Lubbock USDA Loan Rates, Closing Costs & Stats

LUBBOCK, TX

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    • 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 6 lenders originated 9 USDA loans during 2022. The total origination value was $1,485,000, with an average USDA loan value of $165,000.

    Lubbock USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Lubbock averaged 6.59% for the week of 2023-09-22, compared to the national average (all USDA variants) of 7.021% for the same period.

    Lubbock's average USDA mortgage closing costs are $4,886.

    The average rate for the prior week (2023-09-15) was 6.86% and one month ago for the week of 2023-08-18, the average rate was 6.96%.

    The average rate one year ago was 5.78%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.74%.

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

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 5.54% $5,658
    UNITED WHOLESALE MORTGAGE, LLC 2 5.56% $4,369
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 5.25% $8,135
    EVERETT FINANCIAL, INC. 1 4.50% $3,721
    First Bank & Trust 1 5.63% $5,799
    HOME POINT FINANCIAL CORPORATION 1 6.25% $4,660

    The top Lubbock USDA lender as defined by loan originations is ARK-LA-TEX FINANCIAL SERVICES, LLC., with 3 USDA loans originated. Their average total fees are $5,658, which is $1,288 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Lubbock USDA lenders (with over 10 loans originated) are .

    The lowest rate Lubbock USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lubbock (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 $224,400 (6.9%) $278,567 (1.8%) 0.83 1,030
    2018-02-01 $233,863 (5.6%) $291,535 (1.8%) 0.85 1,003
    2018-03-01 $235,000 (-4.0%) $296,210 (-0.3%) 0.82 1,009
    2018-04-01 $246,750 (-8.6%) $305,278 (-2.4%) 0.84 1,010
    2018-05-01 $244,600 (-9.6%) $300,831 (-4.7%) 0.82 1,054
    2018-06-01 $238,000 (-10.9%) $298,884 (-3.5%) 0.79 1,151
    2018-07-01 $234,950 (-8.7%) $291,869 (-3.9%) 0.78 1,212
    2018-08-01 $234,950 (-3.9%) $292,634 (-0.6%) 0.79 1,221
    2018-09-01 $225,850 (-3.9%) $286,607 (-1.8%) 0.76 1,224
    2018-10-01 $219,975 (-6.4%) $280,065 (-3.6%) 0.75 1,239
    2018-11-01 $215,600 (-7.3%) $275,023 (-4.8%) 0.73 1,207
    2018-12-01 $215,000 (-6.5%) $273,348 (-4.9%) 0.74 1,181
    2019-01-01 $217,373 (-3.1%) $275,917 (-1.0%) 0.75 1,111
    2019-02-01 $222,225 (-5.0%) $279,178 (-4.2%) 0.75 1,075
    2019-03-01 $231,114 (-1.7%) $280,854 (-5.2%) 0.76 1,023
    2019-04-01 $240,875 (-2.4%) $286,147 (-6.3%) 0.76 967
    2019-05-01 $244,925 (0.1%) $292,957 (-2.6%) 0.77 969
    2019-06-01 $249,900 (5.0%) $295,457 (-1.2%) 0.78 973
    2019-07-01 $242,500 (3.2%) $292,044 (0.1%) 0.76 961
    2019-08-01 $232,636 (-1.0%) $283,126 (-3.3%) 0.74 935
    2019-09-01 $221,591 (-1.9%) $272,957 (-4.8%) 0.71 925
    2019-10-01 $216,975 (-1.4%) $266,727 (-4.8%) 0.70 916
    2019-11-01 $225,000 (4.4%) $269,528 (-2.0%) 0.74 900
    2019-12-01 $234,875 (9.2%) $277,537 (1.5%) 0.78 838
    2020-01-01 $235,375 (8.3%) $343,111 (24.4%) 0.79 806
    2020-02-01 $236,750 (6.5%) $286,879 (2.8%) 0.78 846
    2020-03-01 $239,900 (3.8%) $293,038 (4.3%) 0.75 847
    2020-04-01 $242,500 (0.7%) $300,040 (4.9%) 0.76 863
    2020-05-01 $249,500 (1.9%) $307,051 (4.8%) 0.76 766
    2020-06-01 $250,950 (0.4%) $315,404 (6.8%) 0.74 698
    2020-07-01 $249,950 (3.1%) $321,164 (10.0%) 0.72 684
    2020-08-01 $263,175 (13.1%) $327,685 (15.7%) 0.75 641
    2020-09-01 $262,500 (18.5%) $325,139 (19.1%) 0.75 639
    2020-10-01 $246,725 (13.7%) $305,454 (14.5%) 0.71 641
    2020-11-01 $232,000 (3.1%) $293,084 (8.7%) 0.68 611
    2020-12-01 $237,313 (1.0%) $297,268 (7.1%) 0.71 549
    2021-01-01 $259,450 (10.2%) $297,935 (-13.2%) 0.77 492
    2021-02-01 $271,900 (14.9%) $315,573 (10.0%) 0.79 402
    2021-03-01 $290,000 (20.9%) $334,488 (14.1%) 0.82 343
    2021-04-01 $309,975 (27.8%) $358,033 (19.3%) 0.84 347
    2021-05-01 $322,990 (29.5%) $367,040 (19.5%) 0.86 369
    2021-06-01 $307,450 (22.5%) $359,194 (13.9%) 0.81 444
    2021-07-01 $289,400 (15.8%) $357,915 (11.4%) 0.76 514
    2021-08-01 $295,625 (12.3%) $350,907 (7.1%) 0.79 544
    2021-09-01 $275,975 (5.1%) $335,705 (3.3%) 0.74 555
    2021-10-01 $281,500 (14.1%) $336,209 (10.1%) 0.75 539
    2021-11-01 $292,500 (26.1%) $344,632 (17.6%) 0.78 495
    2021-12-01 $293,000 (23.5%) $346,467 (16.6%) 0.79 434
    2022-01-01 $300,000 (15.6%) $350,831 (17.8%) 0.81 377
    2022-02-01 $359,175 (32.1%) $396,514 (25.7%) 0.93 312
    2022-03-01 $351,475 (21.2%) $397,044 (18.7%) 0.88 319
    2022-04-01 $350,000 (12.9%) $403,057 (12.6%) 0.83 343
    2022-05-01 $348,850 (8.0%) $394,410 (7.5%) 0.80 456
    2022-06-01 $340,000 (10.6%) $385,144 (7.2%) 0.76 554
    2022-07-01 $320,000 (10.6%) $367,961 (2.8%) 0.72 710
    2022-08-01 $318,880 (7.9%) $358,200 (2.1%) 0.74 795
    2022-09-01 $311,738 (13.0%) $358,526 (6.8%) 0.73 851
    2022-10-01 $318,000 (13.0%) $361,158 (7.4%) 0.75 902
    2022-11-01 $303,725 (3.8%) $355,390 (3.1%) 0.73 938
    2022-12-01 $297,600 (1.6%) $354,215 (2.2%) 0.73 951
    2023-01-01 $298,650 (-0.5%) $348,249 (-0.7%) 0.74 927
    2023-02-01 $300,000 (-16.5%) $351,592 (-11.3%) 0.72 941
    2023-03-01 $299,900 (-14.7%) $348,175 (-12.3%) 0.71 955
    2023-04-01 $305,000 (-12.9%) $362,164 (-10.2%) 0.71 934
    2023-05-01 $299,500 (-14.2%) $361,447 (-8.4%) 0.68 1,019
    2023-06-01 $303,000 (-10.9%) $359,016 (-6.8%) 0.68 1,066
    2023-07-01 $299,990 (-6.3%) $362,762 (-1.4%) 0.68 1,127
    2023-08-01 $295,000 (-7.5%) $361,435 (0.9%) 0.68 1,140
    Lubbock's median listing price for 2023-08-01 was $295,000, a difference of $-23,880 (-7.5%) versus the prior year and $-4,990 versus the prior month.

    Lubbock's median listing price comes in at 68% of the national average.

    Lubbock's average listing price for 2023-08-01 was $361,435, a difference of $3,235 (0.9%) versus the prior year and $-1,327 versus the prior month.

    For the 2023-08-01 period, Lubbock had 1,140 MLS listings, a difference of 13 listings (1%) versus the prior month and 345 listings (43%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lubbock (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 56 days 2,261 sqft
    2018-02-01 40 days 2,313 sqft
    2018-03-01 43 days 2,326 sqft
    2018-04-01 43 days 2,374 sqft
    2018-05-01 38 days 2,362 sqft
    2018-06-01 40 days 2,310 sqft
    2018-07-01 42 days 2,265 sqft
    2018-08-01 44 days 2,285 sqft
    2018-09-01 46 days 2,238 sqft
    2018-10-01 46 days 2,200 sqft
    2018-11-01 49 days 2,190 sqft
    2018-12-01 58 days 2,155 sqft
    2019-01-01 64 days 2,153 sqft
    2019-02-01 49 days 2,158 sqft
    2019-03-01 45 days 2,183 sqft
    2019-04-01 45 days 2,225 sqft
    2019-05-01 45 days 2,244 sqft
    2019-06-01 41 days 2,277 sqft
    2019-07-01 46 days 2,277 sqft
    2019-08-01 47 days 2,235 sqft
    2019-09-01 47 days 2,168 sqft
    2019-10-01 49 days 2,129 sqft
    2019-11-01 47 days 2,138 sqft
    2019-12-01 57 days 2,120 sqft
    2020-01-01 60 days 2,106 sqft
    2020-02-01 43 days 2,111 sqft
    2020-03-01 42 days 2,111 sqft
    2020-04-01 47 days 2,143 sqft
    2020-05-01 51 days 2,172 sqft
    2020-06-01 42 days 2,170 sqft
    2020-07-01 36 days 2,169 sqft
    2020-08-01 44 days 2,227 sqft
    2020-09-01 44 days 2,219 sqft
    2020-10-01 43 days 2,113 sqft
    2020-11-01 46 days 2,037 sqft
    2020-12-01 47 days 2,004 sqft
    2021-01-01 47 days 2,047 sqft
    2021-02-01 39 days 2,078 sqft
    2021-03-01 37 days 2,144 sqft
    2021-04-01 25 days 2,192 sqft
    2021-05-01 24 days 2,230 sqft
    2021-06-01 24 days 2,206 sqft
    2021-07-01 29 days 2,200 sqft
    2021-08-01 32 days 2,146 sqft
    2021-09-01 36 days 2,097 sqft
    2021-10-01 42 days 2,106 sqft
    2021-11-01 44 days 2,089 sqft
    2021-12-01 49 days 2,081 sqft
    2022-01-01 44 days 2,117 sqft
    2022-02-01 31 days 2,211 sqft
    2022-03-01 25 days 2,180 sqft
    2022-04-01 22 days 2,139 sqft
    2022-05-01 22 days 2,125 sqft
    2022-06-01 25 days 2,090 sqft
    2022-07-01 28 days 2,090 sqft
    2022-08-01 30 days 2,088 sqft
    2022-09-01 36 days 2,083 sqft
    2022-10-01 38 days 2,096 sqft
    2022-11-01 44 days 2,067 sqft
    2022-12-01 50 days 2,031 sqft
    2023-01-01 53 days 2,014 sqft
    2023-02-01 40 days 2,026 sqft
    2023-03-01 43 days 2,007 sqft
    2023-04-01 39 days 2,050 sqft
    2023-05-01 32 days 2,039 sqft
    2023-06-01 37 days 2,051 sqft
    2023-07-01 38 days 2,048 sqft
    2023-08-01 44 days 2,040 sqft
    Lubbock's median listing age (time on market) for 2023-08-01 was 44 days. This is 48% longer than the same period one year ago.

    Lubbock's median square footage for active listings during the 2023-08-01 period was 2,040 sqft. One year prior, the average listing was 2,088 sqft.