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 89 lenders originated 338 USDA loans during 2022. The total origination value was $92,220,000, with an average USDA loan value of $272,840.

Nashville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Nashville averaged 6.32% for the week of 2024-02-16, compared to the national average (all USDA variants) of 6.685% for the same period.

Nashville's average USDA mortgage closing costs are $5,739.

The average rate for the prior week (2024-02-09) was 5.96% and one month ago for the week of 2024-01-12, the average rate was 6.18%.

The average rate one year ago was 5.61%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.25%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 23 4.84% $8,976
CMG MORTGAGE, INC. 20 4.84% $8,830
NVR Mortgage Finance, Inc. 18 3.37% $8,579
FIRST COMMUNITY MORTGAGE, INC. 15 4.38% $7,787
HOME POINT FINANCIAL CORPORATION 15 3.86% $6,930
MORTGAGE INVESTORS GROUP, INC. 14 4.79% $6,463
PRIMARY RESIDENTIAL MORTGAGE, INC. 10 4.49% $8,445
ACOPIA, LLC 7 4.02% $6,171
GUARANTY HOME MORTGAGE CORPORATION 7 3.84% $7,083
First Horizon Bank 7 4.14% $6,947
First Federal Bank 7 4.34% $8,277
DHI MORTGAGE COMPANY, LTD. 7 3.50% $5,421
CALIBER HOME LOANS, INC. 6 3.42% $7,191
Bank of England 6 5.56% $6,242
FirstBank 6 4.35% $6,052
SUCCESS MORTGAGE PARTNERS, INC. 6 5.17% $8,334
EUSTIS AND AMERICAN MORTGAGE COMPANY 5 5.18% $7,417
CapStar Bank 5 4.85% $8,547
Pinnacle Bank 5 4.38% $7,665
LOANDEPOT.COM, LLC 5 4.38% $7,809
Colten Mortgage, LLC 5 4.03% $6,147
The Farmers Bank 5 3.65% $6,140
Legends Bank 4 3.31% $4,288
CROSSCOUNTRY MORTGAGE, LLC 4 4.78% $10,043
MOVEMENT MORTGAGE, LLC 4 4.06% $9,775
PENNYMAC LOAN SERVICES, LLC 4 2.89% $7,102
Wilson Bank And Trust 4 5.09% $3,571
SWBC MORTGAGE CORPORATION 4 5.56% $6,484
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 3.19% $5,980
The First National Bank of Middle Tennessee 4 3.66% $7,059
The Home Loan Expert LLC 4 5.25% $7,605
VANDERBILT MORTGAGE AND FINANCE, INC. 3 3.63% $8,765
AMERICAN MORTGAGE SERVICE COMPANY 3 4.54% $6,571
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 4.38% $8,044
DAS Acquisition Company, LLC 3 3.25% $7,091
THE MORTGAGE FIRM, INC. 3 4.79% $7,396
GUARANTEED RATE, INC. 3 5.00% $9,426
First Vision Bank of Tennessee 3 4.79% $8,257
EVERETT FINANCIAL, INC. 2 5.63% $6,103
CASTLE & COOKE MORTGAGE, LLC 2 4.88% $7,020
Austin Capital Bank SSB 2 3.63% $6,787
LAND HOME FINANCIAL SERVICES, INC. 2 4.19% $5,192
Legacy Home Loans, LLC 2 4.56% $6,313
CHURCHILL MORTGAGE CORPORATION 2 4.81% $6,763
Ameris Bank 2 4.75% $8,666
F&M Bank 2 5.50% $10,372
CARDINAL FINANCIAL 2 5.50% $10,878
EAGLE HOME MORTGAGE, LLC 2 5.06% $9,276
Atlantic Union Bank 2 4.63% $8,986
HOMESIDE FINANCIAL, LLC 2 6.38% $12,656
STOCKTON MORTGAGE CORPORATION 2 5.63% $7,103
U.S. Bank 2 4.31% $6,323
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 2.88% $4,897
CERTAINTY HOME LOANS, LLC 1 3.75% $5,891
CIS Financial Services, Inc. 1 4.50% $6,025
COMMUNITY MORTGAGE CORPORATION 1 2.75% $5,439
DELMAR FINANCIAL COMPANY 1 4.63% $6,718
EVANSVILLE TEACHERS 1 3.50% $7,550
Bell Bank 1 5.63% $7,995
First Guaranty Mortgage Corporation 1 3.13% $5,790
Flagstar Bank, FSB 1 3.75% $5,735
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.63% $8,981
GUARANTY MORTGAGE SERVICES, L.L.C. 1 3.13% $9,678
HAMILTON HOME LOANS, INC. 1 3.63% $8,890
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.38% $2,529
Hometown Equity Mortgage, LLC 1 6.50% $14,180
INSPIRE HOME LOANS INC. 1 3.25% $12,009
INTERLINC MORTGAGE SERVICES, LLC 1 5.75% $2,939
Ixonia Bank 1 5.63% $10,295
KELLEY MORTGAGE, LLC 1 4.00% $1,610
MID AMERICA MORTGAGE, INC. 1 6.13% $4,563
AmRes Corporation 1 2.50% $8,216
NATIONS RELIABLE LENDING, LLC 1 5.75% $10,343
NEWREZ LLC 1 6.75% $10,943
PLANET HOME LENDING, LLC 1 5.38% $6,891
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $10,766
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 4.75% $10,172
Regions Bank 1 3.50% $8,315
RELIANCE FIRST CAPITAL, LLC 1 3.25% $2,534
SeaTrust Mortgage Company 1 6.50% $9,191
Simmons Bank 1 5.63% $7,948
SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.50% $3,479
SOUTHWEST FUNDING, LP 1 6.75% $14,553
Synovus Bank 1 2.75% $6,310
T2 FINANCIAL LLC 1 4.13% $5,470
TENNESSEE TRUST MORTGAGE, INC 1 6.00% $8,203
Truist 1 5.00% $7,158
United Community Bank 1 4.75% $4,636
Christensen Financial, Inc. 1 3.38% $10,152

The top Nashville USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 23 USDA loans originated. Their average total fees are $8,976, which is $146 higher than the next largest lender, CMG MORTGAGE, INC..

The lowest fee Nashville USDA lenders (with over 10 loans originated) are MORTGAGE INVESTORS GROUP, INC. ($6,463), HOME POINT FINANCIAL CORPORATION ($6,930), FIRST COMMUNITY MORTGAGE, INC. ($7,787), PRIMARY RESIDENTIAL MORTGAGE, INC. ($8,445) and NVR Mortgage Finance, Inc. ($8,579).

The lowest rate Nashville USDA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. (3.37%), HOME POINT FINANCIAL CORPORATION (3.86%), FIRST COMMUNITY MORTGAGE, INC. (4.38%), PRIMARY RESIDENTIAL MORTGAGE, INC. (4.49%) and MORTGAGE INVESTORS GROUP, INC. (4.79%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Nashville (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 $381,445 (12.3%) $527,824 (12.0%) 1.41 5,944
2018-02-01 $379,990 (10.1%) $524,195 (9.9%) 1.38 5,956
2018-03-01 $384,900 (9.9%) $532,499 (9.6%) 1.35 5,977
2018-04-01 $387,000 (9.0%) $538,094 (8.4%) 1.31 6,369
2018-05-01 $384,900 (-1.3%) $536,144 (-4.9%) 1.29 6,893
2018-06-01 $378,950 (-2.8%) $530,222 (-5.4%) 1.26 7,400
2018-07-01 $372,338 (-3.3%) $525,078 (-4.6%) 1.24 7,970
2018-08-01 $368,800 (-4.6%) $517,655 (-4.6%) 1.24 8,204
2018-09-01 $364,900 (-6.0%) $507,947 (-5.7%) 1.23 8,850
2018-10-01 $359,450 (-5.7%) $503,917 (-5.0%) 1.22 9,208
2018-11-01 $353,050 (-7.1%) $501,146 (-5.0%) 1.20 9,137
2018-12-01 $355,000 (-6.6%) $504,053 (-4.9%) 1.22 8,520
2019-01-01 $355,768 (-6.7%) $502,969 (-4.7%) 1.23 8,044
2019-02-01 $359,250 (-5.5%) $506,343 (-3.4%) 1.21 7,816
2019-03-01 $364,186 (-5.4%) $520,263 (-2.3%) 1.19 7,618
2019-04-01 $369,900 (-4.4%) $532,015 (-1.1%) 1.17 7,551
2019-05-01 $372,750 (-3.2%) $537,829 (0.3%) 1.17 7,838
2019-06-01 $375,900 (-0.8%) $546,541 (3.1%) 1.17 7,841
2019-07-01 $374,950 (0.7%) $543,749 (3.6%) 1.17 7,939
2019-08-01 $373,609 (1.3%) $544,908 (5.3%) 1.18 7,901
2019-09-01 $371,523 (1.8%) $546,579 (7.6%) 1.19 7,839
2019-10-01 $369,900 (2.9%) $545,793 (8.3%) 1.19 7,873
2019-11-01 $369,000 (4.5%) $543,453 (8.4%) 1.21 7,748
2019-12-01 $366,230 (3.2%) $540,403 (7.2%) 1.22 7,160
2020-01-01 $365,400 (2.7%) $538,415 (7.1%) 1.22 6,445
2020-02-01 $369,000 (2.7%) $543,447 (7.3%) 1.21 5,988
2020-03-01 $376,500 (3.4%) $547,973 (5.3%) 1.18 5,897
2020-04-01 $374,950 (1.4%) $536,982 (0.9%) 1.17 6,622
2020-05-01 $385,000 (3.3%) $558,168 (3.8%) 1.17 6,609
2020-06-01 $391,445 (4.1%) $577,439 (5.7%) 1.15 6,126
2020-07-01 $391,945 (4.5%) $589,264 (8.4%) 1.14 6,123
2020-08-01 $394,900 (5.7%) $608,088 (11.6%) 1.13 5,381
2020-09-01 $399,694 (7.6%) $604,219 (10.6%) 1.15 4,847
2020-10-01 $399,900 (8.1%) $618,071 (13.2%) 1.15 4,562
2020-11-01 $397,086 (7.6%) $618,994 (13.9%) 1.16 4,204
2020-12-01 $394,950 (7.8%) $622,948 (15.3%) 1.17 3,724
2021-01-01 $391,990 (7.3%) $621,941 (15.5%) 1.17 3,160
2021-02-01 $396,050 (7.3%) $649,479 (19.5%) 1.15 2,519
2021-03-01 $399,900 (6.2%) $661,310 (20.7%) 1.13 2,231
2021-04-01 $409,950 (9.3%) $688,509 (28.2%) 1.11 2,067
2021-05-01 $410,950 (6.7%) $720,270 (29.0%) 1.09 2,010
2021-06-01 $427,450 (9.2%) $754,910 (30.7%) 1.13 2,158
2021-07-01 $445,000 (13.5%) $776,242 (31.7%) 1.17 2,597
2021-08-01 $439,900 (11.4%) $762,231 (25.4%) 1.17 2,711
2021-09-01 $443,445 (11.0%) $765,713 (26.7%) 1.18 2,858
2021-10-01 $454,900 (13.8%) $776,942 (25.7%) 1.21 2,923
2021-11-01 $459,200 (15.6%) $790,889 (27.8%) 1.23 2,602
2021-12-01 $459,425 (16.3%) $823,273 (32.2%) 1.24 2,071
2022-01-01 $453,950 (15.8%) $837,634 (34.7%) 1.23 1,659
2022-02-01 $472,000 (19.2%) $829,653 (27.7%) 1.23 1,551
2022-03-01 $499,900 (25.0%) $868,952 (31.4%) 1.25 1,631
2022-04-01 $525,000 (28.1%) $898,129 (30.5%) 1.25 2,003
2022-05-01 $549,800 (33.8%) $916,169 (27.2%) 1.26 2,737
2022-06-01 $561,468 (31.4%) $883,034 (17.0%) 1.25 3,985
2022-07-01 $549,900 (23.6%) $845,494 (8.9%) 1.24 5,455
2022-08-01 $533,120 (21.2%) $809,712 (6.2%) 1.23 6,130
2022-09-01 $528,775 (19.2%) $814,129 (6.3%) 1.24 6,402
2022-10-01 $524,900 (15.4%) $813,813 (4.8%) 1.24 7,116
2022-11-01 $521,500 (13.6%) $804,063 (1.7%) 1.25 7,333
2022-12-01 $515,000 (12.1%) $803,745 (-2.4%) 1.27 6,691
2023-01-01 $505,450 (11.3%) $782,701 (-6.6%) 1.25 6,481
2023-02-01 $517,173 (9.6%) $796,043 (-4.1%) 1.25 6,126
2023-03-01 $527,450 (5.5%) $818,657 (-5.8%) 1.24 5,686
2023-04-01 $559,999 (6.7%) $864,151 (-3.8%) 1.30 5,791
2023-05-01 $579,539 (5.4%) $918,097 (0.2%) 1.31 6,085
2023-06-01 $589,923 (5.1%) $935,706 (6.0%) 1.33 6,467
2023-07-01 $590,000 (7.3%) $940,318 (11.2%) 1.34 6,639
2023-08-01 $582,450 (9.3%) $917,374 (13.3%) 1.34 6,883
2023-09-01 $575,000 (8.7%) $921,454 (13.2%) 1.34 6,934
2023-10-01 $572,400 (9.1%) $922,263 (13.3%) 1.35 7,042
2023-11-01 $561,942 (7.8%) $907,799 (12.9%) 1.34 7,388
2023-12-01 $555,000 (7.8%) $898,674 (11.8%) 1.35 6,970
Nashville's median listing price for 2023-12-01 was $555,000, a difference of $40,000 (7.8%) versus the prior year and $-6,942 versus the prior month.

Nashville's median listing price comes in at 135% of the national average.

Nashville's average listing price for 2023-12-01 was $898,674, a difference of $94,929 (11.8%) versus the prior year and $-9,125 versus the prior month.

For the 2023-12-01 period, Nashville had 6,970 MLS listings, a difference of -418 listings (-6%) versus the prior month and 279 listings (4%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Nashville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 51 days 2,407 sqft
2018-02-01 39 days 2,401 sqft
2018-03-01 36 days 2,407 sqft
2018-04-01 33 days 2,408 sqft
2018-05-01 33 days 2,397 sqft
2018-06-01 34 days 2,396 sqft
2018-07-01 36 days 2,379 sqft
2018-08-01 37 days 2,337 sqft
2018-09-01 38 days 2,308 sqft
2018-10-01 42 days 2,285 sqft
2018-11-01 43 days 2,279 sqft
2018-12-01 50 days 2,285 sqft
2019-01-01 54 days 2,300 sqft
2019-02-01 44 days 2,302 sqft
2019-03-01 39 days 2,344 sqft
2019-04-01 34 days 2,391 sqft
2019-05-01 33 days 2,408 sqft
2019-06-01 36 days 2,413 sqft
2019-07-01 37 days 2,406 sqft
2019-08-01 37 days 2,398 sqft
2019-09-01 37 days 2,378 sqft
2019-10-01 37 days 2,355 sqft
2019-11-01 40 days 2,320 sqft
2019-12-01 46 days 2,312 sqft
2020-01-01 49 days 2,302 sqft
2020-02-01 36 days 2,306 sqft
2020-03-01 33 days 2,318 sqft
2020-04-01 35 days 2,303 sqft
2020-05-01 36 days 2,333 sqft
2020-06-01 33 days 2,331 sqft
2020-07-01 32 days 2,287 sqft
2020-08-01 31 days 2,236 sqft
2020-09-01 31 days 2,170 sqft
2020-10-01 30 days 2,120 sqft
2020-11-01 31 days 2,085 sqft
2020-12-01 36 days 2,054 sqft
2021-01-01 34 days 2,000 sqft
2021-02-01 25 days 1,993 sqft
2021-03-01 18 days 1,957 sqft
2021-04-01 16 days 1,946 sqft
2021-05-01 11 days 1,994 sqft
2021-06-01 12 days 1,980 sqft
2021-07-01 15 days 2,019 sqft
2021-08-01 16 days 2,025 sqft
2021-09-01 19 days 2,029 sqft
2021-10-01 19 days 2,050 sqft
2021-11-01 22 days 2,049 sqft
2021-12-01 28 days 2,048 sqft
2022-01-01 26 days 2,040 sqft
2022-02-01 15 days 2,036 sqft
2022-03-01 11 days 2,039 sqft
2022-04-01 11 days 2,104 sqft
2022-05-01 12 days 2,175 sqft
2022-06-01 15 days 2,239 sqft
2022-07-01 21 days 2,216 sqft
2022-08-01 27 days 2,210 sqft
2022-09-01 31 days 2,197 sqft
2022-10-01 31 days 2,193 sqft
2022-11-01 38 days 2,187 sqft
2022-12-01 48 days 2,193 sqft
2023-01-01 53 days 2,174 sqft
2023-02-01 38 days 2,180 sqft
2023-03-01 36 days 2,203 sqft
2023-04-01 32 days 2,248 sqft
2023-05-01 30 days 2,283 sqft
2023-06-01 34 days 2,302 sqft
2023-07-01 33 days 2,294 sqft
2023-08-01 37 days 2,279 sqft
2023-09-01 37 days 2,271 sqft
2023-10-01 37 days 2,256 sqft
2023-11-01 39 days 2,228 sqft
2023-12-01 44 days 2,207 sqft
Nashville's median listing age (time on market) for 2023-12-01 was 44 days. This is -8% shorter than the same period one year ago.

Nashville's median square footage for active listings during the 2023-12-01 period was 2,207 sqft. One year prior, the average listing was 2,193 sqft.