Picayune USDA Loan Rates, Closing Costs & Stats

Picayune, MS

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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.

    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 6.81% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

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

    The average rate for the prior week (2024-04-05) was 6.44% and one month ago for the week of 2024-03-08, the average rate was 6.5%.

    The average rate one year ago was 6.1%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.61%.

    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
    Picayune's median listing price for 2024-03-01 was $287,500, a difference of $27,555 (10.6%) versus the prior year and $4,495 versus the prior month.

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

    Picayune's average listing price for 2024-03-01 was $395,102, a difference of $64,900 (19.7%) versus the prior year and $1,799 versus the prior month.

    For the 2024-03-01 period, Picayune had 161 MLS listings, a difference of 9 listings (6%) versus the prior month and 27 listings (20%) 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
    Picayune's median listing age (time on market) for 2024-03-01 was 0 days.

    Picayune's median square footage for active listings during the 2024-03-01 period was 1,952 sqft. One year prior, the average listing was 1,902 sqft.