Lafayette USDA Loan Rates, Closing Costs & Stats

LAFAYETTE, LA

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    • 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.

    Lafayette's 38 lenders originated 326 USDA loans during 2023. The total origination value was $60,870,000, with an average USDA loan value of $186,718.

    Lafayette USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Lafayette averaged 6.46% for the week of 2024-11-08, compared to the national average (all USDA variants) of 6.477% for the same period.

    Lafayette's average USDA mortgage closing costs are $5,056.

    The average rate for the prior week (2024-11-01) was 6.33% and one month ago for the week of 2024-10-04, the average rate was 5.75%.

    The average rate one year ago was 7.39%.

    For refis of the same type during the week of 2024-11-08, the average rate was 5.96%.

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

    Lafayette 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 Lafayette level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 38 6.15% $8,509
    DSLD MORTGAGE, LLC 29 6.05% $3,515
    GMFS LLC 27 6.72% $4,239
    DHI MORTGAGE COMPANY, LTD. 25 5.23% $6,114
    MID AMERICA MORTGAGE, INC. 23 6.77% $5,468
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 20 6.49% $6,777
    EUSTIS AND AMERICAN MORTGAGE COMPANY 19 6.85% $5,877
    UNION HOME MORTGAGE CORP. 16 6.75% $6,570
    AMERICAN PACIFIC MORTGAGE CORPORATION 13 6.87% $6,835
    NEWREZ LLC 12 6.97% $6,379
    Assurance Financial Group, L.L.C. 12 6.73% $8,122
    Equity Prime Mortgage LLC 8 6.72% $9,137
    CROSSCOUNTRY MORTGAGE, LLC 8 6.83% $8,196
    First Horizon Bank 7 6.22% $5,361
    AMERICAN FINANCIAL RESOURCES, INC. 6 6.13% $7,432
    FIDELITY BANK 6 6.86% $5,910
    FIRST COMMUNITY MORTGAGE, INC. 5 6.95% $6,726
    PLAZA HOME MORTGAGE, INC. 5 6.25% $7,518
    CARDINAL FINANCIAL 4 6.94% $6,527
    SOUTHPOINT FINANCIAL SERVICES, INC. 4 5.97% $3,762
    MORTGAGE FINANCIAL SERVICES, LLC 3 7.08% $5,421
    STANDARD MORTGAGE CORPORATION 3 5.68% $7,037
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 7.25% $5,518
    Flagstar Bank, FSB 2 7.00% $4,109
    Paramount Residential Mortgage Group, Inc. 2 6.69% $7,474
    Summit Mortgage Corporation 2 6.50% $13,530
    OPEN MORTGAGE, LLC 1 5.75% $3,093
    Bank of England 1 6.00% $4,234
    INSPIRE HOME LOANS INC. 1 6.13% $6,204
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.13% $6,940
    HOMESIDE FINANCIAL, LLC 1 7.25% $8,017
    Home Bank 1 6.88% $5,942
    STOCKTON MORTGAGE CORPORATION 1 6.50% $5,033
    CRESCENT MORTGAGE COMPANY 1 6.25% $7,268
    T2 FINANCIAL LLC 1 7.00% $7,233
    TOWNE MORTGAGE COMPANY 1 7.25% $8,150
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.63% $5,398
    Century Mortgage Company DBA Century Lending Company 1 7.63% $5,079

    The top Lafayette USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 38 USDA loans originated. Their average total fees are $8,509, which is $4,995 higher than the next largest lender, DSLD MORTGAGE, LLC.

    The lowest fee Lafayette USDA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($3,515), GMFS LLC ($4,239), MID AMERICA MORTGAGE, INC. ($5,468), EUSTIS AND AMERICAN MORTGAGE COMPANY ($5,877) and DHI MORTGAGE COMPANY, LTD. ($6,114).

    The lowest rate Lafayette USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.23%), DSLD MORTGAGE, LLC (6.05%), UNITED WHOLESALE MORTGAGE, LLC (6.15%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.49%) and GMFS LLC (6.72%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lafayette (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 $208,225 (-0.7%) $257,866 (-2.0%) 0.77 2,119
    2018-02-01 $209,900 (-0.1%) $262,204 (0.4%) 0.76 2,154
    2018-03-01 $210,000 (-2.3%) $263,652 (-1.5%) 0.74 2,260
    2018-04-01 $214,400 (-2.6%) $267,566 (-2.6%) 0.73 2,283
    2018-05-01 $213,650 (-2.9%) $267,797 (-3.7%) 0.71 2,350
    2018-06-01 $210,500 (-4.3%) $266,711 (-4.0%) 0.70 2,425
    2018-07-01 $210,000 (-4.0%) $266,548 (-3.6%) 0.70 2,492
    2018-08-01 $210,250 (-2.2%) $263,933 (-3.1%) 0.70 2,530
    2018-09-01 $211,957 (-0.5%) $264,707 (-1.7%) 0.71 2,493
    2018-10-01 $206,475 (-1.8%) $260,159 (-2.9%) 0.70 2,482
    2018-11-01 $208,086 (-0.8%) $262,477 (-0.9%) 0.71 2,431
    2018-12-01 $206,500 (-0.6%) $262,637 (0.7%) 0.71 2,385
    2019-01-01 $209,450 (0.6%) $266,925 (3.5%) 0.72 2,265
    2019-02-01 $210,550 (0.3%) $271,209 (3.4%) 0.71 2,302
    2019-03-01 $212,143 (1.0%) $274,673 (4.2%) 0.69 2,306
    2019-04-01 $215,000 (0.3%) $278,210 (4.0%) 0.68 2,310
    2019-05-01 $217,950 (2.0%) $282,612 (5.5%) 0.68 2,251
    2019-06-01 $219,500 (4.3%) $284,430 (6.6%) 0.69 2,268
    2019-07-01 $219,975 (4.8%) $288,977 (8.4%) 0.69 2,253
    2019-08-01 $219,691 (4.5%) $289,149 (9.6%) 0.70 2,204
    2019-09-01 $219,302 (3.5%) $289,647 (9.4%) 0.70 2,141
    2019-10-01 $219,000 (6.1%) $290,618 (11.7%) 0.71 2,084
    2019-11-01 $214,900 (3.3%) $286,648 (9.2%) 0.70 2,044
    2019-12-01 $211,000 (2.2%) $280,622 (6.9%) 0.70 1,947
    2020-01-01 $210,000 (0.3%) $282,065 (5.7%) 0.70 1,852
    2020-02-01 $210,000 (-0.3%) $286,456 (5.6%) 0.69 1,882
    2020-03-01 $213,750 (0.8%) $298,141 (8.5%) 0.67 1,885
    2020-04-01 $217,750 (1.3%) $300,192 (7.9%) 0.68 1,801
    2020-05-01 $220,000 (0.9%) $307,356 (8.8%) 0.67 1,738
    2020-06-01 $219,250 (-0.1%) $312,262 (9.8%) 0.65 1,618
    2020-07-01 $226,250 (2.9%) $316,447 (9.5%) 0.66 1,507
    2020-08-01 $234,000 (6.5%) $321,871 (11.3%) 0.67 1,449
    2020-09-01 $234,863 (7.1%) $326,834 (12.8%) 0.67 1,319
    2020-10-01 $229,835 (5.0%) $331,236 (14.0%) 0.66 1,245
    2020-11-01 $230,750 (7.4%) $335,088 (16.9%) 0.67 1,138
    2020-12-01 $227,000 (7.6%) $335,192 (19.5%) 0.68 1,094
    2021-01-01 $227,520 (8.3%) $338,888 (20.2%) 0.68 996
    2021-02-01 $235,000 (11.9%) $339,304 (18.5%) 0.68 930
    2021-03-01 $239,950 (12.3%) $353,111 (18.4%) 0.68 853
    2021-04-01 $248,905 (14.3%) $372,194 (24.0%) 0.67 778
    2021-05-01 $275,000 (25.0%) $392,155 (27.6%) 0.73 730
    2021-06-01 $276,250 (26.0%) $403,675 (29.3%) 0.73 726
    2021-07-01 $269,250 (19.0%) $408,165 (29.0%) 0.71 770
    2021-08-01 $269,500 (15.2%) $410,440 (27.5%) 0.72 789
    2021-09-01 $274,200 (16.8%) $412,851 (26.3%) 0.73 790
    2021-10-01 $274,900 (19.6%) $389,720 (17.7%) 0.73 791
    2021-11-01 $269,000 (16.6%) $384,471 (14.7%) 0.72 788
    2021-12-01 $269,000 (18.5%) $378,473 (12.9%) 0.73 755
    2022-01-01 $269,000 (18.2%) $381,448 (12.6%) 0.73 694
    2022-02-01 $272,290 (15.9%) $385,451 (13.6%) 0.71 654
    2022-03-01 $286,000 (19.2%) $396,601 (12.3%) 0.72 631
    2022-04-01 $299,950 (20.5%) $407,443 (9.5%) 0.72 618
    2022-05-01 $296,200 (7.7%) $408,340 (4.1%) 0.68 656
    2022-06-01 $296,800 (7.4%) $399,391 (-1.1%) 0.66 744
    2022-07-01 $292,500 (8.6%) $385,615 (-5.5%) 0.66 864
    2022-08-01 $287,000 (6.5%) $372,326 (-9.3%) 0.66 908
    2022-09-01 $287,975 (5.0%) $374,247 (-9.4%) 0.67 949
    2022-10-01 $280,000 (1.9%) $373,132 (-4.3%) 0.66 964
    2022-11-01 $275,000 (2.2%) $359,756 (-6.4%) 0.66 1,009
    2022-12-01 $276,250 (2.7%) $360,461 (-4.8%) 0.68 966
    2023-01-01 $287,450 (6.9%) $366,587 (-3.9%) 0.71 944
    2023-02-01 $276,700 (1.6%) $363,015 (-5.8%) 0.67 939
    2023-03-01 $283,756 (-0.8%) $368,143 (-7.2%) 0.67 963
    2023-04-01 $269,900 (-10.0%) $363,354 (-10.8%) 0.63 992
    2023-05-01 $269,950 (-8.9%) $364,358 (-10.8%) 0.61 1,022
    2023-06-01 $269,450 (-9.2%) $362,171 (-9.3%) 0.61 1,063
    2023-07-01 $265,000 (-9.4%) $350,270 (-9.2%) 0.60 1,157
    2023-08-01 $265,000 (-7.7%) $346,534 (-6.9%) 0.61 1,163
    2023-09-01 $264,900 (-8.0%) $344,934 (-7.8%) 0.62 1,180
    2023-10-01 $262,450 (-6.3%) $338,927 (-9.2%) 0.62 1,205
    2023-11-01 $264,200 (-3.9%) $338,659 (-5.9%) 0.63 1,248
    2023-12-01 $262,000 (-5.2%) $342,335 (-5.0%) 0.64 1,272
    2024-01-01 $260,000 (-9.6%) $344,379 (-6.1%) 0.63 1,209
    2024-02-01 $260,000 (-6.0%) $346,452 (-4.6%) 0.63 1,183
    2024-03-01 $259,250 (-8.6%) $349,307 (-5.1%) 0.61 1,219
    2024-04-01 $260,000 (-3.7%) $343,329 (-5.5%) 0.60 1,344
    2024-05-01 $260,875 (-3.4%) $344,381 (-5.5%) 0.59 1,362
    2024-06-01 $259,950 (-3.5%) $347,767 (-4.0%) 0.58 1,416
    2024-07-01 $263,000 (-0.8%) $351,138 (0.3%) 0.60 1,426
    2024-08-01 $260,000 (-1.9%) $348,056 (0.4%) 0.60 1,496
    2024-09-01 $260,000 (-1.9%) $342,959 (-0.6%) 0.61 1,513
    2024-10-01 $265,000 (1.0%) $348,109 (2.7%) 0.62 1,554
    Lafayette's median listing price for 2024-10-01 was $265,000, a difference of $2,550 (1.0%) versus the prior year and $5,000 versus the prior month.

    Lafayette's median listing price comes in at 62% of the national average.

    Lafayette's average listing price for 2024-10-01 was $348,109, a difference of $9,182 (2.7%) versus the prior year and $5,150 versus the prior month.

    For the 2024-10-01 period, Lafayette had 1,554 MLS listings, a difference of 41 listings (3%) versus the prior month and 349 listings (29%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lafayette (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 100 days 1,858 sqft
    2018-02-01 97 days 1,863 sqft
    2018-03-01 74 days 1,863 sqft
    2018-04-01 73 days 1,885 sqft
    2018-05-01 70 days 1,886 sqft
    2018-06-01 73 days 1,890 sqft
    2018-07-01 79 days 1,884 sqft
    2018-08-01 86 days 1,885 sqft
    2018-09-01 88 days 1,891 sqft
    2018-10-01 93 days 1,878 sqft
    2018-11-01 95 days 1,880 sqft
    2018-12-01 100 days 1,875 sqft
    2019-01-01 108 days 1,888 sqft
    2019-02-01 109 days 1,901 sqft
    2019-03-01 98 days 1,906 sqft
    2019-04-01 86 days 1,913 sqft
    2019-05-01 83 days 1,927 sqft
    2019-06-01 82 days 1,930 sqft
    2019-07-01 86 days 1,945 sqft
    2019-08-01 87 days 1,937 sqft
    2019-09-01 86 days 1,924 sqft
    2019-10-01 87 days 1,915 sqft
    2019-11-01 87 days 1,906 sqft
    2019-12-01 92 days 1,900 sqft
    2020-01-01 94 days 1,900 sqft
    2020-02-01 88 days 1,896 sqft
    2020-03-01 73 days 1,919 sqft
    2020-04-01 81 days 1,925 sqft
    2020-05-01 88 days 1,925 sqft
    2020-06-01 96 days 1,925 sqft
    2020-07-01 82 days 1,968 sqft
    2020-08-01 73 days 2,000 sqft
    2020-09-01 73 days 1,985 sqft
    2020-10-01 78 days 1,959 sqft
    2020-11-01 78 days 2,000 sqft
    2020-12-01 80 days 2,002 sqft
    2021-01-01 79 days 2,000 sqft
    2021-02-01 71 days 1,993 sqft
    2021-03-01 59 days 1,998 sqft
    2021-04-01 54 days 2,012 sqft
    2021-05-01 51 days 2,121 sqft
    2021-06-01 46 days 2,113 sqft
    2021-07-01 47 days 2,060 sqft
    2021-08-01 55 days 2,044 sqft
    2021-09-01 60 days 2,051 sqft
    2021-10-01 60 days 1,990 sqft
    2021-11-01 60 days 1,967 sqft
    2021-12-01 63 days 1,984 sqft
    2022-01-01 71 days 1,956 sqft
    2022-02-01 65 days 1,958 sqft
    2022-03-01 59 days 2,073 sqft
    2022-04-01 53 days 2,129 sqft
    2022-05-01 52 days 2,097 sqft
    2022-06-01 48 days 2,000 sqft
    2022-07-01 47 days 2,000 sqft
    2022-08-01 55 days 1,992 sqft
    2022-09-01 61 days 2,000 sqft
    2022-10-01 70 days 1,964 sqft
    2022-11-01 75 days 1,955 sqft
    2022-12-01 85 days 1,938 sqft
    2023-01-01 91 days 1,955 sqft
    2023-02-01 87 days 1,934 sqft
    2023-03-01 66 days 1,948 sqft
    2023-04-01 59 days 1,900 sqft
    2023-05-01 61 days 1,905 sqft
    2023-06-01 65 days 1,900 sqft
    2023-07-01 67 days 1,883 sqft
    2023-08-01 71 days 1,878 sqft
    2023-09-01 71 days 1,877 sqft
    2023-10-01 72 days 1,879 sqft
    2023-11-01 69 days 1,860 sqft
    2023-12-01 75 days 1,861 sqft
    2024-01-01 86 days 1,855 sqft
    2024-02-01 90 days 1,858 sqft
    2024-03-01 69 days 1,851 sqft
    2024-04-01 57 days 1,837 sqft
    2024-05-01 60 days 1,855 sqft
    2024-06-01 71 days 1,867 sqft
    2024-07-01 74 days 1,857 sqft
    2024-08-01 71 days 1,841 sqft
    2024-09-01 75 days 1,852 sqft
    2024-10-01 77 days 1,865 sqft
    Lafayette's median listing age (time on market) for 2024-10-01 was 77 days. This is 7% longer than the same period one year ago.

    Lafayette's median square footage for active listings during the 2024-10-01 period was 1,865 sqft. One year prior, the average listing was 1,879 sqft.