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%.
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 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 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.