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 15 lenders originated 55 USDA loans during 2022. The total origination value was $15,585,000, with an average USDA loan value of $283,364.

Tucson USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Tucson averaged 6.17% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

Tucson's average USDA mortgage closing costs are $5,300.

The average rate for the prior week (2023-05-19) was 6.12% and one month ago for the week of 2023-04-21, the average rate was 6.12%.

The average rate one year ago was 4.74%.

For refis of the same type during the week of 2023-05-26, the average rate was 4.96%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
NOVA FINANCIAL & INVESTMENT CORPORATION 20 4.95% $5,605
ALTITUDE FINANCIAL CORPORATION 6 4.88% $6,429
DHI MORTGAGE COMPANY, LTD. 4 4.19% $8,227
GUILD MORTGAGE COMPANY 3 4.67% $11,064
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 4.62% $8,125
KBHS HOME LOANS, LLC 2 3.56% $11,215
CROSSCOUNTRY MORTGAGE, LLC 2 5.25% $8,913
MOVEMENT MORTGAGE, LLC 2 4.38% $9,745
Prosperity Home Mortgage, LLC 2 3.81% $7,124
SUNSTREET MORTGAGE, LLC 2 5.06% $8,111
UNITED WHOLESALE MORTGAGE, LLC 2 4.58% $10,361
GUARANTEED RATE, INC. 1 3.63% $8,716
V.I.P. MORTGAGE, INC. 1 4.63% $8,053
Nations Lending Corporation 1 3.00% $3,835
CALCON MUTUAL MORTGAGE LLC 1 4.25% $7,476

The top Tucson USDA lender as defined by loan originations is NOVA FINANCIAL & INVESTMENT CORPORATION, with 20 USDA loans originated. Their average total fees are $5,605, which is $824 lower than the next largest lender, ALTITUDE FINANCIAL CORPORATION.

The lowest fee Tucson USDA lenders (with over 10 loans originated) are NOVA FINANCIAL & INVESTMENT CORPORATION ($5,605), .

The lowest rate Tucson USDA lenders (with over 10 loans originated) are NOVA FINANCIAL & INVESTMENT CORPORATION (4.95%), .


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 $266,975 (7.0%) $381,569 (5.7%) 0.99 3,611
2018-02-01 $274,250 (6.7%) $388,308 (4.1%) 1.00 3,500
2018-03-01 $274,900 (4.0%) $388,186 (2.8%) 0.96 3,450
2018-04-01 $279,913 (5.9%) $394,170 (4.8%) 0.95 3,277
2018-05-01 $282,400 (8.6%) $397,676 (5.9%) 0.94 3,220
2018-06-01 $278,000 (5.4%) $391,960 (4.3%) 0.93 3,121
2018-07-01 $279,715 (8.2%) $385,827 (5.1%) 0.93 3,090
2018-08-01 $279,948 (9.8%) $384,650 (6.1%) 0.94 3,045
2018-09-01 $279,900 (9.2%) $384,625 (5.9%) 0.94 3,102
2018-10-01 $277,450 (6.9%) $383,547 (4.2%) 0.94 3,359
2018-11-01 $279,250 (6.6%) $382,526 (1.7%) 0.95 3,481
2018-12-01 $278,000 (6.9%) $388,378 (2.8%) 0.96 3,441
2019-01-01 $279,500 (4.7%) $394,249 (3.3%) 0.97 3,368
2019-02-01 $285,325 (4.0%) $403,646 (4.0%) 0.96 3,418
2019-03-01 $295,160 (7.4%) $418,630 (7.8%) 0.98 3,218
2019-04-01 $299,325 (6.9%) $423,162 (7.4%) 0.95 3,187
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 $287,972 (3.0%) $406,323 (5.3%) 0.90 2,794
2019-08-01 $297,808 (6.4%) $426,223 (10.8%) 0.93 2,648
2019-09-01 $300,000 (7.2%) $441,757 (14.9%) 0.95 2,307
2019-10-01 $289,950 (4.5%) $417,674 (8.9%) 0.94 2,783
2019-11-01 $286,195 (2.5%) $415,568 (8.6%) 0.94 2,812
2019-12-01 $285,495 (2.7%) $413,656 (6.5%) 0.95 2,671
2020-01-01 $287,500 (2.9%) $414,851 (5.2%) 0.96 2,501
2020-02-01 $297,830 (4.4%) $429,226 (6.3%) 0.98 2,448
2020-03-01 $299,675 (1.5%) $431,529 (3.1%) 0.94 2,404
2020-04-01 $296,950 (-0.8%) $413,270 (-2.3%) 0.93 2,642
2020-05-01 $300,000 (0.5%) $425,471 (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 (11.6%) 0.94 1,549
2020-08-01 $323,270 (8.6%) $459,442 (7.8%) 0.93 1,521
2020-09-01 $316,289 (5.4%) $465,485 (5.4%) 0.91 1,532
2020-10-01 $310,000 (6.9%) $459,550 (10.0%) 0.89 1,641
2020-11-01 $313,439 (9.5%) $470,630 (13.3%) 0.92 1,553
2020-12-01 $315,000 (10.3%) $472,523 (14.2%) 0.94 1,367
2021-01-01 $319,900 (11.3%) $494,616 (19.2%) 0.95 1,169
2021-02-01 $325,000 (9.1%) $514,418 (19.9%) 0.94 940
2021-03-01 $335,000 (11.8%) $527,242 (22.2%) 0.95 878
2021-04-01 $342,000 (15.2%) $528,417 (27.9%) 0.93 893
2021-05-01 $344,000 (14.7%) $520,864 (22.4%) 0.91 933
2021-06-01 $350,000 (8.7%) $521,078 (14.1%) 0.92 992
2021-07-01 $350,000 (7.7%) $489,729 (8.1%) 0.92 1,181
2021-08-01 $359,950 (11.4%) $483,447 (5.2%) 0.96 1,328
2021-09-01 $359,950 (13.8%) $484,274 (4.0%) 0.96 1,497
2021-10-01 $359,250 (15.9%) $479,412 (4.3%) 0.96 1,697
2021-11-01 $359,975 (14.9%) $483,352 (2.7%) 0.96 1,674
2021-12-01 $361,950 (14.9%) $480,605 (1.7%) 0.98 1,521
2022-01-01 $365,000 (14.1%) $501,017 (1.3%) 0.99 1,362
2022-02-01 $375,000 (15.4%) $538,319 (4.7%) 0.98 1,083
2022-03-01 $388,000 (15.8%) $561,418 (6.5%) 0.97 997
2022-04-01 $399,500 (16.8%) $565,741 (7.1%) 0.95 1,029
2022-05-01 $407,000 (18.3%) $581,067 (11.6%) 0.93 1,204
2022-06-01 $410,450 (17.3%) $569,044 (9.2%) 0.91 1,513
2022-07-01 $399,900 (14.3%) $542,000 (10.7%) 0.90 1,946
2022-08-01 $390,000 (8.4%) $518,981 (7.4%) 0.90 2,163
2022-09-01 $384,123 (6.7%) $507,598 (4.8%) 0.90 2,362
2022-10-01 $379,000 (5.5%) $504,716 (5.3%) 0.89 2,637
2022-11-01 $375,000 (4.2%) $510,229 (5.6%) 0.90 2,782
2022-12-01 $375,000 (3.6%) $508,108 (5.7%) 0.93 2,596
2023-01-01 $377,000 (3.3%) $524,782 (4.7%) 0.93 2,370
2023-02-01 $387,000 (3.2%) $547,828 (1.8%) 0.93 2,121
2023-03-01 $399,950 (3.1%) $565,222 (0.7%) 0.94 1,953
2023-04-01 $400,000 (0.1%) $583,157 (3.1%) 0.93 1,692
Tucson's median listing price for 2023-04-01 was $400,000, a difference of $500 (0.1%) versus the prior year and $50 versus the prior month.

Tucson's median listing price comes in at 93% of the national average.

Tucson's average listing price for 2023-04-01 was $583,157, a difference of $17,416 (3.1%) versus the prior year and $17,935 versus the prior month.

For the 2023-04-01 period, Tucson had 1,692 MLS listings, a difference of -261 listings (-13%) versus the prior month and 663 listings (64%) 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 65 days 2,004 sqft
2018-02-01 54 days 2,030 sqft
2018-03-01 51 days 2,036 sqft
2018-04-01 52 days 2,051 sqft
2018-05-01 50 days 2,058 sqft
2018-06-01 51 days 2,013 sqft
2018-07-01 54 days 2,026 sqft
2018-08-01 56 days 2,019 sqft
2018-09-01 54 days 2,020 sqft
2018-10-01 51 days 1,987 sqft
2018-11-01 52 days 1,986 sqft
2018-12-01 59 days 1,960 sqft
2019-01-01 64 days 1,993 sqft
2019-02-01 50 days 2,029 sqft
2019-03-01 52 days 2,055 sqft
2019-04-01 53 days 2,063 sqft
2019-05-01 52 days 2,047 sqft
2019-06-01 53 days 2,049 sqft
2019-07-01 51 days 2,020 sqft
2019-08-01 59 days 2,070 sqft
2019-09-01 62 days 2,080 sqft
2019-10-01 51 days 2,023 sqft
2019-11-01 54 days 1,976 sqft
2019-12-01 62 days 1,960 sqft
2020-01-01 61 days 1,981 sqft
2020-02-01 45 days 1,996 sqft
2020-03-01 44 days 1,997 sqft
2020-04-01 45 days 1,958 sqft
2020-05-01 57 days 1,979 sqft
2020-06-01 60 days 2,010 sqft
2020-07-01 55 days 2,008 sqft
2020-08-01 53 days 1,986 sqft
2020-09-01 51 days 1,937 sqft
2020-10-01 50 days 1,905 sqft
2020-11-01 51 days 1,911 sqft
2020-12-01 56 days 1,905 sqft
2021-01-01 53 days 1,912 sqft
2021-02-01 43 days 1,903 sqft
2021-03-01 39 days 1,921 sqft
2021-04-01 36 days 1,873 sqft
2021-05-01 33 days 1,870 sqft
2021-06-01 33 days 1,880 sqft
2021-07-01 31 days 1,844 sqft
2021-08-01 31 days 1,854 sqft
2021-09-01 33 days 1,851 sqft
2021-10-01 33 days 1,843 sqft
2021-11-01 37 days 1,868 sqft
2021-12-01 44 days 1,862 sqft
2022-01-01 45 days 1,861 sqft
2022-02-01 38 days 1,866 sqft
2022-03-01 36 days 1,878 sqft
2022-04-01 32 days 1,881 sqft
2022-05-01 30 days 1,913 sqft
2022-06-01 30 days 1,910 sqft
2022-07-01 32 days 1,873 sqft
2022-08-01 37 days 1,834 sqft
2022-09-01 42 days 1,816 sqft
2022-10-01 45 days 1,812 sqft
2022-11-01 50 days 1,812 sqft
2022-12-01 60 days 1,810 sqft
2023-01-01 62 days 1,814 sqft
2023-02-01 54 days 1,834 sqft
2023-03-01 48 days 1,859 sqft
2023-04-01 48 days 1,901 sqft
Tucson's median listing age (time on market) for 2023-04-01 was 48 days. This is 50% longer than the same period one year ago.

Tucson's median square footage for active listings during the 2023-04-01 period was 1,901 sqft. One year prior, the average listing was 1,881 sqft.