Picayune USDA Loan Rates, Closing Costs & Stats

Picayune, MS

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.

Picayune's 18 lenders originated 50 USDA loans during 2023. The total origination value was $9,000,000, with an average USDA loan value of $180,000.

Picayune USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Picayune averaged -0.29% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

Picayune's average USDA mortgage closing costs are $5,403.

The average rate for the prior week (2024-11-22) was 6.21% and one month ago for the week of 2024-10-25, the average rate was 6.41%.

The average rate one year ago was 7.01%.

For refis of the same type during the week of 2024-11-29, the average rate was 0.1%.

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

Picayune 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 Picayune level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
PLANET HOME LENDING, LLC 15 6.46% $8,950
GMFS LLC 8 6.22% $4,359
DRAPER AND KRAMER MORTGAGE CORP. 5 7.02% $7,295
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.56% $7,294
EUSTIS AND AMERICAN MORTGAGE COMPANY 2 7.50% $7,853
UNION HOME MORTGAGE CORP. 2 6.44% $8,447
Assurance Financial Group, L.L.C. 2 7.06% $6,797
Northpointe Bank 1 5.75% $10,034
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.50% $4,649
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $6,585
AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $3,670
UNITED WHOLESALE MORTGAGE, LLC 1 5.63% $6,734
America's Mortgage Resource, Inc. 1 6.75% $5,216
Bank of England 1 6.84% $7,715
CARDINAL FINANCIAL 1 5.75% $5,729
CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $7,691
GUARANTEED RATE, INC. 1 7.25% $5,300
MID AMERICA MORTGAGE, INC. 1 7.25% $9,395

The top Picayune USDA lender as defined by loan originations is PLANET HOME LENDING, LLC, with 15 USDA loans originated. Their average total fees are $8,950, which is $4,592 higher than the next largest lender, GMFS LLC.

The lowest fee Picayune USDA lenders (with over 10 loans originated) are PLANET HOME LENDING, LLC ($8,950), .

The lowest rate Picayune USDA lenders (with over 10 loans originated) are PLANET HOME LENDING, LLC (6.46%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Picayune (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 $175,000 (-2.7%) $262,403 (12.4%) 0.00 316
2018-02-01 $173,650 (-0.8%) $262,310 (12.5%) 0.00 318
2018-03-01 $171,900 (-2.0%) $268,859 (14.6%) 0.00 310
2018-04-01 $181,950 (7.0%) $275,722 (20.3%) 0.00 300
2018-05-01 $182,075 (5.9%) $286,120 (24.6%) 0.00 309
2018-06-01 $189,000 (10.4%) $287,590 (23.3%) 0.00 309
2018-07-01 $186,875 (3.9%) $291,029 (22.3%) 0.00 297
2018-08-01 $185,750 (2.9%) $290,111 (21.5%) 0.00 297
2018-09-01 $182,700 (1.6%) $289,759 (21.5%) 0.00 304
2018-10-01 $179,850 (-5.3%) $289,097 (16.7%) 0.00 287
2018-11-01 $169,900 (-7.1%) $265,367 (6.0%) 0.00 286
2018-12-01 $175,000 (-2.2%) $271,250 (3.3%) 0.00 277
2019-01-01 $174,950 (0.0%) $263,796 (0.5%) 0.00 268
2019-02-01 $179,900 (3.6%) $273,419 (4.2%) 0.00 273
2019-03-01 $182,086 (5.9%) $277,548 (3.2%) 0.00 286
2019-04-01 $185,000 (1.7%) $282,967 (2.6%) 0.00 294
2019-05-01 $189,900 (4.3%) $286,558 (0.2%) 0.00 293
2019-06-01 $189,900 (0.5%) $284,459 (-1.1%) 0.00 297
2019-07-01 $180,450 (-3.4%) $266,249 (-8.5%) 0.00 297
2019-08-01 $182,391 (-1.8%) $267,263 (-7.9%) 0.00 306
2019-09-01 $186,502 (2.1%) $268,391 (-7.4%) 0.00 304
2019-10-01 $188,893 (5.0%) $269,042 (-6.9%) 0.00 304
2019-11-01 $179,900 (5.9%) $255,005 (-3.9%) 0.00 298
2019-12-01 $172,500 (-1.4%) $244,449 (-9.9%) 0.00 284
2020-01-01 $172,500 (-1.4%) $235,148 (-10.9%) 0.00 258
2020-02-01 $174,950 (-2.8%) $237,137 (-13.3%) 0.00 260
2020-03-01 $180,825 (-0.7%) $242,491 (-12.6%) 0.00 232
2020-04-01 $186,000 (0.5%) $253,113 (-10.6%) 0.00 214
2020-05-01 $199,900 (5.3%) $275,783 (-3.8%) 0.00 195
2020-06-01 $197,500 (4.0%) $287,986 (1.2%) 0.00 178
2020-07-01 $199,990 (10.8%) $288,707 (8.4%) 0.00 178
2020-08-01 $207,000 (13.5%) $291,879 (9.2%) 0.00 160
2020-09-01 $247,725 (32.8%) $305,905 (14.0%) 0.00 146
2020-10-01 $214,950 (13.8%) $295,192 (9.7%) 0.00 150
2020-11-01 $227,450 (26.4%) $307,365 (20.5%) 0.00 140
2020-12-01 $227,450 (31.9%) $320,536 (31.1%) 0.00 144
2021-01-01 $225,000 (30.4%) $315,414 (34.1%) 0.00 140
2021-02-01 $227,350 (30.0%) $327,247 (38.0%) 0.00 126
2021-03-01 $217,500 (20.3%) $331,255 (36.6%) 0.00 106
2021-04-01 $237,000 (27.4%) $349,297 (38.0%) 0.00 88
2021-05-01 $237,000 (18.6%) $428,834 (55.5%) 0.00 79
2021-06-01 $239,750 (21.4%) $425,689 (47.8%) 0.00 86
2021-07-01 $243,600 (21.8%) $501,161 (73.6%) 0.00 96
2021-08-01 $229,000 (10.6%) $462,322 (58.4%) 0.00 101
2021-09-01 $237,860 (-4.0%) $465,657 (52.2%) 0.00 103
2021-10-01 $229,700 (6.9%) $388,306 (31.5%) 0.00 123
2021-11-01 $224,900 (-1.1%) $380,161 (23.7%) 0.00 124
2021-12-01 $237,080 (4.2%) $391,327 (22.1%) 0.00 112
2022-01-01 $233,000 (3.6%) $402,965 (27.8%) 0.00 101
2022-02-01 $228,000 (0.3%) $428,648 (31.0%) 0.00 89
2022-03-01 $229,500 (5.5%) $430,398 (29.9%) 0.00 85
2022-04-01 $250,050 (5.5%) $460,690 (31.9%) 0.00 85
2022-05-01 $254,846 (7.5%) $442,764 (3.3%) 0.00 97
2022-06-01 $260,000 (8.5%) $419,863 (-1.4%) 0.00 116
2022-07-01 $262,500 (7.8%) $439,876 (-12.2%) 0.00 139
2022-08-01 $259,296 (13.2%) $439,249 (-5.0%) 0.00 145
2022-09-01 $258,725 (8.8%) $385,703 (-17.2%) 0.00 157
2022-10-01 $269,450 (17.3%) $351,114 (-9.6%) 0.00 151
2022-11-01 $266,125 (18.3%) $345,645 (-9.1%) 0.00 161
2022-12-01 $265,250 (11.9%) $347,320 (-11.3%) 0.00 164
2023-01-01 $261,330 (12.2%) $334,589 (-17.0%) 0.00 145
2023-02-01 $259,923 (14.0%) $317,154 (-26.0%) 0.00 125
2023-03-01 $259,945 (13.3%) $330,202 (-23.3%) 0.00 134
2023-04-01 $269,000 (7.6%) $362,682 (-21.3%) 0.00 124
2023-05-01 $264,450 (3.8%) $376,307 (-15.0%) 0.00 127
2023-06-01 $286,625 (10.2%) $392,785 (-6.5%) 0.00 124
2023-07-01 $267,450 (1.9%) $347,848 (-20.9%) 0.00 121
2023-08-01 $264,500 (2.0%) $335,157 (-23.7%) 0.00 133
2023-09-01 $280,000 (8.2%) $355,496 (-7.8%) 0.00 165
2023-10-01 $281,875 (4.6%) $358,075 (2.0%) 0.00 174
2023-11-01 $289,725 (8.9%) $369,489 (6.9%) 0.00 168
2023-12-01 $281,755 (6.2%) $378,863 (9.1%) 0.00 170
2024-01-01 $290,000 (11.0%) $390,364 (16.7%) 0.00 155
2024-02-01 $283,005 (8.9%) $393,303 (24.0%) 0.00 152
2024-03-01 $287,500 (10.6%) $395,102 (19.7%) 0.00 161
2024-04-01 $299,700 (11.4%) $400,065 (10.3%) 0.00 166
2024-05-01 $318,750 (20.5%) $379,109 (0.7%) 0.00 172
2024-06-01 $320,000 (11.6%) $378,686 (-3.6%) 0.00 182
2024-07-01 $316,250 (18.3%) $370,366 (6.5%) 0.00 203
2024-08-01 $312,000 (18.0%) $366,271 (9.3%) 0.00 207
2024-09-01 $306,400 (9.4%) $362,722 (2.0%) 0.00 226
2024-10-01 $296,450 (5.2%) $355,276 (-0.8%) 0.00 230
Picayune's median listing price for 2024-10-01 was $296,450, a difference of $14,575 (5.2%) versus the prior year and $-9,950 versus the prior month.

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

Picayune's average listing price for 2024-10-01 was $355,276, a difference of $-2,799 (-0.8%) versus the prior year and $-7,446 versus the prior month.

For the 2024-10-01 period, Picayune had 230 MLS listings, a difference of 4 listings (2%) versus the prior month and 56 listings (32%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Picayune (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,001 sqft
2018-02-01 0 days 2,000 sqft
2018-03-01 0 days 1,998 sqft
2018-04-01 0 days 2,025 sqft
2018-05-01 0 days 2,002 sqft
2018-06-01 0 days 1,999 sqft
2018-07-01 0 days 1,988 sqft
2018-08-01 0 days 1,997 sqft
2018-09-01 0 days 2,016 sqft
2018-10-01 0 days 2,002 sqft
2018-11-01 0 days 1,935 sqft
2018-12-01 0 days 1,985 sqft
2019-01-01 0 days 1,984 sqft
2019-02-01 0 days 1,983 sqft
2019-03-01 0 days 1,968 sqft
2019-04-01 0 days 1,965 sqft
2019-05-01 0 days 1,985 sqft
2019-06-01 0 days 2,000 sqft
2019-07-01 0 days 1,928 sqft
2019-08-01 0 days 1,904 sqft
2019-09-01 0 days 1,910 sqft
2019-10-01 0 days 1,913 sqft
2019-11-01 0 days 1,874 sqft
2019-12-01 0 days 1,884 sqft
2020-01-01 0 days 1,846 sqft
2020-02-01 0 days 1,797 sqft
2020-03-01 0 days 1,817 sqft
2020-04-01 0 days 1,847 sqft
2020-05-01 0 days 1,932 sqft
2020-06-01 0 days 1,966 sqft
2020-07-01 0 days 1,952 sqft
2020-08-01 0 days 1,945 sqft
2020-09-01 0 days 2,167 sqft
2020-10-01 0 days 2,142 sqft
2020-11-01 0 days 2,108 sqft
2020-12-01 0 days 2,067 sqft
2021-01-01 0 days 2,096 sqft
2021-02-01 0 days 2,141 sqft
2021-03-01 0 days 2,148 sqft
2021-04-01 0 days 2,254 sqft
2021-05-01 0 days 2,117 sqft
2021-06-01 0 days 2,089 sqft
2021-07-01 0 days 2,011 sqft
2021-08-01 0 days 1,974 sqft
2021-09-01 0 days 2,074 sqft
2021-10-01 0 days 1,944 sqft
2021-11-01 0 days 1,975 sqft
2021-12-01 0 days 2,045 sqft
2022-01-01 0 days 1,995 sqft
2022-02-01 0 days 2,114 sqft
2022-03-01 0 days 2,126 sqft
2022-04-01 0 days 2,173 sqft
2022-05-01 0 days 2,040 sqft
2022-06-01 0 days 2,132 sqft
2022-07-01 0 days 2,048 sqft
2022-08-01 0 days 2,034 sqft
2022-09-01 0 days 2,033 sqft
2022-10-01 0 days 2,030 sqft
2022-11-01 0 days 1,894 sqft
2022-12-01 0 days 1,887 sqft
2023-01-01 0 days 1,902 sqft
2023-02-01 0 days 1,892 sqft
2023-03-01 0 days 1,902 sqft
2023-04-01 0 days 1,925 sqft
2023-05-01 0 days 1,939 sqft
2023-06-01 0 days 1,932 sqft
2023-07-01 0 days 1,878 sqft
2023-08-01 0 days 1,831 sqft
2023-09-01 0 days 1,886 sqft
2023-10-01 0 days 1,959 sqft
2023-11-01 0 days 2,005 sqft
2023-12-01 0 days 1,974 sqft
2024-01-01 0 days 1,885 sqft
2024-02-01 0 days 1,844 sqft
2024-03-01 0 days 1,952 sqft
2024-04-01 0 days 2,019 sqft
2024-05-01 0 days 2,058 sqft
2024-06-01 0 days 2,078 sqft
2024-07-01 0 days 2,008 sqft
2024-08-01 0 days 1,975 sqft
2024-09-01 0 days 1,945 sqft
2024-10-01 0 days 1,921 sqft
Picayune's median listing age (time on market) for 2024-10-01 was 0 days.

Picayune's median square footage for active listings during the 2024-10-01 period was 1,921 sqft. One year prior, the average listing was 1,959 sqft.