Houston USDA Loan Rates, Closing Costs & Stats

HOUSTON-THE WOODLANDS-SUGAR LAND, 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.

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.