Tuscaloosa USDA Loan Rates, Closing Costs & Stats

TUSCALOOSA, AL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 23 lenders originated 76 USDA loans during 2023. The total origination value was $16,080,000, with an average USDA loan value of $211,579.

    Tuscaloosa USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Tuscaloosa averaged 6.41% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Tuscaloosa's average USDA mortgage closing costs are $4,359.

    The average rate for the prior week (2024-04-12) was 6.26% and one month ago for the week of 2024-03-15, the average rate was 6.55%.

    The average rate one year ago was 5.89%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.74%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    RELIANCE FIRST CAPITAL, LLC 18 6.24% $3,843
    Renasant Bank 11 5.93% $8,129
    MOVEMENT MORTGAGE, LLC 11 6.39% $7,402
    First Federal Bank, A FSB 8 6.20% $7,586
    FirstBank 3 6.33% $8,253
    CORNERSTONE HOME LENDING, INC. 3 6.00% $3,408
    UNITED WHOLESALE MORTGAGE, LLC 2 5.90% $5,619
    HOMESIDE FINANCIAL, LLC 2 6.56% $6,445
    Regions Bank 2 6.31% $6,118
    GMFS LLC 2 6.44% $8,184
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.25% $5,995
    STOCKTON MORTGAGE CORPORATION 1 7.13% $5,344
    GUILD MORTGAGE COMPANY 1 6.63% $8,336
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $4,061
    BancorpSouth 1 5.88% $8,702
    BROKER SOLUTIONS, INC. 1 6.50% $4,918
    Consumer First Mortgage, Inc. 1 6.13% $7,170
    CROSSCOUNTRY MORTGAGE, LLC 1 5.99% $13,148
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $8,804
    Hamilton Mortgage Corporation 1 6.50% $3,808
    NEWREZ LLC 1 7.25% $5,018
    PLAZA HOME MORTGAGE, INC. 1 5.88% $8,493
    SouthPoint Bank 1 6.63% $2,711

    The top Tuscaloosa USDA lender as defined by loan originations is RELIANCE FIRST CAPITAL, LLC, with 18 USDA loans originated. Their average total fees are $3,843, which is $4,286 lower than the next largest lender, Renasant Bank.

    The lowest fee Tuscaloosa USDA lenders (with over 10 loans originated) are RELIANCE FIRST CAPITAL, LLC ($3,843), MOVEMENT MORTGAGE, LLC ($7,402), Renasant Bank ($8,129), .

    The lowest rate Tuscaloosa USDA lenders (with over 10 loans originated) are Renasant Bank (5.93%), RELIANCE FIRST CAPITAL, LLC (6.24%), MOVEMENT MORTGAGE, LLC (6.39%), .

    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%) $276,405 (12.2%) 0.70 842
    2018-02-01 $191,515 (10.1%) $279,008 (13.1%) 0.70 869
    2018-03-01 $198,500 (13.5%) $281,227 (10.4%) 0.70 875
    2018-04-01 $199,900 (7.9%) $286,192 (9.0%) 0.68 877
    2018-05-01 $199,900 (5.4%) $284,496 (7.8%) 0.67 856
    2018-06-01 $204,925 (7.9%) $291,475 (8.2%) 0.68 861
    2018-07-01 $214,900 (13.2%) $298,113 (10.6%) 0.72 901
    2018-08-01 $211,950 (9.1%) $299,680 (7.6%) 0.71 891
    2018-09-01 $214,900 (13.2%) $313,706 (11.6%) 0.72 901
    2018-10-01 $209,900 (10.5%) $310,776 (12.8%) 0.71 924
    2018-11-01 $209,900 (11.3%) $305,671 (10.1%) 0.71 915
    2018-12-01 $205,800 (10.8%) $307,521 (12.6%) 0.71 894
    2019-01-01 $208,029 (9.6%) $311,251 (12.6%) 0.72 874
    2019-02-01 $210,410 (9.9%) $317,988 (14.0%) 0.71 879
    2019-03-01 $217,043 (9.3%) $325,682 (15.8%) 0.71 853
    2019-04-01 $222,425 (11.3%) $327,746 (14.5%) 0.71 836
    2019-05-01 $238,250 (19.2%) $336,665 (18.3%) 0.74 852
    2019-06-01 $232,395 (13.4%) $335,666 (15.2%) 0.73 874
    2019-07-01 $238,225 (10.9%) $348,875 (17.0%) 0.75 891
    2019-08-01 $238,536 (12.5%) $359,414 (19.9%) 0.76 888
    2019-09-01 $236,491 (10.1%) $354,816 (13.1%) 0.76 907
    2019-10-01 $234,250 (11.6%) $351,751 (13.2%) 0.76 920
    2019-11-01 $229,900 (9.5%) $343,437 (12.4%) 0.75 893
    2019-12-01 $224,099 (8.9%) $340,779 (10.8%) 0.75 887
    2020-01-01 $223,825 (7.6%) $344,552 (10.7%) 0.75 823
    2020-02-01 $235,900 (12.1%) $344,007 (8.2%) 0.77 790
    2020-03-01 $238,710 (10.0%) $347,992 (6.9%) 0.75 768
    2020-04-01 $245,075 (10.2%) $355,350 (8.4%) 0.77 763
    2020-05-01 $240,000 (0.7%) $342,506 (1.7%) 0.73 727
    2020-06-01 $245,150 (5.5%) $349,706 (4.2%) 0.72 685
    2020-07-01 $249,900 (4.9%) $351,741 (0.8%) 0.72 684
    2020-08-01 $249,900 (4.8%) $345,615 (-3.8%) 0.72 684
    2020-09-01 $249,950 (5.7%) $349,878 (-1.4%) 0.72 665
    2020-10-01 $249,900 (6.7%) $345,034 (-1.9%) 0.72 694
    2020-11-01 $249,900 (8.7%) $350,561 (2.1%) 0.73 663
    2020-12-01 $249,950 (11.5%) $353,860 (3.8%) 0.74 602
    2021-01-01 $249,000 (11.3%) $351,506 (2.0%) 0.74 552
    2021-02-01 $252,950 (7.2%) $352,698 (2.5%) 0.74 554
    2021-03-01 $269,200 (12.8%) $351,306 (1.0%) 0.76 540
    2021-04-01 $276,500 (12.8%) $376,350 (5.9%) 0.75 470
    2021-05-01 $275,000 (14.6%) $384,241 (12.2%) 0.73 422
    2021-06-01 $277,425 (13.2%) $387,941 (10.9%) 0.73 439
    2021-07-01 $270,448 (8.2%) $378,135 (7.5%) 0.71 479
    2021-08-01 $267,271 (7.0%) $380,523 (10.1%) 0.71 465
    2021-09-01 $265,796 (6.3%) $383,530 (9.6%) 0.71 468
    2021-10-01 $259,900 (4.0%) $379,199 (9.9%) 0.69 461
    2021-11-01 $261,324 (4.6%) $378,516 (8.0%) 0.70 440
    2021-12-01 $266,549 (6.6%) $370,245 (4.6%) 0.72 429
    2022-01-01 $249,900 (0.4%) $362,835 (3.2%) 0.68 350
    2022-02-01 $257,298 (1.7%) $373,790 (6.0%) 0.67 355
    2022-03-01 $276,000 (2.5%) $370,936 (5.6%) 0.69 349
    2022-04-01 $299,900 (8.5%) $382,387 (1.6%) 0.71 341
    2022-05-01 $299,925 (9.1%) $379,823 (-1.2%) 0.69 415
    2022-06-01 $308,895 (11.3%) $377,326 (-2.7%) 0.69 502
    2022-07-01 $310,000 (14.6%) $383,849 (1.5%) 0.70 596
    2022-08-01 $309,673 (15.9%) $385,939 (1.4%) 0.72 575
    2022-09-01 $304,975 (14.7%) $382,834 (-0.2%) 0.71 570
    2022-10-01 $303,816 (16.9%) $386,737 (2.0%) 0.71 520
    2022-11-01 $292,574 (12.0%) $377,983 (-0.1%) 0.70 531
    2022-12-01 $289,900 (8.8%) $378,944 (2.4%) 0.72 509
    2023-01-01 $291,561 (16.7%) $385,076 (6.1%) 0.72 509
    2023-02-01 $293,671 (14.1%) $394,562 (5.6%) 0.71 522
    2023-03-01 $295,950 (7.2%) $396,249 (6.8%) 0.70 507
    2023-04-01 $299,250 (-0.2%) $421,612 (10.3%) 0.70 496
    2023-05-01 $297,000 (-1.0%) $436,892 (15.0%) 0.67 476
    2023-06-01 $297,399 (-3.7%) $446,645 (18.4%) 0.67 485
    2023-07-01 $294,900 (-4.9%) $435,404 (13.4%) 0.67 464
    2023-08-01 $288,750 (-6.8%) $427,389 (10.7%) 0.66 485
    2023-09-01 $280,000 (-8.2%) $413,149 (7.9%) 0.65 521
    2023-10-01 $295,000 (-2.9%) $414,372 (7.2%) 0.69 604
    2023-11-01 $289,900 (-0.9%) $410,990 (8.7%) 0.69 639
    2023-12-01 $289,900 (0.0%) $413,964 (9.2%) 0.71 610
    2024-01-01 $298,575 (2.4%) $429,711 (11.6%) 0.73 554
    2024-02-01 $299,900 (2.1%) $456,606 (15.7%) 0.72 569
    2024-03-01 $299,900 (1.3%) $460,388 (16.2%) 0.71 602
    Tuscaloosa's median listing price for 2024-03-01 was $299,900, a difference of $3,950 (1.3%) versus the prior year and $0 versus the prior month.

    Tuscaloosa's median listing price comes in at 71% of the national average.

    Tuscaloosa's average listing price for 2024-03-01 was $460,388, a difference of $64,139 (16.2%) versus the prior year and $3,782 versus the prior month.

    For the 2024-03-01 period, Tuscaloosa had 602 MLS listings, a difference of 33 listings (6%) versus the prior month and 95 listings (19%) 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 1,773 sqft
    2018-02-01 88 days 1,776 sqft
    2018-03-01 61 days 1,761 sqft
    2018-04-01 60 days 1,770 sqft
    2018-05-01 63 days 1,767 sqft
    2018-06-01 67 days 1,763 sqft
    2018-07-01 68 days 1,810 sqft
    2018-08-01 67 days 1,791 sqft
    2018-09-01 68 days 1,774 sqft
    2018-10-01 72 days 1,754 sqft
    2018-11-01 73 days 1,736 sqft
    2018-12-01 89 days 1,718 sqft
    2019-01-01 94 days 1,717 sqft
    2019-02-01 86 days 1,710 sqft
    2019-03-01 76 days 1,732 sqft
    2019-04-01 64 days 1,766 sqft
    2019-05-01 64 days 1,813 sqft
    2019-06-01 61 days 1,797 sqft
    2019-07-01 65 days 1,847 sqft
    2019-08-01 66 days 1,837 sqft
    2019-09-01 64 days 1,817 sqft
    2019-10-01 64 days 1,803 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 69 days 1,779 sqft
    2020-04-01 74 days 1,800 sqft
    2020-05-01 77 days 1,774 sqft
    2020-06-01 74 days 1,798 sqft
    2020-07-01 63 days 1,799 sqft
    2020-08-01 59 days 1,765 sqft
    2020-09-01 74 days 1,800 sqft
    2020-10-01 81 days 1,750 sqft
    2020-11-01 79 days 1,755 sqft
    2020-12-01 82 days 1,727 sqft
    2021-01-01 71 days 1,642 sqft
    2021-02-01 48 days 1,602 sqft
    2021-03-01 47 days 1,611 sqft
    2021-04-01 57 days 1,604 sqft
    2021-05-01 58 days 1,647 sqft
    2021-06-01 49 days 1,650 sqft
    2021-07-01 48 days 1,746 sqft
    2021-08-01 45 days 1,797 sqft
    2021-09-01 49 days 1,810 sqft
    2021-10-01 57 days 1,850 sqft
    2021-11-01 61 days 1,850 sqft
    2021-12-01 59 days 1,828 sqft
    2022-01-01 65 days 1,712 sqft
    2022-02-01 53 days 1,711 sqft
    2022-03-01 40 days 1,783 sqft
    2022-04-01 39 days 1,904 sqft
    2022-05-01 37 days 1,939 sqft
    2022-06-01 36 days 1,994 sqft
    2022-07-01 39 days 2,040 sqft
    2022-08-01 52 days 2,052 sqft
    2022-09-01 61 days 2,050 sqft
    2022-10-01 71 days 2,050 sqft
    2022-11-01 67 days 1,987 sqft
    2022-12-01 68 days 1,959 sqft
    2023-01-01 73 days 1,888 sqft
    2023-02-01 59 days 1,845 sqft
    2023-03-01 55 days 1,885 sqft
    2023-04-01 53 days 1,913 sqft
    2023-05-01 51 days 1,890 sqft
    2023-06-01 47 days 1,867 sqft
    2023-07-01 49 days 1,870 sqft
    2023-08-01 51 days 1,861 sqft
    2023-09-01 50 days 1,849 sqft
    2023-10-01 50 days 1,845 sqft
    2023-11-01 52 days 1,827 sqft
    2023-12-01 60 days 1,837 sqft
    2024-01-01 80 days 1,834 sqft
    2024-02-01 67 days 1,809 sqft
    2024-03-01 52 days 1,802 sqft
    Tuscaloosa's median listing age (time on market) for 2024-03-01 was 52 days. This is -6% shorter than the same period one year ago.

    Tuscaloosa's median square footage for active listings during the 2024-03-01 period was 1,802 sqft. One year prior, the average listing was 1,885 sqft.