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%.
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 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 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.
