Tucson USDA Loans

TUCSON, AZ

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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.

    Tucson's 27 lenders originated 123 USDA loans during 2021. The total origination value was $28,755,000, with an average USDA loan value of $233,780.

    Tucson USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Tucson averaged 5.33% for the week of 2022-08-05, compared to the national average (all USDA variants) of 5.294% for the same period.

    The average rate for the prior week (2022-07-29) was 5.36% and one month ago for the week of 2022-07-01, the average rate was 5.69%.

    The average rate one year ago was 3.07%.

    For refis of the same type during the week of 2022-08-05, the average rate was 5.15%.

    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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Tucson level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    SUNSTREET MORTGAGE, LLC 19 2.80% $5,276
    NOVA FINANCIAL & INVESTMENT CORPORATION 17 2.93% $4,272
    DHI MORTGAGE COMPANY, LTD. 10 2.61% $6,098
    LOANDEPOT.COM, LLC 9 3.25% $7,124
    V.I.P. MORTGAGE, INC. 9 2.75% $4,828
    GUILD MORTGAGE COMPANY 8 3.03% $6,852
    Prosperity Home Mortgage, LLC 5 2.83% $5,574
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 2.97% $6,938
    KBHS HOME LOANS, LLC 4 2.72% $10,882
    GUARANTEED RATE, INC. 4 2.63% $6,642
    Lend Smart Mortgage, LLC 4 2.88% $7,898
    FINANCE OF AMERICA MORTGAGE LLC 3 2.92% $6,914
    Nations Lending Corporation 2 2.88% $7,664
    Colten Mortgage, LLC 2 3.19% $4,853
    PENNYMAC LOAN SERVICES, LLC 2 3.25% $6,750
    ALTITUDE FINANCIAL CORPORATION 2 2.94% $5,437
    PREMIER LENDING, INC. 1 3.13% $7,628
    CHURCHILL MORTGAGE CORPORATION 1 2.63% $6,075
    SUN AMERICAN MORTGAGE COMPANY 1 3.00% $5,109
    BROKER SOLUTIONS, INC. 1 3.38% $10,068
    Flagstar Bank, FSB 1 3.13% $7,628
    SUN WEST MORTGAGE COMPANY, INC. 1 2.50% $3,547
    GUARANTEED RATE AFFINITY, LLC 1 3.00% $7,636
    Alaska USA Federal Credit Union 1 2.75% $6,479
    CROSSCOUNTRY MORTGAGE, LLC 1 3.63% $4,276
    Loan Simple, Inc. 1 2.88% $6,927
    MOVEMENT MORTGAGE, LLC 1 3.25% $7,528

    The top Tucson USDA lender as defined by loan originations is SUNSTREET MORTGAGE, LLC, with 19 USDA loans originated. Their average total fees are $5,276, which is $1,004 higher than the next largest lender, NOVA FINANCIAL & INVESTMENT CORPORATION.

    The lowest fee Tucson USDA lenders (with over 10 loans originated) are NOVA FINANCIAL & INVESTMENT CORPORATION ($4,272), SUNSTREET MORTGAGE, LLC ($5,276), DHI MORTGAGE COMPANY, LTD. ($6,098), .

    The lowest rate Tucson USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (2.61%), SUNSTREET MORTGAGE, LLC (2.80%), NOVA FINANCIAL & INVESTMENT CORPORATION (2.93%), .

    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 $264,950 (9.5%) $379,210 (8.0%) 0.98 3,754
    2018-02-01 $269,950 (8.6%) $383,617 (5.9%) 0.97 3,650
    2018-03-01 $269,900 (6.3%) $382,603 (4.2%) 0.93 3,615
    2018-04-01 $275,750 (8.8%) $388,625 (6.2%) 0.93 3,432
    2018-05-01 $280,000 (11.1%) $396,063 (8.4%) 0.93 3,220
    2018-06-01 $275,619 (6.9%) $392,700 (6.8%) 0.92 3,110
    2018-07-01 $279,000 (11.6%) $386,850 (7.3%) 0.93 3,077
    2018-08-01 $279,900 (12.0%) $384,975 (7.7%) 0.94 3,028
    2018-09-01 $279,000 (9.8%) $385,569 (7.9%) 0.93 3,092
    2018-10-01 $276,500 (6.6%) $383,907 (5.0%) 0.92 3,352
    2018-11-01 $278,500 (7.1%) $383,237 (2.7%) 0.93 3,478
    2018-12-01 $277,000 (6.5%) $388,047 (3.4%) 0.95 3,432
    2019-01-01 $279,750 (5.6%) $394,842 (4.1%) 0.96 3,364
    2019-02-01 $285,000 (5.6%) $404,579 (5.5%) 0.95 3,423
    2019-03-01 $293,857 (8.9%) $418,735 (9.4%) 0.96 3,285
    2019-04-01 $298,923 (8.4%) $424,887 (9.3%) 0.94 3,176
    2019-05-01 $299,000 (6.8%) $425,930 (7.5%) 0.92 3,014
    2019-06-01 $295,000 (7.0%) $417,212 (6.2%) 0.91 2,871
    2019-07-01 $287,258 (3.0%) $409,587 (5.9%) 0.89 2,766
    2019-08-01 $290,283 (3.7%) $418,079 (8.6%) 0.91 2,595
    2019-09-01 $290,983 (4.3%) $421,737 (9.4%) 0.92 2,537
    2019-10-01 $294,950 (6.7%) $433,167 (12.8%) 0.94 2,756
    2019-11-01 $295,000 (5.9%) $433,542 (13.1%) 0.95 2,795
    2019-12-01 $289,950 (4.7%) $428,006 (10.3%) 0.97 2,665
    2020-01-01 $292,000 (4.4%) $426,266 (8.0%) 0.97 2,480
    2020-02-01 $299,000 (4.9%) $435,553 (7.7%) 0.96 2,418
    2020-03-01 $299,900 (2.1%) $437,415 (4.5%) 0.94 2,371
    2020-04-01 $297,450 (-0.5%) $420,269 (-1.1%) 0.93 2,623
    2020-05-01 $305,000 (2.0%) $436,629 (2.5%) 0.92 2,314
    2020-06-01 $327,500 (11.0%) $469,384 (12.5%) 0.96 1,748
    2020-07-01 $329,450 (14.7%) $467,998 (14.3%) 0.94 1,533
    2020-08-01 $335,000 (15.4%) $477,451 (14.2%) 0.96 1,492
    2020-09-01 $336,950 (15.8%) $510,831 (21.1%) 0.96 1,501
    2020-10-01 $329,000 (11.5%) $508,185 (17.3%) 0.94 1,599
    2020-11-01 $328,995 (11.5%) $511,914 (18.1%) 0.94 1,523
    2020-12-01 $324,528 (11.9%) $509,953 (19.2%) 0.95 1,337
    2021-01-01 $320,000 (9.6%) $509,640 (19.6%) 0.94 1,126
    2021-02-01 $329,835 (10.3%) $529,402 (21.6%) 0.95 902
    2021-03-01 $339,950 (13.4%) $538,482 (23.1%) 0.95 850
    2021-04-01 $347,000 (16.7%) $540,330 (28.6%) 0.93 855
    2021-05-01 $344,900 (13.1%) $529,762 (21.3%) 0.91 884
    2021-06-01 $350,000 (6.9%) $532,592 (13.5%) 0.91 958
    2021-07-01 $350,000 (6.2%) $501,690 (7.2%) 0.91 1,148
    2021-08-01 $359,450 (7.3%) $491,222 (2.9%) 0.94 1,294
    2021-09-01 $359,900 (6.8%) $498,495 (-2.4%) 0.95 1,451
    2021-10-01 $359,810 (9.4%) $493,196 (-3.0%) 0.95 1,661
    2021-11-01 $359,975 (9.4%) $499,282 (-2.5%) 0.95 1,642
    2021-12-01 $361,940 (11.5%) $495,425 (-2.9%) 0.97 1,502
    2022-01-01 $365,000 (14.1%) $519,187 (1.9%) 0.97 1,334
    2022-02-01 $379,450 (15.0%) $558,005 (5.4%) 0.97 1,060
    2022-03-01 $389,994 (14.7%) $581,295 (8.0%) 0.96 966
    2022-04-01 $399,900 (15.2%) $579,614 (7.3%) 0.94 995
    2022-05-01 $409,450 (18.7%) $595,109 (12.3%) 0.92 1,168
    2022-06-01 $411,955 (17.7%) $577,025 (8.3%) 0.92 1,489
    Tucson's median listing price for 2022-06-01 was $411,955, a difference of $61,955 (17.7%) versus the prior year and $2,505 versus the prior month.

    Tucson's median listing price comes in at 92% of the national average.

    Tucson's average listing price for 2022-06-01 was $577,025, a difference of $44,433 (8.3%) versus the prior year and $-18,084 versus the prior month.

    For the 2022-06-01 period, Tucson had 1,489 MLS listings, a difference of 321 listings (27%) versus the prior month and 531 listings (55%) 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 1,989 sqft
    2018-02-01 53 days 2,012 sqft
    2018-03-01 50 days 2,016 sqft
    2018-04-01 51 days 2,036 sqft
    2018-05-01 49 days 2,043 sqft
    2018-06-01 50 days 2,012 sqft
    2018-07-01 54 days 2,024 sqft
    2018-08-01 55 days 2,012 sqft
    2018-09-01 53 days 2,013 sqft
    2018-10-01 51 days 1,980 sqft
    2018-11-01 52 days 1,981 sqft
    2018-12-01 58 days 1,957 sqft
    2019-01-01 63 days 1,996 sqft
    2019-02-01 49 days 2,031 sqft
    2019-03-01 52 days 2,058 sqft
    2019-04-01 53 days 2,064 sqft
    2019-05-01 52 days 2,052 sqft
    2019-06-01 54 days 2,055 sqft
    2019-07-01 52 days 2,025 sqft
    2019-08-01 52 days 2,026 sqft
    2019-09-01 52 days 2,015 sqft
    2019-10-01 46 days 2,050 sqft
    2019-11-01 46 days 2,012 sqft
    2019-12-01 57 days 1,992 sqft
    2020-01-01 58 days 2,002 sqft
    2020-02-01 46 days 2,010 sqft
    2020-03-01 44 days 2,006 sqft
    2020-04-01 44 days 1,975 sqft
    2020-05-01 56 days 1,992 sqft
    2020-06-01 58 days 2,021 sqft
    2020-07-01 53 days 2,013 sqft
    2020-08-01 45 days 2,032 sqft
    2020-09-01 37 days 1,994 sqft
    2020-10-01 33 days 1,955 sqft
    2020-11-01 40 days 1,946 sqft
    2020-12-01 45 days 1,938 sqft
    2021-01-01 48 days 1,923 sqft
    2021-02-01 41 days 1,912 sqft
    2021-03-01 38 days 1,941 sqft
    2021-04-01 36 days 1,889 sqft
    2021-05-01 36 days 1,868 sqft
    2021-06-01 35 days 1,876 sqft
    2021-07-01 33 days 1,844 sqft
    2021-08-01 33 days 1,847 sqft
    2021-09-01 34 days 1,849 sqft
    2021-10-01 35 days 1,844 sqft
    2021-11-01 37 days 1,866 sqft
    2021-12-01 44 days 1,862 sqft
    2022-01-01 48 days 1,862 sqft
    2022-02-01 40 days 1,874 sqft
    2022-03-01 38 days 1,883 sqft
    2022-04-01 35 days 1,893 sqft
    2022-05-01 31 days 1,918 sqft
    2022-06-01 30 days 1,914 sqft
    Tucson's median listing age (time on market) for 2022-06-01 was 30 days. This is -14% shorter than the same period one year ago.

    Tucson's median square footage for active listings during the 2022-06-01 period was 1,914 sqft. One year prior, the average listing was 1,876 sqft.