Asheville USDA Loan Rates, Closing Costs & Stats

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 28 lenders originated 51 USDA loans during 2022. The total origination value was $12,315,000, with an average USDA loan value of $241,471.

Asheville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Asheville averaged 5.91% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

Asheville's average USDA mortgage closing costs are $5,874.

The average rate for the prior week (2023-05-19) was 5.86% and one month ago for the week of 2023-04-21, the average rate was 5.66%.

The average rate one year ago was 4.58%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.02%.

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

Asheville 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 Asheville level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
GoPrime Mortgage, Inc. 7 4.04% $7,722
MOVEMENT MORTGAGE, LLC 5 4.45% $9,418
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 4 4.94% $9,694
HOMESTAR FINANCIAL CORPORATION 4 3.97% $5,320
HomeTrust Bank 3 4.42% $6,354
First-Citizens Bank & Trust Company 2 5.38% $6,081
Truist 2 3.88% $6,082
CARDINAL FINANCIAL 2 3.94% $9,708
First Bank 1 4.62% $5,694
Flagstar Bank, FSB 1 3.25% $5,357
GUARANTEED RATE, INC. 1 5.00% $10,955
GUARANTY HOME MORTGAGE CORPORATION 1 5.25% $11,101
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 3.50% $6,236
KELLER MORTGAGE, LLC 1 4.00% $6,675
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.63% $10,297
SeaTrust Mortgage Company 1 2.88% $7,827
Sierra Pacific Mortgage Company, Inc. 1 5.63% $12,471
UNION HOME MORTGAGE CORP. 1 5.25% $9,592
United Community Bank 1 3.13% $6,277
ACOPIA, LLC 1 5.50% $8,693
VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.50% $10,254
Alcova Mortgage LLC 1 5.00% $2,192
ALLIED MORTGAGE GROUP, INC. 1 5.38% $6,965
American Security Mortgage Corp. 1 6.88% $5,934
AMERIFIRST FINANCIAL CORPORATION 1 5.13% $13,445
BAY EQUITY LLC 1 2.99% $8,529
CALIBER HOME LOANS, INC. 1 6.63% $8,617
CHURCHILL MORTGAGE CORPORATION 1 2.75% $8,726

The top Asheville USDA lender as defined by loan originations is GoPrime Mortgage, Inc., with 7 USDA loans originated. Their average total fees are $7,722, which is $1,697 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Asheville (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 $349,950 (0.1%) $496,019 (-3.7%) 1.30 2,439
2018-02-01 $349,963 (-3.1%) $492,032 (-6.4%) 1.27 2,387
2018-03-01 $354,900 (-2.6%) $497,845 (-5.4%) 1.25 2,439
2018-04-01 $358,925 (-3.0%) $495,286 (-5.9%) 1.22 2,572
2018-05-01 $364,225 (-3.3%) $494,421 (-7.3%) 1.22 2,668
2018-06-01 $385,000 (1.3%) $530,377 (0.2%) 1.28 2,593
2018-07-01 $387,000 (2.1%) $524,077 (-0.6%) 1.29 2,676
2018-08-01 $385,000 (0.7%) $519,027 (-3.3%) 1.29 2,773
2018-09-01 $380,950 (0.5%) $518,694 (-3.5%) 1.28 2,882
2018-10-01 $377,200 (0.2%) $514,303 (-4.0%) 1.28 2,978
2018-11-01 $375,000 (-1.2%) $510,954 (-4.2%) 1.27 2,869
2018-12-01 $375,000 (-1.1%) $511,713 (-4.2%) 1.29 2,651
2019-01-01 $379,000 (8.3%) $519,356 (4.7%) 1.31 2,356
2019-02-01 $375,000 (7.2%) $522,183 (6.1%) 1.27 2,256
2019-03-01 $385,000 (8.5%) $537,451 (8.0%) 1.28 2,327
2019-04-01 $396,525 (10.5%) $549,276 (10.9%) 1.26 2,461
2019-05-01 $399,925 (9.8%) $558,910 (13.0%) 1.25 2,595
2019-06-01 $399,500 (3.8%) $559,076 (5.4%) 1.25 2,771
2019-07-01 $399,000 (3.1%) $551,524 (5.2%) 1.25 2,766
2019-08-01 $399,900 (3.9%) $560,627 (8.0%) 1.25 2,789
2019-09-01 $399,900 (5.0%) $560,957 (8.2%) 1.26 2,648
2019-10-01 $399,000 (5.8%) $547,055 (6.4%) 1.29 2,821
2019-11-01 $399,000 (6.4%) $549,650 (7.6%) 1.31 2,637
2019-12-01 $398,950 (6.4%) $548,845 (7.3%) 1.33 2,314
2020-01-01 $399,373 (5.4%) $560,534 (7.9%) 1.33 2,015
2020-02-01 $400,000 (6.7%) $562,601 (7.7%) 1.31 1,843
2020-03-01 $403,656 (4.9%) $567,123 (5.5%) 1.27 1,870
2020-04-01 $399,450 (0.7%) $555,177 (1.1%) 1.25 2,022
2020-05-01 $419,900 (5.0%) $578,288 (3.5%) 1.28 2,015
2020-06-01 $427,000 (6.9%) $596,811 (6.8%) 1.26 1,958
2020-07-01 $427,000 (7.0%) $606,243 (9.9%) 1.24 1,858
2020-08-01 $429,000 (7.3%) $614,891 (9.7%) 1.23 1,687
2020-09-01 $442,500 (10.7%) $648,982 (15.7%) 1.27 1,586
2020-10-01 $449,250 (12.6%) $658,355 (20.4%) 1.29 1,556
2020-11-01 $455,250 (14.1%) $670,739 (22.0%) 1.33 1,424
2020-12-01 $469,225 (17.6%) $689,344 (25.6%) 1.40 1,277
2021-01-01 $463,000 (15.9%) $693,720 (23.8%) 1.38 1,062
2021-02-01 $449,475 (12.4%) $689,485 (22.6%) 1.31 911
2021-03-01 $457,500 (13.3%) $697,415 (23.0%) 1.30 818
2021-04-01 $464,950 (16.4%) $718,269 (29.4%) 1.26 843
2021-05-01 $479,000 (14.1%) $737,198 (27.5%) 1.27 861
2021-06-01 $472,450 (10.6%) $713,240 (19.5%) 1.24 1,092
2021-07-01 $454,385 (6.4%) $689,197 (13.7%) 1.20 1,204
2021-08-01 $448,675 (4.6%) $690,368 (12.3%) 1.20 1,225
2021-09-01 $456,503 (3.2%) $715,651 (10.3%) 1.22 1,201
2021-10-01 $469,950 (4.6%) $729,265 (10.8%) 1.25 1,157
2021-11-01 $472,250 (3.7%) $743,062 (10.8%) 1.26 1,010
2021-12-01 $479,855 (2.3%) $770,865 (11.8%) 1.30 867
2022-01-01 $499,450 (7.9%) $827,928 (19.4%) 1.35 678
2022-02-01 $537,063 (19.5%) $909,748 (32.0%) 1.40 539
2022-03-01 $553,453 (21.0%) $918,572 (31.7%) 1.39 517
2022-04-01 $550,000 (18.3%) $883,704 (23.0%) 1.31 600
2022-05-01 $567,450 (18.5%) $862,329 (17.0%) 1.30 817
2022-06-01 $560,000 (18.5%) $825,831 (15.8%) 1.25 961
2022-07-01 $530,000 (16.6%) $789,158 (14.5%) 1.20 1,137
2022-08-01 $521,000 (16.1%) $762,004 (10.4%) 1.20 1,154
2022-09-01 $524,950 (15.0%) $774,660 (8.3%) 1.23 1,186
2022-10-01 $529,000 (12.6%) $793,875 (8.9%) 1.24 1,292
2022-11-01 $536,000 (13.5%) $798,622 (7.5%) 1.29 1,230
2022-12-01 $540,000 (12.5%) $798,224 (3.6%) 1.33 1,096
2023-01-01 $531,200 (6.4%) $799,075 (-3.5%) 1.31 959
2023-02-01 $579,500 (7.9%) $834,441 (-8.3%) 1.40 820
2023-03-01 $577,000 (4.3%) $841,026 (-8.4%) 1.36 837
2023-04-01 $594,500 (8.1%) $854,771 (-3.3%) 1.38 925
Asheville's median listing price for 2023-04-01 was $594,500, a difference of $44,500 (8.1%) versus the prior year and $17,500 versus the prior month.

Asheville's median listing price comes in at 138% of the national average.

Asheville's average listing price for 2023-04-01 was $854,771, a difference of $-28,933 (-3.3%) versus the prior year and $13,745 versus the prior month.

For the 2023-04-01 period, Asheville had 925 MLS listings, a difference of 88 listings (11%) versus the prior month and 325 listings (54%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Asheville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 137 days 2,227 sqft
2018-02-01 57 days 2,195 sqft
2018-03-01 72 days 2,155 sqft
2018-04-01 99 days 2,158 sqft
2018-05-01 90 days 2,163 sqft
2018-06-01 73 days 2,160 sqft
2018-07-01 74 days 2,187 sqft
2018-08-01 80 days 2,185 sqft
2018-09-01 85 days 2,172 sqft
2018-10-01 88 days 2,131 sqft
2018-11-01 91 days 2,114 sqft
2018-12-01 106 days 2,089 sqft
2019-01-01 122 days 2,080 sqft
2019-02-01 128 days 2,063 sqft
2019-03-01 121 days 2,120 sqft
2019-04-01 76 days 2,170 sqft
2019-05-01 71 days 2,215 sqft
2019-06-01 68 days 2,217 sqft
2019-07-01 74 days 2,211 sqft
2019-08-01 87 days 2,213 sqft
2019-09-01 93 days 2,200 sqft
2019-10-01 89 days 2,157 sqft
2019-11-01 92 days 2,144 sqft
2019-12-01 100 days 2,130 sqft
2020-01-01 115 days 2,129 sqft
2020-02-01 117 days 2,113 sqft
2020-03-01 109 days 2,111 sqft
2020-04-01 86 days 2,078 sqft
2020-05-01 87 days 2,149 sqft
2020-06-01 87 days 2,171 sqft
2020-07-01 73 days 2,204 sqft
2020-08-01 72 days 2,181 sqft
2020-09-01 72 days 2,211 sqft
2020-10-01 67 days 2,176 sqft
2020-11-01 72 days 2,139 sqft
2020-12-01 79 days 2,109 sqft
2021-01-01 91 days 2,055 sqft
2021-02-01 92 days 1,989 sqft
2021-03-01 71 days 1,940 sqft
2021-04-01 51 days 1,929 sqft
2021-05-01 42 days 1,992 sqft
2021-06-01 37 days 1,940 sqft
2021-07-01 44 days 1,905 sqft
2021-08-01 51 days 1,871 sqft
2021-09-01 54 days 1,903 sqft
2021-10-01 57 days 1,939 sqft
2021-11-01 61 days 1,918 sqft
2021-12-01 73 days 1,928 sqft
2022-01-01 82 days 1,937 sqft
2022-02-01 84 days 1,931 sqft
2022-03-01 58 days 2,020 sqft
2022-04-01 35 days 2,003 sqft
2022-05-01 32 days 2,074 sqft
2022-06-01 36 days 2,052 sqft
2022-07-01 38 days 2,015 sqft
2022-08-01 47 days 2,021 sqft
2022-09-01 51 days 1,989 sqft
2022-10-01 51 days 2,044 sqft
2022-11-01 58 days 2,065 sqft
2022-12-01 72 days 2,056 sqft
2023-01-01 86 days 1,975 sqft
2023-02-01 88 days 2,033 sqft
2023-03-01 63 days 2,029 sqft
2023-04-01 50 days 2,043 sqft
Asheville's median listing age (time on market) for 2023-04-01 was 50 days. This is 43% longer than the same period one year ago.

Asheville's median square footage for active listings during the 2023-04-01 period was 2,043 sqft. One year prior, the average listing was 2,003 sqft.