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 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 6.03% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

Tucson's average USDA mortgage closing costs are $5,107.

The average rate for the prior week (2023-01-20) was 6.22% and one month ago for the week of 2022-12-23, the average rate was 6.15%.

The average rate one year ago was 3.8%.

For refis of the same type during the week of 2023-01-27, the average rate was 5.75%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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 $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%) 0.96 3,368
2019-02-01 $285,325 (4.0%) $403,646 (4.0%) 0.96 3,418
2019-03-01 $293,857 (6.9%) $416,194 (7.2%) 0.96 3,289
2019-04-01 $298,500 (6.6%) $422,001 (7.1%) 0.95 3,203
2019-05-01 $298,641 (5.8%) $422,118 (6.2%) 0.93 3,044
2019-06-01 $294,500 (5.9%) $413,341 (5.5%) 0.92 2,890
2019-07-01 $287,950 (2.9%) $406,184 (5.3%) 0.90 2,798
2019-08-01 $289,273 (3.3%) $412,223 (7.2%) 0.92 2,721
2019-09-01 $289,682 (3.5%) $417,033 (8.4%) 0.93 2,744
2019-10-01 $289,955 (4.5%) $418,888 (9.2%) 0.94 2,788
2019-11-01 $286,000 (2.4%) $415,243 (8.6%) 0.94 2,817
2019-12-01 $285,149 (2.6%) $413,325 (6.4%) 0.95 2,676
2020-01-01 $287,500 (2.9%) $414,487 (5.1%) 0.96 2,506
2020-02-01 $297,600 (4.3%) $428,824 (6.2%) 0.97 2,453
2020-03-01 $299,498 (1.9%) $431,128 (3.6%) 0.94 2,409
2020-04-01 $296,950 (-0.5%) $412,932 (-2.2%) 0.93 2,647
2020-05-01 $300,000 (0.5%) $425,062 (0.7%) 0.91 2,341
2020-06-01 $321,809 (9.3%) $455,939 (10.3%) 0.95 1,777
2020-07-01 $325,000 (12.9%) $452,643 (11.4%) 0.94 1,554
2020-08-01 $321,085 (11.0%) $457,872 (11.1%) 0.92 1,525
2020-09-01 $315,748 (9.0%) $463,896 (11.2%) 0.90 1,536
2020-10-01 $310,000 (6.9%) $458,095 (9.4%) 0.89 1,645
2020-11-01 $312,617 (9.3%) $469,047 (13.0%) 0.91 1,557
2020-12-01 $314,955 (10.5%) $470,868 (13.9%) 0.94 1,371
2021-01-01 $319,500 (11.1%) $492,570 (18.8%) 0.95 1,173
2021-02-01 $325,000 (9.2%) $512,011 (19.4%) 0.94 944
2021-03-01 $334,700 (11.8%) $524,656 (21.7%) 0.95 882
2021-04-01 $341,238 (14.9%) $525,842 (27.3%) 0.92 897
2021-05-01 $340,000 (13.3%) $518,464 (22.0%) 0.90 937
2021-06-01 $350,000 (8.8%) $518,746 (13.8%) 0.92 996
2021-07-01 $350,000 (7.7%) $487,528 (7.7%) 0.92 1,184
2021-08-01 $359,500 (12.0%) $481,492 (5.2%) 0.96 1,331
2021-09-01 $359,950 (14.0%) $482,552 (4.0%) 0.96 1,500
2021-10-01 $359,000 (15.8%) $477,895 (4.3%) 0.96 1,700
2021-11-01 $359,925 (15.1%) $481,864 (2.7%) 0.96 1,676
2021-12-01 $360,965 (14.6%) $478,960 (1.7%) 0.98 1,524
2022-01-01 $364,900 (14.2%) $499,152 (1.3%) 0.99 1,366
2022-02-01 $375,000 (15.4%) $536,239 (4.7%) 0.98 1,086
2022-03-01 $387,810 (15.9%) $559,082 (6.6%) 0.97 1,001
2022-04-01 $399,250 (17.0%) $564,543 (7.4%) 0.95 1,034
2022-05-01 $406,223 (19.5%) $579,904 (11.9%) 0.93 1,209
2022-06-01 $410,178 (17.2%) $568,103 (9.5%) 0.91 1,517
2022-07-01 $399,900 (14.3%) $541,091 (11.0%) 0.90 1,950
2022-08-01 $390,000 (8.5%) $518,118 (7.6%) 0.90 2,167
2022-09-01 $382,594 (6.3%) $506,821 (5.0%) 0.90 2,366
2022-10-01 $379,000 (5.6%) $503,982 (5.5%) 0.89 2,641
2022-11-01 $375,000 (4.2%) $509,524 (5.7%) 0.90 2,786
2022-12-01 $374,900 (3.9%) $507,165 (5.9%) 0.94 2,602
Tucson's median listing price for 2022-12-01 was $374,900, a difference of $13,935 (3.9%) versus the prior year and $-100 versus the prior month.

Tucson's median listing price comes in at 94% of the national average.

Tucson's average listing price for 2022-12-01 was $507,165, a difference of $28,205 (5.9%) versus the prior year and $-2,359 versus the prior month.

For the 2022-12-01 period, Tucson had 2,602 MLS listings, a difference of -184 listings (-7%) versus the prior month and 1,078 listings (71%) 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 2,052 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 1,987 sqft
2018-12-01 59 days 1,962 sqft
2019-01-01 64 days 1,993 sqft
2019-02-01 50 days 2,029 sqft
2019-03-01 49 days 2,058 sqft
2019-04-01 53 days 2,063 sqft
2019-05-01 52 days 2,048 sqft
2019-06-01 53 days 2,050 sqft
2019-07-01 52 days 2,020 sqft
2019-08-01 51 days 2,026 sqft
2019-09-01 51 days 2,025 sqft
2019-10-01 51 days 2,024 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 1,994 sqft
2020-03-01 44 days 1,997 sqft
2020-04-01 45 days 1,958 sqft
2020-05-01 57 days 1,977 sqft
2020-06-01 60 days 2,009 sqft
2020-07-01 55 days 2,008 sqft
2020-08-01 53 days 1,982 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 1,920 sqft
2021-04-01 36 days 1,873 sqft
2021-05-01 34 days 1,870 sqft
2021-06-01 34 days 1,879 sqft
2021-07-01 31 days 1,844 sqft
2021-08-01 31 days 1,852 sqft
2021-09-01 33 days 1,851 sqft
2021-10-01 34 days 1,842 sqft
2021-11-01 37 days 1,867 sqft
2021-12-01 44 days 1,862 sqft
2022-01-01 45 days 1,860 sqft
2022-02-01 38 days 1,865 sqft
2022-03-01 36 days 1,877 sqft
2022-04-01 32 days 1,881 sqft
2022-05-01 30 days 1,912 sqft
2022-06-01 30 days 1,909 sqft
2022-07-01 32 days 1,872 sqft
2022-08-01 37 days 1,833 sqft
2022-09-01 42 days 1,816 sqft
2022-10-01 45 days 1,810 sqft
2022-11-01 50 days 1,812 sqft
2022-12-01 60 days 1,809 sqft
Tucson's median listing age (time on market) for 2022-12-01 was 60 days. This is 36% longer than the same period one year ago.

Tucson's median square footage for active listings during the 2022-12-01 period was 1,809 sqft. One year prior, the average listing was 1,862 sqft.