Shelbyville USDA Loan Rates, Closing Costs & Stats

Shelbyville, TN

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Shelbyville's 10 lenders originated 34 USDA loans during 2023. The total origination value was $8,780,000, with an average USDA loan value of $258,235.

    Shelbyville USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Shelbyville averaged 6.66% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Shelbyville's average USDA mortgage closing costs are $5,316.

    The average rate for the prior week (2024-04-12) was 6.81% and one month ago for the week of 2024-03-15, the average rate was 6.49%.

    The average rate one year ago was 6.23%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.99%.

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

    Shelbyville 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 Shelbyville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FIRST COMMUNITY MORTGAGE, INC. 16 6.27% $7,507
    CMG MORTGAGE, INC. 5 6.93% $9,455
    UNITED WHOLESALE MORTGAGE, LLC 3 6.17% $9,055
    FirstBank 2 5.63% $8,615
    CROSSCOUNTRY MORTGAGE, LLC 1 5.63% $10,223
    Equity Prime Mortgage LLC 1 6.25% $14,692
    SeaTrust Mortgage Company 1 5.75% $9,463
    The First National Bank of Middle Tennessee 1 5.63% $8,289
    BROKER SOLUTIONS, INC. 1 7.63% $8,099
    MORTGAGE INVESTORS GROUP, INC. 1 6.00% $6,496

    The top Shelbyville USDA lender as defined by loan originations is FIRST COMMUNITY MORTGAGE, INC., with 16 USDA loans originated. Their average total fees are $7,507, which is $1,947 lower than the next largest lender, CMG MORTGAGE, INC..

    The lowest fee Shelbyville USDA lenders (with over 10 loans originated) are FIRST COMMUNITY MORTGAGE, INC. ($7,507), .

    The lowest rate Shelbyville USDA lenders (with over 10 loans originated) are FIRST COMMUNITY MORTGAGE, INC. (6.27%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Shelbyville (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 $229,900 (17.2%) $398,936 (15.3%) 0.00 137
    2018-02-01 $234,550 (18.6%) $393,905 (21.1%) 0.00 135
    2018-03-01 $247,900 (21.1%) $409,458 (37.4%) 0.00 122
    2018-04-01 $229,500 (6.7%) $394,580 (28.6%) 0.00 129
    2018-05-01 $239,000 (0.2%) $381,327 (-3.9%) 0.00 150
    2018-06-01 $239,250 (-6.2%) $382,090 (-4.7%) 0.00 142
    2018-07-01 $244,900 (2.1%) $420,737 (8.9%) 0.00 136
    2018-08-01 $251,700 (4.9%) $422,274 (5.7%) 0.00 147
    2018-09-01 $269,900 (12.8%) $401,422 (-7.4%) 0.00 151
    2018-10-01 $268,075 (18.5%) $392,625 (-2.0%) 0.00 155
    2018-11-01 $270,700 (18.4%) $414,908 (4.9%) 0.00 146
    2018-12-01 $265,000 (6.2%) $411,439 (-0.5%) 0.00 146
    2019-01-01 $269,125 (17.1%) $403,669 (1.2%) 0.00 140
    2019-02-01 $257,400 (9.7%) $384,184 (-2.5%) 0.00 139
    2019-03-01 $259,900 (4.8%) $387,867 (-5.3%) 0.00 140
    2019-04-01 $259,900 (13.3%) $395,013 (0.1%) 0.00 139
    2019-05-01 $269,900 (12.9%) $394,824 (3.5%) 0.00 143
    2019-06-01 $270,000 (12.9%) $407,951 (6.8%) 0.00 146
    2019-07-01 $273,650 (11.7%) $407,886 (-3.1%) 0.00 144
    2019-08-01 $272,627 (8.3%) $401,434 (-4.9%) 0.00 152
    2019-09-01 $276,718 (2.5%) $393,646 (-1.9%) 0.00 163
    2019-10-01 $275,695 (2.8%) $382,397 (-2.6%) 0.00 172
    2019-11-01 $269,900 (-0.3%) $391,771 (-5.6%) 0.00 176
    2019-12-01 $264,900 (0.0%) $436,480 (6.1%) 0.00 168
    2020-01-01 $245,380 (-8.8%) $401,408 (-0.6%) 0.00 165
    2020-02-01 $254,900 (-1.0%) $409,505 (6.6%) 0.00 165
    2020-03-01 $273,450 (5.2%) $410,463 (5.8%) 0.00 160
    2020-04-01 $249,900 (-3.9%) $399,493 (1.1%) 0.00 163
    2020-05-01 $284,900 (5.6%) $420,358 (6.5%) 0.00 148
    2020-06-01 $308,650 (14.3%) $483,377 (18.5%) 0.00 110
    2020-07-01 $321,150 (17.4%) $496,614 (21.8%) 0.00 102
    2020-08-01 $304,900 (11.8%) $559,386 (39.4%) 0.00 91
    2020-09-01 $297,400 (7.5%) $573,240 (45.6%) 0.00 94
    2020-10-01 $299,900 (8.8%) $561,395 (46.8%) 0.00 100
    2020-11-01 $286,150 (6.0%) $524,578 (33.9%) 0.00 110
    2020-12-01 $299,900 (13.2%) $539,239 (23.5%) 0.00 101
    2021-01-01 $259,900 (5.9%) $475,689 (18.5%) 0.00 94
    2021-02-01 $277,185 (8.7%) $504,390 (23.2%) 0.00 76
    2021-03-01 $280,230 (2.5%) $564,186 (37.5%) 0.00 68
    2021-04-01 $332,225 (32.9%) $660,609 (65.4%) 0.00 51
    2021-05-01 $394,900 (38.6%) $753,930 (79.4%) 0.00 55
    2021-06-01 $454,800 (47.4%) $761,268 (57.5%) 0.00 63
    2021-07-01 $449,900 (40.1%) $703,315 (41.6%) 0.00 75
    2021-08-01 $396,450 (30.0%) $714,006 (27.6%) 0.00 80
    2021-09-01 $388,725 (30.7%) $674,971 (17.8%) 0.00 77
    2021-10-01 $394,690 (31.6%) $690,673 (23.0%) 0.00 72
    2021-11-01 $387,358 (35.4%) $708,919 (35.1%) 0.00 77
    2021-12-01 $389,239 (29.8%) $763,762 (41.6%) 0.00 64
    2022-01-01 $387,500 (49.1%) $732,766 (54.0%) 0.00 56
    2022-02-01 $321,750 (16.1%) $652,808 (29.4%) 0.00 62
    2022-03-01 $357,450 (27.6%) $651,229 (15.4%) 0.00 60
    2022-04-01 $424,999 (27.9%) $694,265 (5.1%) 0.00 76
    2022-05-01 $392,375 (-0.6%) $641,421 (-14.9%) 0.00 94
    2022-06-01 $395,200 (-13.1%) $637,480 (-16.3%) 0.00 124
    2022-07-01 $439,000 (-2.4%) $651,593 (-7.4%) 0.00 142
    2022-08-01 $402,450 (1.5%) $583,565 (-18.3%) 0.00 170
    2022-09-01 $399,450 (2.8%) $571,122 (-15.4%) 0.00 200
    2022-10-01 $399,000 (1.1%) $589,318 (-14.7%) 0.00 208
    2022-11-01 $391,400 (1.0%) $565,910 (-20.2%) 0.00 198
    2022-12-01 $396,450 (1.9%) $567,705 (-25.7%) 0.00 187
    2023-01-01 $393,000 (1.4%) $561,630 (-23.4%) 0.00 176
    2023-02-01 $377,425 (17.3%) $569,150 (-12.8%) 0.00 181
    2023-03-01 $389,225 (8.9%) $560,883 (-13.9%) 0.00 168
    2023-04-01 $399,900 (-5.9%) $618,241 (-11.0%) 0.00 145
    2023-05-01 $437,450 (11.5%) $626,348 (-2.4%) 0.00 150
    2023-06-01 $419,150 (6.1%) $566,919 (-11.1%) 0.00 160
    2023-07-01 $399,000 (-9.1%) $542,556 (-16.7%) 0.00 182
    2023-08-01 $423,750 (5.3%) $564,110 (-3.3%) 0.00 192
    2023-09-01 $395,000 (-1.1%) $561,149 (-1.8%) 0.00 199
    2023-10-01 $350,920 (-12.1%) $529,805 (-10.1%) 0.00 199
    2023-11-01 $367,425 (-6.1%) $542,192 (-4.2%) 0.00 208
    2023-12-01 $356,495 (-10.1%) $534,996 (-5.8%) 0.00 195
    2024-01-01 $362,450 (-7.8%) $533,199 (-5.1%) 0.00 170
    2024-02-01 $382,150 (1.3%) $519,544 (-8.7%) 0.00 163
    2024-03-01 $359,900 (-7.5%) $517,901 (-7.7%) 0.00 157
    Shelbyville's median listing price for 2024-03-01 was $359,900, a difference of $-29,325 (-7.5%) versus the prior year and $-22,250 versus the prior month.

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

    Shelbyville's average listing price for 2024-03-01 was $517,901, a difference of $-42,982 (-7.7%) versus the prior year and $-1,643 versus the prior month.

    For the 2024-03-01 period, Shelbyville had 157 MLS listings, a difference of -6 listings (-4%) versus the prior month and -11 listings (-7%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Shelbyville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,100 sqft
    2018-02-01 0 days 2,032 sqft
    2018-03-01 0 days 2,014 sqft
    2018-04-01 0 days 1,989 sqft
    2018-05-01 0 days 1,958 sqft
    2018-06-01 0 days 1,992 sqft
    2018-07-01 0 days 2,041 sqft
    2018-08-01 0 days 1,946 sqft
    2018-09-01 0 days 2,055 sqft
    2018-10-01 0 days 2,096 sqft
    2018-11-01 0 days 2,097 sqft
    2018-12-01 0 days 2,007 sqft
    2019-01-01 0 days 2,042 sqft
    2019-02-01 0 days 1,863 sqft
    2019-03-01 0 days 1,920 sqft
    2019-04-01 0 days 1,990 sqft
    2019-05-01 0 days 2,093 sqft
    2019-06-01 0 days 2,124 sqft
    2019-07-01 0 days 2,055 sqft
    2019-08-01 0 days 1,969 sqft
    2019-09-01 0 days 2,040 sqft
    2019-10-01 0 days 2,076 sqft
    2019-11-01 0 days 2,024 sqft
    2019-12-01 0 days 1,950 sqft
    2020-01-01 0 days 1,838 sqft
    2020-02-01 0 days 1,955 sqft
    2020-03-01 0 days 1,979 sqft
    2020-04-01 0 days 1,953 sqft
    2020-05-01 0 days 1,979 sqft
    2020-06-01 0 days 2,059 sqft
    2020-07-01 0 days 2,156 sqft
    2020-08-01 0 days 2,204 sqft
    2020-09-01 0 days 2,135 sqft
    2020-10-01 0 days 1,981 sqft
    2020-11-01 0 days 1,929 sqft
    2020-12-01 0 days 1,937 sqft
    2021-01-01 0 days 1,845 sqft
    2021-02-01 0 days 1,891 sqft
    2021-03-01 0 days 1,979 sqft
    2021-04-01 0 days 1,982 sqft
    2021-05-01 0 days 2,125 sqft
    2021-06-01 0 days 2,381 sqft
    2021-07-01 0 days 2,247 sqft
    2021-08-01 0 days 2,035 sqft
    2021-09-01 0 days 1,978 sqft
    2021-10-01 0 days 1,989 sqft
    2021-11-01 0 days 2,109 sqft
    2021-12-01 0 days 2,130 sqft
    2022-01-01 0 days 1,973 sqft
    2022-02-01 0 days 1,675 sqft
    2022-03-01 0 days 1,955 sqft
    2022-04-01 0 days 1,973 sqft
    2022-05-01 0 days 1,932 sqft
    2022-06-01 0 days 1,973 sqft
    2022-07-01 0 days 2,036 sqft
    2022-08-01 0 days 1,961 sqft
    2022-09-01 0 days 1,970 sqft
    2022-10-01 0 days 1,973 sqft
    2022-11-01 0 days 1,963 sqft
    2022-12-01 0 days 1,973 sqft
    2023-01-01 0 days 1,976 sqft
    2023-02-01 0 days 1,933 sqft
    2023-03-01 0 days 1,973 sqft
    2023-04-01 0 days 1,959 sqft
    2023-05-01 0 days 1,995 sqft
    2023-06-01 0 days 1,973 sqft
    2023-07-01 0 days 1,951 sqft
    2023-08-01 0 days 1,956 sqft
    2023-09-01 0 days 1,883 sqft
    2023-10-01 0 days 1,849 sqft
    2023-11-01 0 days 1,833 sqft
    2023-12-01 0 days 1,736 sqft
    2024-01-01 0 days 1,744 sqft
    2024-02-01 0 days 1,797 sqft
    2024-03-01 0 days 1,810 sqft
    Shelbyville's median listing age (time on market) for 2024-03-01 was 0 days.

    Shelbyville's median square footage for active listings during the 2024-03-01 period was 1,810 sqft. One year prior, the average listing was 1,973 sqft.