Tucson USDA Loans

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 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.