Montgomery USDA Loans

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 40 lenders originated 170 USDA loans during 2021. The total origination value was $30,310,000, with an average USDA loan value of $178,294.

Montgomery USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Montgomery averaged 5.56% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

The average rate for the prior week (2022-05-13) was 5.55% and one month ago for the week of 2022-04-15, the average rate was 5.14%.

The average rate one year ago was 3.19%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.03%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Montgomery level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
CROSSCOUNTRY MORTGAGE, LLC 26 3.05% $2,659
GUILD MORTGAGE COMPANY 25 3.03% $5,161
Trustmark National Bank 18 2.69% $5,075
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 17 3.09% $4,971
Renasant Bank 11 2.86% $5,221
GMFS LLC 10 2.99% $2,296
BAY EQUITY LLC 8 3.00% $5,120
CERTAINTY HOME LOANS, LLC 5 2.85% $6,204
Regions Bank 5 2.80% $4,129
Hamilton Mortgage Corporation 3 2.46% $2,933
CMG MORTGAGE, INC. 3 3.12% $8,003
SouthPoint Bank 2 2.38% $2,307
LOANDEPOT.COM, LLC 2 3.44% $4,898
Truist Bank 2 2.69% $4,401
CALIBER HOME LOANS, INC. 2 3.00% $3,369
Flagstar Bank, FSB 2 2.63% $4,673
NEWREZ LLC 2 2.50% $5,417
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.44% $5,604
FirstBank 2 2.75% $4,566
TJC Mortgage, Inc. 1 3.38% $6,388
A Mortgage Boutique, LLC 1 3.00% $3,918
VANDERBILT MORTGAGE AND FINANCE, INC. 1 3.88% $4,302
Assurance Financial Group, L.L.C. 1 2.50% $5,831
Bank of England 1 2.75% $6,957
BBVA USA 1 2.75% $6,274
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.63% $5,913
Colten Mortgage, LLC 1 2.63% $5,318
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 2.88% $5,254
FIRST COMMUNITY MORTGAGE, INC. 1 3.13% $3,186
First Federal Bank, A FSB 1 2.25% $3,409
Hometown Lenders, Inc. 1 3.38% $4,471
INTERLINC MORTGAGE SERVICES, LLC 1 2.75% $2,560
LAKEVIEW LOAN SERVICING, LLC 1 2.88% $3,568
MAX Credit Union 1 2.63% $1,626
METROPLEX MORTGAGE SERVICES, INC. 1 3.13% $7,775
MORTGAGE INVESTORS GROUP, INC. 1 2.63% $5,828
MOVEMENT MORTGAGE, LLC 1 3.50% $5,350
Nations Lending Corporation 1 3.00% $3,171
PENNYMAC LOAN SERVICES, LLC 1 3.25% $4,177
T2 FINANCIAL LLC 1 2.63% $7,960

The top Montgomery USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 26 USDA loans originated. Their average total fees are $2,659, which is $2,502 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Montgomery USDA lenders (with over 10 loans originated) are GMFS LLC ($2,296), CROSSCOUNTRY MORTGAGE, LLC ($2,659), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($4,971), Trustmark National Bank ($5,075) and GUILD MORTGAGE COMPANY ($5,161).

The lowest rate Montgomery USDA lenders (with over 10 loans originated) are Trustmark National Bank (2.69%), Renasant Bank (2.86%), GMFS LLC (2.99%), GUILD MORTGAGE COMPANY (3.03%) and CROSSCOUNTRY MORTGAGE, LLC (3.05%).


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 $169,000 (5.7%) $217,640 (0.0%) 0.62 1,896
2018-02-01 $175,000 (8.0%) $224,928 (3.4%) 0.63 1,885
2018-03-01 $177,900 (6.4%) $230,545 (2.9%) 0.62 1,954
2018-04-01 $189,450 (12.1%) $238,035 (5.2%) 0.64 2,056
2018-05-01 $192,325 (13.5%) $242,215 (5.9%) 0.64 2,069
2018-06-01 $189,900 (12.1%) $242,965 (5.9%) 0.63 2,082
2018-07-01 $194,900 (15.0%) $243,232 (6.7%) 0.65 2,065
2018-08-01 $197,500 (16.9%) $246,427 (8.8%) 0.66 1,986
2018-09-01 $199,900 (15.6%) $244,974 (7.1%) 0.67 1,948
2018-10-01 $195,500 (15.1%) $241,262 (6.3%) 0.65 1,937
2018-11-01 $194,700 (15.7%) $241,524 (9.4%) 0.65 1,852
2018-12-01 $192,900 (13.8%) $239,626 (8.7%) 0.66 1,784
2019-01-01 $192,950 (14.2%) $238,199 (9.5%) 0.67 1,694
2019-02-01 $196,250 (12.1%) $242,792 (7.9%) 0.66 1,718
2019-03-01 $206,564 (16.1%) $252,870 (9.7%) 0.67 1,709
2019-04-01 $219,275 (15.7%) $265,866 (11.7%) 0.69 1,741
2019-05-01 $222,450 (15.7%) $265,055 (9.4%) 0.69 1,670
2019-06-01 $219,900 (15.8%) $261,117 (7.5%) 0.68 1,698
2019-07-01 $221,355 (13.6%) $260,896 (7.3%) 0.69 1,690
2019-08-01 $222,529 (12.7%) $258,539 (4.9%) 0.70 1,624
2019-09-01 $219,900 (10.0%) $255,352 (4.2%) 0.70 1,578
2019-10-01 $218,875 (12.0%) $252,209 (4.5%) 0.70 1,579
2019-11-01 $215,000 (10.4%) $250,512 (3.7%) 0.69 1,558
2019-12-01 $219,900 (14.0%) $252,172 (5.2%) 0.73 1,484
2020-01-01 $223,950 (16.1%) $253,552 (6.5%) 0.75 1,410
2020-02-01 $225,000 (14.7%) $257,734 (6.2%) 0.73 1,386
2020-03-01 $238,300 (15.4%) $267,182 (5.7%) 0.74 1,374
2020-04-01 $241,450 (10.1%) $270,480 (1.7%) 0.75 1,367
2020-05-01 $243,000 (9.2%) $269,523 (1.7%) 0.74 1,277
2020-06-01 $244,625 (11.2%) $271,290 (3.9%) 0.71 1,171
2020-07-01 $243,200 (9.9%) $270,231 (3.6%) 0.70 1,103
2020-08-01 $239,000 (7.4%) $270,828 (4.8%) 0.68 1,105
2020-09-01 $239,000 (8.7%) $272,521 (6.7%) 0.68 1,001
2020-10-01 $237,000 (8.3%) $273,337 (8.4%) 0.68 935
2020-11-01 $214,450 (-0.3%) $262,091 (4.6%) 0.61 922
2020-12-01 $209,900 (-4.6%) $260,798 (3.4%) 0.62 831
2021-01-01 $209,900 (-6.3%) $260,143 (2.6%) 0.62 741
2021-02-01 $224,900 (0.0%) $279,778 (8.6%) 0.65 582
2021-03-01 $233,500 (-2.0%) $287,406 (7.6%) 0.65 547
2021-04-01 $261,400 (8.3%) $298,554 (10.4%) 0.70 561
2021-05-01 $257,900 (6.1%) $295,447 (9.6%) 0.68 577
2021-06-01 $237,000 (-3.1%) $285,084 (5.1%) 0.62 579
2021-07-01 $234,950 (-3.4%) $287,818 (6.5%) 0.61 607
2021-08-01 $239,450 (0.2%) $292,168 (7.9%) 0.63 640
2021-09-01 $238,700 (-0.1%) $299,361 (9.9%) 0.63 596
2021-10-01 $234,900 (-0.9%) $284,744 (4.2%) 0.62 552
2021-11-01 $219,450 (2.3%) $275,436 (5.1%) 0.58 518
2021-12-01 $215,450 (2.6%) $266,247 (2.1%) 0.57 508
2022-01-01 $204,900 (-2.4%) $270,714 (4.1%) 0.55 437
2022-02-01 $199,400 (-11.3%) $287,650 (2.8%) 0.51 376
2022-03-01 $222,450 (-4.7%) $291,714 (1.5%) 0.55 429
2022-04-01 $249,000 (-4.7%) $300,737 (0.7%) 0.59 447
Montgomery's median listing price for 2022-04-01 was $249,000, a difference of $-12,400 (-4.7%) versus the prior year and $26,550 versus the prior month.

Montgomery's median listing price comes in at 59% of the national average.

Montgomery's average listing price for 2022-04-01 was $300,737, a difference of $2,183 (0.7%) versus the prior year and $9,023 versus the prior month.

For the 2022-04-01 period, Montgomery had 447 MLS listings, a difference of 18 listings (4%) versus the prior month and -114 listings (-20%) 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
2018-01-01 111 days 1,951 sqft
2018-02-01 112 days 1,983 sqft
2018-03-01 91 days 1,988 sqft
2018-04-01 77 days 2,052 sqft
2018-05-01 75 days 2,068 sqft
2018-06-01 83 days 2,068 sqft
2018-07-01 85 days 2,078 sqft
2018-08-01 86 days 2,099 sqft
2018-09-01 88 days 2,104 sqft
2018-10-01 91 days 2,077 sqft
2018-11-01 95 days 2,072 sqft
2018-12-01 102 days 2,043 sqft
2019-01-01 112 days 2,038 sqft
2019-02-01 104 days 2,094 sqft
2019-03-01 85 days 2,141 sqft
2019-04-01 75 days 2,177 sqft
2019-05-01 67 days 2,194 sqft
2019-06-01 70 days 2,171 sqft
2019-07-01 75 days 2,156 sqft
2019-08-01 78 days 2,146 sqft
2019-09-01 86 days 2,134 sqft
2019-10-01 87 days 2,102 sqft
2019-11-01 92 days 2,100 sqft
2019-12-01 95 days 2,119 sqft
2020-01-01 99 days 2,132 sqft
2020-02-01 97 days 2,144 sqft
2020-03-01 79 days 2,188 sqft
2020-04-01 71 days 2,196 sqft
2020-05-01 77 days 2,218 sqft
2020-06-01 83 days 2,235 sqft
2020-07-01 74 days 2,245 sqft
2020-08-01 60 days 2,241 sqft
2020-09-01 64 days 2,244 sqft
2020-10-01 70 days 2,221 sqft
2020-11-01 66 days 2,134 sqft
2020-12-01 71 days 2,093 sqft
2021-01-01 76 days 2,104 sqft
2021-02-01 71 days 2,217 sqft
2021-03-01 51 days 2,243 sqft
2021-04-01 37 days 2,229 sqft
2021-05-01 35 days 2,200 sqft
2021-06-01 39 days 2,076 sqft
2021-07-01 38 days 1,978 sqft
2021-08-01 38 days 2,073 sqft
2021-09-01 49 days 2,084 sqft
2021-10-01 54 days 2,073 sqft
2021-11-01 60 days 2,049 sqft
2021-12-01 55 days 1,933 sqft
2022-01-01 59 days 1,904 sqft
2022-02-01 49 days 1,959 sqft
2022-03-01 36 days 1,904 sqft
2022-04-01 37 days 2,035 sqft
Montgomery's median listing age (time on market) for 2022-04-01 was 37 days. This is 1% longer than the same period one year ago.

Montgomery's median square footage for active listings during the 2022-04-01 period was 2,035 sqft. One year prior, the average listing was 2,229 sqft.