Asheville USDA Loan Rates, Closing Costs & Stats

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 10 lenders originated 16 USDA loans during 2023. The total origination value was $4,500,000, with an average USDA loan value of $281,250.

    Asheville USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Asheville averaged 5.99% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

    Asheville's average USDA mortgage closing costs are $5,916.

    The average rate for the prior week (2024-12-06) was 6.42% and one month ago for the week of 2024-11-08, the average rate was 6.14%.

    The average rate one year ago was 6.81%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.32%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MOVEMENT MORTGAGE, LLC 4 6.25% $10,032
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.75% $10,292
    HomeTrust Bank 2 5.50% $7,136
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.00% $7,064
    RADIUS FINANCIAL GROUP INC. 1 6.50% $6,728
    UNITED 1 7.75% $5,199
    Alcova Mortgage LLC 1 6.13% $9,167
    United Community Bank 1 5.63% $6,100
    CARDINAL FINANCIAL 1 5.75% $13,210
    GoPrime Mortgage, Inc. 1 6.50% $7,269

    The top Asheville USDA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 4 USDA loans originated. Their average total fees are $10,032, which is $259 lower than the next largest lender, ATLANTIC BAY MORTGAGE GROUP, L.L.C..

    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 $349,998 (0.2%) $496,161 (-3.6%) 1.30 2,448
    2018-02-01 $349,975 (-2.8%) $492,639 (-6.2%) 1.27 2,391
    2018-03-01 $354,900 (-2.5%) $498,344 (-5.2%) 1.25 2,443
    2018-04-01 $358,900 (-3.0%) $495,611 (-5.8%) 1.22 2,575
    2018-05-01 $363,950 (-3.2%) $494,599 (-7.2%) 1.22 2,671
    2018-06-01 $385,000 (1.3%) $530,612 (0.4%) 1.28 2,595
    2018-07-01 $387,000 (2.9%) $524,412 (-0.4%) 1.29 2,679
    2018-08-01 $385,000 (0.7%) $519,359 (-3.1%) 1.29 2,776
    2018-09-01 $380,000 (0.3%) $518,962 (-3.3%) 1.28 2,886
    2018-10-01 $377,200 (0.4%) $514,577 (-3.8%) 1.28 2,982
    2018-11-01 $375,000 (-1.1%) $511,281 (-4.0%) 1.27 2,872
    2018-12-01 $375,000 (-1.1%) $512,127 (-4.1%) 1.29 2,654
    2019-01-01 $379,000 (8.3%) $519,692 (4.7%) 1.31 2,358
    2019-02-01 $375,000 (7.2%) $522,430 (6.1%) 1.27 2,259
    2019-03-01 $383,357 (8.0%) $533,796 (7.1%) 1.25 2,341
    2019-04-01 $396,500 (10.5%) $549,239 (10.8%) 1.26 2,462
    2019-05-01 $399,945 (9.9%) $559,405 (13.1%) 1.25 2,595
    2019-06-01 $399,500 (3.8%) $559,590 (5.5%) 1.25 2,771
    2019-07-01 $399,000 (3.1%) $552,197 (5.3%) 1.25 2,767
    2019-08-01 $399,364 (3.7%) $551,906 (6.3%) 1.26 2,795
    2019-09-01 $399,159 (5.0%) $548,221 (5.6%) 1.28 2,812
    2019-10-01 $399,000 (5.8%) $546,946 (6.3%) 1.29 2,825
    2019-11-01 $399,000 (6.4%) $549,424 (7.5%) 1.31 2,640
    2019-12-01 $398,975 (6.4%) $548,608 (7.1%) 1.33 2,317
    2020-01-01 $399,450 (5.4%) $560,369 (7.8%) 1.33 2,017
    2020-02-01 $400,000 (6.7%) $562,546 (7.7%) 1.31 1,844
    2020-03-01 $404,500 (5.5%) $567,078 (6.2%) 1.27 1,871
    2020-04-01 $399,450 (0.7%) $555,148 (1.1%) 1.25 2,023
    2020-05-01 $419,950 (5.0%) $578,249 (3.4%) 1.28 2,016
    2020-06-01 $427,000 (6.9%) $596,762 (6.6%) 1.26 1,959
    2020-07-01 $428,000 (7.3%) $606,190 (9.8%) 1.24 1,859
    2020-08-01 $429,000 (7.4%) $614,941 (11.4%) 1.23 1,687
    2020-09-01 $442,500 (10.9%) $649,081 (18.4%) 1.27 1,588
    2020-10-01 $449,500 (12.7%) $658,258 (20.4%) 1.29 1,558
    2020-11-01 $454,345 (13.9%) $670,608 (22.1%) 1.33 1,427
    2020-12-01 $469,000 (17.6%) $689,163 (25.6%) 1.39 1,280
    2021-01-01 $464,000 (16.2%) $694,304 (23.9%) 1.39 1,064
    2021-02-01 $449,725 (12.4%) $690,087 (22.7%) 1.31 914
    2021-03-01 $457,500 (13.1%) $698,079 (23.1%) 1.30 821
    2021-04-01 $465,000 (16.4%) $718,303 (29.4%) 1.26 847
    2021-05-01 $479,000 (14.1%) $736,951 (27.5%) 1.27 867
    2021-06-01 $472,475 (10.7%) $713,142 (19.5%) 1.24 1,098
    2021-07-01 $454,880 (6.3%) $689,306 (13.7%) 1.20 1,210
    2021-08-01 $449,500 (4.8%) $690,396 (12.3%) 1.20 1,232
    2021-09-01 $457,105 (3.3%) $715,568 (10.2%) 1.22 1,207
    2021-10-01 $471,320 (4.9%) $728,622 (10.7%) 1.26 1,163
    2021-11-01 $472,475 (4.0%) $743,295 (10.8%) 1.26 1,014
    2021-12-01 $479,950 (2.3%) $770,423 (11.8%) 1.30 870
    2022-01-01 $499,900 (7.7%) $828,819 (19.4%) 1.35 678
    2022-02-01 $537,933 (19.6%) $910,511 (31.9%) 1.40 540
    2022-03-01 $555,925 (21.5%) $919,082 (31.7%) 1.39 520
    2022-04-01 $550,000 (18.3%) $884,179 (23.1%) 1.31 604
    2022-05-01 $567,450 (18.5%) $862,792 (17.1%) 1.30 821
    2022-06-01 $562,233 (19.0%) $826,393 (15.9%) 1.25 965
    2022-07-01 $530,000 (16.5%) $789,064 (14.5%) 1.19 1,139
    2022-08-01 $521,000 (15.9%) $760,825 (10.2%) 1.20 1,154
    2022-09-01 $523,725 (14.6%) $773,395 (8.1%) 1.22 1,188
    2022-10-01 $529,000 (12.2%) $792,464 (8.8%) 1.24 1,292
    2022-11-01 $534,500 (13.1%) $797,589 (7.3%) 1.28 1,231
    2022-12-01 $539,450 (12.4%) $797,555 (3.5%) 1.33 1,098
    2023-01-01 $531,200 (6.3%) $798,957 (-3.6%) 1.32 959
    2023-02-01 $575,000 (6.9%) $832,146 (-8.6%) 1.39 820
    2023-03-01 $575,000 (3.4%) $840,919 (-8.5%) 1.36 837
    2023-04-01 $589,500 (7.2%) $854,280 (-3.4%) 1.37 924
    2023-05-01 $599,000 (5.6%) $875,566 (1.5%) 1.36 1,055
    2023-06-01 $607,185 (8.0%) $887,871 (7.4%) 1.36 1,106
    2023-07-01 $599,000 (13.0%) $880,743 (11.6%) 1.36 1,144
    2023-08-01 $600,000 (15.2%) $874,653 (15.0%) 1.38 1,172
    2023-09-01 $600,000 (14.6%) $857,769 (10.9%) 1.40 1,245
    2023-10-01 $592,225 (12.0%) $853,475 (7.7%) 1.39 1,375
    2023-11-01 $575,000 (7.6%) $840,927 (5.4%) 1.37 1,389
    2023-12-01 $549,900 (1.9%) $823,351 (3.2%) 1.34 1,271
    2024-01-01 $552,475 (4.0%) $851,280 (6.6%) 1.35 1,087
    2024-02-01 $547,000 (-4.9%) $846,333 (1.7%) 1.32 1,022
    2024-03-01 $550,000 (-4.4%) $849,221 (1.0%) 1.29 1,138
    2024-04-01 $570,125 (-3.3%) $837,425 (-2.0%) 1.33 1,249
    2024-05-01 $627,000 (4.7%) $913,529 (4.3%) 1.42 1,319
    2024-06-01 $610,000 (0.5%) $885,502 (-0.3%) 1.37 1,443
    2024-07-01 $575,000 (-4.0%) $852,373 (-3.2%) 1.31 1,592
    2024-08-01 $569,950 (-5.0%) $843,265 (-3.6%) 1.33 1,747
    2024-09-01 $575,000 (-4.2%) $841,121 (-1.9%) 1.35 1,873
    2024-10-01 $573,450 (-3.2%) $821,782 (-3.7%) 1.35 1,751
    2024-11-01 $555,930 (-3.3%) $811,792 (-3.5%) 1.33 1,749
    Asheville's median listing price for 2024-11-01 was $555,930, a difference of $-19,070 (-3.3%) versus the prior year and $-17,520 versus the prior month.

    Asheville's median listing price comes in at 133% of the national average.

    Asheville's average listing price for 2024-11-01 was $811,792, a difference of $-29,135 (-3.5%) versus the prior year and $-9,990 versus the prior month.

    For the 2024-11-01 period, Asheville had 1,749 MLS listings, a difference of -2 listings (0%) versus the prior month and 360 listings (26%) 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
    2018-01-01 106 days 2,214 sqft
    2018-02-01 46 days 2,193 sqft
    2018-03-01 68 days 2,153 sqft
    2018-04-01 80 days 2,156 sqft
    2018-05-01 73 days 2,163 sqft
    2018-06-01 72 days 2,160 sqft
    2018-07-01 72 days 2,187 sqft
    2018-08-01 79 days 2,185 sqft
    2018-09-01 81 days 2,172 sqft
    2018-10-01 85 days 2,130 sqft
    2018-11-01 86 days 2,114 sqft
    2018-12-01 99 days 2,089 sqft
    2019-01-01 111 days 2,080 sqft
    2019-02-01 114 days 2,063 sqft
    2019-03-01 93 days 2,113 sqft
    2019-04-01 63 days 2,166 sqft
    2019-05-01 60 days 2,214 sqft
    2019-06-01 60 days 2,216 sqft
    2019-07-01 66 days 2,211 sqft
    2019-08-01 70 days 2,185 sqft
    2019-09-01 75 days 2,163 sqft
    2019-10-01 78 days 2,153 sqft
    2019-11-01 81 days 2,144 sqft
    2019-12-01 92 days 2,130 sqft
    2020-01-01 107 days 2,128 sqft
    2020-02-01 109 days 2,110 sqft
    2020-03-01 91 days 2,112 sqft
    2020-04-01 75 days 2,079 sqft
    2020-05-01 75 days 2,149 sqft
    2020-06-01 72 days 2,172 sqft
    2020-07-01 62 days 2,204 sqft
    2020-08-01 62 days 2,181 sqft
    2020-09-01 59 days 2,211 sqft
    2020-10-01 57 days 2,176 sqft
    2020-11-01 60 days 2,141 sqft
    2020-12-01 68 days 2,110 sqft
    2021-01-01 79 days 2,055 sqft
    2021-02-01 82 days 1,990 sqft
    2021-03-01 57 days 1,941 sqft
    2021-04-01 45 days 1,930 sqft
    2021-05-01 38 days 1,992 sqft
    2021-06-01 35 days 1,941 sqft
    2021-07-01 41 days 1,906 sqft
    2021-08-01 48 days 1,870 sqft
    2021-09-01 52 days 1,898 sqft
    2021-10-01 53 days 1,938 sqft
    2021-11-01 57 days 1,917 sqft
    2021-12-01 67 days 1,930 sqft
    2022-01-01 79 days 1,939 sqft
    2022-02-01 74 days 1,936 sqft
    2022-03-01 48 days 2,023 sqft
    2022-04-01 30 days 2,005 sqft
    2022-05-01 30 days 2,074 sqft
    2022-06-01 33 days 2,054 sqft
    2022-07-01 36 days 2,026 sqft
    2022-08-01 45 days 2,025 sqft
    2022-09-01 49 days 1,988 sqft
    2022-10-01 50 days 2,040 sqft
    2022-11-01 56 days 2,062 sqft
    2022-12-01 71 days 2,046 sqft
    2023-01-01 83 days 1,971 sqft
    2023-02-01 85 days 2,017 sqft
    2023-03-01 61 days 2,030 sqft
    2023-04-01 46 days 2,051 sqft
    2023-05-01 43 days 2,056 sqft
    2023-06-01 46 days 2,102 sqft
    2023-07-01 52 days 2,089 sqft
    2023-08-01 54 days 2,110 sqft
    2023-09-01 50 days 2,105 sqft
    2023-10-01 51 days 2,080 sqft
    2023-11-01 57 days 2,008 sqft
    2023-12-01 69 days 1,987 sqft
    2024-01-01 82 days 1,930 sqft
    2024-02-01 84 days 1,888 sqft
    2024-03-01 57 days 1,902 sqft
    2024-04-01 43 days 1,943 sqft
    2024-05-01 40 days 2,041 sqft
    2024-06-01 45 days 2,015 sqft
    2024-07-01 50 days 1,964 sqft
    2024-08-01 52 days 1,960 sqft
    2024-09-01 57 days 1,944 sqft
    2024-10-01 71 days 1,947 sqft
    2024-11-01 79 days 1,907 sqft
    Asheville's median listing age (time on market) for 2024-11-01 was 79 days. This is 39% longer than the same period one year ago.

    Asheville's median square footage for active listings during the 2024-11-01 period was 1,907 sqft. One year prior, the average listing was 2,008 sqft.