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 6.74% for the week of 2023-12-01, compared to the national average (all USDA variants) of 6.997% for the same period.

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

The average rate for the prior week (2023-11-24) was 6.65% and one month ago for the week of 2023-10-27, the average rate was 7%.

The average rate one year ago was 6.02%.

For refis of the same type during the week of 2023-12-01, the average rate was 5.33%.

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%), .