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 17 lenders originated 50 USDA loans during 2024. The total origination value was $9,460,000, with an average USDA loan value of $189,200.
Picayune USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Picayune
averaged
-0.1%
for the week of 2025-06-20, compared to the national average (all USDA variants) of
0% for the same period.
Picayune's average USDA mortgage closing costs are $5,594.
The average rate for the prior week (2025-06-13) was
6.3% and
one month ago for the week of 2025-05-16, the
average rate was 6.56%.
The average rate one year ago was 6.58%.
For refis of the same type during the week of 2025-06-20, the average rate
was -0.09%.
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 | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| PLANET HOME LENDING, LLC | 23 | 6.33% | $8,070 |
| EUSTIS AND AMERICAN MORTGAGE COMPANY | 6 | 6.46% | $7,492 |
| KEESLER | 4 | 6.06% | $4,754 |
| Regions Bank | 2 | 5.69% | $12,738 |
| BankPlus | 2 | 6.25% | $2,730 |
| Hancock Whitney Bank | 1 | 6.25% | $5,538 |
| Magnolia Bank | 1 | 6.87% | $7,227 |
| MOVEMENT MORTGAGE, LLC | 1 | 6.75% | $9,102 |
| STOCKTON MORTGAGE CORPORATION | 1 | 0.00% | $10,488 |
| SUMMIT FUNDING, INC. | 1 | 6.50% | $8,107 |
| Trustmark National Bank | 1 | 6.25% | $6,681 |
| ACOPIA, LLC | 1 | 6.50% | $8,394 |
| UNION HOME MORTGAGE CORP. | 1 | 6.88% | $6,974 |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | 1 | 6.13% | $12,216 |
| Bank of England | 1 | 6.50% | $8,210 |
| CMG MORTGAGE, INC. | 1 | 7.63% | $9,580 |
| GMFS LLC | 1 | 6.13% | $5,217 |
The top Picayune USDA lender as defined by loan originations is PLANET HOME LENDING, LLC, with
23 USDA loans originated. Their average total fees are
$8,070, which is $578
higher than the next largest lender,
EUSTIS AND AMERICAN MORTGAGE COMPANY.
The lowest fee Picayune USDA lenders (with over 10 loans originated) are
PLANET HOME LENDING, LLC ($8,070), .
The lowest rate Picayune USDA lenders (with over 10 loans originated) are
PLANET HOME LENDING, LLC (6.33%), .