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 108 lenders originated 886 USDA loans during 2021. The total origination value was $225,440,000, with an average USDA loan value of $254,447.

Nashville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Nashville averaged 6.4% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

Nashville's average USDA mortgage closing costs are $5,563.

The average rate for the prior week (2023-01-20) was 6.19% and one month ago for the week of 2022-12-23, the average rate was 6.22%.

The average rate one year ago was 3.97%.

For refis of the same type during the week of 2023-01-27, the average rate was 6.19%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
DHI MORTGAGE COMPANY, LTD. 51 2.73% $5,289
NVR Mortgage Finance, Inc. 42 2.94% $7,729
CMG MORTGAGE, INC. 38 3.00% $7,132
ACOPIA, LLC 38 2.95% $5,997
FIRST COMMUNITY MORTGAGE, INC. 36 2.87% $6,192
Magnolia Bank 31 2.78% $4,762
CALIBER HOME LOANS, INC. 26 2.79% $5,733
PRIMARY RESIDENTIAL MORTGAGE, INC. 26 3.12% $6,891
The First National Bank of Middle Tennessee 26 2.83% $6,255
MORTGAGE INVESTORS GROUP, INC. 25 2.99% $5,077
LOANDEPOT.COM, LLC 23 3.08% $6,767
FirstBank 21 2.83% $6,092
HOME POINT FINANCIAL CORPORATION 19 2.98% $6,284
Wilson Bank And Trust 15 2.66% $4,136
INTERLINC MORTGAGE SERVICES, LLC 14 3.21% $4,136
PENNYMAC LOAN SERVICES, LLC 14 2.92% $5,994
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 13 3.07% $7,094
SUCCESS MORTGAGE PARTNERS, INC. 13 3.49% $6,570
First Federal Bank 12 2.40% $5,630
Flagstar Bank, FSB 12 2.74% $5,560
First Horizon Bank 12 2.74% $6,785
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 3.05% $6,444
The Farmers Bank 11 2.52% $5,468
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 11 3.00% $5,985
CROSSCOUNTRY MORTGAGE, LLC 10 2.99% $6,553
COMMUNITY MORTGAGE CORPORATION 10 2.71% $5,302
CHURCHILL MORTGAGE CORPORATION 10 2.98% $6,034
THE MORTGAGE FIRM, INC. 10 3.14% $6,389
DAS Acquisition Company, LLC 9 2.82% $5,567
T2 FINANCIAL LLC 9 3.11% $5,597
Reliant Bank 9 2.71% $6,339
Bank of England 8 3.22% $6,751
BROKER SOLUTIONS, INC. 8 2.84% $5,823
The Home Loan Expert LLC 8 2.55% $6,340
AMERICAN PACIFIC MORTGAGE CORPORATION 8 2.98% $6,494
SWBC MORTGAGE CORPORATION 7 3.00% $3,657
Colten Mortgage, LLC 7 2.88% $5,464
GUARANTY HOME MORTGAGE CORPORATION 7 2.86% $5,328
EUSTIS AND AMERICAN MORTGAGE COMPANY 7 2.98% $6,130
AMERICAN MORTGAGE SERVICE COMPANY 6 2.73% $5,138
RESIDENTIAL WHOLESALE MORTGAGE, INC. 6 2.79% $6,268
Legends Bank 6 2.69% $5,300
CapStar Bank 6 2.48% $5,853
ISERVE RESIDENTIAL LENDING, LLC 5 2.93% $5,875
MOVEMENT MORTGAGE, LLC 5 2.73% $5,183
U.S. Bank 5 3.38% $4,763
F&M Bank 5 2.55% $4,955
Austin Capital Bank SSB 5 3.20% $5,793
Renasant Bank 4 2.78% $5,877
AMERICAN FINANCIAL NETWORK, INC. 4 3.25% $8,650
Ameris Bank 4 2.78% $5,644
LAND HOME FINANCIAL SERVICES, INC. 4 3.06% $6,844
SECURITYNATIONAL MORTGAGE COMPANY 4 2.81% $6,983
SOUTHWEST FUNDING, LP 4 3.38% $6,927
UNITED WHOLESALE MORTGAGE, LLC 4 2.90% $8,245
VANDERBILT MORTGAGE AND FINANCE, INC. 4 2.69% $7,354
HOMESTAR FINANCIAL CORPORATION 3 2.83% $4,778
AMCAP MORTGAGE, LTD. 3 2.67% $6,469
Atlantic Union Bank 3 3.41% $7,124
First Vision Bank of Tennessee 3 2.96% $5,770
Bank of Tennessee 3 3.17% $4,964
STOCKTON MORTGAGE CORPORATION 3 3.13% $5,591
Nations Lending Corporation 2 3.88% $6,013
MID AMERICA MORTGAGE, INC. 2 3.12% $3,200
Equity Prime Mortgage LLC 2 2.63% $4,030
PLAZA HOME MORTGAGE, INC. 2 2.69% $7,240
Regions Bank 2 3.19% $5,030
Citizens Bank 2 3.00% $7,502
Christensen Financial, Inc. 2 2.81% $5,990
SUMMIT FUNDING, INC. 2 3.00% $7,409
SUN WEST MORTGAGE COMPANY, INC. 2 2.25% $4,548
Carrington Mortgage Services, LLC 2 3.06% $7,885
A Mortgage Boutique, LLC 2 2.50% $9,121
TOWNE MORTGAGE COMPANY 2 2.69% $4,603
GUARANTEED RATE, INC. 2 3.00% $5,514
UNION HOME MORTGAGE CORP. 2 2.94% $6,490
ENDEAVOR CAPITAL, LLC. 1 3.13% $4,236
RANLIFE, INC. 1 3.13% $5,172
GENEVA FINANCIAL, LLC 1 3.25% $8,892
RELIANCE FIRST CAPITAL, LLC 1 2.88% $8,170
DELMAR FINANCIAL COMPANY 1 2.75% $5,897
Consumer First Mortgage, Inc. 1 2.25% $4,373
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.75% $2,354
ROSS MORTGAGE CORPORATION 1 4.00% $6,031
First Guaranty Mortgage Corporation 1 2.75% $5,966
SOUTH CENTRAL BANK, INC. 1 2.63% $7,099
SOUTHPOINT FINANCIAL SERVICES, INC. 1 3.38% $1,358
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 2.88% $6,284
STEARNS LENDING, LLC 1 2.75% $5,494
MICHIGAN MUTUAL, INC. 1 3.13% $4,111
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 3.25% $6,780
Ixonia Bank 1 3.25% $5,288
Triumph Bank 1 2.75% $5,112
INSPIRE HOME LOANS INC. 1 2.88% $7,535
Synovus Bank 1 2.63% $8,032
Capital City Home Loans, LLC 1 3.75% $6,743
Mortgage Research Center, LLC 1 2.63% $4,998
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 2.63% $4,744
First Federal Bank, A FSB 1 2.25% $3,570
NATIONS DIRECT MORTGAGE, LLC 1 3.25% $10,117
LEADERONE FINANCIAL CORPORATION 1 2.88% $5,733
NEWREZ LLC 1 3.13% $4,788
Northpointe Bank 1 2.88% $5,113
EVANSVILLE TEACHERS 1 2.25% $4,358
OCEANSIDE MORTGAGE COMPANY 1 3.50% $1,529
TENNESSEE TRUST MORTGAGE, INC 1 2.50% $4,389
Pinnacle Bank 1 3.25% $4,008
MEGASTAR FINANCIAL CORP. 1 3.38% $6,352

The top Nashville USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 51 USDA loans originated. Their average total fees are $5,289, which is $2,440 lower than the next largest lender, NVR Mortgage Finance, Inc..

The lowest fee Nashville USDA lenders (with over 10 loans originated) are Wilson Bank And Trust ($4,136), INTERLINC MORTGAGE SERVICES, LLC ($4,136), Magnolia Bank ($4,762), MORTGAGE INVESTORS GROUP, INC. ($5,077) and DHI MORTGAGE COMPANY, LTD. ($5,289).

The lowest rate Nashville USDA lenders (with over 10 loans originated) are First Federal Bank (2.40%), The Farmers Bank (2.52%), Wilson Bank And Trust (2.66%), COMMUNITY MORTGAGE CORPORATION (2.71%) and DHI MORTGAGE COMPANY, LTD. (2.73%).


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 $383,900 (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%) 1.22 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%) $521,324 (-2.5%) 1.19 7,575
2019-04-01 $369,945 (-4.7%) $533,187 (-1.2%) 1.17 7,507
2019-05-01 $374,575 (-2.7%) $539,243 (0.3%) 1.17 7,790
2019-06-01 $377,945 (-0.5%) $548,017 (3.2%) 1.18 7,801
2019-07-01 $375,000 (0.3%) $544,329 (3.7%) 1.17 7,902
2019-08-01 $373,636 (1.1%) $545,376 (5.3%) 1.18 7,864
2019-09-01 $371,591 (1.8%) $547,054 (7.6%) 1.19 7,801
2019-10-01 $369,950 (2.8%) $546,341 (8.4%) 1.19 7,832
2019-11-01 $369,900 (4.2%) $544,889 (8.7%) 1.21 7,699
2019-12-01 $367,253 (3.2%) $542,241 (7.5%) 1.22 7,107
2020-01-01 $366,450 (2.7%) $540,088 (7.2%) 1.22 6,399
2020-02-01 $369,900 (2.8%) $544,866 (7.4%) 1.21 5,942
2020-03-01 $379,000 (4.1%) $550,016 (5.5%) 1.19 5,847
2020-04-01 $376,020 (1.6%) $538,438 (1.0%) 1.18 6,579
2020-05-01 $385,000 (2.8%) $559,278 (3.7%) 1.17 6,577
2020-06-01 $391,993 (3.7%) $578,103 (5.5%) 1.15 6,112
2020-07-01 $391,950 (4.5%) $590,115 (8.4%) 1.14 6,107
2020-08-01 $394,900 (5.7%) $609,426 (11.7%) 1.13 5,365
2020-09-01 $399,894 (7.6%) $605,709 (10.7%) 1.15 4,832
2020-10-01 $399,900 (8.1%) $619,132 (13.3%) 1.15 4,552
2020-11-01 $397,450 (7.5%) $619,515 (13.7%) 1.16 4,204
2020-12-01 $394,950 (7.5%) $623,314 (15.0%) 1.17 3,728
2021-01-01 $391,945 (7.0%) $621,791 (15.1%) 1.17 3,169
2021-02-01 $396,228 (7.1%) $649,883 (19.3%) 1.15 2,524
2021-03-01 $399,900 (5.5%) $661,392 (20.3%) 1.13 2,234
2021-04-01 $410,500 (9.2%) $690,318 (28.2%) 1.11 2,069
2021-05-01 $414,941 (7.8%) $721,559 (29.0%) 1.10 2,014
2021-06-01 $427,500 (9.1%) $756,772 (30.9%) 1.13 2,150
2021-07-01 $445,533 (13.7%) $778,535 (31.9%) 1.17 2,576
2021-08-01 $439,950 (11.4%) $765,123 (25.6%) 1.17 2,682
2021-09-01 $445,974 (11.5%) $768,482 (26.9%) 1.19 2,828
2021-10-01 $455,000 (13.8%) $778,030 (25.7%) 1.21 2,892
2021-11-01 $459,900 (15.7%) $791,380 (27.7%) 1.23 2,577
2021-12-01 $459,900 (16.5%) $821,974 (31.9%) 1.25 2,055
2022-01-01 $455,719 (16.3%) $837,969 (34.8%) 1.23 1,608
2022-02-01 $472,400 (19.2%) $822,441 (26.6%) 1.23 1,539
2022-03-01 $499,450 (24.9%) $865,003 (30.8%) 1.25 1,617
2022-04-01 $524,999 (27.9%) $896,232 (29.8%) 1.25 1,985
2022-05-01 $549,900 (32.5%) $917,318 (27.1%) 1.26 2,709
2022-06-01 $561,500 (31.4%) $884,586 (16.9%) 1.25 3,951
2022-07-01 $549,990 (23.5%) $847,119 (8.8%) 1.24 5,410
2022-08-01 $533,167 (21.2%) $811,682 (6.1%) 1.23 6,090
2022-09-01 $528,913 (18.6%) $816,327 (6.2%) 1.24 6,370
2022-10-01 $525,000 (15.4%) $816,584 (5.0%) 1.24 7,087
2022-11-01 $523,875 (13.9%) $806,260 (1.9%) 1.26 7,289
2022-12-01 $515,000 (12.0%) $802,014 (-2.4%) 1.29 6,697
Nashville's median listing price for 2022-12-01 was $515,000, a difference of $55,100 (12.0%) versus the prior year and $-8,875 versus the prior month.

Nashville's median listing price comes in at 129% of the national average.

Nashville's average listing price for 2022-12-01 was $802,014, a difference of $-19,960 (-2.4%) versus the prior year and $-4,246 versus the prior month.

For the 2022-12-01 period, Nashville had 6,697 MLS listings, a difference of -592 listings (-8%) versus the prior month and 4,642 listings (226%) 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 34 days 2,411 sqft
2018-05-01 33 days 2,399 sqft
2018-06-01 35 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 43 days 2,287 sqft
2018-11-01 44 days 2,280 sqft
2018-12-01 51 days 2,289 sqft
2019-01-01 55 days 2,302 sqft
2019-02-01 45 days 2,304 sqft
2019-03-01 40 days 2,351 sqft
2019-04-01 35 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 38 days 2,379 sqft
2019-10-01 38 days 2,357 sqft
2019-11-01 41 days 2,323 sqft
2019-12-01 47 days 2,317 sqft
2020-01-01 49 days 2,304 sqft
2020-02-01 36 days 2,308 sqft
2020-03-01 34 days 2,319 sqft
2020-04-01 35 days 2,303 sqft
2020-05-01 37 days 2,333 sqft
2020-06-01 34 days 2,329 sqft
2020-07-01 32 days 2,286 sqft
2020-08-01 31 days 2,235 sqft
2020-09-01 32 days 2,169 sqft
2020-10-01 31 days 2,121 sqft
2020-11-01 32 days 2,086 sqft
2020-12-01 37 days 2,054 sqft
2021-01-01 35 days 2,000 sqft
2021-02-01 26 days 1,997 sqft
2021-03-01 19 days 1,960 sqft
2021-04-01 16 days 1,957 sqft
2021-05-01 12 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 2,028 sqft
2021-09-01 19 days 2,033 sqft
2021-10-01 20 days 2,051 sqft
2021-11-01 22 days 2,056 sqft
2021-12-01 28 days 2,054 sqft
2022-01-01 26 days 2,045 sqft
2022-02-01 15 days 2,038 sqft
2022-03-01 11 days 2,039 sqft
2022-04-01 11 days 2,104 sqft
2022-05-01 12 days 2,178 sqft
2022-06-01 16 days 2,243 sqft
2022-07-01 21 days 2,218 sqft
2022-08-01 27 days 2,213 sqft
2022-09-01 31 days 2,200 sqft
2022-10-01 31 days 2,194 sqft
2022-11-01 38 days 2,190 sqft
2022-12-01 50 days 2,193 sqft
Nashville's median listing age (time on market) for 2022-12-01 was 50 days. This is 79% longer than the same period one year ago.

Nashville's median square footage for active listings during the 2022-12-01 period was 2,193 sqft. One year prior, the average listing was 2,054 sqft.