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 15 lenders originated 34 USDA loans during 2021. The total origination value was $7,160,000, with an average USDA loan value of $210,588.

Waco USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Waco averaged 0.04% for the week of 2022-11-25, compared to the national average (all USDA variants) of 0% for the same period.

Waco's average USDA mortgage closing costs are $5,026.

The average rate for the prior week (2022-11-18) was 6.79% and one month ago for the week of 2022-10-21, the average rate was 6.8%.

The average rate one year ago was 3.64%.

For refis of the same type during the week of 2022-11-25, the average rate was -0.26%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
DHI MORTGAGE COMPANY, LTD. 10 2.76% $5,597
SWBC MORTGAGE CORPORATION 4 3.47% $4,030
Wallick & Volk, Inc. 3 3.42% $4,110
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.17% $6,924
Flagstar Bank, FSB 2 2.69% $7,042
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.63% $4,945
HOME POINT FINANCIAL CORPORATION 2 3.12% $7,937
AMCAP MORTGAGE, LTD. 1 3.88% $7,703
GREAT WESTERN FINANCIAL SERVICES, INC. 1 2.88% $6,928
AMERICAN FINANCIAL NETWORK, INC. 1 2.88% $5,748
Hometown Equity Mortgage, LLC 1 4.13% $4,904
PLAZA HOME MORTGAGE, INC. 1 2.38% $7,106
Bank of England 1 3.25% $7,115
Amerifirst Financial, Inc. 1 3.13% $5,024
FIRST CENTENNIAL MORTGAGE CORPORATION 1 2.75% $7,565

The top Waco USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 10 USDA loans originated. Their average total fees are $5,597, which is $1,567 higher than the next largest lender, SWBC MORTGAGE CORPORATION.

The lowest fee Waco USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($5,597), .

The lowest rate Waco USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (2.76%), .


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 (9.3%) $274,832 (3.3%) 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%) $277,503 (-2.2%) 0.70 800
2018-08-01 $207,563 (-1.1%) $275,907 (0.1%) 0.69 817
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%) 0.68 842
2018-11-01 $200,000 (0.0%) $277,776 (8.8%) 0.68 832
2018-12-01 $200,000 (0.1%) $273,797 (7.1%) 0.69 789
2019-01-01 $201,250 (-2.1%) $268,981 (2.7%) 0.69 746
2019-02-01 $214,885 (4.1%) $269,236 (2.4%) 0.73 746
2019-03-01 $223,043 (5.1%) $277,528 (1.0%) 0.73 724
2019-04-01 $230,950 (4.5%) $285,886 (-1.0%) 0.73 691
2019-05-01 $233,375 (4.4%) $289,495 (-0.3%) 0.73 695
2019-06-01 $229,900 (1.4%) $286,962 (-0.6%) 0.72 725
2019-07-01 $234,750 (11.8%) $292,601 (5.4%) 0.73 785
2019-08-01 $231,882 (11.7%) $288,218 (4.5%) 0.73 781
2019-09-01 $227,955 (7.3%) $280,039 (-0.3%) 0.73 758
2019-10-01 $222,450 (9.9%) $273,915 (-1.9%) 0.72 750
2019-11-01 $225,000 (12.5%) $278,023 (0.1%) 0.74 718
2019-12-01 $224,495 (12.3%) $275,803 (0.7%) 0.75 687
2020-01-01 $220,000 (9.3%) $266,252 (-1.0%) 0.74 653
2020-02-01 $224,900 (4.7%) $270,097 (0.3%) 0.74 679
2020-03-01 $229,450 (2.9%) $271,682 (-2.1%) 0.72 668
2020-04-01 $234,900 (1.7%) $275,225 (-3.7%) 0.74 686
2020-05-01 $254,900 (9.2%) $300,253 (3.7%) 0.77 658
2020-06-01 $258,900 (12.6%) $317,148 (10.5%) 0.76 578
2020-07-01 $254,225 (8.3%) $319,467 (9.2%) 0.74 549
2020-08-01 $250,000 (7.8%) $317,010 (10.0%) 0.72 517
2020-09-01 $248,925 (9.2%) $315,401 (12.6%) 0.71 490
2020-10-01 $249,900 (12.3%) $320,274 (16.9%) 0.72 454
2020-11-01 $244,950 (8.9%) $316,824 (14.0%) 0.72 435
2020-12-01 $244,950 (9.1%) $320,673 (16.3%) 0.73 394
2021-01-01 $239,500 (8.9%) $332,712 (25.0%) 0.71 305
2021-02-01 $237,500 (5.6%) $342,426 (26.8%) 0.69 246
2021-03-01 $249,925 (8.9%) $344,526 (26.8%) 0.71 217
2021-04-01 $254,725 (8.4%) $366,175 (33.1%) 0.69 203
2021-05-01 $275,000 (7.9%) $389,309 (29.7%) 0.73 198
2021-06-01 $276,975 (7.0%) $383,975 (21.1%) 0.73 252
2021-07-01 $265,000 (4.2%) $370,732 (16.1%) 0.70 322
2021-08-01 $274,975 (10.0%) $372,622 (17.5%) 0.73 378
2021-09-01 $274,950 (10.5%) $378,392 (20.0%) 0.73 382
2021-10-01 $274,000 (9.6%) $402,126 (25.6%) 0.73 341
2021-11-01 $295,231 (20.5%) $412,730 (30.3%) 0.79 346
2021-12-01 $299,500 (22.3%) $447,624 (39.6%) 0.81 331
2022-01-01 $269,450 (12.5%) $439,537 (32.1%) 0.73 285
2022-02-01 $278,725 (17.4%) $447,569 (30.7%) 0.72 246
2022-03-01 $304,975 (22.0%) $463,430 (34.5%) 0.76 245
2022-04-01 $302,500 (18.8%) $456,237 (24.6%) 0.72 273
2022-05-01 $325,000 (18.2%) $486,141 (24.9%) 0.74 320
2022-06-01 $349,950 (26.4%) $490,930 (27.9%) 0.78 388
2022-07-01 $353,500 (33.4%) $478,089 (29.0%) 0.80 512
2022-08-01 $350,000 (27.3%) $458,473 (23.0%) 0.81 616
2022-09-01 $336,450 (22.4%) $420,026 (11.0%) 0.79 641
2022-10-01 $325,000 (18.6%) $409,645 (1.9%) 0.76 701
Waco's median listing price for 2022-10-01 was $325,000, a difference of $51,000 (18.6%) versus the prior year and $-11,450 versus the prior month.

Waco's median listing price comes in at 76% of the national average.

Waco's average listing price for 2022-10-01 was $409,645, a difference of $7,519 (1.9%) versus the prior year and $-10,381 versus the prior month.

For the 2022-10-01 period, Waco had 701 MLS listings, a difference of 60 listings (9%) versus the prior month and 360 listings (106%) 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 79 days 1,963 sqft
2018-02-01 76 days 1,951 sqft
2018-03-01 63 days 1,977 sqft
2018-04-01 59 days 2,065 sqft
2018-05-01 55 days 2,059 sqft
2018-06-01 49 days 2,032 sqft
2018-07-01 46 days 1,983 sqft
2018-08-01 51 days 1,999 sqft
2018-09-01 63 days 2,026 sqft
2018-10-01 67 days 1,964 sqft
2018-11-01 73 days 2,005 sqft
2018-12-01 81 days 1,998 sqft
2019-01-01 87 days 1,992 sqft
2019-02-01 84 days 2,008 sqft
2019-03-01 72 days 2,019 sqft
2019-04-01 61 days 2,030 sqft
2019-05-01 54 days 2,035 sqft
2019-06-01 50 days 2,028 sqft
2019-07-01 48 days 2,036 sqft
2019-08-01 54 days 2,024 sqft
2019-09-01 60 days 1,997 sqft
2019-10-01 64 days 1,969 sqft
2019-11-01 68 days 1,977 sqft
2019-12-01 76 days 1,962 sqft
2020-01-01 77 days 1,945 sqft
2020-02-01 62 days 1,951 sqft
2020-03-01 58 days 2,010 sqft
2020-04-01 60 days 1,988 sqft
2020-05-01 56 days 2,047 sqft
2020-06-01 55 days 2,068 sqft
2020-07-01 57 days 2,084 sqft
2020-08-01 52 days 2,067 sqft
2020-09-01 53 days 2,020 sqft
2020-10-01 57 days 2,050 sqft
2020-11-01 56 days 2,007 sqft
2020-12-01 56 days 1,997 sqft
2021-01-01 68 days 1,996 sqft
2021-02-01 56 days 1,817 sqft
2021-03-01 42 days 1,850 sqft
2021-04-01 32 days 1,856 sqft
2021-05-01 25 days 1,954 sqft
2021-06-01 18 days 1,943 sqft
2021-07-01 21 days 1,858 sqft
2021-08-01 25 days 1,891 sqft
2021-09-01 32 days 1,888 sqft
2021-10-01 43 days 1,980 sqft
2021-11-01 44 days 2,014 sqft
2021-12-01 43 days 1,983 sqft
2022-01-01 50 days 1,804 sqft
2022-02-01 44 days 1,845 sqft
2022-03-01 33 days 1,894 sqft
2022-04-01 28 days 1,788 sqft
2022-05-01 23 days 1,831 sqft
2022-06-01 24 days 1,926 sqft
2022-07-01 30 days 1,994 sqft
2022-08-01 37 days 1,975 sqft
2022-09-01 42 days 1,918 sqft
2022-10-01 49 days 1,837 sqft
Waco's median listing age (time on market) for 2022-10-01 was 49 days. This is 14% longer than the same period one year ago.

Waco's median square footage for active listings during the 2022-10-01 period was 1,837 sqft. One year prior, the average listing was 1,980 sqft.