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%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 23 4.84% $8,976
CMG MORTGAGE, INC. 20 4.84% $8,830
NVR Mortgage Finance, Inc. 18 3.37% $8,579
FIRST COMMUNITY MORTGAGE, INC. 15 4.38% $7,787
HOME POINT FINANCIAL CORPORATION 15 3.86% $6,930
MORTGAGE INVESTORS GROUP, INC. 14 4.79% $6,463
PRIMARY RESIDENTIAL MORTGAGE, INC. 10 4.49% $8,445
ACOPIA, LLC 7 4.02% $6,171
GUARANTY HOME MORTGAGE CORPORATION 7 3.84% $7,083
First Horizon Bank 7 4.14% $6,947
First Federal Bank 7 4.34% $8,277
DHI MORTGAGE COMPANY, LTD. 7 3.50% $5,421
CALIBER HOME LOANS, INC. 6 3.42% $7,191
Bank of England 6 5.56% $6,242
FirstBank 6 4.35% $6,052
SUCCESS MORTGAGE PARTNERS, INC. 6 5.17% $8,334
EUSTIS AND AMERICAN MORTGAGE COMPANY 5 5.18% $7,417
CapStar Bank 5 4.85% $8,547
Pinnacle Bank 5 4.38% $7,665
LOANDEPOT.COM, LLC 5 4.38% $7,809
Colten Mortgage, LLC 5 4.03% $6,147
The Farmers Bank 5 3.65% $6,140
Legends Bank 4 3.31% $4,288
CROSSCOUNTRY MORTGAGE, LLC 4 4.78% $10,043
MOVEMENT MORTGAGE, LLC 4 4.06% $9,775
PENNYMAC LOAN SERVICES, LLC 4 2.89% $7,102
Wilson Bank And Trust 4 5.09% $3,571
SWBC MORTGAGE CORPORATION 4 5.56% $6,484
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 3.19% $5,980
The First National Bank of Middle Tennessee 4 3.66% $7,059
The Home Loan Expert LLC 4 5.25% $7,605
VANDERBILT MORTGAGE AND FINANCE, INC. 3 3.63% $8,765
AMERICAN MORTGAGE SERVICE COMPANY 3 4.54% $6,571
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 4.38% $8,044
DAS Acquisition Company, LLC 3 3.25% $7,091
THE MORTGAGE FIRM, INC. 3 4.79% $7,396
GUARANTEED RATE, INC. 3 5.00% $9,426
First Vision Bank of Tennessee 3 4.79% $8,257
EVERETT FINANCIAL, INC. 2 5.63% $6,103
CASTLE & COOKE MORTGAGE, LLC 2 4.88% $7,020
Austin Capital Bank SSB 2 3.63% $6,787
LAND HOME FINANCIAL SERVICES, INC. 2 4.19% $5,192
Legacy Home Loans, LLC 2 4.56% $6,313
CHURCHILL MORTGAGE CORPORATION 2 4.81% $6,763
Ameris Bank 2 4.75% $8,666
F&M Bank 2 5.50% $10,372
CARDINAL FINANCIAL 2 5.50% $10,878
EAGLE HOME MORTGAGE, LLC 2 5.06% $9,276
Atlantic Union Bank 2 4.63% $8,986
HOMESIDE FINANCIAL, LLC 2 6.38% $12,656
STOCKTON MORTGAGE CORPORATION 2 5.63% $7,103
U.S. Bank 2 4.31% $6,323
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 2.88% $4,897
CERTAINTY HOME LOANS, LLC 1 3.75% $5,891
CIS Financial Services, Inc. 1 4.50% $6,025
COMMUNITY MORTGAGE CORPORATION 1 2.75% $5,439
DELMAR FINANCIAL COMPANY 1 4.63% $6,718
EVANSVILLE TEACHERS 1 3.50% $7,550
Bell Bank 1 5.63% $7,995
First Guaranty Mortgage Corporation 1 3.13% $5,790
Flagstar Bank, FSB 1 3.75% $5,735
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.63% $8,981
GUARANTY MORTGAGE SERVICES, L.L.C. 1 3.13% $9,678
HAMILTON HOME LOANS, INC. 1 3.63% $8,890
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.38% $2,529
Hometown Equity Mortgage, LLC 1 6.50% $14,180
INSPIRE HOME LOANS INC. 1 3.25% $12,009
INTERLINC MORTGAGE SERVICES, LLC 1 5.75% $2,939
Ixonia Bank 1 5.63% $10,295
KELLEY MORTGAGE, LLC 1 4.00% $1,610
MID AMERICA MORTGAGE, INC. 1 6.13% $4,563
AmRes Corporation 1 2.50% $8,216
NATIONS RELIABLE LENDING, LLC 1 5.75% $10,343
NEWREZ LLC 1 6.75% $10,943
PLANET HOME LENDING, LLC 1 5.38% $6,891
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $10,766
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 4.75% $10,172
Regions Bank 1 3.50% $8,315
RELIANCE FIRST CAPITAL, LLC 1 3.25% $2,534
SeaTrust Mortgage Company 1 6.50% $9,191
Simmons Bank 1 5.63% $7,948
SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.50% $3,479
SOUTHWEST FUNDING, LP 1 6.75% $14,553
Synovus Bank 1 2.75% $6,310
T2 FINANCIAL LLC 1 4.13% $5,470
TENNESSEE TRUST MORTGAGE, INC 1 6.00% $8,203
Truist 1 5.00% $7,158
United Community Bank 1 4.75% $4,636
Christensen Financial, Inc. 1 3.38% $10,152

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. 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%) 1.23 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 for 2023-05-01 was $580,000, a difference of $30,100 (5.5%) versus the prior year and $15,975 versus the prior month.

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. 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 2,304 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 listing age (time on market) for 2023-05-01 was 30 days. This is 161% longer than the same period one year ago.

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.