Springfield USDA Loans

SPRINGFIELD, MO

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    • 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.

    Springfield's 56 lenders originated 618 USDA loans during 2021. The total origination value was $103,940,000, with an average USDA loan value of $168,188.

    Springfield USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Springfield averaged 5.11% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

    The average rate for the prior week (2022-05-13) was 5.3% and one month ago for the week of 2022-04-15, the average rate was 4.99%.

    The average rate one year ago was 3.14%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.15%.

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

    Springfield USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Springfield level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    FLAT BRANCH MORTGAGE, INC. 93 3.18% $4,054
    DAS Acquisition Company, LLC 80 3.16% $4,437
    GERSHMAN INVESTMENT CORP. 80 3.10% $4,343
    First Guaranty Mortgage Corporation 50 2.86% $5,056
    Guaranty Bank 46 2.72% $4,133
    BROKER SOLUTIONS, INC. 31 3.21% $4,764
    Arvest Bank 23 3.01% $4,279
    ASSEMBLIES OF GOD Credit Union 20 2.86% $3,953
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 19 3.08% $4,865
    The Central Trust Bank 17 2.90% $4,649
    Servion, Inc. 17 2.81% $4,165
    Great Southern Bank 17 2.48% $3,992
    Oakstar Bank 16 2.73% $3,774
    PRIMELENDING, A PLAINSCAPITAL COMPANY 12 3.27% $5,390
    PENNYMAC LOAN SERVICES, LLC 10 2.92% $4,778
    Springfield First Community Bank 10 2.78% $4,307
    LOANDEPOT.COM, LLC 6 3.10% $4,533
    U.S. Bank 5 3.30% $4,297
    Southern Bank 4 2.91% $3,819
    STEARNS LENDING, LLC 4 3.06% $3,114
    Regions Bank 4 2.94% $3,562
    BancorpSouth Bank 4 2.88% $4,086
    ON Q FINANCIAL, INC. 3 3.29% $4,881
    PREMIER MORTGAGE RESOURCES, L.L.C. 3 3.08% $4,434
    MID AMERICA MORTGAGE, INC. 2 2.56% $1,779
    BNC National Bank 2 2.75% $4,093
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 2.69% $3,508
    CMG MORTGAGE, INC. 2 3.00% $3,705
    EVERETT FINANCIAL, INC. 2 3.56% $3,248
    Flagstar Bank, FSB 2 2.88% $6,042
    GUARANTEED RATE, INC. 2 3.06% $5,184
    GUILD MORTGAGE COMPANY 2 2.81% $4,827
    Hometown Lenders, Inc. 2 2.94% $3,833
    MOVEMENT MORTGAGE, LLC 2 2.50% $4,027
    Hawthorn Bank 1 2.50% $4,459
    ACADEMY MORTGAGE CORPORATION 1 3.13% $5,289
    American Bank of Oklahoma 1 3.50% $4,818
    GUARANTY HOME MORTGAGE CORPORATION 1 3.50% $4,006
    Flanagan State Bank 1 3.75% $3,668
    First State Community Bank 1 2.50% $4,027
    PLAZA HOME MORTGAGE, INC. 1 2.75% $2,906
    FIRST INTEGRITY MORTGAGE SERVICES, INC. 1 3.50% $1,407
    CORNERSTONE HOME LENDING, INC. 1 2.50% $5,213
    Prosperity Home Mortgage, LLC 1 3.25% $3,524
    COMMUNITY MORTGAGE, LLC 1 2.75% $4,381
    Community Mortgage Banc Corporation 1 2.75% $3,322
    Simmons Bank 1 3.13% $4,471
    Colten Mortgage, LLC 1 3.75% $3,319
    Carrington Mortgage Services, LLC 1 2.25% $5,144
    Barrington Bank & Trust Company, N.A. 1 3.13% $4,285
    Amerifirst Financial, Inc. 1 2.75% $1,364
    TOWNE MORTGAGE COMPANY 1 3.13% $7,737
    UMB Bank 1 2.25% $4,601
    UNION HOME MORTGAGE CORP. 1 2.75% $8,621
    HOME POINT FINANCIAL CORPORATION 1 3.13% $3,518
    UNITED WHOLESALE MORTGAGE, LLC 1 3.00% $4,134

    The top Springfield USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 93 USDA loans originated. Their average total fees are $4,054, which is $382 lower than the next largest lender, DAS Acquisition Company, LLC.

    The lowest fee Springfield USDA lenders (with over 10 loans originated) are Oakstar Bank ($3,774), ASSEMBLIES OF GOD Credit Union ($3,953), Great Southern Bank ($3,992), FLAT BRANCH MORTGAGE, INC. ($4,054) and Guaranty Bank ($4,133).

    The lowest rate Springfield USDA lenders (with over 10 loans originated) are Great Southern Bank (2.48%), Guaranty Bank (2.72%), Oakstar Bank (2.73%), Springfield First Community Bank (2.78%) and Servion, Inc. (2.81%).