Montgomery USDA Loan Rates, Closing Costs & Stats

MONTGOMERY, AL

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.

Montgomery's 14 lenders originated 30 USDA loans during 2023. The total origination value was $5,510,000, with an average USDA loan value of $183,667.

Montgomery USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Montgomery averaged 6.74% for the week of 2024-05-17, compared to the national average (all USDA variants) of 6.75% for the same period.

Montgomery's average USDA mortgage closing costs are $4,367.

The average rate for the prior week (2024-05-10) was 6.98% and one month ago for the week of 2024-04-12, the average rate was 6.51%.

The average rate one year ago was 6.59%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.94%.

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

Montgomery 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 Montgomery level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
CROSSCOUNTRY MORTGAGE, LLC 10 6.43% $7,583
GMFS LLC 3 6.58% $2,848
NEWREZ LLC 3 5.88% $8,514
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.21% $6,029
GUILD MORTGAGE COMPANY 2 6.88% $4,894
Mortgage Research Center, LLC 1 7.25% $3,537
PNC Bank 1 8.00% $4,619
Regions Bank 1 5.75% $4,639
Ameris Bank 1 5.25% $10,963
UNITED WHOLESALE MORTGAGE, LLC 1 5.50% $9,191
CMG MORTGAGE, INC. 1 6.25% $10,742
FIRST COMMUNITY MORTGAGE, INC. 1 7.13% $4,434
Hamilton Mortgage Corporation 1 7.25% $4,639
HOMESIDE FINANCIAL, LLC 1 6.63% $5,440

The top Montgomery USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 10 USDA loans originated. Their average total fees are $7,583, which is $4,735 higher than the next largest lender, GMFS LLC.

The lowest fee Montgomery USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC ($7,583), .

The lowest rate Montgomery USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC (6.43%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Montgomery (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 $170,950 (3.6%) $220,991 (-2.5%) 0.63 1,893
2018-02-01 $178,500 (5.9%) $232,723 (2.2%) 0.65 1,892
2018-03-01 $179,900 (5.9%) $240,141 (1.8%) 0.63 1,969
2018-04-01 $190,423 (12.0%) $250,631 (4.8%) 0.65 2,070
2018-05-01 $194,900 (14.3%) $254,105 (4.7%) 0.65 2,077
2018-06-01 $194,900 (13.7%) $254,760 (4.7%) 0.65 2,088
2018-07-01 $197,500 (15.5%) $255,202 (5.9%) 0.66 2,059
2018-08-01 $199,700 (17.5%) $260,118 (9.0%) 0.67 1,982
2018-09-01 $199,900 (11.7%) $259,236 (8.5%) 0.67 1,944
2018-10-01 $197,222 (12.8%) $254,361 (7.0%) 0.67 1,920
2018-11-01 $194,950 (14.7%) $251,814 (9.8%) 0.66 1,825
2018-12-01 $191,000 (11.1%) $245,494 (8.6%) 0.66 1,746
2019-01-01 $192,725 (12.7%) $246,305 (11.5%) 0.67 1,655
2019-02-01 $198,000 (10.9%) $251,364 (8.0%) 0.67 1,685
2019-03-01 $207,957 (15.6%) $261,604 (8.9%) 0.68 1,682
2019-04-01 $220,700 (15.9%) $277,077 (10.6%) 0.70 1,732
2019-05-01 $224,900 (15.4%) $275,829 (8.6%) 0.70 1,648
2019-06-01 $220,000 (12.9%) $271,721 (6.7%) 0.69 1,672
2019-07-01 $223,700 (13.3%) $271,656 (6.5%) 0.70 1,664
2019-08-01 $223,536 (11.9%) $267,873 (3.0%) 0.71 1,605
2019-09-01 $221,491 (10.8%) $263,807 (1.8%) 0.71 1,571
2019-10-01 $219,900 (11.5%) $260,544 (2.4%) 0.71 1,546
2019-11-01 $216,000 (10.8%) $253,416 (0.6%) 0.71 1,523
2019-12-01 $219,900 (15.1%) $254,096 (3.5%) 0.73 1,451
2020-01-01 $223,700 (16.1%) $255,402 (3.7%) 0.75 1,380
2020-02-01 $225,500 (13.9%) $264,362 (5.2%) 0.74 1,359
2020-03-01 $239,450 (15.1%) $274,927 (5.1%) 0.75 1,346
2020-04-01 $243,000 (10.1%) $277,224 (0.1%) 0.76 1,328
2020-05-01 $244,900 (8.9%) $276,293 (0.2%) 0.74 1,243
2020-06-01 $244,900 (11.3%) $276,288 (1.7%) 0.72 1,133
2020-07-01 $243,650 (8.9%) $273,981 (0.9%) 0.71 1,075
2020-08-01 $237,950 (6.5%) $278,935 (4.1%) 0.68 1,081
2020-09-01 $238,975 (7.9%) $281,214 (6.6%) 0.68 980
2020-10-01 $239,000 (8.7%) $284,416 (9.2%) 0.68 903
2020-11-01 $217,450 (0.7%) $273,234 (7.8%) 0.64 895
2020-12-01 $212,700 (-3.3%) $271,413 (6.8%) 0.63 816
2021-01-01 $209,000 (-6.6%) $269,779 (5.6%) 0.62 736
2021-02-01 $224,900 (-0.3%) $294,066 (11.2%) 0.65 580
2021-03-01 $234,975 (-1.9%) $299,358 (8.9%) 0.67 554
2021-04-01 $261,975 (7.8%) $322,527 (16.3%) 0.71 560
2021-05-01 $259,450 (5.9%) $320,022 (15.8%) 0.69 570
2021-06-01 $233,500 (-4.7%) $295,269 (6.9%) 0.61 571
2021-07-01 $229,900 (-5.6%) $296,109 (8.1%) 0.61 619
2021-08-01 $234,900 (-1.3%) $302,226 (8.4%) 0.63 637
2021-09-01 $235,000 (-1.7%) $303,238 (7.8%) 0.63 601
2021-10-01 $232,500 (-2.7%) $295,671 (4.0%) 0.62 549
2021-11-01 $233,225 (7.3%) $284,706 (4.2%) 0.62 513
2021-12-01 $211,150 (-0.7%) $271,292 (0.0%) 0.57 484
2022-01-01 $205,000 (-1.9%) $274,556 (1.8%) 0.55 436
2022-02-01 $201,650 (-10.3%) $297,262 (1.1%) 0.52 365
2022-03-01 $229,600 (-2.3%) $297,026 (-0.8%) 0.57 414
2022-04-01 $249,900 (-4.6%) $305,900 (-5.2%) 0.60 437
2022-05-01 $247,450 (-4.6%) $307,212 (-4.0%) 0.57 507
2022-06-01 $249,900 (7.0%) $303,377 (2.8%) 0.56 578
2022-07-01 $288,500 (25.5%) $323,968 (9.4%) 0.65 678
2022-08-01 $280,575 (19.4%) $334,367 (10.6%) 0.65 729
2022-09-01 $269,800 (14.8%) $348,648 (15.0%) 0.63 709
2022-10-01 $264,186 (13.6%) $344,656 (16.6%) 0.62 758
2022-11-01 $262,500 (12.6%) $332,419 (16.8%) 0.63 792
2022-12-01 $259,900 (23.1%) $326,581 (20.4%) 0.64 765
2023-01-01 $276,800 (35.0%) $327,803 (19.4%) 0.69 692
2023-02-01 $301,900 (49.7%) $342,583 (15.3%) 0.73 663
2023-03-01 $308,700 (34.5%) $358,378 (20.7%) 0.73 646
2023-04-01 $320,400 (28.2%) $382,842 (25.2%) 0.75 646
2023-05-01 $308,700 (24.8%) $388,347 (26.4%) 0.70 652
2023-06-01 $299,224 (19.7%) $372,440 (22.8%) 0.67 690
2023-07-01 $315,000 (9.2%) $370,584 (14.4%) 0.72 743
2023-08-01 $312,300 (11.3%) $361,803 (8.2%) 0.72 797
2023-09-01 $305,000 (13.1%) $355,753 (2.0%) 0.71 848
2023-10-01 $297,600 (12.7%) $338,096 (-1.9%) 0.70 926
2023-11-01 $296,100 (12.8%) $338,919 (2.0%) 0.71 918
2023-12-01 $299,000 (15.0%) $331,287 (1.4%) 0.73 903
2024-01-01 $289,675 (4.7%) $325,032 (-0.9%) 0.71 836
2024-02-01 $294,450 (-2.5%) $336,035 (-1.9%) 0.71 807
2024-03-01 $309,900 (0.4%) $354,598 (-1.1%) 0.73 853
2024-04-01 $317,500 (-0.9%) $377,483 (-1.4%) 0.74 865
Montgomery's median listing price for 2024-04-01 was $317,500, a difference of $-2,900 (-0.9%) versus the prior year and $7,600 versus the prior month.

Montgomery's median listing price comes in at 74% of the national average.

Montgomery's average listing price for 2024-04-01 was $377,483, a difference of $-5,359 (-1.4%) versus the prior year and $22,885 versus the prior month.

For the 2024-04-01 period, Montgomery had 865 MLS listings, a difference of 12 listings (1%) versus the prior month and 219 listings (34%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Montgomery (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 99 days 1,962 sqft
2018-02-01 96 days 1,994 sqft
2018-03-01 71 days 2,004 sqft
2018-04-01 66 days 2,070 sqft
2018-05-01 66 days 2,083 sqft
2018-06-01 74 days 2,080 sqft
2018-07-01 75 days 2,099 sqft
2018-08-01 78 days 2,123 sqft
2018-09-01 79 days 2,135 sqft
2018-10-01 80 days 2,090 sqft
2018-11-01 85 days 2,087 sqft
2018-12-01 92 days 2,052 sqft
2019-01-01 100 days 2,050 sqft
2019-02-01 84 days 2,100 sqft
2019-03-01 73 days 2,146 sqft
2019-04-01 65 days 2,192 sqft
2019-05-01 61 days 2,205 sqft
2019-06-01 65 days 2,188 sqft
2019-07-01 71 days 2,172 sqft
2019-08-01 74 days 2,161 sqft
2019-09-01 77 days 2,138 sqft
2019-10-01 80 days 2,117 sqft
2019-11-01 85 days 2,112 sqft
2019-12-01 87 days 2,125 sqft
2020-01-01 92 days 2,140 sqft
2020-02-01 87 days 2,154 sqft
2020-03-01 64 days 2,200 sqft
2020-04-01 63 days 2,213 sqft
2020-05-01 71 days 2,240 sqft
2020-06-01 73 days 2,246 sqft
2020-07-01 61 days 2,245 sqft
2020-08-01 51 days 2,241 sqft
2020-09-01 55 days 2,245 sqft
2020-10-01 62 days 2,238 sqft
2020-11-01 59 days 2,141 sqft
2020-12-01 65 days 2,089 sqft
2021-01-01 67 days 2,080 sqft
2021-02-01 60 days 2,204 sqft
2021-03-01 43 days 2,218 sqft
2021-04-01 30 days 2,220 sqft
2021-05-01 30 days 2,183 sqft
2021-06-01 35 days 2,066 sqft
2021-07-01 35 days 1,992 sqft
2021-08-01 35 days 2,066 sqft
2021-09-01 45 days 2,078 sqft
2021-10-01 49 days 2,080 sqft
2021-11-01 53 days 2,093 sqft
2021-12-01 48 days 1,934 sqft
2022-01-01 51 days 1,883 sqft
2022-02-01 41 days 1,957 sqft
2022-03-01 29 days 1,916 sqft
2022-04-01 29 days 2,074 sqft
2022-05-01 25 days 2,076 sqft
2022-06-01 30 days 2,016 sqft
2022-07-01 31 days 2,105 sqft
2022-08-01 40 days 2,091 sqft
2022-09-01 46 days 2,092 sqft
2022-10-01 45 days 2,075 sqft
2022-11-01 50 days 2,079 sqft
2022-12-01 61 days 2,089 sqft
2023-01-01 74 days 2,109 sqft
2023-02-01 58 days 2,164 sqft
2023-03-01 52 days 2,165 sqft
2023-04-01 50 days 2,181 sqft
2023-05-01 46 days 2,152 sqft
2023-06-01 48 days 2,090 sqft
2023-07-01 46 days 2,140 sqft
2023-08-01 45 days 2,141 sqft
2023-09-01 51 days 2,131 sqft
2023-10-01 53 days 2,051 sqft
2023-11-01 59 days 2,023 sqft
2023-12-01 68 days 2,045 sqft
2024-01-01 78 days 2,019 sqft
2024-02-01 65 days 2,020 sqft
2024-03-01 53 days 2,097 sqft
2024-04-01 50 days 2,122 sqft
Montgomery's median listing age (time on market) for 2024-04-01 was 50 days. This is 0% longer than the same period one year ago.

Montgomery's median square footage for active listings during the 2024-04-01 period was 2,122 sqft. One year prior, the average listing was 2,181 sqft.