Knoxville USDA Loan Rates, Closing Costs & Stats

KNOXVILLE, TN

  • 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.

    Knoxville's 34 lenders originated 147 USDA loans during 2023. The total origination value was $32,245,000, with an average USDA loan value of $219,354.

    Knoxville USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Knoxville averaged 6.28% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

    Knoxville's average USDA mortgage closing costs are $5,456.

    The average rate for the prior week (2024-12-06) was 6.11% and one month ago for the week of 2024-11-08, the average rate was 6.53%.

    The average rate one year ago was 6.5%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.29%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Knoxville 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 Knoxville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MORTGAGE INVESTORS GROUP, INC. 35 6.21% $6,978
    UNITED WHOLESALE MORTGAGE, LLC 13 6.00% $11,001
    FIRST COMMUNITY MORTGAGE, INC. 12 6.10% $7,308
    AMERICAN FINANCIAL RESOURCES, INC. 9 6.39% $8,249
    MOVEMENT MORTGAGE, LLC 8 6.53% $7,950
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 5.88% $6,868
    AMERICAN FINANCIAL NETWORK, INC. 6 6.60% $3,468
    DHI MORTGAGE COMPANY, LTD. 5 6.20% $5,660
    Equity Prime Mortgage LLC 5 6.55% $12,670
    CARDINAL FINANCIAL 4 6.84% $9,882
    Gateway First Bank 4 6.53% $7,110
    UNION HOME MORTGAGE CORP. 3 6.17% $9,000
    EVERETT FINANCIAL, INC. 3 6.96% $3,912
    Renasant Bank 3 6.33% $5,865
    Sierra Pacific Mortgage Company, Inc. 3 6.38% $9,545
    CMG MORTGAGE, INC. 3 6.08% $8,482
    MID AMERICA MORTGAGE, INC. 3 6.79% $7,832
    LOANDEPOT.COM, LLC 2 5.94% $9,093
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.75% $5,411
    STOCKTON MORTGAGE CORPORATION 2 6.69% $6,696
    Northpointe Bank 2 5.44% $7,902
    VAN DYK MORTGAGE CORPORATION 1 7.00% $1,616
    Century Mortgage Company DBA Century Lending Company 1 6.00% $6,588
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $11,337
    First Horizon Bank 1 5.50% $4,750
    Mortgage Research Center, LLC 1 6.75% $6,881
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.63% $6,511
    NEWREZ LLC 1 6.75% $5,210
    NFM, INC. 1 5.50% $3,414
    Paramount Residential Mortgage Group, Inc. 1 6.38% $9,509
    POLARIS HOME FUNDING CORP. 1 7.63% $8,696
    Regions Bank 1 6.25% $9,593
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.00% $11,096
    AMCAP MORTGAGE, LTD. 1 6.25% $5,743

    The top Knoxville USDA lender as defined by loan originations is MORTGAGE INVESTORS GROUP, INC., with 35 USDA loans originated. Their average total fees are $6,978, which is $4,023 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Knoxville USDA lenders (with over 10 loans originated) are MORTGAGE INVESTORS GROUP, INC. ($6,978), FIRST COMMUNITY MORTGAGE, INC. ($7,308), UNITED WHOLESALE MORTGAGE, LLC ($11,001), .

    The lowest rate Knoxville USDA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.00%), FIRST COMMUNITY MORTGAGE, INC. (6.10%), MORTGAGE INVESTORS GROUP, INC. (6.21%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Knoxville (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 $250,710 (14.0%) $347,981 (10.1%) 0.93 3,368
    2018-02-01 $254,130 (11.0%) $353,616 (9.6%) 0.92 3,181
    2018-03-01 $265,000 (12.4%) $374,873 (13.4%) 0.93 3,145
    2018-04-01 $275,450 (10.2%) $383,394 (10.7%) 0.93 3,191
    2018-05-01 $279,900 (12.0%) $391,135 (12.2%) 0.93 3,258
    2018-06-01 $279,900 (12.0%) $391,548 (13.0%) 0.93 3,361
    2018-07-01 $274,900 (10.0%) $386,225 (11.6%) 0.92 3,569
    2018-08-01 $269,900 (8.0%) $379,696 (5.1%) 0.90 3,622
    2018-09-01 $267,700 (5.0%) $377,145 (4.0%) 0.90 3,658
    2018-10-01 $262,450 (5.0%) $376,717 (7.0%) 0.89 3,666
    2018-11-01 $264,675 (3.7%) $382,763 (9.6%) 0.90 3,505
    2018-12-01 $260,000 (4.0%) $376,296 (8.5%) 0.90 3,273
    2019-01-01 $267,000 (6.5%) $377,704 (8.5%) 0.92 2,978
    2019-02-01 $269,675 (6.1%) $381,865 (8.0%) 0.91 2,895
    2019-03-01 $278,500 (5.1%) $385,815 (2.9%) 0.91 2,877
    2019-04-01 $292,450 (6.2%) $391,332 (2.1%) 0.93 2,863
    2019-05-01 $299,338 (6.9%) $396,624 (1.4%) 0.94 2,890
    2019-06-01 $299,900 (7.2%) $398,428 (1.8%) 0.94 2,970
    2019-07-01 $299,900 (9.1%) $405,134 (4.9%) 0.94 2,962
    2019-08-01 $295,809 (9.6%) $403,170 (6.2%) 0.94 2,992
    2019-09-01 $289,673 (8.2%) $396,205 (5.1%) 0.93 3,019
    2019-10-01 $285,000 (8.6%) $391,063 (3.8%) 0.92 3,016
    2019-11-01 $285,000 (7.7%) $398,829 (4.2%) 0.93 2,903
    2019-12-01 $283,325 (9.0%) $397,309 (5.6%) 0.94 2,679
    2020-01-01 $280,774 (5.2%) $405,506 (7.4%) 0.94 2,428
    2020-02-01 $287,000 (6.4%) $413,781 (8.4%) 0.94 2,275
    2020-03-01 $302,450 (8.6%) $424,088 (9.9%) 0.95 2,139
    2020-04-01 $299,950 (2.6%) $413,846 (5.8%) 0.94 2,257
    2020-05-01 $311,750 (4.2%) $429,515 (8.3%) 0.95 2,142
    2020-06-01 $324,975 (8.4%) $445,896 (11.9%) 0.96 1,915
    2020-07-01 $329,900 (10.0%) $453,820 (12.0%) 0.96 1,706
    2020-08-01 $329,950 (11.5%) $445,692 (10.6%) 0.95 1,595
    2020-09-01 $322,450 (11.3%) $441,555 (11.5%) 0.92 1,462
    2020-10-01 $319,900 (12.3%) $441,092 (12.8%) 0.92 1,469
    2020-11-01 $310,000 (8.8%) $442,136 (10.9%) 0.91 1,494
    2020-12-01 $301,974 (6.6%) $435,600 (9.6%) 0.90 1,308
    2021-01-01 $312,423 (11.3%) $447,938 (10.5%) 0.93 1,107
    2021-02-01 $310,000 (8.0%) $460,937 (11.4%) 0.90 836
    2021-03-01 $307,495 (1.7%) $469,664 (10.8%) 0.87 719
    2021-04-01 $327,450 (9.2%) $484,829 (17.2%) 0.89 655
    2021-05-01 $335,000 (7.5%) $479,752 (11.7%) 0.89 743
    2021-06-01 $340,675 (4.8%) $479,017 (7.4%) 0.90 884
    2021-07-01 $325,000 (-1.5%) $460,289 (1.4%) 0.86 1,009
    2021-08-01 $329,950 (0.0%) $479,951 (7.7%) 0.88 1,121
    2021-09-01 $328,725 (2.0%) $484,328 (9.7%) 0.88 1,114
    2021-10-01 $325,000 (1.6%) $488,442 (10.7%) 0.87 1,127
    2021-11-01 $332,450 (7.2%) $507,093 (14.7%) 0.89 1,004
    2021-12-01 $339,675 (12.5%) $516,086 (18.5%) 0.92 836
    2022-01-01 $350,000 (12.0%) $542,330 (21.1%) 0.95 692
    2022-02-01 $375,000 (21.0%) $553,780 (20.1%) 0.98 590
    2022-03-01 $367,725 (19.6%) $544,670 (16.0%) 0.92 666
    2022-04-01 $389,000 (18.8%) $548,033 (13.0%) 0.93 753
    2022-05-01 $399,950 (19.4%) $567,467 (18.3%) 0.91 1,006
    2022-06-01 $400,000 (17.4%) $549,180 (14.7%) 0.89 1,287
    2022-07-01 $415,000 (27.7%) $541,012 (17.5%) 0.93 1,537
    2022-08-01 $413,725 (25.4%) $546,739 (13.9%) 0.96 1,604
    2022-09-01 $423,675 (28.9%) $555,996 (14.8%) 0.99 1,657
    2022-10-01 $425,000 (30.8%) $548,086 (12.2%) 1.00 1,749
    2022-11-01 $425,000 (27.8%) $546,698 (7.8%) 1.02 1,789
    2022-12-01 $429,900 (26.6%) $553,001 (7.2%) 1.06 1,534
    2023-01-01 $440,088 (25.7%) $556,593 (2.6%) 1.09 1,368
    2023-02-01 $457,116 (21.9%) $571,793 (3.3%) 1.10 1,184
    2023-03-01 $469,625 (27.7%) $583,758 (7.2%) 1.11 1,132
    2023-04-01 $480,000 (23.4%) $613,870 (12.0%) 1.12 1,074
    2023-05-01 $484,925 (21.3%) $641,597 (13.1%) 1.10 1,115
    2023-06-01 $475,000 (18.8%) $657,687 (19.8%) 1.07 1,236
    2023-07-01 $475,000 (14.5%) $660,471 (22.1%) 1.08 1,384
    2023-08-01 $481,225 (16.3%) $672,121 (22.9%) 1.11 1,486
    2023-09-01 $475,000 (12.1%) $672,754 (21.0%) 1.11 1,608
    2023-10-01 $474,002 (11.5%) $644,660 (17.6%) 1.12 1,854
    2023-11-01 $462,338 (8.8%) $637,975 (16.7%) 1.10 1,957
    2023-12-01 $459,900 (7.0%) $623,601 (12.8%) 1.12 1,947
    2024-01-01 $457,725 (4.0%) $630,485 (13.3%) 1.12 1,797
    2024-02-01 $457,450 (0.1%) $642,767 (12.4%) 1.10 1,636
    2024-03-01 $450,000 (-4.2%) $641,744 (9.9%) 1.06 1,652
    2024-04-01 $462,975 (-3.6%) $659,604 (7.5%) 1.08 1,728
    2024-05-01 $492,500 (1.6%) $686,688 (7.0%) 1.11 1,889
    2024-06-01 $475,000 (0.0%) $666,681 (1.4%) 1.07 2,084
    2024-07-01 $468,987 (-1.3%) $629,259 (-4.7%) 1.07 2,292
    2024-08-01 $466,000 (-3.2%) $622,577 (-7.4%) 1.08 2,427
    2024-09-01 $454,950 (-4.2%) $610,126 (-9.3%) 1.07 2,553
    2024-10-01 $452,450 (-4.6%) $606,165 (-6.0%) 1.06 2,618
    2024-11-01 $449,999 (-2.7%) $606,703 (-4.9%) 1.08 2,793
    Knoxville's median listing price for 2024-11-01 was $449,999, a difference of $-12,339 (-2.7%) versus the prior year and $-2,451 versus the prior month.

    Knoxville's median listing price comes in at 108% of the national average.

    Knoxville's average listing price for 2024-11-01 was $606,703, a difference of $-31,272 (-4.9%) versus the prior year and $538 versus the prior month.

    For the 2024-11-01 period, Knoxville had 2,793 MLS listings, a difference of 175 listings (7%) versus the prior month and 836 listings (43%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Knoxville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 86 days 2,202 sqft
    2018-02-01 82 days 2,207 sqft
    2018-03-01 66 days 2,272 sqft
    2018-04-01 56 days 2,307 sqft
    2018-05-01 53 days 2,330 sqft
    2018-06-01 55 days 2,321 sqft
    2018-07-01 57 days 2,320 sqft
    2018-08-01 59 days 2,289 sqft
    2018-09-01 63 days 2,269 sqft
    2018-10-01 67 days 2,272 sqft
    2018-11-01 71 days 2,282 sqft
    2018-12-01 78 days 2,241 sqft
    2019-01-01 85 days 2,231 sqft
    2019-02-01 78 days 2,220 sqft
    2019-03-01 66 days 2,264 sqft
    2019-04-01 57 days 2,332 sqft
    2019-05-01 54 days 2,367 sqft
    2019-06-01 57 days 2,388 sqft
    2019-07-01 59 days 2,400 sqft
    2019-08-01 59 days 2,368 sqft
    2019-09-01 60 days 2,320 sqft
    2019-10-01 61 days 2,289 sqft
    2019-11-01 64 days 2,250 sqft
    2019-12-01 74 days 2,223 sqft
    2020-01-01 84 days 2,201 sqft
    2020-02-01 75 days 2,220 sqft
    2020-03-01 58 days 2,269 sqft
    2020-04-01 56 days 2,291 sqft
    2020-05-01 60 days 2,300 sqft
    2020-06-01 58 days 2,309 sqft
    2020-07-01 54 days 2,329 sqft
    2020-08-01 50 days 2,261 sqft
    2020-09-01 50 days 2,225 sqft
    2020-10-01 46 days 2,200 sqft
    2020-11-01 47 days 2,134 sqft
    2020-12-01 55 days 2,081 sqft
    2021-01-01 68 days 2,086 sqft
    2021-02-01 75 days 2,061 sqft
    2021-03-01 46 days 2,003 sqft
    2021-04-01 42 days 2,056 sqft
    2021-05-01 32 days 2,056 sqft
    2021-06-01 32 days 2,083 sqft
    2021-07-01 35 days 2,007 sqft
    2021-08-01 35 days 2,004 sqft
    2021-09-01 39 days 1,994 sqft
    2021-10-01 39 days 1,985 sqft
    2021-11-01 42 days 1,984 sqft
    2021-12-01 46 days 1,978 sqft
    2022-01-01 49 days 2,000 sqft
    2022-02-01 36 days 2,011 sqft
    2022-03-01 27 days 1,983 sqft
    2022-04-01 25 days 2,031 sqft
    2022-05-01 25 days 2,070 sqft
    2022-06-01 28 days 2,117 sqft
    2022-07-01 32 days 2,148 sqft
    2022-08-01 37 days 2,105 sqft
    2022-09-01 41 days 2,127 sqft
    2022-10-01 43 days 2,157 sqft
    2022-11-01 48 days 2,178 sqft
    2022-12-01 59 days 2,182 sqft
    2023-01-01 67 days 2,208 sqft
    2023-02-01 53 days 2,243 sqft
    2023-03-01 45 days 2,230 sqft
    2023-04-01 39 days 2,221 sqft
    2023-05-01 36 days 2,250 sqft
    2023-06-01 36 days 2,237 sqft
    2023-07-01 35 days 2,228 sqft
    2023-08-01 40 days 2,232 sqft
    2023-09-01 42 days 2,200 sqft
    2023-10-01 40 days 2,216 sqft
    2023-11-01 44 days 2,202 sqft
    2023-12-01 54 days 2,169 sqft
    2024-01-01 67 days 2,149 sqft
    2024-02-01 64 days 2,118 sqft
    2024-03-01 47 days 2,083 sqft
    2024-04-01 43 days 2,108 sqft
    2024-05-01 38 days 2,173 sqft
    2024-06-01 40 days 2,151 sqft
    2024-07-01 44 days 2,150 sqft
    2024-08-01 46 days 2,152 sqft
    2024-09-01 51 days 2,143 sqft
    2024-10-01 52 days 2,121 sqft
    2024-11-01 55 days 2,091 sqft
    Knoxville's median listing age (time on market) for 2024-11-01 was 55 days. This is 25% longer than the same period one year ago.

    Knoxville's median square footage for active listings during the 2024-11-01 period was 2,091 sqft. One year prior, the average listing was 2,202 sqft.