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 9 lenders originated 19 USDA loans during 2021. The total origination value was $3,455,000, with an average USDA loan value of $181,842.
Lubbock USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Lubbock
averaged
6.5%
for the week of 2022-12-02, compared to the national average (all USDA variants) of
6.437% for the same period.
Lubbock's average USDA mortgage closing costs are $4,824.
The average rate for the prior week (2022-11-25) was
6.63% and
one month ago for the week of 2022-10-28, the
average rate was 6.8%.
The average rate one year ago was 3.4%.
For refis of the same type during the week of 2022-12-02, the average rate
was 6.23%.
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 | 2021 Avg. 30yFix Rate | 2021 Avg. Closing Costs |
|---|---|---|---|
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | 5 | 3.15% | $5,927 |
| First Bank & Trust | 4 | 3.31% | $4,196 |
| Carrington Mortgage Services, LLC | 2 | 4.44% | $8,916 |
| HOMETRUST MORTGAGE COMPANY | 2 | 2.81% | $6,353 |
| GENEVA FINANCIAL, LLC | 1 | 2.88% | $5,104 |
| Stride Bank | 1 | 2.88% | $6,484 |
| Bank of England | 1 | 2.63% | $6,571 |
| Colten Mortgage, LLC | 1 | 2.38% | $4,072 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 3.63% | $7,367 |
The top Lubbock USDA lender as defined by loan originations is ARK-LA-TEX FINANCIAL SERVICES, LLC., with
5 USDA loans originated. Their average total fees are
$5,927, which is $1,731
higher than the next largest lender,
First Bank & Trust.
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%) | 0.74 | 1,239 |
| 2018-11-01 | $215,600 (-7.3%) | $275,023 (-4.8%) | 0.73 | 1,207 |
| 2018-12-01 | $215,000 (-6.5%) | $273,327 (-4.9%) | 0.74 | 1,180 |
| 2019-01-01 | $217,245 (-3.2%) | $275,897 (-1.0%) | 0.75 | 1,110 |
| 2019-02-01 | $222,213 (-5.0%) | $279,169 (-4.2%) | 0.75 | 1,074 |
| 2019-03-01 | $231,114 (-1.7%) | $280,854 (-5.2%) | 0.76 | 1,023 |
| 2019-04-01 | $240,875 (-2.4%) | $286,150 (-6.3%) | 0.76 | 967 |
| 2019-05-01 | $244,913 (0.1%) | $292,953 (-2.6%) | 0.77 | 968 |
| 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 (8.4%) | $343,111 (24.4%) | 0.79 | 806 |
| 2020-02-01 | $236,750 (6.5%) | $286,879 (2.8%) | 0.77 | 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%) | $327,824 (15.8%) | 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 | $237,375 (1.1%) | $297,335 (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%) | $334,489 (14.2%) | 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%) | 0.85 | 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 (7.0%) | 0.79 | 544 |
| 2021-09-01 | $275,975 (5.1%) | $335,705 (3.3%) | 0.74 | 555 |
| 2021-10-01 | $283,250 (14.8%) | $336,209 (10.1%) | 0.76 | 539 |
| 2021-11-01 | $292,500 (26.1%) | $344,632 (17.6%) | 0.78 | 495 |
| 2021-12-01 | $293,000 (23.4%) | $346,467 (16.5%) | 0.79 | 434 |
| 2022-01-01 | $300,000 (15.6%) | $351,395 (17.9%) | 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 | $350,999 (13.2%) | $403,570 (12.7%) | 0.84 | 343 |
| 2022-05-01 | $350,000 (8.4%) | $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 | $319,305 (8.0%) | $358,270 (2.1%) | 0.74 | 795 |
| 2022-09-01 | $311,738 (13.0%) | $358,526 (6.8%) | 0.73 | 851 |
| 2022-10-01 | $318,000 (12.3%) | $365,082 (8.6%) | 0.75 | 902 |
| 2022-11-01 | $304,362 (4.1%) | $359,187 (4.2%) | 0.73 | 939 |
Lubbock's median listing price comes in at 73% of the national average.
Lubbock's average listing price for 2022-11-01 was $359,187, a difference of $14,555 (4.2%) versus the prior year and $-5,895 versus the prior month.
For the 2022-11-01 period, Lubbock had 939 MLS listings, a difference of 37 listings (4%) versus the prior month and 444 listings (90%) 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 | 57 days | 2,261 sqft |
| 2018-02-01 | 40 days | 2,313 sqft |
| 2018-03-01 | 44 days | 2,326 sqft |
| 2018-04-01 | 44 days | 2,374 sqft |
| 2018-05-01 | 39 days | 2,362 sqft |
| 2018-06-01 | 40 days | 2,310 sqft |
| 2018-07-01 | 43 days | 2,265 sqft |
| 2018-08-01 | 45 days | 2,285 sqft |
| 2018-09-01 | 47 days | 2,238 sqft |
| 2018-10-01 | 46 days | 2,200 sqft |
| 2018-11-01 | 50 days | 2,190 sqft |
| 2018-12-01 | 59 days | 2,155 sqft |
| 2019-01-01 | 65 days | 2,153 sqft |
| 2019-02-01 | 50 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 | 43 days | 2,280 sqft |
| 2019-07-01 | 46 days | 2,277 sqft |
| 2019-08-01 | 47 days | 2,235 sqft |
| 2019-09-01 | 49 days | 2,168 sqft |
| 2019-10-01 | 50 days | 2,129 sqft |
| 2019-11-01 | 49 days | 2,138 sqft |
| 2019-12-01 | 58 days | 2,120 sqft |
| 2020-01-01 | 61 days | 2,106 sqft |
| 2020-02-01 | 43 days | 2,111 sqft |
| 2020-03-01 | 43 days | 2,111 sqft |
| 2020-04-01 | 48 days | 2,143 sqft |
| 2020-05-01 | 51 days | 2,172 sqft |
| 2020-06-01 | 42 days | 2,170 sqft |
| 2020-07-01 | 37 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 | 47 days | 2,037 sqft |
| 2020-12-01 | 49 days | 2,005 sqft |
| 2021-01-01 | 50 days | 2,047 sqft |
| 2021-02-01 | 41 days | 2,078 sqft |
| 2021-03-01 | 38 days | 2,144 sqft |
| 2021-04-01 | 26 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 | 43 days | 2,110 sqft |
| 2021-11-01 | 44 days | 2,089 sqft |
| 2021-12-01 | 50 days | 2,081 sqft |
| 2022-01-01 | 44 days | 2,117 sqft |
| 2022-02-01 | 32 days | 2,211 sqft |
| 2022-03-01 | 25 days | 2,180 sqft |
| 2022-04-01 | 23 days | 2,143 sqft |
| 2022-05-01 | 22 days | 2,138 sqft |
| 2022-06-01 | 25 days | 2,090 sqft |
| 2022-07-01 | 28 days | 2,090 sqft |
| 2022-08-01 | 31 days | 2,091 sqft |
| 2022-09-01 | 36 days | 2,083 sqft |
| 2022-10-01 | 38 days | 2,100 sqft |
| 2022-11-01 | 44 days | 2,068 sqft |
Lubbock's median square footage for active listings during the 2022-11-01 period was 2,068 sqft. One year prior, the average listing was 2,089 sqft.
