Pine Bluff USDA Loan Rates, Closing Costs & Stats
PINE BLUFF, AR
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.
Pine Bluff's 11 lenders originated 35 USDA loans during 2023. The total origination value was $5,215,000, with an average USDA loan value of $149,000.
Pine Bluff USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Pine Bluff
averaged
6.33%
for the week of 2024-11-08, compared to the national average (all USDA variants) of
6.477% for the same period.
Pine Bluff's average USDA mortgage closing costs are $4,660.
The average rate for the prior week (2024-11-01) was
6.6% and
one month ago for the week of 2024-10-04, the
average rate was 5.92%.
The average rate one year ago was 7.56%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.58%.
Pine Bluff 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 Pine Bluff level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| FirstTrust Home Loans, Inc. | 13 | 6.76% | $5,695 |
| MORTGAGE FINANCIAL SERVICES, LLC | 7 | 6.70% | $6,022 |
| EVERETT FINANCIAL, INC. | 6 | 6.65% | $6,375 |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | 2 | 6.13% | $8,129 |
| NFM, INC. | 1 | 6.63% | $7,541 |
| Simmons Bank | 1 | 6.38% | $6,304 |
| Bank of England | 1 | 5.75% | $4,235 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 6.60% | $3,803 |
| CARDINAL FINANCIAL | 1 | 6.75% | $7,741 |
| First Community Bank | 1 | 5.75% | $5,880 |
| Magnolia Bank | 1 | 7.13% | $3,859 |
The top Pine Bluff USDA lender as defined by loan originations is FirstTrust Home Loans, Inc., with
13 USDA loans originated. Their average total fees are
$5,695, which is $327
lower than the next largest lender,
MORTGAGE FINANCIAL SERVICES, LLC.
The lowest fee Pine Bluff USDA lenders (with over 10 loans originated) are
FirstTrust Home Loans, Inc. ($5,695), .
The lowest rate Pine Bluff USDA lenders (with over 10 loans originated) are
FirstTrust Home Loans, Inc. (6.76%), .