Houma USDA Loan Rates, Closing Costs & Stats
HOUMA-THIBODAUX, 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.
Houma's 19 lenders originated 152 USDA loans during 2023. The total origination value was $28,950,000, with an average USDA loan value of $190,461.
Houma USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Houma
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.
Houma's average USDA mortgage closing costs are $5,452.
The average rate for the prior week (2024-11-01) was
6.15% and
one month ago for the week of 2024-10-04, the
average rate was 5.97%.
The average rate one year ago was 7.31%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.51%.
Houma 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 Houma level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | 51 | 6.11% | $8,930 |
| Assurance Financial Group, L.L.C. | 26 | 6.41% | $7,243 |
| GMFS LLC | 18 | 6.46% | $3,401 |
| EUSTIS AND AMERICAN MORTGAGE COMPANY | 17 | 6.42% | $9,055 |
| DSLD MORTGAGE, LLC | 6 | 5.89% | $3,565 |
| NEWREZ LLC | 6 | 6.67% | $9,883 |
| Citizens Bank | 4 | 6.47% | $6,536 |
| DHI MORTGAGE COMPANY, LTD. | 4 | 5.47% | $5,477 |
| Flagstar Bank, FSB | 3 | 7.08% | $7,905 |
| Equity Prime Mortgage LLC | 3 | 6.63% | $7,550 |
| LOANDEPOT.COM, LLC | 2 | 6.56% | $8,528 |
| Paramount Residential Mortgage Group, Inc. | 2 | 6.50% | $10,667 |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | 1 | 5.50% | $12,324 |
| MOVEMENT MORTGAGE, LLC | 1 | 5.75% | $7,490 |
| CARDINAL FINANCIAL | 1 | 6.75% | $4,994 |
| UNION HOME MORTGAGE CORP. | 1 | 6.13% | $6,480 |
| AMERICAN FINANCIAL RESOURCES, INC. | 1 | 6.25% | $4,993 |
| BROKER SOLUTIONS, INC. | 1 | 7.13% | $6,650 |
| GUARANTEED RATE, INC. | 1 | 7.75% | $7,633 |
The top Houma USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
51 USDA loans originated. Their average total fees are
$8,930, which is $1,687
higher than the next largest lender,
Assurance Financial Group, L.L.C..
The lowest fee Houma USDA lenders (with over 10 loans originated) are
GMFS LLC ($3,401), Assurance Financial Group, L.L.C. ($7,243), UNITED WHOLESALE MORTGAGE, LLC ($8,930), EUSTIS AND AMERICAN MORTGAGE COMPANY ($9,055) and .
The lowest rate Houma USDA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (6.11%), Assurance Financial Group, L.L.C. (6.41%), EUSTIS AND AMERICAN MORTGAGE COMPANY (6.42%), GMFS LLC (6.46%) and .