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 11 lenders originated 25 USDA loans during 2023. The total origination value was $5,245,000, with an average USDA loan value of $209,800.

    Lubbock USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Lubbock averaged 6.69% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Lubbock's average USDA mortgage closing costs are $5,677.

    The average rate for the prior week (2024-04-12) was 6.64% and one month ago for the week of 2024-03-15, the average rate was 6.52%.

    The average rate one year ago was 6.16%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.17%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CARDINAL FINANCIAL 7 5.68% $8,991
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.23% $6,899
    T2 FINANCIAL LLC 3 6.63% $6,635
    THRIVE MORTGAGE, LLC 2 6.06% $12,522
    GUARANTY HOME MORTGAGE CORPORATION 1 5.50% $3,570
    Paramount Residential Mortgage Group, Inc. 1 6.88% $6,909
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.13% $11,425
    UNITED WHOLESALE MORTGAGE, LLC 1 5.43% $12,083
    City Bank 1 6.13% $6,451
    DHI MORTGAGE COMPANY, LTD. 1 5.50% $5,744
    FLAT BRANCH MORTGAGE, INC. 1 6.75% $6,918

    The top Lubbock USDA lender as defined by loan originations is CARDINAL FINANCIAL, with 7 USDA loans originated. Their average total fees are $8,991, which is $2,093 higher than the next largest lender, ARK-LA-TEX FINANCIAL SERVICES, 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 (1.6%) 0.83 1,030
    2018-02-01 $233,863 (5.4%) $291,535 (1.7%) 0.85 1,003
    2018-03-01 $235,000 (-4.0%) $296,210 (-0.4%) 0.82 1,009
    2018-04-01 $246,125 (-9.1%) $305,280 (-2.5%) 0.83 1,009
    2018-05-01 $244,500 (-10.1%) $300,833 (-4.8%) 0.82 1,053
    2018-06-01 $238,500 (-10.7%) $299,073 (-3.5%) 0.80 1,150
    2018-07-01 $234,950 (-8.7%) $291,951 (-3.8%) 0.78 1,211
    2018-08-01 $234,950 (-3.9%) $292,634 (-0.6%) 0.79 1,221
    2018-09-01 $226,000 (-3.8%) $286,770 (-1.7%) 0.76 1,223
    2018-10-01 $219,975 (-6.4%) $280,302 (-3.6%) 0.75 1,239
    2018-11-01 $216,245 (-7.0%) $275,191 (-4.7%) 0.73 1,207
    2018-12-01 $215,000 (-6.5%) $273,416 (-4.9%) 0.74 1,181
    2019-01-01 $217,500 (-3.1%) $276,153 (-0.9%) 0.75 1,110
    2019-02-01 $222,225 (-5.0%) $279,300 (-4.2%) 0.75 1,074
    2019-03-01 $231,114 (-1.7%) $280,819 (-5.2%) 0.76 1,022
    2019-04-01 $240,875 (-2.1%) $286,107 (-6.3%) 0.76 966
    2019-05-01 $244,950 (0.2%) $293,053 (-2.6%) 0.77 969
    2019-06-01 $249,900 (4.8%) $295,461 (-1.2%) 0.78 973
    2019-07-01 $242,500 (3.2%) $292,044 (0.0%) 0.76 961
    2019-08-01 $232,636 (-1.0%) $283,126 (-3.3%) 0.74 935
    2019-09-01 $221,591 (-2.0%) $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 (4.1%) $269,528 (-2.1%) 0.74 900
    2019-12-01 $234,875 (9.2%) $277,537 (1.5%) 0.78 838
    2020-01-01 $235,375 (8.2%) $343,111 (24.3%) 0.79 806
    2020-02-01 $236,499 (6.4%) $287,113 (2.8%) 0.77 845
    2020-03-01 $239,900 (3.8%) $293,342 (4.5%) 0.75 844
    2020-04-01 $242,475 (0.7%) $300,356 (5.0%) 0.76 861
    2020-05-01 $249,500 (1.9%) $307,444 (4.9%) 0.76 765
    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 (15.0%) $315,573 (9.9%) 0.79 402
    2021-03-01 $290,000 (20.9%) $334,073 (13.9%) 0.82 342
    2021-04-01 $309,950 (27.8%) $357,286 (19.0%) 0.84 346
    2021-05-01 $322,990 (29.5%) $366,352 (19.2%) 0.86 368
    2021-06-01 $306,710 (22.2%) $358,594 (13.7%) 0.81 443
    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 $281,500 (14.1%) $336,209 (10.1%) 0.75 538
    2021-11-01 $292,500 (26.1%) $344,632 (17.6%) 0.78 495
    2021-12-01 $292,750 (23.3%) $346,467 (16.5%) 0.79 434
    2022-01-01 $300,000 (15.6%) $350,748 (17.7%) 0.81 376
    2022-02-01 $358,900 (32.0%) $396,562 (25.7%) 0.93 311
    2022-03-01 $350,362 (20.8%) $397,068 (18.9%) 0.88 318
    2022-04-01 $350,000 (12.9%) $403,074 (12.8%) 0.83 342
    2022-05-01 $348,675 (8.0%) $394,404 (7.7%) 0.80 455
    2022-06-01 $340,000 (10.9%) $385,325 (7.5%) 0.76 549
    2022-07-01 $320,000 (10.6%) $367,989 (2.8%) 0.72 707
    2022-08-01 $318,263 (7.7%) $357,670 (1.9%) 0.74 788
    2022-09-01 $312,475 (13.2%) $358,494 (6.8%) 0.73 841
    2022-10-01 $317,600 (12.8%) $364,551 (8.4%) 0.75 888
    2022-11-01 $303,700 (3.8%) $358,865 (4.1%) 0.73 927
    2022-12-01 $296,000 (1.1%) $357,570 (3.2%) 0.73 939
    2023-01-01 $297,750 (-0.8%) $351,973 (0.4%) 0.74 915
    2023-02-01 $300,000 (-16.4%) $355,159 (-10.4%) 0.72 916
    2023-03-01 $300,000 (-14.4%) $354,454 (-10.7%) 0.71 906
    2023-04-01 $315,000 (-10.0%) $370,456 (-8.1%) 0.73 882
    2023-05-01 $302,248 (-13.3%) $364,671 (-7.5%) 0.69 973
    2023-06-01 $308,262 (-9.3%) $361,954 (-6.1%) 0.69 1,023
    2023-07-01 $303,850 (-5.1%) $364,806 (-0.9%) 0.69 1,089
    2023-08-01 $295,000 (-7.3%) $361,435 (1.1%) 0.68 1,140
    2023-09-01 $287,750 (-7.9%) $352,142 (-1.8%) 0.67 1,246
    2023-10-01 $273,500 (-13.9%) $342,348 (-6.1%) 0.64 1,267
    2023-11-01 $262,125 (-13.7%) $328,269 (-8.5%) 0.62 1,310
    2023-12-01 $260,000 (-12.2%) $328,287 (-8.2%) 0.63 1,241
    2024-01-01 $260,000 (-12.7%) $327,887 (-6.8%) 0.63 1,200
    2024-02-01 $261,000 (-13.0%) $326,514 (-8.1%) 0.63 1,214
    2024-03-01 $268,500 (-10.5%) $333,157 (-6.0%) 0.63 1,258
    Lubbock's median listing price for 2024-03-01 was $268,500, a difference of $-31,500 (-10.5%) versus the prior year and $7,500 versus the prior month.

    Lubbock's median listing price comes in at 63% of the national average.

    Lubbock's average listing price for 2024-03-01 was $333,157, a difference of $-21,297 (-6.0%) versus the prior year and $6,643 versus the prior month.

    For the 2024-03-01 period, Lubbock had 1,258 MLS listings, a difference of 44 listings (4%) versus the prior month and 352 listings (39%) 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 2,373 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 2,286 sqft
    2018-09-01 46 days 2,238 sqft
    2018-10-01 46 days 2,200 sqft
    2018-11-01 49 days 2,191 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 2,184 sqft
    2019-04-01 45 days 2,227 sqft
    2019-05-01 44 days 2,249 sqft
    2019-06-01 40 days 2,281 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 2,112 sqft
    2020-03-01 42 days 2,111 sqft
    2020-04-01 47 days 2,144 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 2,005 sqft
    2021-01-01 47 days 2,047 sqft
    2021-02-01 39 days 2,078 sqft
    2021-03-01 37 days 2,142 sqft
    2021-04-01 25 days 2,189 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 2,080 sqft
    2022-01-01 44 days 2,116 sqft
    2022-02-01 31 days 2,212 sqft
    2022-03-01 25 days 2,174 sqft
    2022-04-01 22 days 2,136 sqft
    2022-05-01 21 days 2,120 sqft
    2022-06-01 25 days 2,092 sqft
    2022-07-01 28 days 2,090 sqft
    2022-08-01 31 days 2,087 sqft
    2022-09-01 36 days 2,085 sqft
    2022-10-01 38 days 2,100 sqft
    2022-11-01 44 days 2,068 sqft
    2022-12-01 50 days 2,031 sqft
    2023-01-01 52 days 2,018 sqft
    2023-02-01 41 days 2,039 sqft
    2023-03-01 44 days 2,047 sqft
    2023-04-01 40 days 2,102 sqft
    2023-05-01 33 days 2,063 sqft
    2023-06-01 37 days 2,083 sqft
    2023-07-01 37 days 2,056 sqft
    2023-08-01 44 days 2,040 sqft
    2023-09-01 45 days 2,000 sqft
    2023-10-01 40 days 1,899 sqft
    2023-11-01 47 days 1,866 sqft
    2023-12-01 59 days 1,860 sqft
    2024-01-01 63 days 1,855 sqft
    2024-02-01 48 days 1,847 sqft
    2024-03-01 40 days 1,903 sqft
    Lubbock's median listing age (time on market) for 2024-03-01 was 40 days. This is -9% shorter than the same period one year ago.

    Lubbock's median square footage for active listings during the 2024-03-01 period was 1,903 sqft. One year prior, the average listing was 2,047 sqft.