Johnson City USDA Loan Rates, Closing Costs & Stats
JOHNSON CITY, 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.
Johnson City's 20 lenders originated 33 USDA loans during 2023. The total origination value was $6,805,000, with an average USDA loan value of $206,212.
Johnson City USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Johnson City
averaged
6.76%
for the week of 2024-07-19, compared to the national average (all USDA variants) of
6.628% for the same period.
Johnson City's average USDA mortgage closing costs are $5,134.
The average rate for the prior week (2024-07-12) was
6.78% and
one month ago for the week of 2024-06-14, the
average rate was 6.92%.
The average rate one year ago was 6.57%.
For refis of the same type during the week of 2024-07-19, the average rate
was 6.57%.
Johnson City 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 Johnson City level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| CARDINAL FINANCIAL | 3 | 6.21% | $8,791 |
| AMERICAN FINANCIAL RESOURCES, INC. | 3 | 6.21% | $9,702 |
| Sierra Pacific Mortgage Company, Inc. | 3 | 6.79% | $9,204 |
| Regions Bank | 2 | 6.00% | $6,427 |
| FIRST COMMUNITY MORTGAGE, INC. | 2 | 6.38% | $5,122 |
| GUARANTEED RATE, INC. | 2 | 5.80% | $9,082 |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | 2 | 7.13% | $3,770 |
| UNITED WHOLESALE MORTGAGE, LLC | 2 | 6.24% | $11,595 |
| MORTGAGE INVESTORS GROUP, INC. | 2 | 6.56% | $7,900 |
| MOVEMENT MORTGAGE, LLC | 2 | 6.75% | $5,023 |
| KELLER MORTGAGE, LLC | 1 | 5.63% | $6,247 |
| AXIA FINANCIAL, LLC | 1 | 6.63% | $5,301 |
| EASTMAN | 1 | 6.88% | $6,304 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.25% | $2,707 |
| First Horizon Bank | 1 | 6.63% | $5,312 |
| ALAMEDA MORTGAGE CORPORATION | 1 | 6.88% | $10,309 |
| ROSS MORTGAGE CORPORATION | 1 | 7.38% | $8,434 |
| SECURITYNATIONAL MORTGAGE COMPANY | 1 | 6.63% | $7,277 |
| STOCKTON MORTGAGE CORPORATION | 1 | 5.88% | $8,611 |
| Truist | 1 | 6.25% | $5,183 |
The top Johnson City USDA lender as defined by loan originations is CARDINAL FINANCIAL, with
3 USDA loans originated. Their average total fees are
$8,791, which is $911
lower than the next largest lender,
AMERICAN FINANCIAL RESOURCES, INC..
The lowest fee Johnson City USDA lenders (with over 10 loans originated) are
.
The lowest rate Johnson City USDA lenders (with over 10 loans originated) are
.