Sikeston USDA Loan Rates, Closing Costs & Stats
Sikeston, MO
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.
Sikeston's 16 lenders originated 59 USDA loans during 2023. The total origination value was $7,245,000, with an average USDA loan value of $122,797.
Sikeston USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Sikeston
averaged
6.41%
for the week of 2024-11-08, compared to the national average (all USDA variants) of
6.477% for the same period.
Sikeston's average USDA mortgage closing costs are $4,591.
The average rate for the prior week (2024-11-01) was
6.38% and
one month ago for the week of 2024-10-04, the
average rate was 5.91%.
The average rate one year ago was 7.25%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.48%.
Sikeston 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 Sikeston level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Flanagan State Bank | 15 | 6.51% | $6,982 |
| DAS Acquisition Company, LLC | 14 | 6.94% | $4,807 |
| FLAT BRANCH MORTGAGE, INC. | 9 | 6.96% | $4,321 |
| SUCCESS MORTGAGE PARTNERS, INC. | 2 | 6.00% | $3,989 |
| First State Community Bank | 2 | 5.81% | $3,940 |
| Gateway First Bank | 2 | 6.63% | $4,317 |
| GERSHMAN INVESTMENT CORP. | 2 | 6.94% | $4,826 |
| Magnolia Bank | 2 | 6.38% | $3,647 |
| Southern Bank | 2 | 7.19% | $4,560 |
| GUARANTY HOME MORTGAGE CORPORATION | 1 | 7.13% | $3,990 |
| Bank of England | 1 | 5.75% | $6,896 |
| NEWREZ LLC | 1 | 7.13% | $4,189 |
| Flagstar Bank, FSB | 1 | 6.75% | $4,976 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.75% | $4,104 |
| NP, Inc. | 1 | 7.13% | $3,662 |
| PLANET HOME LENDING, LLC | 1 | 6.99% | $4,455 |
The top Sikeston USDA lender as defined by loan originations is Flanagan State Bank, with
15 USDA loans originated. Their average total fees are
$6,982, which is $2,175
higher than the next largest lender,
DAS Acquisition Company, LLC.
The lowest fee Sikeston USDA lenders (with over 10 loans originated) are
DAS Acquisition Company, LLC ($4,807), Flanagan State Bank ($6,982), .
The lowest rate Sikeston USDA lenders (with over 10 loans originated) are
Flanagan State Bank (6.51%), DAS Acquisition Company, LLC (6.94%), .