Jackson USDA Loan Rates, Closing Costs & Stats

JACKSON, TN

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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.

    Jackson's 21 lenders originated 94 USDA loans during 2023. The total origination value was $15,970,000, with an average USDA loan value of $169,894.

    Jackson USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Jackson averaged 0.09% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    Jackson's average USDA mortgage closing costs are $4,435.

    The average rate for the prior week (2024-11-08) was 6.24% and one month ago for the week of 2024-10-11, the average rate was 5.91%.

    The average rate one year ago was 7.03%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.01%.

    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
    Leaders Credit Union 27 6.32% $3,980
    MORTGAGE INVESTORS GROUP, INC. 9 6.39% $6,261
    FIRST COMMUNITY MORTGAGE, INC. 9 6.21% $7,551
    STOCKTON MORTGAGE CORPORATION 6 6.56% $9,007
    UNITED WHOLESALE MORTGAGE, LLC 5 6.73% $8,979
    Simmons Bank 3 6.83% $4,786
    Regions Bank 3 6.58% $3,377
    First Citizens National Bank 3 5.67% $6,675
    Bank of England 2 6.63% $7,627
    Equity Prime Mortgage LLC 2 6.81% $5,800
    FirstBank 2 6.69% $6,066
    MID AMERICA MORTGAGE, INC. 2 7.13% $5,846
    The First National Bank of Middle Tennessee 2 5.94% $5,701
    NP, Inc. 1 7.13% $6,889
    Paramount Residential Mortgage Group, Inc. 1 6.88% $6,415
    HOMESIDE FINANCIAL, LLC 1 7.13% $7,568
    EVERETT FINANCIAL, INC. 1 6.88% $7,695
    COMMUNITY MORTGAGE CORPORATION 1 6.25% $6,276
    CARDINAL FINANCIAL 1 6.75% $12,289
    UNION HOME MORTGAGE CORP. 1 6.63% $9,498
    Legends Bank 1 6.25% $4,276

    The top Jackson USDA lender as defined by loan originations is Leaders Credit Union, with 27 USDA loans originated. Their average total fees are $3,980, which is $2,281 lower than the next largest lender, MORTGAGE INVESTORS GROUP, INC..

    The lowest fee Jackson USDA lenders (with over 10 loans originated) are Leaders Credit Union ($3,980), .

    The lowest rate Jackson USDA lenders (with over 10 loans originated) are Leaders Credit Union (6.32%), .

    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 $129,900 (11.1%) $178,863 (13.0%) 0.00 657
    2018-02-01 $127,900 (9.6%) $178,849 (13.8%) 0.00 652
    2018-03-01 $133,000 (13.9%) $183,765 (16.2%) 0.00 644
    2018-04-01 $132,400 (14.9%) $182,614 (16.6%) 0.00 599
    2018-05-01 $132,975 (10.9%) $190,763 (18.1%) 0.00 604
    2018-06-01 $132,450 (6.0%) $187,285 (13.9%) 0.00 623
    2018-07-01 $139,450 (8.9%) $188,503 (13.1%) 0.00 648
    2018-08-01 $142,450 (12.7%) $193,408 (15.8%) 0.00 679
    2018-09-01 $139,999 (8.1%) $191,191 (9.3%) 0.00 695
    2018-10-01 $135,450 (5.5%) $185,089 (4.0%) 0.00 726
    2018-11-01 $139,325 (8.3%) $185,963 (5.2%) 0.00 711
    2018-12-01 $137,500 (5.9%) $184,855 (3.5%) 0.00 637
    2019-01-01 $139,900 (7.7%) $186,838 (4.5%) 0.00 580
    2019-02-01 $141,925 (11.0%) $190,278 (6.4%) 0.00 539
    2019-03-01 $148,186 (11.4%) $195,823 (6.6%) 0.00 531
    2019-04-01 $153,438 (15.9%) $203,194 (11.3%) 0.00 533
    2019-05-01 $165,900 (24.8%) $212,939 (11.6%) 0.00 530
    2019-06-01 $164,900 (24.5%) $210,393 (12.3%) 0.00 556
    2019-07-01 $152,900 (9.7%) $202,878 (7.6%) 0.00 582
    2019-08-01 $144,509 (1.5%) $195,760 (1.2%) 0.00 597
    2019-09-01 $147,598 (5.4%) $196,475 (2.8%) 0.00 607
    2019-10-01 $149,975 (10.7%) $197,458 (6.7%) 0.00 613
    2019-11-01 $154,900 (11.2%) $200,066 (7.6%) 0.00 585
    2019-12-01 $156,900 (14.1%) $201,438 (9.0%) 0.00 503
    2020-01-01 $149,975 (7.2%) $198,804 (6.4%) 0.00 482
    2020-02-01 $154,900 (9.1%) $200,752 (5.5%) 0.00 438
    2020-03-01 $159,375 (7.6%) $205,129 (4.8%) 0.00 455
    2020-04-01 $165,925 (8.1%) $208,242 (2.5%) 0.00 459
    2020-05-01 $169,000 (1.9%) $210,491 (-1.2%) 0.00 412
    2020-06-01 $174,675 (5.9%) $219,883 (4.5%) 0.00 358
    2020-07-01 $177,450 (16.1%) $223,953 (10.4%) 0.00 336
    2020-08-01 $179,900 (24.5%) $226,178 (15.5%) 0.00 306
    2020-09-01 $179,900 (21.9%) $233,286 (18.7%) 0.00 277
    2020-10-01 $175,000 (16.7%) $236,913 (20.0%) 0.00 248
    2020-11-01 $169,900 (9.7%) $239,191 (19.6%) 0.00 261
    2020-12-01 $184,500 (17.6%) $250,931 (24.6%) 0.00 241
    2021-01-01 $182,400 (21.6%) $263,285 (32.4%) 0.00 198
    2021-02-01 $179,600 (16.0%) $273,387 (36.2%) 0.00 156
    2021-03-01 $169,225 (6.2%) $248,708 (21.2%) 0.00 139
    2021-04-01 $173,700 (4.7%) $245,756 (18.0%) 0.00 127
    2021-05-01 $169,900 (0.5%) $260,591 (23.8%) 0.00 134
    2021-06-01 $180,725 (3.5%) $269,887 (22.7%) 0.00 149
    2021-07-01 $195,000 (9.9%) $266,873 (19.2%) 0.00 176
    2021-08-01 $202,450 (12.5%) $262,580 (16.1%) 0.00 194
    2021-09-01 $194,750 (8.3%) $256,756 (10.1%) 0.00 210
    2021-10-01 $197,450 (12.8%) $258,848 (9.3%) 0.00 210
    2021-11-01 $199,450 (17.4%) $262,304 (9.7%) 0.00 208
    2021-12-01 $199,900 (8.4%) $256,616 (2.3%) 0.00 211
    2022-01-01 $199,000 (9.1%) $259,920 (-1.3%) 0.00 186
    2022-02-01 $182,325 (1.5%) $245,486 (-10.2%) 0.00 173
    2022-03-01 $184,675 (9.1%) $244,403 (-1.7%) 0.00 163
    2022-04-01 $199,900 (15.1%) $253,242 (3.1%) 0.00 170
    2022-05-01 $232,350 (36.8%) $281,072 (7.9%) 0.00 179
    2022-06-01 $224,950 (24.5%) $289,044 (7.1%) 0.00 228
    2022-07-01 $242,500 (24.4%) $296,127 (11.0%) 0.00 291
    2022-08-01 $249,450 (23.2%) $303,280 (15.5%) 0.00 298
    2022-09-01 $264,175 (35.7%) $310,675 (21.0%) 0.00 340
    2022-10-01 $269,000 (36.2%) $316,963 (22.5%) 0.00 364
    2022-11-01 $264,900 (32.8%) $313,672 (19.6%) 0.00 370
    2022-12-01 $264,900 (32.5%) $319,994 (24.7%) 0.00 350
    2023-01-01 $269,450 (35.4%) $328,924 (26.6%) 0.00 336
    2023-02-01 $274,900 (50.8%) $333,327 (35.8%) 0.00 307
    2023-03-01 $293,225 (58.8%) $334,448 (36.8%) 0.00 302
    2023-04-01 $295,000 (47.6%) $340,243 (34.4%) 0.00 290
    2023-05-01 $300,450 (29.3%) $351,314 (25.0%) 0.00 280
    2023-06-01 $309,675 (37.7%) $361,631 (25.1%) 0.00 294
    2023-07-01 $299,950 (23.7%) $363,434 (22.7%) 0.00 319
    2023-08-01 $298,950 (19.8%) $370,055 (22.0%) 0.00 311
    2023-09-01 $299,000 (13.2%) $382,510 (23.1%) 0.00 314
    2023-10-01 $294,350 (9.4%) $367,475 (15.9%) 0.00 376
    2023-11-01 $289,900 (9.4%) $361,853 (15.4%) 0.00 386
    2023-12-01 $289,900 (9.4%) $338,844 (5.9%) 0.00 397
    2024-01-01 $285,150 (5.8%) $332,953 (1.2%) 0.00 384
    2024-02-01 $287,400 (4.6%) $337,634 (1.3%) 0.00 369
    2024-03-01 $297,900 (1.6%) $348,410 (4.2%) 0.00 377
    2024-04-01 $299,900 (1.7%) $361,073 (6.1%) 0.00 404
    2024-05-01 $304,950 (1.5%) $366,458 (4.3%) 0.00 422
    2024-06-01 $300,000 (-3.1%) $363,149 (0.4%) 0.00 449
    2024-07-01 $299,900 (0.0%) $362,759 (-0.2%) 0.00 486
    2024-08-01 $299,900 (0.3%) $363,895 (-1.7%) 0.00 511
    2024-09-01 $296,225 (-0.9%) $352,828 (-7.8%) 0.00 582
    2024-10-01 $289,900 (-1.5%) $355,120 (-3.4%) 0.00 574
    Jackson's median listing price for 2024-10-01 was $289,900, a difference of $-4,450 (-1.5%) versus the prior year and $-6,325 versus the prior month.

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

    Jackson's average listing price for 2024-10-01 was $355,120, a difference of $-12,355 (-3.4%) versus the prior year and $2,292 versus the prior month.

    For the 2024-10-01 period, Jackson had 574 MLS listings, a difference of -8 listings (-1%) versus the prior month and 198 listings (53%) 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 0 days 1,864 sqft
    2018-02-01 0 days 1,840 sqft
    2018-03-01 0 days 1,883 sqft
    2018-04-01 0 days 1,866 sqft
    2018-05-01 0 days 1,889 sqft
    2018-06-01 0 days 1,850 sqft
    2018-07-01 0 days 1,863 sqft
    2018-08-01 0 days 1,938 sqft
    2018-09-01 0 days 1,972 sqft
    2018-10-01 0 days 1,883 sqft
    2018-11-01 0 days 1,881 sqft
    2018-12-01 0 days 1,904 sqft
    2019-01-01 0 days 1,878 sqft
    2019-02-01 0 days 1,881 sqft
    2019-03-01 0 days 1,889 sqft
    2019-04-01 0 days 1,911 sqft
    2019-05-01 0 days 2,016 sqft
    2019-06-01 0 days 1,964 sqft
    2019-07-01 0 days 1,913 sqft
    2019-08-01 0 days 1,873 sqft
    2019-09-01 0 days 1,865 sqft
    2019-10-01 0 days 1,859 sqft
    2019-11-01 0 days 1,894 sqft
    2019-12-01 0 days 1,891 sqft
    2020-01-01 0 days 1,868 sqft
    2020-02-01 0 days 1,926 sqft
    2020-03-01 0 days 1,917 sqft
    2020-04-01 0 days 1,953 sqft
    2020-05-01 0 days 1,956 sqft
    2020-06-01 0 days 1,981 sqft
    2020-07-01 0 days 2,003 sqft
    2020-08-01 0 days 1,965 sqft
    2020-09-01 0 days 1,967 sqft
    2020-10-01 0 days 1,938 sqft
    2020-11-01 0 days 1,981 sqft
    2020-12-01 0 days 1,958 sqft
    2021-01-01 0 days 1,950 sqft
    2021-02-01 0 days 1,940 sqft
    2021-03-01 0 days 1,779 sqft
    2021-04-01 0 days 1,870 sqft
    2021-05-01 0 days 1,852 sqft
    2021-06-01 0 days 1,746 sqft
    2021-07-01 0 days 1,810 sqft
    2021-08-01 0 days 1,818 sqft
    2021-09-01 0 days 1,821 sqft
    2021-10-01 0 days 1,800 sqft
    2021-11-01 0 days 1,726 sqft
    2021-12-01 0 days 1,718 sqft
    2022-01-01 0 days 1,714 sqft
    2022-02-01 0 days 1,665 sqft
    2022-03-01 0 days 1,683 sqft
    2022-04-01 0 days 1,726 sqft
    2022-05-01 0 days 1,753 sqft
    2022-06-01 0 days 1,808 sqft
    2022-07-01 0 days 1,901 sqft
    2022-08-01 0 days 1,892 sqft
    2022-09-01 0 days 1,890 sqft
    2022-10-01 0 days 1,919 sqft
    2022-11-01 0 days 1,991 sqft
    2022-12-01 0 days 1,961 sqft
    2023-01-01 0 days 1,924 sqft
    2023-02-01 0 days 1,917 sqft
    2023-03-01 0 days 1,965 sqft
    2023-04-01 0 days 1,962 sqft
    2023-05-01 0 days 1,975 sqft
    2023-06-01 0 days 2,063 sqft
    2023-07-01 0 days 2,061 sqft
    2023-08-01 0 days 2,077 sqft
    2023-09-01 0 days 2,000 sqft
    2023-10-01 0 days 1,969 sqft
    2023-11-01 0 days 1,933 sqft
    2023-12-01 0 days 1,911 sqft
    2024-01-01 0 days 1,896 sqft
    2024-02-01 0 days 1,897 sqft
    2024-03-01 0 days 1,988 sqft
    2024-04-01 0 days 2,016 sqft
    2024-05-01 0 days 2,077 sqft
    2024-06-01 0 days 2,061 sqft
    2024-07-01 0 days 2,031 sqft
    2024-08-01 0 days 2,055 sqft
    2024-09-01 0 days 1,979 sqft
    2024-10-01 0 days 1,926 sqft
    Jackson's median listing age (time on market) for 2024-10-01 was 0 days.

    Jackson's median square footage for active listings during the 2024-10-01 period was 1,926 sqft. One year prior, the average listing was 1,969 sqft.