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
6.52%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Albemarle's average USDA mortgage closing costs are $5,541.
The average rate for the prior week (2024-04-12) was
6.28% and
one month ago for the week of 2024-03-15, the
average rate was 6.36%.
The average rate one year ago was 5.8%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.96%.
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 |
Albemarle's median listing price comes in at 0% of the national average.
Albemarle's average listing price for 2024-03-01 was $457,539, a difference of $17,534 (4.0%) versus the prior year and $-23,288 versus the prior month.
For the 2024-03-01 period, Albemarle had 164 MLS listings, a difference of 2 listings (1%) versus the prior month and -1 listings (-1%) 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 | 1,623 sqft |
Albemarle's median square footage for active listings during the 2024-03-01 period was 1,623 sqft. One year prior, the average listing was 1,631 sqft.