Martin USDA Loan Rates, Closing Costs & Stats
Martin, TN
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.
Martin's 8 lenders originated 18 USDA loans during 2023. The total origination value was $2,490,000, with an average USDA loan value of $138,333.
Martin USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Martin
averaged
-0.15%
for the week of 2024-11-29, compared to the national average (all USDA variants) of
0% for the same period.
Martin's average USDA mortgage closing costs are $4,387.
The average rate for the prior week (2024-11-22) was
6.55% and
one month ago for the week of 2024-10-25, the
average rate was 6.35%.
The average rate one year ago was 6.95%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.1%.
Martin 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 Martin level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
FIRST COMMUNITY MORTGAGE, INC. | 3 | 6.38% | $6,431 |
Simmons Bank | 2 | 6.81% | $4,150 |
MORTGAGE INVESTORS GROUP, INC. | 2 | 6.56% | $6,322 |
SWBC MORTGAGE CORPORATION | 1 | 5.88% | $6,457 |
First Citizens National Bank | 1 | 5.88% | $5,620 |
TOWNE MORTGAGE COMPANY | 1 | 7.00% | $5,140 |
Legends Bank | 1 | 7.13% | $3,958 |
Mortgage Research Center, LLC | 1 | 6.25% | $2,895 |
The top Martin USDA lender as defined by loan originations is FIRST COMMUNITY MORTGAGE, INC., with
3 USDA loans originated. Their average total fees are
$6,431, which is $2,281
higher than the next largest lender,
Simmons Bank.
The lowest fee Martin USDA lenders (with over 10 loans originated) are
.
The lowest rate Martin USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Martin (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $121,000 (-3.6%) | $139,717 (0.8%) | 0.00 | 135 |
2018-02-01 | $119,600 (-6.9%) | $137,446 (-2.3%) | 0.00 | 136 |
2018-03-01 | $119,900 (-4.3%) | $138,134 (-0.7%) | 0.00 | 136 |
2018-04-01 | $119,900 (-5.4%) | $135,724 (-3.7%) | 0.00 | 137 |
2018-05-01 | $128,850 (1.3%) | $138,890 (-0.7%) | 0.00 | 132 |
2018-06-01 | $126,900 (0.2%) | $141,116 (3.5%) | 0.00 | 134 |
2018-07-01 | $128,025 (5.5%) | $143,516 (7.2%) | 0.00 | 131 |
2018-08-01 | $135,925 (8.8%) | $149,135 (6.8%) | 0.00 | 125 |
2018-09-01 | $139,500 (12.1%) | $156,894 (11.0%) | 0.00 | 120 |
2018-10-01 | $138,000 (15.2%) | $154,453 (11.7%) | 0.00 | 112 |
2018-11-01 | $139,925 (17.0%) | $156,642 (15.7%) | 0.00 | 111 |
2018-12-01 | $139,900 (24.9%) | $158,480 (19.3%) | 0.00 | 103 |
2019-01-01 | $137,450 (13.6%) | $161,006 (15.2%) | 0.00 | 100 |
2019-02-01 | $134,995 (12.9%) | $158,739 (15.5%) | 0.00 | 103 |
2019-03-01 | $139,583 (16.4%) | $163,382 (18.3%) | 0.00 | 91 |
2019-04-01 | $139,785 (16.6%) | $167,088 (23.1%) | 0.00 | 77 |
2019-05-01 | $145,850 (13.2%) | $171,128 (23.2%) | 0.00 | 74 |
2019-06-01 | $139,500 (9.9%) | $160,259 (13.6%) | 0.00 | 77 |
2019-07-01 | $143,375 (12.0%) | $166,028 (15.7%) | 0.00 | 71 |
2019-08-01 | $149,364 (9.9%) | $167,088 (12.0%) | 0.00 | 66 |
2019-09-01 | $152,534 (9.3%) | $167,628 (6.8%) | 0.00 | 67 |
2019-10-01 | $152,148 (10.3%) | $166,801 (8.0%) | 0.00 | 67 |
2019-11-01 | $151,250 (8.1%) | $165,011 (5.3%) | 0.00 | 69 |
2019-12-01 | $129,950 (-7.1%) | $163,603 (3.2%) | 0.00 | 70 |
2020-01-01 | $128,450 (-6.6%) | $152,075 (-5.6%) | 0.00 | 69 |
2020-02-01 | $124,450 (-7.8%) | $147,023 (-7.4%) | 0.00 | 64 |
2020-03-01 | $128,225 (-8.1%) | $156,636 (-4.1%) | 0.00 | 66 |
2020-04-01 | $119,900 (-14.2%) | $161,817 (-3.2%) | 0.00 | 67 |
2020-05-01 | $134,900 (-7.5%) | $178,616 (4.4%) | 0.00 | 53 |
2020-06-01 | $157,400 (12.8%) | $199,034 (24.2%) | 0.00 | 49 |
2020-07-01 | $139,900 (-2.4%) | $195,049 (17.5%) | 0.00 | 46 |
2020-08-01 | $129,999 (-13.0%) | $191,011 (14.3%) | 0.00 | 48 |
2020-09-01 | $122,500 (-19.7%) | $199,376 (18.9%) | 0.00 | 52 |
2020-10-01 | $129,900 (-14.6%) | $217,455 (30.4%) | 0.00 | 51 |
2020-11-01 | $134,200 (-11.3%) | $219,357 (32.9%) | 0.00 | 45 |
2020-12-01 | $139,450 (7.3%) | $251,323 (53.6%) | 0.00 | 34 |
2021-01-01 | $199,000 (54.9%) | $292,773 (92.5%) | 0.00 | 24 |
2021-02-01 | $209,450 (68.3%) | $326,668 (122.2%) | 0.00 | 18 |
2021-03-01 | $254,600 (98.6%) | $333,160 (112.7%) | 0.00 | 16 |
2021-04-01 | $259,700 (116.6%) | $314,111 (94.1%) | 0.00 | 19 |
2021-05-01 | $249,900 (85.3%) | $304,528 (70.5%) | 0.00 | 24 |
2021-06-01 | $225,750 (43.4%) | $326,448 (64.0%) | 0.00 | 22 |
2021-07-01 | $250,000 (78.7%) | $326,904 (67.6%) | 0.00 | 24 |
2021-08-01 | $225,000 (73.1%) | $293,517 (53.7%) | 0.00 | 37 |
2021-09-01 | $225,000 (83.7%) | $282,864 (41.9%) | 0.00 | 50 |
2021-10-01 | $227,500 (75.1%) | $288,264 (32.6%) | 0.00 | 45 |
2021-11-01 | $243,750 (81.6%) | $308,720 (40.7%) | 0.00 | 39 |
2021-12-01 | $222,500 (59.6%) | $267,556 (6.5%) | 0.00 | 35 |
2022-01-01 | $199,000 (0.0%) | $245,629 (-16.1%) | 0.00 | 30 |
2022-02-01 | $229,900 (9.8%) | $370,874 (13.5%) | 0.00 | 28 |
2022-03-01 | $225,000 (-11.6%) | $347,143 (4.2%) | 0.00 | 33 |
2022-04-01 | $257,400 (-0.9%) | $450,344 (43.4%) | 0.00 | 29 |
2022-05-01 | $267,000 (6.8%) | $427,567 (40.4%) | 0.00 | 32 |
2022-06-01 | $289,950 (28.4%) | $430,720 (31.9%) | 0.00 | 39 |
2022-07-01 | $299,450 (19.8%) | $416,836 (27.5%) | 0.00 | 40 |
2022-08-01 | $272,175 (21.0%) | $390,942 (33.2%) | 0.00 | 42 |
2022-09-01 | $219,625 (-2.4%) | $407,136 (43.9%) | 0.00 | 46 |
2022-10-01 | $209,950 (-7.7%) | $378,945 (31.5%) | 0.00 | 54 |
2022-11-01 | $234,725 (-3.7%) | $368,742 (19.4%) | 0.00 | 52 |
2022-12-01 | $240,000 (7.9%) | $358,104 (33.8%) | 0.00 | 50 |
2023-01-01 | $233,425 (17.3%) | $238,238 (-3.0%) | 0.00 | 48 |
2023-02-01 | $204,900 (-10.9%) | $232,299 (-37.4%) | 0.00 | 49 |
2023-03-01 | $212,450 (-5.6%) | $244,178 (-29.7%) | 0.00 | 48 |
2023-04-01 | $215,000 (-16.5%) | $253,595 (-43.7%) | 0.00 | 56 |
2023-05-01 | $220,950 (-17.3%) | $262,996 (-38.5%) | 0.00 | 51 |
2023-06-01 | $250,975 (-13.4%) | $329,651 (-23.5%) | 0.00 | 45 |
2023-07-01 | $249,900 (-16.6%) | $325,012 (-22.0%) | 0.00 | 44 |
2023-08-01 | $268,975 (-1.2%) | $328,238 (-16.0%) | 0.00 | 39 |
2023-09-01 | $268,500 (22.3%) | $316,513 (-22.3%) | 0.00 | 44 |
2023-10-01 | $268,625 (28.0%) | $333,027 (-12.1%) | 0.00 | 58 |
2023-11-01 | $269,100 (14.6%) | $332,738 (-9.8%) | 0.00 | 64 |
2023-12-01 | $252,000 (5.0%) | $316,695 (-11.6%) | 0.00 | 62 |
2024-01-01 | $266,975 (14.4%) | $347,495 (45.9%) | 0.00 | 50 |
2024-02-01 | $262,200 (28.0%) | $336,832 (45.0%) | 0.00 | 50 |
2024-03-01 | $254,950 (20.0%) | $331,827 (35.9%) | 0.00 | 56 |
2024-04-01 | $249,750 (16.2%) | $338,838 (33.6%) | 0.00 | 59 |
2024-05-01 | $249,925 (13.1%) | $340,003 (29.3%) | 0.00 | 62 |
2024-06-01 | $239,900 (-4.4%) | $331,047 (0.4%) | 0.00 | 70 |
2024-07-01 | $253,675 (1.5%) | $336,353 (3.5%) | 0.00 | 80 |
2024-08-01 | $275,000 (2.2%) | $342,645 (4.4%) | 0.00 | 83 |
2024-09-01 | $250,000 (-6.9%) | $329,399 (4.1%) | 0.00 | 84 |
2024-10-01 | $251,225 (-6.5%) | $313,592 (-5.8%) | 0.00 | 89 |
Martin's median listing price comes in at 0% of the national average.
Martin's average listing price for 2024-10-01 was $313,592, a difference of $-19,435 (-5.8%) versus the prior year and $-15,807 versus the prior month.
For the 2024-10-01 period, Martin had 89 MLS listings, a difference of 5 listings (6%) versus the prior month and 31 listings (53%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Martin (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,819 sqft |
2018-02-01 | 0 days | 1,823 sqft |
2018-03-01 | 0 days | 1,806 sqft |
2018-04-01 | 0 days | 1,805 sqft |
2018-05-01 | 0 days | 1,847 sqft |
2018-06-01 | 0 days | 1,857 sqft |
2018-07-01 | 0 days | 1,813 sqft |
2018-08-01 | 0 days | 1,814 sqft |
2018-09-01 | 0 days | 1,831 sqft |
2018-10-01 | 0 days | 1,808 sqft |
2018-11-01 | 0 days | 1,740 sqft |
2018-12-01 | 0 days | 1,791 sqft |
2019-01-01 | 0 days | 1,758 sqft |
2019-02-01 | 0 days | 1,699 sqft |
2019-03-01 | 0 days | 1,753 sqft |
2019-04-01 | 0 days | 1,745 sqft |
2019-05-01 | 0 days | 1,836 sqft |
2019-06-01 | 0 days | 1,797 sqft |
2019-07-01 | 0 days | 1,891 sqft |
2019-08-01 | 0 days | 1,875 sqft |
2019-09-01 | 0 days | 1,862 sqft |
2019-10-01 | 0 days | 1,840 sqft |
2019-11-01 | 0 days | 1,689 sqft |
2019-12-01 | 0 days | 1,788 sqft |
2020-01-01 | 0 days | 1,734 sqft |
2020-02-01 | 0 days | 1,644 sqft |
2020-03-01 | 0 days | 1,649 sqft |
2020-04-01 | 0 days | 1,644 sqft |
2020-05-01 | 0 days | 1,650 sqft |
2020-06-01 | 0 days | 1,658 sqft |
2020-07-01 | 0 days | 1,617 sqft |
2020-08-01 | 0 days | 1,636 sqft |
2020-09-01 | 0 days | 1,638 sqft |
2020-10-01 | 0 days | 1,643 sqft |
2020-11-01 | 0 days | 1,712 sqft |
2020-12-01 | 0 days | 1,655 sqft |
2021-01-01 | 0 days | 2,013 sqft |
2021-02-01 | 0 days | 1,787 sqft |
2021-03-01 | 0 days | 1,619 sqft |
2021-04-01 | 0 days | 2,189 sqft |
2021-05-01 | 0 days | 2,127 sqft |
2021-06-01 | 0 days | 2,128 sqft |
2021-07-01 | 0 days | 2,146 sqft |
2021-08-01 | 0 days | 2,108 sqft |
2021-09-01 | 0 days | 2,034 sqft |
2021-10-01 | 0 days | 2,067 sqft |
2021-11-01 | 0 days | 2,076 sqft |
2021-12-01 | 0 days | 2,072 sqft |
2022-01-01 | 0 days | 2,063 sqft |
2022-02-01 | 0 days | 2,034 sqft |
2022-03-01 | 0 days | 2,055 sqft |
2022-04-01 | 0 days | 2,014 sqft |
2022-05-01 | 0 days | 2,000 sqft |
2022-06-01 | 0 days | 2,050 sqft |
2022-07-01 | 0 days | 2,070 sqft |
2022-08-01 | 0 days | 2,056 sqft |
2022-09-01 | 0 days | 2,136 sqft |
2022-10-01 | 0 days | 1,992 sqft |
2022-11-01 | 0 days | 1,934 sqft |
2022-12-01 | 0 days | 1,833 sqft |
2023-01-01 | 0 days | 1,854 sqft |
2023-02-01 | 0 days | 1,813 sqft |
2023-03-01 | 0 days | 1,861 sqft |
2023-04-01 | 0 days | 1,749 sqft |
2023-05-01 | 0 days | 1,766 sqft |
2023-06-01 | 0 days | 2,098 sqft |
2023-07-01 | 0 days | 2,095 sqft |
2023-08-01 | 0 days | 2,095 sqft |
2023-09-01 | 0 days | 2,000 sqft |
2023-10-01 | 0 days | 1,996 sqft |
2023-11-01 | 0 days | 1,914 sqft |
2023-12-01 | 0 days | 1,868 sqft |
2024-01-01 | 0 days | 1,873 sqft |
2024-02-01 | 0 days | 1,864 sqft |
2024-03-01 | 0 days | 1,933 sqft |
2024-04-01 | 0 days | 1,875 sqft |
2024-05-01 | 0 days | 1,906 sqft |
2024-06-01 | 0 days | 1,870 sqft |
2024-07-01 | 0 days | 1,919 sqft |
2024-08-01 | 0 days | 1,902 sqft |
2024-09-01 | 0 days | 1,838 sqft |
2024-10-01 | 0 days | 1,807 sqft |
Martin's median square footage for active listings during the 2024-10-01 period was 1,807 sqft. One year prior, the average listing was 1,996 sqft.