Clarksville USDA Loans
CLARKSVILLE, TN-KY
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.
Clarksville's 32 lenders originated 75 USDA loans during 2021. The total origination value was $12,915,000, with an average USDA loan value of $172,200.
Clarksville USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Clarksville
averaged
5.43%
for the week of 2022-05-20, compared to the national average (all USDA variants) of
5.315% for the same period.
The average rate for the prior week (2022-05-13) was
5.02% and
one month ago for the week of 2022-04-15, the
average rate was 5.11%.
The average rate one year ago was 2.96%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.09%.
Clarksville USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Clarksville level.
The top Clarksville USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
14 USDA loans originated. Their average total fees are
$4,721, which is $1,332
lower than the next largest lender,
STOCKTON MORTGAGE CORPORATION.
The lowest fee Clarksville USDA lenders (with over 10 loans originated) are
FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($4,721), STOCKTON MORTGAGE CORPORATION ($6,052), .
The lowest rate Clarksville USDA lenders (with over 10 loans originated) are
STOCKTON MORTGAGE CORPORATION (3.10%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (3.23%), .
