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
6.61%
for the week of 2024-11-08, compared to the national average (all USDA variants) of
6.477% for the same period.
Waco's average USDA mortgage closing costs are $5,499.
The average rate for the prior week (2024-11-01) was
6.28% and
one month ago for the week of 2024-10-04, the
average rate was 5.81%.
The average rate one year ago was 7.35%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.39%.
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 |
| 2024-04-01 | $347,450 (6.9%) | $447,761 (2.9%) | 0.81 | 948 |
| 2024-05-01 | $345,935 (1.0%) | $453,068 (0.6%) | 0.78 | 990 |
| 2024-06-01 | $339,900 (-2.9%) | $451,628 (-0.7%) | 0.76 | 1,049 |
| 2024-07-01 | $339,950 (-2.6%) | $440,747 (-1.6%) | 0.78 | 1,089 |
| 2024-08-01 | $335,000 (-4.3%) | $439,051 (-0.3%) | 0.78 | 1,093 |
| 2024-09-01 | $330,025 (-5.7%) | $438,799 (-1.2%) | 0.78 | 1,109 |
| 2024-10-01 | $332,450 (-1.6%) | $438,022 (2.2%) | 0.78 | 1,095 |
Waco's median listing price comes in at 78% of the national average.
Waco's average listing price for 2024-10-01 was $438,022, a difference of $9,408 (2.2%) versus the prior year and $-777 versus the prior month.
For the 2024-10-01 period, Waco had 1,095 MLS listings, a difference of -14 listings (-1%) versus the prior month and 154 listings (16%) 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 |
| 2024-04-01 | 56 days | 1,935 sqft |
| 2024-05-01 | 54 days | 1,959 sqft |
| 2024-06-01 | 58 days | 1,914 sqft |
| 2024-07-01 | 65 days | 1,921 sqft |
| 2024-08-01 | 73 days | 1,914 sqft |
| 2024-09-01 | 72 days | 1,908 sqft |
| 2024-10-01 | 75 days | 1,922 sqft |
Waco's median square footage for active listings during the 2024-10-01 period was 1,922 sqft. One year prior, the average listing was 1,941 sqft.