Tuscaloosa USDA Loan Rates, Closing Costs & Stats

TUSCALOOSA, 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.

Tuscaloosa's 28 lenders originated 71 USDA loans during 2022. The total origination value was $13,505,000, with an average USDA loan value of $190,211.

Tuscaloosa USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Tuscaloosa averaged 6.64% for the week of 2023-09-22, compared to the national average (all USDA variants) of 7.021% for the same period.

Tuscaloosa's average USDA mortgage closing costs are $4,079.

The average rate for the prior week (2023-09-15) was 6.6% and one month ago for the week of 2023-08-18, the average rate was 6.3%.

The average rate one year ago was 5.23%.

For refis of the same type during the week of 2023-09-22, the average rate was 5.77%.

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

Tuscaloosa 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 Tuscaloosa level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
First Federal Bank, A FSB 14 4.21% $5,724
INTERLINC MORTGAGE SERVICES, LLC 11 5.06% $4,349
DHI MORTGAGE COMPANY, LTD. 4 3.56% $6,667
BancorpSouth 4 4.63% $6,551
Renasant Bank 4 4.44% $7,610
Regions Bank 3 4.17% $5,682
FirstBank 3 4.54% $5,948
MOVEMENT MORTGAGE, LLC 3 3.96% $6,232
UNITED WHOLESALE MORTGAGE, LLC 2 4.63% $7,581
LEADERONE FINANCIAL CORPORATION 2 5.13% $3,840
SOUTHWEST FUNDING, LP 2 4.88% $6,629
Trustmark National Bank 2 4.25% $6,001
Hometown Lenders, Inc. 2 3.50% $5,070
Prosperity Home Mortgage, LLC 1 4.12% $6,743
RELIANCE FIRST CAPITAL, LLC 1 6.13% $5,899
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.25% $8,196
Assurance Financial Group, L.L.C. 1 4.25% $4,846
CALIBER HOME LOANS, INC. 1 5.75% $8,604
CERTAINTY HOME LOANS, LLC 1 4.00% $6,504
CROSSCOUNTRY MORTGAGE, LLC 1 5.63% $7,235
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.49% $2,384
Flagstar Bank, FSB 1 3.25% $3,802
GMFS LLC 1 5.25% $5,682
GoPrime Mortgage, Inc. 1 5.25% $4,389
GUILD MORTGAGE COMPANY 1 5.63% $5,393
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.25% $6,569
HUNT MORTGAGE CORPORATION 1 4.88% $5,022
MICHIGAN MUTUAL, INC. 1 3.50% $4,623

The top Tuscaloosa USDA lender as defined by loan originations is First Federal Bank, A FSB, with 14 USDA loans originated. Their average total fees are $5,724, which is $1,375 higher than the next largest lender, INTERLINC MORTGAGE SERVICES, LLC.

The lowest fee Tuscaloosa USDA lenders (with over 10 loans originated) are INTERLINC MORTGAGE SERVICES, LLC ($4,349), First Federal Bank, A FSB ($5,724), .

The lowest rate Tuscaloosa USDA lenders (with over 10 loans originated) are First Federal Bank, A FSB (4.21%), INTERLINC MORTGAGE SERVICES, LLC (5.06%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Tuscaloosa (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $189,900 (8.5%) $276,399 (12.3%) 0.70 840
2018-02-01 $190,445 (9.7%) $279,004 (13.3%) 0.69 867
2018-03-01 $197,750 (13.1%) $281,184 (10.5%) 0.69 874
2018-04-01 $199,900 (8.1%) $286,192 (9.0%) 0.68 877
2018-05-01 $199,900 (5.4%) $284,496 (7.9%) 0.67 856
2018-06-01 $204,925 (7.9%) $291,475 (8.2%) 0.68 861
2018-07-01 $214,900 (13.2%) $298,124 (10.7%) 0.72 900
2018-08-01 $211,950 (9.7%) $299,819 (7.7%) 0.71 891
2018-09-01 $214,850 (13.1%) $313,706 (11.7%) 0.72 901
2018-10-01 $209,900 (10.8%) $310,932 (12.9%) 0.71 922
2018-11-01 $209,900 (11.8%) $306,985 (10.6%) 0.71 908
2018-12-01 $207,900 (12.4%) $308,852 (13.1%) 0.72 885
2019-01-01 $209,900 (10.5%) $312,591 (13.1%) 0.73 866
2019-02-01 $211,686 (11.2%) $319,251 (14.4%) 0.72 872
2019-03-01 $218,329 (10.4%) $327,072 (16.3%) 0.71 846
2019-04-01 $226,400 (13.3%) $329,891 (15.3%) 0.72 830
2019-05-01 $239,450 (19.8%) $338,174 (18.9%) 0.75 846
2019-06-01 $235,000 (14.7%) $337,201 (15.7%) 0.73 866
2019-07-01 $238,825 (11.1%) $350,200 (17.5%) 0.75 885
2019-08-01 $238,536 (12.5%) $360,433 (20.2%) 0.76 883
2019-09-01 $236,491 (10.1%) $355,378 (13.3%) 0.76 905
2019-10-01 $234,600 (11.8%) $351,992 (13.2%) 0.76 918
2019-11-01 $229,900 (9.5%) $343,437 (11.9%) 0.75 893
2019-12-01 $224,099 (7.8%) $340,779 (10.3%) 0.75 887
2020-01-01 $224,100 (6.8%) $344,784 (10.3%) 0.75 822
2020-02-01 $236,148 (11.6%) $344,244 (7.8%) 0.77 789
2020-03-01 $239,949 (9.9%) $349,416 (6.8%) 0.75 762
2020-04-01 $245,800 (8.6%) $356,190 (8.0%) 0.77 759
2020-05-01 $240,398 (0.4%) $343,242 (1.5%) 0.73 724
2020-06-01 $245,100 (4.3%) $350,526 (4.0%) 0.72 682
2020-07-01 $249,900 (4.6%) $351,893 (0.5%) 0.72 683
2020-08-01 $249,900 (4.8%) $345,634 (-4.1%) 0.72 682
2020-09-01 $249,975 (5.7%) $350,550 (-1.4%) 0.72 660
2020-10-01 $249,900 (6.5%) $345,873 (-1.7%) 0.72 689
2020-11-01 $249,900 (8.7%) $351,902 (2.5%) 0.73 652
2020-12-01 $249,950 (11.5%) $355,035 (4.2%) 0.74 595
2021-01-01 $248,250 (10.8%) $352,857 (2.3%) 0.74 547
2021-02-01 $252,425 (6.9%) $353,428 (2.7%) 0.74 549
2021-03-01 $268,225 (11.8%) $351,178 (0.5%) 0.76 535
2021-04-01 $276,500 (12.5%) $376,846 (5.8%) 0.75 465
2021-05-01 $274,950 (14.4%) $384,254 (12.0%) 0.73 417
2021-06-01 $277,400 (13.2%) $387,927 (10.7%) 0.73 435
2021-07-01 $269,900 (8.0%) $378,035 (7.4%) 0.71 475
2021-08-01 $265,748 (6.3%) $380,340 (10.0%) 0.71 460
2021-09-01 $264,950 (6.0%) $383,384 (9.4%) 0.71 463
2021-10-01 $249,900 (0.0%) $378,808 (9.5%) 0.67 449
2021-11-01 $258,524 (3.5%) $378,062 (7.4%) 0.69 432
2021-12-01 $263,950 (5.6%) $369,505 (4.1%) 0.72 424
2022-01-01 $249,900 (0.7%) $361,679 (2.5%) 0.68 344
2022-02-01 $257,750 (2.1%) $373,805 (5.8%) 0.67 357
2022-03-01 $278,238 (3.7%) $370,899 (5.6%) 0.70 351
2022-04-01 $299,900 (8.5%) $382,512 (1.5%) 0.71 341
2022-05-01 $299,900 (9.1%) $380,043 (-1.1%) 0.69 411
2022-06-01 $304,900 (9.9%) $377,333 (-2.7%) 0.68 500
2022-07-01 $310,000 (14.9%) $384,307 (1.7%) 0.70 597
2022-08-01 $311,098 (17.1%) $386,433 (1.6%) 0.72 577
2022-09-01 $306,900 (15.8%) $383,233 (0.0%) 0.72 573
2022-10-01 $304,900 (22.0%) $387,218 (2.2%) 0.72 522
2022-11-01 $292,974 (13.3%) $378,257 (0.1%) 0.70 535
2022-12-01 $289,900 (9.8%) $379,082 (2.6%) 0.72 514
2023-01-01 $288,148 (15.3%) $382,252 (5.7%) 0.71 524
2023-02-01 $289,375 (12.3%) $391,758 (4.8%) 0.70 536
2023-03-01 $294,450 (5.8%) $395,603 (6.7%) 0.69 512
2023-04-01 $299,000 (-0.3%) $420,976 (10.1%) 0.70 495
2023-05-01 $297,000 (-1.0%) $437,434 (15.1%) 0.67 475
2023-06-01 $297,450 (-2.4%) $446,916 (18.4%) 0.67 486
2023-07-01 $294,900 (-4.9%) $435,704 (13.4%) 0.67 465
2023-08-01 $288,750 (-7.2%) $427,389 (10.6%) 0.66 485
Tuscaloosa's median listing price for 2023-08-01 was $288,750, a difference of $-22,348 (-7.2%) versus the prior year and $-6,150 versus the prior month.

Tuscaloosa's median listing price comes in at 66% of the national average.

Tuscaloosa's average listing price for 2023-08-01 was $427,389, a difference of $40,956 (10.6%) versus the prior year and $-8,315 versus the prior month.

For the 2023-08-01 period, Tuscaloosa had 485 MLS listings, a difference of 20 listings (4%) versus the prior month and -92 listings (-16%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Tuscaloosa (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 93 days 1,769 sqft
2018-02-01 88 days 1,771 sqft
2018-03-01 61 days 1,754 sqft
2018-04-01 60 days 1,768 sqft
2018-05-01 63 days 1,764 sqft
2018-06-01 67 days 1,762 sqft
2018-07-01 68 days 1,811 sqft
2018-08-01 68 days 1,790 sqft
2018-09-01 68 days 1,774 sqft
2018-10-01 72 days 1,754 sqft
2018-11-01 73 days 1,742 sqft
2018-12-01 90 days 1,728 sqft
2019-01-01 95 days 1,724 sqft
2019-02-01 85 days 1,719 sqft
2019-03-01 74 days 1,742 sqft
2019-04-01 64 days 1,776 sqft
2019-05-01 64 days 1,822 sqft
2019-06-01 61 days 1,800 sqft
2019-07-01 65 days 1,852 sqft
2019-08-01 66 days 1,841 sqft
2019-09-01 63 days 1,819 sqft
2019-10-01 64 days 1,804 sqft
2019-11-01 78 days 1,804 sqft
2019-12-01 94 days 1,801 sqft
2020-01-01 97 days 1,779 sqft
2020-02-01 86 days 1,774 sqft
2020-03-01 70 days 1,786 sqft
2020-04-01 73 days 1,801 sqft
2020-05-01 75 days 1,774 sqft
2020-06-01 74 days 1,799 sqft
2020-07-01 63 days 1,798 sqft
2020-08-01 59 days 1,763 sqft
2020-09-01 75 days 1,798 sqft
2020-10-01 81 days 1,750 sqft
2020-11-01 81 days 1,747 sqft
2020-12-01 82 days 1,720 sqft
2021-01-01 71 days 1,632 sqft
2021-02-01 47 days 1,596 sqft
2021-03-01 47 days 1,611 sqft
2021-04-01 58 days 1,599 sqft
2021-05-01 58 days 1,642 sqft
2021-06-01 49 days 1,643 sqft
2021-07-01 47 days 1,744 sqft
2021-08-01 45 days 1,793 sqft
2021-09-01 49 days 1,799 sqft
2021-10-01 57 days 1,800 sqft
2021-11-01 60 days 1,822 sqft
2021-12-01 58 days 1,778 sqft
2022-01-01 65 days 1,708 sqft
2022-02-01 54 days 1,727 sqft
2022-03-01 40 days 1,775 sqft
2022-04-01 41 days 1,882 sqft
2022-05-01 37 days 1,925 sqft
2022-06-01 36 days 1,993 sqft
2022-07-01 39 days 2,040 sqft
2022-08-01 52 days 2,056 sqft
2022-09-01 61 days 2,052 sqft
2022-10-01 71 days 2,053 sqft
2022-11-01 67 days 1,988 sqft
2022-12-01 68 days 1,960 sqft
2023-01-01 70 days 1,870 sqft
2023-02-01 60 days 1,830 sqft
2023-03-01 56 days 1,886 sqft
2023-04-01 54 days 1,914 sqft
2023-05-01 50 days 1,890 sqft
2023-06-01 47 days 1,869 sqft
2023-07-01 49 days 1,870 sqft
2023-08-01 51 days 1,861 sqft
Tuscaloosa's median listing age (time on market) for 2023-08-01 was 51 days. This is -2% shorter than the same period one year ago.

Tuscaloosa's median square footage for active listings during the 2023-08-01 period was 1,861 sqft. One year prior, the average listing was 2,056 sqft.