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 6.44% for the week of 2024-07-05, compared to the national average (all USDA variants) of 6.738% for the same period.

Mississippi's average USDA mortgage closing costs are $4,845.

The average rate for the prior week (2024-06-28) was 6.52% and one month ago for the week of 2024-05-31, the average rate was 6.88%.

The average rate one year ago was 6.77%.

For refis of the same type during the week of 2024-07-05, the average rate was 6.82%.

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%).