Mcalester USDA Loan Rates, Closing Costs & Stats
McAlester, OK
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.
Mcalester's 12 lenders originated 33 USDA loans during 2023. The total origination value was $4,705,000, with an average USDA loan value of $142,576.
Mcalester USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Mcalester
averaged
6.85%
for the week of 2024-07-19, compared to the national average (all USDA variants) of
6.628% for the same period.
Mcalester's average USDA mortgage closing costs are $4,432.
The average rate for the prior week (2024-07-12) was
6.97% and
one month ago for the week of 2024-06-14, the
average rate was 7.01%.
The average rate one year ago was 6.76%.
For refis of the same type during the week of 2024-07-19, the average rate
was 6.73%.
Mcalester 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 Mcalester level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
GUILD MORTGAGE COMPANY | 13 | 6.81% | $8,376 |
Arvest Bank | 4 | 6.56% | $5,244 |
FLAT BRANCH MORTGAGE, INC. | 3 | 6.58% | $4,709 |
OPEN MORTGAGE, LLC | 3 | 6.42% | $4,892 |
Mortgage Investment Services Corporation | 2 | 7.00% | $2,759 |
First United Bank and Trust Company | 2 | 7.13% | $6,010 |
Bank of England | 1 | 6.25% | $6,572 |
NEWREZ LLC | 1 | 7.25% | $7,229 |
BancFirst | 1 | 6.13% | $7,434 |
PLAZA HOME MORTGAGE, INC. | 1 | 5.75% | $5,206 |
Stride Bank | 1 | 6.38% | $8,322 |
UNITED WHOLESALE MORTGAGE, LLC | 1 | 8.01% | $6,192 |
The top Mcalester USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with
13 USDA loans originated. Their average total fees are
$8,376, which is $3,132
higher than the next largest lender,
Arvest Bank.
The lowest fee Mcalester USDA lenders (with over 10 loans originated) are
GUILD MORTGAGE COMPANY ($8,376), .
The lowest rate Mcalester USDA lenders (with over 10 loans originated) are
GUILD MORTGAGE COMPANY (6.81%), .