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 5.88% for the week of 2022-09-23, compared to the national average (all USDA variants) of 6.08% for the same period.

The average rate for the prior week (2022-09-16) was 6.01% and one month ago for the week of 2022-08-19, the average rate was 5.6%.

The average rate one year ago was 2.93%.

For refis of the same type during the week of 2022-09-23, the average rate was 6.11%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Asheville level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
GoPrime Mortgage, Inc. 40 3.03% $7,102
MOVEMENT MORTGAGE, LLC 21 2.69% $5,876
HomeTrust Bank 13 2.53% $6,017
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 9 2.86% $6,392
Alcova Mortgage LLC 9 2.85% $4,694
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 7 3.50% $6,153
UNION HOME MORTGAGE CORP. 7 2.66% $5,979
Flagstar Bank, FSB 6 2.56% $5,972
First Bank 6 2.23% $6,667
American Security Mortgage Corp. 5 2.55% $7,093
Citizens Bank 4 2.56% $5,354
GUARANTEED RATE, INC. 4 2.69% $6,473
First-Citizens Bank & Trust Company 4 2.44% $5,502
HOME POINT FINANCIAL CORPORATION 3 2.67% $6,596
CALIBER HOME LOANS, INC. 3 2.83% $7,306
BAY EQUITY LLC 3 2.96% $6,900
United Community Bank 3 3.00% $5,074
First Guaranty Mortgage Corporation 3 2.79% $10,003
SeaTrust Mortgage Company 3 3.04% $6,407
Colten Mortgage, LLC 3 2.54% $5,054
ACOPIA, LLC 2 2.69% $6,867
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 2.88% $6,346
KELLER MORTGAGE, LLC 2 2.75% $5,032
Truist 2 2.38% $6,457
UNITED 2 2.69% $6,178
UNITED WHOLESALE MORTGAGE, LLC 2 2.89% $7,401
Wells Fargo Bank 1 3.75% $898
Magnolia Bank 1 2.88% $6,735
Carrington Mortgage Services, LLC 1 2.75% $3,566
NP, Inc. 1 2.88% $6,126
RADIUS FINANCIAL GROUP INC. 1 2.75% $4,167
RESIDENTIAL MORTGAGE SERVICES, INC. 1 2.25% $7,833
RESOURCE FINANCIAL SERVICES, INC. 1 2.25% $6,791
AMERIFIRST FINANCIAL CORPORATION 1 3.50% $5,950
Shamrock Home Loans, Inc. 1 2.88% $5,105
SOUTHERN TRUST MORTGAGE, LLC 1 2.38% $5,472
TOWNE MORTGAGE COMPANY 1 2.75% $6,929
Alpha Mortgage Corporation 1 2.75% $5,229
AMERICAN FINANCING CORPORATION 1 2.63% $6,379
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.50% $4,146
Equity Prime Mortgage LLC 1 2.88% $6,799
HOMESTAR FINANCIAL CORPORATION 1 3.25% $2,811
CROSSCOUNTRY MORTGAGE, LLC 1 3.13% $4,089

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. Louis
Date 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
2022-05-01 $570,000 (18.8%) $879,720 (20.2%) 1.28 838
2022-06-01 $564,950 (18.9%) $838,240 (17.7%) 1.26 979
2022-07-01 $544,000 (19.0%) $804,008 (16.3%) 1.21 1,152
2022-08-01 $524,950 (16.7%) $771,801 (11.2%) 1.21 1,179
Asheville's median listing price for 2022-08-01 was $524,950, a difference of $75,000 (16.7%) versus the prior year and $-19,050 versus the prior month.

Asheville's median listing price comes in at 121% of the national average.

Asheville's average listing price for 2022-08-01 was $771,801, a difference of $77,551 (11.2%) versus the prior year and $-32,207 versus the prior month.

For the 2022-08-01 period, Asheville had 1,179 MLS listings, a difference of 27 listings (2%) versus the prior month and -55 listings (-4%) 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 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
2022-05-01 35 days 2,077 sqft
2022-06-01 37 days 2,055 sqft
2022-07-01 41 days 2,030 sqft
2022-08-01 49 days 2,033 sqft
Asheville's median listing age (time on market) for 2022-08-01 was 49 days. This is -6% shorter than the same period one year ago.

Asheville's median square footage for active listings during the 2022-08-01 period was 2,033 sqft. One year prior, the average listing was 1,874 sqft.