Newport USDA Loan Rates, Closing Costs & Stats

Newport, 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.

    Newport's 9 lenders originated 14 USDA loans during 2023. The total origination value was $3,050,000, with an average USDA loan value of $217,857.

    Newport USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Newport averaged 6.29% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

    Newport's average USDA mortgage closing costs are $5,664.

    The average rate for the prior week (2024-12-06) was 6.52% and one month ago for the week of 2024-11-08, the average rate was 6.64%.

    The average rate one year ago was 7.01%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.3%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Newport 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 Newport level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MORTGAGE INVESTORS GROUP, INC. 2 6.00% $5,928
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.63% $6,769
    FIRST COMMUNITY MORTGAGE, INC. 1 5.50% $6,954
    GVC MORTGAGE, INC. 1 6.38% $10,493
    MID AMERICA MORTGAGE, INC. 1 6.75% $5,404
    NEWREZ LLC 1 5.75% $7,106
    Northpointe Bank 1 6.25% $9,044
    Truist 1 6.63% $9,019
    CARDINAL FINANCIAL 1 7.25% $17,742

    The top Newport USDA lender as defined by loan originations is MORTGAGE INVESTORS GROUP, INC., with 2 USDA loans originated. Their average total fees are $5,928, which is $841 lower than the next largest lender, AMERICAN FINANCIAL RESOURCES, INC..

    The lowest fee Newport USDA lenders (with over 10 loans originated) are .

    The lowest rate Newport USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Newport (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 $160,450 (-5.1%) $204,513 (0.3%) 0.00 139
    2018-02-01 $160,950 (-4.8%) $201,796 (-0.6%) 0.00 138
    2018-03-01 $174,900 (7.0%) $222,106 (13.2%) 0.00 138
    2018-04-01 $183,267 (13.1%) $242,544 (23.4%) 0.00 136
    2018-05-01 $186,200 (14.5%) $236,609 (17.8%) 0.00 145
    2018-06-01 $190,000 (14.1%) $239,779 (20.0%) 0.00 147
    2018-07-01 $189,475 (11.8%) $236,145 (15.0%) 0.00 154
    2018-08-01 $179,900 (5.9%) $232,410 (12.2%) 0.00 161
    2018-09-01 $179,450 (3.2%) $231,965 (9.2%) 0.00 150
    2018-10-01 $179,225 (4.8%) $234,582 (9.6%) 0.00 150
    2018-11-01 $178,725 (5.6%) $237,820 (11.9%) 0.00 149
    2018-12-01 $179,450 (7.5%) $240,201 (13.7%) 0.00 153
    2019-01-01 $179,950 (12.2%) $252,738 (23.6%) 0.00 139
    2019-02-01 $181,150 (12.6%) $251,717 (24.7%) 0.00 144
    2019-03-01 $179,900 (2.9%) $250,068 (12.6%) 0.00 138
    2019-04-01 $179,900 (-1.8%) $247,085 (1.9%) 0.00 136
    2019-05-01 $179,925 (-3.4%) $247,640 (4.7%) 0.00 137
    2019-06-01 $185,000 (-2.6%) $247,419 (3.2%) 0.00 143
    2019-07-01 $199,000 (5.0%) $263,741 (11.7%) 0.00 142
    2019-08-01 $210,155 (16.8%) $264,752 (13.9%) 0.00 142
    2019-09-01 $226,886 (26.4%) $272,708 (17.6%) 0.00 143
    2019-10-01 $241,950 (35.0%) $280,280 (19.5%) 0.00 141
    2019-11-01 $247,450 (38.5%) $286,437 (20.4%) 0.00 141
    2019-12-01 $244,475 (36.2%) $283,607 (18.1%) 0.00 130
    2020-01-01 $227,400 (26.4%) $279,196 (10.5%) 0.00 121
    2020-02-01 $229,900 (26.9%) $284,547 (13.0%) 0.00 113
    2020-03-01 $228,450 (27.0%) $296,155 (18.4%) 0.00 104
    2020-04-01 $239,225 (33.0%) $297,490 (20.4%) 0.00 100
    2020-05-01 $265,000 (47.3%) $318,398 (28.6%) 0.00 92
    2020-06-01 $260,950 (41.1%) $326,463 (32.0%) 0.00 92
    2020-07-01 $263,450 (32.4%) $334,424 (26.8%) 0.00 82
    2020-08-01 $269,900 (28.4%) $339,447 (28.2%) 0.00 77
    2020-09-01 $259,850 (14.5%) $314,958 (15.5%) 0.00 84
    2020-10-01 $248,750 (2.8%) $301,909 (7.7%) 0.00 81
    2020-11-01 $279,225 (12.8%) $338,754 (18.3%) 0.00 69
    2020-12-01 $299,500 (22.5%) $370,549 (30.7%) 0.00 59
    2021-01-01 $265,500 (16.8%) $347,068 (24.3%) 0.00 58
    2021-02-01 $252,475 (9.8%) $346,869 (21.9%) 0.00 52
    2021-03-01 $264,475 (15.8%) $386,307 (30.4%) 0.00 40
    2021-04-01 $247,175 (3.3%) $384,430 (29.2%) 0.00 46
    2021-05-01 $249,900 (-5.7%) $352,584 (10.7%) 0.00 49
    2021-06-01 $277,500 (6.3%) $364,904 (11.8%) 0.00 50
    2021-07-01 $275,000 (4.4%) $378,116 (13.1%) 0.00 65
    2021-08-01 $291,125 (7.9%) $400,167 (17.9%) 0.00 57
    2021-09-01 $332,319 (27.9%) $388,767 (23.4%) 0.00 59
    2021-10-01 $332,338 (33.6%) $366,348 (21.3%) 0.00 63
    2021-11-01 $335,250 (20.1%) $415,059 (22.5%) 0.00 54
    2021-12-01 $332,450 (11.0%) $447,077 (20.7%) 0.00 51
    2022-01-01 $319,000 (20.2%) $438,253 (26.3%) 0.00 43
    2022-02-01 $299,675 (18.7%) $418,278 (20.6%) 0.00 44
    2022-03-01 $299,900 (13.4%) $424,333 (9.8%) 0.00 52
    2022-04-01 $379,900 (53.7%) $485,357 (26.3%) 0.00 61
    2022-05-01 $352,650 (41.1%) $522,320 (48.1%) 0.00 80
    2022-06-01 $387,400 (39.6%) $554,980 (52.1%) 0.00 78
    2022-07-01 $379,300 (37.9%) $543,459 (43.7%) 0.00 81
    2022-08-01 $351,750 (20.8%) $533,698 (33.4%) 0.00 92
    2022-09-01 $349,225 (5.1%) $502,491 (29.3%) 0.00 101
    2022-10-01 $350,000 (5.3%) $512,185 (39.8%) 0.00 101
    2022-11-01 $330,000 (-1.6%) $475,865 (14.7%) 0.00 99
    2022-12-01 $334,950 (0.8%) $461,647 (3.3%) 0.00 92
    2023-01-01 $362,500 (13.6%) $496,047 (13.2%) 0.00 80
    2023-02-01 $350,000 (16.8%) $479,557 (14.7%) 0.00 65
    2023-03-01 $339,900 (13.3%) $450,459 (6.2%) 0.00 57
    2023-04-01 $382,000 (0.6%) $464,581 (-4.3%) 0.00 68
    2023-05-01 $399,450 (13.3%) $495,229 (-5.2%) 0.00 61
    2023-06-01 $372,000 (-4.0%) $458,071 (-17.5%) 0.00 70
    2023-07-01 $368,500 (-2.9%) $475,426 (-12.5%) 0.00 72
    2023-08-01 $371,725 (5.7%) $487,546 (-8.7%) 0.00 76
    2023-09-01 $354,500 (1.5%) $486,099 (-3.3%) 0.00 80
    2023-10-01 $349,475 (-0.2%) $514,600 (0.5%) 0.00 81
    2023-11-01 $382,225 (15.8%) $557,315 (17.1%) 0.00 96
    2023-12-01 $429,000 (28.1%) $589,164 (27.6%) 0.00 94
    2024-01-01 $418,650 (15.5%) $588,046 (18.6%) 0.00 87
    2024-02-01 $375,725 (7.4%) $539,884 (12.6%) 0.00 78
    2024-03-01 $349,500 (2.8%) $493,598 (9.6%) 0.00 94
    2024-04-01 $368,675 (-3.5%) $516,186 (11.1%) 0.00 107
    2024-05-01 $389,625 (-2.5%) $534,965 (8.0%) 0.00 108
    2024-06-01 $394,500 (6.1%) $536,046 (17.0%) 0.00 131
    2024-07-01 $387,425 (5.1%) $514,846 (8.3%) 0.00 138
    2024-08-01 $389,900 (4.9%) $500,776 (2.7%) 0.00 136
    2024-09-01 $395,000 (11.4%) $501,283 (3.1%) 0.00 141
    2024-10-01 $389,950 (11.6%) $505,788 (-1.7%) 0.00 136
    2024-11-01 $382,400 (0.1%) $501,320 (-10.1%) 0.00 144
    Newport's median listing price for 2024-11-01 was $382,400, a difference of $175 (0.1%) versus the prior year and $-7,550 versus the prior month.

    Newport's median listing price comes in at 0% of the national average.

    Newport's average listing price for 2024-11-01 was $501,320, a difference of $-55,995 (-10.1%) versus the prior year and $-4,468 versus the prior month.

    For the 2024-11-01 period, Newport had 144 MLS listings, a difference of 8 listings (6%) versus the prior month and 48 listings (50%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Newport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,592 sqft
    2018-02-01 0 days 1,590 sqft
    2018-03-01 0 days 1,620 sqft
    2018-04-01 0 days 1,631 sqft
    2018-05-01 0 days 1,592 sqft
    2018-06-01 0 days 1,584 sqft
    2018-07-01 0 days 1,578 sqft
    2018-08-01 0 days 1,622 sqft
    2018-09-01 0 days 1,572 sqft
    2018-10-01 0 days 1,536 sqft
    2018-11-01 0 days 1,536 sqft
    2018-12-01 0 days 1,536 sqft
    2019-01-01 0 days 1,518 sqft
    2019-02-01 0 days 1,587 sqft
    2019-03-01 0 days 1,604 sqft
    2019-04-01 0 days 1,621 sqft
    2019-05-01 0 days 1,631 sqft
    2019-06-01 0 days 1,600 sqft
    2019-07-01 0 days 1,600 sqft
    2019-08-01 0 days 1,658 sqft
    2019-09-01 0 days 1,703 sqft
    2019-10-01 0 days 1,737 sqft
    2019-11-01 0 days 1,740 sqft
    2019-12-01 0 days 1,785 sqft
    2020-01-01 0 days 1,731 sqft
    2020-02-01 0 days 1,841 sqft
    2020-03-01 0 days 1,792 sqft
    2020-04-01 0 days 1,777 sqft
    2020-05-01 0 days 1,843 sqft
    2020-06-01 0 days 1,874 sqft
    2020-07-01 0 days 1,848 sqft
    2020-08-01 0 days 1,984 sqft
    2020-09-01 0 days 1,811 sqft
    2020-10-01 0 days 1,771 sqft
    2020-11-01 0 days 1,799 sqft
    2020-12-01 0 days 1,801 sqft
    2021-01-01 0 days 1,622 sqft
    2021-02-01 0 days 1,680 sqft
    2021-03-01 0 days 1,452 sqft
    2021-04-01 0 days 1,440 sqft
    2021-05-01 0 days 1,423 sqft
    2021-06-01 0 days 1,479 sqft
    2021-07-01 0 days 1,591 sqft
    2021-08-01 0 days 1,689 sqft
    2021-09-01 0 days 1,783 sqft
    2021-10-01 0 days 1,799 sqft
    2021-11-01 0 days 1,776 sqft
    2021-12-01 0 days 2,039 sqft
    2022-01-01 0 days 1,892 sqft
    2022-02-01 0 days 1,715 sqft
    2022-03-01 0 days 1,620 sqft
    2022-04-01 0 days 1,680 sqft
    2022-05-01 0 days 1,762 sqft
    2022-06-01 0 days 1,896 sqft
    2022-07-01 0 days 1,849 sqft
    2022-08-01 0 days 1,827 sqft
    2022-09-01 0 days 1,744 sqft
    2022-10-01 0 days 1,686 sqft
    2022-11-01 0 days 1,550 sqft
    2022-12-01 0 days 1,521 sqft
    2023-01-01 0 days 1,555 sqft
    2023-02-01 0 days 1,555 sqft
    2023-03-01 0 days 1,611 sqft
    2023-04-01 0 days 1,516 sqft
    2023-05-01 0 days 1,512 sqft
    2023-06-01 0 days 1,739 sqft
    2023-07-01 0 days 1,738 sqft
    2023-08-01 0 days 1,569 sqft
    2023-09-01 0 days 1,716 sqft
    2023-10-01 0 days 1,641 sqft
    2023-11-01 0 days 1,700 sqft
    2023-12-01 0 days 1,722 sqft
    2024-01-01 0 days 1,720 sqft
    2024-02-01 0 days 1,588 sqft
    2024-03-01 0 days 1,576 sqft
    2024-04-01 0 days 1,607 sqft
    2024-05-01 0 days 1,712 sqft
    2024-06-01 0 days 1,694 sqft
    2024-07-01 0 days 1,752 sqft
    2024-08-01 0 days 1,680 sqft
    2024-09-01 0 days 1,649 sqft
    2024-10-01 0 days 1,724 sqft
    2024-11-01 0 days 1,680 sqft
    Newport's median listing age (time on market) for 2024-11-01 was 0 days.

    Newport's median square footage for active listings during the 2024-11-01 period was 1,680 sqft. One year prior, the average listing was 1,700 sqft.