Mississippi USDA Loan Rates, Closing Costs & Stats

Mississippi

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    • 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%).