Albemarle USDA Loan Rates, Closing Costs & Stats

Albemarle, NC

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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.

    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 6.06% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

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

    The average rate for the prior week (2024-12-06) was 5.9% and one month ago for the week of 2024-11-08, the average rate was 6.32%.

    The average rate one year ago was 6.48%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.2%.

    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
    2024-05-01 $374,575 (12.8%) $481,596 (4.6%) 0.00 167
    2024-06-01 $354,500 (7.5%) $475,272 (6.9%) 0.00 177
    2024-07-01 $351,225 (3.6%) $459,731 (0.9%) 0.00 203
    2024-08-01 $351,450 (1.2%) $443,326 (-4.0%) 0.00 198
    2024-09-01 $350,000 (3.0%) $426,749 (-6.9%) 0.00 207
    2024-10-01 $349,950 (-2.2%) $424,042 (-8.6%) 0.00 215
    2024-11-01 $337,950 (3.4%) $423,072 (-5.8%) 0.00 225
    Albemarle's median listing price for 2024-11-01 was $337,950, a difference of $11,090 (3.4%) versus the prior year and $-12,000 versus the prior month.

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

    Albemarle's average listing price for 2024-11-01 was $423,072, a difference of $-25,983 (-5.8%) versus the prior year and $-970 versus the prior month.

    For the 2024-11-01 period, Albemarle had 225 MLS listings, a difference of 10 listings (5%) versus the prior month and 51 listings (29%) 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
    2024-05-01 0 days 1,776 sqft
    2024-06-01 0 days 1,789 sqft
    2024-07-01 0 days 1,781 sqft
    2024-08-01 0 days 1,790 sqft
    2024-09-01 0 days 1,757 sqft
    2024-10-01 0 days 1,728 sqft
    2024-11-01 0 days 1,701 sqft
    Albemarle's median listing age (time on market) for 2024-11-01 was 0 days.

    Albemarle's median square footage for active listings during the 2024-11-01 period was 1,701 sqft. One year prior, the average listing was 1,621 sqft.