Waco USDA Loan Rates, Closing Costs & Stats

WACO, TX

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.

Waco's 12 lenders originated 19 USDA loans during 2023. The total origination value was $3,895,000, with an average USDA loan value of $205,000.

Waco USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Waco averaged 6.44% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Waco's average USDA mortgage closing costs are $5,499.

The average rate for the prior week (2024-04-05) was 6.66% and one month ago for the week of 2024-03-08, the average rate was 6.42%.

The average rate one year ago was 6.23%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.72%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Waco 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 Waco level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
NEWREZ LLC 4 7.16% $7,793
GUILD MORTGAGE COMPANY 2 6.81% $8,488
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.88% $3,590
UNITED WHOLESALE MORTGAGE, LLC 2 7.01% $8,384
NATIONS RELIABLE LENDING, LLC 1 6.13% $9,609
T2 FINANCIAL LLC 1 6.25% $3,147
THRIVE MORTGAGE, LLC 1 6.38% $9,176
CARDINAL FINANCIAL 1 7.75% $8,097
Wallick & Volk, Inc. 1 6.00% $3,487
City Bank 1 6.13% $6,920
DHI MORTGAGE COMPANY, LTD. 1 5.50% $7,071
Gateway First Bank 1 6.75% $4,005

The top Waco USDA lender as defined by loan originations is NEWREZ LLC, with 4 USDA loans originated. Their average total fees are $7,793, which is $695 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Waco USDA lenders (with over 10 loans originated) are .

The lowest rate Waco USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Waco (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 $205,475 (14.2%) $261,888 (1.4%) 0.76 640
2018-02-01 $206,450 (15.1%) $263,018 (1.4%) 0.75 655
2018-03-01 $212,250 (9.1%) $274,832 (3.4%) 0.74 651
2018-04-01 $220,945 (13.3%) $288,865 (12.0%) 0.75 654
2018-05-01 $223,495 (6.9%) $290,318 (7.3%) 0.75 658
2018-06-01 $226,839 (8.1%) $288,820 (3.5%) 0.76 723
2018-07-01 $209,900 (-0.1%) $277,612 (-2.2%) 0.70 800
2018-08-01 $207,563 (-1.1%) $275,907 (0.1%) 0.70 817
2018-09-01 $212,500 (2.6%) $280,769 (4.1%) 0.71 811
2018-10-01 $202,500 (-1.4%) $279,238 (6.0%) 0.69 842
2018-11-01 $200,000 (0.0%) $277,776 (8.8%) 0.68 832
2018-12-01 $200,000 (0.1%) $274,080 (7.2%) 0.69 789
2019-01-01 $202,500 (-1.5%) $269,268 (2.8%) 0.70 747
2019-02-01 $214,885 (4.1%) $269,531 (2.5%) 0.73 746
2019-03-01 $223,043 (5.1%) $277,801 (1.1%) 0.73 725
2019-04-01 $230,950 (4.5%) $286,014 (-1.0%) 0.73 691
2019-05-01 $232,750 (4.1%) $289,214 (-0.4%) 0.73 693
2019-06-01 $229,900 (1.4%) $286,919 (-0.7%) 0.72 723
2019-07-01 $233,625 (11.3%) $292,295 (5.3%) 0.73 784
2019-08-01 $230,245 (10.9%) $287,954 (4.4%) 0.73 779
2019-09-01 $227,239 (6.9%) $279,828 (-0.3%) 0.73 757
2019-10-01 $222,450 (9.9%) $273,749 (-2.0%) 0.72 748
2019-11-01 $225,000 (12.5%) $277,674 (0.0%) 0.74 717
2019-12-01 $223,995 (12.0%) $275,431 (0.5%) 0.75 686
2020-01-01 $220,000 (8.6%) $266,037 (-1.2%) 0.74 651
2020-02-01 $224,900 (4.7%) $269,905 (0.1%) 0.74 678
2020-03-01 $229,225 (2.8%) $271,285 (-2.4%) 0.72 667
2020-04-01 $233,675 (1.2%) $274,852 (-3.9%) 0.73 685
2020-05-01 $254,450 (9.3%) $299,900 (3.7%) 0.77 657
2020-06-01 $258,650 (12.5%) $316,781 (10.4%) 0.76 577
2020-07-01 $253,500 (8.5%) $319,338 (9.3%) 0.73 548
2020-08-01 $250,000 (8.6%) $316,573 (9.9%) 0.72 516
2020-09-01 $247,950 (9.1%) $314,958 (12.6%) 0.71 489
2020-10-01 $249,900 (12.3%) $319,813 (16.8%) 0.72 453
2020-11-01 $243,700 (8.3%) $316,720 (14.1%) 0.71 434
2020-12-01 $244,950 (9.4%) $320,673 (16.4%) 0.73 393
2021-01-01 $239,500 (8.9%) $332,308 (24.9%) 0.71 304
2021-02-01 $236,250 (5.1%) $341,648 (26.6%) 0.69 245
2021-03-01 $249,900 (9.0%) $343,679 (26.7%) 0.71 216
2021-04-01 $254,450 (8.9%) $365,408 (33.0%) 0.69 202
2021-05-01 $275,000 (8.1%) $388,538 (29.6%) 0.73 197
2021-06-01 $276,500 (6.9%) $383,403 (21.0%) 0.73 251
2021-07-01 $264,900 (4.5%) $368,560 (15.4%) 0.70 322
2021-08-01 $273,450 (9.4%) $371,536 (17.4%) 0.73 378
2021-09-01 $274,456 (10.7%) $377,290 (19.8%) 0.73 382
2021-10-01 $274,000 (9.6%) $400,965 (25.4%) 0.73 341
2021-11-01 $292,500 (20.0%) $411,530 (29.9%) 0.78 346
2021-12-01 $299,250 (22.2%) $446,840 (39.3%) 0.81 331
2022-01-01 $269,000 (12.3%) $439,233 (32.2%) 0.73 284
2022-02-01 $276,250 (16.9%) $447,233 (30.9%) 0.72 245
2022-03-01 $304,450 (21.8%) $463,145 (34.8%) 0.76 244
2022-04-01 $300,000 (17.9%) $455,949 (24.8%) 0.72 272
2022-05-01 $325,000 (18.2%) $485,991 (25.1%) 0.74 319
2022-06-01 $349,850 (26.5%) $490,824 (28.0%) 0.78 387
2022-07-01 $351,750 (32.8%) $477,981 (29.7%) 0.79 511
2022-08-01 $350,000 (28.0%) $458,350 (23.4%) 0.81 615
2022-09-01 $336,450 (22.6%) $419,852 (11.3%) 0.79 640
2022-10-01 $325,000 (18.6%) $409,541 (2.1%) 0.76 700
2022-11-01 $318,350 (8.8%) $426,991 (3.8%) 0.77 718
2022-12-01 $319,900 (6.9%) $427,627 (-4.3%) 0.79 708
2023-01-01 $319,950 (18.9%) $422,946 (-3.7%) 0.79 672
2023-02-01 $309,450 (12.0%) $409,177 (-8.5%) 0.75 705
2023-03-01 $310,175 (1.9%) $420,512 (-9.2%) 0.73 737
2023-04-01 $325,000 (8.3%) $434,977 (-4.6%) 0.76 743
2023-05-01 $342,450 (5.4%) $450,430 (-7.3%) 0.78 755
2023-06-01 $349,950 (0.0%) $454,992 (-7.3%) 0.79 795
2023-07-01 $349,000 (-0.8%) $448,038 (-6.3%) 0.79 870
2023-08-01 $349,900 (0.0%) $440,417 (-3.9%) 0.80 910
2023-09-01 $349,999 (4.0%) $444,068 (5.8%) 0.81 899
2023-10-01 $337,800 (3.9%) $428,614 (4.7%) 0.79 941
2023-11-01 $334,900 (5.2%) $428,280 (0.3%) 0.80 945
2023-12-01 $325,500 (1.8%) $422,321 (-1.2%) 0.79 936
2024-01-01 $330,000 (3.1%) $420,959 (-0.5%) 0.81 881
2024-02-01 $345,000 (11.5%) $438,398 (7.1%) 0.83 858
2024-03-01 $345,000 (11.2%) $440,782 (4.8%) 0.81 909
Waco's median listing price for 2024-03-01 was $345,000, a difference of $34,825 (11.2%) versus the prior year and $0 versus the prior month.

Waco's median listing price comes in at 81% of the national average.

Waco's average listing price for 2024-03-01 was $440,782, a difference of $20,270 (4.8%) versus the prior year and $2,384 versus the prior month.

For the 2024-03-01 period, Waco had 909 MLS listings, a difference of 51 listings (6%) versus the prior month and 172 listings (23%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Waco (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 77 days 1,961 sqft
2018-02-01 73 days 1,948 sqft
2018-03-01 59 days 1,975 sqft
2018-04-01 57 days 2,064 sqft
2018-05-01 52 days 2,056 sqft
2018-06-01 46 days 2,029 sqft
2018-07-01 44 days 1,984 sqft
2018-08-01 50 days 2,002 sqft
2018-09-01 60 days 2,031 sqft
2018-10-01 65 days 1,967 sqft
2018-11-01 71 days 2,004 sqft
2018-12-01 78 days 1,998 sqft
2019-01-01 83 days 1,993 sqft
2019-02-01 77 days 2,009 sqft
2019-03-01 65 days 2,021 sqft
2019-04-01 55 days 2,033 sqft
2019-05-01 52 days 2,035 sqft
2019-06-01 46 days 2,024 sqft
2019-07-01 45 days 2,034 sqft
2019-08-01 50 days 2,023 sqft
2019-09-01 57 days 1,997 sqft
2019-10-01 61 days 1,969 sqft
2019-11-01 66 days 1,976 sqft
2019-12-01 75 days 1,960 sqft
2020-01-01 76 days 1,945 sqft
2020-02-01 59 days 1,951 sqft
2020-03-01 55 days 2,009 sqft
2020-04-01 57 days 1,987 sqft
2020-05-01 54 days 2,046 sqft
2020-06-01 53 days 2,067 sqft
2020-07-01 54 days 2,084 sqft
2020-08-01 51 days 2,053 sqft
2020-09-01 50 days 2,015 sqft
2020-10-01 57 days 2,044 sqft
2020-11-01 52 days 1,997 sqft
2020-12-01 53 days 1,997 sqft
2021-01-01 64 days 1,995 sqft
2021-02-01 46 days 1,812 sqft
2021-03-01 40 days 1,847 sqft
2021-04-01 30 days 1,853 sqft
2021-05-01 23 days 1,949 sqft
2021-06-01 16 days 1,939 sqft
2021-07-01 21 days 1,858 sqft
2021-08-01 24 days 1,886 sqft
2021-09-01 31 days 1,884 sqft
2021-10-01 43 days 1,958 sqft
2021-11-01 42 days 2,006 sqft
2021-12-01 41 days 1,979 sqft
2022-01-01 47 days 1,796 sqft
2022-02-01 42 days 1,843 sqft
2022-03-01 32 days 1,893 sqft
2022-04-01 24 days 1,784 sqft
2022-05-01 22 days 1,829 sqft
2022-06-01 23 days 1,915 sqft
2022-07-01 29 days 1,986 sqft
2022-08-01 36 days 1,972 sqft
2022-09-01 40 days 1,912 sqft
2022-10-01 46 days 1,827 sqft
2022-11-01 52 days 1,810 sqft
2022-12-01 62 days 1,842 sqft
2023-01-01 68 days 1,832 sqft
2023-02-01 62 days 1,770 sqft
2023-03-01 51 days 1,802 sqft
2023-04-01 53 days 1,837 sqft
2023-05-01 61 days 1,954 sqft
2023-06-01 62 days 1,997 sqft
2023-07-01 53 days 1,973 sqft
2023-08-01 56 days 1,973 sqft
2023-09-01 64 days 1,964 sqft
2023-10-01 69 days 1,941 sqft
2023-11-01 68 days 1,916 sqft
2023-12-01 72 days 1,887 sqft
2024-01-01 81 days 1,856 sqft
2024-02-01 83 days 1,893 sqft
2024-03-01 66 days 1,914 sqft
Waco's median listing age (time on market) for 2024-03-01 was 66 days. This is 29% longer than the same period one year ago.

Waco's median square footage for active listings during the 2024-03-01 period was 1,914 sqft. One year prior, the average listing was 1,802 sqft.