Waco USDA Loan Rates, Closing Costs & Stats

WACO, TX

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    • 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 6.7% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.65% and one month ago for the week of 2024-03-15, the average rate was 6.63%.

    The average rate one year ago was 6.07%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.98%.

    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.