Jackson USDA Loan Rates, Closing Costs & Stats

JACKSON, MS

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.

Jackson's 33 lenders originated 192 USDA loans during 2023. The total origination value was $39,440,000, with an average USDA loan value of $205,417.

Jackson USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Jackson averaged 0.1% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

Jackson's average USDA mortgage closing costs are $5,143.

The average rate for the prior week (2024-11-22) was 6.7% and one month ago for the week of 2024-10-25, the average rate was 6.4%.

The average rate one year ago was 7.2%.

For refis of the same type during the week of 2024-11-29, the average rate was 0.44%.

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

Jackson 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 Jackson level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
OPEN MORTGAGE, LLC 24 6.68% $7,753
BancorpSouth 21 6.07% $7,226
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 18 6.44% $6,087
Trustmark National Bank 13 6.55% $5,914
PLANET HOME LENDING, LLC 12 6.85% $6,942
UNITED WHOLESALE MORTGAGE, LLC 10 6.49% $7,441
Community Bank of Mississippi 10 6.45% $5,201
Renasant Bank 10 6.41% $5,816
CROSSCOUNTRY MORTGAGE, LLC 7 6.82% $6,464
Origin Bank 6 6.48% $6,208
STOCKTON MORTGAGE CORPORATION 5 6.73% $7,875
MORTGAGE INVESTORS GROUP, INC. 4 6.53% $5,778
Bank of England 4 6.83% $7,956
BankPlus 3 5.79% $5,501
FIRST COMMUNITY MORTGAGE, INC. 2 6.63% $5,792
EVANSVILLE TEACHERS 2 5.75% $5,701
Regions Bank 2 6.19% $4,971
LOANDEPOT.COM, LLC 2 6.44% $5,616
UNION HOME MORTGAGE CORP. 2 6.56% $5,424
GUILD MORTGAGE COMPANY 1 6.63% $5,727
AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $8,755
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.50% $10,687
CMG MORTGAGE, INC. 1 6.13% $6,754
Equity Prime Mortgage LLC 1 7.38% $8,968
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.13% $7,543
First Horizon Bank 1 6.50% $5,657
GENEVA FINANCIAL, LLC 1 6.38% $13,302
ACADEMY MORTGAGE CORPORATION 1 7.25% $9,413
Nations Lending Corporation 1 7.75% $5,473
NEWREZ LLC 1 6.13% $7,415
Sierra Pacific Mortgage Company, Inc. 1 7.13% $3,802
SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $7,736
SWBC MORTGAGE CORPORATION 1 6.13% $6,777

The top Jackson USDA lender as defined by loan originations is OPEN MORTGAGE, LLC, with 24 USDA loans originated. Their average total fees are $7,753, which is $527 higher than the next largest lender, BancorpSouth.

The lowest fee Jackson USDA lenders (with over 10 loans originated) are Community Bank of Mississippi ($5,201), Renasant Bank ($5,816), Trustmark National Bank ($5,914), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,087) and PLANET HOME LENDING, LLC ($6,942).

The lowest rate Jackson USDA lenders (with over 10 loans originated) are BancorpSouth (6.07%), Renasant Bank (6.41%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.44%), Community Bank of Mississippi (6.45%) and UNITED WHOLESALE MORTGAGE, LLC (6.49%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Jackson (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 $230,950 (7.5%) $293,197 (2.4%) 0.86 2,456
2018-02-01 $229,975 (4.3%) $290,380 (0.2%) 0.83 2,550
2018-03-01 $235,000 (3.6%) $295,824 (0.7%) 0.82 2,687
2018-04-01 $239,250 (4.5%) $301,497 (2.6%) 0.81 2,844
2018-05-01 $252,925 (10.1%) $326,327 (11.9%) 0.84 2,312
2018-06-01 $259,000 (12.6%) $329,107 (12.2%) 0.86 2,332
2018-07-01 $252,500 (9.8%) $328,095 (12.0%) 0.84 2,319
2018-08-01 $249,700 (6.6%) $321,979 (9.6%) 0.84 2,336
2018-09-01 $244,900 (4.8%) $316,100 (6.8%) 0.82 2,336
2018-10-01 $238,325 (2.6%) $304,020 (2.9%) 0.81 2,340
2018-11-01 $238,063 (3.6%) $307,286 (4.8%) 0.81 2,254
2018-12-01 $235,000 (0.3%) $306,020 (3.3%) 0.81 2,178
2019-01-01 $234,950 (1.7%) $306,046 (4.4%) 0.81 2,031
2019-02-01 $239,925 (4.3%) $315,425 (8.6%) 0.81 2,006
2019-03-01 $246,407 (4.9%) $320,941 (8.5%) 0.81 2,033
2019-04-01 $255,475 (6.8%) $325,745 (8.0%) 0.81 2,085
2019-05-01 $256,250 (1.3%) $327,379 (0.3%) 0.80 2,103
2019-06-01 $255,250 (-1.5%) $329,593 (0.2%) 0.80 2,111
2019-07-01 $252,350 (-0.1%) $324,965 (-1.0%) 0.79 2,136
2019-08-01 $251,273 (0.6%) $324,730 (0.9%) 0.80 2,100
2019-09-01 $250,557 (2.3%) $324,344 (2.6%) 0.80 2,062
2019-10-01 $249,750 (4.8%) $322,970 (6.2%) 0.81 2,033
2019-11-01 $248,900 (4.6%) $317,423 (3.3%) 0.82 2,030
2019-12-01 $249,900 (6.3%) $315,581 (3.1%) 0.83 1,954
2020-01-01 $252,500 (7.5%) $318,751 (4.2%) 0.84 1,777
2020-02-01 $252,850 (5.4%) $314,422 (-0.3%) 0.83 1,760
2020-03-01 $259,950 (5.5%) $321,087 (0.1%) 0.81 1,767
2020-04-01 $263,700 (3.2%) $318,347 (-2.3%) 0.83 1,715
2020-05-01 $269,900 (5.3%) $332,012 (1.4%) 0.82 1,605
2020-06-01 $283,500 (11.1%) $346,806 (5.2%) 0.84 1,483
2020-07-01 $298,300 (18.2%) $354,131 (9.0%) 0.86 1,357
2020-08-01 $301,900 (20.2%) $362,077 (11.5%) 0.87 1,268
2020-09-01 $303,500 (21.1%) $381,771 (17.7%) 0.87 1,155
2020-10-01 $294,000 (17.7%) $378,092 (17.1%) 0.84 1,089
2020-11-01 $285,000 (14.5%) $378,551 (19.3%) 0.83 1,028
2020-12-01 $277,200 (10.9%) $370,118 (17.3%) 0.82 924
2021-01-01 $275,000 (8.9%) $369,056 (15.8%) 0.82 831
2021-02-01 $278,925 (10.3%) $369,733 (17.6%) 0.81 785
2021-03-01 $274,825 (5.7%) $364,027 (13.4%) 0.78 709
2021-04-01 $277,225 (5.1%) $387,251 (21.6%) 0.75 597
2021-05-01 $279,900 (3.7%) $394,713 (18.9%) 0.74 591
2021-06-01 $269,425 (-5.0%) $386,790 (11.5%) 0.71 640
2021-07-01 $275,000 (-7.8%) $379,297 (7.1%) 0.73 708
2021-08-01 $272,000 (-9.9%) $369,804 (2.1%) 0.73 755
2021-09-01 $273,725 (-9.8%) $375,416 (-1.7%) 0.73 728
2021-10-01 $299,000 (1.7%) $402,227 (6.4%) 0.80 712
2021-11-01 $269,925 (-5.3%) $386,607 (2.1%) 0.72 691
2021-12-01 $265,500 (-4.2%) $378,482 (2.3%) 0.72 639
2022-01-01 $271,500 (-1.3%) $382,040 (3.5%) 0.73 562
2022-02-01 $299,800 (7.5%) $385,599 (4.3%) 0.78 537
2022-03-01 $312,450 (13.7%) $401,443 (10.3%) 0.78 587
2022-04-01 $307,450 (10.9%) $409,000 (5.6%) 0.73 623
2022-05-01 $284,825 (1.8%) $388,155 (-1.7%) 0.65 716
2022-06-01 $284,875 (5.7%) $375,351 (-3.0%) 0.63 791
2022-07-01 $310,000 (12.7%) $389,374 (2.7%) 0.70 904
2022-08-01 $300,025 (10.3%) $379,382 (2.6%) 0.69 966
2022-09-01 $297,875 (8.8%) $367,443 (-2.1%) 0.70 1,018
2022-10-01 $299,000 (0.0%) $356,427 (-11.4%) 0.70 1,107
2022-11-01 $305,957 (13.4%) $357,104 (-7.6%) 0.74 1,127
2022-12-01 $325,000 (22.4%) $366,806 (-3.1%) 0.80 1,114
2023-01-01 $320,000 (17.9%) $352,788 (-7.7%) 0.79 1,046
2023-02-01 $324,850 (8.4%) $360,172 (-6.6%) 0.78 1,054
2023-03-01 $299,450 (-4.2%) $349,331 (-13.0%) 0.71 1,141
2023-04-01 $284,889 (-7.3%) $342,584 (-16.2%) 0.66 1,135
2023-05-01 $289,900 (1.8%) $350,752 (-9.6%) 0.66 1,100
2023-06-01 $289,625 (1.7%) $352,781 (-6.0%) 0.65 1,162
2023-07-01 $284,325 (-8.3%) $338,738 (-13.0%) 0.65 1,225
2023-08-01 $287,000 (-4.3%) $341,419 (-10.0%) 0.66 1,313
2023-09-01 $288,500 (-3.2%) $344,536 (-6.2%) 0.67 1,380
2023-10-01 $284,224 (-4.9%) $341,919 (-4.1%) 0.67 1,445
2023-11-01 $284,225 (-7.1%) $345,195 (-3.3%) 0.68 1,508
2023-12-01 $285,000 (-12.3%) $349,581 (-4.7%) 0.70 1,471
2024-01-01 $292,425 (-8.6%) $350,291 (-0.7%) 0.71 1,361
2024-02-01 $297,175 (-8.5%) $349,967 (-2.8%) 0.72 1,304
2024-03-01 $299,999 (0.2%) $358,446 (2.6%) 0.71 1,365
2024-04-01 $307,500 (7.9%) $364,734 (6.5%) 0.72 1,429
2024-05-01 $320,738 (10.6%) $379,652 (8.2%) 0.72 1,475
2024-06-01 $320,000 (10.5%) $381,651 (8.2%) 0.72 1,534
2024-07-01 $319,499 (12.4%) $382,898 (13.0%) 0.73 1,600
2024-08-01 $311,500 (8.5%) $368,765 (8.0%) 0.72 1,656
2024-09-01 $312,500 (8.3%) $365,805 (6.2%) 0.74 1,735
2024-10-01 $308,225 (8.4%) $361,098 (5.6%) 0.73 1,795
Jackson's median listing price for 2024-10-01 was $308,225, a difference of $24,001 (8.4%) versus the prior year and $-4,275 versus the prior month.

Jackson's median listing price comes in at 73% of the national average.

Jackson's average listing price for 2024-10-01 was $361,098, a difference of $19,179 (5.6%) versus the prior year and $-4,707 versus the prior month.

For the 2024-10-01 period, Jackson had 1,795 MLS listings, a difference of 60 listings (3%) versus the prior month and 350 listings (24%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Jackson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 93 days 2,183 sqft
2018-02-01 91 days 2,153 sqft
2018-03-01 74 days 2,198 sqft
2018-04-01 64 days 2,207 sqft
2018-05-01 65 days 2,364 sqft
2018-06-01 67 days 2,392 sqft
2018-07-01 70 days 2,379 sqft
2018-08-01 72 days 2,339 sqft
2018-09-01 77 days 2,292 sqft
2018-10-01 82 days 2,225 sqft
2018-11-01 90 days 2,240 sqft
2018-12-01 95 days 2,228 sqft
2019-01-01 102 days 2,212 sqft
2019-02-01 100 days 2,262 sqft
2019-03-01 82 days 2,296 sqft
2019-04-01 64 days 2,331 sqft
2019-05-01 63 days 2,338 sqft
2019-06-01 71 days 2,341 sqft
2019-07-01 74 days 2,283 sqft
2019-08-01 79 days 2,272 sqft
2019-09-01 79 days 2,279 sqft
2019-10-01 81 days 2,282 sqft
2019-11-01 83 days 2,267 sqft
2019-12-01 90 days 2,257 sqft
2020-01-01 97 days 2,257 sqft
2020-02-01 94 days 2,254 sqft
2020-03-01 72 days 2,307 sqft
2020-04-01 74 days 2,301 sqft
2020-05-01 78 days 2,342 sqft
2020-06-01 75 days 2,401 sqft
2020-07-01 65 days 2,429 sqft
2020-08-01 64 days 2,426 sqft
2020-09-01 63 days 2,421 sqft
2020-10-01 61 days 2,351 sqft
2020-11-01 61 days 2,347 sqft
2020-12-01 71 days 2,272 sqft
2021-01-01 82 days 2,287 sqft
2021-02-01 70 days 2,301 sqft
2021-03-01 58 days 2,311 sqft
2021-04-01 52 days 2,443 sqft
2021-05-01 37 days 2,368 sqft
2021-06-01 37 days 2,227 sqft
2021-07-01 43 days 2,326 sqft
2021-08-01 41 days 2,246 sqft
2021-09-01 47 days 2,320 sqft
2021-10-01 52 days 2,355 sqft
2021-11-01 22 days 2,240 sqft
2021-12-01 50 days 2,186 sqft
2022-01-01 57 days 2,179 sqft
2022-02-01 44 days 2,195 sqft
2022-03-01 32 days 2,135 sqft
2022-04-01 35 days 2,216 sqft
2022-05-01 37 days 2,146 sqft
2022-06-01 40 days 2,107 sqft
2022-07-01 43 days 2,200 sqft
2022-08-01 50 days 2,129 sqft
2022-09-01 56 days 2,126 sqft
2022-10-01 56 days 2,114 sqft
2022-11-01 60 days 2,128 sqft
2022-12-01 71 days 2,150 sqft
2023-01-01 78 days 2,115 sqft
2023-02-01 74 days 2,107 sqft
2023-03-01 54 days 2,063 sqft
2023-04-01 53 days 2,000 sqft
2023-05-01 59 days 2,002 sqft
2023-06-01 60 days 1,998 sqft
2023-07-01 57 days 1,974 sqft
2023-08-01 56 days 2,006 sqft
2023-09-01 54 days 2,015 sqft
2023-10-01 58 days 1,998 sqft
2023-11-01 65 days 2,009 sqft
2023-12-01 70 days 2,006 sqft
2024-01-01 78 days 2,008 sqft
2024-02-01 77 days 2,025 sqft
2024-03-01 56 days 2,052 sqft
2024-04-01 52 days 2,072 sqft
2024-05-01 52 days 2,117 sqft
2024-06-01 60 days 2,112 sqft
2024-07-01 65 days 2,094 sqft
2024-08-01 65 days 2,056 sqft
2024-09-01 66 days 2,049 sqft
2024-10-01 68 days 2,048 sqft
Jackson's median listing age (time on market) for 2024-10-01 was 68 days. This is 17% longer than the same period one year ago.

Jackson's median square footage for active listings during the 2024-10-01 period was 2,048 sqft. One year prior, the average listing was 1,998 sqft.