Asheville USDA Loans
ASHEVILLE, 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.
Asheville's 43 lenders originated 187 USDA loans during 2021. The total origination value was $45,745,000, with an average USDA loan value of $244,626.
Asheville USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Asheville
averaged
5.52%
for the week of 2022-05-20, compared to the national average (all USDA variants) of
5.315% for the same period.
The average rate for the prior week (2022-05-13) was
5.2% and
one month ago for the week of 2022-04-15, the
average rate was 5.2%.
The average rate one year ago was 3.04%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.25%.
Asheville USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Asheville level.
The top Asheville USDA lender as defined by loan originations is GoPrime Mortgage, Inc., with
40 USDA loans originated. Their average total fees are
$7,102, which is $1,226
higher than the next largest lender,
MOVEMENT MORTGAGE, LLC.
The lowest fee Asheville USDA lenders (with over 10 loans originated) are
MOVEMENT MORTGAGE, LLC ($5,876), HomeTrust Bank ($6,017), GoPrime Mortgage, Inc. ($7,102), .
The lowest rate Asheville USDA lenders (with over 10 loans originated) are
HomeTrust Bank (2.53%), MOVEMENT MORTGAGE, LLC (2.69%), GoPrime Mortgage, Inc. (3.03%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Asheville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $361,950 (3.4%) | $518,865 (-0.6%) | 1.33 | 3,490 |
2018-02-01 | $350,000 (-3.7%) | $497,894 (-6.5%) | 1.26 | 2,397 |
2018-03-01 | $357,000 (-1.9%) | $501,705 (-5.7%) | 1.24 | 2,443 |
2018-04-01 | $358,950 (-3.0%) | $498,384 (-6.3%) | 1.20 | 2,568 |
2018-05-01 | $366,950 (-2.5%) | $497,446 (-7.8%) | 1.22 | 2,669 |
2018-06-01 | $388,000 (2.2%) | $533,582 (-0.3%) | 1.29 | 2,595 |
2018-07-01 | $389,250 (3.0%) | $528,386 (-0.8%) | 1.30 | 2,701 |
2018-08-01 | $389,000 (2.4%) | $521,152 (-3.9%) | 1.30 | 2,805 |
2018-09-01 | $384,900 (1.3%) | $521,123 (-4.0%) | 1.29 | 2,916 |
2018-10-01 | $379,900 (0.8%) | $517,009 (-4.7%) | 1.27 | 3,005 |
2018-11-01 | $379,000 (-0.2%) | $513,652 (-4.9%) | 1.27 | 2,888 |
2018-12-01 | $375,000 (-1.1%) | $513,931 (-4.6%) | 1.28 | 2,672 |
2019-01-01 | $379,450 (4.8%) | $522,483 (0.7%) | 1.31 | 2,367 |
2019-02-01 | $377,450 (7.8%) | $525,238 (5.5%) | 1.26 | 2,273 |
2019-03-01 | $385,857 (8.1%) | $535,638 (6.8%) | 1.26 | 2,361 |
2019-04-01 | $397,000 (10.6%) | $550,200 (10.4%) | 1.25 | 2,484 |
2019-05-01 | $399,999 (9.0%) | $561,242 (12.8%) | 1.23 | 2,606 |
2019-06-01 | $399,500 (3.0%) | $559,290 (4.8%) | 1.23 | 2,806 |
2019-07-01 | $399,000 (2.5%) | $552,334 (4.5%) | 1.24 | 2,822 |
2019-08-01 | $399,514 (2.7%) | $553,592 (6.2%) | 1.26 | 2,807 |
2019-09-01 | $399,000 (3.7%) | $550,664 (5.7%) | 1.27 | 2,786 |
2019-10-01 | $399,250 (5.1%) | $548,554 (6.1%) | 1.27 | 2,885 |
2019-11-01 | $399,000 (5.3%) | $549,365 (7.0%) | 1.29 | 2,704 |
2019-12-01 | $399,000 (6.4%) | $547,833 (6.6%) | 1.33 | 2,388 |
2020-01-01 | $399,868 (5.4%) | $559,747 (7.1%) | 1.33 | 2,081 |
2020-02-01 | $403,900 (7.0%) | $561,832 (7.0%) | 1.30 | 1,881 |
2020-03-01 | $407,762 (5.7%) | $566,517 (5.8%) | 1.27 | 1,918 |
2020-04-01 | $399,700 (0.7%) | $554,593 (0.8%) | 1.25 | 2,075 |
2020-05-01 | $420,000 (5.0%) | $576,998 (2.8%) | 1.27 | 2,072 |
2020-06-01 | $427,000 (6.9%) | $596,025 (6.6%) | 1.25 | 2,000 |
2020-07-01 | $429,450 (7.6%) | $604,750 (9.5%) | 1.23 | 1,906 |
2020-08-01 | $429,000 (7.4%) | $614,339 (11.0%) | 1.23 | 1,709 |
2020-09-01 | $444,500 (11.4%) | $649,970 (18.0%) | 1.27 | 1,614 |
2020-10-01 | $449,900 (12.7%) | $659,890 (20.3%) | 1.29 | 1,592 |
2020-11-01 | $453,500 (13.7%) | $671,719 (22.3%) | 1.30 | 1,459 |
2020-12-01 | $467,000 (17.0%) | $685,040 (25.1%) | 1.37 | 1,313 |
2021-01-01 | $463,000 (15.8%) | $690,394 (23.3%) | 1.36 | 1,096 |
2021-02-01 | $449,500 (11.3%) | $686,681 (22.2%) | 1.29 | 937 |
2021-03-01 | $457,500 (12.2%) | $696,715 (23.0%) | 1.28 | 825 |
2021-04-01 | $467,750 (17.0%) | $717,828 (29.4%) | 1.26 | 850 |
2021-05-01 | $480,000 (14.3%) | $731,972 (26.9%) | 1.26 | 872 |
2021-06-01 | $475,000 (11.2%) | $712,249 (19.5%) | 1.23 | 1,095 |
2021-07-01 | $457,005 (6.4%) | $691,270 (14.3%) | 1.19 | 1,197 |
2021-08-01 | $449,950 (4.9%) | $694,250 (13.0%) | 1.18 | 1,234 |
2021-09-01 | $458,505 (3.2%) | $720,786 (10.9%) | 1.21 | 1,204 |
2021-10-01 | $469,000 (4.3%) | $729,536 (10.6%) | 1.23 | 1,160 |
2021-11-01 | $471,210 (3.9%) | $740,594 (10.3%) | 1.24 | 1,017 |
2021-12-01 | $479,985 (2.8%) | $771,661 (12.6%) | 1.28 | 877 |
2022-01-01 | $499,900 (8.0%) | $841,176 (21.8%) | 1.33 | 679 |
2022-02-01 | $542,400 (20.7%) | $923,648 (34.5%) | 1.38 | 550 |
2022-03-01 | $565,000 (23.5%) | $945,259 (35.7%) | 1.40 | 520 |
2022-04-01 | $559,900 (19.7%) | $900,177 (25.4%) | 1.32 | 614 |
Asheville's median listing price comes in at 132% of the national average.
Asheville's average listing price for 2022-04-01 was $900,177, a difference of $182,349 (25.4%) versus the prior year and $-45,082 versus the prior month.
For the 2022-04-01 period, Asheville had 614 MLS listings, a difference of 94 listings (18%) versus the prior month and -236 listings (-28%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Asheville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 75 days | 2,212 sqft |
2018-02-01 | 57 days | 2,196 sqft |
2018-03-01 | 72 days | 2,151 sqft |
2018-04-01 | 98 days | 2,154 sqft |
2018-05-01 | 92 days | 2,166 sqft |
2018-06-01 | 76 days | 2,164 sqft |
2018-07-01 | 76 days | 2,200 sqft |
2018-08-01 | 80 days | 2,194 sqft |
2018-09-01 | 84 days | 2,182 sqft |
2018-10-01 | 88 days | 2,150 sqft |
2018-11-01 | 91 days | 2,128 sqft |
2018-12-01 | 106 days | 2,104 sqft |
2019-01-01 | 123 days | 2,094 sqft |
2019-02-01 | 129 days | 2,078 sqft |
2019-03-01 | 123 days | 2,129 sqft |
2019-04-01 | 79 days | 2,182 sqft |
2019-05-01 | 71 days | 2,231 sqft |
2019-06-01 | 70 days | 2,225 sqft |
2019-07-01 | 74 days | 2,213 sqft |
2019-08-01 | 83 days | 2,191 sqft |
2019-09-01 | 86 days | 2,174 sqft |
2019-10-01 | 89 days | 2,163 sqft |
2019-11-01 | 92 days | 2,144 sqft |
2019-12-01 | 99 days | 2,133 sqft |
2020-01-01 | 113 days | 2,132 sqft |
2020-02-01 | 119 days | 2,125 sqft |
2020-03-01 | 111 days | 2,119 sqft |
2020-04-01 | 88 days | 2,081 sqft |
2020-05-01 | 88 days | 2,149 sqft |
2020-06-01 | 90 days | 2,176 sqft |
2020-07-01 | 78 days | 2,204 sqft |
2020-08-01 | 77 days | 2,180 sqft |
2020-09-01 | 75 days | 2,214 sqft |
2020-10-01 | 70 days | 2,176 sqft |
2020-11-01 | 72 days | 2,144 sqft |
2020-12-01 | 81 days | 2,109 sqft |
2021-01-01 | 92 days | 2,048 sqft |
2021-02-01 | 97 days | 1,981 sqft |
2021-03-01 | 79 days | 1,941 sqft |
2021-04-01 | 55 days | 1,934 sqft |
2021-05-01 | 45 days | 1,991 sqft |
2021-06-01 | 40 days | 1,945 sqft |
2021-07-01 | 44 days | 1,923 sqft |
2021-08-01 | 52 days | 1,874 sqft |
2021-09-01 | 57 days | 1,903 sqft |
2021-10-01 | 59 days | 1,931 sqft |
2021-11-01 | 63 days | 1,911 sqft |
2021-12-01 | 75 days | 1,928 sqft |
2022-01-01 | 85 days | 1,944 sqft |
2022-02-01 | 88 days | 1,942 sqft |
2022-03-01 | 67 days | 2,039 sqft |
2022-04-01 | 37 days | 2,010 sqft |
Asheville's median square footage for active listings during the 2022-04-01 period was 2,010 sqft. One year prior, the average listing was 1,934 sqft.