Lubbock USDA Loan Rates, Closing Costs & Stats
LUBBOCK, TX
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.
Lubbock's 14 lenders originated 36 USDA loans during 2024. The total origination value was $6,640,000, with an average USDA loan value of $184,444.
Lubbock USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Lubbock
averaged
-0.13%
for the week of 2025-07-04, compared to the national average (all USDA variants) of
0% for the same period.
Lubbock's average USDA mortgage closing costs are $6,032.
The average rate for the prior week (2025-06-27) was
6.31% and
one month ago for the week of 2025-05-30, the
average rate was 6.69%.
The average rate one year ago was 6.59%.
For refis of the same type during the week of 2025-07-04, the average rate
was -0.23%.
Lubbock 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 Lubbock level.
| Name | # of Loans | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| DHI MORTGAGE COMPANY, LTD. | 6 | 4.85% | $5,633 |
| Alliance Credit Union | 5 | 6.15% | $7,880 |
| T2 FINANCIAL LLC | 5 | 6.65% | $6,600 |
| TEXAS TECH | 4 | 5.88% | $7,025 |
| GUILD MORTGAGE COMPANY | 4 | 6.09% | $6,823 |
| Plains Commerce Bank | 2 | 5.75% | $9,197 |
| HOMESIDE FINANCIAL, LLC | 2 | 6.75% | $6,249 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 6.75% | $4,629 |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | 1 | 6.49% | $3,009 |
| CARDINAL FINANCIAL | 1 | 6.38% | $11,366 |
| CMG MORTGAGE, INC. | 1 | 5.38% | $15,900 |
| FIRST COLONY MORTGAGE CORPORATION | 1 | 6.13% | $9,309 |
| FLAT BRANCH MORTGAGE, INC. | 1 | 6.75% | $4,775 |
| GUARANTEED RATE, INC. | 1 | 6.88% | $4,813 |
The top Lubbock USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with
6 USDA loans originated. Their average total fees are
$5,633, which is $2,247
lower than the next largest lender,
Alliance Credit Union.
The lowest fee Lubbock USDA lenders (with over 10 loans originated) are
.
The lowest rate Lubbock USDA lenders (with over 10 loans originated) are
.