Newport USDA Loan Rates, Closing Costs & Stats

Newport, 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.

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 6.64% for the week of 2024-05-17, compared to the national average (all USDA variants) of 6.75% for the same period.

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

The average rate for the prior week (2024-05-10) was 6.67% and one month ago for the week of 2024-04-12, the average rate was 6.9%.

The average rate one year ago was 6.38%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.65%.

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
Newport's median listing price for 2024-04-01 was $368,675, a difference of $-13,325 (-3.5%) versus the prior year and $19,175 versus the prior month.

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

Newport's average listing price for 2024-04-01 was $516,186, a difference of $51,605 (11.1%) versus the prior year and $22,588 versus the prior month.

For the 2024-04-01 period, Newport had 107 MLS listings, a difference of 13 listings (14%) versus the prior month and 39 listings (57%) 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
Newport's median listing age (time on market) for 2024-04-01 was 0 days.

Newport's median square footage for active listings during the 2024-04-01 period was 1,607 sqft. One year prior, the average listing was 1,516 sqft.