Mobile USDA Loan Rates, Closing Costs & Stats

MOBILE, AL

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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.

    Mobile's 37 lenders originated 113 USDA loans during 2024. The total origination value was $23,505,000, with an average USDA loan value of $208,009.

    Mobile USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Mobile averaged -0.19% for the week of 2025-06-20, compared to the national average (all USDA variants) of 0% for the same period.

    Mobile's average USDA mortgage closing costs are $4,604.

    The average rate for the prior week (2025-06-13) was 6.41% and one month ago for the week of 2025-05-16, the average rate was 6.57%.

    The average rate one year ago was 6.69%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.26%.

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

    Mobile 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 Mobile level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    GMFS LLC 16 6.47% $3,800
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 6.27% $6,217
    EMBRACE HOME LOANS, INC. 9 6.54% $8,054
    DIRECT MORTGAGE LOANS, LLC 6 6.77% $7,531
    TOWNE MORTGAGE COMPANY 5 6.00% $7,309
    DHI MORTGAGE COMPANY, LTD. 5 4.27% $4,645
    Hancock Whitney Bank 4 6.22% $5,736
    Trustmark National Bank 4 5.72% $6,290
    Century Mortgage Company DBA Century Lending Company 3 6.25% $7,593
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.42% $6,575
    NEWREZ LLC 3 5.92% $5,538
    BancorpSouth 3 6.83% $4,743
    UNION HOME MORTGAGE CORP. 3 5.96% $8,353
    STOCKTON MORTGAGE CORPORATION 2 6.19% $6,819
    Princeton Mortgage Corporation 2 5.94% $7,083
    Consumer First Mortgage, Inc. 2 6.81% $6,512
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.06% $8,687
    FBC MORTGAGE, LLC 2 4.99% $5,263
    SWBC MORTGAGE CORPORATION 2 6.19% $3,160
    UNITED WHOLESALE MORTGAGE, LLC 1 6.25% $9,759
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.50% $4,998
    AmRes Corporation 1 5.75% $11,254
    BROKER SOLUTIONS, INC. 1 6.38% $8,851
    CARDINAL FINANCIAL 1 6.75% $5,299
    FirstBank 1 6.13% $8,614
    FIRST COMMUNITY MORTGAGE, INC. 1 7.49% $4,099
    GUILD MORTGAGE COMPANY 1 6.13% $6,279
    Magnolia Bank 1 5.99% $8,031
    MORTGAGE INVESTORS GROUP, INC. 1 6.63% $5,449
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $6,111
    NORWICH COMMERCIAL GROUP, INC. 1 7.25% $3,273
    Paramount Residential Mortgage Group, Inc. 1 5.75% $2,648
    Plains Commerce Bank 1 6.75% $6,480
    Renasant Bank 1 6.25% $6,643
    SUN WEST MORTGAGE COMPANY, INC. 1 6.38% $9,009
    Tyndall Federal Credit Union 1 6.13% $6,714
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $3,418

    The top Mobile USDA lender as defined by loan originations is GMFS LLC, with 16 USDA loans originated. Their average total fees are $3,800, which is $2,416 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Mobile USDA lenders (with over 10 loans originated) are GMFS LLC ($3,800), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,217), .

    The lowest rate Mobile USDA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.27%), GMFS LLC (6.47%), .