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%.

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
2024-11-01 $284,740 (-1.8%) $370,273 (2.3%) 0.00 563
Jackson's median listing price for 2024-11-01 was $284,740, a difference of $-5,160 (-1.8%) versus the prior year and $-5,160 versus the prior month.

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. 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
2024-11-01 0 days 1,915 sqft
Jackson's median listing age (time on market) for 2024-11-01 was 0 days.

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.