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
6.95%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Montgomery's average USDA mortgage closing costs are $4,367.
The average rate for the prior week (2024-04-12) was
6.51% and
one month ago for the week of 2024-03-15, the
average rate was 6.39%.
The average rate one year ago was 6.43%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.25%.
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 |
Montgomery's median listing price comes in at 73% of the national average.
Montgomery's average listing price for 2024-03-01 was $354,598, a difference of $-3,780 (-1.1%) versus the prior year and $18,563 versus the prior month.
For the 2024-03-01 period, Montgomery had 853 MLS listings, a difference of 46 listings (6%) versus the prior month and 207 listings (32%) 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 | 2,138 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 |
Montgomery's median square footage for active listings during the 2024-03-01 period was 2,097 sqft. One year prior, the average listing was 2,165 sqft.