Asheville USDA Loan Rates, Closing Costs & Stats

ASHEVILLE, NC

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.