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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.