Waco USDA Loans

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 5.44% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.47% and one month ago for the week of 2022-04-08, the average rate was 4.93%.

The average rate one year ago was 3.14%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.23%.

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 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. Total Fees
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 $206,500 (14.3%) $261,544 (0.5%) 0.76 641
2018-02-01 $211,000 (17.3%) $265,594 (1.6%) 0.76 659
2018-03-01 $219,700 (14.4%) $278,528 (4.7%) 0.76 649
2018-04-01 $225,500 (15.6%) $292,367 (12.9%) 0.76 661
2018-05-01 $225,000 (7.4%) $292,919 (8.9%) 0.75 665
2018-06-01 $229,000 (9.1%) $289,296 (4.4%) 0.76 741
2018-07-01 $209,500 (-1.0%) $278,618 (-1.5%) 0.70 829
2018-08-01 $209,700 (-0.1%) $277,997 (2.3%) 0.70 854
2018-09-01 $214,900 (4.4%) $283,596 (6.2%) 0.72 852
2018-10-01 $200,000 (-2.6%) $285,385 (8.9%) 0.67 889
2018-11-01 $199,900 (-1.3%) $283,081 (10.7%) 0.67 881
2018-12-01 $199,999 (0.1%) $282,695 (10.6%) 0.68 834
2019-01-01 $200,000 (-3.2%) $276,381 (5.7%) 0.69 782
2019-02-01 $213,900 (1.4%) $270,989 (2.0%) 0.72 778
2019-03-01 $221,329 (0.7%) $281,693 (1.1%) 0.72 754
2019-04-01 $231,700 (2.8%) $295,009 (0.9%) 0.73 715
2019-05-01 $231,450 (2.9%) $297,377 (1.5%) 0.71 718
2019-06-01 $229,900 (0.4%) $296,216 (2.4%) 0.71 752
2019-07-01 $235,500 (12.4%) $300,192 (7.7%) 0.73 815
2019-08-01 $232,814 (11.0%) $293,852 (5.7%) 0.73 795
2019-09-01 $229,450 (6.8%) $281,699 (-0.7%) 0.73 756
2019-10-01 $224,839 (12.4%) $275,739 (-3.4%) 0.72 777
2019-11-01 $225,000 (12.6%) $281,922 (-0.4%) 0.73 755
2019-12-01 $225,000 (12.5%) $280,171 (-0.9%) 0.75 720
2020-01-01 $222,450 (11.2%) $268,189 (-3.0%) 0.74 677
2020-02-01 $224,900 (5.1%) $276,188 (1.9%) 0.73 696
2020-03-01 $228,683 (3.3%) $271,897 (-3.5%) 0.71 686
2020-04-01 $232,450 (0.3%) $277,669 (-5.9%) 0.72 697
2020-05-01 $249,900 (8.0%) $303,301 (2.0%) 0.76 674
2020-06-01 $259,900 (13.1%) $318,949 (7.7%) 0.76 598
2020-07-01 $255,450 (8.5%) $321,978 (7.3%) 0.73 563
2020-08-01 $255,000 (9.5%) $323,990 (10.3%) 0.73 532
2020-09-01 $250,000 (9.0%) $321,619 (14.2%) 0.71 503
2020-10-01 $250,000 (11.2%) $325,817 (18.2%) 0.71 461
2020-11-01 $245,000 (8.9%) $324,898 (15.2%) 0.70 440
2020-12-01 $247,000 (9.8%) $329,187 (17.5%) 0.72 403
2021-01-01 $240,000 (7.9%) $342,052 (27.5%) 0.71 314
2021-02-01 $244,990 (8.9%) $355,453 (28.7%) 0.70 257
2021-03-01 $258,450 (13.0%) $380,139 (39.8%) 0.72 218
2021-04-01 $259,450 (11.6%) $403,041 (45.2%) 0.70 201
2021-05-01 $275,000 (10.0%) $429,911 (41.7%) 0.72 200
2021-06-01 $293,250 (12.8%) $421,727 (32.2%) 0.76 255
2021-07-01 $267,450 (4.7%) $401,004 (24.5%) 0.69 331
2021-08-01 $280,713 (10.1%) $398,981 (23.2%) 0.74 404
2021-09-01 $277,817 (11.1%) $407,641 (26.8%) 0.73 400
2021-10-01 $279,900 (12.0%) $437,486 (34.3%) 0.74 356
2021-11-01 $299,900 (22.4%) $441,263 (35.8%) 0.79 365
2021-12-01 $319,900 (29.5%) $470,948 (43.1%) 0.85 356
2022-01-01 $277,900 (15.8%) $462,386 (35.2%) 0.74 300
2022-02-01 $292,500 (19.4%) $460,394 (29.5%) 0.75 260
2022-03-01 $312,500 (20.9%) $465,278 (22.4%) 0.77 259
2022-04-01 $315,000 (21.4%) $468,305 (16.2%) 0.74 291
Waco's median listing price for 2022-04-01 was $315,000, a difference of $55,550 (21.4%) versus the prior year and $2,500 versus the prior month.

Waco's median listing price comes in at 74% of the national average.

Waco's average listing price for 2022-04-01 was $468,305, a difference of $65,264 (16.2%) versus the prior year and $3,027 versus the prior month.

For the 2022-04-01 period, Waco had 291 MLS listings, a difference of 32 listings (12%) versus the prior month and 90 listings (45%) 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 1,966 sqft
2018-02-01 78 days 1,972 sqft
2018-03-01 67 days 1,984 sqft
2018-04-01 59 days 2,082 sqft
2018-05-01 55 days 2,076 sqft
2018-06-01 49 days 2,015 sqft
2018-07-01 45 days 1,971 sqft
2018-08-01 51 days 1,990 sqft
2018-09-01 63 days 2,020 sqft
2018-10-01 67 days 1,962 sqft
2018-11-01 73 days 1,992 sqft
2018-12-01 80 days 1,997 sqft
2019-01-01 88 days 1,989 sqft
2019-02-01 85 days 2,009 sqft
2019-03-01 84 days 2,020 sqft
2019-04-01 60 days 2,037 sqft
2019-05-01 57 days 2,041 sqft
2019-06-01 51 days 2,041 sqft
2019-07-01 47 days 2,043 sqft
2019-08-01 56 days 2,037 sqft
2019-09-01 66 days 2,029 sqft
2019-10-01 63 days 1,978 sqft
2019-11-01 67 days 2,002 sqft
2019-12-01 75 days 1,990 sqft
2020-01-01 76 days 1,976 sqft
2020-02-01 63 days 1,977 sqft
2020-03-01 56 days 2,002 sqft
2020-04-01 62 days 2,000 sqft
2020-05-01 58 days 2,055 sqft
2020-06-01 56 days 2,069 sqft
2020-07-01 57 days 2,087 sqft
2020-08-01 53 days 2,070 sqft
2020-09-01 53 days 2,040 sqft
2020-10-01 58 days 2,070 sqft
2020-11-01 57 days 2,021 sqft
2020-12-01 58 days 2,010 sqft
2021-01-01 70 days 1,983 sqft
2021-02-01 61 days 1,852 sqft
2021-03-01 44 days 1,858 sqft
2021-04-01 41 days 1,855 sqft
2021-05-01 30 days 1,978 sqft
2021-06-01 18 days 2,006 sqft
2021-07-01 22 days 1,886 sqft
2021-08-01 27 days 1,916 sqft
2021-09-01 33 days 1,907 sqft
2021-10-01 45 days 2,000 sqft
2021-11-01 44 days 2,068 sqft
2021-12-01 44 days 2,035 sqft
2022-01-01 51 days 1,833 sqft
2022-02-01 51 days 1,879 sqft
2022-03-01 43 days 1,916 sqft
2022-04-01 29 days 1,792 sqft
Waco's median listing age (time on market) for 2022-04-01 was 29 days. This is -28% shorter than the same period one year ago.

Waco's median square footage for active listings during the 2022-04-01 period was 1,792 sqft. One year prior, the average listing was 1,855 sqft.