Lake Havasu City USDA Loan Rates, Closing Costs & Stats
LAKE HAVASU CITY-KINGMAN, AZ
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 Havasu City's 15 lenders originated 53 USDA loans during 2023. The total origination value was $12,025,000, with an average USDA loan value of $226,887.
Lake Havasu City USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Lake Havasu City
averaged
6.68%
for the week of 2024-07-19, compared to the national average (all USDA variants) of
6.628% for the same period.
Lake Havasu City's average USDA mortgage closing costs are $5,581.
The average rate for the prior week (2024-07-12) was
6.8% and
one month ago for the week of 2024-06-14, the
average rate was 6.83%.
The average rate one year ago was 6.89%.
For refis of the same type during the week of 2024-07-19, the average rate
was 6.73%.
Lake Havasu City 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 Havasu City level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| AMERICAN PACIFIC MORTGAGE CORPORATION | 15 | 6.63% | $9,062 |
| SUN AMERICAN MORTGAGE COMPANY | 12 | 6.67% | $7,523 |
| Flagstar Bank, FSB | 8 | 6.81% | $7,841 |
| AMERICAN FINANCIAL NETWORK, INC. | 4 | 6.47% | $10,216 |
| Plains Commerce Bank | 2 | 7.38% | $8,595 |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | 2 | 7.19% | $6,930 |
| AXIA FINANCIAL, LLC | 2 | 6.19% | $9,743 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 6.88% | $9,001 |
| VILLAGE CAPITAL MORTGAGE | 1 | 6.00% | $8,731 |
| Equity Prime Mortgage LLC | 1 | 6.75% | $10,954 |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | 1 | 7.00% | $7,163 |
| GUARANTEED RATE AFFINITY, LLC | 1 | 6.75% | $8,177 |
| PANORAMA MORTGAGE GROUP, LLC | 1 | 7.25% | $10,452 |
| Paramount Residential Mortgage Group, Inc. | 1 | 5.63% | $10,639 |
| Sierra Pacific Mortgage Company, Inc. | 1 | 6.13% | $7,082 |
The top Lake Havasu City USDA lender as defined by loan originations is AMERICAN PACIFIC MORTGAGE CORPORATION, with
15 USDA loans originated. Their average total fees are
$9,062, which is $1,539
higher than the next largest lender,
SUN AMERICAN MORTGAGE COMPANY.
The lowest fee Lake Havasu City USDA lenders (with over 10 loans originated) are
SUN AMERICAN MORTGAGE COMPANY ($7,523), AMERICAN PACIFIC MORTGAGE CORPORATION ($9,062), .
The lowest rate Lake Havasu City USDA lenders (with over 10 loans originated) are
AMERICAN PACIFIC MORTGAGE CORPORATION (6.63%), SUN AMERICAN MORTGAGE COMPANY (6.67%), .