Nashville USDA Loan Rates, Closing Costs & Stats

NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN

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    • 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.