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 17 lenders originated 37 USDA loans during 2023. The total origination value was $8,335,000, with an average USDA loan value of $225,270.
Mcminnville USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Mcminnville
averaged
-0.25%
for the week of 2024-11-29, compared to the national average (all USDA variants) of
0% for the same period.
Mcminnville's average USDA mortgage closing costs are $5,253.
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 6.25%.
The average rate one year ago was 6.86%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.2%.
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
Renasant Bank | 8 | 6.28% | $6,658 |
CMG MORTGAGE, INC. | 8 | 6.14% | $8,772 |
Legends Bank | 2 | 6.75% | $7,753 |
UNITED WHOLESALE MORTGAGE, LLC | 2 | 6.57% | $6,351 |
FIRST COMMUNITY MORTGAGE, INC. | 2 | 6.31% | $7,151 |
BROKER SOLUTIONS, INC. | 2 | 6.19% | $8,530 |
SeaTrust Mortgage Company | 2 | 5.69% | $8,479 |
SWBC MORTGAGE CORPORATION | 1 | 6.75% | $5,042 |
The First National Bank of Middle Tennessee | 1 | 6.38% | $11,154 |
AMCAP MORTGAGE, LTD. | 1 | 5.88% | $9,522 |
U.S. Bank | 1 | 5.88% | $7,869 |
Century Mortgage Company DBA Century Lending Company | 1 | 7.13% | $5,703 |
FirstBank | 1 | 5.63% | $8,430 |
FirstTrust Home Loans, Inc. | 1 | 6.25% | $10,289 |
GUARANTY MORTGAGE SERVICES, L.L.C. | 1 | 7.25% | $10,297 |
Magnolia Bank | 1 | 6.50% | $4,559 |
SECURITYNATIONAL MORTGAGE COMPANY | 1 | 6.00% | $12,150 |
The top Mcminnville USDA lender as defined by loan originations is Renasant Bank, with
8 USDA loans originated. Their average total fees are
$6,658, which is $2,114
lower than the next largest lender,
CMG MORTGAGE, INC..
The lowest fee Mcminnville USDA lenders (with over 10 loans originated) are
.
The lowest rate Mcminnville USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Mcminnville (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 | $182,300 (48.9%) | $280,673 (37.5%) | 0.00 | 119 |
2018-02-01 | $189,125 (44.2%) | $290,380 (33.6%) | 0.00 | 114 |
2018-03-01 | $197,400 (65.4%) | $286,217 (34.2%) | 0.00 | 116 |
2018-04-01 | $191,200 (51.5%) | $284,010 (30.3%) | 0.00 | 127 |
2018-05-01 | $194,900 (45.3%) | $290,202 (24.5%) | 0.00 | 129 |
2018-06-01 | $190,950 (41.5%) | $276,310 (13.3%) | 0.00 | 136 |
2018-07-01 | $199,925 (33.4%) | $294,114 (17.4%) | 0.00 | 127 |
2018-08-01 | $201,200 (28.1%) | $284,237 (12.3%) | 0.00 | 141 |
2018-09-01 | $185,000 (19.4%) | $272,848 (8.0%) | 0.00 | 148 |
2018-10-01 | $193,100 (18.8%) | $274,616 (2.6%) | 0.00 | 152 |
2018-11-01 | $199,900 (12.7%) | $282,686 (1.1%) | 0.00 | 154 |
2018-12-01 | $199,900 (2.9%) | $280,774 (-2.6%) | 0.00 | 151 |
2019-01-01 | $199,900 (9.7%) | $283,183 (0.9%) | 0.00 | 138 |
2019-02-01 | $197,725 (4.6%) | $281,519 (-3.1%) | 0.00 | 132 |
2019-03-01 | $207,071 (4.9%) | $283,122 (-1.1%) | 0.00 | 119 |
2019-04-01 | $200,846 (5.1%) | $279,418 (-1.6%) | 0.00 | 117 |
2019-05-01 | $234,400 (20.3%) | $295,143 (1.7%) | 0.00 | 126 |
2019-06-01 | $229,900 (20.4%) | $295,917 (7.1%) | 0.00 | 115 |
2019-07-01 | $237,075 (18.6%) | $301,351 (2.5%) | 0.00 | 112 |
2019-08-01 | $262,564 (30.5%) | $316,042 (11.2%) | 0.00 | 110 |
2019-09-01 | $247,734 (33.9%) | $310,485 (13.8%) | 0.00 | 120 |
2019-10-01 | $234,350 (21.4%) | $303,744 (10.6%) | 0.00 | 128 |
2019-11-01 | $215,000 (7.6%) | $290,941 (2.9%) | 0.00 | 129 |
2019-12-01 | $212,000 (6.1%) | $294,831 (5.0%) | 0.00 | 116 |
2020-01-01 | $193,225 (-3.3%) | $270,442 (-4.5%) | 0.00 | 114 |
2020-02-01 | $188,250 (-4.8%) | $265,448 (-5.7%) | 0.00 | 102 |
2020-03-01 | $190,725 (-7.9%) | $283,860 (0.3%) | 0.00 | 96 |
2020-04-01 | $194,500 (-3.2%) | $288,346 (3.2%) | 0.00 | 97 |
2020-05-01 | $199,000 (-15.1%) | $299,984 (1.6%) | 0.00 | 98 |
2020-06-01 | $203,675 (-11.4%) | $323,598 (9.4%) | 0.00 | 77 |
2020-07-01 | $212,225 (-10.5%) | $342,755 (13.7%) | 0.00 | 76 |
2020-08-01 | $229,900 (-12.4%) | $347,617 (10.0%) | 0.00 | 71 |
2020-09-01 | $236,750 (-4.4%) | $366,626 (18.1%) | 0.00 | 74 |
2020-10-01 | $245,000 (4.5%) | $395,846 (30.3%) | 0.00 | 64 |
2020-11-01 | $247,450 (15.1%) | $397,157 (36.5%) | 0.00 | 69 |
2020-12-01 | $264,613 (24.8%) | $421,261 (42.9%) | 0.00 | 62 |
2021-01-01 | $249,500 (29.1%) | $439,105 (62.4%) | 0.00 | 56 |
2021-02-01 | $251,888 (33.8%) | $425,426 (60.3%) | 0.00 | 50 |
2021-03-01 | $309,800 (62.4%) | $550,072 (93.8%) | 0.00 | 39 |
2021-04-01 | $349,900 (79.9%) | $543,012 (88.3%) | 0.00 | 34 |
2021-05-01 | $339,000 (70.4%) | $494,339 (64.8%) | 0.00 | 42 |
2021-06-01 | $307,450 (51.0%) | $488,593 (51.0%) | 0.00 | 52 |
2021-07-01 | $294,500 (38.8%) | $399,565 (16.6%) | 0.00 | 67 |
2021-08-01 | $321,575 (39.9%) | $428,526 (23.3%) | 0.00 | 76 |
2021-09-01 | $349,900 (47.8%) | $454,100 (23.9%) | 0.00 | 76 |
2021-10-01 | $329,900 (34.7%) | $425,948 (7.6%) | 0.00 | 80 |
2021-11-01 | $256,980 (3.9%) | $345,166 (-13.1%) | 0.00 | 83 |
2021-12-01 | $259,675 (-1.9%) | $329,154 (-21.9%) | 0.00 | 75 |
2022-01-01 | $269,900 (8.2%) | $327,498 (-25.4%) | 0.00 | 69 |
2022-02-01 | $287,175 (14.0%) | $378,377 (-11.1%) | 0.00 | 58 |
2022-03-01 | $297,100 (-4.1%) | $370,372 (-32.7%) | 0.00 | 60 |
2022-04-01 | $299,900 (-14.3%) | $406,669 (-25.1%) | 0.00 | 70 |
2022-05-01 | $307,450 (-9.3%) | $442,497 (-10.5%) | 0.00 | 72 |
2022-06-01 | $312,450 (1.6%) | $515,228 (5.5%) | 0.00 | 102 |
2022-07-01 | $299,900 (1.8%) | $520,660 (30.3%) | 0.00 | 118 |
2022-08-01 | $319,908 (-0.5%) | $521,188 (21.6%) | 0.00 | 119 |
2022-09-01 | $321,150 (-8.2%) | $511,639 (12.7%) | 0.00 | 124 |
2022-10-01 | $344,900 (4.6%) | $522,023 (22.6%) | 0.00 | 132 |
2022-11-01 | $307,475 (19.7%) | $470,818 (36.4%) | 0.00 | 164 |
2022-12-01 | $310,000 (19.4%) | $463,081 (40.7%) | 0.00 | 148 |
2023-01-01 | $309,450 (14.7%) | $447,998 (36.8%) | 0.00 | 143 |
2023-02-01 | $307,400 (7.0%) | $419,175 (10.8%) | 0.00 | 138 |
2023-03-01 | $313,975 (5.7%) | $404,049 (9.1%) | 0.00 | 120 |
2023-04-01 | $344,900 (15.0%) | $428,762 (5.4%) | 0.00 | 122 |
2023-05-01 | $372,425 (21.1%) | $448,104 (1.3%) | 0.00 | 119 |
2023-06-01 | $376,150 (20.4%) | $452,628 (-12.2%) | 0.00 | 127 |
2023-07-01 | $356,200 (18.8%) | $503,772 (-3.2%) | 0.00 | 127 |
2023-08-01 | $359,675 (12.4%) | $494,398 (-5.1%) | 0.00 | 133 |
2023-09-01 | $349,700 (8.9%) | $478,377 (-6.5%) | 0.00 | 148 |
2023-10-01 | $345,900 (0.3%) | $466,752 (-10.6%) | 0.00 | 155 |
2023-11-01 | $345,224 (12.3%) | $460,916 (-2.1%) | 0.00 | 159 |
2023-12-01 | $345,450 (11.4%) | $459,391 (-0.8%) | 0.00 | 149 |
2024-01-01 | $347,600 (12.3%) | $453,389 (1.2%) | 0.00 | 140 |
2024-02-01 | $327,425 (6.5%) | $436,010 (4.0%) | 0.00 | 131 |
2024-03-01 | $325,000 (3.5%) | $434,148 (7.5%) | 0.00 | 141 |
2024-04-01 | $333,625 (-3.3%) | $431,744 (0.7%) | 0.00 | 160 |
2024-05-01 | $331,000 (-11.1%) | $419,013 (-6.5%) | 0.00 | 176 |
2024-06-01 | $329,900 (-12.3%) | $415,725 (-8.2%) | 0.00 | 189 |
2024-07-01 | $331,150 (-7.0%) | $411,826 (-18.3%) | 0.00 | 193 |
2024-08-01 | $325,000 (-9.6%) | $403,042 (-18.5%) | 0.00 | 191 |
2024-09-01 | $325,000 (-7.1%) | $400,238 (-16.3%) | 0.00 | 198 |
2024-10-01 | $329,900 (-4.6%) | $400,422 (-14.2%) | 0.00 | 207 |
Mcminnville's median listing price comes in at 0% of the national average.
Mcminnville's average listing price for 2024-10-01 was $400,422, a difference of $-66,330 (-14.2%) versus the prior year and $184 versus the prior month.
For the 2024-10-01 period, Mcminnville had 207 MLS listings, a difference of 9 listings (5%) versus the prior month and 52 listings (34%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Mcminnville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,870 sqft |
2018-02-01 | 0 days | 1,869 sqft |
2018-03-01 | 0 days | 1,908 sqft |
2018-04-01 | 0 days | 1,945 sqft |
2018-05-01 | 0 days | 1,888 sqft |
2018-06-01 | 0 days | 1,832 sqft |
2018-07-01 | 0 days | 1,928 sqft |
2018-08-01 | 0 days | 1,916 sqft |
2018-09-01 | 0 days | 1,730 sqft |
2018-10-01 | 0 days | 1,720 sqft |
2018-11-01 | 0 days | 1,816 sqft |
2018-12-01 | 0 days | 1,864 sqft |
2019-01-01 | 0 days | 1,918 sqft |
2019-02-01 | 0 days | 2,019 sqft |
2019-03-01 | 0 days | 1,912 sqft |
2019-04-01 | 0 days | 1,831 sqft |
2019-05-01 | 0 days | 2,028 sqft |
2019-06-01 | 0 days | 2,074 sqft |
2019-07-01 | 0 days | 2,082 sqft |
2019-08-01 | 0 days | 2,207 sqft |
2019-09-01 | 0 days | 2,178 sqft |
2019-10-01 | 0 days | 2,153 sqft |
2019-11-01 | 0 days | 2,021 sqft |
2019-12-01 | 0 days | 1,988 sqft |
2020-01-01 | 0 days | 1,814 sqft |
2020-02-01 | 0 days | 1,809 sqft |
2020-03-01 | 0 days | 1,811 sqft |
2020-04-01 | 0 days | 1,776 sqft |
2020-05-01 | 0 days | 1,795 sqft |
2020-06-01 | 0 days | 1,790 sqft |
2020-07-01 | 0 days | 1,867 sqft |
2020-08-01 | 0 days | 1,930 sqft |
2020-09-01 | 0 days | 1,862 sqft |
2020-10-01 | 0 days | 1,840 sqft |
2020-11-01 | 0 days | 1,878 sqft |
2020-12-01 | 0 days | 1,920 sqft |
2021-01-01 | 0 days | 1,924 sqft |
2021-02-01 | 0 days | 1,920 sqft |
2021-03-01 | 0 days | 2,127 sqft |
2021-04-01 | 0 days | 2,182 sqft |
2021-05-01 | 0 days | 2,055 sqft |
2021-06-01 | 0 days | 1,849 sqft |
2021-07-01 | 0 days | 1,766 sqft |
2021-08-01 | 0 days | 1,843 sqft |
2021-09-01 | 0 days | 1,920 sqft |
2021-10-01 | 0 days | 1,892 sqft |
2021-11-01 | 0 days | 1,608 sqft |
2021-12-01 | 0 days | 1,700 sqft |
2022-01-01 | 0 days | 1,728 sqft |
2022-02-01 | 0 days | 1,839 sqft |
2022-03-01 | 0 days | 1,849 sqft |
2022-04-01 | 0 days | 1,691 sqft |
2022-05-01 | 0 days | 1,576 sqft |
2022-06-01 | 0 days | 1,779 sqft |
2022-07-01 | 0 days | 1,743 sqft |
2022-08-01 | 0 days | 1,890 sqft |
2022-09-01 | 0 days | 1,822 sqft |
2022-10-01 | 0 days | 1,924 sqft |
2022-11-01 | 0 days | 1,848 sqft |
2022-12-01 | 0 days | 1,825 sqft |
2023-01-01 | 0 days | 1,777 sqft |
2023-02-01 | 0 days | 1,794 sqft |
2023-03-01 | 0 days | 1,778 sqft |
2023-04-01 | 0 days | 1,846 sqft |
2023-05-01 | 0 days | 1,924 sqft |
2023-06-01 | 0 days | 1,949 sqft |
2023-07-01 | 0 days | 1,929 sqft |
2023-08-01 | 0 days | 1,919 sqft |
2023-09-01 | 0 days | 1,819 sqft |
2023-10-01 | 0 days | 1,809 sqft |
2023-11-01 | 0 days | 1,724 sqft |
2023-12-01 | 0 days | 1,750 sqft |
2024-01-01 | 0 days | 1,712 sqft |
2024-02-01 | 0 days | 1,690 sqft |
2024-03-01 | 0 days | 1,660 sqft |
2024-04-01 | 0 days | 1,632 sqft |
2024-05-01 | 0 days | 1,644 sqft |
2024-06-01 | 0 days | 1,662 sqft |
2024-07-01 | 0 days | 1,640 sqft |
2024-08-01 | 0 days | 1,600 sqft |
2024-09-01 | 0 days | 1,647 sqft |
2024-10-01 | 0 days | 1,733 sqft |
Mcminnville's median square footage for active listings during the 2024-10-01 period was 1,733 sqft. One year prior, the average listing was 1,809 sqft.