Mississippi USDA Loan Rates, Closing Costs & Stats

Mississippi

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.

Mississippi USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Mississippi averaged -0.29% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

Mississippi's average USDA mortgage closing costs are $4,691.

The average rate for the prior week (2023-11-17) was 6.8% and one month ago for the week of 2023-10-20, the average rate was 6.92%.

The average rate one year ago was 6.16%.

For refis of the same type during the week of 2023-11-24, the average rate was -1.09%.

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

Mississippi 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 Mississippi level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Flagstar Bank, FSB 148 4.54% $6,037
Trustmark National Bank 127 4.39% $5,626
BancorpSouth 100 4.64% $5,614
OPEN MORTGAGE, LLC 99 4.86% $7,849
Renasant Bank 90 4.53% $5,370
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 82 4.80% $5,996
GMFS LLC 70 4.73% $4,040
CMG MORTGAGE, INC. 58 4.82% $7,394
PLANET HOME LENDING, LLC 51 5.23% $7,193
Community Bank of Mississippi 50 4.62% $3,708
Regions Bank 47 4.93% $4,903
ANGEL OAK HOME LOANS LLC 40 5.02% $5,755
CROSSCOUNTRY MORTGAGE, LLC 38 5.48% $6,819
MORTGAGE INVESTORS GROUP, INC. 36 4.72% $5,500
EVERETT FINANCIAL, INC. 35 4.96% $3,901
CARDINAL FINANCIAL 34 4.86% $7,196
MOVEMENT MORTGAGE, LLC 33 5.27% $5,851
STOCKTON MORTGAGE CORPORATION 31 5.14% $6,011
FIRST COMMUNITY MORTGAGE, INC. 25 5.05% $6,024
Magnolia Bank 25 4.40% $5,690
CALIBER HOME LOANS, INC. 25 4.63% $6,258
LOANDEPOT.COM, LLC 22 5.09% $5,780
DELMAR FINANCIAL COMPANY 22 4.74% $6,394
MORTGAGE SOLUTIONS OF COLORADO, LLC 21 5.18% $7,103
UNITED WHOLESALE MORTGAGE, LLC 21 5.21% $6,623
Bank of England 20 4.58% $7,345
ACADEMY MORTGAGE CORPORATION 19 4.73% $7,282
EUSTIS AND AMERICAN MORTGAGE COMPANY 17 4.88% $6,380
HOME POINT FINANCIAL CORPORATION 17 4.27% $7,088
FIDELITY BANK 12 4.71% $6,289
DHI MORTGAGE COMPANY, LTD. 12 3.88% $5,631
COMMUNITY MORTGAGE CORPORATION 12 4.53% $5,708
GUARANTY HOME MORTGAGE CORPORATION 11 4.66% $5,850
Eagle Bank and Trust Company 11 4.86% $4,525
Nations Lending Corporation 11 5.33% $4,891
Ixonia Bank 10 4.93% $6,302
INLANTA MORTGAGE, INC. 10 4.17% $6,238
PRIMELENDING, A PLAINSCAPITAL COMPANY 9 5.61% $7,646
Origin Bank 9 5.49% $5,336
AMERICAN PACIFIC MORTGAGE CORPORATION 9 4.71% $7,018
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 9 5.50% $7,491
BankPlus 8 4.91% $4,393
CB&S Bank, Inc. 8 4.72% $4,893
PENNYMAC LOAN SERVICES, LLC 8 2.99% $5,874
PRIMARY RESIDENTIAL MORTGAGE, INC. 7 5.95% $4,277
Merchants & Marine Bank 7 5.52% $5,403
Paramount Residential Mortgage Group, Inc. 7 5.54% $7,247
INTERLINC MORTGAGE SERVICES, LLC 7 4.79% $5,745
AMERICAN HOME LENDING USA, LLC 6 4.85% $7,490
MICHIGAN MUTUAL, INC. 6 4.00% $4,863
Flanagan State Bank 6 4.90% $4,897
DRAPER AND KRAMER MORTGAGE CORP. 5 6.28% $8,194
UNION HOME MORTGAGE CORP. 5 4.78% $6,300
Hometown Lenders, Inc. 5 5.00% $7,072
Plains Commerce Bank 5 4.10% $6,015
HOMESTAR FINANCIAL CORPORATION 5 5.08% $6,076
Equity Prime Mortgage LLC 5 6.20% $7,243
NEWREZ LLC 4 3.81% $6,120
CRESCENT MORTGAGE COMPANY 4 4.06% $4,571
SWBC MORTGAGE CORPORATION 4 4.66% $3,314
The Citizens National Bank of Meridian 4 5.82% $4,824
Hancock Whitney Bank 4 4.31% $5,399
LEADERONE FINANCIAL CORPORATION 4 4.53% $7,484
Assurance Financial Group, L.L.C. 4 4.56% $5,955
Grand Bank for Savings, FSB 3 3.08% $2,096
GUARANTEED RATE, INC. 3 4.88% $5,883
First Guaranty Mortgage Corporation 3 3.17% $6,242
DAS Acquisition Company, LLC 3 4.54% $4,746
MID AMERICA MORTGAGE, INC. 3 4.96% $6,720
MORTGAGE FINANCIAL SERVICES, LLC 3 5.00% $8,399
Simmons Bank 2 5.31% $4,600
LAKEVIEW LOAN SERVICING, LLC 2 3.38% $2,674
Carrington Mortgage Services, LLC 2 6.81% $7,714
SUCCESS MORTGAGE PARTNERS, INC. 2 3.75% $5,715
Citizens Bank 2 5.50% $8,182
LIBERTY HOME MORTGAGE CORPORATION 2 4.44% $4,442
Pinnacle Bank 2 4.31% $4,878
BAYSHORE MORTGAGE FUNDING, LLC 2 5.88% $7,319
Mortgage Research Center, LLC 2 5.94% $3,804
Wolfe Financial, Inc 1 4.88% $11,877
Amerifirst Financial, Inc. 1 5.63% $4,424
Austin Capital Bank SSB 1 3.50% $5,869
BARTLETT MORTGAGE, INC. 1 4.50% $5,893
BROKER SOLUTIONS, INC. 1 6.10% $4,990
CALCON MUTUAL MORTGAGE LLC 1 3.75% $7,433
CIS Financial Services, Inc. 1 5.38% $6,979
CITYWIDE HOME LOANS, LLC 1 4.25% $7,817
DIRECT MORTGAGE LOANS, LLC 1 6.63% $5,879
DSLD MORTGAGE, LLC 1 6.13% $8,221
EVANSVILLE TEACHERS 1 3.00% $3,998
Evolve Bank & Trust 1 5.63% $7,153
FINANCE OF AMERICA MORTGAGE LLC 1 4.88% $4,619
First Horizon Bank 1 5.63% $5,815
FirstTrust Home Loans, Inc. 1 6.50% $7,039
FREEDOM MORTGAGE CORPORATION 1 4.13% $4,534
GUILD MORTGAGE COMPANY 1 7.13% $7,408
Gulf Coast Bank and Trust Company 1 3.75% $6,092
Leaders Credit Union 1 3.63% $1,263
LHM FINANCIAL CORPORATION 1 5.25% $7,004
Northpointe Bank 1 4.25% $5,255
Paramount Bank 1 5.75% $6,411
Patriot Bank 1 4.50% $5,204
PLAZA HOME MORTGAGE, INC. 1 5.63% $3,478
Sierra Pacific Mortgage Company, Inc. 1 4.25% $5,083
STANDARD MORTGAGE CORPORATION 1 5.50% $4,847
SUMMIT FUNDING, INC. 1 5.13% $11,652
The First, A National Banking Association 1 4.75% $6,009
THE MORTGAGE FIRM, INC. 1 4.13% $4,423
TOWNE MORTGAGE COMPANY 1 5.75% $7,132

The top Mississippi USDA lender as defined by loan originations is Flagstar Bank, FSB, with 148 USDA loans originated. Their average total fees are $6,037, which is $410 higher than the next largest lender, Trustmark National Bank.

The lowest fee Mississippi USDA lenders (with over 10 loans originated) are Community Bank of Mississippi ($3,708), EVERETT FINANCIAL, INC. ($3,901), GMFS LLC ($4,040), Eagle Bank and Trust Company ($4,525) and Nations Lending Corporation ($4,891).

The lowest rate Mississippi USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (3.88%), INLANTA MORTGAGE, INC. (4.17%), HOME POINT FINANCIAL CORPORATION (4.27%), Trustmark National Bank (4.39%) and Magnolia Bank (4.40%).