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 6.2% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

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

    The average rate for the prior week (2025-02-07) was 6.46% and one month ago for the week of 2025-01-10, the average rate was 6.41%.

    The average rate one year ago was 6.4%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.42%.

    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 $249,900 (13.6%) $346,453 (10.4%) 0.93 3,472
    2018-02-01 $250,000 (10.8%) $351,699 (9.7%) 0.92 3,282
    2018-03-01 $264,900 (14.0%) $372,486 (13.3%) 0.93 3,243
    2018-04-01 $274,900 (10.4%) $380,424 (10.6%) 0.93 3,292
    2018-05-01 $279,600 (11.9%) $387,875 (12.0%) 0.93 3,371
    2018-06-01 $279,000 (11.6%) $388,618 (12.9%) 0.93 3,471
    2018-07-01 $271,250 (8.5%) $383,909 (11.6%) 0.92 3,675
    2018-08-01 $269,900 (8.0%) $377,511 (5.1%) 0.90 3,730
    2018-09-01 $265,000 (6.0%) $374,700 (3.9%) 0.90 3,777
    2018-10-01 $262,250 (4.9%) $374,023 (6.7%) 0.89 3,777
    2018-11-01 $260,000 (3.2%) $379,917 (9.2%) 0.90 3,608
    2018-12-01 $259,975 (4.0%) $373,580 (8.1%) 0.90 3,366
    2019-01-01 $263,449 (5.4%) $375,038 (8.3%) 0.92 3,053
    2019-02-01 $267,225 (6.9%) $379,270 (7.8%) 0.91 2,976
    2019-03-01 $278,471 (5.1%) $384,032 (3.1%) 0.91 2,954
    2019-04-01 $291,950 (6.2%) $389,403 (2.4%) 0.93 2,946
    2019-05-01 $297,225 (6.3%) $394,354 (1.7%) 0.94 2,974
    2019-06-01 $299,500 (7.4%) $396,933 (2.1%) 0.94 3,049
    2019-07-01 $299,900 (10.6%) $403,278 (5.1%) 0.94 3,035
    2019-08-01 $295,755 (9.6%) $401,406 (6.3%) 0.94 3,072
    2019-09-01 $289,536 (9.3%) $394,299 (5.2%) 0.93 3,107
    2019-10-01 $284,900 (8.6%) $389,376 (4.1%) 0.92 3,106
    2019-11-01 $284,900 (9.6%) $397,068 (4.5%) 0.93 2,992
    2019-12-01 $282,266 (8.6%) $396,003 (6.0%) 0.94 2,756
    2020-01-01 $279,950 (6.3%) $403,969 (7.7%) 0.94 2,496
    2020-02-01 $285,000 (6.7%) $412,457 (8.8%) 0.94 2,334
    2020-03-01 $299,950 (7.7%) $421,559 (9.8%) 0.95 2,203
    2020-04-01 $299,950 (2.7%) $413,176 (6.1%) 0.94 2,316
    2020-05-01 $310,000 (4.3%) $427,524 (8.4%) 0.95 2,198
    2020-06-01 $324,900 (8.5%) $445,025 (12.1%) 0.96 1,968
    2020-07-01 $329,900 (10.0%) $452,669 (12.3%) 0.96 1,755
    2020-08-01 $329,999 (11.6%) $444,950 (10.9%) 0.95 1,637
    2020-09-01 $322,950 (11.5%) $440,686 (11.8%) 0.92 1,501
    2020-10-01 $319,900 (12.3%) $441,539 (13.4%) 0.92 1,505
    2020-11-01 $310,000 (8.8%) $440,996 (11.1%) 0.91 1,537
    2020-12-01 $301,273 (6.7%) $435,457 (10.0%) 0.90 1,344
    2021-01-01 $312,423 (11.6%) $448,070 (10.9%) 0.93 1,135
    2021-02-01 $309,900 (8.7%) $457,918 (11.0%) 0.90 858
    2021-03-01 $309,945 (3.3%) $468,070 (11.0%) 0.87 744
    2021-04-01 $329,450 (9.8%) $484,842 (17.4%) 0.89 679
    2021-05-01 $339,376 (9.5%) $481,525 (12.6%) 0.89 769
    2021-06-01 $343,550 (5.7%) $481,311 (8.2%) 0.90 911
    2021-07-01 $325,000 (-1.5%) $461,970 (2.1%) 0.86 1,043
    2021-08-01 $330,831 (0.3%) $480,613 (8.0%) 0.88 1,161
    2021-09-01 $329,675 (2.1%) $483,955 (9.8%) 0.88 1,159
    2021-10-01 $325,000 (1.6%) $487,894 (10.5%) 0.87 1,171
    2021-11-01 $333,050 (7.4%) $506,391 (14.8%) 0.89 1,046
    2021-12-01 $340,000 (12.9%) $515,896 (18.5%) 0.92 869
    2022-01-01 $350,000 (12.0%) $538,574 (20.2%) 0.95 722
    2022-02-01 $375,000 (21.0%) $551,206 (20.4%) 0.98 614
    2022-03-01 $371,500 (19.9%) $544,334 (16.3%) 0.92 695
    2022-04-01 $389,900 (18.4%) $548,189 (13.1%) 0.93 788
    2022-05-01 $399,950 (17.9%) $566,696 (17.7%) 0.91 1,046
    2022-06-01 $402,500 (17.2%) $548,005 (13.9%) 0.89 1,329
    2022-07-01 $415,000 (27.7%) $539,841 (16.9%) 0.93 1,586
    2022-08-01 $413,725 (25.1%) $545,408 (13.5%) 0.96 1,654
    2022-09-01 $422,475 (28.2%) $554,424 (14.6%) 0.99 1,710
    2022-10-01 $424,900 (30.7%) $546,876 (12.1%) 1.00 1,813
    2022-11-01 $425,000 (27.6%) $544,704 (7.6%) 1.02 1,849
    2022-12-01 $429,000 (26.2%) $552,392 (7.1%) 1.06 1,588
    2023-01-01 $439,450 (25.6%) $553,371 (2.8%) 1.09 1,422
    2023-02-01 $450,000 (20.0%) $567,869 (3.0%) 1.10 1,243
    2023-03-01 $467,500 (25.8%) $580,569 (6.7%) 1.11 1,185
    2023-04-01 $479,900 (23.1%) $610,017 (11.3%) 1.12 1,128
    2023-05-01 $482,500 (20.6%) $636,233 (12.3%) 1.10 1,165
    2023-06-01 $475,000 (18.0%) $654,346 (19.4%) 1.07 1,282
    2023-07-01 $475,000 (14.5%) $657,326 (21.8%) 1.08 1,427
    2023-08-01 $477,450 (15.4%) $665,603 (22.0%) 1.11 1,540
    2023-09-01 $475,000 (12.4%) $668,599 (20.6%) 1.11 1,661
    2023-10-01 $474,500 (11.7%) $641,875 (17.4%) 1.12 1,914
    2023-11-01 $462,463 (8.8%) $636,646 (16.9%) 1.10 2,023
    2023-12-01 $459,900 (7.2%) $623,330 (12.8%) 1.12 2,019
    2024-01-01 $457,950 (4.2%) $629,753 (13.8%) 1.12 1,873
    2024-02-01 $459,950 (2.2%) $642,220 (13.1%) 1.10 1,709
    2024-03-01 $450,000 (-3.7%) $640,639 (10.4%) 1.06 1,728
    2024-04-01 $464,950 (-3.1%) $659,120 (8.1%) 1.08 1,805
    2024-05-01 $485,000 (0.5%) $669,419 (5.2%) 1.11 1,961
    2024-06-01 $469,900 (-1.1%) $648,482 (-0.9%) 1.07 2,154
    2024-07-01 $469,450 (-1.2%) $629,933 (-4.2%) 1.07 2,377
    2024-08-01 $469,900 (-1.6%) $623,650 (-6.3%) 1.08 2,510
    2024-09-01 $454,950 (-4.2%) $610,001 (-8.8%) 1.07 2,650
    2024-10-01 $452,450 (-4.7%) $606,791 (-5.5%) 1.06 2,711
    2024-11-01 $450,000 (-2.7%) $605,375 (-4.9%) 1.08 2,881
    2024-12-01 $449,450 (-2.3%) $599,619 (-3.8%) 1.12 2,675
    2025-01-01 $439,437 (-4.0%) $586,181 (-6.9%) 0.00 2,534
    Knoxville's median listing price for 2025-01-01 was $439,437, a difference of $-18,513 (-4.0%) versus the prior year and $-10,013 versus the prior month.

    Knoxville's median listing price comes in at 0% of the national average.

    Knoxville's average listing price for 2025-01-01 was $586,181, a difference of $-43,572 (-6.9%) versus the prior year and $-13,438 versus the prior month.

    For the 2025-01-01 period, Knoxville had 2,534 MLS listings, a difference of -141 listings (-5%) versus the prior month and 661 listings (35%) 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 2,188 sqft
    2018-02-01 82 days 2,188 sqft
    2018-03-01 66 days 2,254 sqft
    2018-04-01 56 days 2,288 sqft
    2018-05-01 53 days 2,306 sqft
    2018-06-01 55 days 2,303 sqft
    2018-07-01 57 days 2,306 sqft
    2018-08-01 59 days 2,274 sqft
    2018-09-01 63 days 2,252 sqft
    2018-10-01 67 days 2,254 sqft
    2018-11-01 71 days 2,264 sqft
    2018-12-01 78 days 2,231 sqft
    2019-01-01 85 days 2,219 sqft
    2019-02-01 78 days 2,206 sqft
    2019-03-01 66 days 2,249 sqft
    2019-04-01 57 days 2,316 sqft
    2019-05-01 54 days 2,348 sqft
    2019-06-01 57 days 2,374 sqft
    2019-07-01 59 days 2,390 sqft
    2019-08-01 59 days 2,363 sqft
    2019-09-01 60 days 2,307 sqft
    2019-10-01 61 days 2,274 sqft
    2019-11-01 64 days 2,236 sqft
    2019-12-01 74 days 2,211 sqft
    2020-01-01 84 days 2,200 sqft
    2020-02-01 75 days 2,200 sqft
    2020-03-01 58 days 2,246 sqft
    2020-04-01 56 days 2,271 sqft
    2020-05-01 60 days 2,286 sqft
    2020-06-01 58 days 2,303 sqft
    2020-07-01 54 days 2,319 sqft
    2020-08-01 50 days 2,250 sqft
    2020-09-01 50 days 2,225 sqft
    2020-10-01 46 days 2,200 sqft
    2020-11-01 47 days 2,127 sqft
    2020-12-01 55 days 2,077 sqft
    2021-01-01 68 days 2,083 sqft
    2021-02-01 75 days 2,049 sqft
    2021-03-01 46 days 1,995 sqft
    2021-04-01 42 days 2,057 sqft
    2021-05-01 32 days 2,056 sqft
    2021-06-01 32 days 2,085 sqft
    2021-07-01 35 days 2,007 sqft
    2021-08-01 35 days 2,003 sqft
    2021-09-01 39 days 1,997 sqft
    2021-10-01 39 days 1,991 sqft
    2021-11-01 42 days 1,992 sqft
    2021-12-01 46 days 1,980 sqft
    2022-01-01 49 days 2,000 sqft
    2022-02-01 36 days 2,003 sqft
    2022-03-01 27 days 1,988 sqft
    2022-04-01 25 days 2,030 sqft
    2022-05-01 25 days 2,070 sqft
    2022-06-01 28 days 2,113 sqft
    2022-07-01 32 days 2,139 sqft
    2022-08-01 37 days 2,102 sqft
    2022-09-01 41 days 2,121 sqft
    2022-10-01 43 days 2,150 sqft
    2022-11-01 48 days 2,164 sqft
    2022-12-01 59 days 2,174 sqft
    2023-01-01 67 days 2,193 sqft
    2023-02-01 53 days 2,218 sqft
    2023-03-01 45 days 2,220 sqft
    2023-04-01 39 days 2,221 sqft
    2023-05-01 36 days 2,248 sqft
    2023-06-01 36 days 2,234 sqft
    2023-07-01 35 days 2,227 sqft
    2023-08-01 40 days 2,228 sqft
    2023-09-01 42 days 2,200 sqft
    2023-10-01 40 days 2,216 sqft
    2023-11-01 44 days 2,201 sqft
    2023-12-01 54 days 2,169 sqft
    2024-01-01 67 days 2,148 sqft
    2024-02-01 64 days 2,119 sqft
    2024-03-01 47 days 2,078 sqft
    2024-04-01 43 days 2,108 sqft
    2024-05-01 38 days 2,150 sqft
    2024-06-01 40 days 2,143 sqft
    2024-07-01 44 days 2,150 sqft
    2024-08-01 46 days 2,153 sqft
    2024-09-01 51 days 2,138 sqft
    2024-10-01 52 days 2,125 sqft
    2024-11-01 55 days 2,094 sqft
    2024-12-01 64 days 2,065 sqft
    2025-01-01 0 days 2,027 sqft
    Knoxville's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Knoxville's median square footage for active listings during the 2025-01-01 period was 2,027 sqft. One year prior, the average listing was 2,148 sqft.