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 57 lenders originated 167 USDA loans during 2023. The total origination value was $47,085,000, with an average USDA loan value of $281,946.

Nashville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Nashville averaged 6.49% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

Nashville's average USDA mortgage closing costs are $5,848.

The average rate for the prior week (2024-05-31) was 6.57% and one month ago for the week of 2024-05-03, the average rate was 6.76%.

The average rate one year ago was 6.46%.

For refis of the same type during the week of 2024-06-07, the average rate was 7%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 18 5.75% $10,751
CMG MORTGAGE, INC. 13 5.93% $9,338
DHI MORTGAGE COMPANY, LTD. 12 5.22% $5,372
NVR Mortgage Finance, Inc. 11 5.75% $7,690
FIRST COMMUNITY MORTGAGE, INC. 9 6.04% $10,641
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.05% $8,636
NEWREZ LLC 7 5.80% $7,630
MORTGAGE INVESTORS GROUP, INC. 7 5.89% $6,908
ACOPIA, LLC 6 5.98% $7,907
SeaTrust Mortgage Company 5 5.68% $10,023
INTERLINC MORTGAGE SERVICES, LLC 4 6.47% $4,091
HOMESIDE FINANCIAL, LLC 4 6.28% $8,496
First Vision Bank of Tennessee 3 5.92% $9,551
The Farmers Bank 3 5.63% $6,772
SUN WEST MORTGAGE COMPANY, INC. 2 6.56% $8,271
CapStar Bank 2 6.13% $9,490
FirstBank 2 6.13% $11,312
FIRST COLONY MORTGAGE CORPORATION 2 6.31% $7,206
Bank of Tennessee 2 7.18% $8,069
GUARANTEED RATE, INC. 2 6.13% $7,362
ISERVE RESIDENTIAL LENDING, LLC 2 6.63% $9,415
MOVEMENT MORTGAGE, LLC 2 6.75% $9,917
CHURCHILL MORTGAGE CORPORATION 2 6.13% $7,813
THRIVE MORTGAGE, LLC 2 6.25% $8,745
FLAT BRANCH MORTGAGE, INC. 1 6.25% $6,025
TOWNE MORTGAGE COMPANY 1 7.25% $7,939
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.13% $7,758
Wilson Bank And Trust 1 5.75% $5,994
Bank of England 1 6.38% $6,875
AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $10,199
LAND HOME FINANCIAL SERVICES, INC. 1 5.88% $6,951
Legacy Home Loans, LLC 1 5.63% $6,454
Ameris Bank 1 6.50% $8,156
Mortgage Research Center, LLC 1 5.25% $4,483
U.S. Bank 1 5.50% $5,531
MUTUAL OF OMAHA MORTGAGE, INC. 1 4.75% $10,472
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.13% $6,882
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.13% $7,985
PLANET HOME LENDING, LLC 1 5.63% $6,454
PLAZA HOME MORTGAGE, INC. 1 6.63% $7,820
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $6,205
Regions Bank 1 6.75% $5,353
RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 5.63% $7,058
AMERICAN FINANCIAL RESOURCES, INC. 1 4.75% $13,903
SHELTER LENDING SERVICES, L.L.C. 1 6.75% $10,890
SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $8,733
VAN DYK MORTGAGE CORPORATION 1 5.88% $5,432
SWBC MORTGAGE CORPORATION 1 6.13% $2,853
EAGLE HOME MORTGAGE, LLC 1 4.99% $9,049
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 7.38% $11,794
TENNESSEE TRUST MORTGAGE, INC 1 6.25% $5,675
Fifth Third Bank 1 5.38% $10,707
CROSSCOUNTRY MORTGAGE, LLC 1 7.00% $7,354
The First National Bank of Middle Tennessee 1 7.13% $8,728
Citizens Bank 1 5.25% $9,622
CARDINAL FINANCIAL 1 5.25% $11,337
Flagstar Bank, FSB 1 5.75% $10,021

The top Nashville USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 18 USDA loans originated. Their average total fees are $10,751, which is $1,414 higher than the next largest lender, CMG MORTGAGE, INC..

The lowest fee Nashville USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($5,372), NVR Mortgage Finance, Inc. ($7,690), CMG MORTGAGE, INC. ($9,338), UNITED WHOLESALE MORTGAGE, LLC ($10,751) and .

The lowest rate Nashville USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.22%), NVR Mortgage Finance, Inc. (5.75%), UNITED WHOLESALE MORTGAGE, LLC (5.75%), CMG MORTGAGE, INC. (5.93%) and .


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 $383,919 (13.0%) $528,839 (12.1%) 1.42 5,897
2018-02-01 $382,445 (10.0%) $526,076 (10.2%) 1.39 5,916
2018-03-01 $385,000 (9.5%) $534,819 (10.0%) 1.35 5,928
2018-04-01 $389,377 (8.8%) $540,070 (8.7%) 1.32 6,322
2018-05-01 $385,000 (-1.3%) $537,693 (-4.7%) 1.29 6,839
2018-06-01 $379,900 (-2.6%) $531,125 (-5.5%) 1.27 7,339
2018-07-01 $374,335 (-3.6%) $524,918 (-4.9%) 1.25 7,910
2018-08-01 $369,450 (-5.0%) $517,990 (-4.8%) 1.24 8,138
2018-09-01 $365,000 (-6.2%) $508,242 (-5.9%) 1.23 8,783
2018-10-01 $359,888 (-6.4%) $504,088 (-5.2%) 1.22 9,142
2018-11-01 $354,900 (-6.6%) $501,349 (-5.2%) 1.20 9,077
2018-12-01 $355,900 (-7.3%) $504,444 (-5.0%) 1.23 8,459
2019-01-01 $356,818 (-7.1%) $503,943 (-4.7%) 1.23 7,996
2019-02-01 $359,899 (-5.9%) $507,320 (-3.6%) 1.22 7,771
2019-03-01 $364,237 (-5.4%) $521,348 (-2.5%) 1.19 7,572
2019-04-01 $369,945 (-5.0%) $533,099 (-1.3%) 1.17 7,503
2019-05-01 $374,575 (-2.7%) $539,227 (0.3%) 1.17 7,779
2019-06-01 $378,000 (-0.5%) $548,216 (3.2%) 1.18 7,786
2019-07-01 $375,000 (0.2%) $544,535 (3.7%) 1.17 7,884
2019-08-01 $373,691 (1.2%) $545,650 (5.3%) 1.18 7,845
2019-09-01 $371,615 (1.8%) $547,416 (7.7%) 1.19 7,780
2019-10-01 $369,950 (2.8%) $546,752 (8.5%) 1.19 7,811
2019-11-01 $369,900 (4.2%) $545,306 (8.8%) 1.21 7,678
2019-12-01 $367,524 (3.3%) $542,721 (7.6%) 1.23 7,085
2020-01-01 $366,450 (2.7%) $540,612 (7.3%) 1.22 6,378
2020-02-01 $369,900 (2.8%) $545,436 (7.5%) 1.21 5,922
2020-03-01 $379,700 (4.3%) $550,681 (5.6%) 1.19 5,826
2020-04-01 $376,415 (1.8%) $538,980 (1.1%) 1.18 6,557
2020-05-01 $385,000 (2.8%) $559,814 (3.8%) 1.17 6,556
2020-06-01 $392,300 (3.8%) $578,798 (5.6%) 1.16 6,091
2020-07-01 $391,995 (4.5%) $590,848 (8.5%) 1.14 6,086
2020-08-01 $394,990 (5.7%) $610,364 (11.9%) 1.13 5,342
2020-09-01 $399,900 (7.6%) $606,626 (10.8%) 1.15 4,810
2020-10-01 $399,900 (8.1%) $620,251 (13.4%) 1.15 4,529
2020-11-01 $398,375 (7.7%) $620,681 (13.8%) 1.16 4,182
2020-12-01 $395,175 (7.5%) $624,692 (15.1%) 1.18 3,706
2021-01-01 $392,915 (7.2%) $623,251 (15.3%) 1.17 3,148
2021-02-01 $397,400 (7.4%) $651,751 (19.5%) 1.16 2,504
2021-03-01 $399,900 (5.3%) $663,517 (20.5%) 1.13 2,214
2021-04-01 $411,943 (9.4%) $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 $428,000 (9.1%) $759,730 (31.3%) 1.13 2,132
2021-07-01 $449,000 (14.5%) $781,510 (32.3%) 1.18 2,557
2021-08-01 $442,025 (11.9%) $767,224 (25.7%) 1.18 2,664
2021-09-01 $447,245 (11.8%) $770,786 (27.1%) 1.19 2,809
2021-10-01 $456,900 (14.3%) $779,808 (25.7%) 1.22 2,876
2021-11-01 $459,945 (15.5%) $793,667 (27.9%) 1.23 2,559
2021-12-01 $459,950 (16.4%) $825,520 (32.2%) 1.25 2,036
2022-01-01 $459,600 (17.0%) $842,380 (35.2%) 1.24 1,623
2022-02-01 $475,891 (19.8%) $826,952 (26.9%) 1.24 1,519
2022-03-01 $499,900 (25.0%) $869,720 (31.1%) 1.25 1,598
2022-04-01 $525,000 (27.4%) $899,874 (29.9%) 1.25 1,966
2022-05-01 $549,900 (32.5%) $919,840 (26.9%) 1.26 2,689
2022-06-01 $562,450 (31.4%) $886,474 (16.7%) 1.25 3,933
2022-07-01 $549,999 (22.5%) $848,183 (8.5%) 1.24 5,391
2022-08-01 $534,722 (21.0%) $812,752 (5.9%) 1.24 6,070
2022-09-01 $529,450 (18.4%) $816,834 (6.0%) 1.24 6,352
2022-10-01 $525,000 (14.9%) $816,453 (4.7%) 1.24 7,066
2022-11-01 $524,425 (14.0%) $806,923 (1.7%) 1.26 7,270
2022-12-01 $519,000 (12.8%) $806,894 (-2.3%) 1.28 6,628
2023-01-01 $509,200 (10.8%) $785,882 (-6.7%) 1.26 6,420
2023-02-01 $517,700 (8.8%) $799,067 (-3.4%) 1.25 6,072
2023-03-01 $527,495 (5.5%) $820,130 (-5.7%) 1.24 5,643
2023-04-01 $564,025 (7.4%) $867,295 (-3.6%) 1.31 5,750
2023-05-01 $580,000 (5.5%) $920,875 (0.1%) 1.32 6,042
2023-06-01 $590,695 (5.0%) $938,703 (5.9%) 1.33 6,423
2023-07-01 $594,900 (8.2%) $942,855 (11.2%) 1.35 6,597
2023-08-01 $583,495 (9.1%) $920,370 (13.2%) 1.34 6,834
2023-09-01 $579,000 (9.4%) $924,643 (13.2%) 1.35 6,884
2023-10-01 $573,430 (9.2%) $925,905 (13.4%) 1.35 6,991
2023-11-01 $562,500 (7.3%) $911,240 (12.9%) 1.34 7,338
2023-12-01 $559,000 (7.7%) $901,460 (11.7%) 1.36 6,916
2024-01-01 $559,926 (10.0%) $901,165 (14.7%) 1.37 6,120
2024-02-01 $560,243 (8.2%) $900,001 (12.6%) 1.35 5,903
2024-03-01 $558,990 (6.0%) $907,206 (10.6%) 1.32 6,166
2024-04-01 $573,475 (1.7%) $919,909 (6.1%) 1.33 6,733
2024-05-01 $588,450 (1.5%) $936,713 (1.7%) 1.33 7,116
Nashville's median listing price for 2024-05-01 was $588,450, a difference of $8,450 (1.5%) versus the prior year and $14,975 versus the prior month.

Nashville's median listing price comes in at 133% of the national average.

Nashville's average listing price for 2024-05-01 was $936,713, a difference of $15,838 (1.7%) versus the prior year and $16,804 versus the prior month.

For the 2024-05-01 period, Nashville had 7,116 MLS listings, a difference of 383 listings (6%) versus the prior month and 1,074 listings (18%) 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 2,303 sqft
2019-03-01 39 days 2,350 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 2,305 sqft
2020-05-01 36 days 2,333 sqft
2020-06-01 33 days 2,332 sqft
2020-07-01 31 days 2,288 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 2,055 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 1,987 sqft
2021-07-01 15 days 2,020 sqft
2021-08-01 16 days 2,029 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 2,052 sqft
2022-02-01 14 days 2,038 sqft
2022-03-01 11 days 2,040 sqft
2022-04-01 10 days 2,106 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 2,198 sqft
2023-01-01 52 days 2,178 sqft
2023-02-01 38 days 2,184 sqft
2023-03-01 35 days 2,205 sqft
2023-04-01 32 days 2,251 sqft
2023-05-01 30 days 2,288 sqft
2023-06-01 34 days 2,303 sqft
2023-07-01 33 days 2,298 sqft
2023-08-01 37 days 2,282 sqft
2023-09-01 37 days 2,273 sqft
2023-10-01 37 days 2,259 sqft
2023-11-01 39 days 2,234 sqft
2023-12-01 44 days 2,210 sqft
2024-01-01 46 days 2,201 sqft
2024-02-01 38 days 2,189 sqft
2024-03-01 32 days 2,170 sqft
2024-04-01 31 days 2,180 sqft
2024-05-01 30 days 2,204 sqft
Nashville's median listing age (time on market) for 2024-05-01 was 30 days. This is 0% longer than the same period one year ago.

Nashville's median square footage for active listings during the 2024-05-01 period was 2,204 sqft. One year prior, the average listing was 2,288 sqft.