Martin USDA Loan Rates, Closing Costs & Stats

Martin, TN

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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.

    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 -0.05% for the week of 2024-11-15, 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 (2024-11-08) was 6.4% and one month ago for the week of 2024-10-11, the average rate was 6.27%.

    The average rate one year ago was 7.19%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    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. Louis
    Date 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 for 2024-10-01 was $251,225, a difference of $-17,400 (-6.5%) versus the prior year and $1,225 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2024-10-01 was 0 days.

    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.