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%).