Tennessee USDA Loan Rates, Closing Costs & Stats

Tennessee

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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.

    Tennessee USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Tennessee averaged 6.24% for the week of 2025-04-04, compared to the national average (all USDA variants) of 6.324% for the same period.

    Tennessee's average USDA mortgage closing costs are $5,373.

    The average rate for the prior week (2025-03-28) was 6.5% and one month ago for the week of 2025-02-28, the average rate was 6.45%.

    The average rate one year ago was 6.51%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.21%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Tennessee 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 Tennessee level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    FIRST COMMUNITY MORTGAGE, INC. 132 6.21% $7,707
    MORTGAGE INVESTORS GROUP, INC. 104 6.34% $7,333
    Leaders Credit Union 86 6.60% $3,624
    CMG MORTGAGE, INC. 73 6.31% $8,957
    UNITED WHOLESALE MORTGAGE, LLC 58 6.02% $9,459
    Equity Prime Mortgage LLC 58 6.27% $10,473
    UNION HOME MORTGAGE CORP. 56 6.21% $8,247
    STOCKTON MORTGAGE CORPORATION 54 6.21% $8,062
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 48 6.32% $8,742
    MID AMERICA MORTGAGE, INC. 38 6.67% $6,678
    CROSSCOUNTRY MORTGAGE, LLC 35 6.39% $8,763
    AMERICAN FINANCIAL RESOURCES, INC. 35 6.42% $9,051
    NEWREZ LLC 34 6.18% $7,722
    FirstBank 31 6.39% $7,656
    MOVEMENT MORTGAGE, LLC 30 6.71% $7,616
    First Citizens National Bank 26 6.36% $5,165
    DHI MORTGAGE COMPANY, LTD. 24 5.58% $5,382
    Patriot Bank 23 6.07% $6,635
    BROKER SOLUTIONS, INC. 20 6.61% $9,435
    Renasant Bank 19 6.34% $6,670
    AMERICAN FINANCIAL NETWORK, INC. 19 6.41% $5,345
    The First National Bank of Middle Tennessee 18 6.19% $6,977
    SeaTrust Mortgage Company 16 6.30% $7,771
    ISERVE RESIDENTIAL LENDING, LLC 15 6.42% $6,867
    COMMUNITY MORTGAGE CORPORATION 14 6.20% $7,435
    Magnolia Bank 14 6.46% $6,664
    CARDINAL FINANCIAL 12 6.62% $9,639
    Flagstar Bank, FSB 12 6.50% $6,368
    Regions Bank 11 6.33% $6,427
    AMERICAN PACIFIC MORTGAGE CORPORATION 11 6.58% $9,429
    Simmons Bank 11 6.33% $5,464
    VAN DYK MORTGAGE CORPORATION 11 6.64% $2,862
    BancorpSouth 11 6.14% $6,802
    LEADERONE FINANCIAL CORPORATION 10 6.51% $8,254
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 10 6.65% $3,860
    T2 FINANCIAL LLC 10 6.47% $9,726
    Sierra Pacific Mortgage Company, Inc. 10 6.36% $8,648
    Legends Bank 9 6.65% $5,228
    GUILD MORTGAGE COMPANY 9 6.36% $7,951
    Gateway First Bank 8 6.86% $7,493
    SUCCESS MORTGAGE PARTNERS, INC. 8 6.66% $8,783
    United Community Bank 8 6.20% $6,877
    Paramount Residential Mortgage Group, Inc. 8 6.22% $7,985
    HOMESIDE FINANCIAL, LLC 7 6.36% $9,082
    PRIMARY RESIDENTIAL MORTGAGE, INC. 7 6.29% $6,660
    Century Mortgage Company DBA Century Lending Company 7 6.48% $7,401
    GVC MORTGAGE, INC. 7 6.46% $10,865
    GUARANTEED RATE, INC. 7 6.44% $7,277
    DELMAR FINANCIAL COMPANY 6 6.17% $7,881
    PLANET HOME LENDING, LLC 6 6.87% $7,389
    Wilson Bank And Trust 5 6.57% $6,250
    GMFS LLC 5 5.92% $4,885
    KELLEY MORTGAGE, LLC 5 6.10% $2,664
    Ixonia Bank 5 6.28% $10,639
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 5 6.80% $8,451
    1ST SIGNATURE LENDING, LLC 5 6.05% $13,946
    ACOPIA, LLC 5 6.37% $8,272
    SmartBank 5 5.98% $6,332
    SWBC MORTGAGE CORPORATION 5 6.70% $3,766
    Mortgage Research Center, LLC 5 6.10% $3,675
    Y-12 Federal Credit Union 4 7.50% $7,300
    BARTLETT MORTGAGE, INC. 4 6.28% $6,292
    Citizens Tri-County Bank 4 5.84% $8,829
    First Federal Bank 4 6.03% $7,470
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.56% $11,619
    Nations Lending Corporation 4 6.69% $3,185
    PLAZA HOME MORTGAGE, INC. 4 6.50% $7,311
    TOWNE MORTGAGE COMPANY 4 6.59% $6,502
    Wolfe Financial, Inc 4 6.06% $8,055
    Old National Bank 3 6.00% $6,652
    SECURITYNATIONAL MORTGAGE COMPANY 3 6.79% $10,848
    EUSTIS AND AMERICAN MORTGAGE COMPANY 3 6.37% $7,956
    FLAT BRANCH MORTGAGE, INC. 3 6.46% $6,736
    EVERETT FINANCIAL, INC. 3 6.38% $5,371
    TENNESSEE TRUST MORTGAGE, INC 3 6.16% $6,128
    Bank of England 3 6.38% $8,430
    TJC Mortgage, Inc. 3 6.63% $5,856
    Evolve Bank & Trust 3 6.38% $6,465
    U.S. Bank 3 6.71% $8,665
    GARDNER FINANCIAL SERVICES, LTD. 3 6.46% $6,997
    Barrington Bank & Trust Company, N.A. 2 6.44% $7,991
    CHURCHILL MORTGAGE CORPORATION 2 6.56% $9,454
    Bank of Tennessee 2 6.12% $11,073
    NVR Mortgage Finance, Inc. 2 6.37% $5,818
    LOANDEPOT.COM, LLC 2 6.31% $6,657
    GUARANTY MORTGAGE SERVICES, L.L.C. 2 7.06% $7,918
    MORTGAGE FINANCIAL SERVICES, LLC 2 6.69% $7,690
    HOMEAMERICAN MORTGAGE CORPORATION 2 5.12% $6,381
    TOP FLITE FINANCIAL, INC. 2 6.50% $8,062
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 6.44% $9,642
    Truist 2 6.13% $8,325
    AXIA FINANCIAL, LLC 2 6.94% $8,810
    MASON MCDUFFIE MORTGAGE CORPORATION 2 6.31% $6,165
    Bell Bank 2 6.63% $7,400
    CORNERSTONE HOME LENDING, INC. 2 6.87% $7,247
    SOUTHWEST FUNDING, LP 2 7.31% $7,918
    Ameris Bank 2 6.13% $8,104
    CB&S Bank, Inc. 2 6.56% $5,051
    CASTLE & COOKE MORTGAGE, LLC 2 6.50% $8,437
    FIRST COLONY MORTGAGE CORPORATION 2 6.06% $9,373
    SUMMIT FUNDING, INC. 1 5.25% $20,587
    SUN WEST MORTGAGE COMPANY, INC. 1 6.00% $9,225
    Synovus Bank 1 6.13% $6,210
    The Farmers Bank 1 6.00% $7,394
    The Loan Store, Inc. 1 6.63% $4,519
    ALAMEDA MORTGAGE CORPORATION 1 7.25% $7,033
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.38% $8,263
    Assurance Financial Group, L.L.C. 1 6.25% $4,909
    Independent Bank 1 6.38% $8,134
    BM Real Estate Services, Inc. 1 5.99% $9,384
    FIRST INTEGRITY MORTGAGE SERVICES, INC. 1 6.88% $6,021
    First Horizon Bank 1 6.63% $8,279
    Legacy Home Loans, LLC 1 6.75% $9,431
    MICHIGAN MUTUAL, INC. 1 6.75% $8,490
    Midwest BankCentre 1 6.13% $7,453
    Midwest Mortgage Associates Corporation 1 6.13% $15,282
    EVANSVILLE TEACHERS 1 6.25% $8,555
    EMBRACE HOME LOANS, INC. 1 6.49% $11,285
    V.I.P. MORTGAGE, INC. 1 6.88% $6,193
    Edmonton State Bank 1 6.63% $5,563
    NFM, INC. 1 5.63% $6,309
    NORTHERN MORTGAGE SERVICES, LLC 1 6.25% $4,327
    Northpointe Bank 1 7.13% $5,147
    NORWICH COMMERCIAL GROUP, INC. 1 6.25% $8,682
    ON Q FINANCIAL, INC. 1 6.25% $7,767
    PANORAMA MORTGAGE GROUP, LLC 1 6.88% $7,743
    Cornerstone First Mortgage, Inc 1 6.25% $7,120
    Citizens Bank 1 7.25% $4,203
    American Mortgage & Equity Consultants, Inc. 1 6.13% $11,111
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.00% $6,516
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $9,537
    Prosperity Home Mortgage, LLC 1 6.49% $5,921
    RANLIFE, INC. 1 5.88% $8,834
    Sandy Spring Bank 1 6.63% $6,681
    Carrington Mortgage Services, LLC 1 5.50% $11,301
    CANOPY MORTGAGE, LLC 1 6.25% $9,294
    Franklin Loan Corporation 1 5.99% $6,921
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.00% $6,889
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.50% $10,055
    BAY EQUITY LLC 1 6.25% $8,200

    The top Tennessee USDA lender as defined by loan originations is FIRST COMMUNITY MORTGAGE, INC., with 132 USDA loans originated. Their average total fees are $7,707, which is $374 higher than the next largest lender, MORTGAGE INVESTORS GROUP, INC..

    The lowest fee Tennessee USDA lenders (with over 10 loans originated) are VAN DYK MORTGAGE CORPORATION ($2,862), Leaders Credit Union ($3,624), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($3,860), First Citizens National Bank ($5,165) and AMERICAN FINANCIAL NETWORK, INC. ($5,345).

    The lowest rate Tennessee USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.58%), UNITED WHOLESALE MORTGAGE, LLC (6.02%), Patriot Bank (6.07%), BancorpSouth (6.14%) and NEWREZ LLC (6.18%).