Sebring USDA Loan Rates, Closing Costs & Stats
SEBRING-AVON PARK, FL
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.
Sebring's 10 lenders originated 63 USDA loans during 2023. The total origination value was $13,375,000, with an average USDA loan value of $212,302.
Sebring USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Sebring
averaged
6.89%
for the week of 2024-07-19, compared to the national average (all USDA variants) of
6.628% for the same period.
Sebring's average USDA mortgage closing costs are $5,732.
The average rate for the prior week (2024-07-12) was
6.61% and
one month ago for the week of 2024-06-14, the
average rate was 6.95%.
The average rate one year ago was 6.8%.
For refis of the same type during the week of 2024-07-19, the average rate
was 6.53%.
Sebring 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 Sebring level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| METROPLEX MORTGAGE SERVICES, INC. | 41 | 6.68% | $8,421 |
| LEADERONE FINANCIAL CORPORATION | 7 | 6.86% | $8,328 |
| UNITED WHOLESALE MORTGAGE, LLC | 3 | 5.75% | $12,824 |
| PLAZA HOME MORTGAGE, INC. | 2 | 6.50% | $7,497 |
| MOVEMENT MORTGAGE, LLC | 1 | 6.75% | $8,622 |
| South State Bank | 1 | 5.99% | $6,914 |
| MID AMERICA MORTGAGE, INC. | 1 | 6.75% | $8,172 |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | 1 | 6.63% | $8,690 |
| Magnolia Bank | 1 | 5.88% | $8,463 |
| ACADEMY MORTGAGE CORPORATION | 1 | 6.38% | $11,645 |
The top Sebring USDA lender as defined by loan originations is METROPLEX MORTGAGE SERVICES, INC., with
41 USDA loans originated. Their average total fees are
$8,421, which is $93
higher than the next largest lender,
LEADERONE FINANCIAL CORPORATION.
The lowest fee Sebring USDA lenders (with over 10 loans originated) are
METROPLEX MORTGAGE SERVICES, INC. ($8,421), .
The lowest rate Sebring USDA lenders (with over 10 loans originated) are
METROPLEX MORTGAGE SERVICES, INC. (6.68%), .