Texas USDA Loan Rates, Closing Costs & Stats

Texas

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.

Texas USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Texas averaged 6.25% for the week of 2024-06-14, compared to the national average (all USDA variants) of 6.709% for the same period.

Texas's average USDA mortgage closing costs are $6,523.

The average rate for the prior week (2024-06-07) was 6.35% and one month ago for the week of 2024-05-10, the average rate was 6.43%.

The average rate one year ago was 6.19%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.66%.

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

Texas 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 Texas level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
DHI MORTGAGE COMPANY, LTD. 107 5.03% $7,968
EAGLE HOME MORTGAGE, LLC 103 4.83% $7,683
GUILD MORTGAGE COMPANY 68 6.38% $8,969
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 54 6.43% $8,244
UNITED WHOLESALE MORTGAGE, LLC 49 6.31% $10,259
PRIMELENDING, A PLAINSCAPITAL COMPANY 38 6.50% $8,816
CARDINAL FINANCIAL 31 6.25% $9,167
CMG MORTGAGE, INC. 28 5.33% $13,026
CORNERSTONE HOME LENDING, INC. 25 5.82% $8,905
LOANDEPOT.COM, LLC 22 5.94% $9,441
EVERETT FINANCIAL, INC. 20 6.76% $8,061
ARK-LA-TEX FINANCIAL SERVICES, LLC. 20 6.32% $7,204
OPEN MORTGAGE, LLC 19 6.24% $7,692
FLAT BRANCH MORTGAGE, INC. 18 6.51% $6,531
SFMC, LP 16 6.05% $14,198
Nations Lending Corporation 16 6.59% $5,926
PLAZA HOME MORTGAGE, INC. 16 5.93% $10,633
AMCAP MORTGAGE, LTD. 15 6.58% $9,565
MORTGAGE FINANCIAL SERVICES, LLC 13 6.41% $6,634
DRAPER AND KRAMER MORTGAGE CORP. 13 6.68% $9,082
THRIVE MORTGAGE, LLC 11 6.36% $8,769
T2 FINANCIAL LLC 11 6.66% $7,196
Flagstar Bank, FSB 11 6.54% $7,837
Republic State Mortgage Co. 10 6.13% $7,357
KBHS HOME LOANS, LLC 9 5.93% $12,889
UNION HOME MORTGAGE CORP. 9 6.57% $11,154
SWBC MORTGAGE CORPORATION 9 6.17% $5,175
CROSSCOUNTRY MORTGAGE, LLC 9 6.58% $9,754
Equity Prime Mortgage LLC 9 6.82% $7,226
Paramount Residential Mortgage Group, Inc. 9 6.46% $9,842
NEWREZ LLC 9 6.92% $8,232
MOVEMENT MORTGAGE, LLC 8 6.14% $9,371
Plains Commerce Bank 7 6.14% $10,573
Century Mortgage Company DBA Century Lending Company 7 6.57% $8,967
FBC MORTGAGE, LLC 6 5.71% $8,834
AMERICAN FINANCIAL RESOURCES, INC. 6 6.77% $8,165
Guaranty Bank & Trust, N.A. 6 6.40% $5,924
EUSTIS AND AMERICAN MORTGAGE COMPANY 6 6.73% $6,981
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 6 6.48% $8,143
HOMEBRIDGE FINANCIAL SERVICES, INC. 6 6.00% $11,258
Network Funding, L.P. 6 6.83% $6,462
INTERLINC MORTGAGE SERVICES, LLC 6 6.98% $4,973
PULTE MORTGAGE LLC 5 5.55% $3,695
Wallick & Volk, Inc. 5 6.55% $4,078
SECURITYNATIONAL MORTGAGE COMPANY 4 6.13% $9,520
GUARANTEED RATE, INC. 4 6.30% $9,649
BancorpSouth 4 6.38% $8,272
Gateway First Bank 4 6.75% $5,988
METROPLEX MORTGAGE SERVICES, INC. 4 7.03% $6,816
Bank of England 4 6.53% $12,060
FIRST CENTENNIAL MORTGAGE CORPORATION 4 5.88% $10,035
First United Bank and Trust Company 3 6.33% $9,022
S1L, Inc. 3 5.96% $8,805
CANOPY MORTGAGE, LLC 3 6.92% $12,369
CALCON MUTUAL MORTGAGE LLC 3 6.29% $12,668
Farmers Bank & Trust Company 3 6.25% $11,492
TIB The Independent Bankersbank 3 6.83% $7,137
ACADEMY MORTGAGE CORPORATION 3 6.33% $9,041
Ixonia Bank 3 7.17% $8,573
MID AMERICA MORTGAGE, INC. 3 6.92% $10,714
CHURCHILL MORTGAGE CORPORATION 3 6.75% $13,659
Magnolia Bank 3 6.63% $6,544
Mortgage Research Center, LLC 3 5.50% $6,304
V.I.P. MORTGAGE, INC. 3 5.67% $7,520
LOANPEOPLE, LLC 3 6.83% $9,008
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 6.13% $10,874
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 5.92% $9,419
City Bank 3 6.13% $7,628
AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.17% $11,965
Citizens Bank 3 6.21% $8,210
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 7.00% $7,774
Amarillo National Bank 2 5.63% $5,524
FIRST COMMUNITY MORTGAGE, INC. 2 6.31% $8,972
First Financial Bank 2 6.50% $6,465
GARDNER FINANCIAL SERVICES, LTD. 2 7.19% $10,415
GENEVA FINANCIAL, LLC 2 6.81% $14,473
Goldwater Bank, N.A. 2 6.38% $8,552
HOME FINANCING UNLIMITED, INC. 2 5.50% $9,880
Independent Bank 2 6.69% $5,778
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 2 6.44% $12,209
LEGEND LENDING CORPORATION 2 6.56% $10,604
M/I FINANCIAL, LLC 2 5.69% $15,018
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.44% $7,288
NATIONS RELIABLE LENDING, LLC 2 6.69% $9,582
Neighborhood Loans, Inc. 2 6.00% $11,766
PATRIOT MORTGAGE COMPANY 2 5.94% $15,437
PLANET HOME LENDING, LLC 2 6.38% $7,375
Stride Bank 2 6.88% $10,433
SUCCESS MORTGAGE PARTNERS, INC. 2 6.31% $9,101
SUMMIT FUNDING, INC. 2 6.75% $10,722
Town Square Mortgage & Investments, Inc. 2 6.88% $7,234
UNIVERSITY Federal Credit Union 2 5.94% $7,279
VILLAGE CAPITAL MORTGAGE 2 6.38% $10,237
HOMESTEAD FUNDING CORP. 1 6.75% $5,855
GUARANTY HOME MORTGAGE CORPORATION 1 5.50% $3,570
NFM, INC. 1 8.50% $6,872
NP, Inc. 1 7.13% $8,277
NTFN, INC. 1 5.63% $8,564
FirstTrust Home Loans, Inc. 1 6.13% $10,543
Origin Bank 1 7.49% $5,459
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 7.75% $10,665
First State Bank 1 7.63% $9,473
Affiliated Bank 1 6.25% $8,216
First Option Mortgage, LLC 1 6.63% $6,332
VELOCIO MORTGAGE L.L.C. 1 5.99% $3,344
First National Bank 1 6.25% $5,655
PNC Bank 1 7.75% $4,206
1ST SIGNATURE LENDING, LLC 1 6.13% $11,038
First Federal Bank 1 6.50% $11,757
First American Bank 1 6.63% $5,072
RANLIFE, INC. 1 6.13% $7,610
Red River Bank 1 6.50% $5,530
Regions Bank 1 5.88% $14,272
RELIANCE FIRST CAPITAL, LLC 1 7.63% $4,396
ENVOY MORTGAGE, LTD 1 6.00% $9,535
DSLD MORTGAGE, LLC 1 5.88% $13,302
DIRECTIONS EQUITY, LLC 1 4.99% $5,216
Security State Bank & Trust 1 5.88% $6,287
SENTE MORTGAGE, INC. 1 5.75% $19,779
Cornerstone First Mortgage, Inc 1 7.13% $6,328
Sierra Pacific Mortgage Company, Inc. 1 6.13% $8,527
South Pacific Financial Corporation 1 6.50% $7,986
State Bank of De Kalb 1 6.25% $8,394
VeraBank 1 6.75% $5,379
VERITAS FUNDING, LLC 1 6.13% $9,521
Wells Fargo Bank 1 5.63% $8,008
SUN WEST MORTGAGE COMPANY, INC. 1 5.13% $11,592
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.75% $7,367
Carrington Mortgage Services, LLC 1 7.63% $8,968
THE MORTGAGE LINK, INC. 1 6.13% $13,354
BROKER SOLUTIONS, INC. 1 6.75% $7,109
Bank of Colorado 1 5.63% $9,471
MICHIGAN MUTUAL, INC. 1 7.63% $6,435
TJC Mortgage, Inc. 1 5.50% $13,576
MANN FINANCIAL INC. 1 6.88% $8,142
Loan Simple, Inc. 1 7.13% $15,088
LEADERONE FINANCIAL CORPORATION 1 6.25% $6,713
MOUNTAIN WEST FINANCIAL, INC. 1 6.38% $6,488
Keystone Funding, Inc. 1 6.49% $5,914
AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $7,268
INSPIRE HOME LOANS INC. 1 5.75% $7,372
Assurance Financial Group, L.L.C. 1 6.13% $8,693
NBH Bank 1 6.50% $5,382
AMERICAN FINANCING CORPORATION 1 5.63% $9,507

The top Texas USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 107 USDA loans originated. Their average total fees are $7,968, which is $285 higher than the next largest lender, EAGLE HOME MORTGAGE, LLC.

The lowest fee Texas USDA lenders (with over 10 loans originated) are Nations Lending Corporation ($5,926), FLAT BRANCH MORTGAGE, INC. ($6,531), MORTGAGE FINANCIAL SERVICES, LLC ($6,634), T2 FINANCIAL LLC ($7,196) and ARK-LA-TEX FINANCIAL SERVICES, LLC. ($7,204).

The lowest rate Texas USDA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (4.83%), DHI MORTGAGE COMPANY, LTD. (5.03%), CMG MORTGAGE, INC. (5.33%), CORNERSTONE HOME LENDING, INC. (5.82%) and PLAZA HOME MORTGAGE, INC. (5.93%).