Rome USDA Loan Rates, Closing Costs & Stats

ROME, GA

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.

Rome's 19 lenders originated 27 USDA loans during 2023. The total origination value was $5,315,000, with an average USDA loan value of $196,852.

Rome USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Rome averaged 6.81% for the week of 2024-07-19, compared to the national average (all USDA variants) of 6.628% for the same period.

Rome's average USDA mortgage closing costs are $4,809.

The average rate for the prior week (2024-07-12) was 6.44% and one month ago for the week of 2024-06-14, the average rate was 6.77%.

The average rate one year ago was 6.62%.

For refis of the same type during the week of 2024-07-19, the average rate was 6.82%.

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

Rome 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 Rome level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
HOMESTAR FINANCIAL CORPORATION 3 6.33% $3,024
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.58% $7,621
SWBC MORTGAGE CORPORATION 2 5.75% $6,838
First Heritage Mortgage, LLC 1 6.63% $8,657
Flagstar Bank, FSB 1 6.75% $5,568
GUARANTEED RATE AFFINITY, LLC 1 7.05% $7,637
GUARANTEED RATE, INC. 1 6.25% $4,972
Loan Simple, Inc. 1 6.75% $9,935
Mortgage Assurance Inc. 1 6.00% $7,382
MOVEMENT MORTGAGE, LLC 1 6.75% $8,741
PLAZA HOME MORTGAGE, INC. 1 7.63% $9,926
Prosperity Home Mortgage, LLC 1 7.49% $8,978
Renasant Bank 1 6.50% $8,390
SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.38% $9,137
Synovus Bank 1 6.25% $8,388
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $5,075
VANDERBILT MORTGAGE AND FINANCE, INC. 1 7.13% $6,718
CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $10,799
FirstBank 1 6.63% $6,380

The top Rome USDA lender as defined by loan originations is HOMESTAR FINANCIAL CORPORATION, with 3 USDA loans originated. Their average total fees are $3,024, which is $4,597 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Rome USDA lenders (with over 10 loans originated) are .

The lowest rate Rome USDA lenders (with over 10 loans originated) are .