Lake Charles USDA Loan Rates, Closing Costs & Stats

LAKE CHARLES, 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.

    Lake Charles's 25 lenders originated 102 USDA loans during 2023. The total origination value was $17,530,000, with an average USDA loan value of $171,863.

    Lake Charles USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Lake Charles averaged -0.18% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    Lake Charles's average USDA mortgage closing costs are $4,953.

    The average rate for the prior week (2024-11-08) was 6.57% and one month ago for the week of 2024-10-11, the average rate was 6.13%.

    The average rate one year ago was 7.06%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.13%.

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

    Lake Charles 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 Lake Charles level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FIDELITY BANK 12 6.66% $6,754
    GMFS LLC 10 6.74% $3,461
    UNITED WHOLESALE MORTGAGE, LLC 7 6.64% $7,354
    DSLD MORTGAGE, LLC 7 5.77% $2,913
    NTFN, INC. 7 6.48% $5,959
    Chickasaw Community Bank 5 7.13% $5,771
    First Horizon Bank 4 5.38% $9,939
    DHI MORTGAGE COMPANY, LTD. 4 4.75% $7,463
    Nations Lending Corporation 4 6.88% $3,588
    NEWREZ LLC 4 6.38% $6,883
    UNION HOME MORTGAGE CORP. 4 6.34% $5,936
    T2 FINANCIAL LLC 3 6.92% $6,987
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 6.38% $6,275
    MORTGAGE FINANCIAL SERVICES, LLC 3 6.21% $6,274
    Equity Prime Mortgage LLC 2 7.19% $5,153
    MID AMERICA MORTGAGE, INC. 2 6.63% $4,625
    Plains Commerce Bank 1 7.13% $5,005
    Red River Bank 1 6.13% $5,278
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.49% $9,392
    CRESCENT MORTGAGE COMPANY 1 5.63% $5,043
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.75% $6,199
    Citizens Bank 1 6.75% $5,391
    Bank of England 1 6.25% $7,389
    CARDINAL FINANCIAL 1 7.13% $6,200
    OPEN MORTGAGE, LLC 1 7.13% $4,526

    The top Lake Charles USDA lender as defined by loan originations is FIDELITY BANK, with 12 USDA loans originated. Their average total fees are $6,754, which is $3,293 higher than the next largest lender, GMFS LLC.

    The lowest fee Lake Charles USDA lenders (with over 10 loans originated) are GMFS LLC ($3,461), FIDELITY BANK ($6,754), .

    The lowest rate Lake Charles USDA lenders (with over 10 loans originated) are FIDELITY BANK (6.66%), GMFS LLC (6.74%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lake Charles (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 $231,000 (-3.7%) $294,716 (-11.0%) 0.86 849
    2018-02-01 $229,250 (-4.3%) $290,130 (-11.5%) 0.83 838
    2018-03-01 $234,900 (-4.5%) $293,049 (-12.0%) 0.82 825
    2018-04-01 $235,250 (-5.9%) $293,284 (-13.0%) 0.80 817
    2018-05-01 $244,500 (-2.2%) $306,979 (-11.0%) 0.82 803
    2018-06-01 $240,000 (-3.7%) $300,900 (-12.1%) 0.80 885
    2018-07-01 $235,000 (-4.5%) $296,453 (-9.7%) 0.78 914
    2018-08-01 $239,925 (-0.9%) $325,459 (4.2%) 0.80 933
    2018-09-01 $235,958 (-1.6%) $319,951 (5.1%) 0.79 952
    2018-10-01 $235,479 (-0.6%) $313,600 (3.8%) 0.80 978
    2018-11-01 $234,358 (0.7%) $316,874 (5.2%) 0.79 987
    2018-12-01 $234,700 (0.5%) $322,782 (7.8%) 0.81 979
    2019-01-01 $234,950 (1.7%) $318,136 (8.0%) 0.81 973
    2019-02-01 $236,860 (3.3%) $316,143 (9.0%) 0.80 974
    2019-03-01 $238,999 (1.8%) $320,703 (9.4%) 0.78 950
    2019-04-01 $239,636 (1.9%) $326,348 (11.3%) 0.76 928
    2019-05-01 $241,700 (-1.2%) $335,309 (9.2%) 0.76 901
    2019-06-01 $240,667 (0.3%) $328,390 (9.1%) 0.75 879
    2019-07-01 $239,375 (1.9%) $322,993 (9.0%) 0.75 940
    2019-08-01 $235,827 (-1.7%) $318,585 (-2.1%) 0.75 965
    2019-09-01 $232,268 (-1.6%) $317,460 (-0.8%) 0.74 966
    2019-10-01 $230,000 (-2.3%) $319,554 (1.9%) 0.74 957
    2019-11-01 $229,950 (-1.9%) $318,376 (0.5%) 0.75 948
    2019-12-01 $220,000 (-6.3%) $259,380 (-19.6%) 0.73 850
    2020-01-01 $219,900 (-6.4%) $261,329 (-17.9%) 0.73 836
    2020-02-01 $223,700 (-5.6%) $264,697 (-16.3%) 0.73 845
    2020-03-01 $220,950 (-7.6%) $270,241 (-15.7%) 0.69 862
    2020-04-01 $219,600 (-8.4%) $269,577 (-17.4%) 0.69 886
    2020-05-01 $220,990 (-8.6%) $273,204 (-18.5%) 0.67 866
    2020-06-01 $224,812 (-6.6%) $280,946 (-14.5%) 0.66 853
    2020-07-01 $224,775 (-6.1%) $284,137 (-12.0%) 0.65 837
    2020-08-01 $220,900 (-6.3%) $286,257 (-10.2%) 0.63 839
    2020-09-01 $221,225 (-4.8%) $285,808 (-10.0%) 0.63 674
    2020-10-01 $225,500 (-2.0%) $291,843 (-8.7%) 0.65 554
    2020-11-01 $228,858 (-0.5%) $282,198 (-11.4%) 0.67 507
    2020-12-01 $229,600 (4.4%) $278,805 (7.5%) 0.68 479
    2021-01-01 $234,500 (6.6%) $279,397 (6.9%) 0.70 449
    2021-02-01 $242,500 (8.4%) $294,010 (11.1%) 0.71 403
    2021-03-01 $238,450 (7.9%) $291,157 (7.7%) 0.68 364
    2021-04-01 $236,920 (7.9%) $289,688 (7.5%) 0.64 346
    2021-05-01 $231,999 (5.0%) $296,690 (8.6%) 0.62 307
    2021-06-01 $230,750 (2.6%) $294,126 (4.7%) 0.61 300
    2021-07-01 $234,200 (4.2%) $291,448 (2.6%) 0.62 343
    2021-08-01 $231,500 (4.8%) $292,828 (2.3%) 0.62 375
    2021-09-01 $231,500 (4.6%) $285,080 (-0.3%) 0.62 420
    2021-10-01 $224,900 (-0.3%) $278,038 (-4.7%) 0.60 465
    2021-11-01 $219,675 (-4.0%) $270,784 (-4.0%) 0.59 506
    2021-12-01 $216,375 (-5.8%) $262,106 (-6.0%) 0.59 524
    2022-01-01 $223,900 (-4.5%) $265,414 (-5.0%) 0.61 494
    2022-02-01 $218,075 (-10.1%) $266,044 (-9.5%) 0.57 487
    2022-03-01 $219,900 (-7.8%) $267,113 (-8.3%) 0.55 469
    2022-04-01 $218,900 (-7.6%) $279,878 (-3.4%) 0.52 467
    2022-05-01 $220,000 (-5.2%) $285,888 (-3.6%) 0.50 510
    2022-06-01 $237,100 (2.8%) $291,517 (-0.9%) 0.53 586
    2022-07-01 $239,900 (2.4%) $286,760 (-1.6%) 0.54 659
    2022-08-01 $234,225 (1.2%) $279,878 (-4.4%) 0.54 715
    2022-09-01 $229,500 (-0.9%) $273,866 (-3.9%) 0.54 757
    2022-10-01 $237,900 (5.8%) $277,279 (-0.3%) 0.56 821
    2022-11-01 $238,575 (8.6%) $274,424 (1.3%) 0.57 864
    2022-12-01 $235,000 (8.6%) $271,946 (3.8%) 0.58 878
    2023-01-01 $236,225 (5.5%) $276,139 (4.0%) 0.59 836
    2023-02-01 $229,475 (5.2%) $271,433 (2.0%) 0.55 815
    2023-03-01 $236,750 (7.7%) $281,413 (5.4%) 0.56 823
    2023-04-01 $235,000 (7.4%) $284,281 (1.6%) 0.55 811
    2023-05-01 $242,400 (10.2%) $294,189 (2.9%) 0.55 893
    2023-06-01 $249,450 (5.2%) $298,551 (2.4%) 0.56 876
    2023-07-01 $249,000 (3.8%) $293,884 (2.5%) 0.57 907
    2023-08-01 $241,350 (3.0%) $293,122 (4.7%) 0.55 921
    2023-09-01 $238,745 (4.0%) $287,317 (4.9%) 0.56 930
    2023-10-01 $239,200 (0.6%) $290,705 (4.8%) 0.56 921
    2023-11-01 $239,675 (0.5%) $288,707 (5.2%) 0.57 906
    2023-12-01 $239,999 (2.1%) $289,403 (6.4%) 0.59 888
    2024-01-01 $239,950 (1.6%) $289,436 (4.8%) 0.59 835
    2024-02-01 $244,400 (6.5%) $292,779 (7.9%) 0.59 882
    2024-03-01 $245,000 (3.5%) $298,297 (6.0%) 0.58 916
    2024-04-01 $247,000 (5.1%) $304,969 (7.3%) 0.57 929
    2024-05-01 $249,950 (3.1%) $314,859 (7.0%) 0.56 916
    2024-06-01 $245,000 (-1.8%) $309,365 (3.6%) 0.55 923
    2024-07-01 $239,850 (-3.7%) $304,328 (3.6%) 0.55 999
    2024-08-01 $240,000 (-0.6%) $303,778 (3.6%) 0.56 1,002
    2024-09-01 $241,500 (1.2%) $306,246 (6.6%) 0.57 996
    2024-10-01 $239,125 (0.0%) $303,136 (4.3%) 0.56 1,000
    Lake Charles's median listing price for 2024-10-01 was $239,125, a difference of $-75 (0.0%) versus the prior year and $-2,375 versus the prior month.

    Lake Charles's median listing price comes in at 56% of the national average.

    Lake Charles's average listing price for 2024-10-01 was $303,136, a difference of $12,431 (4.3%) versus the prior year and $-3,110 versus the prior month.

    For the 2024-10-01 period, Lake Charles had 1,000 MLS listings, a difference of 4 listings (0%) versus the prior month and 79 listings (9%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lake Charles (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 84 days 1,961 sqft
    2018-02-01 88 days 1,928 sqft
    2018-03-01 80 days 1,940 sqft
    2018-04-01 71 days 1,946 sqft
    2018-05-01 69 days 1,996 sqft
    2018-06-01 69 days 2,000 sqft
    2018-07-01 74 days 1,982 sqft
    2018-08-01 79 days 2,007 sqft
    2018-09-01 81 days 1,984 sqft
    2018-10-01 79 days 1,991 sqft
    2018-11-01 83 days 1,985 sqft
    2018-12-01 87 days 1,982 sqft
    2019-01-01 90 days 1,983 sqft
    2019-02-01 94 days 1,986 sqft
    2019-03-01 82 days 1,991 sqft
    2019-04-01 75 days 2,009 sqft
    2019-05-01 76 days 2,021 sqft
    2019-06-01 76 days 2,017 sqft
    2019-07-01 79 days 2,009 sqft
    2019-08-01 79 days 1,998 sqft
    2019-09-01 81 days 1,989 sqft
    2019-10-01 82 days 1,993 sqft
    2019-11-01 88 days 2,000 sqft
    2019-12-01 89 days 1,890 sqft
    2020-01-01 91 days 1,877 sqft
    2020-02-01 92 days 1,889 sqft
    2020-03-01 71 days 1,889 sqft
    2020-04-01 78 days 1,882 sqft
    2020-05-01 80 days 1,894 sqft
    2020-06-01 81 days 1,900 sqft
    2020-07-01 77 days 1,899 sqft
    2020-08-01 75 days 1,900 sqft
    2020-09-01 86 days 1,900 sqft
    2020-10-01 98 days 1,900 sqft
    2020-11-01 100 days 1,900 sqft
    2020-12-01 67 days 1,898 sqft
    2021-01-01 70 days 1,899 sqft
    2021-02-01 60 days 1,897 sqft
    2021-03-01 58 days 1,880 sqft
    2021-04-01 55 days 1,886 sqft
    2021-05-01 53 days 1,889 sqft
    2021-06-01 52 days 1,893 sqft
    2021-07-01 47 days 1,886 sqft
    2021-08-01 51 days 1,892 sqft
    2021-09-01 53 days 1,886 sqft
    2021-10-01 58 days 1,858 sqft
    2021-11-01 65 days 1,842 sqft
    2021-12-01 69 days 1,813 sqft
    2022-01-01 72 days 1,825 sqft
    2022-02-01 62 days 1,812 sqft
    2022-03-01 57 days 1,834 sqft
    2022-04-01 54 days 1,810 sqft
    2022-05-01 52 days 1,841 sqft
    2022-06-01 53 days 1,876 sqft
    2022-07-01 54 days 1,902 sqft
    2022-08-01 60 days 1,889 sqft
    2022-09-01 64 days 1,885 sqft
    2022-10-01 70 days 1,880 sqft
    2022-11-01 77 days 1,877 sqft
    2022-12-01 89 days 1,875 sqft
    2023-01-01 97 days 1,882 sqft
    2023-02-01 97 days 1,852 sqft
    2023-03-01 92 days 1,881 sqft
    2023-04-01 78 days 1,875 sqft
    2023-05-01 72 days 1,880 sqft
    2023-06-01 78 days 1,895 sqft
    2023-07-01 80 days 1,895 sqft
    2023-08-01 78 days 1,880 sqft
    2023-09-01 78 days 1,875 sqft
    2023-10-01 85 days 1,882 sqft
    2023-11-01 90 days 1,857 sqft
    2023-12-01 94 days 1,860 sqft
    2024-01-01 102 days 1,867 sqft
    2024-02-01 94 days 1,876 sqft
    2024-03-01 80 days 1,880 sqft
    2024-04-01 74 days 1,884 sqft
    2024-05-01 77 days 1,897 sqft
    2024-06-01 83 days 1,885 sqft
    2024-07-01 86 days 1,869 sqft
    2024-08-01 82 days 1,861 sqft
    2024-09-01 80 days 1,870 sqft
    2024-10-01 87 days 1,855 sqft
    Lake Charles's median listing age (time on market) for 2024-10-01 was 87 days. This is 2% longer than the same period one year ago.

    Lake Charles's median square footage for active listings during the 2024-10-01 period was 1,855 sqft. One year prior, the average listing was 1,882 sqft.