Nashville USDA Loans

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 5.29% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.23% and one month ago for the week of 2022-04-08, the average rate was 4.69%.

The average rate one year ago was 3.2%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.29%.

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 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. Total Fees
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 $380,000 (11.8%) $528,157 (11.0%) 1.40 5,996
2018-02-01 $379,995 (9.8%) $526,531 (9.7%) 1.37 5,964
2018-03-01 $384,483 (9.4%) $535,384 (9.4%) 1.33 5,991
2018-04-01 $387,450 (8.3%) $539,706 (8.0%) 1.30 6,377
2018-05-01 $382,900 (-1.8%) $537,435 (-5.2%) 1.28 6,921
2018-06-01 $378,000 (-3.0%) $531,443 (-5.8%) 1.26 7,468
2018-07-01 $369,950 (-4.6%) $527,091 (-4.9%) 1.23 8,000
2018-08-01 $369,450 (-4.4%) $520,521 (-4.5%) 1.23 8,244
2018-09-01 $364,900 (-5.5%) $509,331 (-5.5%) 1.22 8,946
2018-10-01 $359,550 (-6.0%) $505,923 (-4.7%) 1.20 9,286
2018-11-01 $350,125 (-7.8%) $502,001 (-4.9%) 1.17 9,221
2018-12-01 $354,900 (-6.6%) $506,632 (-4.4%) 1.22 8,632
2019-01-01 $355,589 (-6.4%) $505,506 (-4.3%) 1.23 8,107
2019-02-01 $357,520 (-5.9%) $508,229 (-3.5%) 1.20 7,852
2019-03-01 $364,186 (-5.3%) $524,392 (-2.1%) 1.19 7,623
2019-04-01 $369,900 (-4.5%) $536,902 (-0.5%) 1.16 7,501
2019-05-01 $371,428 (-3.0%) $538,755 (0.3%) 1.14 7,857
2019-06-01 $375,000 (-0.8%) $549,169 (3.3%) 1.15 7,831
2019-07-01 $375,500 (1.5%) $548,314 (4.0%) 1.17 7,933
2019-08-01 $375,100 (1.5%) $548,917 (5.5%) 1.18 7,717
2019-09-01 $373,400 (2.3%) $548,907 (7.8%) 1.19 7,503
2019-10-01 $369,900 (2.9%) $545,241 (7.8%) 1.18 7,868
2019-11-01 $369,900 (5.7%) $546,161 (8.8%) 1.19 7,744
2019-12-01 $367,700 (3.6%) $548,213 (8.2%) 1.23 7,167
2020-01-01 $365,450 (2.8%) $547,694 (8.4%) 1.22 6,447
2020-02-01 $369,900 (3.5%) $554,679 (9.1%) 1.19 5,912
2020-03-01 $378,700 (4.0%) $558,260 (6.5%) 1.18 5,836
2020-04-01 $374,995 (1.4%) $544,041 (1.3%) 1.17 6,626
2020-05-01 $385,000 (3.7%) $564,918 (4.9%) 1.17 6,498
2020-06-01 $390,000 (4.0%) $582,703 (6.1%) 1.14 6,012
2020-07-01 $389,945 (3.9%) $592,991 (8.2%) 1.12 6,225
2020-08-01 $395,418 (5.4%) $609,514 (11.0%) 1.13 5,347
2020-09-01 $399,900 (7.1%) $605,249 (10.3%) 1.14 4,698
2020-10-01 $399,900 (8.1%) $619,953 (13.7%) 1.14 4,474
2020-11-01 $397,218 (7.4%) $618,919 (13.3%) 1.14 4,070
2020-12-01 $395,900 (7.7%) $620,901 (13.3%) 1.16 3,676
2021-01-01 $398,187 (9.0%) $622,966 (13.7%) 1.17 3,135
2021-02-01 $397,450 (7.5%) $650,958 (17.4%) 1.14 2,450
2021-03-01 $399,900 (5.6%) $664,141 (19.0%) 1.12 2,145
2021-04-01 $413,805 (10.4%) $695,623 (27.9%) 1.11 1,961
2021-05-01 $415,000 (7.8%) $728,675 (29.0%) 1.09 1,899
2021-06-01 $429,450 (10.1%) $753,562 (29.3%) 1.12 2,100
2021-07-01 $446,000 (14.4%) $783,640 (32.2%) 1.16 2,411
2021-08-01 $439,900 (11.3%) $761,839 (25.0%) 1.16 2,618
2021-09-01 $445,413 (11.4%) $768,294 (26.9%) 1.17 2,716
2021-10-01 $450,000 (12.5%) $773,902 (24.8%) 1.18 2,819
2021-11-01 $455,450 (14.7%) $797,105 (28.8%) 1.20 2,525
2021-12-01 $459,900 (16.2%) $834,725 (34.4%) 1.23 1,985
2022-01-01 $453,000 (13.8%) $841,599 (35.1%) 1.21 1,606
2022-02-01 $472,450 (18.9%) $832,315 (27.9%) 1.20 1,489
2022-03-01 $499,900 (25.0%) $875,195 (31.8%) 1.23 1,497
2022-04-01 $524,900 (26.9%) $904,674 (30.1%) 1.24 1,778
Nashville's median listing price for 2022-04-01 was $524,900, a difference of $111,095 (26.9%) versus the prior year and $25,000 versus the prior month.

Nashville's median listing price comes in at 124% of the national average.

Nashville's average listing price for 2022-04-01 was $904,674, a difference of $209,051 (30.1%) versus the prior year and $29,479 versus the prior month.

For the 2022-04-01 period, Nashville had 1,778 MLS listings, a difference of 281 listings (19%) versus the prior month and -183 listings (-9%) 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 52 days 2,405 sqft
2018-02-01 39 days 2,401 sqft
2018-03-01 36 days 2,400 sqft
2018-04-01 35 days 2,408 sqft
2018-05-01 35 days 2,396 sqft
2018-06-01 35 days 2,390 sqft
2018-07-01 36 days 2,376 sqft
2018-08-01 37 days 2,334 sqft
2018-09-01 38 days 2,308 sqft
2018-10-01 42 days 2,285 sqft
2018-11-01 43 days 2,273 sqft
2018-12-01 50 days 2,280 sqft
2019-01-01 54 days 2,301 sqft
2019-02-01 45 days 2,304 sqft
2019-03-01 39 days 2,341 sqft
2019-04-01 35 days 2,392 sqft
2019-05-01 34 days 2,406 sqft
2019-06-01 36 days 2,415 sqft
2019-07-01 37 days 2,407 sqft
2019-08-01 39 days 2,404 sqft
2019-09-01 38 days 2,389 sqft
2019-10-01 37 days 2,360 sqft
2019-11-01 42 days 2,327 sqft
2019-12-01 46 days 2,322 sqft
2020-01-01 49 days 2,307 sqft
2020-02-01 36 days 2,308 sqft
2020-03-01 35 days 2,330 sqft
2020-04-01 35 days 2,305 sqft
2020-05-01 37 days 2,340 sqft
2020-06-01 34 days 2,333 sqft
2020-07-01 31 days 2,291 sqft
2020-08-01 32 days 2,239 sqft
2020-09-01 33 days 2,175 sqft
2020-10-01 32 days 2,137 sqft
2020-11-01 32 days 2,093 sqft
2020-12-01 37 days 2,066 sqft
2021-01-01 36 days 2,003 sqft
2021-02-01 26 days 1,995 sqft
2021-03-01 22 days 1,968 sqft
2021-04-01 19 days 1,955 sqft
2021-05-01 15 days 2,000 sqft
2021-06-01 15 days 1,993 sqft
2021-07-01 17 days 2,026 sqft
2021-08-01 19 days 2,040 sqft
2021-09-01 21 days 2,044 sqft
2021-10-01 22 days 2,056 sqft
2021-11-01 24 days 2,056 sqft
2021-12-01 31 days 2,057 sqft
2022-01-01 29 days 2,041 sqft
2022-02-01 16 days 2,046 sqft
2022-03-01 14 days 2,042 sqft
2022-04-01 11 days 2,112 sqft
Nashville's median listing age (time on market) for 2022-04-01 was 11 days. This is -42% shorter than the same period one year ago.

Nashville's median square footage for active listings during the 2022-04-01 period was 2,112 sqft. One year prior, the average listing was 1,955 sqft.