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 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 -0.52% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

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

    The average rate for the prior week (2023-11-17) was 6.47% and one month ago for the week of 2023-10-20, the average rate was 6.99%.

    The average rate one year ago was 5.83%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.81%.

    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 $383,379 (8.0%) $533,567 (7.2%) 1.25 2,338
    2019-04-01 $396,525 (10.5%) $549,001 (10.9%) 1.26 2,460
    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 $399,000 (3.6%) $551,132 (6.2%) 1.26 2,793
    2019-09-01 $399,000 (4.7%) $547,524 (5.6%) 1.28 2,809
    2019-10-01 $399,000 (5.8%) $546,303 (6.2%) 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 (5.3%) $567,123 (6.3%) 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 (7.5%) $614,891 (11.6%) 1.23 1,687
    2020-09-01 $442,500 (10.9%) $648,644 (18.5%) 1.27 1,586
    2020-10-01 $449,250 (12.6%) $658,355 (20.5%) 1.29 1,556
    2020-11-01 $455,250 (14.1%) $670,739 (22.0%) 1.33 1,424
    2020-12-01 $469,000 (17.6%) $688,882 (25.5%) 1.40 1,276
    2021-01-01 $463,000 (15.9%) $693,720 (23.8%) 1.38 1,061
    2021-02-01 $449,250 (12.3%) $689,485 (22.6%) 1.31 911
    2021-03-01 $457,475 (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%) $729,040 (10.7%) 1.25 1,157
    2021-11-01 $472,250 (3.7%) $743,062 (10.8%) 1.26 1,010
    2021-12-01 $479,000 (2.1%) $770,120 (11.8%) 1.30 867
    2022-01-01 $499,450 (7.9%) $827,928 (19.4%) 1.35 678
    2022-02-01 $537,063 (19.6%) $909,748 (32.0%) 1.40 539
    2022-03-01 $552,228 (20.7%) $918,572 (31.7%) 1.38 517
    2022-04-01 $550,000 (18.3%) $883,704 (23.0%) 1.31 600
    2022-05-01 $567,000 (18.4%) $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%) $788,446 (14.4%) 1.19 1,138
    2022-08-01 $521,240 (16.2%) $761,878 (10.4%) 1.21 1,155
    2022-09-01 $524,950 (15.0%) $774,188 (8.2%) 1.23 1,189
    2022-10-01 $529,000 (12.6%) $793,039 (8.8%) 1.24 1,293
    2022-11-01 $534,625 (13.2%) $797,858 (7.4%) 1.29 1,231
    2022-12-01 $539,000 (12.5%) $797,674 (3.6%) 1.33 1,097
    2023-01-01 $529,950 (6.1%) $799,113 (-3.5%) 1.31 958
    2023-02-01 $575,000 (7.1%) $832,499 (-8.5%) 1.39 819
    2023-03-01 $575,000 (4.1%) $841,281 (-8.4%) 1.36 836
    2023-04-01 $589,500 (7.2%) $854,280 (-3.3%) 1.37 924
    2023-05-01 $599,000 (5.6%) $875,823 (1.6%) 1.36 1,055
    2023-06-01 $607,500 (8.5%) $888,508 (7.6%) 1.37 1,105
    2023-07-01 $599,000 (13.0%) $881,137 (11.8%) 1.36 1,144
    2023-08-01 $600,000 (15.1%) $874,653 (14.8%) 1.38 1,172
    2023-09-01 $600,000 (14.3%) $857,769 (10.8%) 1.40 1,245
    2023-10-01 $592,225 (12.0%) $853,475 (7.6%) 1.39 1,375
    Asheville's median listing price for 2023-10-01 was $592,225, a difference of $63,225 (12.0%) versus the prior year and $-7,775 versus the prior month.

    Asheville's median listing price comes in at 139% of the national average.

    Asheville's average listing price for 2023-10-01 was $853,475, a difference of $60,436 (7.6%) versus the prior year and $-4,294 versus the prior month.

    For the 2023-10-01 period, Asheville had 1,375 MLS listings, a difference of 130 listings (10%) versus the prior month and 82 listings (6%) 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 2,227 sqft
    2018-02-01 46 days 2,194 sqft
    2018-03-01 68 days 2,155 sqft
    2018-04-01 80 days 2,157 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 2,131 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 2,065 sqft
    2019-03-01 93 days 2,115 sqft
    2019-04-01 63 days 2,169 sqft
    2019-05-01 60 days 2,215 sqft
    2019-06-01 60 days 2,217 sqft
    2019-07-01 66 days 2,211 sqft
    2019-08-01 70 days 2,186 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
    2020-01-01 106 days 2,129 sqft
    2020-02-01 109 days 2,113 sqft
    2020-03-01 91 days 2,111 sqft
    2020-04-01 75 days 2,079 sqft
    2020-05-01 76 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 2,182 sqft
    2020-09-01 59 days 2,211 sqft
    2020-10-01 57 days 2,176 sqft
    2020-11-01 60 days 2,140 sqft
    2020-12-01 68 days 2,110 sqft
    2021-01-01 79 days 2,051 sqft
    2021-02-01 82 days 1,988 sqft
    2021-03-01 56 days 1,940 sqft
    2021-04-01 45 days 1,930 sqft
    2021-05-01 38 days 1,994 sqft
    2021-06-01 35 days 1,943 sqft
    2021-07-01 41 days 1,910 sqft
    2021-08-01 48 days 1,872 sqft
    2021-09-01 52 days 1,907 sqft
    2021-10-01 52 days 1,941 sqft
    2021-11-01 56 days 1,917 sqft
    2021-12-01 67 days 1,929 sqft
    2022-01-01 79 days 1,941 sqft
    2022-02-01 74 days 1,939 sqft
    2022-03-01 49 days 2,025 sqft
    2022-04-01 30 days 2,003 sqft
    2022-05-01 29 days 2,074 sqft
    2022-06-01 33 days 2,052 sqft
    2022-07-01 36 days 2,016 sqft
    2022-08-01 45 days 2,023 sqft
    2022-09-01 49 days 1,986 sqft
    2022-10-01 50 days 2,042 sqft
    2022-11-01 56 days 2,066 sqft
    2022-12-01 70 days 2,047 sqft
    2023-01-01 83 days 1,972 sqft
    2023-02-01 85 days 2,015 sqft
    2023-03-01 61 days 2,029 sqft
    2023-04-01 46 days 2,048 sqft
    2023-05-01 43 days 2,056 sqft
    2023-06-01 46 days 2,102 sqft
    2023-07-01 52 days 2,088 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
    Asheville's median listing age (time on market) for 2023-10-01 was 51 days. This is 2% longer than the same period one year ago.

    Asheville's median square footage for active listings during the 2023-10-01 period was 2,080 sqft. One year prior, the average listing was 2,042 sqft.