Montgomery USDA Loans

MONTGOMERY, AL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.