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 14 lenders originated 18 USDA loans during 2022. The total origination value was $3,900,000, with an average USDA loan value of $216,667.
Waco USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Waco
averaged
-0.38%
for the week of 2023-11-24, compared to the national average (all USDA variants) of
0% for the same period.
Waco's average USDA mortgage closing costs are $5,333.
The average rate for the prior week (2023-11-17) was
6.81% and
one month ago for the week of 2023-10-20, the
average rate was 7.23%.
The average rate one year ago was 6.17%.
For refis of the same type during the week of 2023-11-24, the average rate
was -0.97%.
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 | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
|---|---|---|---|
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 3 | 5.38% | $4,646 |
| DHI MORTGAGE COMPANY, LTD. | 2 | 3.31% | $7,946 |
| City Bank | 2 | 4.44% | $9,037 |
| Loan Simple, Inc. | 1 | 3.25% | $10,235 |
| MUTUAL OF OMAHA MORTGAGE, INC. | 1 | 4.75% | $9,261 |
| Network Funding, L.P. | 1 | 4.75% | $10,984 |
| PENNYMAC LOAN SERVICES, LLC | 1 | 3.13% | $3,777 |
| Republic State Mortgage Co. | 1 | 4.25% | $8,225 |
| SWBC MORTGAGE CORPORATION | 1 | 4.13% | $6,797 |
| T2 FINANCIAL LLC | 1 | 3.25% | $20,194 |
| ASPIRE FINANCIAL, INC. | 1 | 4.75% | $5,972 |
| UNION HOME MORTGAGE CORP. | 1 | 6.00% | $9,947 |
| GUARANTEED RATE, INC. | 1 | 6.13% | $6,954 |
| HAMILTON HOME LOANS, INC. | 1 | 3.99% | $7,158 |
The top Waco USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
3 USDA loans originated. Their average total fees are
$4,646, which is $3,300
lower than the next largest lender,
DHI MORTGAGE COMPANY, LTD..
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 (9.3%) | $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%) | $277,612 (-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%) | $273,797 (7.1%) | 0.69 | 789 |
| 2019-01-01 | $201,250 (-2.1%) | $268,981 (2.7%) | 0.70 | 746 |
| 2019-02-01 | $214,417 (3.9%) | $269,261 (2.4%) | 0.72 | 745 |
| 2019-03-01 | $221,900 (4.6%) | $277,545 (1.0%) | 0.73 | 724 |
| 2019-04-01 | $230,950 (4.5%) | $285,890 (-1.0%) | 0.73 | 691 |
| 2019-05-01 | $233,375 (4.4%) | $289,488 (-0.3%) | 0.73 | 695 |
| 2019-06-01 | $229,900 (1.4%) | $286,962 (-0.6%) | 0.72 | 724 |
| 2019-07-01 | $233,625 (11.3%) | $292,295 (5.3%) | 0.73 | 784 |
| 2019-08-01 | $230,245 (10.9%) | $287,906 (4.4%) | 0.73 | 780 |
| 2019-09-01 | $227,239 (6.9%) | $279,708 (-0.4%) | 0.73 | 757 |
| 2019-10-01 | $222,450 (9.9%) | $273,575 (-2.0%) | 0.72 | 749 |
| 2019-11-01 | $225,000 (12.5%) | $277,674 (0.0%) | 0.74 | 717 |
| 2019-12-01 | $223,995 (12.0%) | $275,431 (0.6%) | 0.75 | 686 |
| 2020-01-01 | $220,000 (9.3%) | $265,846 (-1.2%) | 0.74 | 652 |
| 2020-02-01 | $224,900 (4.9%) | $269,720 (0.2%) | 0.74 | 678 |
| 2020-03-01 | $229,225 (3.3%) | $271,285 (-2.3%) | 0.72 | 667 |
| 2020-04-01 | $233,675 (1.2%) | $274,852 (-3.9%) | 0.73 | 685 |
| 2020-05-01 | $254,450 (9.0%) | $299,900 (3.6%) | 0.77 | 657 |
| 2020-06-01 | $258,650 (12.5%) | $316,781 (10.4%) | 0.76 | 577 |
| 2020-07-01 | $253,500 (8.5%) | $319,085 (9.2%) | 0.73 | 548 |
| 2020-08-01 | $250,000 (8.6%) | $316,573 (10.0%) | 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 (16.9%) | 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 (25.0%) | 0.71 | 304 |
| 2021-02-01 | $236,250 (5.1%) | $341,648 (26.7%) | 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 (15.5%) | 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%) | $458,313 (23.4%) | 0.81 | 614 |
| 2022-09-01 | $336,450 (22.6%) | $419,792 (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 |
Waco's median listing price comes in at 79% of the national average.
Waco's average listing price for 2023-10-01 was $428,614, a difference of $19,073 (4.7%) versus the prior year and $-15,454 versus the prior month.
For the 2023-10-01 period, Waco had 941 MLS listings, a difference of 42 listings (5%) versus the prior month and 241 listings (34%) 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 | 1,949 sqft |
| 2018-03-01 | 59 days | 1,975 sqft |
| 2018-04-01 | 57 days | 2,063 sqft |
| 2018-05-01 | 52 days | 2,054 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 | 1,997 sqft |
| 2019-01-01 | 83 days | 1,991 sqft |
| 2019-02-01 | 76 days | 2,007 sqft |
| 2019-03-01 | 65 days | 2,019 sqft |
| 2019-04-01 | 55 days | 2,032 sqft |
| 2019-05-01 | 52 days | 2,035 sqft |
| 2019-06-01 | 46 days | 2,028 sqft |
| 2019-07-01 | 45 days | 2,034 sqft |
| 2019-08-01 | 49 days | 2,023 sqft |
| 2019-09-01 | 56 days | 1,996 sqft |
| 2019-10-01 | 60 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 | 1,943 sqft |
| 2020-02-01 | 60 days | 1,950 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 | 2,083 sqft |
| 2020-08-01 | 51 days | 2,065 sqft |
| 2020-09-01 | 50 days | 2,018 sqft |
| 2020-10-01 | 57 days | 2,047 sqft |
| 2020-11-01 | 52 days | 2,002 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 | 1,971 sqft |
| 2022-09-01 | 40 days | 1,911 sqft |
| 2022-10-01 | 46 days | 1,832 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 | 2,000 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 | 1,940 sqft |
Waco's median square footage for active listings during the 2023-10-01 period was 1,940 sqft. One year prior, the average listing was 1,832 sqft.