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%.
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 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. 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%) | 1.22 | 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 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. 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 | 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 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.