Vicksburg USDA Loan Rates, Closing Costs & Stats

Vicksburg, MS

  • 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.

    Vicksburg's 10 lenders originated 33 USDA loans during 2023. The total origination value was $5,855,000, with an average USDA loan value of $177,424.

    Vicksburg USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Vicksburg averaged 6.58% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Vicksburg's average USDA mortgage closing costs are $5,114.

    The average rate for the prior week (2024-04-12) was 6.83% and one month ago for the week of 2024-03-15, the average rate was 6.31%.

    The average rate one year ago was 6.45%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Vicksburg 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 Vicksburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Trustmark National Bank 15 5.98% $6,725
    BancorpSouth 4 6.64% $5,846
    OPEN MORTGAGE, LLC 4 6.75% $6,021
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.20% $6,488
    Mortgage Research Center, LLC 1 7.88% $2,983
    SWBC MORTGAGE CORPORATION 1 6.75% $3,827
    Magnolia Bank 1 7.13% $7,192
    Community Bank of Mississippi 1 6.25% $5,519
    FIDELITY BANK 1 7.13% $6,525
    AMERICAN FINANCIAL NETWORK, INC. 1 7.50% $11,801

    The top Vicksburg USDA lender as defined by loan originations is Trustmark National Bank, with 15 USDA loans originated. Their average total fees are $6,725, which is $879 higher than the next largest lender, BancorpSouth.

    The lowest fee Vicksburg USDA lenders (with over 10 loans originated) are Trustmark National Bank ($6,725), .

    The lowest rate Vicksburg USDA lenders (with over 10 loans originated) are Trustmark National Bank (5.98%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Vicksburg (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 $132,475 (-2.4%) $167,763 (2.6%) 0.00 221
    2018-02-01 $129,900 (-1.9%) $167,138 (3.5%) 0.00 220
    2018-03-01 $131,500 (-9.3%) $169,082 (-1.7%) 0.00 209
    2018-04-01 $134,000 (-7.3%) $174,355 (1.5%) 0.00 204
    2018-05-01 $129,900 (-7.2%) $170,651 (-2.0%) 0.00 214
    2018-06-01 $129,900 (-8.0%) $175,078 (0.1%) 0.00 214
    2018-07-01 $141,175 (-5.2%) $182,431 (1.5%) 0.00 216
    2018-08-01 $137,250 (-8.0%) $178,927 (0.3%) 0.00 211
    2018-09-01 $143,500 (-4.3%) $180,256 (-1.2%) 0.00 198
    2018-10-01 $147,000 (-1.6%) $182,183 (0.6%) 0.00 197
    2018-11-01 $144,950 (-2.7%) $186,009 (2.1%) 0.00 192
    2018-12-01 $151,250 (4.7%) $189,423 (5.7%) 0.00 180
    2019-01-01 $146,500 (10.6%) $189,066 (12.7%) 0.00 165
    2019-02-01 $154,200 (18.7%) $188,799 (13.0%) 0.00 155
    2019-03-01 $147,143 (11.9%) $185,521 (9.7%) 0.00 156
    2019-04-01 $149,643 (11.7%) $186,885 (7.2%) 0.00 155
    2019-05-01 $134,975 (3.9%) $179,506 (5.2%) 0.00 147
    2019-06-01 $131,500 (1.2%) $176,427 (0.8%) 0.00 147
    2019-07-01 $130,000 (-7.9%) $168,267 (-7.8%) 0.00 135
    2019-08-01 $130,272 (-5.1%) $166,858 (-6.7%) 0.00 133
    2019-09-01 $130,681 (-8.9%) $171,671 (-4.8%) 0.00 126
    2019-10-01 $133,500 (-9.2%) $177,331 (-2.7%) 0.00 125
    2019-11-01 $140,000 (-3.4%) $193,768 (4.2%) 0.00 123
    2019-12-01 $149,000 (-1.5%) $197,185 (4.1%) 0.00 125
    2020-01-01 $140,750 (-3.9%) $188,808 (-0.1%) 0.00 112
    2020-02-01 $150,000 (-2.7%) $189,455 (0.4%) 0.00 116
    2020-03-01 $159,950 (8.7%) $197,921 (6.7%) 0.00 119
    2020-04-01 $162,500 (8.6%) $191,250 (2.3%) 0.00 115
    2020-05-01 $154,500 (14.5%) $193,765 (7.9%) 0.00 109
    2020-06-01 $150,000 (14.1%) $198,237 (12.4%) 0.00 98
    2020-07-01 $159,450 (22.7%) $202,861 (20.6%) 0.00 93
    2020-08-01 $165,000 (26.7%) $207,730 (24.5%) 0.00 94
    2020-09-01 $173,450 (32.7%) $227,647 (32.6%) 0.00 95
    2020-10-01 $191,000 (43.1%) $245,539 (38.5%) 0.00 86
    2020-11-01 $185,000 (32.1%) $237,069 (22.4%) 0.00 90
    2020-12-01 $163,475 (9.7%) $235,006 (19.2%) 0.00 84
    2021-01-01 $159,250 (13.1%) $213,167 (12.9%) 0.00 72
    2021-02-01 $154,950 (3.3%) $202,758 (7.0%) 0.00 68
    2021-03-01 $149,638 (-6.5%) $198,735 (0.4%) 0.00 73
    2021-04-01 $143,475 (-11.7%) $194,117 (1.5%) 0.00 68
    2021-05-01 $167,500 (8.4%) $210,536 (8.7%) 0.00 67
    2021-06-01 $169,950 (13.3%) $252,418 (27.3%) 0.00 67
    2021-07-01 $150,000 (-5.9%) $245,402 (21.0%) 0.00 61
    2021-08-01 $152,500 (-7.6%) $247,136 (19.0%) 0.00 70
    2021-09-01 $159,000 (-8.3%) $254,997 (12.0%) 0.00 62
    2021-10-01 $139,450 (-27.0%) $213,983 (-12.9%) 0.00 64
    2021-11-01 $145,900 (-21.1%) $228,776 (-3.5%) 0.00 66
    2021-12-01 $139,975 (-14.4%) $227,954 (-3.0%) 0.00 65
    2022-01-01 $150,000 (-5.8%) $219,374 (2.9%) 0.00 62
    2022-02-01 $171,250 (10.5%) $233,396 (15.1%) 0.00 63
    2022-03-01 $167,500 (11.9%) $229,715 (15.6%) 0.00 62
    2022-04-01 $176,300 (22.9%) $228,085 (17.5%) 0.00 69
    2022-05-01 $220,000 (31.3%) $265,771 (26.2%) 0.00 73
    2022-06-01 $206,250 (21.4%) $248,896 (-1.4%) 0.00 85
    2022-07-01 $220,000 (46.7%) $252,854 (3.0%) 0.00 84
    2022-08-01 $200,000 (31.2%) $257,469 (4.2%) 0.00 84
    2022-09-01 $215,500 (35.5%) $255,293 (0.1%) 0.00 82
    2022-10-01 $195,000 (39.8%) $226,395 (5.8%) 0.00 80
    2022-11-01 $189,000 (29.5%) $218,882 (-4.3%) 0.00 87
    2022-12-01 $185,250 (32.4%) $212,418 (-6.8%) 0.00 85
    2023-01-01 $180,750 (20.5%) $195,919 (-10.7%) 0.00 88
    2023-02-01 $160,000 (-6.6%) $188,353 (-19.3%) 0.00 86
    2023-03-01 $154,500 (-7.8%) $182,482 (-20.6%) 0.00 84
    2023-04-01 $167,700 (-4.9%) $199,200 (-12.7%) 0.00 90
    2023-05-01 $159,900 (-27.3%) $197,835 (-25.6%) 0.00 86
    2023-06-01 $157,000 (-23.9%) $192,133 (-22.8%) 0.00 88
    2023-07-01 $168,750 (-23.3%) $196,594 (-22.3%) 0.00 88
    2023-08-01 $182,725 (-8.6%) $207,726 (-19.3%) 0.00 95
    2023-09-01 $165,000 (-23.4%) $194,258 (-23.9%) 0.00 98
    2023-10-01 $165,450 (-15.2%) $196,602 (-13.2%) 0.00 97
    2023-11-01 $165,975 (-12.2%) $201,325 (-8.0%) 0.00 98
    2023-12-01 $174,950 (-5.6%) $212,708 (0.1%) 0.00 95
    2024-01-01 $183,750 (1.7%) $210,945 (7.7%) 0.00 80
    2024-02-01 $183,750 (14.8%) $216,236 (14.8%) 0.00 90
    2024-03-01 $192,500 (24.6%) $221,138 (21.2%) 0.00 76
    Vicksburg's median listing price for 2024-03-01 was $192,500, a difference of $38,000 (24.6%) versus the prior year and $8,750 versus the prior month.

    Vicksburg's median listing price comes in at 0% of the national average.

    Vicksburg's average listing price for 2024-03-01 was $221,138, a difference of $38,656 (21.2%) versus the prior year and $4,902 versus the prior month.

    For the 2024-03-01 period, Vicksburg had 76 MLS listings, a difference of -14 listings (-16%) versus the prior month and -8 listings (-10%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Vicksburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,837 sqft
    2018-02-01 0 days 1,839 sqft
    2018-03-01 0 days 1,866 sqft
    2018-04-01 0 days 1,908 sqft
    2018-05-01 0 days 1,893 sqft
    2018-06-01 0 days 1,891 sqft
    2018-07-01 0 days 1,910 sqft
    2018-08-01 0 days 1,907 sqft
    2018-09-01 0 days 1,907 sqft
    2018-10-01 0 days 1,915 sqft
    2018-11-01 0 days 1,955 sqft
    2018-12-01 0 days 1,958 sqft
    2019-01-01 0 days 1,944 sqft
    2019-02-01 0 days 1,929 sqft
    2019-03-01 0 days 1,880 sqft
    2019-04-01 0 days 1,882 sqft
    2019-05-01 0 days 1,824 sqft
    2019-06-01 0 days 1,805 sqft
    2019-07-01 0 days 1,770 sqft
    2019-08-01 0 days 1,755 sqft
    2019-09-01 0 days 1,759 sqft
    2019-10-01 0 days 1,762 sqft
    2019-11-01 0 days 1,812 sqft
    2019-12-01 0 days 1,806 sqft
    2020-01-01 0 days 1,800 sqft
    2020-02-01 0 days 1,780 sqft
    2020-03-01 0 days 1,849 sqft
    2020-04-01 0 days 1,868 sqft
    2020-05-01 0 days 1,851 sqft
    2020-06-01 0 days 1,820 sqft
    2020-07-01 0 days 1,838 sqft
    2020-08-01 0 days 1,851 sqft
    2020-09-01 0 days 1,926 sqft
    2020-10-01 0 days 2,100 sqft
    2020-11-01 0 days 2,034 sqft
    2020-12-01 0 days 1,861 sqft
    2021-01-01 0 days 1,850 sqft
    2021-02-01 0 days 1,825 sqft
    2021-03-01 0 days 1,767 sqft
    2021-04-01 0 days 1,672 sqft
    2021-05-01 0 days 1,839 sqft
    2021-06-01 0 days 1,735 sqft
    2021-07-01 0 days 1,661 sqft
    2021-08-01 0 days 1,727 sqft
    2021-09-01 0 days 1,702 sqft
    2021-10-01 0 days 1,703 sqft
    2021-11-01 0 days 1,703 sqft
    2021-12-01 0 days 1,644 sqft
    2022-01-01 0 days 1,675 sqft
    2022-02-01 0 days 1,759 sqft
    2022-03-01 0 days 1,745 sqft
    2022-04-01 0 days 1,912 sqft
    2022-05-01 0 days 2,054 sqft
    2022-06-01 0 days 1,862 sqft
    2022-07-01 0 days 1,864 sqft
    2022-08-01 0 days 1,856 sqft
    2022-09-01 0 days 1,860 sqft
    2022-10-01 0 days 1,822 sqft
    2022-11-01 0 days 1,803 sqft
    2022-12-01 0 days 1,832 sqft
    2023-01-01 0 days 1,827 sqft
    2023-02-01 0 days 1,843 sqft
    2023-03-01 0 days 1,847 sqft
    2023-04-01 0 days 1,929 sqft
    2023-05-01 0 days 1,821 sqft
    2023-06-01 0 days 1,816 sqft
    2023-07-01 0 days 1,829 sqft
    2023-08-01 0 days 1,866 sqft
    2023-09-01 0 days 1,853 sqft
    2023-10-01 0 days 1,902 sqft
    2023-11-01 0 days 1,892 sqft
    2023-12-01 0 days 1,916 sqft
    2024-01-01 0 days 1,925 sqft
    2024-02-01 0 days 1,924 sqft
    2024-03-01 0 days 1,924 sqft
    Vicksburg's median listing age (time on market) for 2024-03-01 was 0 days.

    Vicksburg's median square footage for active listings during the 2024-03-01 period was 1,924 sqft. One year prior, the average listing was 1,847 sqft.