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%.
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 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 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.
