Hammond USDA Loans

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 54 lenders originated 409 USDA loans during 2021. The total origination value was $76,615,000, with an average USDA loan value of $187,323.

Hammond USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Hammond averaged 5.47% 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 5.31% and one month ago for the week of 2022-04-08, the average rate was 4.97%.

The average rate one year ago was 3.18%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.29%.

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

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
GMFS LLC 61 3.06% $3,690
DHI MORTGAGE COMPANY, LTD. 35 2.75% $4,965
DSLD MORTGAGE, LLC 32 2.60% $2,012
Gulf Coast Bank and Trust Company 25 2.70% $5,767
MID AMERICA MORTGAGE, INC. 22 3.12% $4,573
MOVEMENT MORTGAGE, LLC 21 2.95% $4,889
Gateway First Bank 20 2.69% $4,130
CALIBER HOME LOANS, INC. 17 2.95% $5,839
AMERICAN FINANCIAL NETWORK, INC. 11 3.35% $8,415
FIDELITY BANK 10 2.94% $5,743
SECURITYNATIONAL MORTGAGE COMPANY 10 3.26% $7,361
FBT Mortgage, L.L.C. 9 2.72% $5,632
Assurance Financial Group, L.L.C. 9 3.10% $5,968
LHM FINANCIAL CORPORATION 8 2.89% $5,663
EUSTIS AND AMERICAN MORTGAGE COMPANY 7 2.68% $5,978
MORTGAGE FINANCIAL SERVICES, LLC 7 2.96% $4,904
NEWREZ LLC 6 2.71% $6,016
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 6 2.98% $4,606
SOUTHWEST FUNDING, LP 5 3.13% $6,362
CROSSCOUNTRY MORTGAGE, LLC 5 2.82% $8,107
HOME POINT FINANCIAL CORPORATION 4 2.66% $4,903
SUMMIT FUNDING, INC. 3 3.46% $5,682
UNITED WHOLESALE MORTGAGE, LLC 3 2.92% $8,457
CMG MORTGAGE, INC. 3 3.00% $7,803
INTERLINC MORTGAGE SERVICES, LLC 3 3.25% $3,936
Nations Lending Corporation 3 3.21% $6,222
LOANDEPOT.COM, LLC 3 2.67% $5,846
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.08% $6,035
Goldwater Bank, N.A. 2 2.81% $5,714
Bank of England 2 3.44% $5,790
First Horizon Bank 2 2.88% $5,424
GSF Mortgage Corporation 2 3.06% $5,811
Hancock Whitney Bank 2 2.56% $5,799
NTFN, INC. 2 2.69% $6,656
PENNYMAC LOAN SERVICES, LLC 2 2.81% $4,804
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.31% $4,256
UNION HOME MORTGAGE CORP. 2 2.75% $5,827
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 3.50% $5,810
Northpointe Bank 1 2.75% $5,653
SUN WEST MORTGAGE COMPANY, INC. 1 3.25% $7,291
VILLAGE CAPITAL & INVESTMENT LLC 1 2.75% $6,385
PERFORMANCE MORTGAGE LLC 1 3.25% $10,404
Plains Commerce Bank 1 2.88% $5,855
AMERICAN FINANCIAL RESOURCES, INC. 1 3.00% $8,343
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.50% $5,882
Republic State Mortgage Co. 1 3.50% $2,252
Flagstar Bank, FSB 1 2.75% $7,077
ANGEL OAK HOME LOANS LLC 1 2.75% $6,724
STANDARD MORTGAGE CORPORATION 1 2.38% $6,348
America's Mortgage Resource, Inc. 1 2.88% $1,838
MIDLAND MORTGAGE CORPORATION 1 3.13% $899
LAKEVIEW LOAN SERVICING, LLC 1 2.75% $4,408
KEESLER 1 3.00% $5,679
GUILD MORTGAGE COMPANY 1 3.13% $9,677

The top Hammond USDA lender as defined by loan originations is GMFS LLC, with 61 USDA loans originated. Their average total fees are $3,690, which is $1,275 lower than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Hammond USDA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($2,012), GMFS LLC ($3,690), Gateway First Bank ($4,130), MID AMERICA MORTGAGE, INC. ($4,573) and MOVEMENT MORTGAGE, LLC ($4,889).

The lowest rate Hammond USDA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC (2.60%), Gateway First Bank (2.69%), Gulf Coast Bank and Trust Company (2.70%), DHI MORTGAGE COMPANY, LTD. (2.75%) and FIDELITY BANK (2.94%).


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 $192,250 (1.7%) $234,529 (0.0%) 0.00 498
2018-02-01 $190,630 (1.4%) $232,918 (-0.2%) 0.00 507
2018-03-01 $190,095 (0.6%) $232,970 (-1.0%) 0.00 516
2018-04-01 $189,950 (-2.6%) $231,939 (-3.6%) 0.00 526
2018-05-01 $194,000 (-2.9%) $233,880 (-2.3%) 0.00 534
2018-06-01 $189,900 (-4.6%) $227,839 (-4.4%) 0.00 574
2018-07-01 $188,543 (-3.3%) $226,946 (-6.8%) 0.00 564
2018-08-01 $188,950 (-3.1%) $228,157 (-5.1%) 0.00 569
2018-09-01 $185,000 (-4.4%) $223,230 (-5.5%) 0.00 607
2018-10-01 $185,000 (-7.0%) $234,046 (-3.0%) 0.00 620
2018-11-01 $185,700 (-4.0%) $236,251 (-2.6%) 0.00 643
2018-12-01 $187,900 (-6.0%) $234,464 (-2.8%) 0.00 656
2019-01-01 $183,900 (-4.3%) $234,307 (-0.1%) 0.00 652
2019-02-01 $184,950 (-3.0%) $235,500 (1.1%) 0.00 646
2019-03-01 $185,329 (-2.5%) $235,090 (0.9%) 0.00 642
2019-04-01 $187,450 (-1.3%) $235,289 (1.4%) 0.00 634
2019-05-01 $196,200 (1.1%) $242,661 (3.8%) 0.00 618
2019-06-01 $199,900 (5.3%) $241,404 (6.0%) 0.00 638
2019-07-01 $199,000 (5.6%) $239,616 (5.6%) 0.00 657
2019-08-01 $199,214 (5.4%) $241,149 (5.7%) 0.00 648
2019-09-01 $197,214 (6.6%) $242,243 (8.5%) 0.00 630
2019-10-01 $199,000 (7.6%) $244,717 (4.6%) 0.00 596
2019-11-01 $195,000 (5.0%) $242,826 (2.8%) 0.00 579
2019-12-01 $194,268 (3.4%) $245,397 (4.7%) 0.00 560
2020-01-01 $189,950 (3.3%) $241,870 (3.2%) 0.00 528
2020-02-01 $189,900 (2.7%) $249,586 (6.0%) 0.00 507
2020-03-01 $198,500 (7.1%) $259,407 (10.3%) 0.00 484
2020-04-01 $199,950 (6.7%) $258,759 (10.0%) 0.00 478
2020-05-01 $205,900 (4.9%) $263,456 (8.6%) 0.00 413
2020-06-01 $224,500 (12.3%) $283,824 (17.6%) 0.00 335
2020-07-01 $224,450 (12.8%) $276,551 (15.4%) 0.00 313
2020-08-01 $225,000 (12.9%) $277,124 (14.9%) 0.00 306
2020-09-01 $232,000 (17.6%) $285,876 (18.0%) 0.00 291
2020-10-01 $227,000 (14.1%) $298,793 (22.1%) 0.00 244
2020-11-01 $233,500 (19.7%) $306,367 (26.2%) 0.00 235
2020-12-01 $244,000 (25.6%) $328,895 (34.0%) 0.00 221
2021-01-01 $249,900 (31.6%) $329,624 (36.3%) 0.00 193
2021-02-01 $247,450 (30.3%) $364,505 (46.0%) 0.00 168
2021-03-01 $249,500 (25.7%) $368,646 (42.1%) 0.00 163
2021-04-01 $240,000 (20.0%) $356,587 (37.8%) 0.00 157
2021-05-01 $243,900 (18.5%) $366,857 (39.3%) 0.00 154
2021-06-01 $269,000 (19.8%) $388,936 (37.0%) 0.00 157
2021-07-01 $271,950 (21.2%) $385,004 (39.2%) 0.00 163
2021-08-01 $274,303 (21.9%) $393,416 (42.0%) 0.00 193
2021-09-01 $278,500 (20.0%) $395,621 (38.4%) 0.00 178
2021-10-01 $275,000 (21.2%) $393,767 (31.8%) 0.00 158
2021-11-01 $255,000 (9.2%) $379,671 (23.9%) 0.00 148
2021-12-01 $249,500 (2.3%) $383,007 (16.5%) 0.00 137
2022-01-01 $240,000 (-4.0%) $375,796 (14.0%) 0.00 120
2022-02-01 $250,000 (1.0%) $383,209 (5.1%) 0.00 91
2022-03-01 $261,950 (5.0%) $371,824 (0.9%) 0.00 122
2022-04-01 $256,340 (6.8%) $360,082 (1.0%) 0.00 160
Hammond's median listing price for 2022-04-01 was $256,340, a difference of $16,340 (6.8%) versus the prior year and $-5,610 versus the prior month.

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

Hammond's average listing price for 2022-04-01 was $360,082, a difference of $3,495 (1.0%) versus the prior year and $-11,742 versus the prior month.

For the 2022-04-01 period, Hammond had 160 MLS listings, a difference of 38 listings (31%) versus the prior month and 3 listings (2%) 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 1,856 sqft
2018-02-01 0 days 1,853 sqft
2018-03-01 0 days 1,860 sqft
2018-04-01 0 days 1,854 sqft
2018-05-01 0 days 1,891 sqft
2018-06-01 0 days 1,868 sqft
2018-07-01 0 days 1,841 sqft
2018-08-01 0 days 1,841 sqft
2018-09-01 0 days 1,792 sqft
2018-10-01 0 days 1,776 sqft
2018-11-01 0 days 1,759 sqft
2018-12-01 0 days 1,786 sqft
2019-01-01 0 days 1,755 sqft
2019-02-01 0 days 1,786 sqft
2019-03-01 0 days 1,771 sqft
2019-04-01 0 days 1,784 sqft
2019-05-01 0 days 1,843 sqft
2019-06-01 0 days 1,863 sqft
2019-07-01 0 days 1,861 sqft
2019-08-01 0 days 1,872 sqft
2019-09-01 0 days 1,870 sqft
2019-10-01 0 days 1,876 sqft
2019-11-01 0 days 1,887 sqft
2019-12-01 0 days 1,872 sqft
2020-01-01 0 days 1,853 sqft
2020-02-01 0 days 1,861 sqft
2020-03-01 0 days 1,883 sqft
2020-04-01 0 days 1,877 sqft
2020-05-01 0 days 1,900 sqft
2020-06-01 0 days 2,015 sqft
2020-07-01 0 days 2,012 sqft
2020-08-01 0 days 2,013 sqft
2020-09-01 0 days 2,078 sqft
2020-10-01 0 days 1,980 sqft
2020-11-01 0 days 2,019 sqft
2020-12-01 0 days 2,057 sqft
2021-01-01 0 days 2,048 sqft
2021-02-01 0 days 2,048 sqft
2021-03-01 0 days 2,072 sqft
2021-04-01 0 days 1,953 sqft
2021-05-01 0 days 1,974 sqft
2021-06-01 0 days 2,075 sqft
2021-07-01 0 days 2,060 sqft
2021-08-01 0 days 2,073 sqft
2021-09-01 0 days 2,209 sqft
2021-10-01 0 days 2,106 sqft
2021-11-01 0 days 2,001 sqft
2021-12-01 0 days 1,967 sqft
2022-01-01 0 days 1,831 sqft
2022-02-01 0 days 1,804 sqft
2022-03-01 0 days 1,945 sqft
2022-04-01 0 days 1,900 sqft
Hammond's median listing age (time on market) for 2022-04-01 was 0 days.

Hammond's median square footage for active listings during the 2022-04-01 period was 1,900 sqft. One year prior, the average listing was 1,953 sqft.