Tucson USDA Loan Rates, Closing Costs & Stats

TUCSON, AZ

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.

Tucson's 13 lenders originated 24 USDA loans during 2023. The total origination value was $6,950,000, with an average USDA loan value of $289,583.

Tucson USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Tucson averaged 6.23% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Tucson's average USDA mortgage closing costs are $5,490.

The average rate for the prior week (2024-04-05) was 6.36% and one month ago for the week of 2024-03-08, the average rate was 6.32%.

The average rate one year ago was 6.03%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.54%.

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

Tucson 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 Tucson level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
CROSSCOUNTRY MORTGAGE, LLC 4 5.61% $12,915
V.I.P. MORTGAGE, INC. 3 6.21% $7,940
NOVA FINANCIAL & INVESTMENT CORPORATION 3 6.21% $5,249
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.33% $13,565
ALTITUDE FINANCIAL CORPORATION 2 6.06% $6,861
DHI MORTGAGE COMPANY, LTD. 2 5.44% $8,077
LOANDEPOT.COM, LLC 1 6.25% $18,126
MORIA DEVELOPMENT, INC. 1 6.13% $6,654
MOVEMENT MORTGAGE, LLC 1 5.88% $15,226
NEWREZ LLC 1 5.25% $14,638
GUARANTEED RATE, INC. 1 5.50% $12,359
Prosperity Home Mortgage, LLC 1 6.63% $6,340
Flagstar Bank, FSB 1 6.00% $9,661

The top Tucson USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 4 USDA loans originated. Their average total fees are $12,915, which is $4,975 higher than the next largest lender, V.I.P. MORTGAGE, INC..

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Tucson (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 $266,950 (7.0%) $381,596 (5.7%) 0.99 3,610
2018-02-01 $274,246 (7.0%) $388,338 (4.1%) 1.00 3,499
2018-03-01 $274,900 (4.1%) $388,216 (2.8%) 0.96 3,449
2018-04-01 $279,925 (5.9%) $394,203 (4.8%) 0.95 3,276
2018-05-01 $282,400 (8.7%) $397,709 (5.9%) 0.94 3,219
2018-06-01 $278,000 (5.5%) $391,960 (4.2%) 0.93 3,121
2018-07-01 $279,808 (8.5%) $385,922 (5.1%) 0.93 3,089
2018-08-01 $279,948 (9.8%) $384,745 (6.1%) 0.94 3,044
2018-09-01 $279,900 (9.2%) $384,625 (5.9%) 0.94 3,102
2018-10-01 $277,450 (7.0%) $383,700 (4.3%) 0.94 3,358
2018-11-01 $279,313 (6.7%) $382,574 (1.7%) 0.95 3,480
2018-12-01 $278,000 (6.9%) $388,460 (2.8%) 0.96 3,440
2019-01-01 $279,500 (4.7%) $394,391 (3.4%) 0.97 3,367
2019-02-01 $285,750 (4.2%) $403,772 (4.0%) 0.97 3,416
2019-03-01 $293,857 (6.9%) $416,220 (7.2%) 0.96 3,288
2019-04-01 $298,581 (6.7%) $421,878 (7.0%) 0.95 3,201
2019-05-01 $298,641 (5.8%) $422,167 (6.2%) 0.93 3,040
2019-06-01 $294,500 (5.9%) $413,490 (5.5%) 0.92 2,886
2019-07-01 $287,995 (2.9%) $406,364 (5.3%) 0.90 2,793
2019-08-01 $289,273 (3.3%) $412,402 (7.2%) 0.92 2,717
2019-09-01 $289,682 (3.5%) $417,264 (8.5%) 0.93 2,739
2019-10-01 $289,955 (4.5%) $419,182 (9.3%) 0.94 2,783
2019-11-01 $286,989 (2.8%) $415,873 (8.7%) 0.94 2,814
2019-12-01 $285,500 (2.7%) $413,647 (6.5%) 0.95 2,672
2020-01-01 $287,500 (2.9%) $414,853 (5.2%) 0.96 2,501
2020-02-01 $297,830 (4.2%) $429,226 (6.3%) 0.97 2,448
2020-03-01 $299,675 (2.0%) $431,529 (3.7%) 0.94 2,404
2020-04-01 $296,963 (-0.5%) $413,561 (-2.0%) 0.93 2,642
2020-05-01 $300,000 (0.5%) $425,640 (0.8%) 0.91 2,336
2020-06-01 $321,950 (9.3%) $456,526 (10.4%) 0.95 1,772
2020-07-01 $325,000 (12.9%) $453,254 (11.5%) 0.94 1,549
2020-08-01 $323,270 (11.8%) $459,454 (11.4%) 0.93 1,521
2020-09-01 $316,332 (9.2%) $465,601 (11.6%) 0.91 1,532
2020-10-01 $310,000 (6.9%) $459,550 (9.6%) 0.89 1,641
2020-11-01 $313,439 (9.2%) $470,630 (13.2%) 0.92 1,553
2020-12-01 $315,000 (10.3%) $472,568 (14.2%) 0.94 1,367
2021-01-01 $320,000 (11.3%) $494,616 (19.2%) 0.96 1,169
2021-02-01 $325,000 (9.1%) $515,150 (20.0%) 0.95 940
2021-03-01 $335,035 (11.8%) $527,183 (22.2%) 0.95 879
2021-04-01 $342,000 (15.2%) $528,171 (27.7%) 0.93 893
2021-05-01 $344,000 (14.7%) $520,700 (22.3%) 0.91 934
2021-06-01 $350,000 (8.7%) $520,919 (14.1%) 0.92 993
2021-07-01 $350,000 (7.7%) $489,786 (8.1%) 0.92 1,180
2021-08-01 $359,725 (11.3%) $483,535 (5.2%) 0.96 1,328
2021-09-01 $359,950 (13.8%) $484,218 (4.0%) 0.96 1,497
2021-10-01 $359,000 (15.8%) $479,305 (4.3%) 0.96 1,697
2021-11-01 $359,950 (14.8%) $483,323 (2.7%) 0.96 1,674
2021-12-01 $361,950 (14.9%) $480,444 (1.7%) 0.98 1,521
2022-01-01 $364,990 (14.1%) $500,987 (1.3%) 0.99 1,362
2022-02-01 $375,495 (15.5%) $538,244 (4.5%) 0.98 1,083
2022-03-01 $388,247 (15.9%) $562,017 (6.6%) 0.97 999
2022-04-01 $399,500 (16.8%) $566,315 (7.2%) 0.95 1,030
2022-05-01 $407,008 (18.3%) $580,535 (11.5%) 0.93 1,205
2022-06-01 $409,950 (17.1%) $567,549 (9.0%) 0.91 1,513
2022-07-01 $399,990 (14.3%) $540,818 (10.4%) 0.90 1,946
2022-08-01 $391,000 (8.7%) $519,170 (7.4%) 0.90 2,163
2022-09-01 $383,356 (6.5%) $507,188 (4.7%) 0.90 2,363
2022-10-01 $379,000 (5.6%) $505,419 (5.5%) 0.89 2,636
2022-11-01 $375,000 (4.2%) $510,223 (5.6%) 0.90 2,782
2022-12-01 $375,000 (3.6%) $508,106 (5.8%) 0.93 2,596
2023-01-01 $377,000 (3.3%) $524,574 (4.7%) 0.93 2,370
2023-02-01 $389,000 (3.6%) $547,620 (1.7%) 0.94 2,121
2023-03-01 $399,950 (3.0%) $565,451 (0.6%) 0.94 1,953
2023-04-01 $403,675 (1.1%) $582,574 (2.9%) 0.94 1,692
2023-05-01 $414,350 (1.8%) $595,129 (2.5%) 0.94 1,608
2023-06-01 $414,997 (1.2%) $588,646 (3.7%) 0.93 1,609
2023-07-01 $410,000 (2.5%) $583,215 (7.8%) 0.93 1,622
2023-08-01 $406,025 (3.8%) $575,012 (10.8%) 0.93 1,630
2023-09-01 $399,900 (4.3%) $570,632 (12.5%) 0.93 1,757
2023-10-01 $399,000 (5.3%) $552,351 (9.3%) 0.94 2,083
2023-11-01 $399,900 (6.6%) $555,334 (8.8%) 0.95 2,309
2023-12-01 $398,900 (6.4%) $548,714 (8.0%) 0.97 2,347
2024-01-01 $399,000 (5.8%) $556,034 (6.0%) 0.97 2,375
2024-02-01 $400,000 (2.8%) $570,948 (4.3%) 0.96 2,399
2024-03-01 $402,700 (0.7%) $568,129 (0.5%) 0.95 2,420
Tucson's median listing price for 2024-03-01 was $402,700, a difference of $2,750 (0.7%) versus the prior year and $2,700 versus the prior month.

Tucson's median listing price comes in at 95% of the national average.

Tucson's average listing price for 2024-03-01 was $568,129, a difference of $2,678 (0.5%) versus the prior year and $-2,819 versus the prior month.

For the 2024-03-01 period, Tucson had 2,420 MLS listings, a difference of 21 listings (1%) versus the prior month and 467 listings (24%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Tucson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 64 days 2,004 sqft
2018-02-01 51 days 2,030 sqft
2018-03-01 50 days 2,036 sqft
2018-04-01 50 days 2,050 sqft
2018-05-01 48 days 2,058 sqft
2018-06-01 50 days 2,013 sqft
2018-07-01 53 days 2,026 sqft
2018-08-01 54 days 2,019 sqft
2018-09-01 52 days 2,020 sqft
2018-10-01 50 days 1,987 sqft
2018-11-01 51 days 1,987 sqft
2018-12-01 58 days 1,962 sqft
2019-01-01 63 days 1,993 sqft
2019-02-01 48 days 2,030 sqft
2019-03-01 48 days 2,058 sqft
2019-04-01 51 days 2,062 sqft
2019-05-01 51 days 2,047 sqft
2019-06-01 51 days 2,049 sqft
2019-07-01 50 days 2,020 sqft
2019-08-01 50 days 2,027 sqft
2019-09-01 49 days 2,026 sqft
2019-10-01 49 days 2,024 sqft
2019-11-01 52 days 1,976 sqft
2019-12-01 60 days 1,960 sqft
2020-01-01 59 days 1,981 sqft
2020-02-01 44 days 1,996 sqft
2020-03-01 43 days 1,997 sqft
2020-04-01 44 days 1,958 sqft
2020-05-01 55 days 1,980 sqft
2020-06-01 57 days 2,010 sqft
2020-07-01 53 days 2,008 sqft
2020-08-01 51 days 1,986 sqft
2020-09-01 47 days 1,937 sqft
2020-10-01 48 days 1,905 sqft
2020-11-01 50 days 1,911 sqft
2020-12-01 55 days 1,905 sqft
2021-01-01 52 days 1,912 sqft
2021-02-01 40 days 1,907 sqft
2021-03-01 38 days 1,920 sqft
2021-04-01 35 days 1,872 sqft
2021-05-01 32 days 1,871 sqft
2021-06-01 32 days 1,880 sqft
2021-07-01 30 days 1,844 sqft
2021-08-01 30 days 1,854 sqft
2021-09-01 32 days 1,851 sqft
2021-10-01 33 days 1,845 sqft
2021-11-01 37 days 1,868 sqft
2021-12-01 44 days 1,862 sqft
2022-01-01 44 days 1,861 sqft
2022-02-01 37 days 1,868 sqft
2022-03-01 35 days 1,879 sqft
2022-04-01 32 days 1,883 sqft
2022-05-01 30 days 1,920 sqft
2022-06-01 30 days 1,914 sqft
2022-07-01 32 days 1,873 sqft
2022-08-01 37 days 1,839 sqft
2022-09-01 41 days 1,817 sqft
2022-10-01 44 days 1,812 sqft
2022-11-01 50 days 1,813 sqft
2022-12-01 60 days 1,812 sqft
2023-01-01 61 days 1,822 sqft
2023-02-01 52 days 1,837 sqft
2023-03-01 47 days 1,860 sqft
2023-04-01 47 days 1,904 sqft
2023-05-01 43 days 1,924 sqft
2023-06-01 43 days 1,959 sqft
2023-07-01 43 days 1,944 sqft
2023-08-01 41 days 1,918 sqft
2023-09-01 41 days 1,904 sqft
2023-10-01 39 days 1,868 sqft
2023-11-01 43 days 1,862 sqft
2023-12-01 51 days 1,852 sqft
2024-01-01 54 days 1,847 sqft
2024-02-01 44 days 1,852 sqft
2024-03-01 44 days 1,849 sqft
Tucson's median listing age (time on market) for 2024-03-01 was 44 days. This is -6% shorter than the same period one year ago.

Tucson's median square footage for active listings during the 2024-03-01 period was 1,849 sqft. One year prior, the average listing was 1,860 sqft.