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 41 lenders originated 157 USDA loans during 2024. The total origination value was $38,905,000, with an average USDA loan value of $247,803.

Knoxville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Knoxville averaged 0.15% for the week of 2025-06-20, compared to the national average (all USDA variants) of 0% for the same period.

Knoxville's average USDA mortgage closing costs are $5,572.

The average rate for the prior week (2025-06-13) was 6.45% and one month ago for the week of 2025-05-16, the average rate was 6.61%.

The average rate one year ago was 6.93%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.3%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
MORTGAGE INVESTORS GROUP, INC. 22 6.26% $7,490
Equity Prime Mortgage LLC 11 6.05% $10,238
AMERICAN FINANCIAL NETWORK, INC. 10 6.43% $3,382
AMERICAN FINANCIAL RESOURCES, INC. 8 6.25% $9,737
UNION HOME MORTGAGE CORP. 8 5.97% $9,694
UNITED WHOLESALE MORTGAGE, LLC 7 6.12% $11,253
Gateway First Bank 7 6.73% $7,768
STOCKTON MORTGAGE CORPORATION 7 6.45% $7,135
FIRST COMMUNITY MORTGAGE, INC. 7 6.29% $7,431
DHI MORTGAGE COMPANY, LTD. 7 6.30% $5,732
NEWREZ LLC 5 6.13% $9,883
MOVEMENT MORTGAGE, LLC 5 6.48% $9,879
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.15% $8,984
Sierra Pacific Mortgage Company, Inc. 5 6.40% $8,562
TOWNE MORTGAGE COMPANY 3 6.54% $6,946
CARDINAL FINANCIAL 3 6.42% $11,752
CMG MORTGAGE, INC. 3 6.46% $9,639
Y-12 Federal Credit Union 2 7.44% $7,278
BROKER SOLUTIONS, INC. 2 6.87% $11,254
CROSSCOUNTRY MORTGAGE, LLC 2 6.75% $8,455
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 6.81% $8,724
MID AMERICA MORTGAGE, INC. 2 5.63% $7,504
Renasant Bank 2 6.44% $6,066
Truist 2 6.13% $8,325
GUILD MORTGAGE COMPANY 1 6.38% $10,858
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.25% $12,363
NFM, INC. 1 5.63% $6,309
NORTHERN MORTGAGE SERVICES, LLC 1 6.25% $4,327
Paramount Residential Mortgage Group, Inc. 1 6.38% $12,043
Regions Bank 1 5.50% $8,130
Wolfe Financial, Inc 1 6.25% $6,633
GMFS LLC 1 5.99% $6,665
FLAT BRANCH MORTGAGE, INC. 1 5.88% $7,685
SUCCESS MORTGAGE PARTNERS, INC. 1 7.63% $10,664
Carrington Mortgage Services, LLC 1 5.50% $11,301
1ST SIGNATURE LENDING, LLC 1 6.63% $9,423
BAYSHORE MORTGAGE FUNDING, LLC 1 6.50% $10,055
United Community Bank 1 6.00% $7,066
Magnolia Bank 1 6.50% $7,827
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.63% $10,012
HOMESIDE FINANCIAL, LLC 1 6.62% $8,879

The top Knoxville USDA lender as defined by loan originations is MORTGAGE INVESTORS GROUP, INC., with 22 USDA loans originated. Their average total fees are $7,490, which is $2,747 lower than the next largest lender, Equity Prime Mortgage LLC.

The lowest fee Knoxville USDA lenders (with over 10 loans originated) are AMERICAN FINANCIAL NETWORK, INC. ($3,382), MORTGAGE INVESTORS GROUP, INC. ($7,490), Equity Prime Mortgage LLC ($10,238), .

The lowest rate Knoxville USDA lenders (with over 10 loans originated) are Equity Prime Mortgage LLC (6.05%), MORTGAGE INVESTORS GROUP, INC. (6.26%), AMERICAN FINANCIAL NETWORK, INC. (6.43%), .