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 48 lenders originated 109 USDA loans during 2023. The total origination value was $26,635,000, with an average USDA loan value of $244,358.

Houston USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Houston averaged 6.33% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

Houston's average USDA mortgage closing costs are $6,755.

The average rate for the prior week (2024-05-31) was 6.72% and one month ago for the week of 2024-05-03, the average rate was 6.51%.

The average rate one year ago was 6.21%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.92%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
LOANDEPOT.COM, LLC 16 5.75% $10,259
DHI MORTGAGE COMPANY, LTD. 9 4.98% $7,258
UNITED WHOLESALE MORTGAGE, LLC 7 5.85% $11,910
PULTE MORTGAGE LLC 5 5.55% $3,695
BancorpSouth 4 6.38% $8,272
CORNERSTONE HOME LENDING, INC. 4 5.53% $10,257
AMCAP MORTGAGE, LTD. 3 6.46% $10,179
Flagstar Bank, FSB 3 6.83% $9,030
PLAZA HOME MORTGAGE, INC. 3 5.79% $9,836
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.21% $9,566
METROPLEX MORTGAGE SERVICES, INC. 3 7.17% $7,096
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 2 6.44% $12,209
Plains Commerce Bank 2 5.13% $14,995
EAGLE HOME MORTGAGE, LLC 2 4.87% $5,762
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.63% $11,139
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 5.81% $7,403
UNION HOME MORTGAGE CORP. 2 6.63% $7,929
GUILD MORTGAGE COMPANY 2 6.13% $9,300
Century Mortgage Company DBA Century Lending Company 2 6.69% $8,929
Network Funding, L.P. 1 6.13% $7,248
NEWREZ LLC 1 7.25% $4,368
Paramount Residential Mortgage Group, Inc. 1 6.00% $15,290
PLANET HOME LENDING, LLC 1 6.00% $9,932
PNC Bank 1 7.75% $4,206
Republic State Mortgage Co. 1 6.75% $2,600
Stride Bank 1 7.25% $10,292
SUN WEST MORTGAGE COMPANY, INC. 1 5.13% $11,592
T2 FINANCIAL LLC 1 6.00% $10,706
THRIVE MORTGAGE, LLC 1 6.13% $7,906
VILLAGE CAPITAL MORTGAGE 1 6.88% $12,333
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.50% $6,214
CARDINAL FINANCIAL 1 5.75% $6,648
Citizens Bank 1 5.13% $9,484
CMG MORTGAGE, INC. 1 6.25% $7,665
DRAPER AND KRAMER MORTGAGE CORP. 1 6.88% $10,753
DSLD MORTGAGE, LLC 1 5.88% $13,302
ENVOY MORTGAGE, LTD 1 6.00% $9,535
Equity Prime Mortgage LLC 1 5.88% $11,696
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.25% $8,421
EVERETT FINANCIAL, INC. 1 6.50% $8,261
First United Bank and Trust Company 1 7.38% $6,632
Goldwater Bank, N.A. 1 6.50% $8,970
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.13% $10,481
INSPIRE HOME LOANS INC. 1 5.75% $7,372
INTERLINC MORTGAGE SERVICES, LLC 1 7.62% $1,859
M/I FINANCIAL, LLC 1 6.38% $8,070
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.13% $6,056
Nations Lending Corporation 1 6.63% $4,840

The top Houston USDA lender as defined by loan originations is LOANDEPOT.COM, LLC, with 16 USDA loans originated. Their average total fees are $10,259, which is $3,001 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Houston USDA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC ($10,259), .

The lowest rate Houston USDA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC (5.75%), .


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 $318,495 (2.8%) $434,988 (2.9%) 1.18 22,158
2018-02-01 $321,450 (3.2%) $441,899 (3.6%) 1.17 22,088
2018-03-01 $325,000 (2.7%) $449,611 (3.5%) 1.14 22,895
2018-04-01 $328,999 (2.8%) $456,334 (3.9%) 1.12 24,834
2018-05-01 $329,939 (3.1%) $458,684 (4.5%) 1.10 26,251
2018-06-01 $329,000 (2.8%) $455,818 (4.8%) 1.10 27,677
2018-07-01 $322,450 (2.4%) $447,415 (4.6%) 1.08 29,017
2018-08-01 $319,083 (3.9%) $439,888 (4.7%) 1.07 29,425
2018-09-01 $315,000 (2.3%) $437,886 (3.3%) 1.06 28,955
2018-10-01 $312,500 (0.5%) $436,561 (1.5%) 1.06 28,692
2018-11-01 $310,000 (-1.6%) $436,824 (0.6%) 1.05 28,143
2018-12-01 $308,157 (-2.2%) $432,749 (0.2%) 1.06 27,043
2019-01-01 $307,500 (-3.5%) $431,378 (-0.8%) 1.06 25,967
2019-02-01 $310,000 (-3.6%) $437,446 (-1.0%) 1.05 26,238
2019-03-01 $317,090 (-2.4%) $447,991 (-0.4%) 1.04 26,956
2019-04-01 $322,722 (-1.9%) $456,544 (0.1%) 1.02 27,862
2019-05-01 $324,900 (-1.5%) $457,864 (-0.2%) 1.02 28,941
2019-06-01 $322,787 (-1.9%) $454,154 (-0.4%) 1.01 30,303
2019-07-01 $317,495 (-1.5%) $446,753 (-0.2%) 0.99 31,152
2019-08-01 $313,609 (-1.7%) $444,089 (1.0%) 0.99 30,569
2019-09-01 $311,523 (-1.1%) $442,461 (1.0%) 1.00 29,778
2019-10-01 $309,450 (-1.0%) $441,376 (1.1%) 1.00 29,069
2019-11-01 $304,500 (-1.8%) $440,352 (0.8%) 1.00 28,200
2019-12-01 $299,993 (-2.7%) $438,261 (1.3%) 1.00 26,390
2020-01-01 $299,900 (-2.5%) $439,509 (1.9%) 1.00 25,051
2020-02-01 $302,990 (-2.3%) $444,683 (1.7%) 0.99 25,107
2020-03-01 $311,450 (-1.8%) $453,156 (1.2%) 0.98 25,899
2020-04-01 $310,495 (-3.8%) $448,967 (-1.7%) 0.97 26,439
2020-05-01 $319,000 (-1.8%) $460,046 (0.5%) 0.97 25,776
2020-06-01 $325,000 (0.7%) $477,682 (5.2%) 0.96 23,777
2020-07-01 $326,500 (2.8%) $484,639 (8.5%) 0.95 22,707
2020-08-01 $329,000 (4.9%) $492,013 (10.8%) 0.94 21,833
2020-09-01 $331,275 (6.3%) $495,529 (12.0%) 0.95 20,386
2020-10-01 $332,500 (7.5%) $494,415 (12.0%) 0.95 19,738
2020-11-01 $332,500 (9.2%) $494,204 (12.2%) 0.97 18,984
2020-12-01 $329,250 (9.8%) $492,079 (12.3%) 0.98 17,592
2021-01-01 $329,990 (10.0%) $497,411 (13.2%) 0.99 15,966
2021-02-01 $332,500 (9.7%) $507,011 (14.0%) 0.97 14,100
2021-03-01 $340,800 (9.4%) $521,078 (15.0%) 0.97 12,851
2021-04-01 $349,450 (12.6%) $538,424 (19.9%) 0.95 12,168
2021-05-01 $359,000 (12.5%) $552,716 (20.1%) 0.95 12,062
2021-06-01 $364,950 (12.3%) $554,119 (16.0%) 0.96 13,417
2021-07-01 $365,000 (11.8%) $543,548 (12.2%) 0.96 14,996
2021-08-01 $361,713 (9.9%) $526,069 (6.9%) 0.96 16,347
2021-09-01 $361,250 (9.1%) $520,459 (5.0%) 0.96 16,238
2021-10-01 $359,900 (8.2%) $517,888 (4.8%) 0.96 15,649
2021-11-01 $359,950 (8.3%) $524,446 (6.1%) 0.96 14,689
2021-12-01 $359,945 (9.3%) $521,750 (6.0%) 0.98 13,433
2022-01-01 $357,365 (8.3%) $518,833 (4.3%) 0.97 12,080
2022-02-01 $361,752 (8.8%) $530,290 (4.6%) 0.94 11,041
2022-03-01 $373,081 (9.5%) $542,575 (4.1%) 0.93 10,671
2022-04-01 $389,900 (11.6%) $558,209 (3.7%) 0.93 10,998
2022-05-01 $398,500 (11.0%) $571,080 (3.3%) 0.91 12,639
2022-06-01 $399,000 (9.3%) $560,844 (1.2%) 0.89 14,892
2022-07-01 $390,000 (6.9%) $538,649 (-0.9%) 0.88 18,422
2022-08-01 $382,495 (5.8%) $523,616 (-0.5%) 0.88 20,138
2022-09-01 $375,500 (3.9%) $513,693 (-1.3%) 0.88 20,452
2022-10-01 $368,990 (2.5%) $508,029 (-1.9%) 0.87 20,825
2022-11-01 $363,384 (1.0%) $505,723 (-3.6%) 0.87 21,205
2022-12-01 $359,900 (0.0%) $499,347 (-4.3%) 0.89 20,060
2023-01-01 $354,950 (-0.7%) $495,111 (-4.6%) 0.88 18,594
2023-02-01 $358,495 (-0.9%) $501,164 (-5.5%) 0.87 17,779
2023-03-01 $360,000 (-3.5%) $507,069 (-6.5%) 0.85 17,425
2023-04-01 $371,000 (-4.9%) $524,401 (-6.1%) 0.86 17,156
2023-05-01 $375,000 (-5.9%) $527,499 (-7.6%) 0.85 17,357
2023-06-01 $378,030 (-5.3%) $529,487 (-5.6%) 0.85 18,457
2023-07-01 $375,940 (-3.6%) $527,958 (-2.0%) 0.85 19,690
2023-08-01 $374,950 (-2.0%) $524,993 (0.3%) 0.86 20,123
2023-09-01 $369,990 (-1.5%) $518,097 (0.9%) 0.86 20,826
2023-10-01 $369,123 (0.0%) $513,033 (1.0%) 0.87 21,775
2023-11-01 $365,000 (0.4%) $509,817 (0.8%) 0.87 22,115
2023-12-01 $359,990 (0.0%) $504,376 (1.0%) 0.88 21,377
2024-01-01 $359,000 (1.1%) $501,778 (1.4%) 0.88 20,401
2024-02-01 $359,990 (0.4%) $506,800 (1.1%) 0.87 20,655
2024-03-01 $362,675 (0.7%) $508,547 (0.3%) 0.85 21,518
2024-04-01 $369,900 (-0.3%) $516,009 (-1.6%) 0.86 22,668
2024-05-01 $370,000 (-1.3%) $517,617 (-1.9%) 0.84 23,993
Houston's median listing price for 2024-05-01 was $370,000, a difference of $-5,000 (-1.3%) versus the prior year and $100 versus the prior month.

Houston's median listing price comes in at 84% of the national average.

Houston's average listing price for 2024-05-01 was $517,617, a difference of $-9,882 (-1.9%) versus the prior year and $1,608 versus the prior month.

For the 2024-05-01 period, Houston had 23,993 MLS listings, a difference of 1,325 listings (6%) versus the prior month and 6,636 listings (38%) 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 73 days 2,531 sqft
2018-02-01 62 days 2,531 sqft
2018-03-01 47 days 2,558 sqft
2018-04-01 44 days 2,568 sqft
2018-05-01 42 days 2,582 sqft
2018-06-01 44 days 2,584 sqft
2018-07-01 51 days 2,560 sqft
2018-08-01 52 days 2,539 sqft
2018-09-01 58 days 2,513 sqft
2018-10-01 61 days 2,496 sqft
2018-11-01 62 days 2,484 sqft
2018-12-01 67 days 2,469 sqft
2019-01-01 73 days 2,449 sqft
2019-02-01 63 days 2,450 sqft
2019-03-01 53 days 2,471 sqft
2019-04-01 50 days 2,497 sqft
2019-05-01 50 days 2,507 sqft
2019-06-01 51 days 2,512 sqft
2019-07-01 51 days 2,494 sqft
2019-08-01 54 days 2,470 sqft
2019-09-01 58 days 2,449 sqft
2019-10-01 61 days 2,432 sqft
2019-11-01 63 days 2,410 sqft
2019-12-01 69 days 2,389 sqft
2020-01-01 73 days 2,376 sqft
2020-02-01 61 days 2,379 sqft
2020-03-01 52 days 2,392 sqft
2020-04-01 58 days 2,384 sqft
2020-05-01 64 days 2,408 sqft
2020-06-01 59 days 2,423 sqft
2020-07-01 51 days 2,424 sqft
2020-08-01 51 days 2,408 sqft
2020-09-01 58 days 2,388 sqft
2020-10-01 58 days 2,348 sqft
2020-11-01 58 days 2,320 sqft
2020-12-01 59 days 2,283 sqft
2021-01-01 59 days 2,252 sqft
2021-02-01 51 days 2,218 sqft
2021-03-01 54 days 2,222 sqft
2021-04-01 45 days 2,229 sqft
2021-05-01 43 days 2,241 sqft
2021-06-01 40 days 2,254 sqft
2021-07-01 39 days 2,258 sqft
2021-08-01 40 days 2,241 sqft
2021-09-01 46 days 2,225 sqft
2021-10-01 52 days 2,209 sqft
2021-11-01 54 days 2,189 sqft
2021-12-01 53 days 2,160 sqft
2022-01-01 61 days 2,128 sqft
2022-02-01 40 days 2,107 sqft
2022-03-01 38 days 2,128 sqft
2022-04-01 35 days 2,148 sqft
2022-05-01 33 days 2,178 sqft
2022-06-01 31 days 2,198 sqft
2022-07-01 33 days 2,200 sqft
2022-08-01 38 days 2,180 sqft
2022-09-01 46 days 2,156 sqft
2022-10-01 48 days 2,140 sqft
2022-11-01 51 days 2,130 sqft
2022-12-01 59 days 2,113 sqft
2023-01-01 63 days 2,086 sqft
2023-02-01 54 days 2,079 sqft
2023-03-01 47 days 2,081 sqft
2023-04-01 43 days 2,091 sqft
2023-05-01 41 days 2,097 sqft
2023-06-01 40 days 2,111 sqft
2023-07-01 40 days 2,128 sqft
2023-08-01 42 days 2,126 sqft
2023-09-01 44 days 2,108 sqft
2023-10-01 46 days 2,108 sqft
2023-11-01 50 days 2,099 sqft
2023-12-01 56 days 2,082 sqft
2024-01-01 59 days 2,049 sqft
2024-02-01 48 days 2,040 sqft
2024-03-01 43 days 2,042 sqft
2024-04-01 43 days 2,063 sqft
2024-05-01 38 days 2,067 sqft
Houston's median listing age (time on market) for 2024-05-01 was 38 days. This is -7% shorter than the same period one year ago.

Houston's median square footage for active listings during the 2024-05-01 period was 2,067 sqft. One year prior, the average listing was 2,097 sqft.