Knoxville USDA Loan Rates, Closing Costs & Stats

KNOXVILLE, 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.

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 6.38% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

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

The average rate for the prior week (2024-04-05) was 6.4% and one month ago for the week of 2024-03-08, the average rate was 6.36%.

The average rate one year ago was 6.07%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.7%.

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
Knoxville's median listing price for 2024-03-01 was $450,000, a difference of $-19,625 (-4.2%) versus the prior year and $-7,450 versus the prior month.

Knoxville's median listing price comes in at 106% of the national average.

Knoxville's average listing price for 2024-03-01 was $641,744, a difference of $57,986 (9.9%) versus the prior year and $-1,023 versus the prior month.

For the 2024-03-01 period, Knoxville had 1,652 MLS listings, a difference of 16 listings (1%) versus the prior month and 520 listings (46%) 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
Knoxville's median listing age (time on market) for 2024-03-01 was 47 days. This is 4% longer than the same period one year ago.

Knoxville's median square footage for active listings during the 2024-03-01 period was 2,083 sqft. One year prior, the average listing was 2,230 sqft.