Jackson USDA Loan Rates, Closing Costs & Stats

JACKSON, MS

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 6.43% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

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

    The average rate for the prior week (2025-02-07) was 6.28% and one month ago for the week of 2025-01-10, the average rate was 6.63%.

    The average rate one year ago was 6.62%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.66%.

    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 $229,500 (7.2%) $292,257 (2.0%) 0.86 2,482
    2018-02-01 $229,900 (4.5%) $289,342 (-0.1%) 0.83 2,576
    2018-03-01 $234,900 (4.4%) $294,719 (0.6%) 0.82 2,715
    2018-04-01 $238,950 (4.4%) $300,369 (2.6%) 0.81 2,873
    2018-05-01 $250,000 (9.0%) $324,758 (11.8%) 0.84 2,339
    2018-06-01 $258,000 (12.2%) $327,869 (12.3%) 0.86 2,353
    2018-07-01 $252,400 (9.8%) $326,794 (12.1%) 0.84 2,339
    2018-08-01 $249,000 (7.8%) $320,683 (9.5%) 0.84 2,357
    2018-09-01 $244,500 (6.1%) $315,391 (6.9%) 0.82 2,355
    2018-10-01 $237,625 (3.2%) $303,414 (3.0%) 0.81 2,357
    2018-11-01 $236,825 (3.2%) $306,433 (4.9%) 0.81 2,272
    2018-12-01 $235,000 (1.3%) $305,109 (3.3%) 0.81 2,199
    2019-01-01 $234,925 (2.4%) $305,158 (4.4%) 0.81 2,053
    2019-02-01 $239,900 (4.4%) $314,235 (8.6%) 0.81 2,026
    2019-03-01 $245,571 (4.5%) $319,671 (8.5%) 0.81 2,052
    2019-04-01 $254,000 (6.3%) $324,542 (8.1%) 0.81 2,103
    2019-05-01 $256,000 (2.4%) $326,346 (0.5%) 0.80 2,120
    2019-06-01 $254,900 (-1.2%) $328,237 (0.1%) 0.80 2,133
    2019-07-01 $250,450 (-0.8%) $323,301 (-1.1%) 0.79 2,160
    2019-08-01 $249,973 (0.4%) $323,069 (0.7%) 0.80 2,125
    2019-09-01 $249,932 (2.2%) $322,598 (2.3%) 0.80 2,086
    2019-10-01 $249,450 (5.0%) $320,938 (5.8%) 0.81 2,061
    2019-11-01 $246,400 (4.0%) $315,424 (2.9%) 0.82 2,057
    2019-12-01 $249,000 (6.0%) $313,456 (2.7%) 0.83 1,979
    2020-01-01 $250,000 (6.4%) $316,712 (3.8%) 0.84 1,799
    2020-02-01 $250,000 (4.2%) $312,232 (-0.6%) 0.83 1,784
    2020-03-01 $259,900 (5.8%) $319,194 (-0.2%) 0.81 1,787
    2020-04-01 $261,450 (2.9%) $316,601 (-2.5%) 0.83 1,731
    2020-05-01 $269,900 (5.4%) $330,671 (1.3%) 0.82 1,616
    2020-06-01 $282,261 (10.7%) $345,101 (5.1%) 0.84 1,494
    2020-07-01 $294,975 (17.8%) $352,055 (8.9%) 0.86 1,369
    2020-08-01 $299,999 (20.0%) $360,257 (11.5%) 0.87 1,278
    2020-09-01 $302,450 (21.0%) $378,265 (17.3%) 0.87 1,171
    2020-10-01 $289,450 (16.0%) $374,664 (16.7%) 0.84 1,105
    2020-11-01 $284,425 (15.4%) $375,067 (18.9%) 0.83 1,044
    2020-12-01 $274,500 (10.2%) $366,836 (17.0%) 0.82 937
    2021-01-01 $274,500 (9.8%) $366,004 (15.6%) 0.82 842
    2021-02-01 $276,950 (10.8%) $366,343 (17.3%) 0.81 796
    2021-03-01 $269,900 (3.9%) $361,449 (13.2%) 0.78 719
    2021-04-01 $275,815 (5.5%) $384,678 (21.5%) 0.75 604
    2021-05-01 $275,700 (2.2%) $391,577 (18.4%) 0.74 600
    2021-06-01 $267,950 (-5.1%) $383,879 (11.2%) 0.71 647
    2021-07-01 $274,950 (-6.8%) $374,921 (6.5%) 0.73 719
    2021-08-01 $269,900 (-10.0%) $366,702 (1.8%) 0.73 766
    2021-09-01 $272,425 (-9.9%) $372,134 (-1.6%) 0.73 741
    2021-10-01 $292,400 (1.0%) $399,001 (6.5%) 0.80 724
    2021-11-01 $267,900 (-5.8%) $383,975 (2.4%) 0.72 705
    2021-12-01 $264,950 (-3.5%) $376,619 (2.7%) 0.72 651
    2022-01-01 $270,000 (-1.6%) $378,754 (3.5%) 0.73 574
    2022-02-01 $295,175 (6.6%) $381,988 (4.3%) 0.78 549
    2022-03-01 $305,000 (13.0%) $398,341 (10.2%) 0.78 597
    2022-04-01 $304,999 (10.6%) $405,262 (5.4%) 0.73 632
    2022-05-01 $282,000 (2.3%) $385,397 (-1.6%) 0.65 725
    2022-06-01 $283,200 (5.7%) $373,593 (-2.7%) 0.63 798
    2022-07-01 $306,000 (11.3%) $386,668 (3.1%) 0.70 919
    2022-08-01 $299,950 (11.1%) $377,477 (2.9%) 0.69 977
    2022-09-01 $296,250 (8.8%) $365,880 (-1.7%) 0.70 1,031
    2022-10-01 $298,000 (1.9%) $354,465 (-11.2%) 0.70 1,119
    2022-11-01 $301,488 (12.5%) $354,378 (-7.7%) 0.74 1,144
    2022-12-01 $324,999 (22.7%) $365,418 (-3.0%) 0.80 1,130
    2023-01-01 $317,750 (17.7%) $352,080 (-7.0%) 0.79 1,059
    2023-02-01 $320,000 (8.4%) $358,289 (-6.2%) 0.78 1,072
    2023-03-01 $298,250 (-2.2%) $347,489 (-12.8%) 0.71 1,159
    2023-04-01 $280,000 (-8.2%) $341,340 (-15.8%) 0.66 1,153
    2023-05-01 $289,150 (2.5%) $349,587 (-9.3%) 0.66 1,113
    2023-06-01 $289,450 (2.2%) $352,094 (-5.8%) 0.65 1,176
    2023-07-01 $280,000 (-8.5%) $338,868 (-12.4%) 0.65 1,236
    2023-08-01 $286,450 (-4.5%) $341,191 (-9.6%) 0.66 1,323
    2023-09-01 $286,250 (-3.4%) $343,037 (-6.2%) 0.67 1,397
    2023-10-01 $283,850 (-4.8%) $340,394 (-4.0%) 0.67 1,464
    2023-11-01 $284,000 (-5.8%) $344,026 (-2.9%) 0.68 1,526
    2023-12-01 $285,000 (-12.3%) $347,925 (-4.8%) 0.70 1,494
    2024-01-01 $291,750 (-8.2%) $348,855 (-0.9%) 0.71 1,381
    2024-02-01 $296,375 (-7.4%) $348,891 (-2.6%) 0.72 1,321
    2024-03-01 $299,999 (0.6%) $359,791 (3.5%) 0.71 1,382
    2024-04-01 $307,500 (9.8%) $366,375 (7.3%) 0.72 1,447
    2024-05-01 $320,238 (10.8%) $378,359 (8.2%) 0.72 1,498
    2024-06-01 $319,999 (10.6%) $381,580 (8.4%) 0.72 1,557
    2024-07-01 $319,499 (14.1%) $383,042 (13.0%) 0.73 1,613
    2024-08-01 $310,000 (8.2%) $368,201 (7.9%) 0.72 1,671
    2024-09-01 $311,500 (8.8%) $365,087 (6.4%) 0.74 1,752
    2024-10-01 $307,725 (8.4%) $360,707 (6.0%) 0.73 1,814
    2024-11-01 $300,000 (5.6%) $354,087 (2.9%) 0.73 1,807
    2024-12-01 $299,900 (5.2%) $349,801 (0.5%) 0.75 1,731
    2025-01-01 $299,900 (2.8%) $350,535 (0.5%) 0.00 1,643
    Jackson's median listing price for 2025-01-01 was $299,900, a difference of $8,150 (2.8%) versus the prior year and $0 versus the prior month.

    Jackson's median listing price comes in at 0% of the national average.

    Jackson's average listing price for 2025-01-01 was $350,535, a difference of $1,680 (0.5%) versus the prior year and $734 versus the prior month.

    For the 2025-01-01 period, Jackson had 1,643 MLS listings, a difference of -88 listings (-5%) versus the prior month and 262 listings (19%) 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 2,176 sqft
    2018-02-01 91 days 2,150 sqft
    2018-03-01 74 days 2,196 sqft
    2018-04-01 64 days 2,205 sqft
    2018-05-01 65 days 2,362 sqft
    2018-06-01 67 days 2,392 sqft
    2018-07-01 70 days 2,375 sqft
    2018-08-01 72 days 2,336 sqft
    2018-09-01 77 days 2,290 sqft
    2018-10-01 82 days 2,220 sqft
    2018-11-01 90 days 2,235 sqft
    2018-12-01 95 days 2,216 sqft
    2019-01-01 102 days 2,208 sqft
    2019-02-01 100 days 2,261 sqft
    2019-03-01 82 days 2,292 sqft
    2019-04-01 64 days 2,325 sqft
    2019-05-01 63 days 2,334 sqft
    2019-06-01 71 days 2,335 sqft
    2019-07-01 74 days 2,281 sqft
    2019-08-01 79 days 2,270 sqft
    2019-09-01 79 days 2,273 sqft
    2019-10-01 81 days 2,273 sqft
    2019-11-01 83 days 2,262 sqft
    2019-12-01 90 days 2,254 sqft
    2020-01-01 97 days 2,254 sqft
    2020-02-01 94 days 2,251 sqft
    2020-03-01 72 days 2,303 sqft
    2020-04-01 74 days 2,295 sqft
    2020-05-01 78 days 2,340 sqft
    2020-06-01 75 days 2,395 sqft
    2020-07-01 65 days 2,420 sqft
    2020-08-01 64 days 2,422 sqft
    2020-09-01 63 days 2,412 sqft
    2020-10-01 61 days 2,347 sqft
    2020-11-01 61 days 2,337 sqft
    2020-12-01 71 days 2,268 sqft
    2021-01-01 82 days 2,277 sqft
    2021-02-01 70 days 2,296 sqft
    2021-03-01 58 days 2,302 sqft
    2021-04-01 52 days 2,439 sqft
    2021-05-01 37 days 2,368 sqft
    2021-06-01 37 days 2,236 sqft
    2021-07-01 43 days 2,301 sqft
    2021-08-01 41 days 2,236 sqft
    2021-09-01 47 days 2,304 sqft
    2021-10-01 52 days 2,346 sqft
    2021-11-01 22 days 2,239 sqft
    2021-12-01 50 days 2,172 sqft
    2022-01-01 57 days 2,165 sqft
    2022-02-01 44 days 2,189 sqft
    2022-03-01 32 days 2,132 sqft
    2022-04-01 35 days 2,206 sqft
    2022-05-01 37 days 2,125 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 2,127 sqft
    2022-10-01 56 days 2,114 sqft
    2022-11-01 60 days 2,120 sqft
    2022-12-01 71 days 2,153 sqft
    2023-01-01 78 days 2,117 sqft
    2023-02-01 74 days 2,112 sqft
    2023-03-01 54 days 2,066 sqft
    2023-04-01 53 days 2,000 sqft
    2023-05-01 59 days 2,008 sqft
    2023-06-01 60 days 2,007 sqft
    2023-07-01 57 days 1,975 sqft
    2023-08-01 56 days 2,006 sqft
    2023-09-01 54 days 2,015 sqft
    2023-10-01 58 days 1,999 sqft
    2023-11-01 65 days 2,010 sqft
    2023-12-01 70 days 2,007 sqft
    2024-01-01 78 days 2,009 sqft
    2024-02-01 77 days 2,028 sqft
    2024-03-01 56 days 2,051 sqft
    2024-04-01 52 days 2,074 sqft
    2024-05-01 52 days 2,116 sqft
    2024-06-01 60 days 2,102 sqft
    2024-07-01 65 days 2,097 sqft
    2024-08-01 65 days 2,057 sqft
    2024-09-01 66 days 2,052 sqft
    2024-10-01 68 days 2,050 sqft
    2024-11-01 73 days 2,009 sqft
    2024-12-01 84 days 1,998 sqft
    2025-01-01 0 days 1,986 sqft
    Jackson's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Jackson's median square footage for active listings during the 2025-01-01 period was 1,986 sqft. One year prior, the average listing was 2,009 sqft.