Talladega USDA Loan Rates, Closing Costs & Stats
Talladega-Sylacauga, AL
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.
Talladega's 17 lenders originated 51 USDA loans during 2023. The total origination value was $8,615,000, with an average USDA loan value of $168,922.
Talladega USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Talladega
averaged
6.4%
for the week of 2024-11-08, compared to the national average (all USDA variants) of
6.477% for the same period.
Talladega's average USDA mortgage closing costs are $4,663.
The average rate for the prior week (2024-11-01) was
6.67% and
one month ago for the week of 2024-10-04, the
average rate was 6.2%.
The average rate one year ago was 7.54%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.38%.
Talladega 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 Talladega level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| MOVEMENT MORTGAGE, LLC | 13 | 6.91% | $5,987 |
| UNITED WHOLESALE MORTGAGE, LLC | 6 | 6.40% | $5,646 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 5 | 6.28% | $5,092 |
| CORNERSTONE HOME LENDING, INC. | 4 | 6.03% | $7,076 |
| SouthPoint Bank | 3 | 6.88% | $2,671 |
| AMERICAN FINANCIAL RESOURCES, INC. | 2 | 6.94% | $4,186 |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | 2 | 6.75% | $8,069 |
| Prosperity Home Mortgage, LLC | 2 | 6.24% | $4,824 |
| RELIANCE FIRST CAPITAL, LLC | 2 | 6.88% | $3,765 |
| VANDERBILT MORTGAGE AND FINANCE, INC. | 2 | 6.81% | $4,785 |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | 1 | 7.38% | $7,781 |
| BAY EQUITY LLC | 1 | 6.75% | $4,876 |
| Assurance Financial Group, L.L.C. | 1 | 6.13% | $6,909 |
| Renasant Bank | 1 | 6.25% | $7,203 |
| GUILD MORTGAGE COMPANY | 1 | 6.63% | $5,664 |
| HOMESTAR FINANCIAL CORPORATION | 1 | 6.75% | $5,567 |
| First Horizon Bank | 1 | 6.63% | $3,658 |
The top Talladega USDA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with
13 USDA loans originated. Their average total fees are
$5,987, which is $341
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Talladega USDA lenders (with over 10 loans originated) are
MOVEMENT MORTGAGE, LLC ($5,987), .
The lowest rate Talladega USDA lenders (with over 10 loans originated) are
MOVEMENT MORTGAGE, LLC (6.91%), .