Hammond USDA Loan Rates, Closing Costs & Stats

HAMMOND, LA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 6.82% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.37% and one month ago for the week of 2024-03-15, the average rate was 6.45%.

    The average rate one year ago was 5.99%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.8%.

    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
    Hammond's median listing price for 2024-03-01 was $265,000, a difference of $7,871 (3.1%) versus the prior year and $2,200 versus the prior month.

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

    Hammond's average listing price for 2024-03-01 was $323,353, a difference of $21,818 (7.2%) versus the prior year and $11,145 versus the prior month.

    For the 2024-03-01 period, Hammond had 313 MLS listings, a difference of -12 listings (-4%) versus the prior month and 41 listings (15%) 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
    Hammond's median listing age (time on market) for 2024-03-01 was 0 days.

    Hammond's median square footage for active listings during the 2024-03-01 period was 1,819 sqft. One year prior, the average listing was 1,893 sqft.