Nashville USDA Loan Rates, Closing Costs & Stats

NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, 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.

Nashville's 57 lenders originated 167 USDA loans during 2023. The total origination value was $47,085,000, with an average USDA loan value of $281,946.

Nashville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Nashville averaged 6.18% for the week of 2024-10-25, compared to the national average (all USDA variants) of 6.29% for the same period.

Nashville's average USDA mortgage closing costs are $5,848.

The average rate for the prior week (2024-10-18) was 5.76% and one month ago for the week of 2024-09-20, the average rate was 5.58%.

The average rate one year ago was 7.2%.

For refis of the same type during the week of 2024-10-25, the average rate was 6.49%.

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

Nashville 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 Nashville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 18 5.75% $10,751
CMG MORTGAGE, INC. 13 5.93% $9,338
DHI MORTGAGE COMPANY, LTD. 12 5.22% $5,372
NVR Mortgage Finance, Inc. 11 5.75% $7,690
FIRST COMMUNITY MORTGAGE, INC. 9 6.04% $10,641
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.05% $8,636
NEWREZ LLC 7 5.80% $7,630
MORTGAGE INVESTORS GROUP, INC. 7 5.89% $6,908
ACOPIA, LLC 6 5.98% $7,907
SeaTrust Mortgage Company 5 5.68% $10,023
INTERLINC MORTGAGE SERVICES, LLC 4 6.47% $4,091
HOMESIDE FINANCIAL, LLC 4 6.28% $8,496
First Vision Bank of Tennessee 3 5.92% $9,551
The Farmers Bank 3 5.63% $6,772
SUN WEST MORTGAGE COMPANY, INC. 2 6.56% $8,271
CapStar Bank 2 6.13% $9,490
FirstBank 2 6.13% $11,312
FIRST COLONY MORTGAGE CORPORATION 2 6.31% $7,206
Bank of Tennessee 2 7.18% $8,069
GUARANTEED RATE, INC. 2 6.13% $7,362
ISERVE RESIDENTIAL LENDING, LLC 2 6.63% $9,415
MOVEMENT MORTGAGE, LLC 2 6.75% $9,917
CHURCHILL MORTGAGE CORPORATION 2 6.13% $7,813
THRIVE MORTGAGE, LLC 2 6.25% $8,745
FLAT BRANCH MORTGAGE, INC. 1 6.25% $6,025
TOWNE MORTGAGE COMPANY 1 7.25% $7,939
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.13% $7,758
Wilson Bank And Trust 1 5.75% $5,994
Bank of England 1 6.38% $6,875
AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $10,199
LAND HOME FINANCIAL SERVICES, INC. 1 5.88% $6,951
Legacy Home Loans, LLC 1 5.63% $6,454
Ameris Bank 1 6.50% $8,156
Mortgage Research Center, LLC 1 5.25% $4,483
U.S. Bank 1 5.50% $5,531
MUTUAL OF OMAHA MORTGAGE, INC. 1 4.75% $10,472
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.13% $6,882
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.13% $7,985
PLANET HOME LENDING, LLC 1 5.63% $6,454
PLAZA HOME MORTGAGE, INC. 1 6.63% $7,820
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $6,205
Regions Bank 1 6.75% $5,353
RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 5.63% $7,058
AMERICAN FINANCIAL RESOURCES, INC. 1 4.75% $13,903
SHELTER LENDING SERVICES, L.L.C. 1 6.75% $10,890
SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $8,733
VAN DYK MORTGAGE CORPORATION 1 5.88% $5,432
SWBC MORTGAGE CORPORATION 1 6.13% $2,853
EAGLE HOME MORTGAGE, LLC 1 4.99% $9,049
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 7.38% $11,794
TENNESSEE TRUST MORTGAGE, INC 1 6.25% $5,675
Fifth Third Bank 1 5.38% $10,707
CROSSCOUNTRY MORTGAGE, LLC 1 7.00% $7,354
The First National Bank of Middle Tennessee 1 7.13% $8,728
Citizens Bank 1 5.25% $9,622
CARDINAL FINANCIAL 1 5.25% $11,337
Flagstar Bank, FSB 1 5.75% $10,021

The top Nashville USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 18 USDA loans originated. Their average total fees are $10,751, which is $1,414 higher than the next largest lender, CMG MORTGAGE, INC..

The lowest fee Nashville USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($5,372), NVR Mortgage Finance, Inc. ($7,690), CMG MORTGAGE, INC. ($9,338), UNITED WHOLESALE MORTGAGE, LLC ($10,751) and .

The lowest rate Nashville USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.22%), NVR Mortgage Finance, Inc. (5.75%), UNITED WHOLESALE MORTGAGE, LLC (5.75%), CMG MORTGAGE, INC. (5.93%) and .