Russellville USDA Loan Rates, Closing Costs & Stats
Russellville, 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.
Russellville's 23 lenders originated 90 USDA loans during 2023. The total origination value was $13,130,000, with an average USDA loan value of $145,889.
Russellville USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Russellville
averaged
5.99%
for the week of 2024-10-25, compared to the national average (all USDA variants) of
6.29% for the same period.
Russellville's average USDA mortgage closing costs are $3,780.
The average rate for the prior week (2024-10-18) was
6.27% and
one month ago for the week of 2024-09-20, the
average rate was 5.69%.
The average rate one year ago was 7.31%.
For refis of the same type during the week of 2024-10-25, the average rate
was 6.29%.
Russellville 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 Russellville level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
Arvest Bank | 18 | 6.61% | $5,060 |
GMFS LLC | 16 | 6.27% | $4,302 |
Simmons Bank | 7 | 6.36% | $3,674 |
Bank of England | 6 | 6.25% | $4,514 |
First Security Bank | 6 | 6.06% | $3,503 |
Regions Bank | 6 | 6.33% | $3,980 |
Centennial Bank | 5 | 6.28% | $4,377 |
United Fidelity Funding Corp. | 3 | 5.92% | $5,872 |
Chambers Bank | 3 | 6.21% | $4,233 |
UNION HOME MORTGAGE CORP. | 3 | 7.04% | $5,887 |
FirstTrust Home Loans, Inc. | 2 | 6.50% | $5,021 |
CORNERSTONE HOME LENDING, INC. | 2 | 6.50% | $6,549 |
INTERLINC MORTGAGE SERVICES, LLC | 2 | 7.13% | $2,156 |
PRIMARY RESIDENTIAL MORTGAGE, INC. | 2 | 6.94% | $7,427 |
ACADEMY MORTGAGE CORPORATION | 1 | 6.25% | $7,631 |
MORTGAGE INVESTORS GROUP, INC. | 1 | 6.38% | $4,263 |
Gateway First Bank | 1 | 5.75% | $4,356 |
PRIMELENDING, A PLAINSCAPITAL COMPANY | 1 | 6.75% | $4,558 |
BROKER SOLUTIONS, INC. | 1 | 7.13% | $4,462 |
SENTE MORTGAGE, INC. | 1 | 7.13% | $4,957 |
AMERICAN FINANCIAL RESOURCES, INC. | 1 | 6.50% | $1,573 |
GUILD MORTGAGE COMPANY | 1 | 7.13% | $6,158 |
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | 1 | 7.13% | $6,612 |
The top Russellville USDA lender as defined by loan originations is Arvest Bank, with
18 USDA loans originated. Their average total fees are
$5,060, which is $758
higher than the next largest lender,
GMFS LLC.
The lowest fee Russellville USDA lenders (with over 10 loans originated) are
GMFS LLC ($4,302), Arvest Bank ($5,060), .
The lowest rate Russellville USDA lenders (with over 10 loans originated) are
GMFS LLC (6.27%), Arvest Bank (6.61%), .