Sherman USDA Loan Rates, Closing Costs & Stats

SHERMAN-DENISON, TX

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.

Sherman's 26 lenders originated 37 USDA loans during 2021. The total origination value was $7,875,000, with an average USDA loan value of $212,838.

Sherman USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Sherman averaged 6.79% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Sherman's average USDA mortgage closing costs are $6,056.

The average rate for the prior week (2022-11-25) was 6.63% and one month ago for the week of 2022-10-28, the average rate was 7%.

The average rate one year ago was 3.69%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.49%.

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

Sherman 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 Sherman level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
NTFN, INC. 3 2.63% $6,759
ACADEMY MORTGAGE CORPORATION 2 3.25% $7,871
CALIBER HOME LOANS, INC. 2 2.56% $7,839
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 2.88% $7,305
CROSSCOUNTRY MORTGAGE, LLC 2 3.44% $5,956
GUILD MORTGAGE COMPANY 2 3.00% $6,528
HOME POINT FINANCIAL CORPORATION 2 2.50% $7,829
Town Square Mortgage & Investments, Inc. 2 2.94% $5,090
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.25% $6,694
First Bank 1 3.25% $6,561
First Guaranty Mortgage Corporation 1 3.25% $10,395
First United Bank and Trust Company 1 3.13% $5,643
Gateway First Bank 1 3.00% $7,240
WILLOW BEND MORTGAGE COMPANY, LLC 1 2.75% $7,142
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 3.25% $7,749
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.75% $11,903
Trinity Oaks Mortgage, LLC 1 3.25% $7,171
Independent Bank 1 3.25% $6,527
AMCAP MORTGAGE, LTD. 1 2.75% $9,942
PENNYMAC LOAN SERVICES, LLC 1 2.50% $5,810
BancorpSouth Bank 1 3.38% $5,401
RELIANCE FIRST CAPITAL, LLC 1 3.13% $3,381
Republic State Mortgage Co. 1 2.75% $7,071
CELEBRITY HOME LOANS, LLC 1 3.38% $6,113
S1L, Inc. 1 2.99% $6,063
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.25% $8,083

The top Sherman USDA lender as defined by loan originations is NTFN, INC., with 3 USDA loans originated. Their average total fees are $6,759, which is $1,112 lower than the next largest lender, ACADEMY MORTGAGE CORPORATION.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Sherman (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 $246,495 (13.6%) $333,635 (11.0%) 0.00 433
2018-02-01 $261,750 (20.5%) $344,496 (12.9%) 0.00 387
2018-03-01 $266,750 (18.6%) $347,506 (14.0%) 0.00 388
2018-04-01 $269,576 (19.3%) $349,610 (14.6%) 0.00 393
2018-05-01 $269,451 (13.3%) $353,354 (13.4%) 0.00 437
2018-06-01 $259,900 (9.2%) $353,176 (13.8%) 0.00 472
2018-07-01 $249,950 (12.8%) $336,814 (13.3%) 0.00 524
2018-08-01 $249,900 (10.6%) $338,619 (11.7%) 0.00 557
2018-09-01 $245,000 (8.2%) $340,851 (10.0%) 0.00 565
2018-10-01 $245,200 (4.7%) $335,957 (5.1%) 0.00 591
2018-11-01 $247,000 (8.6%) $338,556 (5.0%) 0.00 590
2018-12-01 $239,995 (7.3%) $331,029 (4.5%) 0.00 573
2019-01-01 $241,223 (-2.1%) $334,320 (0.2%) 0.00 508
2019-02-01 $238,175 (-9.0%) $324,568 (-5.8%) 0.00 527
2019-03-01 $243,286 (-8.8%) $328,656 (-5.4%) 0.00 529
2019-04-01 $246,161 (-8.7%) $332,373 (-4.9%) 0.00 539
2019-05-01 $248,980 (-7.6%) $331,393 (-6.2%) 0.00 566
2019-06-01 $245,000 (-5.7%) $320,657 (-9.2%) 0.00 605
2019-07-01 $249,950 (0.0%) $330,700 (-1.8%) 0.00 640
2019-08-01 $246,545 (-1.3%) $328,020 (-3.1%) 0.00 657
2019-09-01 $242,864 (-0.9%) $326,770 (-4.1%) 0.00 653
2019-10-01 $242,909 (-0.9%) $327,119 (-2.6%) 0.00 640
2019-11-01 $248,450 (0.6%) $330,599 (-2.4%) 0.00 598
2019-12-01 $243,950 (1.7%) $333,344 (0.7%) 0.00 546
2020-01-01 $247,900 (2.8%) $333,561 (-0.2%) 0.00 514
2020-02-01 $249,900 (4.9%) $333,435 (2.7%) 0.00 497
2020-03-01 $236,450 (-2.8%) $329,251 (0.2%) 0.00 593
2020-04-01 $239,000 (-2.9%) $333,266 (0.3%) 0.00 583
2020-05-01 $244,000 (-2.0%) $343,358 (3.6%) 0.00 544
2020-06-01 $240,950 (-1.7%) $332,063 (3.6%) 0.00 519
2020-07-01 $239,450 (-4.2%) $338,083 (2.2%) 0.00 466
2020-08-01 $249,700 (1.3%) $342,510 (4.4%) 0.00 429
2020-09-01 $254,600 (4.8%) $346,774 (6.1%) 0.00 402
2020-10-01 $262,910 (8.2%) $351,722 (7.5%) 0.00 393
2020-11-01 $269,050 (8.3%) $361,950 (9.5%) 0.00 369
2020-12-01 $265,356 (8.8%) $367,910 (10.4%) 0.00 324
2021-01-01 $282,450 (13.9%) $389,663 (16.8%) 0.00 244
2021-02-01 $279,537 (11.9%) $383,163 (14.9%) 0.00 198
2021-03-01 $275,625 (16.6%) $424,373 (28.9%) 0.00 161
2021-04-01 $276,675 (15.8%) $436,539 (31.0%) 0.00 155
2021-05-01 $292,450 (19.9%) $440,359 (28.3%) 0.00 179
2021-06-01 $310,194 (28.7%) $453,554 (36.6%) 0.00 194
2021-07-01 $329,000 (37.4%) $453,280 (34.1%) 0.00 260
2021-08-01 $330,000 (32.2%) $464,514 (35.6%) 0.00 291
2021-09-01 $328,771 (29.1%) $420,825 (21.4%) 0.00 308
2021-10-01 $352,735 (34.2%) $441,104 (25.4%) 0.00 277
2021-11-01 $356,797 (32.6%) $431,287 (19.2%) 0.00 250
2021-12-01 $349,950 (31.9%) $422,698 (14.9%) 0.00 231
2022-01-01 $355,800 (26.0%) $428,907 (10.1%) 0.00 189
2022-02-01 $345,600 (23.6%) $441,757 (15.3%) 0.00 175
2022-03-01 $352,450 (27.9%) $442,980 (4.4%) 0.00 174
2022-04-01 $349,500 (26.3%) $476,901 (9.3%) 0.00 203
2022-05-01 $373,686 (27.8%) $500,727 (13.7%) 0.00 289
2022-06-01 $367,870 (18.6%) $495,925 (9.3%) 0.00 356
2022-07-01 $389,000 (18.2%) $499,097 (10.1%) 0.00 462
2022-08-01 $375,000 (13.6%) $497,603 (7.1%) 0.00 496
2022-09-01 $369,000 (12.2%) $482,996 (14.8%) 0.00 524
2022-10-01 $365,000 (3.5%) $483,478 (9.6%) 0.00 581
2022-11-01 $359,320 (0.7%) $466,072 (8.1%) 0.00 620
Sherman's median listing price for 2022-11-01 was $359,320, a difference of $2,523 (0.7%) versus the prior year and $-5,680 versus the prior month.

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

Sherman's average listing price for 2022-11-01 was $466,072, a difference of $34,785 (8.1%) versus the prior year and $-17,406 versus the prior month.

For the 2022-11-01 period, Sherman had 620 MLS listings, a difference of 39 listings (7%) versus the prior month and 370 listings (148%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Sherman (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,103 sqft
2018-02-01 0 days 2,132 sqft
2018-03-01 0 days 2,140 sqft
2018-04-01 0 days 2,134 sqft
2018-05-01 0 days 2,124 sqft
2018-06-01 0 days 2,107 sqft
2018-07-01 0 days 2,076 sqft
2018-08-01 0 days 2,086 sqft
2018-09-01 0 days 2,061 sqft
2018-10-01 0 days 2,041 sqft
2018-11-01 0 days 2,030 sqft
2018-12-01 0 days 2,004 sqft
2019-01-01 0 days 2,001 sqft
2019-02-01 0 days 1,963 sqft
2019-03-01 0 days 1,973 sqft
2019-04-01 0 days 2,007 sqft
2019-05-01 0 days 2,021 sqft
2019-06-01 0 days 2,000 sqft
2019-07-01 0 days 2,000 sqft
2019-08-01 0 days 1,971 sqft
2019-09-01 0 days 1,968 sqft
2019-10-01 0 days 1,980 sqft
2019-11-01 0 days 1,994 sqft
2019-12-01 0 days 1,987 sqft
2020-01-01 0 days 1,977 sqft
2020-02-01 0 days 1,960 sqft
2020-03-01 0 days 1,924 sqft
2020-04-01 0 days 1,900 sqft
2020-05-01 0 days 1,904 sqft
2020-06-01 0 days 1,911 sqft
2020-07-01 0 days 1,897 sqft
2020-08-01 0 days 1,901 sqft
2020-09-01 0 days 1,929 sqft
2020-10-01 0 days 1,992 sqft
2020-11-01 0 days 2,024 sqft
2020-12-01 0 days 1,984 sqft
2021-01-01 0 days 2,007 sqft
2021-02-01 0 days 2,034 sqft
2021-03-01 0 days 1,946 sqft
2021-04-01 0 days 1,879 sqft
2021-05-01 0 days 1,893 sqft
2021-06-01 0 days 1,963 sqft
2021-07-01 0 days 2,010 sqft
2021-08-01 0 days 2,022 sqft
2021-09-01 0 days 2,004 sqft
2021-10-01 0 days 2,054 sqft
2021-11-01 0 days 2,034 sqft
2021-12-01 0 days 2,003 sqft
2022-01-01 0 days 1,907 sqft
2022-02-01 0 days 1,833 sqft
2022-03-01 0 days 1,841 sqft
2022-04-01 0 days 1,846 sqft
2022-05-01 0 days 1,913 sqft
2022-06-01 0 days 1,863 sqft
2022-07-01 0 days 1,977 sqft
2022-08-01 0 days 1,965 sqft
2022-09-01 0 days 1,919 sqft
2022-10-01 0 days 1,931 sqft
2022-11-01 0 days 1,911 sqft
Sherman's median listing age (time on market) for 2022-11-01 was 0 days.

Sherman's median square footage for active listings during the 2022-11-01 period was 1,911 sqft. One year prior, the average listing was 2,034 sqft.