Lubbock USDA Loans
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
5.35%
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was
5.49% and
one month ago for the week of 2022-04-08, the
average rate was 4.85%.
The average rate one year ago was 3.16%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.18%.
Lubbock USDA Loan Lenders by Rates & Fees
The below table looks at the average fees 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. Total Fees |
|---|---|---|---|
| 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 | $224,875 (6.7%) | $277,320 (0.4%) | 0.83 | 1,006 |
| 2018-02-01 | $234,700 (5.5%) | $289,294 (0.5%) | 0.85 | 987 |
| 2018-03-01 | $235,000 (-4.0%) | $292,864 (-2.6%) | 0.81 | 986 |
| 2018-04-01 | $248,000 (-8.1%) | $303,147 (-4.0%) | 0.83 | 994 |
| 2018-05-01 | $244,750 (-9.7%) | $298,730 (-4.9%) | 0.82 | 1,033 |
| 2018-06-01 | $239,000 (-10.6%) | $295,209 (-4.1%) | 0.80 | 1,118 |
| 2018-07-01 | $234,925 (-8.9%) | $288,451 (-3.9%) | 0.78 | 1,185 |
| 2018-08-01 | $235,000 (-4.9%) | $289,003 (-0.6%) | 0.79 | 1,199 |
| 2018-09-01 | $229,000 (-2.6%) | $282,220 (-2.7%) | 0.77 | 1,207 |
| 2018-10-01 | $221,250 (-6.2%) | $276,234 (-4.3%) | 0.74 | 1,219 |
| 2018-11-01 | $218,250 (-7.4%) | $272,382 (-5.4%) | 0.73 | 1,194 |
| 2018-12-01 | $217,000 (-5.6%) | $271,187 (-4.9%) | 0.74 | 1,173 |
| 2019-01-01 | $219,450 (-2.4%) | $273,971 (-1.2%) | 0.76 | 1,107 |
| 2019-02-01 | $225,000 (-4.1%) | $277,905 (-3.9%) | 0.75 | 1,068 |
| 2019-03-01 | $233,529 (-0.6%) | $281,039 (-4.0%) | 0.76 | 1,006 |
| 2019-04-01 | $247,400 (-0.2%) | $289,488 (-4.5%) | 0.78 | 950 |
| 2019-05-01 | $249,450 (1.9%) | $296,574 (-0.7%) | 0.77 | 959 |
| 2019-06-01 | $249,900 (4.6%) | $298,207 (1.0%) | 0.77 | 960 |
| 2019-07-01 | $242,900 (3.4%) | $292,757 (1.5%) | 0.75 | 947 |
| 2019-08-01 | $233,529 (-0.6%) | $280,395 (-3.0%) | 0.73 | 920 |
| 2019-09-01 | $224,950 (-1.8%) | $271,430 (-3.8%) | 0.71 | 907 |
| 2019-10-01 | $220,950 (-0.1%) | $267,416 (-3.2%) | 0.70 | 897 |
| 2019-11-01 | $225,000 (3.1%) | $269,424 (-1.1%) | 0.73 | 887 |
| 2019-12-01 | $234,750 (8.2%) | $276,374 (1.9%) | 0.78 | 828 |
| 2020-01-01 | $237,651 (8.3%) | $343,660 (25.4%) | 0.79 | 791 |
| 2020-02-01 | $239,900 (6.6%) | $290,338 (4.5%) | 0.77 | 826 |
| 2020-03-01 | $243,250 (4.2%) | $294,966 (5.0%) | 0.76 | 821 |
| 2020-04-01 | $245,000 (-1.0%) | $302,342 (4.4%) | 0.76 | 842 |
| 2020-05-01 | $249,000 (-0.2%) | $310,292 (4.6%) | 0.75 | 744 |
| 2020-06-01 | $257,750 (3.1%) | $318,942 (7.0%) | 0.75 | 679 |
| 2020-07-01 | $252,500 (4.0%) | $326,099 (11.4%) | 0.72 | 663 |
| 2020-08-01 | $265,000 (13.5%) | $329,955 (17.7%) | 0.76 | 624 |
| 2020-09-01 | $265,000 (17.8%) | $330,478 (21.8%) | 0.76 | 621 |
| 2020-10-01 | $249,750 (13.0%) | $311,224 (16.4%) | 0.71 | 620 |
| 2020-11-01 | $242,750 (7.9%) | $296,933 (10.2%) | 0.70 | 585 |
| 2020-12-01 | $244,750 (4.3%) | $299,625 (8.4%) | 0.72 | 526 |
| 2021-01-01 | $259,900 (9.4%) | $300,889 (-12.5%) | 0.76 | 453 |
| 2021-02-01 | $274,500 (14.4%) | $314,883 (8.5%) | 0.79 | 384 |
| 2021-03-01 | $292,500 (20.3%) | $336,976 (14.2%) | 0.82 | 330 |
| 2021-04-01 | $315,000 (28.6%) | $364,389 (20.5%) | 0.85 | 323 |
| 2021-05-01 | $325,800 (30.8%) | $368,517 (18.8%) | 0.86 | 350 |
| 2021-06-01 | $315,990 (22.6%) | $363,457 (14.0%) | 0.82 | 422 |
| 2021-07-01 | $297,475 (17.8%) | $360,038 (10.4%) | 0.77 | 489 |
| 2021-08-01 | $299,000 (12.8%) | $351,855 (6.6%) | 0.79 | 528 |
| 2021-09-01 | $275,000 (3.8%) | $338,095 (2.3%) | 0.72 | 537 |
| 2021-10-01 | $281,500 (12.7%) | $338,522 (8.8%) | 0.74 | 530 |
| 2021-11-01 | $290,000 (19.5%) | $342,561 (15.4%) | 0.76 | 480 |
| 2021-12-01 | $295,500 (20.7%) | $346,511 (15.7%) | 0.79 | 419 |
| 2022-01-01 | $300,000 (15.4%) | $350,764 (16.6%) | 0.80 | 366 |
| 2022-02-01 | $356,450 (29.9%) | $389,508 (23.7%) | 0.91 | 293 |
| 2022-03-01 | $344,750 (17.9%) | $386,757 (14.8%) | 0.85 | 305 |
| 2022-04-01 | $350,000 (11.1%) | $388,541 (6.6%) | 0.82 | 326 |
Lubbock's median listing price comes in at 82% of the national average.
Lubbock's average listing price for 2022-04-01 was $388,541, a difference of $24,152 (6.6%) versus the prior year and $1,784 versus the prior month.
For the 2022-04-01 period, Lubbock had 326 MLS listings, a difference of 21 listings (7%) versus the prior month and 3 listings (1%) 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 | 2,287 sqft |
| 2018-02-01 | 40 days | 2,321 sqft |
| 2018-03-01 | 43 days | 2,327 sqft |
| 2018-04-01 | 44 days | 2,379 sqft |
| 2018-05-01 | 39 days | 2,369 sqft |
| 2018-06-01 | 40 days | 2,321 sqft |
| 2018-07-01 | 41 days | 2,276 sqft |
| 2018-08-01 | 44 days | 2,291 sqft |
| 2018-09-01 | 46 days | 2,240 sqft |
| 2018-10-01 | 46 days | 2,202 sqft |
| 2018-11-01 | 48 days | 2,195 sqft |
| 2018-12-01 | 58 days | 2,170 sqft |
| 2019-01-01 | 64 days | 2,173 sqft |
| 2019-02-01 | 50 days | 2,175 sqft |
| 2019-03-01 | 46 days | 2,198 sqft |
| 2019-04-01 | 44 days | 2,251 sqft |
| 2019-05-01 | 43 days | 2,260 sqft |
| 2019-06-01 | 42 days | 2,283 sqft |
| 2019-07-01 | 43 days | 2,275 sqft |
| 2019-08-01 | 44 days | 2,232 sqft |
| 2019-09-01 | 47 days | 2,184 sqft |
| 2019-10-01 | 48 days | 2,136 sqft |
| 2019-11-01 | 46 days | 2,135 sqft |
| 2019-12-01 | 56 days | 2,130 sqft |
| 2020-01-01 | 59 days | 2,111 sqft |
| 2020-02-01 | 42 days | 2,129 sqft |
| 2020-03-01 | 42 days | 2,127 sqft |
| 2020-04-01 | 47 days | 2,154 sqft |
| 2020-05-01 | 51 days | 2,173 sqft |
| 2020-06-01 | 42 days | 2,190 sqft |
| 2020-07-01 | 35 days | 2,178 sqft |
| 2020-08-01 | 43 days | 2,240 sqft |
| 2020-09-01 | 45 days | 2,241 sqft |
| 2020-10-01 | 43 days | 2,138 sqft |
| 2020-11-01 | 44 days | 2,059 sqft |
| 2020-12-01 | 47 days | 2,030 sqft |
| 2021-01-01 | 52 days | 2,057 sqft |
| 2021-02-01 | 41 days | 2,083 sqft |
| 2021-03-01 | 38 days | 2,156 sqft |
| 2021-04-01 | 29 days | 2,214 sqft |
| 2021-05-01 | 24 days | 2,260 sqft |
| 2021-06-01 | 24 days | 2,233 sqft |
| 2021-07-01 | 29 days | 2,218 sqft |
| 2021-08-01 | 33 days | 2,157 sqft |
| 2021-09-01 | 37 days | 2,108 sqft |
| 2021-10-01 | 42 days | 2,117 sqft |
| 2021-11-01 | 44 days | 2,095 sqft |
| 2021-12-01 | 51 days | 2,094 sqft |
| 2022-01-01 | 48 days | 2,085 sqft |
| 2022-02-01 | 34 days | 2,215 sqft |
| 2022-03-01 | 27 days | 2,153 sqft |
| 2022-04-01 | 27 days | 2,134 sqft |
Lubbock's median square footage for active listings during the 2022-04-01 period was 2,134 sqft. One year prior, the average listing was 2,214 sqft.
