Asheville USDA Loan Rates, Closing Costs & Stats

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 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 6.62% for the week of 2024-05-24, compared to the national average (all USDA variants) of 6.738% for the same period.

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

The average rate for the prior week (2024-05-17) was 6.7% and one month ago for the week of 2024-04-19, the average rate was 6.64%.

The average rate one year ago was 6.36%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.45%.

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
Asheville's median listing price for 2024-04-01 was $570,125, a difference of $-19,375 (-3.3%) versus the prior year and $20,125 versus the prior month.

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

Asheville's average listing price for 2024-04-01 was $837,425, a difference of $-16,855 (-2.0%) versus the prior year and $-11,796 versus the prior month.

For the 2024-04-01 period, Asheville had 1,249 MLS listings, a difference of 111 listings (10%) versus the prior month and 325 listings (35%) 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 1,931 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
Asheville's median listing age (time on market) for 2024-04-01 was 43 days. This is -7% shorter than the same period one year ago.

Asheville's median square footage for active listings during the 2024-04-01 period was 1,943 sqft. One year prior, the average listing was 2,051 sqft.