Asheville USDA Loans

ASHEVILLE, 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.

    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%.

    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 Bank 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
    Asheville's median listing price for 2022-04-01 was $559,900, a difference of $92,150 (19.7%) versus the prior year and $-5,100 versus the prior month.

    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. 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
    Asheville's median listing age (time on market) for 2022-04-01 was 37 days. This is -32% shorter than the same period one year ago.

    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.