658 (-0.6%) 0.00 479
2018-02-01 $189,450 (0.7%) $234,002 (-1.4%) 0.00 490
2018-03-01 $190,048 (1.5%) $235,317 (-1.3%) 0.00 495
2018-04-01 $190,023 (0.0%) $234,493 (-3.4%) 0.00 503
2018-05-01 $193,725 (-2.0%) $236,457 (-0.9%) 0.00 512
2018-06-01 $189,000 (-4.1%) $230,289 (-3.5%) 0.00 549
2018-07-01 $189,278 (-2.1%) $230,867 (-5.6%) 0.00 540
2018-08-01 $188,700 (-2.1%) $229,970 (-4.3%) 0.00 539
2018-09-01 $185,000 (-2.6%) $225,706 (-5.4%) 0.00 570
2018-10-01 $187,143 (-3.2%) $235,057 (-4.1%) 0.00 580
2018-11-01 $188,675 (-0.7%) $236,192 (-4.0%) 0.00 604
2018-12-01 $189,305 (-2.9%) $234,586 (-3.3%) 0.00 615
2019-01-01 $183,445 (-3.4%) $232,927 (-1.6%) 0.00 607
2019-02-01 $184,950 (-2.4%) $234,559 (0.2%) 0.00 605
2019-03-01 $186,821 (-1.7%) $235,224 (0.0%) 0.00 603
2019-04-01 $189,625 (-0.2%) $235,735 (0.5%) 0.00 594
2019-05-01 $196,475 (1.4%) $241,105 (2.0%) 0.00 572
2019-06-01 $199,000 (5.3%) $241,691 (5.0%) 0.00 595
2019-07-01 $199,000 (5.1%) $239,779 (3.9%) 0.00 602
2019-08-01 $198,123 (5.0%) $240,368 (4.5%) 0.00 597
2019-09-01 $196,806 (6.4%) $242,064 (7.3%) 0.00 585
2019-10-01 $197,538 (5.6%) $243,195 (3.5%) 0.00 559
2019-11-01 $195,550 (3.6%) $244,582 (3.6%) 0.00 539
2019-12-01 $193,925 (2.4%) $245,270 (4.6%) 0.00 518
2020-01-01 $190,950 (4.1%) $243,140 (4.4%) 0.00 490
2020-02-01 $190,000 (2.7%) $251,243 (7.1%) 0.00 468
2020-03-01 $198,950 (6.5%) $257,846 (9.6%) 0.00 454
2020-04-01 $201,900 (6.5%) $258,674 (9.7%) 0.00 450
2020-05-01 $207,900 (5.8%) $261,567 (8.5%) 0.00 392
2020-06-01 $223,900 (12.5%) $279,829 (15.8%) 0.00 318
2020-07-01 $224,875 (13.0%) $278,316 (16.1%) 0.00 300
2020-08-01 $224,950 (13.5%) $274,844 (14.3%) 0.00 285
2020-09-01 $228,358 (16.0%) $278,599 (15.1%) 0.00 270
2020-10-01 $220,000 (11.4%) $287,076 (18.0%) 0.00 228
2020-11-01 $229,000 (17.1%) $296,914 (21.4%) 0.00 216
2020-12-01 $234,475 (20.9%) $311,754 (27.1%) 0.00 204
2021-01-01 $235,000 (23.1%) $318,152 (30.9%) 0.00 176
2021-02-01 $234,170 (23.3%) $334,900 (33.3%) 0.00 157
2021-03-01 $236,750 (19.0%) $335,953 (30.3%) 0.00 156
2021-04-01 $237,250 (17.5%) $336,238 (30.0%) 0.00 153
2021-05-01 $240,000 (15.4%) $351,978 (34.6%) 0.00 147
2021-06-01 $265,000 (18.4%) $371,407 (32.7%) 0.00 143
2021-07-01 $267,000 (18.7%) $357,443 (28.4%) 0.00 152
2021-08-01 $256,950 (14.2%) $345,695 (25.8%) 0.00 164
2021-09-01 $267,225 (17.0%) $361,991 (29.9%) 0.00 151
2021-10-01 $264,058 (20.0%) $365,974 (27.5%) 0.00 134
2021-11-01 $248,250 (8.4%) $350,289 (18.0%) 0.00 127
2021-12-01 $249,250 (6.3%) $358,504 (15.0%) 0.00 121
2022-01-01 $238,753 (1.6%) $358,986 (12.8%) 0.00 115
2022-02-01 $253,725 (8.4%) $377,775 (12.8%) 0.00 86
2022-03-01 $264,556 (11.7%) $365,165 (8.7%) 0.00 111
2022-04-01 $256,225 (8.0%) $365,531 (8.7%) 0.00 142
2022-05-01 $268,603 (11.9%) $379,250 (7.8%) 0.00 153
2022-06-01 $257,681 (-2.8%) $361,728 (-2.6%) 0.00 182
2022-07-01 $256,863 (-3.8%) $343,710 (-3.8%) 0.00 226
2022-08-01 $260,975 (1.6%) $332,010 (-4.0%) 0.00 238
2022-09-01 $259,450 (-2.9%) $328,199 (-9.3%) 0.00 259
2022-10-01 $250,000 (-5.3%) $318,973 (-12.8%) 0.00 284
2022-11-01 $252,450 (1.7%) $310,964 (-11.2%) 0.00 276
2022-12-01 $259,900 (4.3%) $305,428 (-14.8%) 0.00 276
2023-01-01 $260,290 (9.0%) $299,034 (-16.7%) 0.00 284
2023-02-01 $259,519 (2.3%) $302,588 (-19.9%) 0.00 281
2023-03-01 $257,129 (-2.8%) $301,535 (-17.4%) 0.00 272
2023-04-01 $260,000 (1.5%) $310,074 (-15.2%) 0.00 263
2023-05-01 $276,375 (2.9%) $316,693 (-16.5%) 0.00 270
2023-06-01 $280,285 (8.8%) $334,648 (-7.5%) 0.00 274
2023-07-01 $278,000 (8.2%) $335,565 (-2.4%) 0.00 278
2023-08-01 $279,375 (7.1%) $341,391 (2.8%) 0.00 303
2023-09-01 $269,900 (4.0%) $329,185 (0.3%) 0.00 325
2023-10-01 $259,925 (4.0%) $318,092 (-0.3%) 0.00 311
2023-11-01 $262,750 (4.1%) $316,551 (1.8%) 0.00 322
2023-12-01 $264,950 (1.9%) $312,960 (2.5%) 0.00 319
2024-01-01 $264,925 (1.8%) $314,070 (5.0%) 0.00 310
2024-02-01 $262,800 (1.3%) $312,208 (3.2%) 0.00 325
2024-03-01 $265,000 (3.1%) $323,353 (7.2%) 0.00 313
2024-04-01 $266,500 (2.5%) $320,566 (3.4%) 0.00 315
2024-05-01 $258,950 (-6.3%) $332,216 (4.9%) 0.00 351
2024-06-01 $265,000 (-5.5%) $331,213 (-1.0%) 0.00 360
Hammond's median listing price for 2024-06-01 was $265,000, a difference of $-15,285 (-5.5%) versus the prior year and $6,050 versus the prior month.

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

Hammond's average listing price for 2024-06-01 was $331,213, a difference of $-3,435 (-1.0%) versus the prior year and $-1,003 versus the prior month.

For the 2024-06-01 period, Hammond had 360 MLS listings, a difference of 9 listings (3%) versus the prior month and 86 listings (31%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hammond (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,850 sqft
2018-02-01 0 days 1,831 sqft
2018-03-01 0 days 1,858 sqft
2018-04-01 0 days 1,859 sqft
2018-05-01 0 days 1,885 sqft
2018-06-01 0 days 1,860 sqft
2018-07-01 0 days 1,843 sqft
2018-08-01 0 days 1,842 sqft
2018-09-01 0 days 1,805 sqft
2018-10-01 0 days 1,791 sqft
2018-11-01 0 days 1,776 sqft
2018-12-01 0 days 1,803 sqft
2019-01-01 0 days 1,755 sqft
2019-02-01 0 days 1,772 sqft
2019-03-01 0 days 1,779 sqft
2019-04-01 0 days 1,789 sqft
2019-05-01 0 days 1,842 sqft
2019-06-01 0 days 1,867 sqft
2019-07-01 0 days 1,859 sqft
2019-08-01 0 days 1,856 sqft
2019-09-01 0 days 1,857 sqft
2019-10-01 0 days 1,861 sqft
2019-11-01 0 days 1,885 sqft
2019-12-01 0 days 1,871 sqft
2020-01-01 0 days 1,859 sqft
2020-02-01 0 days 1,858 sqft
2020-03-01 0 days 1,884 sqft
2020-04-01 0 days 1,882 sqft
2020-05-01 0 days 1,899 sqft
2020-06-01 0 days 1,999 sqft
2020-07-01 0 days 2,020 sqft
2020-08-01 0 days 1,987 sqft
2020-09-01 0 days 2,063 sqft
2020-10-01 0 days 1,920 sqft
2020-11-01 0 days 1,923 sqft
2020-12-01 0 days 1,926 sqft
2021-01-01 0 days 1,950 sqft
2021-02-01 0 days 1,980 sqft
2021-03-01 0 days 1,971 sqft
2021-04-01 0 days 1,937 sqft
2021-05-01 0 days 1,969 sqft
2021-06-01 0 days 2,030 sqft
2021-07-01 0 days 2,040 sqft
2021-08-01 0 days 2,000 sqft
2021-09-01 0 days 2,099 sqft
2021-10-01 0 days 2,000 sqft
2021-11-01 0 days 1,921 sqft
2021-12-01 0 days 1,923 sqft
2022-01-01 0 days 1,823 sqft
2022-02-01 0 days 1,877 sqft
2022-03-01 0 days 1,960 sqft
2022-04-01 0 days 1,887 sqft
2022-05-01 0 days 2,015 sqft
2022-06-01 0 days 1,927 sqft
2022-07-01 0 days 1,887 sqft
2022-08-01 0 days 1,860 sqft
2022-09-01 0 days 1,838 sqft
2022-10-01 0 days 1,814 sqft
2022-11-01 0 days 1,871 sqft
2022-12-01 0 days 1,898 sqft
2023-01-01 0 days 1,869 sqft
2023-02-01 0 days 1,860 sqft
2023-03-01 0 days 1,893 sqft
2023-04-01 0 days 1,935 sqft
2023-05-01 0 days 2,054 sqft
2023-06-01 0 days 2,065 sqft
2023-07-01 0 days 2,000 sqft
2023-08-01 0 days 2,000 sqft
2023-09-01 0 days 1,926 sqft
2023-10-01 0 days 1,888 sqft
2023-11-01 0 days 1,888 sqft
2023-12-01 0 days 1,860 sqft
2024-01-01 0 days 1,862 sqft
2024-02-01 0 days 1,821 sqft
2024-03-01 0 days 1,819 sqft
2024-04-01 0 days 1,819 sqft
2024-05-01 0 days 1,819 sqft
2024-06-01 0 days 1,843 sqft
Hammond's median listing age (time on market) for 2024-06-01 was 0 days.

Hammond's median square footage for active listings during the 2024-06-01 period was 1,843 sqft. One year prior, the average listing was 2,065 sqft.