Chattanooga USDA Loan Rates, Closing Costs & Stats

CHATTANOOGA, TN-GA

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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.

    Chattanooga's 42 lenders originated 97 USDA loans during 2023. The total origination value was $20,205,000, with an average USDA loan value of $208,299.

    Chattanooga USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Chattanooga averaged 6.51% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Chattanooga's average USDA mortgage closing costs are $5,372.

    The average rate for the prior week (2025-02-07) was 6.67% and one month ago for the week of 2025-01-10, the average rate was 6.71%.

    The average rate one year ago was 6.4%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.61%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    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.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNION HOME MORTGAGE CORP. 9 6.81% $9,375
    MORTGAGE INVESTORS GROUP, INC. 9 6.26% $7,974
    LEADERONE FINANCIAL CORPORATION 7 7.03% $7,944
    Renasant Bank 6 6.46% $5,927
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.58% $6,452
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 7.06% $6,853
    FirstBank 4 6.34% $8,180
    UNITED WHOLESALE MORTGAGE, LLC 4 6.09% $8,877
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.92% $7,921
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.42% $9,630
    CMG MORTGAGE, INC. 2 6.81% $9,488
    COMMUNITY MORTGAGE CORPORATION 2 6.50% $9,668
    CROSSCOUNTRY MORTGAGE, LLC 2 6.44% $9,141
    STOCKTON MORTGAGE CORPORATION 2 6.25% $10,134
    TJC Mortgage, Inc. 2 6.38% $7,212
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 7.13% $5,313
    MEMBER FIRST MORTGAGE, LLC 1 6.13% $5,882
    MOVEMENT MORTGAGE, LLC 1 6.00% $10,380
    NFM, INC. 1 7.13% $6,239
    PLAZA HOME MORTGAGE, INC. 1 7.25% $15,375
    SeaTrust Mortgage Company 1 5.63% $10,012
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.63% $2,177
    SUMMIT FUNDING, INC. 1 7.13% $10,712
    Synovus Bank 1 5.75% $8,323
    VAN DYK MORTGAGE CORPORATION 1 7.13% $2,422
    ABSOLUTE HOME MORTGAGE CORPORATION 1 7.38% $6,641
    Wolfe Financial, Inc 1 6.00% $8,038
    ALAMEDA MORTGAGE CORPORATION 1 7.13% $8,669
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $6,345
    AmRes Corporation 1 6.75% $9,028
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.50% $7,601
    BROKER SOLUTIONS, INC. 1 6.63% $10,107
    Century Mortgage Company DBA Century Lending Company 1 7.25% $5,546
    DAS Acquisition Company, LLC 1 7.63% $7,138
    FIRST COMMUNITY MORTGAGE, INC. 1 6.38% $5,012
    First Vision Bank of Tennessee 1 6.50% $8,323
    Flagstar Bank, FSB 1 7.25% $8,984
    GUARANTEED RATE, INC. 1 6.75% $7,788
    HOMESTAR FINANCIAL CORPORATION 1 5.63% $2,359
    Independent Bank 1 6.88% $6,444
    Legends Bank 1 6.50% $6,893
    Magnolia Bank 1 7.75% $6,477

    The top Chattanooga USDA lender as defined by loan originations is UNION HOME MORTGAGE CORP., with 9 USDA loans originated. Their average total fees are $9,375, which is $1,401 higher than the next largest lender, MORTGAGE INVESTORS GROUP, INC..

    The lowest fee Chattanooga USDA lenders (with over 10 loans originated) are .

    The lowest rate Chattanooga USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Chattanooga (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $235,000 (9.3%) $308,355 (6.7%) 0.87 1,812
    2018-02-01 $242,200 (9.5%) $320,395 (9.0%) 0.88 1,772
    2018-03-01 $249,900 (10.3%) $333,965 (10.7%) 0.88 1,756
    2018-04-01 $264,900 (15.2%) $345,443 (11.6%) 0.90 1,750
    2018-05-01 $277,484 (15.7%) $355,101 (11.2%) 0.93 1,832
    2018-06-01 $274,900 (13.8%) $350,186 (2.8%) 0.92 2,026
    2018-07-01 $270,550 (10.4%) $347,143 (2.2%) 0.90 2,168
    2018-08-01 $274,525 (14.4%) $347,726 (9.8%) 0.92 2,208
    2018-09-01 $269,900 (10.2%) $342,719 (6.2%) 0.91 2,262
    2018-10-01 $270,000 (10.9%) $342,468 (6.2%) 0.91 2,274
    2018-11-01 $274,975 (17.0%) $344,558 (9.3%) 0.93 2,306
    2018-12-01 $270,000 (12.6%) $341,801 (8.5%) 0.93 2,223
    2019-01-01 $269,900 (14.9%) $338,817 (9.9%) 0.93 2,081
    2019-02-01 $271,500 (12.1%) $338,765 (5.7%) 0.92 2,059
    2019-03-01 $283,914 (13.6%) $347,758 (4.1%) 0.93 1,998
    2019-04-01 $296,800 (12.0%) $356,445 (3.2%) 0.94 1,994
    2019-05-01 $295,000 (6.3%) $361,893 (1.9%) 0.92 2,078
    2019-06-01 $294,800 (7.2%) $357,933 (2.2%) 0.92 2,093
    2019-07-01 $295,000 (9.0%) $354,211 (2.0%) 0.92 2,177
    2019-08-01 $293,536 (6.9%) $348,171 (0.1%) 0.93 2,187
    2019-09-01 $291,491 (8.0%) $349,277 (1.9%) 0.93 2,163
    2019-10-01 $289,900 (7.4%) $348,949 (1.9%) 0.94 2,162
    2019-11-01 $290,000 (5.5%) $349,525 (1.4%) 0.95 2,092
    2019-12-01 $295,058 (9.3%) $352,383 (3.1%) 0.98 1,913
    2020-01-01 $290,500 (7.6%) $349,946 (3.3%) 0.98 1,722
    2020-02-01 $299,900 (10.5%) $362,257 (6.9%) 0.98 1,564
    2020-03-01 $309,676 (9.1%) $370,068 (6.4%) 0.97 1,579
    2020-04-01 $315,450 (6.3%) $379,447 (6.5%) 0.99 1,581
    2020-05-01 $329,700 (11.8%) $402,815 (11.3%) 1.00 1,512
    2020-06-01 $337,125 (14.4%) $429,680 (20.0%) 0.99 1,343
    2020-07-01 $339,900 (15.2%) $438,783 (23.9%) 0.99 1,219
    2020-08-01 $334,900 (14.1%) $430,110 (23.5%) 0.96 1,141
    2020-09-01 $329,450 (13.0%) $434,270 (24.3%) 0.94 1,115
    2020-10-01 $320,000 (10.4%) $426,906 (22.3%) 0.92 1,040
    2020-11-01 $316,975 (9.3%) $426,424 (22.0%) 0.93 1,012
    2020-12-01 $312,450 (5.9%) $425,865 (20.9%) 0.93 951
    2021-01-01 $319,450 (10.0%) $436,317 (24.7%) 0.95 767
    2021-02-01 $331,175 (10.4%) $464,678 (28.3%) 0.96 565
    2021-03-01 $347,225 (12.1%) $464,436 (25.5%) 0.99 539
    2021-04-01 $350,000 (11.0%) $470,351 (24.0%) 0.95 527
    2021-05-01 $349,450 (6.0%) $495,280 (23.0%) 0.93 548
    2021-06-01 $349,975 (3.8%) $496,093 (15.5%) 0.92 642
    2021-07-01 $335,000 (-1.4%) $458,989 (4.6%) 0.88 747
    2021-08-01 $324,900 (-3.0%) $459,580 (6.9%) 0.87 863
    2021-09-01 $341,800 (3.8%) $460,097 (6.0%) 0.91 851
    2021-10-01 $350,000 (9.4%) $482,881 (13.1%) 0.93 759
    2021-11-01 $360,000 (13.6%) $492,456 (15.5%) 0.96 657
    2021-12-01 $354,900 (13.6%) $492,361 (15.6%) 0.96 578
    2022-01-01 $345,000 (8.0%) $491,856 (12.7%) 0.93 522
    2022-02-01 $358,720 (8.3%) $523,569 (12.7%) 0.93 460
    2022-03-01 $350,000 (0.8%) $544,488 (17.2%) 0.88 472
    2022-04-01 $422,450 (20.7%) $579,350 (23.2%) 1.00 525
    2022-05-01 $437,450 (25.2%) $576,196 (16.3%) 1.00 709
    2022-06-01 $419,950 (20.0%) $555,185 (11.9%) 0.94 892
    2022-07-01 $399,000 (19.1%) $538,348 (17.3%) 0.90 1,103
    2022-08-01 $396,300 (22.0%) $516,555 (12.4%) 0.92 1,209
    2022-09-01 $399,450 (16.9%) $521,052 (13.3%) 0.93 1,238
    2022-10-01 $399,000 (14.0%) $528,925 (9.5%) 0.94 1,307
    2022-11-01 $395,000 (9.7%) $519,595 (5.5%) 0.95 1,376
    2022-12-01 $395,000 (11.3%) $519,214 (5.5%) 0.98 1,257
    2023-01-01 $398,150 (15.4%) $505,827 (2.8%) 0.99 1,135
    2023-02-01 $398,400 (11.1%) $505,083 (-3.5%) 0.96 1,065
    2023-03-01 $407,225 (16.4%) $537,383 (-1.3%) 0.96 1,017
    2023-04-01 $439,900 (4.1%) $571,054 (-1.4%) 1.02 1,019
    2023-05-01 $438,950 (0.3%) $566,484 (-1.7%) 1.00 1,096
    2023-06-01 $438,117 (4.3%) $558,911 (0.7%) 0.99 1,159
    2023-07-01 $435,000 (9.0%) $558,832 (3.8%) 0.99 1,249
    2023-08-01 $437,500 (10.4%) $562,469 (8.9%) 1.00 1,278
    2023-09-01 $430,000 (7.7%) $553,379 (6.2%) 1.00 1,336
    2023-10-01 $418,086 (4.8%) $531,274 (0.4%) 0.99 1,472
    2023-11-01 $415,000 (5.1%) $530,514 (2.1%) 0.99 1,532
    2023-12-01 $409,900 (3.8%) $526,626 (1.4%) 1.00 1,519
    2024-01-01 $399,923 (0.5%) $527,182 (4.2%) 0.98 1,429
    2024-02-01 $402,500 (1.0%) $530,388 (5.0%) 0.97 1,441
    2024-03-01 $425,000 (4.4%) $548,162 (2.0%) 1.00 1,441
    2024-04-01 $425,000 (-3.4%) $559,090 (-2.1%) 0.99 1,485
    2024-05-01 $424,500 (-3.3%) $556,176 (-1.8%) 0.97 1,529
    2024-06-01 $415,000 (-5.3%) $524,357 (-6.2%) 0.96 1,673
    2024-07-01 $409,950 (-5.8%) $525,099 (-6.0%) 0.94 1,868
    2024-08-01 $399,900 (-8.6%) $518,584 (-7.8%) 0.93 1,987
    2024-09-01 $401,701 (-6.6%) $518,313 (-6.3%) 0.95 2,091
    2024-10-01 $399,450 (-4.5%) $510,973 (-3.8%) 0.94 2,402
    2024-11-01 $398,676 (-3.9%) $502,364 (-5.3%) 0.96 2,168
    2024-12-01 $397,792 (-3.0%) $502,052 (-4.7%) 0.99 2,024
    2025-01-01 $399,900 (0.0%) $499,789 (-5.2%) 0.00 1,934
    Chattanooga's median listing price for 2025-01-01 was $399,900, a difference of $-23 (0.0%) versus the prior year and $2,108 versus the prior month.

    Chattanooga's median listing price comes in at 0% of the national average.

    Chattanooga's average listing price for 2025-01-01 was $499,789, a difference of $-27,393 (-5.2%) versus the prior year and $-2,263 versus the prior month.

    For the 2025-01-01 period, Chattanooga had 1,934 MLS listings, a difference of -90 listings (-4%) versus the prior month and 505 listings (35%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Chattanooga (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date 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 2,192 sqft
    2018-05-01 50 days 2,227 sqft
    2018-06-01 47 days 2,169 sqft
    2018-07-01 50 days 2,174 sqft
    2018-08-01 59 days 2,165 sqft
    2018-09-01 58 days 2,161 sqft
    2018-10-01 64 days 2,163 sqft
    2018-11-01 67 days 2,169 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 2,187 sqft
    2019-04-01 51 days 2,219 sqft
    2019-05-01 50 days 2,228 sqft
    2019-06-01 53 days 2,231 sqft
    2019-07-01 56 days 2,236 sqft
    2019-08-01 57 days 2,229 sqft
    2019-09-01 61 days 2,236 sqft
    2019-10-01 63 days 2,235 sqft
    2019-11-01 64 days 2,217 sqft
    2019-12-01 73 days 2,214 sqft
    2020-01-01 79 days 2,200 sqft
    2020-02-01 71 days 2,197 sqft
    2020-03-01 50 days 2,244 sqft
    2020-04-01 52 days 2,247 sqft
    2020-05-01 60 days 2,298 sqft
    2020-06-01 57 days 2,308 sqft
    2020-07-01 58 days 2,256 sqft
    2020-08-01 52 days 2,229 sqft
    2020-09-01 46 days 2,174 sqft
    2020-10-01 49 days 2,100 sqft
    2020-11-01 53 days 2,072 sqft
    2020-12-01 56 days 2,034 sqft
    2021-01-01 66 days 2,063 sqft
    2021-02-01 44 days 2,075 sqft
    2021-03-01 34 days 2,098 sqft
    2021-04-01 33 days 2,100 sqft
    2021-05-01 23 days 2,100 sqft
    2021-06-01 25 days 2,066 sqft
    2021-07-01 24 days 2,030 sqft
    2021-08-01 28 days 2,002 sqft
    2021-09-01 34 days 2,027 sqft
    2021-10-01 39 days 2,064 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 2,011 sqft
    2022-04-01 20 days 2,150 sqft
    2022-05-01 22 days 2,209 sqft
    2022-06-01 26 days 2,206 sqft
    2022-07-01 31 days 2,125 sqft
    2022-08-01 38 days 2,102 sqft
    2022-09-01 44 days 2,107 sqft
    2022-10-01 47 days 2,117 sqft
    2022-11-01 52 days 2,092 sqft
    2022-12-01 63 days 2,085 sqft
    2023-01-01 73 days 2,085 sqft
    2023-02-01 60 days 2,089 sqft
    2023-03-01 47 days 2,083 sqft
    2023-04-01 44 days 2,121 sqft
    2023-05-01 43 days 2,130 sqft
    2023-06-01 42 days 2,139 sqft
    2023-07-01 40 days 2,088 sqft
    2023-08-01 44 days 2,065 sqft
    2023-09-01 46 days 2,073 sqft
    2023-10-01 49 days 2,050 sqft
    2023-11-01 52 days 2,021 sqft
    2023-12-01 57 days 1,980 sqft
    2024-01-01 66 days 1,928 sqft
    2024-02-01 53 days 1,939 sqft
    2024-03-01 44 days 1,999 sqft
    2024-04-01 50 days 2,000 sqft
    2024-05-01 45 days 2,000 sqft
    2024-06-01 47 days 2,000 sqft
    2024-07-01 48 days 1,966 sqft
    2024-08-01 50 days 1,932 sqft
    2024-09-01 53 days 1,939 sqft
    2024-10-01 59 days 1,917 sqft
    2024-11-01 66 days 1,910 sqft
    2024-12-01 69 days 1,908 sqft
    2025-01-01 0 days 1,892 sqft
    Chattanooga's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Chattanooga's median square footage for active listings during the 2025-01-01 period was 1,892 sqft. One year prior, the average listing was 1,928 sqft.