Cleveland USDA Loan Rates, Closing Costs & Stats
CLEVELAND, TN
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.
Cleveland's 29 lenders originated 85 USDA loans during 2021. The total origination value was $17,325,000, with an average USDA loan value of $203,824.
Cleveland USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Cleveland
averaged
6.39%
for the week of 2023-01-27, compared to the national average (all USDA variants) of
6.195% for the same period.
Cleveland's average USDA mortgage closing costs are $5,162.
The average rate for the prior week (2023-01-20) was
6.38% and
one month ago for the week of 2022-12-23, the
average rate was 6.41%.
The average rate one year ago was 3.86%.
For refis of the same type during the week of 2023-01-27, the average rate
was 6.19%.
Cleveland 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 Cleveland level.
The top Cleveland USDA lender as defined by loan originations is TJC Mortgage, Inc., with
13 USDA loans originated. Their average total fees are
$5,838, which is $19
higher than the next largest lender,
MORTGAGE INVESTORS GROUP, INC..
The lowest fee Cleveland USDA lenders (with over 10 loans originated) are
TJC Mortgage, Inc. ($5,838), .
The lowest rate Cleveland USDA lenders (with over 10 loans originated) are
TJC Mortgage, Inc. (2.75%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Cleveland (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 | $239,225 (20.9%) | $283,021 (18.4%) | 0.00 | 438 |
2018-02-01 | $239,788 (20.0%) | $284,288 (17.2%) | 0.00 | 434 |
2018-03-01 | $238,900 (19.5%) | $282,711 (14.7%) | 0.00 | 440 |
2018-04-01 | $234,900 (17.5%) | $285,061 (15.1%) | 0.00 | 426 |
2018-05-01 | $232,400 (8.1%) | $289,873 (13.2%) | 0.00 | 413 |
2018-06-01 | $225,000 (2.6%) | $283,975 (7.2%) | 0.00 | 456 |
2018-07-01 | $226,725 (3.5%) | $285,893 (8.2%) | 0.00 | 466 |
2018-08-01 | $225,450 (-1.9%) | $281,426 (0.9%) | 0.00 | 490 |
2018-09-01 | $229,900 (0.4%) | $278,629 (0.6%) | 0.00 | 535 |
2018-10-01 | $232,425 (-1.9%) | $285,912 (1.1%) | 0.00 | 506 |
2018-11-01 | $238,950 (1.6%) | $287,129 (4.3%) | 0.00 | 478 |
2018-12-01 | $234,900 (2.2%) | $282,273 (4.0%) | 0.00 | 459 |
2019-01-01 | $234,475 (-2.0%) | $283,713 (0.2%) | 0.00 | 436 |
2019-02-01 | $234,900 (-2.0%) | $278,740 (-2.0%) | 0.00 | 414 |
2019-03-01 | $239,643 (0.3%) | $284,876 (0.8%) | 0.00 | 402 |
2019-04-01 | $247,168 (5.2%) | $290,930 (2.1%) | 0.00 | 391 |
2019-05-01 | $248,900 (7.1%) | $293,445 (1.2%) | 0.00 | 401 |
2019-06-01 | $249,900 (11.1%) | $301,256 (6.1%) | 0.00 | 424 |
2019-07-01 | $249,900 (10.2%) | $318,785 (11.5%) | 0.00 | 451 |
2019-08-01 | $249,900 (10.8%) | $321,798 (14.4%) | 0.00 | 456 |
2019-09-01 | $249,900 (8.7%) | $324,044 (16.3%) | 0.00 | 465 |
2019-10-01 | $249,900 (7.5%) | $325,587 (13.9%) | 0.00 | 467 |
2019-11-01 | $249,900 (4.6%) | $328,838 (14.5%) | 0.00 | 458 |
2019-12-01 | $244,900 (4.3%) | $324,090 (14.8%) | 0.00 | 431 |
2020-01-01 | $241,000 (2.8%) | $312,558 (10.2%) | 0.00 | 393 |
2020-02-01 | $249,900 (6.4%) | $311,568 (11.8%) | 0.00 | 362 |
2020-03-01 | $249,175 (4.0%) | $316,837 (11.2%) | 0.00 | 356 |
2020-04-01 | $247,400 (0.1%) | $323,425 (11.2%) | 0.00 | 361 |
2020-05-01 | $259,900 (4.4%) | $349,548 (19.1%) | 0.00 | 331 |
2020-06-01 | $276,350 (10.6%) | $358,620 (19.0%) | 0.00 | 281 |
2020-07-01 | $279,950 (12.0%) | $341,175 (7.0%) | 0.00 | 233 |
2020-08-01 | $280,000 (12.0%) | $351,802 (9.3%) | 0.00 | 212 |
2020-09-01 | $279,925 (12.0%) | $351,483 (8.5%) | 0.00 | 231 |
2020-10-01 | $265,000 (6.0%) | $338,563 (4.0%) | 0.00 | 232 |
2020-11-01 | $259,925 (4.0%) | $336,009 (2.2%) | 0.00 | 231 |
2020-12-01 | $259,400 (5.9%) | $336,554 (3.9%) | 0.00 | 187 |
2021-01-01 | $259,900 (7.8%) | $343,300 (9.8%) | 0.00 | 145 |
2021-02-01 | $282,500 (13.1%) | $365,852 (17.4%) | 0.00 | 132 |
2021-03-01 | $287,450 (15.4%) | $360,916 (13.9%) | 0.00 | 118 |
2021-04-01 | $283,374 (14.5%) | $365,840 (13.1%) | 0.00 | 126 |
2021-05-01 | $273,713 (5.3%) | $353,824 (1.2%) | 0.00 | 127 |
2021-06-01 | $283,775 (2.7%) | $387,124 (8.0%) | 0.00 | 156 |
2021-07-01 | $285,025 (1.8%) | $412,447 (20.9%) | 0.00 | 174 |
2021-08-01 | $286,701 (2.4%) | $405,279 (15.2%) | 0.00 | 206 |
2021-09-01 | $296,500 (5.9%) | $417,421 (18.8%) | 0.00 | 212 |
2021-10-01 | $301,605 (13.8%) | $435,676 (28.7%) | 0.00 | 203 |
2021-11-01 | $332,450 (27.9%) | $501,123 (49.1%) | 0.00 | 169 |
2021-12-01 | $347,500 (34.0%) | $494,505 (46.9%) | 0.00 | 165 |
2022-01-01 | $327,950 (26.2%) | $490,037 (42.7%) | 0.00 | 133 |
2022-02-01 | $358,725 (27.0%) | $566,450 (54.8%) | 0.00 | 109 |
2022-03-01 | $354,475 (23.3%) | $547,713 (51.8%) | 0.00 | 114 |
2022-04-01 | $380,610 (34.3%) | $540,947 (47.9%) | 0.00 | 142 |
2022-05-01 | $383,828 (40.2%) | $546,123 (54.4%) | 0.00 | 200 |
2022-06-01 | $371,118 (30.8%) | $525,655 (35.8%) | 0.00 | 254 |
2022-07-01 | $375,000 (31.6%) | $491,798 (19.2%) | 0.00 | 340 |
2022-08-01 | $382,805 (33.5%) | $513,142 (26.6%) | 0.00 | 345 |
2022-09-01 | $377,450 (27.3%) | $505,087 (21.0%) | 0.00 | 367 |
2022-10-01 | $360,255 (19.5%) | $478,764 (9.9%) | 0.00 | 385 |
2022-11-01 | $359,975 (8.3%) | $477,002 (-4.8%) | 0.00 | 383 |
2022-12-01 | $350,000 (0.7%) | $457,583 (-7.5%) | 0.00 | 371 |
Cleveland's median listing price comes in at 0% of the national average.
Cleveland's average listing price for 2022-12-01 was $457,583, a difference of $-36,922 (-7.5%) versus the prior year and $-19,419 versus the prior month.
For the 2022-12-01 period, Cleveland had 371 MLS listings, a difference of -12 listings (-3%) versus the prior month and 206 listings (125%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Cleveland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,127 sqft |
2018-02-01 | 0 days | 2,129 sqft |
2018-03-01 | 0 days | 2,162 sqft |
2018-04-01 | 0 days | 2,126 sqft |
2018-05-01 | 0 days | 2,119 sqft |
2018-06-01 | 0 days | 2,084 sqft |
2018-07-01 | 0 days | 2,100 sqft |
2018-08-01 | 0 days | 2,016 sqft |
2018-09-01 | 0 days | 2,084 sqft |
2018-10-01 | 0 days | 2,007 sqft |
2018-11-01 | 0 days | 2,078 sqft |
2018-12-01 | 0 days | 2,019 sqft |
2019-01-01 | 0 days | 1,999 sqft |
2019-02-01 | 0 days | 2,001 sqft |
2019-03-01 | 0 days | 2,047 sqft |
2019-04-01 | 0 days | 2,090 sqft |
2019-05-01 | 0 days | 2,126 sqft |
2019-06-01 | 0 days | 2,170 sqft |
2019-07-01 | 0 days | 2,200 sqft |
2019-08-01 | 0 days | 2,203 sqft |
2019-09-01 | 0 days | 2,203 sqft |
2019-10-01 | 0 days | 2,184 sqft |
2019-11-01 | 0 days | 2,112 sqft |
2019-12-01 | 0 days | 2,085 sqft |
2020-01-01 | 0 days | 2,059 sqft |
2020-02-01 | 0 days | 2,075 sqft |
2020-03-01 | 0 days | 2,088 sqft |
2020-04-01 | 0 days | 2,022 sqft |
2020-05-01 | 0 days | 2,100 sqft |
2020-06-01 | 0 days | 2,168 sqft |
2020-07-01 | 0 days | 2,170 sqft |
2020-08-01 | 0 days | 2,092 sqft |
2020-09-01 | 0 days | 2,076 sqft |
2020-10-01 | 0 days | 2,002 sqft |
2020-11-01 | 0 days | 1,899 sqft |
2020-12-01 | 0 days | 1,898 sqft |
2021-01-01 | 0 days | 1,854 sqft |
2021-02-01 | 0 days | 1,993 sqft |
2021-03-01 | 0 days | 2,020 sqft |
2021-04-01 | 0 days | 1,946 sqft |
2021-05-01 | 0 days | 1,788 sqft |
2021-06-01 | 0 days | 1,858 sqft |
2021-07-01 | 0 days | 1,843 sqft |
2021-08-01 | 0 days | 1,833 sqft |
2021-09-01 | 0 days | 1,896 sqft |
2021-10-01 | 0 days | 1,897 sqft |
2021-11-01 | 0 days | 2,031 sqft |
2021-12-01 | 0 days | 2,068 sqft |
2022-01-01 | 0 days | 2,100 sqft |
2022-02-01 | 0 days | 2,082 sqft |
2022-03-01 | 0 days | 2,109 sqft |
2022-04-01 | 0 days | 2,200 sqft |
2022-05-01 | 0 days | 2,223 sqft |
2022-06-01 | 0 days | 2,217 sqft |
2022-07-01 | 0 days | 2,140 sqft |
2022-08-01 | 0 days | 2,210 sqft |
2022-09-01 | 0 days | 2,145 sqft |
2022-10-01 | 0 days | 2,066 sqft |
2022-11-01 | 0 days | 2,024 sqft |
2022-12-01 | 0 days | 2,019 sqft |
Cleveland's median square footage for active listings during the 2022-12-01 period was 2,019 sqft. One year prior, the average listing was 2,068 sqft.