New Orleans USDA Loan Rates, Closing Costs & Stats

NEW ORLEANS-METAIRIE, LA

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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.

    New Orleans's 49 lenders originated 242 USDA loans during 2023. The total origination value was $53,270,000, with an average USDA loan value of $220,124.

    New Orleans USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in New Orleans averaged 6.43% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    New Orleans's average USDA mortgage closing costs are $5,233.

    The average rate for the prior week (2025-02-07) was 6.59% and one month ago for the week of 2025-01-10, the average rate was 6.43%.

    The average rate one year ago was 6.52%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.77%.

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

    New Orleans 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 New Orleans level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GMFS LLC 61 6.34% $4,391
    UNITED WHOLESALE MORTGAGE, LLC 17 6.50% $8,004
    CROSSCOUNTRY MORTGAGE, LLC 16 6.81% $7,800
    DHI MORTGAGE COMPANY, LTD. 11 5.12% $5,773
    FIDELITY BANK 11 6.61% $7,351
    UNION HOME MORTGAGE CORP. 11 6.65% $7,935
    NEWREZ LLC 10 6.54% $8,284
    Gulf Coast Bank and Trust Company 9 6.29% $7,353
    EUSTIS AND AMERICAN MORTGAGE COMPANY 8 6.17% $8,181
    MOVEMENT MORTGAGE, LLC 7 6.13% $7,004
    MID AMERICA MORTGAGE, INC. 4 6.78% $6,121
    GUARANTEED RATE, INC. 4 6.23% $7,108
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.75% $10,265
    DRAPER AND KRAMER MORTGAGE CORP. 4 6.78% $8,149
    Equity Prime Mortgage LLC 4 7.25% $7,287
    CARDINAL FINANCIAL 4 7.06% $7,151
    STANDARD MORTGAGE CORPORATION 3 6.03% $7,089
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.75% $6,712
    Goldwater Bank, N.A. 3 7.00% $7,821
    SUN WEST MORTGAGE COMPANY, INC. 2 6.02% $6,191
    DSLD MORTGAGE, LLC 2 5.99% $3,304
    PLANET HOME LENDING, LLC 2 6.44% $5,491
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.38% $11,589
    CMG MORTGAGE, INC. 2 6.25% $7,404
    SUMMIT FUNDING, INC. 2 6.00% $13,718
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.44% $10,172
    T2 FINANCIAL LLC 2 6.44% $10,119
    Flagstar Bank, FSB 2 6.50% $8,190
    GUILD MORTGAGE COMPANY 2 6.63% $8,124
    V.I.P. MORTGAGE, INC. 1 6.63% $6,031
    BROKER SOLUTIONS, INC. 1 7.13% $7,858
    Century Mortgage Company DBA Century Lending Company 1 6.99% $7,481
    CHURCHILL MORTGAGE CORPORATION 1 7.13% $7,951
    Citizens Bank 1 6.13% $7,270
    Cornerstone First Mortgage, Inc 1 5.63% $16,372
    EVERETT FINANCIAL, INC. 1 6.63% $9,582
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.63% $9,409
    First Horizon Bank 1 6.35% $7,011
    Gateway First Bank 1 5.91% $2,360
    GENEVA FINANCIAL, LLC 1 6.63% $7,009
    INTERLINC MORTGAGE SERVICES, LLC 1 6.25% $3,053
    Nations Lending Corporation 1 7.75% $3,883
    NTFN, INC. 1 5.50% $11,634
    Plains Commerce Bank 1 6.25% $7,837
    PLAZA HOME MORTGAGE, INC. 1 5.63% $10,868
    Regions Bank 1 5.75% $8,522
    Republic State Mortgage Co. 1 7.25% $6,759
    SWBC MORTGAGE CORPORATION 1 7.63% $7,476
    AMERICAN FINANCIAL NETWORK, INC. 1 7.13% $8,670

    The top New Orleans USDA lender as defined by loan originations is GMFS LLC, with 61 USDA loans originated. Their average total fees are $4,391, which is $3,612 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee New Orleans USDA lenders (with over 10 loans originated) are GMFS LLC ($4,391), DHI MORTGAGE COMPANY, LTD. ($5,773), FIDELITY BANK ($7,351), CROSSCOUNTRY MORTGAGE, LLC ($7,800) and UNION HOME MORTGAGE CORP. ($7,935).

    The lowest rate New Orleans USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.12%), GMFS LLC (6.34%), UNITED WHOLESALE MORTGAGE, LLC (6.50%), NEWREZ LLC (6.54%) and FIDELITY BANK (6.61%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - New Orleans (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 $267,025 (8.8%) $377,737 (7.3%) 1.00 3,200
    2018-02-01 $262,500 (7.4%) $383,267 (8.5%) 0.97 3,222
    2018-03-01 $274,600 (8.8%) $389,794 (8.1%) 0.96 3,348
    2018-04-01 $287,000 (10.2%) $400,265 (9.3%) 0.96 3,382
    2018-05-01 $289,000 (9.1%) $406,844 (8.1%) 0.97 3,401
    2018-06-01 $289,000 (7.4%) $400,945 (4.8%) 0.95 3,454
    2018-07-01 $280,000 (5.7%) $399,543 (6.1%) 0.93 3,332
    2018-08-01 $285,000 (5.9%) $401,231 (7.4%) 0.94 3,300
    2018-09-01 $279,900 (4.4%) $397,519 (7.9%) 0.94 3,253
    2018-10-01 $282,499 (5.8%) $397,734 (6.5%) 0.95 3,314
    2018-11-01 $282,000 (5.4%) $394,652 (3.6%) 0.95 3,290
    2018-12-01 $279,000 (5.3%) $389,903 (2.7%) 0.95 3,208
    2019-01-01 $274,500 (2.8%) $382,936 (1.4%) 0.93 3,038
    2019-02-01 $279,000 (6.3%) $392,533 (2.4%) 0.93 3,064
    2019-03-01 $287,286 (4.6%) $404,955 (3.9%) 0.93 2,951
    2019-04-01 $298,000 (3.8%) $418,790 (4.6%) 0.92 2,882
    2019-05-01 $299,000 (3.5%) $428,931 (5.4%) 0.91 2,895
    2019-06-01 $297,590 (3.0%) $422,991 (5.5%) 0.91 2,929
    2019-07-01 $296,625 (5.9%) $421,745 (5.6%) 0.91 2,943
    2019-08-01 $291,682 (2.3%) $411,669 (2.6%) 0.90 2,996
    2019-09-01 $290,455 (3.8%) $409,625 (3.1%) 0.91 3,044
    2019-10-01 $287,250 (1.7%) $407,301 (2.4%) 0.92 3,050
    2019-11-01 $285,000 (1.1%) $407,246 (3.2%) 0.93 3,023
    2019-12-01 $281,800 (1.0%) $405,142 (3.9%) 0.93 2,866
    2020-01-01 $279,900 (2.0%) $404,728 (5.7%) 0.93 2,699
    2020-02-01 $289,000 (3.6%) $407,368 (3.8%) 0.92 2,647
    2020-03-01 $297,000 (3.4%) $410,483 (1.4%) 0.91 2,696
    2020-04-01 $299,000 (0.3%) $412,387 (-1.5%) 0.91 2,683
    2020-05-01 $299,900 (0.3%) $427,994 (-0.2%) 0.91 2,559
    2020-06-01 $317,000 (6.5%) $437,492 (3.4%) 0.88 2,413
    2020-07-01 $324,900 (9.5%) $451,312 (7.0%) 0.91 2,246
    2020-08-01 $325,000 (11.4%) $459,360 (11.6%) 0.93 2,147
    2020-09-01 $329,950 (13.6%) $467,366 (14.1%) 0.93 2,124
    2020-10-01 $335,000 (16.6%) $479,052 (17.6%) 0.94 2,114
    2020-11-01 $326,500 (14.6%) $463,340 (13.8%) 0.96 2,123
    2020-12-01 $323,875 (14.9%) $456,279 (12.6%) 0.97 2,053
    2021-01-01 $309,000 (10.4%) $441,279 (9.0%) 0.94 1,964
    2021-02-01 $314,450 (8.8%) $453,226 (11.3%) 0.92 1,842
    2021-03-01 $323,450 (8.9%) $463,788 (13.0%) 0.93 1,758
    2021-04-01 $335,000 (12.0%) $482,363 (17.0%) 0.92 1,639
    2021-05-01 $339,000 (13.0%) $486,481 (13.7%) 0.90 1,589
    2021-06-01 $339,350 (7.1%) $476,970 (9.0%) 0.90 1,666
    2021-07-01 $339,000 (4.3%) $475,507 (5.4%) 0.89 1,777
    2021-08-01 $330,000 (1.5%) $465,358 (1.3%) 0.90 1,891
    2021-09-01 $337,000 (2.1%) $466,930 (-0.1%) 0.90 1,774
    2021-10-01 $335,000 (0.0%) $468,759 (-2.2%) 0.90 1,607
    2021-11-01 $340,000 (4.1%) $481,128 (3.8%) 0.93 1,511
    2021-12-01 $339,000 (4.7%) $475,484 (4.2%) 0.92 1,394
    2022-01-01 $339,000 (9.7%) $477,073 (8.1%) 0.93 1,274
    2022-02-01 $340,250 (8.2%) $478,831 (5.7%) 0.91 1,203
    2022-03-01 $347,000 (7.3%) $472,854 (2.0%) 0.87 1,264
    2022-04-01 $344,450 (2.8%) $469,236 (-2.7%) 0.83 1,409
    2022-05-01 $342,500 (1.0%) $474,749 (-2.4%) 0.80 1,629
    2022-06-01 $347,000 (2.3%) $473,616 (-0.7%) 0.78 1,884
    2022-07-01 $339,000 (0.0%) $460,295 (-3.2%) 0.77 2,239
    2022-08-01 $327,450 (-0.8%) $445,691 (-4.2%) 0.77 2,510
    2022-09-01 $325,000 (-3.6%) $443,155 (-5.1%) 0.77 2,632
    2022-10-01 $325,000 (-3.0%) $444,594 (-5.2%) 0.77 2,824
    2022-11-01 $322,500 (-5.2%) $447,613 (-7.0%) 0.79 2,909
    2022-12-01 $319,000 (-5.9%) $440,755 (-7.3%) 0.80 2,793
    2023-01-01 $318,450 (-6.1%) $443,421 (-7.1%) 0.80 2,669
    2023-02-01 $321,950 (-5.4%) $455,123 (-5.0%) 0.78 2,633
    2023-03-01 $326,000 (-6.1%) $458,035 (-3.1%) 0.78 2,754
    2023-04-01 $334,900 (-2.8%) $473,835 (1.0%) 0.79 2,849
    2023-05-01 $339,450 (-0.9%) $482,235 (1.6%) 0.78 3,034
    2023-06-01 $339,450 (-2.2%) $474,106 (0.1%) 0.78 3,133
    2023-07-01 $331,250 (-2.3%) $464,554 (0.9%) 0.77 3,296
    2023-08-01 $334,938 (2.3%) $461,324 (3.5%) 0.78 3,305
    2023-09-01 $334,999 (3.1%) $459,897 (3.8%) 0.78 3,410
    2023-10-01 $331,950 (2.1%) $462,956 (4.1%) 0.79 3,572
    2023-11-01 $325,000 (0.8%) $454,427 (1.5%) 0.79 3,639
    2023-12-01 $325,000 (1.9%) $450,611 (2.2%) 0.79 3,506
    2024-01-01 $324,531 (1.9%) $448,322 (1.1%) 0.79 3,330
    2024-02-01 $324,975 (0.9%) $451,480 (-0.8%) 0.78 3,322
    2024-03-01 $325,000 (-0.3%) $460,702 (0.6%) 0.77 3,428
    2024-04-01 $330,000 (-1.5%) $464,577 (-2.0%) 0.78 3,597
    2024-05-01 $332,450 (-2.1%) $467,679 (-3.0%) 0.77 3,690
    2024-06-01 $329,000 (-3.1%) $459,124 (-3.2%) 0.75 3,782
    2024-07-01 $324,500 (-2.0%) $448,390 (-3.5%) 0.75 3,983
    2024-08-01 $317,000 (-5.4%) $438,757 (-4.9%) 0.76 4,216
    2024-09-01 $319,000 (-4.8%) $440,125 (-4.3%) 0.76 3,844
    2024-10-01 $323,250 (-2.6%) $443,066 (-4.3%) 0.77 3,918
    2024-11-01 $320,500 (-1.4%) $445,140 (-2.0%) 0.78 3,912
    2024-12-01 $319,000 (-1.9%) $442,794 (-1.7%) 0.81 3,761
    2025-01-01 $317,000 (-2.3%) $437,577 (-2.4%) 0.00 3,644
    New Orleans's median listing price for 2025-01-01 was $317,000, a difference of $-7,531 (-2.3%) versus the prior year and $-2,000 versus the prior month.

    New Orleans's median listing price comes in at 0% of the national average.

    New Orleans's average listing price for 2025-01-01 was $437,577, a difference of $-10,745 (-2.4%) versus the prior year and $-5,217 versus the prior month.

    For the 2025-01-01 period, New Orleans had 3,644 MLS listings, a difference of -117 listings (-3%) versus the prior month and 314 listings (9%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - New Orleans (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 82 days 1,706 sqft
    2018-02-01 80 days 1,702 sqft
    2018-03-01 62 days 1,722 sqft
    2018-04-01 58 days 1,747 sqft
    2018-05-01 59 days 1,761 sqft
    2018-06-01 59 days 1,753 sqft
    2018-07-01 65 days 1,749 sqft
    2018-08-01 68 days 1,747 sqft
    2018-09-01 68 days 1,747 sqft
    2018-10-01 72 days 1,743 sqft
    2018-11-01 72 days 1,744 sqft
    2018-12-01 75 days 1,728 sqft
    2019-01-01 84 days 1,721 sqft
    2019-02-01 78 days 1,737 sqft
    2019-03-01 69 days 1,757 sqft
    2019-04-01 61 days 1,780 sqft
    2019-05-01 58 days 1,801 sqft
    2019-06-01 61 days 1,803 sqft
    2019-07-01 67 days 1,804 sqft
    2019-08-01 68 days 1,794 sqft
    2019-09-01 72 days 1,786 sqft
    2019-10-01 72 days 1,779 sqft
    2019-11-01 71 days 1,759 sqft
    2019-12-01 81 days 1,748 sqft
    2020-01-01 88 days 1,733 sqft
    2020-02-01 81 days 1,727 sqft
    2020-03-01 62 days 1,741 sqft
    2020-04-01 69 days 1,753 sqft
    2020-05-01 75 days 1,750 sqft
    2020-06-01 82 days 1,762 sqft
    2020-07-01 66 days 1,761 sqft
    2020-08-01 64 days 1,766 sqft
    2020-09-01 67 days 1,771 sqft
    2020-10-01 67 days 1,775 sqft
    2020-11-01 68 days 1,761 sqft
    2020-12-01 73 days 1,745 sqft
    2021-01-01 75 days 1,710 sqft
    2021-02-01 69 days 1,712 sqft
    2021-03-01 60 days 1,728 sqft
    2021-04-01 58 days 1,704 sqft
    2021-05-01 57 days 1,723 sqft
    2021-06-01 54 days 1,750 sqft
    2021-07-01 51 days 1,745 sqft
    2021-08-01 52 days 1,713 sqft
    2021-09-01 63 days 1,700 sqft
    2021-10-01 78 days 1,696 sqft
    2021-11-01 85 days 1,719 sqft
    2021-12-01 74 days 1,700 sqft
    2022-01-01 73 days 1,720 sqft
    2022-02-01 64 days 1,720 sqft
    2022-03-01 43 days 1,734 sqft
    2022-04-01 37 days 1,726 sqft
    2022-05-01 38 days 1,752 sqft
    2022-06-01 39 days 1,764 sqft
    2022-07-01 42 days 1,762 sqft
    2022-08-01 49 days 1,748 sqft
    2022-09-01 55 days 1,747 sqft
    2022-10-01 58 days 1,750 sqft
    2022-11-01 63 days 1,749 sqft
    2022-12-01 74 days 1,737 sqft
    2023-01-01 80 days 1,733 sqft
    2023-02-01 69 days 1,750 sqft
    2023-03-01 58 days 1,756 sqft
    2023-04-01 56 days 1,776 sqft
    2023-05-01 57 days 1,784 sqft
    2023-06-01 58 days 1,769 sqft
    2023-07-01 60 days 1,763 sqft
    2023-08-01 64 days 1,764 sqft
    2023-09-01 66 days 1,768 sqft
    2023-10-01 67 days 1,768 sqft
    2023-11-01 67 days 1,759 sqft
    2023-12-01 77 days 1,750 sqft
    2024-01-01 84 days 1,736 sqft
    2024-02-01 83 days 1,737 sqft
    2024-03-01 67 days 1,753 sqft
    2024-04-01 60 days 1,769 sqft
    2024-05-01 58 days 1,758 sqft
    2024-06-01 61 days 1,750 sqft
    2024-07-01 67 days 1,739 sqft
    2024-08-01 69 days 1,730 sqft
    2024-09-01 79 days 1,726 sqft
    2024-10-01 79 days 1,733 sqft
    2024-11-01 80 days 1,723 sqft
    2024-12-01 83 days 1,718 sqft
    2025-01-01 0 days 1,704 sqft
    New Orleans's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    New Orleans's median square footage for active listings during the 2025-01-01 period was 1,704 sqft. One year prior, the average listing was 1,736 sqft.