El Paso USDA Loans

EL PASO, TX

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.

El Paso's 6 lenders originated 8 USDA loans during 2021. The total origination value was $1,460,000, with an average USDA loan value of $182,500.

El Paso USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in El Paso averaged 5.16% 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 5.35% and one month ago for the week of 2022-04-15, the average rate was 4.94%.

The average rate one year ago was 3.09%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.04%.

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

El Paso 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 El Paso level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
CADENCE LENDING GROUP, INC. 2 3.00% $6,004
PLAZA HOME MORTGAGE, INC. 2 2.81% $6,762
AMERICAN FINANCIAL NETWORK, INC. 1 2.75% $8,783
PATRIOT MORTGAGE COMPANY 1 2.75% $7,845
PENNYMAC LOAN SERVICES, LLC 1 2.75% $4,686
SOUTHWEST FUNDING, LP 1 3.25% $11,325

The top El Paso USDA lender as defined by loan originations is CADENCE LENDING GROUP, INC., with 2 USDA loans originated. Their average total fees are $6,004, which is $758 lower than the next largest lender, PLAZA HOME MORTGAGE, INC..

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - El Paso (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 $167,950 (2.4%) $197,260 (-2.7%) 0.62 3,503
2018-02-01 $168,450 (2.2%) $196,717 (-3.7%) 0.61 3,535
2018-03-01 $169,900 (2.4%) $199,118 (-2.7%) 0.59 3,447
2018-04-01 $172,350 (3.9%) $201,196 (-2.8%) 0.58 3,258
2018-05-01 $173,475 (3.9%) $201,206 (-3.0%) 0.58 3,210
2018-06-01 $175,000 (4.2%) $203,874 (-3.9%) 0.58 3,149
2018-07-01 $177,225 (5.5%) $205,829 (-2.9%) 0.59 3,152
2018-08-01 $177,638 (6.0%) $204,991 (-3.0%) 0.59 3,058
2018-09-01 $177,950 (6.0%) $203,850 (-3.2%) 0.60 3,076
2018-10-01 $177,450 (5.7%) $202,899 (-2.8%) 0.59 3,185
2018-11-01 $178,995 (6.4%) $204,032 (-2.9%) 0.60 3,144
2018-12-01 $179,950 (6.8%) $206,944 (4.6%) 0.62 2,967
2019-01-01 $183,925 (9.5%) $208,920 (5.9%) 0.63 2,807
2019-02-01 $184,975 (9.8%) $210,295 (6.9%) 0.62 2,804
2019-03-01 $187,121 (10.1%) $214,203 (7.6%) 0.61 2,695
2019-04-01 $189,950 (10.2%) $218,759 (8.7%) 0.60 2,629
2019-05-01 $191,595 (10.5%) $221,919 (10.3%) 0.59 2,625
2019-06-01 $192,000 (9.7%) $222,416 (9.1%) 0.59 2,590
2019-07-01 $191,750 (8.2%) $222,320 (8.0%) 0.60 2,642
2019-08-01 $192,907 (8.6%) $223,713 (9.1%) 0.61 2,565
2019-09-01 $193,132 (8.5%) $225,049 (10.4%) 0.61 2,482
2019-10-01 $191,710 (8.0%) $227,251 (12.0%) 0.61 2,556
2019-11-01 $196,950 (10.0%) $229,385 (12.4%) 0.64 2,570
2019-12-01 $193,475 (7.5%) $226,538 (9.5%) 0.65 2,433
2020-01-01 $192,950 (4.9%) $227,082 (8.7%) 0.64 2,375
2020-02-01 $192,950 (4.3%) $227,124 (8.0%) 0.62 2,406
2020-03-01 $195,975 (4.7%) $230,153 (7.5%) 0.61 2,304
2020-04-01 $194,100 (2.2%) $227,790 (4.1%) 0.60 2,250
2020-05-01 $202,950 (5.9%) $234,070 (5.5%) 0.62 1,933
2020-06-01 $211,725 (10.3%) $243,994 (9.7%) 0.62 1,593
2020-07-01 $217,725 (13.6%) $245,874 (10.6%) 0.62 1,444
2020-08-01 $216,950 (12.5%) $249,052 (11.3%) 0.62 1,464
2020-09-01 $216,200 (11.9%) $251,775 (11.9%) 0.62 1,403
2020-10-01 $226,750 (18.3%) $257,150 (13.2%) 0.65 1,392
2020-11-01 $233,390 (18.5%) $263,571 (14.9%) 0.67 1,323
2020-12-01 $229,285 (18.5%) $263,193 (16.2%) 0.67 1,345
2021-01-01 $229,999 (19.2%) $267,420 (17.8%) 0.68 1,245
2021-02-01 $230,225 (19.3%) $270,629 (19.2%) 0.66 1,169
2021-03-01 $234,975 (19.9%) $268,358 (16.6%) 0.66 1,132
2021-04-01 $238,273 (22.8%) $269,501 (18.3%) 0.64 1,051
2021-05-01 $245,000 (20.7%) $279,199 (19.3%) 0.64 1,006
2021-06-01 $249,925 (18.0%) $288,031 (18.1%) 0.65 1,001
2021-07-01 $249,500 (14.6%) $285,963 (16.3%) 0.65 1,033
2021-08-01 $247,950 (14.3%) $285,442 (14.6%) 0.65 1,104
2021-09-01 $247,950 (14.7%) $286,297 (13.7%) 0.65 1,076
2021-10-01 $251,950 (11.1%) $293,070 (14.0%) 0.66 1,149
2021-11-01 $253,850 (8.8%) $293,427 (11.3%) 0.67 1,091
2021-12-01 $257,475 (12.3%) $301,282 (14.5%) 0.69 1,015
2022-01-01 $261,450 (13.7%) $308,047 (15.2%) 0.70 913
2022-02-01 $266,635 (15.8%) $310,000 (14.6%) 0.68 877
2022-03-01 $274,475 (16.8%) $318,803 (18.8%) 0.68 859
2022-04-01 $279,950 (17.5%) $321,101 (19.2%) 0.66 914
El Paso's median listing price for 2022-04-01 was $279,950, a difference of $41,677 (17.5%) versus the prior year and $5,475 versus the prior month.

El Paso's median listing price comes in at 66% of the national average.

El Paso's average listing price for 2022-04-01 was $321,101, a difference of $51,600 (19.2%) versus the prior year and $2,298 versus the prior month.

For the 2022-04-01 period, El Paso had 914 MLS listings, a difference of 55 listings (6%) versus the prior month and -137 listings (-13%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - El Paso (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 105 days 1,790 sqft
2018-02-01 109 days 1,792 sqft
2018-03-01 102 days 1,800 sqft
2018-04-01 89 days 1,820 sqft
2018-05-01 89 days 1,820 sqft
2018-06-01 90 days 1,840 sqft
2018-07-01 88 days 1,844 sqft
2018-08-01 82 days 1,856 sqft
2018-09-01 78 days 1,856 sqft
2018-10-01 76 days 1,854 sqft
2018-11-01 79 days 1,854 sqft
2018-12-01 82 days 1,843 sqft
2019-01-01 89 days 1,840 sqft
2019-02-01 83 days 1,842 sqft
2019-03-01 74 days 1,866 sqft
2019-04-01 72 days 1,888 sqft
2019-05-01 68 days 1,901 sqft
2019-06-01 66 days 1,911 sqft
2019-07-01 61 days 1,900 sqft
2019-08-01 64 days 1,914 sqft
2019-09-01 67 days 1,914 sqft
2019-10-01 66 days 1,905 sqft
2019-11-01 70 days 1,913 sqft
2019-12-01 78 days 1,892 sqft
2020-01-01 81 days 1,883 sqft
2020-02-01 70 days 1,866 sqft
2020-03-01 66 days 1,880 sqft
2020-04-01 74 days 1,850 sqft
2020-05-01 85 days 1,885 sqft
2020-06-01 77 days 1,903 sqft
2020-07-01 66 days 1,942 sqft
2020-08-01 57 days 1,946 sqft
2020-09-01 46 days 1,909 sqft
2020-10-01 53 days 1,943 sqft
2020-11-01 64 days 1,976 sqft
2020-12-01 65 days 1,954 sqft
2021-01-01 64 days 1,954 sqft
2021-02-01 54 days 1,915 sqft
2021-03-01 51 days 1,925 sqft
2021-04-01 56 days 1,923 sqft
2021-05-01 45 days 1,987 sqft
2021-06-01 43 days 1,993 sqft
2021-07-01 44 days 1,982 sqft
2021-08-01 38 days 1,933 sqft
2021-09-01 43 days 1,939 sqft
2021-10-01 45 days 1,965 sqft
2021-11-01 52 days 1,971 sqft
2021-12-01 64 days 1,962 sqft
2022-01-01 57 days 1,946 sqft
2022-02-01 35 days 1,935 sqft
2022-03-01 38 days 1,900 sqft
2022-04-01 38 days 1,941 sqft
El Paso's median listing age (time on market) for 2022-04-01 was 38 days. This is -32% shorter than the same period one year ago.

El Paso's median square footage for active listings during the 2022-04-01 period was 1,941 sqft. One year prior, the average listing was 1,923 sqft.