El Paso USDA Loan Rates, Closing Costs & Stats

EL PASO, TX

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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.

    El Paso's 3 lenders originated 4 USDA loans during 2023. The total origination value was $970,000, with an average USDA loan value of $242,500.

    El Paso USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in El Paso averaged 6.53% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    El Paso's average USDA mortgage closing costs are $6,261.

    The average rate for the prior week (2024-04-12) was 6.48% and one month ago for the week of 2024-03-15, the average rate was 6.26%.

    The average rate one year ago was 6.4%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.85%.

    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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the El Paso level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    PATRIOT MORTGAGE COMPANY 2 5.94% $15,437
    CMG MORTGAGE, INC. 1 7.63% $9,604
    Paramount Residential Mortgage Group, Inc. 1 7.13% $7,067

    The top El Paso USDA lender as defined by loan originations is PATRIOT MORTGAGE COMPANY, with 2 USDA loans originated. Their average total fees are $15,437, which is $5,833 higher than the next largest lender, CMG 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 (2.2%) $197,104 (-3.2%) 0.62 3,504
    2018-02-01 $168,225 (2.0%) $196,667 (-3.7%) 0.61 3,531
    2018-03-01 $169,775 (2.3%) $198,781 (-3.0%) 0.60 3,449
    2018-04-01 $172,225 (3.8%) $200,788 (-3.6%) 0.58 3,259
    2018-05-01 $173,488 (3.9%) $201,242 (-3.3%) 0.58 3,213
    2018-06-01 $175,000 (4.2%) $203,328 (-4.6%) 0.58 3,162
    2018-07-01 $176,475 (5.1%) $205,403 (-3.7%) 0.59 3,158
    2018-08-01 $177,250 (5.5%) $204,217 (-3.5%) 0.59 3,066
    2018-09-01 $177,388 (5.6%) $203,735 (-3.9%) 0.60 3,075
    2018-10-01 $176,975 (5.5%) $202,710 (-3.2%) 0.60 3,188
    2018-11-01 $178,475 (6.0%) $203,760 (-3.3%) 0.61 3,144
    2018-12-01 $179,900 (6.8%) $206,745 (4.5%) 0.62 2,987
    2019-01-01 $183,725 (9.4%) $208,978 (6.0%) 0.63 2,797
    2019-02-01 $184,975 (10.0%) $210,193 (6.9%) 0.62 2,784
    2019-03-01 $187,629 (10.5%) $214,423 (7.9%) 0.61 2,692
    2019-04-01 $189,925 (10.3%) $218,853 (9.0%) 0.60 2,620
    2019-05-01 $191,475 (10.4%) $221,680 (10.2%) 0.60 2,621
    2019-06-01 $191,950 (9.7%) $222,335 (9.4%) 0.60 2,597
    2019-07-01 $191,450 (8.5%) $222,094 (8.1%) 0.60 2,654
    2019-08-01 $191,727 (8.2%) $223,539 (9.5%) 0.61 2,638
    2019-09-01 $190,755 (7.5%) $224,757 (10.3%) 0.61 2,611
    2019-10-01 $190,583 (7.7%) $226,490 (11.7%) 0.61 2,594
    2019-11-01 $195,000 (9.3%) $228,928 (12.4%) 0.64 2,576
    2019-12-01 $193,450 (7.5%) $226,399 (9.5%) 0.65 2,442
    2020-01-01 $192,950 (5.0%) $226,825 (8.5%) 0.64 2,381
    2020-02-01 $192,950 (4.3%) $228,575 (8.8%) 0.63 2,408
    2020-03-01 $195,975 (4.5%) $230,152 (7.3%) 0.61 2,308
    2020-04-01 $193,950 (2.1%) $228,213 (4.3%) 0.61 2,249
    2020-05-01 $202,950 (6.0%) $233,740 (5.4%) 0.62 1,944
    2020-06-01 $210,470 (9.7%) $243,421 (9.5%) 0.62 1,598
    2020-07-01 $217,088 (13.4%) $245,834 (10.7%) 0.63 1,458
    2020-08-01 $216,066 (12.7%) $248,534 (11.2%) 0.62 1,478
    2020-09-01 $215,700 (13.1%) $251,572 (11.9%) 0.62 1,413
    2020-10-01 $225,950 (18.6%) $256,073 (13.1%) 0.65 1,413
    2020-11-01 $232,100 (19.0%) $262,264 (14.6%) 0.68 1,340
    2020-12-01 $228,107 (17.9%) $261,980 (15.7%) 0.68 1,353
    2021-01-01 $230,000 (19.2%) $267,421 (17.9%) 0.69 1,265
    2021-02-01 $230,462 (19.4%) $269,435 (17.9%) 0.67 1,188
    2021-03-01 $234,975 (19.9%) $267,420 (16.2%) 0.67 1,148
    2021-04-01 $237,611 (22.5%) $268,856 (17.8%) 0.64 1,073
    2021-05-01 $245,000 (20.7%) $277,518 (18.7%) 0.65 1,027
    2021-06-01 $248,950 (18.3%) $287,782 (18.2%) 0.66 1,016
    2021-07-01 $249,900 (15.1%) $285,176 (16.0%) 0.66 1,061
    2021-08-01 $247,950 (14.8%) $284,989 (14.7%) 0.66 1,122
    2021-09-01 $247,950 (15.0%) $286,008 (13.7%) 0.66 1,098
    2021-10-01 $250,000 (10.6%) $292,552 (14.3%) 0.67 1,161
    2021-11-01 $253,588 (9.3%) $293,015 (11.7%) 0.68 1,104
    2021-12-01 $255,950 (12.2%) $300,425 (14.7%) 0.69 1,022
    2022-01-01 $261,500 (13.7%) $306,624 (14.7%) 0.71 911
    2022-02-01 $267,656 (16.1%) $310,205 (15.1%) 0.70 881
    2022-03-01 $275,000 (17.0%) $317,585 (18.8%) 0.69 870
    2022-04-01 $280,000 (17.8%) $320,751 (19.3%) 0.67 931
    2022-05-01 $282,600 (15.4%) $329,216 (18.6%) 0.65 1,014
    2022-06-01 $281,600 (13.1%) $332,242 (15.5%) 0.63 1,171
    2022-07-01 $284,950 (14.0%) $333,165 (16.8%) 0.64 1,498
    2022-08-01 $285,475 (15.1%) $329,146 (15.5%) 0.66 1,538
    2022-09-01 $291,225 (17.5%) $334,289 (16.9%) 0.68 1,576
    2022-10-01 $291,725 (16.7%) $333,290 (13.9%) 0.69 1,840
    2022-11-01 $290,975 (14.7%) $328,828 (12.2%) 0.70 1,890
    2022-12-01 $291,250 (13.8%) $329,155 (9.6%) 0.72 1,884
    2023-01-01 $293,475 (12.2%) $333,079 (8.6%) 0.73 1,877
    2023-02-01 $296,975 (11.0%) $336,712 (8.5%) 0.72 1,829
    2023-03-01 $298,938 (8.7%) $342,437 (7.8%) 0.71 1,822
    2023-04-01 $300,030 (7.2%) $350,990 (9.4%) 0.70 1,666
    2023-05-01 $310,000 (9.7%) $355,655 (8.0%) 0.70 1,741
    2023-06-01 $303,888 (7.9%) $352,426 (6.1%) 0.68 1,951
    2023-07-01 $304,800 (7.0%) $352,381 (5.8%) 0.69 2,112
    2023-08-01 $300,950 (5.4%) $352,679 (7.2%) 0.69 2,189
    2023-09-01 $299,500 (2.8%) $352,175 (5.4%) 0.70 2,253
    2023-10-01 $294,950 (1.1%) $348,420 (4.5%) 0.69 2,414
    2023-11-01 $294,213 (1.1%) $345,927 (5.2%) 0.70 2,501
    2023-12-01 $295,000 (1.3%) $344,035 (4.5%) 0.72 2,330
    2024-01-01 $295,000 (0.5%) $339,830 (2.0%) 0.72 2,303
    2024-02-01 $298,570 (0.5%) $340,766 (1.2%) 0.72 2,435
    2024-03-01 $299,500 (0.2%) $345,633 (0.9%) 0.70 2,449
    El Paso's median listing price for 2024-03-01 was $299,500, a difference of $562 (0.2%) versus the prior year and $930 versus the prior month.

    El Paso's median listing price comes in at 70% of the national average.

    El Paso's average listing price for 2024-03-01 was $345,633, a difference of $3,196 (0.9%) versus the prior year and $4,867 versus the prior month.

    For the 2024-03-01 period, El Paso had 2,449 MLS listings, a difference of 14 listings (1%) versus the prior month and 627 listings (34%) 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 97 days 1,800 sqft
    2018-02-01 100 days 1,800 sqft
    2018-03-01 86 days 1,803 sqft
    2018-04-01 79 days 1,823 sqft
    2018-05-01 80 days 1,823 sqft
    2018-06-01 80 days 1,843 sqft
    2018-07-01 78 days 1,846 sqft
    2018-08-01 71 days 1,859 sqft
    2018-09-01 71 days 1,859 sqft
    2018-10-01 66 days 1,856 sqft
    2018-11-01 70 days 1,855 sqft
    2018-12-01 73 days 1,852 sqft
    2019-01-01 83 days 1,840 sqft
    2019-02-01 74 days 1,841 sqft
    2019-03-01 69 days 1,869 sqft
    2019-04-01 67 days 1,888 sqft
    2019-05-01 65 days 1,905 sqft
    2019-06-01 64 days 1,913 sqft
    2019-07-01 58 days 1,899 sqft
    2019-08-01 60 days 1,908 sqft
    2019-09-01 65 days 1,899 sqft
    2019-10-01 67 days 1,900 sqft
    2019-11-01 72 days 1,913 sqft
    2019-12-01 79 days 1,892 sqft
    2020-01-01 81 days 1,886 sqft
    2020-02-01 70 days 1,874 sqft
    2020-03-01 66 days 1,884 sqft
    2020-04-01 76 days 1,855 sqft
    2020-05-01 83 days 1,892 sqft
    2020-06-01 76 days 1,903 sqft
    2020-07-01 66 days 1,936 sqft
    2020-08-01 57 days 1,952 sqft
    2020-09-01 46 days 1,909 sqft
    2020-10-01 54 days 1,937 sqft
    2020-11-01 65 days 1,967 sqft
    2020-12-01 68 days 1,954 sqft
    2021-01-01 67 days 1,954 sqft
    2021-02-01 50 days 1,916 sqft
    2021-03-01 50 days 1,925 sqft
    2021-04-01 56 days 1,913 sqft
    2021-05-01 44 days 1,987 sqft
    2021-06-01 42 days 1,987 sqft
    2021-07-01 43 days 1,975 sqft
    2021-08-01 38 days 1,932 sqft
    2021-09-01 44 days 1,937 sqft
    2021-10-01 45 days 1,960 sqft
    2021-11-01 52 days 1,964 sqft
    2021-12-01 65 days 1,959 sqft
    2022-01-01 55 days 1,945 sqft
    2022-02-01 33 days 1,936 sqft
    2022-03-01 36 days 1,910 sqft
    2022-04-01 37 days 1,938 sqft
    2022-05-01 30 days 1,938 sqft
    2022-06-01 34 days 1,930 sqft
    2022-07-01 32 days 1,930 sqft
    2022-08-01 48 days 1,930 sqft
    2022-09-01 52 days 1,941 sqft
    2022-10-01 52 days 1,954 sqft
    2022-11-01 60 days 1,941 sqft
    2022-12-01 68 days 1,941 sqft
    2023-01-01 73 days 1,933 sqft
    2023-02-01 67 days 1,935 sqft
    2023-03-01 60 days 1,930 sqft
    2023-04-01 54 days 1,941 sqft
    2023-05-01 50 days 1,950 sqft
    2023-06-01 53 days 1,941 sqft
    2023-07-01 57 days 1,951 sqft
    2023-08-01 63 days 1,951 sqft
    2023-09-01 64 days 1,941 sqft
    2023-10-01 61 days 1,914 sqft
    2023-11-01 65 days 1,899 sqft
    2023-12-01 74 days 1,894 sqft
    2024-01-01 76 days 1,877 sqft
    2024-02-01 67 days 1,884 sqft
    2024-03-01 58 days 1,897 sqft
    El Paso's median listing age (time on market) for 2024-03-01 was 58 days. This is -3% shorter than the same period one year ago.

    El Paso's median square footage for active listings during the 2024-03-01 period was 1,897 sqft. One year prior, the average listing was 1,930 sqft.