Joplin USDA Loan Rates, Closing Costs & Stats
JOPLIN, MO
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.
Joplin's 21 lenders originated 119 USDA loans during 2023. The total origination value was $18,285,000, with an average USDA loan value of $153,655.
Joplin USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Joplin
averaged
6.7%
for the week of 2024-07-19, compared to the national average (all USDA variants) of
6.628% for the same period.
Joplin's average USDA mortgage closing costs are $3,920.
The average rate for the prior week (2024-07-12) was
6.52% and
one month ago for the week of 2024-06-14, the
average rate was 6.76%.
The average rate one year ago was 7.01%.
For refis of the same type during the week of 2024-07-19, the average rate
was 6.81%.
Joplin 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 Joplin level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| FLAT BRANCH MORTGAGE, INC. | 68 | 6.99% | $5,084 |
| DAS Acquisition Company, LLC | 9 | 6.75% | $6,360 |
| Arvest Bank | 7 | 6.79% | $4,368 |
| GERSHMAN INVESTMENT CORP. | 3 | 6.13% | $4,355 |
| FirstTrust Home Loans, Inc. | 3 | 6.25% | $5,303 |
| Southwest Missouri Bank | 3 | 6.54% | $3,675 |
| First Community Bank | 3 | 6.21% | $6,916 |
| NEWREZ LLC | 2 | 7.00% | $5,961 |
| MID AMERICA MORTGAGE, INC. | 2 | 6.88% | $4,801 |
| TOWNE MORTGAGE COMPANY | 2 | 6.94% | $6,562 |
| The Central Trust Bank | 1 | 6.88% | $4,975 |
| UNION HOME MORTGAGE CORP. | 1 | 7.75% | $7,282 |
| BANK OF LITTLE ROCK MORTGAGE CORPORATION | 1 | 6.38% | $4,308 |
| Community National Bank & Trust | 1 | 6.25% | $7,430 |
| Equity Prime Mortgage LLC | 1 | 7.25% | $6,216 |
| Gateway First Bank | 1 | 5.75% | $3,752 |
| HOMESIDE FINANCIAL, LLC | 1 | 6.75% | $8,183 |
| LEADERONE FINANCIAL CORPORATION | 1 | 6.63% | $7,411 |
| Midwest Mortgage Associates Corporation | 1 | 6.88% | $1,903 |
| Paramount Residential Mortgage Group, Inc. | 1 | 6.63% | $5,703 |
| PLAZA HOME MORTGAGE, INC. | 1 | 7.25% | $6,099 |
The top Joplin USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with
68 USDA loans originated. Their average total fees are
$5,084, which is $1,276
lower than the next largest lender,
DAS Acquisition Company, LLC.
The lowest fee Joplin USDA lenders (with over 10 loans originated) are
FLAT BRANCH MORTGAGE, INC. ($5,084), .
The lowest rate Joplin USDA lenders (with over 10 loans originated) are
FLAT BRANCH MORTGAGE, INC. (6.99%), .