Nashville USDA Loan Rates, Closing Costs & Stats

NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, 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.

    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 6.46% for the week of 2024-11-08, compared to the national average (all USDA variants) of 6.477% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.34% and one month ago for the week of 2024-10-04, the average rate was 5.86%.

    The average rate one year ago was 7.3%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.38%.

    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 .

    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 $383,919 (13.0%) $528,839 (12.1%) 1.42 5,897
    2018-02-01 $382,445 (10.0%) $526,076 (10.2%) 1.39 5,916
    2018-03-01 $385,000 (9.5%) $534,819 (10.0%) 1.35 5,928
    2018-04-01 $389,377 (8.8%) $540,070 (8.7%) 1.32 6,322
    2018-05-01 $385,000 (-1.3%) $537,693 (-4.7%) 1.29 6,839
    2018-06-01 $379,900 (-2.6%) $531,125 (-5.5%) 1.27 7,339
    2018-07-01 $374,335 (-3.6%) $524,918 (-4.9%) 1.25 7,910
    2018-08-01 $369,450 (-5.0%) $517,990 (-4.8%) 1.24 8,138
    2018-09-01 $365,000 (-6.2%) $508,242 (-5.9%) 1.23 8,783
    2018-10-01 $359,888 (-6.4%) $504,088 (-5.2%) 1.22 9,142
    2018-11-01 $354,900 (-6.6%) $501,349 (-5.2%) 1.20 9,077
    2018-12-01 $355,900 (-7.3%) $504,444 (-5.0%) 1.23 8,459
    2019-01-01 $356,818 (-7.1%) $503,943 (-4.7%) 1.23 7,996
    2019-02-01 $359,899 (-5.9%) $507,320 (-3.6%) 1.22 7,771
    2019-03-01 $364,237 (-5.4%) $521,348 (-2.5%) 1.19 7,572
    2019-04-01 $369,945 (-5.0%) $533,099 (-1.3%) 1.17 7,503
    2019-05-01 $374,575 (-2.7%) $539,227 (0.3%) 1.17 7,779
    2019-06-01 $378,000 (-0.5%) $548,216 (3.2%) 1.18 7,786
    2019-07-01 $375,000 (0.2%) $544,535 (3.7%) 1.17 7,884
    2019-08-01 $373,691 (1.2%) $545,650 (5.3%) 1.18 7,845
    2019-09-01 $371,615 (1.8%) $547,416 (7.7%) 1.19 7,780
    2019-10-01 $369,950 (2.8%) $546,752 (8.5%) 1.19 7,811
    2019-11-01 $369,900 (4.2%) $545,306 (8.8%) 1.21 7,678
    2019-12-01 $367,524 (3.3%) $542,721 (7.6%) 1.23 7,085
    2020-01-01 $366,450 (2.7%) $540,612 (7.3%) 1.22 6,378
    2020-02-01 $369,900 (2.8%) $545,436 (7.5%) 1.21 5,922
    2020-03-01 $379,700 (4.3%) $550,681 (5.6%) 1.19 5,826
    2020-04-01 $376,415 (1.8%) $538,980 (1.1%) 1.18 6,557
    2020-05-01 $385,000 (2.8%) $559,814 (3.8%) 1.17 6,556
    2020-06-01 $392,300 (3.8%) $578,798 (5.6%) 1.16 6,091
    2020-07-01 $391,995 (4.5%) $590,848 (8.5%) 1.14 6,086
    2020-08-01 $394,990 (5.7%) $610,364 (11.9%) 1.13 5,342
    2020-09-01 $399,900 (7.6%) $606,626 (10.8%) 1.15 4,810
    2020-10-01 $399,900 (8.1%) $620,251 (13.4%) 1.15 4,529
    2020-11-01 $398,375 (7.7%) $620,681 (13.8%) 1.16 4,182
    2020-12-01 $395,175 (7.5%) $624,692 (15.1%) 1.18 3,706
    2021-01-01 $392,915 (7.2%) $623,251 (15.3%) 1.17 3,148
    2021-02-01 $397,400 (7.4%) $651,751 (19.5%) 1.16 2,504
    2021-03-01 $399,900 (5.3%) $663,517 (20.5%) 1.13 2,214
    2021-04-01 $411,943 (9.4%) $692,613 (28.5%) 1.12 2,049
    2021-05-01 $415,000 (7.8%) $724,694 (29.5%) 1.10 1,994
    2021-06-01 $428,000 (9.1%) $759,730 (31.3%) 1.13 2,132
    2021-07-01 $449,000 (14.5%) $781,510 (32.3%) 1.18 2,557
    2021-08-01 $442,025 (11.9%) $767,224 (25.7%) 1.18 2,664
    2021-09-01 $447,245 (11.8%) $770,786 (27.1%) 1.19 2,809
    2021-10-01 $456,900 (14.3%) $779,808 (25.7%) 1.22 2,876
    2021-11-01 $459,945 (15.5%) $793,667 (27.9%) 1.23 2,559
    2021-12-01 $459,950 (16.4%) $825,520 (32.2%) 1.25 2,036
    2022-01-01 $459,600 (17.0%) $842,380 (35.2%) 1.24 1,623
    2022-02-01 $475,891 (19.8%) $826,952 (26.9%) 1.24 1,519
    2022-03-01 $499,900 (25.0%) $869,720 (31.1%) 1.25 1,598
    2022-04-01 $525,000 (27.4%) $899,874 (29.9%) 1.25 1,966
    2022-05-01 $549,900 (32.5%) $919,840 (26.9%) 1.26 2,689
    2022-06-01 $562,450 (31.4%) $886,474 (16.7%) 1.25 3,933
    2022-07-01 $549,999 (22.5%) $848,183 (8.5%) 1.24 5,391
    2022-08-01 $534,722 (21.0%) $812,752 (5.9%) 1.24 6,070
    2022-09-01 $529,450 (18.4%) $816,834 (6.0%) 1.24 6,352
    2022-10-01 $525,000 (14.9%) $816,453 (4.7%) 1.24 7,066
    2022-11-01 $524,425 (14.0%) $806,923 (1.7%) 1.26 7,270
    2022-12-01 $519,000 (12.8%) $806,894 (-2.3%) 1.28 6,628
    2023-01-01 $509,200 (10.8%) $785,882 (-6.7%) 1.26 6,420
    2023-02-01 $517,700 (8.8%) $799,067 (-3.4%) 1.25 6,072
    2023-03-01 $527,495 (5.5%) $820,130 (-5.7%) 1.24 5,643
    2023-04-01 $564,025 (7.4%) $867,295 (-3.6%) 1.31 5,750
    2023-05-01 $580,000 (5.5%) $920,875 (0.1%) 1.32 6,042
    2023-06-01 $590,695 (5.0%) $938,703 (5.9%) 1.33 6,423
    2023-07-01 $594,900 (8.2%) $942,855 (11.2%) 1.35 6,597
    2023-08-01 $583,495 (9.1%) $920,370 (13.2%) 1.34 6,834
    2023-09-01 $579,000 (9.4%) $924,643 (13.2%) 1.35 6,884
    2023-10-01 $573,430 (9.2%) $925,905 (13.4%) 1.35 6,991
    2023-11-01 $562,500 (7.3%) $911,240 (12.9%) 1.34 7,338
    2023-12-01 $559,000 (7.7%) $901,460 (11.7%) 1.36 6,916
    2024-01-01 $559,926 (10.0%) $901,165 (14.7%) 1.37 6,120
    2024-02-01 $560,243 (8.2%) $900,001 (12.6%) 1.35 5,903
    2024-03-01 $558,990 (6.0%) $907,206 (10.6%) 1.32 6,166
    2024-04-01 $573,475 (1.7%) $919,909 (6.1%) 1.33 6,733
    2024-05-01 $588,450 (1.5%) $936,713 (1.7%) 1.33 7,116
    2024-06-01 $575,000 (-2.7%) $914,771 (-2.6%) 1.29 7,706
    2024-07-01 $566,945 (-4.7%) $901,544 (-4.4%) 1.30 8,347
    2024-08-01 $550,000 (-5.7%) $884,768 (-3.9%) 1.28 8,550
    2024-09-01 $547,865 (-5.4%) $862,742 (-6.7%) 1.29 8,990
    2024-10-01 $542,447 (-5.4%) $856,166 (-7.5%) 1.28 9,051
    Nashville's median listing price for 2024-10-01 was $542,447, a difference of $-30,983 (-5.4%) versus the prior year and $-5,418 versus the prior month.

    Nashville's median listing price comes in at 128% of the national average.

    Nashville's average listing price for 2024-10-01 was $856,166, a difference of $-69,739 (-7.5%) versus the prior year and $-6,576 versus the prior month.

    For the 2024-10-01 period, Nashville had 9,051 MLS listings, a difference of 61 listings (1%) versus the prior month and 2,060 listings (29%) 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 2,408 sqft
    2018-02-01 39 days 2,403 sqft
    2018-03-01 36 days 2,410 sqft
    2018-04-01 33 days 2,411 sqft
    2018-05-01 33 days 2,399 sqft
    2018-06-01 34 days 2,400 sqft
    2018-07-01 36 days 2,382 sqft
    2018-08-01 37 days 2,345 sqft
    2018-09-01 38 days 2,310 sqft
    2018-10-01 42 days 2,287 sqft
    2018-11-01 43 days 2,280 sqft
    2018-12-01 50 days 2,289 sqft
    2019-01-01 54 days 2,302 sqft
    2019-02-01 44 days 2,303 sqft
    2019-03-01 39 days 2,350 sqft
    2019-04-01 34 days 2,393 sqft
    2019-05-01 33 days 2,409 sqft
    2019-06-01 36 days 2,415 sqft
    2019-07-01 37 days 2,406 sqft
    2019-08-01 37 days 2,398 sqft
    2019-09-01 37 days 2,379 sqft
    2019-10-01 37 days 2,358 sqft
    2019-11-01 40 days 2,326 sqft
    2019-12-01 46 days 2,320 sqft
    2020-01-01 48 days 2,306 sqft
    2020-02-01 36 days 2,308 sqft
    2020-03-01 33 days 2,323 sqft
    2020-04-01 35 days 2,305 sqft
    2020-05-01 36 days 2,333 sqft
    2020-06-01 33 days 2,332 sqft
    2020-07-01 31 days 2,288 sqft
    2020-08-01 31 days 2,237 sqft
    2020-09-01 31 days 2,170 sqft
    2020-10-01 30 days 2,124 sqft
    2020-11-01 31 days 2,088 sqft
    2020-12-01 36 days 2,055 sqft
    2021-01-01 34 days 2,000 sqft
    2021-02-01 25 days 1,998 sqft
    2021-03-01 18 days 1,962 sqft
    2021-04-01 16 days 1,959 sqft
    2021-05-01 11 days 2,000 sqft
    2021-06-01 12 days 1,987 sqft
    2021-07-01 15 days 2,020 sqft
    2021-08-01 16 days 2,029 sqft
    2021-09-01 19 days 2,033 sqft
    2021-10-01 19 days 2,055 sqft
    2021-11-01 22 days 2,057 sqft
    2021-12-01 28 days 2,055 sqft
    2022-01-01 26 days 2,052 sqft
    2022-02-01 14 days 2,038 sqft
    2022-03-01 11 days 2,040 sqft
    2022-04-01 10 days 2,106 sqft
    2022-05-01 12 days 2,184 sqft
    2022-06-01 15 days 2,246 sqft
    2022-07-01 21 days 2,219 sqft
    2022-08-01 26 days 2,214 sqft
    2022-09-01 31 days 2,200 sqft
    2022-10-01 31 days 2,196 sqft
    2022-11-01 38 days 2,191 sqft
    2022-12-01 48 days 2,198 sqft
    2023-01-01 52 days 2,178 sqft
    2023-02-01 38 days 2,184 sqft
    2023-03-01 35 days 2,205 sqft
    2023-04-01 32 days 2,251 sqft
    2023-05-01 30 days 2,288 sqft
    2023-06-01 34 days 2,303 sqft
    2023-07-01 33 days 2,298 sqft
    2023-08-01 37 days 2,282 sqft
    2023-09-01 37 days 2,273 sqft
    2023-10-01 37 days 2,259 sqft
    2023-11-01 39 days 2,234 sqft
    2023-12-01 44 days 2,210 sqft
    2024-01-01 46 days 2,201 sqft
    2024-02-01 38 days 2,189 sqft
    2024-03-01 32 days 2,170 sqft
    2024-04-01 31 days 2,180 sqft
    2024-05-01 30 days 2,204 sqft
    2024-06-01 32 days 2,194 sqft
    2024-07-01 36 days 2,170 sqft
    2024-08-01 38 days 2,151 sqft
    2024-09-01 52 days 2,146 sqft
    2024-10-01 54 days 2,137 sqft
    Nashville's median listing age (time on market) for 2024-10-01 was 54 days. This is 47% longer than the same period one year ago.

    Nashville's median square footage for active listings during the 2024-10-01 period was 2,137 sqft. One year prior, the average listing was 2,259 sqft.