Louisiana USDA Loan Rates, Closing Costs & Stats

Louisiana

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Louisiana USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Louisiana averaged 6.89% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Louisiana's average USDA mortgage closing costs are $5,136.

    The average rate for the prior week (2024-04-12) was 6.84% and one month ago for the week of 2024-03-15, the average rate was 6.52%.

    The average rate one year ago was 6.26%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.58%.

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

    Louisiana 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 Louisiana level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GMFS LLC 317 6.50% $4,489
    UNITED WHOLESALE MORTGAGE, LLC 192 6.24% $8,320
    Assurance Financial Group, L.L.C. 113 6.64% $7,538
    NEWREZ LLC 100 6.64% $6,820
    EUSTIS AND AMERICAN MORTGAGE COMPANY 97 6.70% $7,069
    DSLD MORTGAGE, LLC 80 6.08% $3,551
    DHI MORTGAGE COMPANY, LTD. 66 5.22% $5,890
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 59 6.64% $7,155
    MID AMERICA MORTGAGE, INC. 56 6.70% $6,753
    MOVEMENT MORTGAGE, LLC 50 6.48% $7,464
    CARDINAL FINANCIAL 50 6.63% $6,982
    UNION HOME MORTGAGE CORP. 47 6.51% $6,566
    FIDELITY BANK 45 6.62% $7,071
    CROSSCOUNTRY MORTGAGE, LLC 35 6.94% $7,707
    Sabine State Bank and Trust Company 33 6.63% $6,395
    Gulf Coast Bank and Trust Company 28 6.46% $7,000
    Equity Prime Mortgage LLC 27 6.94% $7,642
    Eagle Bank and Trust Company 26 6.63% $6,036
    Red River Bank 25 5.99% $5,441
    AMERICAN PACIFIC MORTGAGE CORPORATION 25 7.01% $6,846
    Origin Bank 24 6.40% $5,402
    AMERICAN FINANCIAL RESOURCES, INC. 22 6.52% $7,609
    PLANET HOME LENDING, LLC 20 6.49% $5,957
    First Horizon Bank 20 6.00% $6,667
    HOMESIDE FINANCIAL, LLC 20 6.70% $7,489
    PLAZA HOME MORTGAGE, INC. 19 6.31% $9,335
    MORTGAGE FINANCIAL SERVICES, LLC 17 6.40% $6,149
    PRIMARY RESIDENTIAL MORTGAGE, INC. 16 6.68% $7,328
    GUILD MORTGAGE COMPANY 15 6.75% $7,457
    STANDARD MORTGAGE CORPORATION 14 5.89% $6,627
    Regions Bank 13 5.93% $7,119
    Paramount Residential Mortgage Group, Inc. 13 6.63% $9,788
    Flagstar Bank, FSB 13 6.81% $6,913
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 12 6.85% $4,878
    DRAPER AND KRAMER MORTGAGE CORP. 12 6.79% $7,063
    Citizens Bank 11 6.48% $6,333
    GUARANTEED RATE, INC. 11 6.67% $7,282
    SOUTHPOINT FINANCIAL SERVICES, INC. 10 6.30% $2,730
    FIRST COMMUNITY MORTGAGE, INC. 10 6.94% $6,250
    NTFN, INC. 9 6.38% $6,940
    LEGEND LENDING CORPORATION 9 6.50% $11,796
    Nations Lending Corporation 9 7.04% $3,787
    Hancock Whitney Bank 8 6.16% $5,790
    MORTGAGE SOLUTIONS OF COLORADO, LLC 8 7.17% $7,528
    AMCAP MORTGAGE, LTD. 7 6.50% $10,255
    T2 FINANCIAL LLC 6 6.77% $8,072
    Summit Mortgage Corporation 6 6.79% $9,228
    BROKER SOLUTIONS, INC. 5 6.75% $10,385
    Gateway First Bank 5 6.28% $4,661
    First Option Mortgage, LLC 5 6.85% $7,502
    SUMMIT FUNDING, INC. 5 6.30% $13,470
    CMG MORTGAGE, INC. 5 6.68% $7,810
    Chickasaw Community Bank 5 7.13% $5,771
    SUN WEST MORTGAGE COMPANY, INC. 5 5.83% $7,156
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.85% $10,816
    BancorpSouth 4 6.38% $5,363
    Bank of England 4 6.19% $7,953
    AMERICAN FINANCIAL NETWORK, INC. 4 6.44% $7,385
    LOANDEPOT.COM, LLC 4 6.25% $8,795
    Goldwater Bank, N.A. 4 6.91% $7,765
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.09% $7,952
    Network Funding, L.P. 3 6.58% $6,747
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 6.38% $6,275
    BankPlus 3 6.33% $3,327
    Century Mortgage Company DBA Century Lending Company 3 6.96% $7,146
    Cornerstone First Mortgage, Inc 3 6.46% $10,948
    Home Federal Bank 3 6.42% $6,470
    HOMESTAR FINANCIAL CORPORATION 3 7.17% $2,571
    Hometown Equity Mortgage, LLC 3 6.92% $7,565
    ACADEMY MORTGAGE CORPORATION 3 6.79% $6,032
    PANORAMA MORTGAGE GROUP, LLC 3 5.38% $8,897
    Plains Commerce Bank 3 6.67% $6,246
    Renasant Bank 3 6.88% $4,895
    TOWNE MORTGAGE COMPANY 3 7.54% $7,868
    Wolfe Financial, Inc 3 7.04% $7,915
    THE MORTGAGE FIRM, INC. 2 6.44% $7,028
    Century Next Bank 2 6.00% $6,120
    OPEN MORTGAGE, LLC 2 6.44% $3,809
    PIERREMONT MORTGAGE, INC. 2 6.00% $4,151
    CRESCENT MORTGAGE COMPANY 2 5.94% $6,155
    EVERETT FINANCIAL, INC. 2 7.05% $8,241
    Republic State Mortgage Co. 1 7.25% $6,759
    RESIDENTIAL BANCORP 1 7.13% $6,211
    ROYAL UNITED MORTGAGE LLC 1 6.63% $7,067
    FREEDOM MORTGAGE CORPORATION 1 6.75% $10,559
    SECURITYNATIONAL MORTGAGE COMPANY 1 5.63% $13,194
    FirstTrust Home Loans, Inc. 1 5.75% $9,821
    STOCKTON MORTGAGE CORPORATION 1 6.50% $5,033
    CHURCHILL MORTGAGE CORPORATION 1 7.13% $7,951
    SWBC MORTGAGE CORPORATION 1 7.63% $7,476
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.63% $7,589
    TIB The Independent Bankersbank 1 5.88% $5,752
    V.I.P. MORTGAGE, INC. 1 6.63% $6,031
    BAY EQUITY LLC 1 6.75% $4,792
    AmRes Corporation 1 6.25% $13,807
    U.S. Bank 1 6.25% $7,567
    US MORTGAGE CORPORATION 1 6.50% $10,350
    INTERLINC MORTGAGE SERVICES, LLC 1 6.25% $3,053
    LAND HOME FINANCIAL SERVICES, INC. 1 6.75% $5,594
    INSPIRE HOME LOANS INC. 1 6.13% $6,204
    HOMESPIRE MORTGAGE CORPORATION 1 6.50% $2,378
    Home Bank 1 6.88% $5,942
    GENEVA FINANCIAL, LLC 1 6.63% $7,009
    Victorian Finance, LLC 1 7.75% $7,977

    The top Louisiana USDA lender as defined by loan originations is GMFS LLC, with 317 USDA loans originated. Their average total fees are $4,489, which is $3,831 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Louisiana USDA lenders (with over 10 loans originated) are SOUTHPOINT FINANCIAL SERVICES, INC. ($2,730), DSLD MORTGAGE, LLC ($3,551), GMFS LLC ($4,489), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($4,878) and Origin Bank ($5,402).

    The lowest rate Louisiana USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.22%), STANDARD MORTGAGE CORPORATION (5.89%), Regions Bank (5.93%), Red River Bank (5.99%) and First Horizon Bank (6.00%).