Mcminnville USDA Loan Rates, Closing Costs & Stats

McMinnville, 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.

Mcminnville's 16 lenders originated 30 USDA loans during 2024. The total origination value was $6,990,000, with an average USDA loan value of $233,000.

Mcminnville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Mcminnville averaged 0.05% for the week of 2025-06-20, compared to the national average (all USDA variants) of 0% for the same period.

Mcminnville's average USDA mortgage closing costs are $5,392.

The average rate for the prior week (2025-06-13) was 6.45% and one month ago for the week of 2025-05-16, the average rate was 6.51%.

The average rate one year ago was 6.53%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.36%.

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

Mcminnville 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 Mcminnville level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
The First National Bank of Middle Tennessee 5 6.13% $6,591
Renasant Bank 5 6.45% $7,321
CMG MORTGAGE, INC. 3 6.46% $8,556
FIRST COMMUNITY MORTGAGE, INC. 3 6.21% $7,056
Citizens Tri-County Bank 2 5.94% $8,182
Ixonia Bank 1 6.75% $7,356
MORTGAGE INVESTORS GROUP, INC. 1 6.25% $7,220
SeaTrust Mortgage Company 1 6.63% $9,553
SWBC MORTGAGE CORPORATION 1 6.25% $3,465
TENNESSEE TRUST MORTGAGE, INC 1 5.99% $5,872
AMERICAN FINANCIAL RESOURCES, INC. 1 6.00% $11,750
Wilson Bank And Trust 1 6.49% $3,454
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.99% $13,391
FirstBank 1 6.13% $9,979
Flagstar Bank, FSB 1 6.47% $5,211
GUARANTEED RATE, INC. 1 6.60% $6,727

The top Mcminnville USDA lender as defined by loan originations is The First National Bank of Middle Tennessee, with 5 USDA loans originated. Their average total fees are $6,591, which is $730 lower than the next largest lender, Renasant Bank.

The lowest fee Mcminnville USDA lenders (with over 10 loans originated) are .

The lowest rate Mcminnville USDA lenders (with over 10 loans originated) are .