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 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.