Chattanooga USDA Loan Rates, Closing Costs & Stats
CHATTANOOGA, TN-GA
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.
Chattanooga's 46 lenders originated 127 USDA loans during 2022. The total origination value was $24,525,000, with an average USDA loan value of $193,110.
Chattanooga USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Chattanooga
averaged
6.66%
for the week of 2023-12-01, compared to the national average (all USDA variants) of
6.997% for the same period.
Chattanooga's average USDA mortgage closing costs are $5,214.
The average rate for the prior week (2023-11-24) was
6.87% and
one month ago for the week of 2023-10-27, the
average rate was 7.32%.
The average rate one year ago was 6.04%.
For refis of the same type during the week of 2023-12-01, the average rate
was 6.1%.
Chattanooga 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 Chattanooga level.
The top Chattanooga USDA lender as defined by loan originations is CALIBER HOME LOANS, INC., with
13 USDA loans originated. Their average total fees are
$6,958, which is $951
higher than the next largest lender,
MORTGAGE INVESTORS GROUP, INC..
The lowest fee Chattanooga USDA lenders (with over 10 loans originated) are
MORTGAGE INVESTORS GROUP, INC. ($6,007), CALIBER HOME LOANS, INC. ($6,958), .
The lowest rate Chattanooga USDA lenders (with over 10 loans originated) are
MORTGAGE INVESTORS GROUP, INC. (4.00%), CALIBER HOME LOANS, INC. (4.88%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Chattanooga (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $235,000 (9.3%) | $308,169 (6.7%) | 0.87 | 1,816 |
2018-02-01 | $242,200 (9.5%) | $320,468 (9.1%) | 0.88 | 1,777 |
2018-03-01 | $250,000 (10.4%) | $334,458 (11.0%) | 0.88 | 1,760 |
2018-04-01 | $264,900 (15.2%) | $345,917 (11.7%) | 0.90 | 1,752 |
2018-05-01 | $277,500 (15.7%) | $355,524 (11.3%) | 0.93 | 1,833 |
2018-06-01 | $275,000 (13.0%) | $350,477 (2.9%) | 0.92 | 2,030 |
2018-07-01 | $270,950 (10.6%) | $347,392 (2.2%) | 0.90 | 2,174 |
2018-08-01 | $274,700 (14.4%) | $347,864 (9.8%) | 0.92 | 2,216 |
2018-09-01 | $269,900 (10.2%) | $343,006 (6.3%) | 0.91 | 2,267 |
2018-10-01 | $270,000 (10.9%) | $342,740 (6.3%) | 0.91 | 2,278 |
2018-11-01 | $274,987 (17.0%) | $344,823 (9.5%) | 0.93 | 2,310 |
2018-12-01 | $270,000 (12.6%) | $341,767 (8.6%) | 0.93 | 2,226 |
2019-01-01 | $269,900 (14.9%) | $338,725 (9.9%) | 0.93 | 2,084 |
2019-02-01 | $271,750 (12.2%) | $338,827 (5.7%) | 0.92 | 2,062 |
2019-03-01 | $283,871 (13.6%) | $347,651 (3.9%) | 0.93 | 2,001 |
2019-04-01 | $296,750 (12.0%) | $356,381 (3.0%) | 0.94 | 1,997 |
2019-05-01 | $295,000 (6.3%) | $362,204 (1.9%) | 0.92 | 2,082 |
2019-06-01 | $294,800 (7.2%) | $358,176 (2.2%) | 0.92 | 2,096 |
2019-07-01 | $295,000 (8.9%) | $354,482 (2.0%) | 0.92 | 2,180 |
2019-08-01 | $293,573 (6.9%) | $348,480 (0.2%) | 0.93 | 2,191 |
2019-09-01 | $291,507 (8.0%) | $349,588 (1.9%) | 0.93 | 2,167 |
2019-10-01 | $289,900 (7.4%) | $349,260 (1.9%) | 0.94 | 2,166 |
2019-11-01 | $290,000 (5.5%) | $349,839 (1.5%) | 0.95 | 2,096 |
2019-12-01 | $295,117 (9.3%) | $352,651 (3.2%) | 0.98 | 1,916 |
2020-01-01 | $293,375 (8.7%) | $350,435 (3.5%) | 0.98 | 1,725 |
2020-02-01 | $299,900 (10.4%) | $363,132 (7.2%) | 0.98 | 1,568 |
2020-03-01 | $309,800 (9.1%) | $370,905 (6.7%) | 0.97 | 1,583 |
2020-04-01 | $316,000 (6.5%) | $380,228 (6.7%) | 0.99 | 1,584 |
2020-05-01 | $329,800 (11.8%) | $403,602 (11.4%) | 1.00 | 1,514 |
2020-06-01 | $337,500 (14.5%) | $430,525 (20.2%) | 0.99 | 1,345 |
2020-07-01 | $339,900 (15.2%) | $439,484 (24.0%) | 0.99 | 1,221 |
2020-08-01 | $334,900 (14.1%) | $430,254 (23.5%) | 0.96 | 1,142 |
2020-09-01 | $329,450 (13.0%) | $434,227 (24.2%) | 0.94 | 1,117 |
2020-10-01 | $320,000 (10.4%) | $426,935 (22.2%) | 0.92 | 1,042 |
2020-11-01 | $317,950 (9.6%) | $426,505 (21.9%) | 0.93 | 1,013 |
2020-12-01 | $312,450 (5.9%) | $425,865 (20.8%) | 0.93 | 952 |
2021-01-01 | $319,000 (8.7%) | $436,061 (24.4%) | 0.95 | 768 |
2021-02-01 | $331,175 (10.4%) | $464,678 (28.0%) | 0.96 | 565 |
2021-03-01 | $347,225 (12.1%) | $464,436 (25.2%) | 0.99 | 539 |
2021-04-01 | $350,725 (11.0%) | $470,594 (23.8%) | 0.95 | 528 |
2021-05-01 | $349,900 (6.1%) | $496,777 (23.1%) | 0.93 | 550 |
2021-06-01 | $350,000 (3.7%) | $497,067 (15.5%) | 0.92 | 644 |
2021-07-01 | $335,450 (-1.3%) | $459,256 (4.5%) | 0.89 | 749 |
2021-08-01 | $324,925 (-3.0%) | $459,822 (6.9%) | 0.87 | 864 |
2021-09-01 | $341,875 (3.8%) | $460,272 (6.0%) | 0.91 | 852 |
2021-10-01 | $350,000 (9.4%) | $482,744 (13.1%) | 0.93 | 759 |
2021-11-01 | $361,250 (13.6%) | $492,589 (15.5%) | 0.97 | 657 |
2021-12-01 | $354,900 (13.6%) | $492,361 (15.6%) | 0.96 | 578 |
2022-01-01 | $345,000 (8.2%) | $491,856 (12.8%) | 0.93 | 522 |
2022-02-01 | $358,720 (8.3%) | $523,569 (12.7%) | 0.93 | 460 |
2022-03-01 | $350,000 (0.8%) | $544,116 (17.2%) | 0.88 | 471 |
2022-04-01 | $419,900 (19.7%) | $579,378 (23.1%) | 1.00 | 524 |
2022-05-01 | $437,450 (25.0%) | $576,212 (16.0%) | 1.00 | 708 |
2022-06-01 | $419,975 (20.0%) | $557,807 (12.2%) | 0.94 | 894 |
2022-07-01 | $399,000 (18.9%) | $540,630 (17.7%) | 0.90 | 1,107 |
2022-08-01 | $396,900 (22.2%) | $517,976 (12.7%) | 0.92 | 1,213 |
2022-09-01 | $399,450 (16.8%) | $522,478 (13.5%) | 0.93 | 1,242 |
2022-10-01 | $399,250 (14.1%) | $530,330 (9.9%) | 0.94 | 1,307 |
2022-11-01 | $396,000 (9.6%) | $521,091 (5.8%) | 0.95 | 1,376 |
2022-12-01 | $395,000 (11.3%) | $520,776 (5.8%) | 0.98 | 1,257 |
2023-01-01 | $399,000 (15.7%) | $507,785 (3.2%) | 0.99 | 1,135 |
2023-02-01 | $398,400 (11.1%) | $506,652 (-3.2%) | 0.96 | 1,066 |
2023-03-01 | $408,450 (16.7%) | $538,999 (-0.9%) | 0.96 | 1,018 |
2023-04-01 | $439,900 (4.8%) | $571,997 (-1.3%) | 1.02 | 1,021 |
2023-05-01 | $438,950 (0.3%) | $566,578 (-1.7%) | 0.99 | 1,099 |
2023-06-01 | $438,117 (4.3%) | $559,947 (0.4%) | 0.98 | 1,160 |
2023-07-01 | $437,500 (9.7%) | $560,011 (3.6%) | 0.99 | 1,250 |
2023-08-01 | $437,500 (10.2%) | $563,449 (8.8%) | 1.00 | 1,281 |
2023-09-01 | $430,000 (7.7%) | $553,637 (6.0%) | 1.00 | 1,338 |
2023-10-01 | $418,700 (4.9%) | $531,571 (0.2%) | 0.99 | 1,474 |
2023-11-01 | $415,000 (4.8%) | $530,721 (1.9%) | 0.99 | 1,533 |
Chattanooga's median listing price comes in at 99% of the national average.
Chattanooga's average listing price for 2023-11-01 was $530,721, a difference of $9,630 (1.9%) versus the prior year and $-850 versus the prior month.
For the 2023-11-01 period, Chattanooga had 1,533 MLS listings, a difference of 59 listings (4%) versus the prior month and 157 listings (11%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Chattanooga (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 78 days | 2,080 sqft |
2018-02-01 | 73 days | 2,090 sqft |
2018-03-01 | 55 days | 2,140 sqft |
2018-04-01 | 53 days | 2,194 sqft |
2018-05-01 | 50 days | 2,229 sqft |
2018-06-01 | 47 days | 2,169 sqft |
2018-07-01 | 50 days | 2,175 sqft |
2018-08-01 | 59 days | 2,165 sqft |
2018-09-01 | 58 days | 2,163 sqft |
2018-10-01 | 64 days | 2,164 sqft |
2018-11-01 | 67 days | 2,170 sqft |
2018-12-01 | 73 days | 2,152 sqft |
2019-01-01 | 83 days | 2,154 sqft |
2019-02-01 | 72 days | 2,151 sqft |
2019-03-01 | 63 days | 2,186 sqft |
2019-04-01 | 51 days | 2,220 sqft |
2019-05-01 | 50 days | 2,229 sqft |
2019-06-01 | 53 days | 2,232 sqft |
2019-07-01 | 56 days | 2,237 sqft |
2019-08-01 | 57 days | 2,230 sqft |
2019-09-01 | 60 days | 2,237 sqft |
2019-10-01 | 63 days | 2,236 sqft |
2019-11-01 | 64 days | 2,218 sqft |
2019-12-01 | 73 days | 2,216 sqft |
2020-01-01 | 79 days | 2,200 sqft |
2020-02-01 | 71 days | 2,200 sqft |
2020-03-01 | 50 days | 2,244 sqft |
2020-04-01 | 52 days | 2,247 sqft |
2020-05-01 | 60 days | 2,300 sqft |
2020-06-01 | 57 days | 2,308 sqft |
2020-07-01 | 58 days | 2,260 sqft |
2020-08-01 | 52 days | 2,230 sqft |
2020-09-01 | 46 days | 2,176 sqft |
2020-10-01 | 49 days | 2,100 sqft |
2020-11-01 | 53 days | 2,072 sqft |
2020-12-01 | 56 days | 2,029 sqft |
2021-01-01 | 66 days | 2,063 sqft |
2021-02-01 | 44 days | 2,074 sqft |
2021-03-01 | 34 days | 2,097 sqft |
2021-04-01 | 33 days | 2,100 sqft |
2021-05-01 | 23 days | 2,104 sqft |
2021-06-01 | 25 days | 2,072 sqft |
2021-07-01 | 25 days | 2,032 sqft |
2021-08-01 | 29 days | 2,002 sqft |
2021-09-01 | 34 days | 2,029 sqft |
2021-10-01 | 39 days | 2,065 sqft |
2021-11-01 | 39 days | 2,123 sqft |
2021-12-01 | 43 days | 2,066 sqft |
2022-01-01 | 49 days | 1,980 sqft |
2022-02-01 | 36 days | 2,030 sqft |
2022-03-01 | 25 days | 2,007 sqft |
2022-04-01 | 20 days | 2,150 sqft |
2022-05-01 | 22 days | 2,212 sqft |
2022-06-01 | 26 days | 2,206 sqft |
2022-07-01 | 31 days | 2,133 sqft |
2022-08-01 | 38 days | 2,102 sqft |
2022-09-01 | 44 days | 2,112 sqft |
2022-10-01 | 46 days | 2,125 sqft |
2022-11-01 | 52 days | 2,095 sqft |
2022-12-01 | 63 days | 2,085 sqft |
2023-01-01 | 73 days | 2,085 sqft |
2023-02-01 | 60 days | 2,092 sqft |
2023-03-01 | 47 days | 2,085 sqft |
2023-04-01 | 44 days | 2,125 sqft |
2023-05-01 | 43 days | 2,130 sqft |
2023-06-01 | 42 days | 2,133 sqft |
2023-07-01 | 40 days | 2,088 sqft |
2023-08-01 | 44 days | 2,064 sqft |
2023-09-01 | 46 days | 2,073 sqft |
2023-10-01 | 49 days | 2,050 sqft |
2023-11-01 | 52 days | 2,022 sqft |
Chattanooga's median square footage for active listings during the 2023-11-01 period was 2,022 sqft. One year prior, the average listing was 2,095 sqft.