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 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
-0.17%
for the week of 2024-11-15, compared to the national average (all USDA variants) of
0% for the same period.
Lubbock's average USDA mortgage closing costs are $5,677.
The average rate for the prior week (2024-11-08) was
6.28% and
one month ago for the week of 2024-10-11, the
average rate was 6.04%.
The average rate one year ago was 7.17%.
For refis of the same type during the week of 2024-11-15, the average rate
was 0.31%.
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 |
| 2024-04-01 | $268,500 (-14.8%) | $437,337 (18.1%) | 0.62 | 1,339 |
| 2024-05-01 | $268,000 (-11.3%) | $337,439 (-7.5%) | 0.61 | 1,541 |
| 2024-06-01 | $268,950 (-12.8%) | $341,861 (-5.6%) | 0.60 | 1,765 |
| 2024-07-01 | $259,500 (-14.6%) | $336,930 (-7.6%) | 0.59 | 1,968 |
| 2024-08-01 | $255,000 (-13.6%) | $329,810 (-8.8%) | 0.59 | 2,090 |
| 2024-09-01 | $248,950 (-13.5%) | $328,762 (-6.6%) | 0.59 | 1,594 |
| 2024-10-01 | $246,575 (-9.8%) | $329,929 (-3.6%) | 0.58 | 1,571 |
Lubbock's median listing price comes in at 58% of the national average.
Lubbock's average listing price for 2024-10-01 was $329,929, a difference of $-12,419 (-3.6%) versus the prior year and $1,167 versus the prior month.
For the 2024-10-01 period, Lubbock had 1,571 MLS listings, a difference of -23 listings (-1%) versus the prior month and 304 listings (24%) 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 |
| 2024-04-01 | 39 days | 1,900 sqft |
| 2024-05-01 | 43 days | 1,894 sqft |
| 2024-06-01 | 61 days | 1,913 sqft |
| 2024-07-01 | 80 days | 1,891 sqft |
| 2024-08-01 | 93 days | 1,873 sqft |
| 2024-09-01 | 48 days | 1,856 sqft |
| 2024-10-01 | 52 days | 1,858 sqft |
Lubbock's median square footage for active listings during the 2024-10-01 period was 1,858 sqft. One year prior, the average listing was 1,899 sqft.