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
-0.2%
for the week of 2024-11-29, compared to the national average (all USDA variants) of
0% for the same period.
Mississippi's average USDA mortgage closing costs are $4,845.
The average rate for the prior week (2024-11-22) was
6.21% and
one month ago for the week of 2024-10-25, the
average rate was 6.41%.
The average rate one year ago was 7.21%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.01%.
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 |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
Trustmark National Bank
|
94
|
6.22%
|
$5,998
|
Flagstar Bank, FSB
|
89
|
6.50%
|
$7,036
|
Renasant Bank
|
76
|
6.67%
|
$5,979
|
CROSSCOUNTRY MORTGAGE, LLC
|
63
|
6.72%
|
$6,983
|
BancorpSouth
|
56
|
6.23%
|
$6,073
|
Regions Bank
|
52
|
6.46%
|
$5,863
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
52
|
6.41%
|
$6,420
|
GMFS LLC
|
48
|
6.58%
|
$5,136
|
OPEN MORTGAGE, LLC
|
43
|
6.75%
|
$7,267
|
STOCKTON MORTGAGE CORPORATION
|
39
|
6.39%
|
$7,091
|
CMG MORTGAGE, INC.
|
36
|
6.55%
|
$7,600
|
PLANET HOME LENDING, LLC
|
36
|
6.62%
|
$8,172
|
Community Bank of Mississippi
|
28
|
6.41%
|
$4,822
|
Magnolia Bank
|
28
|
6.37%
|
$6,552
|
FIRST COMMUNITY MORTGAGE, INC.
|
26
|
6.59%
|
$5,968
|
UNITED WHOLESALE MORTGAGE, LLC
|
26
|
6.36%
|
$7,915
|
Bank of England
|
21
|
6.39%
|
$7,689
|
Nations Lending Corporation
|
21
|
7.02%
|
$4,053
|
CARDINAL FINANCIAL
|
19
|
6.31%
|
$8,177
|
SWBC MORTGAGE CORPORATION
|
16
|
6.50%
|
$5,183
|
DHI MORTGAGE COMPANY, LTD.
|
12
|
5.24%
|
$5,071
|
Equity Prime Mortgage LLC
|
11
|
6.35%
|
$8,075
|
MORTGAGE INVESTORS GROUP, INC.
|
11
|
6.68%
|
$5,683
|
Paramount Residential Mortgage Group, Inc.
|
10
|
6.75%
|
$7,557
|
FIDELITY BANK
|
10
|
6.84%
|
$5,865
|
Eagle Bank and Trust Company
|
9
|
6.29%
|
$7,826
|
UNION HOME MORTGAGE CORP.
|
8
|
6.48%
|
$5,751
|
CB&S Bank, Inc.
|
8
|
6.53%
|
$4,963
|
NEWREZ LLC
|
8
|
6.77%
|
$5,548
|
The Citizens National Bank of Meridian
|
8
|
6.19%
|
$5,381
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
8
|
6.77%
|
$6,745
|
DELMAR FINANCIAL COMPANY
|
7
|
6.41%
|
$7,542
|
AMERICAN PACIFIC MORTGAGE CORPORATION
|
7
|
6.46%
|
$7,996
|
BankPlus
|
7
|
6.31%
|
$4,831
|
BROKER SOLUTIONS, INC.
|
7
|
6.68%
|
$6,627
|
Origin Bank
|
7
|
6.50%
|
$5,894
|
Merchants & Marine Bank
|
6
|
6.62%
|
$8,396
|
FIRST COLONY MORTGAGE CORPORATION
|
6
|
6.88%
|
$8,928
|
MOVEMENT MORTGAGE, LLC
|
6
|
6.92%
|
$5,438
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
6
|
6.67%
|
$6,922
|
LEADERONE FINANCIAL CORPORATION
|
5
|
6.98%
|
$6,565
|
COMMUNITY MORTGAGE CORPORATION
|
5
|
6.12%
|
$7,404
|
GUARANTY HOME MORTGAGE CORPORATION
|
5
|
5.85%
|
$6,351
|
DRAPER AND KRAMER MORTGAGE CORP.
|
5
|
7.02%
|
$7,295
|
EUSTIS AND AMERICAN MORTGAGE COMPANY
|
5
|
6.83%
|
$6,982
|
AMERICAN FINANCIAL NETWORK, INC.
|
5
|
6.85%
|
$7,785
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
5
|
6.78%
|
$6,144
|
MICHIGAN MUTUAL, INC.
|
4
|
6.69%
|
$5,213
|
GENEVA FINANCIAL, LLC
|
4
|
6.38%
|
$8,986
|
GUILD MORTGAGE COMPANY
|
4
|
6.53%
|
$6,031
|
MID AMERICA MORTGAGE, INC.
|
4
|
7.16%
|
$6,233
|
KEESLER
|
4
|
6.56%
|
$5,513
|
EVERETT FINANCIAL, INC.
|
3
|
7.29%
|
$7,622
|
Evolve Bank & Trust
|
3
|
6.33%
|
$6,025
|
FirstTrust Home Loans, Inc.
|
3
|
7.25%
|
$8,321
|
HIGHLANDS RESIDENTIAL MORTGAGE, LTD.
|
3
|
7.18%
|
$7,447
|
LOANDEPOT.COM, LLC
|
3
|
6.38%
|
$5,672
|
Mortgage Research Center, LLC
|
3
|
7.33%
|
$2,684
|
Northpointe Bank
|
3
|
6.75%
|
$8,609
|
Plains Commerce Bank
|
3
|
6.17%
|
$6,776
|
AMERICAN FINANCIAL RESOURCES, INC.
|
3
|
6.79%
|
$5,743
|
GUARANTEED RATE, INC.
|
2
|
7.13%
|
$9,703
|
Grand Bank for Savings, FSB
|
2
|
7.25%
|
$7,040
|
CRESCENT MORTGAGE COMPANY
|
2
|
5.88%
|
$3,877
|
EVANSVILLE TEACHERS
|
2
|
5.75%
|
$5,701
|
PLAZA HOME MORTGAGE, INC.
|
2
|
7.19%
|
$9,922
|
First Horizon Bank
|
2
|
6.69%
|
$5,442
|
Citizens Bank
|
2
|
6.00%
|
$5,595
|
CIS Financial Services, Inc.
|
2
|
5.88%
|
$7,641
|
BAYSHORE MORTGAGE FUNDING, LLC
|
2
|
7.13%
|
$6,984
|
Assurance Financial Group, L.L.C.
|
2
|
7.06%
|
$6,797
|
Ixonia Bank
|
2
|
6.63%
|
$6,194
|
FirstBank
|
1
|
5.63%
|
$7,894
|
The First National Bank of Middle Tennessee
|
1
|
6.13%
|
$4,748
|
TOWNE MORTGAGE COMPANY
|
1
|
6.13%
|
$8,276
|
America's Mortgage Resource, Inc.
|
1
|
6.75%
|
$5,216
|
Sierra Pacific Mortgage Company, Inc.
|
1
|
7.13%
|
$3,802
|
Simmons Bank
|
1
|
6.25%
|
$5,611
|
CHURCHILL MORTGAGE CORPORATION
|
1
|
5.88%
|
$7,730
|
SUCCESS MORTGAGE PARTNERS, INC.
|
1
|
6.63%
|
$7,736
|
DIRECT MORTGAGE LOANS, LLC
|
1
|
7.13%
|
$11,158
|
ACADEMY MORTGAGE CORPORATION
|
1
|
7.25%
|
$9,413
|
Fifth Third Bank
|
1
|
5.75%
|
$12,094
|
Hancock Whitney Bank
|
1
|
5.63%
|
$5,806
|
Wells Fargo Bank
|
1
|
7.13%
|
$5,826
|
Cornerstone First Mortgage, Inc
|
1
|
6.63%
|
$4,911
|
First Federal Bank, A FSB
|
1
|
5.63%
|
$6,792
|
The Central Trust Bank
|
1
|
6.13%
|
$6,023
|
DSLD MORTGAGE, LLC
|
1
|
5.88%
|
$3,280
|
The top Mississippi USDA lender as defined by loan originations is Trustmark National Bank, with
94 USDA loans originated. Their average total fees are
$5,998, which is $1,038
lower than the next largest lender,
Flagstar Bank, FSB.
The lowest fee Mississippi USDA lenders (with over 10 loans originated) are
Nations Lending Corporation ($4,053), Community Bank of Mississippi ($4,822), DHI MORTGAGE COMPANY, LTD. ($5,071), GMFS LLC ($5,136) and SWBC MORTGAGE CORPORATION ($5,183).
The lowest rate Mississippi USDA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.24%), Trustmark National Bank (6.22%), BancorpSouth (6.23%), CARDINAL FINANCIAL (6.31%) and Equity Prime Mortgage LLC (6.35%).