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%.

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

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.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 3.23% $4,721
STOCKTON MORTGAGE CORPORATION 10 3.10% $6,052
Magnolia Bank 6 2.65% $3,360
FIRST COMMUNITY MORTGAGE, INC. 5 3.58% $3,722
SOUTHWEST FUNDING, LP 3 4.04% $7,377
F&M Bank 3 2.63% $3,912
VAN DYK MORTGAGE CORPORATION 3 3.13% $2,356
Citizens Bank 2 2.69% $5,204
INTERCOASTAL MORTGAGE COMPANY 2 2.88% $5,707
Mortgage Research Center, LLC 2 2.63% $2,969
Bank of England 2 3.00% $7,525
Flagstar Bank, FSB 2 2.81% $6,268
MORTGAGE INVESTORS GROUP, INC. 1 3.00% $5,948
Nations Lending Corporation 1 3.50% $4,001
Renasant Bank 1 2.75% $7,636
RUOFF MORTGAGE COMPANY, INC. 1 3.38% $828
SUCCESS MORTGAGE PARTNERS, INC. 1 3.88% $6,510
UNITED WHOLESALE MORTGAGE, LLC 1 2.38% $4,227
U.S. Bank 1 3.13% $3,649
VANDERBILT MORTGAGE AND FINANCE, INC. 1 3.38% $5,966
ISERVE RESIDENTIAL LENDING, LLC 1 3.25% $7,644
CALIBER HOME LOANS, INC. 1 3.75% $4,535
CMG MORTGAGE, INC. 1 3.25% $7,818
COMMUNITY MORTGAGE CORPORATION 1 3.00% $5,706
FirstBank 1 2.75% $7,660
First Federal Bank 1 2.38% $7,173
FREEDOM MORTGAGE CORPORATION 1 3.00% $4,437
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 2.50% $7,755
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.88% $4,268
AMERICAN MORTGAGE SERVICE COMPANY 1 2.75% $4,533
Legends Bank 1 2.75% $4,069
LOANDEPOT.COM, LLC 1 2.88% $5,744

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%), .