Albemarle USDA Loan Rates, Closing Costs & Stats

Albemarle, NC

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.

Albemarle's 13 lenders originated 21 USDA loans during 2023. The total origination value was $5,215,000, with an average USDA loan value of $248,333.

Albemarle USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Albemarle averaged 6.31% for the week of 2024-05-17, compared to the national average (all USDA variants) of 6.75% for the same period.

Albemarle's average USDA mortgage closing costs are $5,541.

The average rate for the prior week (2024-05-10) was 6.65% and one month ago for the week of 2024-04-12, the average rate was 6.48%.

The average rate one year ago was 6.26%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.95%.

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

Albemarle 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 Albemarle level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
MOVEMENT MORTGAGE, LLC 4 6.25% $10,705
Uwharrie Bank 3 6.42% $6,763
CMG MORTGAGE, INC. 2 5.88% $8,533
CORNERSTONE HOME LENDING, INC. 2 5.63% $12,686
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.69% $8,931
GUARANTEED RATE AFFINITY, LLC 1 7.18% $6,301
Mortgage Research Center, LLC 1 7.25% $7,285
United Bank 1 7.00% $9,018
EQUITY RESOURCES, INC. 1 5.63% $7,597
Ameris Bank 1 5.75% $8,544
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.38% $8,468
CROSSCOUNTRY MORTGAGE, LLC 1 6.88% $12,341
ACADEMY MORTGAGE CORPORATION 1 6.63% $6,886

The top Albemarle USDA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 4 USDA loans originated. Their average total fees are $10,705, which is $3,941 higher than the next largest lender, Uwharrie Bank.

The lowest fee Albemarle USDA lenders (with over 10 loans originated) are .

The lowest rate Albemarle USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Albemarle (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 $249,700 (6.9%) $317,158 (-5.5%) 0.00 250
2018-02-01 $252,038 (2.4%) $323,624 (-9.4%) 0.00 235
2018-03-01 $249,500 (2.6%) $340,211 (-4.9%) 0.00 241
2018-04-01 $273,800 (9.6%) $364,002 (0.7%) 0.00 258
2018-05-01 $275,375 (5.9%) $366,403 (1.5%) 0.00 270
2018-06-01 $261,500 (-6.4%) $368,046 (2.0%) 0.00 281
2018-07-01 $277,475 (-1.8%) $385,101 (6.9%) 0.00 285
2018-08-01 $271,950 (-6.1%) $382,707 (4.0%) 0.00 295
2018-09-01 $265,900 (-4.9%) $374,651 (1.5%) 0.00 312
2018-10-01 $266,300 (-4.9%) $379,381 (3.6%) 0.00 301
2018-11-01 $259,900 (-7.7%) $373,556 (4.7%) 0.00 286
2018-12-01 $252,400 (-2.9%) $375,499 (12.9%) 0.00 264
2019-01-01 $249,900 (0.1%) $371,400 (17.1%) 0.00 248
2019-02-01 $256,950 (2.0%) $372,094 (15.0%) 0.00 249
2019-03-01 $265,757 (6.5%) $385,216 (13.2%) 0.00 262
2019-04-01 $274,850 (0.4%) $390,211 (7.2%) 0.00 285
2019-05-01 $258,075 (-6.3%) $374,687 (2.3%) 0.00 322
2019-06-01 $249,900 (-4.4%) $364,580 (-0.9%) 0.00 309
2019-07-01 $249,900 (-9.9%) $358,536 (-6.9%) 0.00 291
2019-08-01 $246,882 (-9.2%) $344,726 (-9.9%) 0.00 288
2019-09-01 $242,955 (-8.6%) $333,412 (-11.0%) 0.00 294
2019-10-01 $240,361 (-9.7%) $327,004 (-13.8%) 0.00 287
2019-11-01 $249,900 (-3.9%) $338,350 (-9.4%) 0.00 264
2019-12-01 $262,223 (3.9%) $359,826 (-4.2%) 0.00 237
2020-01-01 $261,928 (4.8%) $365,732 (-1.5%) 0.00 201
2020-02-01 $253,750 (-1.3%) $361,941 (-2.7%) 0.00 209
2020-03-01 $256,200 (-3.6%) $371,032 (-3.7%) 0.00 221
2020-04-01 $252,400 (-8.2%) $366,785 (-6.0%) 0.00 220
2020-05-01 $259,900 (0.7%) $390,782 (4.3%) 0.00 191
2020-06-01 $254,950 (2.0%) $388,177 (6.5%) 0.00 170
2020-07-01 $254,950 (2.0%) $394,569 (10.1%) 0.00 155
2020-08-01 $249,950 (1.2%) $402,941 (16.9%) 0.00 142
2020-09-01 $239,625 (-1.4%) $380,545 (14.1%) 0.00 141
2020-10-01 $250,000 (4.0%) $385,612 (17.9%) 0.00 133
2020-11-01 $238,725 (-4.5%) $387,290 (14.5%) 0.00 127
2020-12-01 $230,375 (-12.2%) $390,798 (8.6%) 0.00 119
2021-01-01 $217,500 (-17.0%) $382,084 (4.5%) 0.00 104
2021-02-01 $214,975 (-15.3%) $388,759 (7.4%) 0.00 93
2021-03-01 $251,175 (-2.0%) $389,505 (5.0%) 0.00 84
2021-04-01 $259,500 (2.8%) $423,550 (15.5%) 0.00 78
2021-05-01 $269,000 (3.5%) $418,557 (7.1%) 0.00 94
2021-06-01 $293,975 (15.3%) $418,169 (7.7%) 0.00 112
2021-07-01 $299,900 (17.6%) $428,220 (8.5%) 0.00 106
2021-08-01 $269,950 (8.0%) $386,590 (-4.1%) 0.00 128
2021-09-01 $276,725 (15.5%) $377,211 (-0.9%) 0.00 122
2021-10-01 $269,900 (8.0%) $350,170 (-9.2%) 0.00 108
2021-11-01 $260,000 (8.9%) $353,111 (-8.8%) 0.00 90
2021-12-01 $263,650 (14.4%) $332,485 (-14.9%) 0.00 96
2022-01-01 $329,000 (51.3%) $365,557 (-4.3%) 0.00 80
2022-02-01 $312,425 (45.3%) $360,140 (-7.4%) 0.00 62
2022-03-01 $284,231 (13.2%) $344,032 (-11.7%) 0.00 67
2022-04-01 $296,900 (14.4%) $382,191 (-9.8%) 0.00 71
2022-05-01 $348,848 (29.7%) $442,774 (5.8%) 0.00 87
2022-06-01 $348,200 (18.5%) $423,458 (1.3%) 0.00 96
2022-07-01 $329,900 (10.0%) $410,634 (-4.1%) 0.00 127
2022-08-01 $314,700 (16.6%) $405,905 (5.0%) 0.00 146
2022-09-01 $301,175 (8.8%) $364,699 (-3.3%) 0.00 190
2022-10-01 $319,950 (18.5%) $389,635 (11.3%) 0.00 203
2022-11-01 $322,850 (24.2%) $370,480 (4.9%) 0.00 217
2022-12-01 $302,500 (14.7%) $348,402 (4.8%) 0.00 195
2023-01-01 $304,500 (-7.5%) $348,891 (-4.6%) 0.00 195
2023-02-01 $330,750 (5.9%) $402,976 (11.9%) 0.00 169
2023-03-01 $329,950 (16.1%) $440,005 (27.9%) 0.00 165
2023-04-01 $329,900 (11.1%) $437,923 (14.6%) 0.00 152
2023-05-01 $332,000 (-4.8%) $460,610 (4.0%) 0.00 138
2023-06-01 $329,900 (-5.3%) $444,581 (5.0%) 0.00 155
2023-07-01 $339,100 (2.8%) $455,675 (11.0%) 0.00 164
2023-08-01 $347,225 (10.3%) $461,942 (13.8%) 0.00 160
2023-09-01 $339,900 (12.9%) $458,547 (25.7%) 0.00 157
2023-10-01 $357,963 (11.9%) $463,681 (19.0%) 0.00 168
2023-11-01 $326,860 (1.2%) $449,055 (21.2%) 0.00 174
2023-12-01 $325,000 (7.4%) $454,878 (30.6%) 0.00 175
2024-01-01 $329,675 (8.3%) $448,950 (28.7%) 0.00 175
2024-02-01 $340,350 (2.9%) $480,827 (19.3%) 0.00 162
2024-03-01 $350,000 (6.1%) $457,539 (4.0%) 0.00 164
2024-04-01 $360,875 (9.4%) $462,667 (5.7%) 0.00 158
Albemarle's median listing price for 2024-04-01 was $360,875, a difference of $30,975 (9.4%) versus the prior year and $10,875 versus the prior month.

Albemarle's median listing price comes in at 0% of the national average.

Albemarle's average listing price for 2024-04-01 was $462,667, a difference of $24,744 (5.7%) versus the prior year and $5,128 versus the prior month.

For the 2024-04-01 period, Albemarle had 158 MLS listings, a difference of -6 listings (-4%) versus the prior month and 6 listings (4%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Albemarle (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,947 sqft
2018-02-01 0 days 1,977 sqft
2018-03-01 0 days 1,953 sqft
2018-04-01 0 days 2,045 sqft
2018-05-01 0 days 2,019 sqft
2018-06-01 0 days 1,999 sqft
2018-07-01 0 days 1,999 sqft
2018-08-01 0 days 1,955 sqft
2018-09-01 0 days 1,824 sqft
2018-10-01 0 days 1,831 sqft
2018-11-01 0 days 1,840 sqft
2018-12-01 0 days 1,885 sqft
2019-01-01 0 days 1,811 sqft
2019-02-01 0 days 1,810 sqft
2019-03-01 0 days 1,827 sqft
2019-04-01 0 days 1,828 sqft
2019-05-01 0 days 1,826 sqft
2019-06-01 0 days 2,007 sqft
2019-07-01 0 days 2,009 sqft
2019-08-01 0 days 1,983 sqft
2019-09-01 0 days 1,995 sqft
2019-10-01 0 days 2,005 sqft
2019-11-01 0 days 1,905 sqft
2019-12-01 0 days 1,995 sqft
2020-01-01 0 days 1,981 sqft
2020-02-01 0 days 1,863 sqft
2020-03-01 0 days 1,824 sqft
2020-04-01 0 days 1,813 sqft
2020-05-01 0 days 1,845 sqft
2020-06-01 0 days 1,840 sqft
2020-07-01 0 days 1,913 sqft
2020-08-01 0 days 1,887 sqft
2020-09-01 0 days 1,796 sqft
2020-10-01 0 days 1,946 sqft
2020-11-01 0 days 1,838 sqft
2020-12-01 0 days 1,757 sqft
2021-01-01 0 days 1,732 sqft
2021-02-01 0 days 1,670 sqft
2021-03-01 0 days 1,669 sqft
2021-04-01 0 days 1,717 sqft
2021-05-01 0 days 1,813 sqft
2021-06-01 0 days 1,773 sqft
2021-07-01 0 days 1,772 sqft
2021-08-01 0 days 1,614 sqft
2021-09-01 0 days 1,700 sqft
2021-10-01 0 days 1,698 sqft
2021-11-01 0 days 1,677 sqft
2021-12-01 0 days 1,587 sqft
2022-01-01 0 days 1,729 sqft
2022-02-01 0 days 1,715 sqft
2022-03-01 0 days 1,669 sqft
2022-04-01 0 days 1,676 sqft
2022-05-01 0 days 1,782 sqft
2022-06-01 0 days 1,698 sqft
2022-07-01 0 days 1,670 sqft
2022-08-01 0 days 1,614 sqft
2022-09-01 0 days 1,588 sqft
2022-10-01 0 days 1,669 sqft
2022-11-01 0 days 1,629 sqft
2022-12-01 0 days 1,548 sqft
2023-01-01 0 days 1,538 sqft
2023-02-01 0 days 1,653 sqft
2023-03-01 0 days 1,631 sqft
2023-04-01 0 days 1,586 sqft
2023-05-01 0 days 1,710 sqft
2023-06-01 0 days 1,648 sqft
2023-07-01 0 days 1,736 sqft
2023-08-01 0 days 1,690 sqft
2023-09-01 0 days 1,662 sqft
2023-10-01 0 days 1,733 sqft
2023-11-01 0 days 1,621 sqft
2023-12-01 0 days 1,602 sqft
2024-01-01 0 days 1,603 sqft
2024-02-01 0 days 1,630 sqft
2024-03-01 0 days 1,622 sqft
2024-04-01 0 days 1,671 sqft
Albemarle's median listing age (time on market) for 2024-04-01 was 0 days.

Albemarle's median square footage for active listings during the 2024-04-01 period was 1,671 sqft. One year prior, the average listing was 1,586 sqft.