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
-0.27%
for the week of 2023-06-02, compared to the national average (all USDA variants) of
0% for the same period.
Nashville's average USDA mortgage closing costs are $5,739.
The average rate for the prior week (2023-05-26) was
5.98% and
one month ago for the week of 2023-04-28, the
average rate was 6.05%.
The average rate one year ago was 4.92%.
For refis of the same type during the week of 2023-06-02, the average rate
was -1.54%.
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.
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $383,900 (12.9%) | $528,729 (12.1%) | 1.42 | 5,900 |
2018-02-01 | $381,920 (9.9%) | $525,957 (10.2%) | 1.39 | 5,919 |
2018-03-01 | $385,000 (9.6%) | $534,563 (10.0%) | 1.35 | 5,935 |
2018-04-01 | $388,248 (8.5%) | $539,826 (8.7%) | 1.32 | 6,329 |
2018-05-01 | $385,000 (-1.3%) | $537,554 (-4.6%) | 1.29 | 6,843 |
2018-06-01 | $379,900 (-2.6%) | $530,903 (-5.5%) | 1.27 | 7,345 |
2018-07-01 | $373,968 (-3.6%) | $524,753 (-4.9%) | 1.25 | 7,915 |
2018-08-01 | $369,450 (-5.0%) | $517,856 (-4.8%) | 1.24 | 8,142 |
2018-09-01 | $365,000 (-6.2%) | $508,219 (-5.8%) | 1.23 | 8,784 |
2018-10-01 | $359,888 (-6.3%) | $504,061 (-5.1%) | 1.22 | 9,144 |
2018-11-01 | $354,900 (-6.6%) | $501,328 (-5.1%) | 1.20 | 9,078 |
2018-12-01 | $355,900 (-7.2%) | $504,425 (-5.0%) | 1.23 | 8,460 |
2019-01-01 | $356,678 (-7.1%) | $503,911 (-4.7%) | 1.23 | 7,999 |
2019-02-01 | $359,900 (-5.8%) | $507,277 (-3.6%) | 1.22 | 7,775 |
2019-03-01 | $364,237 (-5.4%) | $521,304 (-2.5%) | 1.19 | 7,574 |
2019-04-01 | $369,945 (-4.7%) | $533,061 (-1.3%) | 1.17 | 7,506 |
2019-05-01 | $374,700 (-2.7%) | $539,187 (0.3%) | 1.17 | 7,778 |
2019-06-01 | $377,995 (-0.5%) | $548,123 (3.2%) | 1.18 | 7,786 |
2019-07-01 | $375,000 (0.3%) | $544,513 (3.8%) | 1.17 | 7,885 |
2019-08-01 | $373,636 (1.1%) | $545,615 (5.4%) | 1.18 | 7,846 |
2019-09-01 | $371,591 (1.8%) | $547,363 (7.7%) | 1.19 | 7,782 |
2019-10-01 | $369,950 (2.8%) | $546,709 (8.5%) | 1.19 | 7,813 |
2019-11-01 | $369,900 (4.2%) | $545,284 (8.8%) | 1.21 | 7,679 |
2019-12-01 | $367,487 (3.3%) | $542,668 (7.6%) | 1.23 | 7,087 |
2020-01-01 | $366,450 (2.7%) | $540,547 (7.3%) | 1.22 | 6,379 |
2020-02-01 | $369,900 (2.8%) | $545,379 (7.5%) | 1.21 | 5,922 |
2020-03-01 | $379,601 (4.2%) | $550,553 (5.6%) | 1.19 | 5,827 |
2020-04-01 | $376,215 (1.7%) | $538,890 (1.1%) | 1.18 | 6,559 |
2020-05-01 | $385,000 (2.8%) | $559,784 (3.8%) | 1.17 | 6,557 |
2020-06-01 | $392,198 (3.8%) | $578,699 (5.6%) | 1.16 | 6,092 |
2020-07-01 | $391,995 (4.5%) | $590,763 (8.5%) | 1.14 | 6,087 |
2020-08-01 | $394,990 (5.7%) | $610,227 (11.8%) | 1.13 | 5,345 |
2020-09-01 | $399,900 (7.6%) | $606,532 (10.8%) | 1.15 | 4,812 |
2020-10-01 | $399,900 (8.1%) | $620,095 (13.4%) | 1.15 | 4,532 |
2020-11-01 | $398,225 (7.7%) | $620,547 (13.8%) | 1.16 | 4,184 |
2020-12-01 | $394,950 (7.5%) | $624,473 (15.1%) | 1.18 | 3,708 |
2021-01-01 | $392,908 (7.2%) | $623,176 (15.3%) | 1.17 | 3,149 |
2021-02-01 | $397,400 (7.4%) | $651,751 (19.5%) | 1.16 | 2,504 |
2021-03-01 | $399,900 (5.4%) | $663,517 (20.5%) | 1.14 | 2,214 |
2021-04-01 | $411,943 (9.5%) | $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 | $428,250 (9.2%) | $759,908 (31.3%) | 1.13 | 2,131 |
2021-07-01 | $449,000 (14.5%) | $781,651 (32.3%) | 1.18 | 2,557 |
2021-08-01 | $442,175 (12.0%) | $767,396 (25.8%) | 1.18 | 2,663 |
2021-09-01 | $447,373 (11.9%) | $770,869 (27.1%) | 1.19 | 2,809 |
2021-10-01 | $456,900 (14.3%) | $780,008 (25.8%) | 1.22 | 2,874 |
2021-11-01 | $459,945 (15.5%) | $793,824 (27.9%) | 1.23 | 2,558 |
2021-12-01 | $459,950 (16.5%) | $825,715 (32.2%) | 1.25 | 2,035 |
2022-01-01 | $459,445 (16.9%) | $842,481 (35.2%) | 1.24 | 1,622 |
2022-02-01 | $475,500 (19.7%) | $827,001 (26.9%) | 1.24 | 1,519 |
2022-03-01 | $499,900 (25.0%) | $869,793 (31.1%) | 1.25 | 1,597 |
2022-04-01 | $525,000 (27.4%) | $899,939 (29.9%) | 1.25 | 1,965 |
2022-05-01 | $549,900 (32.5%) | $919,809 (26.9%) | 1.26 | 2,689 |
2022-06-01 | $562,450 (31.3%) | $886,461 (16.7%) | 1.25 | 3,932 |
2022-07-01 | $549,999 (22.5%) | $848,203 (8.5%) | 1.24 | 5,390 |
2022-08-01 | $534,695 (20.9%) | $812,767 (5.9%) | 1.24 | 6,070 |
2022-09-01 | $529,450 (18.4%) | $816,834 (6.0%) | 1.24 | 6,350 |
2022-10-01 | $525,000 (14.9%) | $816,983 (4.7%) | 1.24 | 7,068 |
2022-11-01 | $524,450 (14.0%) | $807,015 (1.7%) | 1.26 | 7,269 |
2022-12-01 | $519,250 (12.9%) | $806,987 (-2.3%) | 1.28 | 6,627 |
2023-01-01 | $509,763 (11.0%) | $786,124 (-6.7%) | 1.26 | 6,418 |
2023-02-01 | $517,925 (8.9%) | $799,418 (-3.3%) | 1.25 | 6,066 |
2023-03-01 | $527,500 (5.5%) | $820,400 (-5.7%) | 1.24 | 5,638 |
2023-04-01 | $564,025 (7.4%) | $867,233 (-3.6%) | 1.31 | 5,754 |
2023-05-01 | $580,000 (5.5%) | $921,113 (0.1%) | 1.31 | 6,040 |
Nashville's median listing price comes in at 131% of the national average.
Nashville's average listing price for 2023-05-01 was $921,113, a difference of $1,304 (0.1%) versus the prior year and $53,880 versus the prior month.
For the 2023-05-01 period, Nashville had 6,040 MLS listings, a difference of 286 listings (5%) versus the prior month and 3,351 listings (125%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Nashville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 | 2,304 sqft |
2019-03-01 | 39 days | 2,351 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 | 2,304 sqft |
2020-05-01 | 36 days | 2,333 sqft |
2020-06-01 | 33 days | 2,332 sqft |
2020-07-01 | 31 days | 2,289 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 | 2,056 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 | 1,988 sqft |
2021-07-01 | 15 days | 2,021 sqft |
2021-08-01 | 16 days | 2,030 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 | 2,051 sqft |
2022-02-01 | 14 days | 2,039 sqft |
2022-03-01 | 11 days | 2,041 sqft |
2022-04-01 | 10 days | 2,107 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 | 2,199 sqft |
2023-01-01 | 52 days | 2,178 sqft |
2023-02-01 | 38 days | 2,185 sqft |
2023-03-01 | 35 days | 2,205 sqft |
2023-04-01 | 32 days | 2,252 sqft |
2023-05-01 | 30 days | 2,288 sqft |
Nashville's median square footage for active listings during the 2023-05-01 period was 2,288 sqft. One year prior, the average listing was 2,184 sqft.