El Paso USDA Loan Rates, Closing Costs & Stats

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 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 6.77% for the week of 2024-06-14, compared to the national average (all USDA variants) of 6.709% for the same period.

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

The average rate for the prior week (2024-06-07) was 6.47% and one month ago for the week of 2024-05-10, the average rate was 6.85%.

The average rate one year ago was 6.71%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.69%.

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
2024-04-01 $300,125 (0.0%) $350,940 (0.0%) 0.70 2,462
2024-05-01 $302,285 (-2.5%) $352,246 (-1.0%) 0.68 2,542
El Paso's median listing price for 2024-05-01 was $302,285, a difference of $-7,715 (-2.5%) versus the prior year and $2,160 versus the prior month.

El Paso's median listing price comes in at 68% of the national average.

El Paso's average listing price for 2024-05-01 was $352,246, a difference of $-3,409 (-1.0%) versus the prior year and $1,306 versus the prior month.

For the 2024-05-01 period, El Paso had 2,542 MLS listings, a difference of 80 listings (3%) versus the prior month and 801 listings (46%) 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 1,898 sqft
2024-04-01 57 days 1,894 sqft
2024-05-01 53 days 1,876 sqft
El Paso's median listing age (time on market) for 2024-05-01 was 53 days. This is 6% longer than the same period one year ago.

El Paso's median square footage for active listings during the 2024-05-01 period was 1,876 sqft. One year prior, the average listing was 1,950 sqft.