Missouri USDA Loan Rates, Closing Costs & Stats
Missouri
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.
Missouri USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Missouri
averaged
6.73%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Missouri's average USDA mortgage closing costs are $4,243.
The average rate for the prior week (2024-04-12) was
6.79% and
one month ago for the week of 2024-03-15, the
average rate was 6.47%.
The average rate one year ago was 6.31%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.77%.
Missouri 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 Missouri level.
The top Missouri USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with
422 USDA loans originated. Their average total fees are
$4,994, which is $817
lower than the next largest lender,
DAS Acquisition Company, LLC.
The lowest fee Missouri USDA lenders (with over 10 loans originated) are
Midwest Mortgage Associates Corporation ($2,568), Mortgage Research Center, LLC ($3,360), Community Mortgage Banc Corporation ($3,488), Gateway First Bank ($3,550) and Southern Bank ($4,003).
The lowest rate Missouri USDA lenders (with over 10 loans originated) are
Hawthorn Bank (6.18%), First State Community Bank (6.31%), Bank of Washington (6.35%), GENEVA FINANCIAL, LLC (6.40%) and UNITED WHOLESALE MORTGAGE, LLC (6.42%).