Lafayette USDA Loan Rates, Closing Costs & Stats

LAFAYETTE, 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.

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 6.49% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

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

The average rate for the prior week (2024-04-05) was 6.71% and one month ago for the week of 2024-03-08, the average rate was 6.67%.

The average rate one year ago was 6.28%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.18%.

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
Lafayette's median listing price for 2024-03-01 was $259,250, a difference of $-24,506 (-8.6%) versus the prior year and $-750 versus the prior month.

Lafayette's median listing price comes in at 61% of the national average.

Lafayette's average listing price for 2024-03-01 was $349,307, a difference of $-18,836 (-5.1%) versus the prior year and $2,855 versus the prior month.

For the 2024-03-01 period, Lafayette had 1,219 MLS listings, a difference of 36 listings (3%) versus the prior month and 256 listings (27%) 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
Lafayette's median listing age (time on market) for 2024-03-01 was 69 days. This is 5% longer than the same period one year ago.

Lafayette's median square footage for active listings during the 2024-03-01 period was 1,851 sqft. One year prior, the average listing was 1,948 sqft.