Cleveland USDA Loan Rates, Closing Costs & Stats

CLEVELAND, TN

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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.

    Cleveland's 8 lenders originated 14 USDA loans during 2023. The total origination value was $2,970,000, with an average USDA loan value of $212,143.

    Cleveland USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Cleveland averaged 6.27% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Cleveland's average USDA mortgage closing costs are $5,359.

    The average rate for the prior week (2025-02-07) was 6.63% and one month ago for the week of 2025-01-10, the average rate was 6.67%.

    The average rate one year ago was 6.66%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.82%.

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

    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.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    TJC Mortgage, Inc. 2 5.81% $12,828
    CMG MORTGAGE, INC. 2 6.00% $7,578
    First Citizens National Bank 1 5.75% $5,032
    FIRST COMMUNITY MORTGAGE, INC. 1 6.00% $9,195
    MORTGAGE INVESTORS GROUP, INC. 1 5.88% $5,964
    Citizens Bank 1 6.25% $5,654
    United Community Bank 1 6.13% $5,973
    Equity Prime Mortgage LLC 1 5.88% $9,460

    The top Cleveland USDA lender as defined by loan originations is TJC Mortgage, Inc., with 2 USDA loans originated. Their average total fees are $12,828, which is $5,250 higher than the next largest lender, CMG MORTGAGE, INC..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Cleveland (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 $239,088 (21.7%) $282,977 (18.7%) 0.00 435
    2018-02-01 $239,563 (19.8%) $284,253 (17.3%) 0.00 431
    2018-03-01 $238,900 (19.5%) $282,802 (14.9%) 0.00 437
    2018-04-01 $234,675 (17.4%) $284,589 (14.8%) 0.00 423
    2018-05-01 $232,375 (8.3%) $288,992 (13.2%) 0.00 409
    2018-06-01 $224,900 (2.7%) $283,222 (7.2%) 0.00 452
    2018-07-01 $225,250 (2.9%) $285,413 (8.2%) 0.00 461
    2018-08-01 $223,563 (-2.8%) $281,102 (0.6%) 0.00 484
    2018-09-01 $229,900 (0.4%) $278,254 (0.3%) 0.00 531
    2018-10-01 $232,500 (-1.8%) $286,521 (1.1%) 0.00 502
    2018-11-01 $239,450 (3.0%) $287,721 (4.7%) 0.00 473
    2018-12-01 $234,900 (2.2%) $281,788 (3.9%) 0.00 454
    2019-01-01 $234,600 (-1.9%) $283,308 (0.1%) 0.00 430
    2019-02-01 $234,900 (-2.0%) $278,058 (-2.2%) 0.00 409
    2019-03-01 $238,786 (-0.1%) $283,759 (0.3%) 0.00 397
    2019-04-01 $245,811 (4.8%) $289,383 (1.7%) 0.00 386
    2019-05-01 $248,475 (6.9%) $292,329 (1.2%) 0.00 395
    2019-06-01 $249,900 (11.1%) $300,252 (6.0%) 0.00 418
    2019-07-01 $249,900 (10.9%) $318,486 (11.6%) 0.00 444
    2019-08-01 $249,609 (11.7%) $321,881 (14.5%) 0.00 447
    2019-09-01 $249,773 (8.6%) $324,706 (16.7%) 0.00 458
    2019-10-01 $249,882 (7.5%) $326,601 (14.0%) 0.00 460
    2019-11-01 $249,900 (4.4%) $329,820 (14.6%) 0.00 450
    2019-12-01 $244,950 (4.3%) $325,545 (15.5%) 0.00 423
    2020-01-01 $241,100 (2.8%) $313,742 (10.7%) 0.00 386
    2020-02-01 $249,810 (6.4%) $311,995 (12.2%) 0.00 358
    2020-03-01 $249,175 (4.4%) $317,655 (12.0%) 0.00 352
    2020-04-01 $247,363 (0.6%) $324,377 (12.1%) 0.00 357
    2020-05-01 $259,900 (4.6%) $351,034 (20.1%) 0.00 327
    2020-06-01 $276,350 (10.6%) $360,293 (20.0%) 0.00 277
    2020-07-01 $279,925 (12.0%) $342,198 (7.5%) 0.00 228
    2020-08-01 $280,000 (12.2%) $350,730 (9.0%) 0.00 204
    2020-09-01 $279,750 (12.0%) $350,834 (8.1%) 0.00 225
    2020-10-01 $265,000 (6.1%) $337,546 (3.4%) 0.00 228
    2020-11-01 $259,900 (4.0%) $335,891 (1.8%) 0.00 225
    2020-12-01 $252,750 (3.2%) $337,181 (3.6%) 0.00 180
    2021-01-01 $259,900 (7.8%) $344,021 (9.7%) 0.00 140
    2021-02-01 $282,475 (13.1%) $367,500 (17.8%) 0.00 126
    2021-03-01 $285,950 (14.8%) $362,381 (14.1%) 0.00 112
    2021-04-01 $283,399 (14.6%) $368,547 (13.6%) 0.00 121
    2021-05-01 $273,713 (5.3%) $357,206 (1.8%) 0.00 124
    2021-06-01 $283,775 (2.7%) $389,616 (8.1%) 0.00 151
    2021-07-01 $284,025 (1.5%) $416,756 (21.8%) 0.00 169
    2021-08-01 $285,176 (1.9%) $406,327 (15.9%) 0.00 202
    2021-09-01 $295,078 (5.5%) $420,476 (19.9%) 0.00 208
    2021-10-01 $303,683 (14.6%) $439,029 (30.1%) 0.00 199
    2021-11-01 $336,700 (29.6%) $506,965 (50.9%) 0.00 165
    2021-12-01 $349,500 (38.3%) $499,932 (48.3%) 0.00 161
    2022-01-01 $329,400 (26.7%) $497,192 (44.5%) 0.00 129
    2022-02-01 $363,425 (28.7%) $580,400 (57.9%) 0.00 105
    2022-03-01 $356,600 (24.7%) $556,565 (53.6%) 0.00 107
    2022-04-01 $389,755 (37.5%) $548,064 (48.7%) 0.00 136
    2022-05-01 $385,925 (41.0%) $551,600 (54.4%) 0.00 195
    2022-06-01 $373,075 (31.5%) $530,822 (36.2%) 0.00 249
    2022-07-01 $375,000 (32.0%) $494,772 (18.7%) 0.00 335
    2022-08-01 $382,830 (34.2%) $516,513 (27.1%) 0.00 338
    2022-09-01 $377,388 (27.9%) $506,876 (20.6%) 0.00 360
    2022-10-01 $360,255 (18.6%) $481,483 (9.7%) 0.00 379
    2022-11-01 $359,975 (6.9%) $479,015 (-5.5%) 0.00 375
    2022-12-01 $358,500 (2.6%) $467,597 (-6.5%) 0.00 354
    2023-01-01 $360,910 (9.6%) $454,117 (-8.7%) 0.00 340
    2023-02-01 $370,000 (1.8%) $479,475 (-17.4%) 0.00 321
    2023-03-01 $367,500 (3.1%) $490,207 (-11.9%) 0.00 280
    2023-04-01 $365,000 (-6.4%) $489,417 (-10.7%) 0.00 259
    2023-05-01 $365,975 (-5.2%) $483,341 (-12.4%) 0.00 288
    2023-06-01 $361,000 (-3.2%) $490,086 (-7.7%) 0.00 303
    2023-07-01 $359,900 (-4.0%) $512,351 (3.6%) 0.00 293
    2023-08-01 $365,500 (-4.5%) $524,193 (1.5%) 0.00 286
    2023-09-01 $369,000 (-2.2%) $533,692 (5.3%) 0.00 302
    2023-10-01 $350,000 (-2.9%) $500,141 (3.9%) 0.00 342
    2023-11-01 $354,950 (-1.4%) $481,092 (0.4%) 0.00 383
    2023-12-01 $363,750 (1.5%) $479,885 (2.6%) 0.00 366
    2024-01-01 $365,102 (1.2%) $471,520 (3.8%) 0.00 354
    2024-02-01 $360,277 (-2.6%) $470,766 (-1.8%) 0.00 359
    2024-03-01 $372,400 (1.3%) $474,388 (-3.2%) 0.00 359
    2024-04-01 $374,950 (2.7%) $475,522 (-2.8%) 0.00 380
    2024-05-01 $375,000 (2.5%) $477,376 (-1.2%) 0.00 411
    2024-06-01 $364,900 (1.1%) $449,568 (-8.3%) 0.00 501
    2024-07-01 $349,869 (-2.8%) $430,411 (-16.0%) 0.00 541
    2024-08-01 $349,950 (-4.3%) $447,194 (-14.7%) 0.00 501
    2024-09-01 $345,000 (-6.5%) $434,503 (-18.6%) 0.00 518
    2024-10-01 $319,500 (-8.7%) $409,731 (-18.1%) 0.00 597
    2024-11-01 $349,900 (-1.4%) $455,200 (-5.4%) 0.00 533
    2024-12-01 $346,065 (-4.9%) $463,809 (-3.4%) 0.00 458
    2025-01-01 $353,018 (-3.3%) $482,699 (2.4%) 0.00 426
    Cleveland's median listing price for 2025-01-01 was $353,018, a difference of $-12,084 (-3.3%) versus the prior year and $6,953 versus the prior month.

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

    Cleveland's average listing price for 2025-01-01 was $482,699, a difference of $11,179 (2.4%) versus the prior year and $18,890 versus the prior month.

    For the 2025-01-01 period, Cleveland had 426 MLS listings, a difference of -32 listings (-7%) versus the prior month and 72 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Cleveland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,122 sqft
    2018-02-01 0 days 2,131 sqft
    2018-03-01 0 days 2,162 sqft
    2018-04-01 0 days 2,122 sqft
    2018-05-01 0 days 2,117 sqft
    2018-06-01 0 days 2,069 sqft
    2018-07-01 0 days 2,097 sqft
    2018-08-01 0 days 2,013 sqft
    2018-09-01 0 days 2,084 sqft
    2018-10-01 0 days 2,008 sqft
    2018-11-01 0 days 2,081 sqft
    2018-12-01 0 days 2,034 sqft
    2019-01-01 0 days 1,998 sqft
    2019-02-01 0 days 1,998 sqft
    2019-03-01 0 days 2,040 sqft
    2019-04-01 0 days 2,087 sqft
    2019-05-01 0 days 2,120 sqft
    2019-06-01 0 days 2,164 sqft
    2019-07-01 0 days 2,199 sqft
    2019-08-01 0 days 2,204 sqft
    2019-09-01 0 days 2,204 sqft
    2019-10-01 0 days 2,197 sqft
    2019-11-01 0 days 2,123 sqft
    2019-12-01 0 days 2,100 sqft
    2020-01-01 0 days 2,072 sqft
    2020-02-01 0 days 2,080 sqft
    2020-03-01 0 days 2,100 sqft
    2020-04-01 0 days 2,016 sqft
    2020-05-01 0 days 2,100 sqft
    2020-06-01 0 days 2,168 sqft
    2020-07-01 0 days 2,168 sqft
    2020-08-01 0 days 2,092 sqft
    2020-09-01 0 days 2,067 sqft
    2020-10-01 0 days 2,000 sqft
    2020-11-01 0 days 1,898 sqft
    2020-12-01 0 days 1,895 sqft
    2021-01-01 0 days 1,840 sqft
    2021-02-01 0 days 1,940 sqft
    2021-03-01 0 days 1,993 sqft
    2021-04-01 0 days 1,955 sqft
    2021-05-01 0 days 1,794 sqft
    2021-06-01 0 days 1,854 sqft
    2021-07-01 0 days 1,843 sqft
    2021-08-01 0 days 1,825 sqft
    2021-09-01 0 days 1,890 sqft
    2021-10-01 0 days 1,894 sqft
    2021-11-01 0 days 2,030 sqft
    2021-12-01 0 days 2,062 sqft
    2022-01-01 0 days 2,090 sqft
    2022-02-01 0 days 2,068 sqft
    2022-03-01 0 days 2,077 sqft
    2022-04-01 0 days 2,200 sqft
    2022-05-01 0 days 2,211 sqft
    2022-06-01 0 days 2,179 sqft
    2022-07-01 0 days 2,112 sqft
    2022-08-01 0 days 2,168 sqft
    2022-09-01 0 days 2,142 sqft
    2022-10-01 0 days 2,048 sqft
    2022-11-01 0 days 2,026 sqft
    2022-12-01 0 days 2,016 sqft
    2023-01-01 0 days 1,985 sqft
    2023-02-01 0 days 2,022 sqft
    2023-03-01 0 days 1,971 sqft
    2023-04-01 0 days 2,040 sqft
    2023-05-01 0 days 2,024 sqft
    2023-06-01 0 days 2,018 sqft
    2023-07-01 0 days 2,000 sqft
    2023-08-01 0 days 2,059 sqft
    2023-09-01 0 days 2,007 sqft
    2023-10-01 0 days 1,878 sqft
    2023-11-01 0 days 1,925 sqft
    2023-12-01 0 days 1,890 sqft
    2024-01-01 0 days 1,890 sqft
    2024-02-01 0 days 1,950 sqft
    2024-03-01 0 days 1,893 sqft
    2024-04-01 0 days 1,939 sqft
    2024-05-01 0 days 1,938 sqft
    2024-06-01 0 days 1,841 sqft
    2024-07-01 0 days 1,796 sqft
    2024-08-01 0 days 1,800 sqft
    2024-09-01 0 days 1,779 sqft
    2024-10-01 0 days 1,641 sqft
    2024-11-01 0 days 1,733 sqft
    2024-12-01 0 days 1,731 sqft
    2025-01-01 0 days 1,764 sqft
    Cleveland's median listing age (time on market) for 2025-01-01 was 0 days.

    Cleveland's median square footage for active listings during the 2025-01-01 period was 1,764 sqft. One year prior, the average listing was 1,890 sqft.