Houston USDA Loan Rates, Closing Costs & Stats

HOUSTON-THE WOODLANDS-SUGAR LAND, 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.

    Houston's 51 lenders originated 165 USDA loans during 2022. The total origination value was $37,085,000, with an average USDA loan value of $224,758.

    Houston USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Houston averaged 6.06% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

    Houston's average USDA mortgage closing costs are $6,603.

    The average rate for the prior week (2023-05-19) was 6.3% and one month ago for the week of 2023-04-21, the average rate was 6.11%.

    The average rate one year ago was 5.03%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.25%.

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

    Houston 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 Houston level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    LOANDEPOT.COM, LLC 30 4.95% $9,716
    UNITED WHOLESALE MORTGAGE, LLC 8 5.07% $9,397
    AMCAP MORTGAGE, LTD. 7 4.45% $10,699
    CMG MORTGAGE, INC. 7 5.37% $10,513
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 4.39% $5,430
    CALIBER HOME LOANS, INC. 6 4.24% $7,612
    GUARANTEED RATE, INC. 5 4.92% $7,872
    HOME POINT FINANCIAL CORPORATION 5 5.32% $7,277
    Flagstar Bank, FSB 5 3.71% $8,612
    CARDINAL FINANCIAL 5 4.50% $7,921
    PLAZA HOME MORTGAGE, INC. 4 4.66% $9,905
    Gateway First Bank 4 4.91% $7,325
    DHI MORTGAGE COMPANY, LTD. 4 3.81% $8,195
    PENNYMAC LOAN SERVICES, LLC 4 2.84% $7,488
    EUSTIS AND AMERICAN MORTGAGE COMPANY 4 3.41% $5,440
    NATIONS RELIABLE LENDING, LLC 4 4.69% $7,591
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 5.25% $7,928
    T2 FINANCIAL LLC 3 5.21% $10,325
    Goldwater Bank, N.A. 3 4.75% $7,738
    PULTE MORTGAGE LLC 2 5.50% $4,052
    CHERRY CREEK MORTGAGE, LLC 2 4.94% $3,026
    CROSSCOUNTRY MORTGAGE, LLC 2 5.44% $11,801
    INSPIRE HOME LOANS INC. 2 4.19% $13,066
    MID AMERICA MORTGAGE, INC. 2 4.63% $7,566
    M/I FINANCIAL, LLC 2 4.44% $8,126
    Nations Lending Corporation 2 4.75% $7,716
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.25% $9,616
    RANLIFE, INC. 2 4.63% $6,781
    SOUTHWEST FUNDING, LP 2 5.63% $11,952
    THRIVE MORTGAGE, LLC 2 6.13% $6,942
    Loan Simple, Inc. 1 3.00% $7,864
    ACADEMY MORTGAGE CORPORATION 1 6.63% $8,234
    BancorpSouth Bank 1 5.00% $5,268
    MORIA DEVELOPMENT, INC. 1 3.50% $9,012
    SECURITYNATIONAL MORTGAGE COMPANY 1 5.63% $8,920
    EVERETT FINANCIAL, INC. 1 5.88% $4,431
    Network Funding, L.P. 1 5.13% $7,651
    Northpointe Bank 1 5.25% $6,664
    OPEN MORTGAGE, LLC 1 4.63% $10,069
    Paramount Residential Mortgage Group, Inc. 1 2.75% $7,254
    EAGLE HOME MORTGAGE, LLC 1 3.63% $6,132
    CORNERSTONE HOME LENDING, INC. 1 5.25% $6,835
    American Bank of Oklahoma 1 7.13% $7,277
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.13% $9,104
    GUILD MORTGAGE COMPANY 1 5.13% $8,302
    HANCOCK MORTGAGE PARTNERS, LLC 1 4.13% $7,057
    FINANCE OF AMERICA MORTGAGE LLC 1 4.99% $7,819
    Prosperity Home Mortgage, LLC 1 5.12% $9,010
    INTERLINC MORTGAGE SERVICES, LLC 1 3.25% $8,323
    KBHS HOME LOANS, LLC 1 3.63% $8,786
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 6.13% $7,747

    The top Houston USDA lender as defined by loan originations is LOANDEPOT.COM, LLC, with 30 USDA loans originated. Their average total fees are $9,716, which is $319 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Houston USDA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC ($9,716), .

    The lowest rate Houston USDA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC (4.95%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Houston (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 $318,500 (2.8%) $435,101 (2.9%) 1.18 22,151
    2018-02-01 $321,500 (3.2%) $442,053 (3.6%) 1.17 22,076
    2018-03-01 $325,000 (2.6%) $449,739 (3.5%) 1.14 22,887
    2018-04-01 $329,000 (2.8%) $456,442 (3.9%) 1.12 24,826
    2018-05-01 $329,950 (3.1%) $458,813 (4.5%) 1.10 26,243
    2018-06-01 $329,000 (2.8%) $455,935 (4.8%) 1.10 27,668
    2018-07-01 $322,450 (2.4%) $447,515 (4.7%) 1.08 29,011
    2018-08-01 $319,179 (4.0%) $440,004 (4.7%) 1.07 29,414
    2018-09-01 $315,000 (2.3%) $437,992 (3.3%) 1.06 28,944
    2018-10-01 $312,635 (0.5%) $436,691 (1.6%) 1.06 28,677
    2018-11-01 $310,000 (-1.6%) $436,923 (0.6%) 1.05 28,131
    2018-12-01 $308,500 (-2.1%) $432,833 (0.2%) 1.06 27,035
    2019-01-01 $307,553 (-3.4%) $431,463 (-0.8%) 1.06 25,957
    2019-02-01 $310,000 (-3.6%) $437,512 (-1.0%) 1.05 26,232
    2019-03-01 $319,000 (-1.9%) $449,995 (0.1%) 1.06 26,665
    2019-04-01 $322,750 (-1.9%) $456,576 (0.0%) 1.02 27,866
    2019-05-01 $324,900 (-1.5%) $457,913 (-0.2%) 1.02 28,941
    2019-06-01 $322,900 (-1.9%) $454,214 (-0.4%) 1.01 30,294
    2019-07-01 $317,498 (-1.5%) $446,881 (-0.1%) 0.99 31,134
    2019-08-01 $319,000 (-0.1%) $451,197 (2.5%) 1.00 30,727
    2019-09-01 $318,250 (1.0%) $453,129 (3.5%) 1.00 27,511
    2019-10-01 $309,450 (-1.0%) $441,481 (1.1%) 1.00 29,044
    2019-11-01 $304,900 (-1.7%) $440,436 (0.8%) 1.00 28,189
    2019-12-01 $299,993 (-2.8%) $438,357 (1.3%) 1.00 26,378
    2020-01-01 $299,900 (-2.5%) $439,589 (1.9%) 1.00 25,042
    2020-02-01 $302,993 (-2.3%) $444,785 (1.7%) 0.99 25,095
    2020-03-01 $311,547 (-2.3%) $453,253 (0.7%) 0.98 25,888
    2020-04-01 $310,496 (-3.8%) $449,070 (-1.6%) 0.97 26,429
    2020-05-01 $319,000 (-1.8%) $460,142 (0.5%) 0.97 25,768
    2020-06-01 $325,000 (0.7%) $477,817 (5.2%) 0.96 23,772
    2020-07-01 $326,500 (2.8%) $484,728 (8.5%) 0.95 22,699
    2020-08-01 $329,000 (3.1%) $492,141 (9.1%) 0.94 21,824
    2020-09-01 $331,677 (4.2%) $495,643 (9.4%) 0.95 20,379
    2020-10-01 $332,500 (7.5%) $494,415 (12.0%) 0.95 19,732
    2020-11-01 $332,500 (9.1%) $494,311 (12.2%) 0.97 18,974
    2020-12-01 $329,320 (9.8%) $492,213 (12.3%) 0.98 17,584
    2021-01-01 $329,900 (10.0%) $497,863 (13.3%) 0.98 15,962
    2021-02-01 $332,500 (9.7%) $507,744 (14.2%) 0.97 14,096
    2021-03-01 $340,846 (9.4%) $521,258 (15.0%) 0.97 12,848
    2021-04-01 $349,450 (12.6%) $538,642 (20.0%) 0.95 12,167
    2021-05-01 $359,000 (12.5%) $552,829 (20.1%) 0.95 12,061
    2021-06-01 $365,000 (12.3%) $554,443 (16.0%) 0.96 13,417
    2021-07-01 $365,000 (11.8%) $544,031 (12.2%) 0.96 14,993
    2021-08-01 $361,743 (10.0%) $526,256 (6.9%) 0.96 16,345
    2021-09-01 $361,713 (9.1%) $520,899 (5.1%) 0.96 16,232
    2021-10-01 $359,990 (8.3%) $518,401 (4.9%) 0.96 15,644
    2021-11-01 $359,975 (8.3%) $524,674 (6.1%) 0.96 14,683
    2021-12-01 $359,950 (9.3%) $522,051 (6.1%) 0.98 13,422
    2022-01-01 $357,133 (8.3%) $519,244 (4.3%) 0.97 12,067
    2022-02-01 $361,574 (8.7%) $530,657 (4.5%) 0.94 11,034
    2022-03-01 $373,000 (9.4%) $543,222 (4.2%) 0.93 10,664
    2022-04-01 $389,900 (11.6%) $558,544 (3.7%) 0.93 10,993
    2022-05-01 $398,420 (11.0%) $571,416 (3.4%) 0.91 12,632
    2022-06-01 $399,000 (9.3%) $561,373 (1.3%) 0.89 14,881
    2022-07-01 $389,999 (6.9%) $538,911 (-0.9%) 0.88 18,405
    2022-08-01 $382,495 (5.7%) $524,060 (-0.4%) 0.88 20,119
    2022-09-01 $375,703 (3.9%) $514,003 (-1.3%) 0.88 20,436
    2022-10-01 $369,000 (2.5%) $508,190 (-2.0%) 0.87 20,807
    2022-11-01 $363,044 (0.9%) $506,334 (-3.5%) 0.87 21,190
    2022-12-01 $359,900 (0.0%) $499,940 (-4.2%) 0.89 20,044
    2023-01-01 $354,995 (-0.6%) $496,010 (-4.5%) 0.88 18,580
    2023-02-01 $358,250 (-0.9%) $501,724 (-5.5%) 0.86 17,766
    2023-03-01 $360,831 (-3.3%) $508,103 (-6.5%) 0.85 17,407
    2023-04-01 $372,000 (-4.6%) $525,269 (-6.0%) 0.87 17,137
    Houston's median listing price for 2023-04-01 was $372,000, a difference of $-17,900 (-4.6%) versus the prior year and $11,169 versus the prior month.

    Houston's median listing price comes in at 87% of the national average.

    Houston's average listing price for 2023-04-01 was $525,269, a difference of $-33,275 (-6.0%) versus the prior year and $17,166 versus the prior month.

    For the 2023-04-01 period, Houston had 17,137 MLS listings, a difference of -270 listings (-2%) versus the prior month and 6,144 listings (56%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Houston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 74 days 2,531 sqft
    2018-02-01 65 days 2,531 sqft
    2018-03-01 49 days 2,558 sqft
    2018-04-01 44 days 2,569 sqft
    2018-05-01 43 days 2,582 sqft
    2018-06-01 45 days 2,584 sqft
    2018-07-01 51 days 2,561 sqft
    2018-08-01 54 days 2,539 sqft
    2018-09-01 59 days 2,513 sqft
    2018-10-01 64 days 2,496 sqft
    2018-11-01 64 days 2,485 sqft
    2018-12-01 69 days 2,469 sqft
    2019-01-01 74 days 2,449 sqft
    2019-02-01 65 days 2,451 sqft
    2019-03-01 54 days 2,480 sqft
    2019-04-01 51 days 2,497 sqft
    2019-05-01 51 days 2,508 sqft
    2019-06-01 52 days 2,512 sqft
    2019-07-01 53 days 2,495 sqft
    2019-08-01 63 days 2,494 sqft
    2019-09-01 66 days 2,479 sqft
    2019-10-01 63 days 2,432 sqft
    2019-11-01 64 days 2,410 sqft
    2019-12-01 70 days 2,390 sqft
    2020-01-01 76 days 2,376 sqft
    2020-02-01 64 days 2,380 sqft
    2020-03-01 54 days 2,392 sqft
    2020-04-01 59 days 2,384 sqft
    2020-05-01 65 days 2,408 sqft
    2020-06-01 61 days 2,423 sqft
    2020-07-01 53 days 2,424 sqft
    2020-08-01 52 days 2,408 sqft
    2020-09-01 60 days 2,388 sqft
    2020-10-01 60 days 2,348 sqft
    2020-11-01 60 days 2,320 sqft
    2020-12-01 61 days 2,283 sqft
    2021-01-01 60 days 2,252 sqft
    2021-02-01 53 days 2,218 sqft
    2021-03-01 58 days 2,223 sqft
    2021-04-01 49 days 2,230 sqft
    2021-05-01 45 days 2,241 sqft
    2021-06-01 42 days 2,254 sqft
    2021-07-01 41 days 2,258 sqft
    2021-08-01 42 days 2,242 sqft
    2021-09-01 47 days 2,227 sqft
    2021-10-01 53 days 2,210 sqft
    2021-11-01 55 days 2,191 sqft
    2021-12-01 54 days 2,160 sqft
    2022-01-01 62 days 2,128 sqft
    2022-02-01 41 days 2,108 sqft
    2022-03-01 38 days 2,128 sqft
    2022-04-01 36 days 2,147 sqft
    2022-05-01 33 days 2,178 sqft
    2022-06-01 32 days 2,199 sqft
    2022-07-01 34 days 2,196 sqft
    2022-08-01 38 days 2,181 sqft
    2022-09-01 46 days 2,157 sqft
    2022-10-01 49 days 2,141 sqft
    2022-11-01 52 days 2,131 sqft
    2022-12-01 60 days 2,114 sqft
    2023-01-01 64 days 2,087 sqft
    2023-02-01 55 days 2,080 sqft
    2023-03-01 49 days 2,082 sqft
    2023-04-01 44 days 2,093 sqft
    Houston's median listing age (time on market) for 2023-04-01 was 44 days. This is 22% longer than the same period one year ago.

    Houston's median square footage for active listings during the 2023-04-01 period was 2,093 sqft. One year prior, the average listing was 2,147 sqft.