Tuscaloosa USDA Loan Rates, Closing Costs & Stats

TUSCALOOSA, AL

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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.

    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.