Nashville USDA Loans

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 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.