Jackson USDA Loan Rates, Closing Costs & Stats
JACKSON, TN
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
6.02%
for the week of 2024-12-06, compared to the national average (all USDA variants) of
6.328% for the same period.
Jackson's average USDA mortgage closing costs are $4,435.
The average rate for the prior week (2024-11-29) was
6.59% and
one month ago for the week of 2024-11-01, the
average rate was 6.24%.
The average rate one year ago was 6.86%.
For refis of the same type during the week of 2024-12-06, the average rate
was 6.62%.
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. LouisDate | 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 |
2024-11-01 | $284,740 (-1.8%) | $370,273 (2.3%) | 0.00 | 563 |
Jackson's median listing price comes in at 0% of the national average.
Jackson's average listing price for 2024-11-01 was $370,273, a difference of $8,420 (2.3%) versus the prior year and $15,153 versus the prior month.
For the 2024-11-01 period, Jackson had 563 MLS listings, a difference of -11 listings (-2%) versus the prior month and 177 listings (46%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Jackson (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 |
2024-11-01 | 0 days | 1,915 sqft |
Jackson's median square footage for active listings during the 2024-11-01 period was 1,915 sqft. One year prior, the average listing was 1,933 sqft.