Rocky Mount USDA Loan Rates, Closing Costs & Stats
ROCKY MOUNT, NC
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.
Rocky Mount's 15 lenders originated 26 USDA loans during 2024. The total origination value was $6,960,000, with an average USDA loan value of $267,692.
Rocky Mount USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Rocky Mount
averaged
6.57%
for the week of 2025-07-18, compared to the national average (all USDA variants) of
6.472% for the same period.
Rocky Mount's average USDA mortgage closing costs are $5,994.
The average rate for the prior week (2025-07-11) was
6.55% and
one month ago for the week of 2025-06-13, the
average rate was 6.4%.
The average rate one year ago was 6.85%.
For refis of the same type during the week of 2025-07-18, the average rate
was 6.57%.
Rocky Mount 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 Rocky Mount level.
| Name | # of Loans | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| VELOCIO MORTGAGE L.L.C. | 5 | 4.74% | $6,824 |
| NVR Mortgage Finance, Inc. | 3 | 6.04% | $11,375 |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | 3 | 6.42% | $8,363 |
| Keystone Funding, Inc. | 2 | 5.88% | $8,858 |
| FBC MORTGAGE, LLC | 1 | 5.99% | $10,202 |
| GUARANTEED RATE, INC. | 1 | 6.75% | $8,666 |
| ABSOLUTE HOME MORTGAGE CORPORATION | 1 | 6.63% | $12,811 |
| MORTGAGE INVESTORS GROUP, INC. | 1 | 6.49% | $4,872 |
| NORWICH COMMERCIAL GROUP, INC. | 1 | 6.25% | $3,846 |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | 1 | 6.13% | $13,252 |
| SUMMIT FUNDING, INC. | 1 | 5.75% | $12,585 |
| GUILD MORTGAGE COMPANY | 1 | 6.38% | $6,355 |
| Alcova Mortgage LLC | 1 | 6.50% | $6,487 |
| BAYSHORE MORTGAGE FUNDING, LLC | 1 | 5.99% | $5,954 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.75% | $9,134 |
The top Rocky Mount USDA lender as defined by loan originations is VELOCIO MORTGAGE L.L.C., with
5 USDA loans originated. Their average total fees are
$6,824, which is $4,551
lower than the next largest lender,
NVR Mortgage Finance, Inc..
The lowest fee Rocky Mount USDA lenders (with over 10 loans originated) are
.
The lowest rate Rocky Mount USDA lenders (with over 10 loans originated) are
.