Meridian USDA Loan Rates, Closing Costs & Stats

Meridian, MS

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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.

    Meridian's 7 lenders originated 19 USDA loans during 2023. The total origination value was $3,415,000, with an average USDA loan value of $179,737.

    Meridian USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Meridian averaged 6.89% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Meridian's average USDA mortgage closing costs are $4,767.

    The average rate for the prior week (2024-04-12) was 6.54% and one month ago for the week of 2024-03-15, the average rate was 6.32%.

    The average rate one year ago was 6.46%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

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

    Meridian 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 Meridian level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Trustmark National Bank 10 6.37% $7,460
    The Citizens National Bank of Meridian 4 6.28% $5,542
    OPEN MORTGAGE, LLC 1 6.00% $5,053
    GUILD MORTGAGE COMPANY 1 6.13% $9,006
    Regions Bank 1 6.75% $4,094
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.75% $4,067
    MORTGAGE INVESTORS GROUP, INC. 1 6.75% $7,296

    The top Meridian USDA lender as defined by loan originations is Trustmark National Bank, with 10 USDA loans originated. Their average total fees are $7,460, which is $1,917 higher than the next largest lender, The Citizens National Bank of Meridian.

    The lowest fee Meridian USDA lenders (with over 10 loans originated) are Trustmark National Bank ($7,460), .

    The lowest rate Meridian USDA lenders (with over 10 loans originated) are Trustmark National Bank (6.37%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Meridian (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 $138,800 (6.8%) $188,600 (9.2%) 0.00 416
    2018-02-01 $133,625 (8.9%) $184,124 (8.0%) 0.00 411
    2018-03-01 $136,500 (7.1%) $181,762 (4.2%) 0.00 401
    2018-04-01 $143,750 (6.5%) $190,515 (2.2%) 0.00 385
    2018-05-01 $147,500 (9.6%) $195,608 (3.0%) 0.00 383
    2018-06-01 $142,000 (3.9%) $194,521 (1.4%) 0.00 398
    2018-07-01 $144,250 (1.9%) $191,886 (0.2%) 0.00 410
    2018-08-01 $153,250 (5.2%) $190,583 (-1.6%) 0.00 402
    2018-09-01 $152,500 (6.3%) $193,671 (-1.2%) 0.00 402
    2018-10-01 $140,625 (-5.8%) $185,637 (-4.3%) 0.00 410
    2018-11-01 $148,500 (0.2%) $181,137 (-6.4%) 0.00 386
    2018-12-01 $147,000 (4.3%) $176,421 (-7.9%) 0.00 372
    2019-01-01 $145,500 (4.8%) $177,478 (-5.9%) 0.00 360
    2019-02-01 $149,000 (11.5%) $176,743 (-4.0%) 0.00 364
    2019-03-01 $146,543 (7.4%) $177,445 (-2.4%) 0.00 366
    2019-04-01 $147,818 (2.8%) $180,671 (-5.2%) 0.00 360
    2019-05-01 $144,725 (-1.9%) $188,018 (-3.9%) 0.00 350
    2019-06-01 $151,800 (6.9%) $194,988 (0.2%) 0.00 365
    2019-07-01 $156,600 (8.6%) $196,464 (2.4%) 0.00 365
    2019-08-01 $153,427 (0.1%) $193,330 (1.4%) 0.00 352
    2019-09-01 $145,818 (-4.4%) $189,665 (-2.1%) 0.00 336
    2019-10-01 $139,450 (-0.8%) $187,138 (0.8%) 0.00 323
    2019-11-01 $139,450 (-6.1%) $192,199 (6.1%) 0.00 298
    2019-12-01 $138,750 (-5.6%) $191,141 (8.3%) 0.00 291
    2020-01-01 $133,500 (-8.3%) $191,425 (7.9%) 0.00 284
    2020-02-01 $129,000 (-13.4%) $192,462 (8.9%) 0.00 285
    2020-03-01 $129,350 (-11.7%) $185,617 (4.6%) 0.00 288
    2020-04-01 $136,850 (-7.4%) $198,690 (10.0%) 0.00 278
    2020-05-01 $129,000 (-10.9%) $185,505 (-1.3%) 0.00 258
    2020-06-01 $127,950 (-15.7%) $184,083 (-5.6%) 0.00 227
    2020-07-01 $127,225 (-18.8%) $180,939 (-7.9%) 0.00 207
    2020-08-01 $134,000 (-12.7%) $185,880 (-3.9%) 0.00 194
    2020-09-01 $139,500 (-4.3%) $183,212 (-3.4%) 0.00 188
    2020-10-01 $150,000 (7.6%) $195,675 (4.6%) 0.00 190
    2020-11-01 $164,700 (18.1%) $196,614 (2.3%) 0.00 189
    2020-12-01 $149,925 (8.1%) $189,734 (-0.7%) 0.00 191
    2021-01-01 $169,700 (27.1%) $195,079 (1.9%) 0.00 168
    2021-02-01 $168,100 (30.3%) $194,165 (0.9%) 0.00 135
    2021-03-01 $164,500 (27.2%) $186,581 (0.5%) 0.00 119
    2021-04-01 $151,000 (10.3%) $192,000 (-3.4%) 0.00 115
    2021-05-01 $150,000 (16.3%) $198,830 (7.2%) 0.00 110
    2021-06-01 $154,450 (20.7%) $211,725 (15.0%) 0.00 107
    2021-07-01 $154,500 (21.4%) $210,002 (16.1%) 0.00 102
    2021-08-01 $159,450 (19.0%) $204,959 (10.3%) 0.00 114
    2021-09-01 $149,800 (7.4%) $210,938 (15.1%) 0.00 109
    2021-10-01 $149,900 (-0.1%) $207,545 (6.1%) 0.00 117
    2021-11-01 $159,500 (-3.2%) $236,151 (20.1%) 0.00 113
    2021-12-01 $147,175 (-1.8%) $233,163 (22.9%) 0.00 106
    2022-01-01 $140,000 (-17.5%) $235,162 (20.6%) 0.00 95
    2022-02-01 $154,700 (-8.0%) $242,838 (25.1%) 0.00 85
    2022-03-01 $165,000 (0.3%) $254,197 (36.2%) 0.00 85
    2022-04-01 $160,000 (6.0%) $247,263 (28.8%) 0.00 74
    2022-05-01 $189,175 (26.1%) $267,871 (34.7%) 0.00 80
    2022-06-01 $182,250 (18.0%) $267,857 (26.5%) 0.00 93
    2022-07-01 $170,000 (10.0%) $262,376 (24.9%) 0.00 114
    2022-08-01 $176,675 (10.8%) $270,855 (32.2%) 0.00 123
    2022-09-01 $174,300 (16.4%) $269,545 (27.8%) 0.00 116
    2022-10-01 $157,000 (4.7%) $241,067 (16.2%) 0.00 124
    2022-11-01 $162,100 (1.6%) $247,096 (4.6%) 0.00 130
    2022-12-01 $152,500 (3.6%) $236,074 (1.3%) 0.00 126
    2023-01-01 $158,000 (12.9%) $256,383 (9.0%) 0.00 120
    2023-02-01 $147,350 (-4.8%) $272,307 (12.1%) 0.00 116
    2023-03-01 $143,750 (-12.9%) $292,627 (15.1%) 0.00 91
    2023-04-01 $177,200 (10.8%) $296,235 (19.8%) 0.00 97
    2023-05-01 $192,700 (1.9%) $302,410 (12.9%) 0.00 97
    2023-06-01 $187,450 (2.9%) $290,182 (8.3%) 0.00 101
    2023-07-01 $213,750 (25.7%) $287,257 (9.5%) 0.00 124
    2023-08-01 $222,500 (25.9%) $281,785 (4.0%) 0.00 132
    2023-09-01 $190,500 (9.3%) $272,511 (1.1%) 0.00 125
    2023-10-01 $199,900 (27.3%) $284,398 (18.0%) 0.00 131
    2023-11-01 $191,200 (18.0%) $274,116 (10.9%) 0.00 137
    2023-12-01 $187,250 (22.8%) $269,861 (14.3%) 0.00 147
    2024-01-01 $169,950 (7.6%) $254,970 (-0.6%) 0.00 155
    2024-02-01 $167,000 (13.3%) $246,481 (-9.5%) 0.00 145
    2024-03-01 $169,950 (18.2%) $250,464 (-14.4%) 0.00 150
    Meridian's median listing price for 2024-03-01 was $169,950, a difference of $26,200 (18.2%) versus the prior year and $2,950 versus the prior month.

    Meridian's median listing price comes in at 0% of the national average.

    Meridian's average listing price for 2024-03-01 was $250,464, a difference of $-42,163 (-14.4%) versus the prior year and $3,983 versus the prior month.

    For the 2024-03-01 period, Meridian had 150 MLS listings, a difference of 5 listings (3%) versus the prior month and 59 listings (65%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Meridian (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,950 sqft
    2018-02-01 0 days 1,943 sqft
    2018-03-01 0 days 1,943 sqft
    2018-04-01 0 days 1,954 sqft
    2018-05-01 0 days 1,981 sqft
    2018-06-01 0 days 1,999 sqft
    2018-07-01 0 days 1,981 sqft
    2018-08-01 0 days 1,974 sqft
    2018-09-01 0 days 1,954 sqft
    2018-10-01 0 days 1,944 sqft
    2018-11-01 0 days 1,934 sqft
    2018-12-01 0 days 1,914 sqft
    2019-01-01 0 days 1,914 sqft
    2019-02-01 0 days 1,913 sqft
    2019-03-01 0 days 1,935 sqft
    2019-04-01 0 days 1,965 sqft
    2019-05-01 0 days 1,975 sqft
    2019-06-01 0 days 2,033 sqft
    2019-07-01 0 days 1,976 sqft
    2019-08-01 0 days 1,953 sqft
    2019-09-01 0 days 1,963 sqft
    2019-10-01 0 days 1,964 sqft
    2019-11-01 0 days 1,972 sqft
    2019-12-01 0 days 1,951 sqft
    2020-01-01 0 days 1,928 sqft
    2020-02-01 0 days 1,887 sqft
    2020-03-01 0 days 1,935 sqft
    2020-04-01 0 days 1,953 sqft
    2020-05-01 0 days 1,943 sqft
    2020-06-01 0 days 1,918 sqft
    2020-07-01 0 days 1,896 sqft
    2020-08-01 0 days 1,938 sqft
    2020-09-01 0 days 1,908 sqft
    2020-10-01 0 days 1,944 sqft
    2020-11-01 0 days 1,946 sqft
    2020-12-01 0 days 1,936 sqft
    2021-01-01 0 days 1,975 sqft
    2021-02-01 0 days 1,990 sqft
    2021-03-01 0 days 1,916 sqft
    2021-04-01 0 days 1,998 sqft
    2021-05-01 0 days 2,000 sqft
    2021-06-01 0 days 2,046 sqft
    2021-07-01 0 days 1,972 sqft
    2021-08-01 0 days 1,943 sqft
    2021-09-01 0 days 1,928 sqft
    2021-10-01 0 days 1,837 sqft
    2021-11-01 0 days 1,929 sqft
    2021-12-01 0 days 1,819 sqft
    2022-01-01 0 days 1,932 sqft
    2022-02-01 0 days 1,902 sqft
    2022-03-01 0 days 1,965 sqft
    2022-04-01 0 days 1,926 sqft
    2022-05-01 0 days 1,952 sqft
    2022-06-01 0 days 1,930 sqft
    2022-07-01 0 days 1,892 sqft
    2022-08-01 0 days 1,923 sqft
    2022-09-01 0 days 1,939 sqft
    2022-10-01 0 days 1,917 sqft
    2022-11-01 0 days 1,929 sqft
    2022-12-01 0 days 1,730 sqft
    2023-01-01 0 days 1,799 sqft
    2023-02-01 0 days 1,945 sqft
    2023-03-01 0 days 1,919 sqft
    2023-04-01 0 days 2,050 sqft
    2023-05-01 0 days 2,296 sqft
    2023-06-01 0 days 2,121 sqft
    2023-07-01 0 days 2,179 sqft
    2023-08-01 0 days 2,252 sqft
    2023-09-01 0 days 2,172 sqft
    2023-10-01 0 days 2,147 sqft
    2023-11-01 0 days 2,122 sqft
    2023-12-01 0 days 2,040 sqft
    2024-01-01 0 days 1,997 sqft
    2024-02-01 0 days 1,946 sqft
    2024-03-01 0 days 1,934 sqft
    Meridian's median listing age (time on market) for 2024-03-01 was 0 days.

    Meridian's median square footage for active listings during the 2024-03-01 period was 1,934 sqft. One year prior, the average listing was 1,919 sqft.