Augusta USDA Loans

AUGUSTA-RICHMOND COUNTY, GA-SC

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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.

    Augusta's 54 lenders originated 236 USDA loans during 2021. The total origination value was $45,610,000, with an average USDA loan value of $193,263.

    Augusta USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Augusta averaged 5.23% 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 5.22% and one month ago for the week of 2022-04-15, the average rate was 5.11%.

    The average rate one year ago was 2.96%.

    For refis of the same type during the week of 2022-05-20, the average rate was 4.89%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Augusta 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 Augusta level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    GUILD MORTGAGE COMPANY 24 2.98% $7,329
    BROKER SOLUTIONS, INC. 24 3.28% $5,287
    First Heritage Mortgage, LLC 22 2.84% $6,611
    Magnolia Bank 15 2.58% $4,269
    Security Federal Bank 12 2.43% $6,114
    BANKSOUTH MORTGAGE COMPANY, LLC 11 2.81% $5,862
    Colony Bank 10 2.81% $5,342
    Queensborough National Bank & Trust Company 9 2.64% $2,942
    PLAZA HOME MORTGAGE, INC. 8 2.76% $4,688
    DHI MORTGAGE COMPANY, LTD. 6 2.87% $4,960
    UNITED WHOLESALE MORTGAGE, LLC 5 2.72% $5,126
    Ameris Bank 4 2.66% $5,623
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 3.09% $5,981
    First Community Bank 4 3.00% $2,570
    Flagstar Bank, FSB 4 2.97% $4,789
    HOME POINT FINANCIAL CORPORATION 4 2.72% $4,113
    Mortgage Research Center, LLC 4 2.53% $3,833
    VANDERBILT MORTGAGE AND FINANCE, INC. 4 3.19% $5,847
    FIRST CHOICE MORTGAGE, INC. 3 3.00% $5,344
    CMG MORTGAGE, INC. 3 2.79% $5,860
    GUARANTEED RATE AFFINITY, LLC 3 3.00% $5,770
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 3.21% $5,974
    MOVEMENT MORTGAGE, LLC 3 3.21% $4,392
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.33% $7,288
    Regions Bank 3 2.92% $5,957
    AUGUSTA MORTGAGE CO. 3 2.79% $5,380
    South State Bank 3 2.58% $5,646
    RESOURCE FINANCIAL SERVICES, INC. 2 2.63% $5,196
    Austin Capital Bank SSB 2 2.75% $6,605
    Carrington Mortgage Services, LLC 2 4.69% $4,922
    CRESCENT MORTGAGE COMPANY 2 2.75% $3,775
    COUNTRYPLACE MORTGAGE, LTD. 2 3.25% $8,776
    CALIBER HOME LOANS, INC. 1 3.00% $4,227
    MID AMERICA MORTGAGE, INC. 1 3.63% $5,562
    MIDLAND MORTGAGE CORPORATION 1 4.13% $3,264
    Wells Fargo Bank 1 3.88% $2,169
    Network Funding, L.P. 1 3.00% $4,553
    Barrington Bank & Trust Company, N.A. 1 3.00% $5,516
    CROSSCOUNTRY MORTGAGE, LLC 1 2.63% $2,000
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.75% $5,594
    Colten Mortgage, LLC 1 2.88% $5,033
    Equity Prime Mortgage LLC 1 4.25% $4,708
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 3.38% $5,535
    TD Bank 1 2.75% $3,260
    SUCCESS MORTGAGE PARTNERS, INC. 1 2.75% $5,767
    TJC Mortgage, Inc. 1 2.88% $5,506
    GSF Mortgage Corporation 1 2.63% $7,436
    STEARNS LENDING, LLC 1 2.75% $4,042
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.25% $6,260
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.00% $5,956
    HOMESIDE FINANCIAL, LLC 1 3.13% $4,817
    HOMESTAR FINANCIAL CORPORATION 1 3.63% $3,986
    KELLER MORTGAGE, LLC 1 2.75% $4,737
    LOANDEPOT.COM, LLC 1 2.88% $4,736

    The top Augusta USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 24 USDA loans originated. Their average total fees are $7,329, which is $2,042 higher than the next largest lender, BROKER SOLUTIONS, INC..

    The lowest fee Augusta USDA lenders (with over 10 loans originated) are Magnolia Bank ($4,269), BROKER SOLUTIONS, INC. ($5,287), Colony Bank ($5,342), BANKSOUTH MORTGAGE COMPANY, LLC ($5,862) and Security Federal Bank ($6,114).

    The lowest rate Augusta USDA lenders (with over 10 loans originated) are Security Federal Bank (2.43%), Magnolia Bank (2.58%), BANKSOUTH MORTGAGE COMPANY, LLC (2.81%), Colony Bank (2.81%) and First Heritage Mortgage, LLC (2.84%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Augusta (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 $216,900 (8.5%) $275,158 (7.1%) 0.80 2,707
    2018-02-01 $219,950 (7.3%) $282,376 (9.2%) 0.79 2,714
    2018-03-01 $224,900 (7.4%) $288,746 (9.0%) 0.78 2,662
    2018-04-01 $229,575 (9.3%) $293,029 (10.1%) 0.77 2,641
    2018-05-01 $230,000 (5.3%) $295,514 (8.1%) 0.77 2,660
    2018-06-01 $229,900 (6.3%) $294,172 (7.2%) 0.77 2,625
    2018-07-01 $227,000 (5.6%) $288,824 (6.6%) 0.76 2,701
    2018-08-01 $218,150 (1.7%) $281,193 (4.3%) 0.73 2,772
    2018-09-01 $215,000 (0.0%) $278,615 (3.0%) 0.72 2,867
    2018-10-01 $216,100 (1.3%) $274,474 (1.8%) 0.72 2,870
    2018-11-01 $215,000 (-0.1%) $270,516 (-1.5%) 0.72 2,842
    2018-12-01 $214,900 (-0.1%) $276,117 (1.2%) 0.74 2,762
    2019-01-01 $214,125 (-1.3%) $276,956 (0.7%) 0.74 2,643
    2019-02-01 $211,950 (-3.6%) $276,165 (-2.2%) 0.71 2,602
    2019-03-01 $219,186 (-2.5%) $284,095 (-1.6%) 0.71 2,537
    2019-04-01 $225,900 (-1.6%) $291,100 (-0.7%) 0.71 2,483
    2019-05-01 $228,950 (-0.5%) $294,391 (-0.4%) 0.71 2,503
    2019-06-01 $229,900 (0.0%) $295,022 (0.3%) 0.71 2,486
    2019-07-01 $234,345 (3.2%) $299,451 (3.7%) 0.73 2,529
    2019-08-01 $232,614 (6.6%) $297,916 (6.0%) 0.73 2,504
    2019-09-01 $235,445 (9.5%) $300,579 (7.9%) 0.75 2,446
    2019-10-01 $234,900 (8.7%) $295,568 (7.7%) 0.75 2,486
    2019-11-01 $229,900 (6.9%) $293,465 (8.5%) 0.74 2,429
    2019-12-01 $229,900 (7.0%) $292,412 (5.9%) 0.77 2,288
    2020-01-01 $229,918 (7.4%) $295,730 (6.8%) 0.77 2,138
    2020-02-01 $234,900 (10.8%) $304,115 (10.1%) 0.76 2,014
    2020-03-01 $236,700 (8.0%) $306,511 (7.9%) 0.74 1,972
    2020-04-01 $239,450 (6.0%) $308,936 (6.1%) 0.75 1,967
    2020-05-01 $245,000 (7.0%) $319,164 (8.4%) 0.74 1,789
    2020-06-01 $242,538 (5.5%) $323,818 (9.8%) 0.71 1,561
    2020-07-01 $243,950 (4.1%) $325,424 (8.7%) 0.70 1,504
    2020-08-01 $250,000 (7.5%) $330,649 (11.0%) 0.71 1,424
    2020-09-01 $259,140 (10.1%) $347,828 (15.7%) 0.74 1,313
    2020-10-01 $258,075 (9.9%) $344,593 (16.6%) 0.74 1,308
    2020-11-01 $249,900 (8.7%) $362,288 (23.5%) 0.72 1,193
    2020-12-01 $249,900 (8.7%) $355,918 (21.7%) 0.73 1,171
    2021-01-01 $249,900 (8.7%) $350,694 (18.6%) 0.74 1,094
    2021-02-01 $254,950 (8.5%) $362,106 (19.1%) 0.73 942
    2021-03-01 $255,000 (7.7%) $370,049 (20.7%) 0.72 814
    2021-04-01 $263,750 (10.2%) $395,494 (28.0%) 0.71 741
    2021-05-01 $275,000 (12.2%) $389,208 (22.0%) 0.72 810
    2021-06-01 $277,450 (14.4%) $384,220 (18.7%) 0.72 903
    2021-07-01 $276,900 (13.5%) $377,685 (16.1%) 0.72 982
    2021-08-01 $281,950 (12.8%) $368,272 (11.4%) 0.74 1,097
    2021-09-01 $279,900 (8.0%) $360,498 (3.6%) 0.74 1,117
    2021-10-01 $273,752 (6.1%) $348,846 (1.2%) 0.72 1,145
    2021-11-01 $284,900 (14.0%) $355,981 (-1.7%) 0.75 1,089
    2021-12-01 $284,900 (14.0%) $349,123 (-1.9%) 0.76 993
    2022-01-01 $284,100 (13.7%) $351,733 (0.3%) 0.76 855
    2022-02-01 $284,950 (11.8%) $351,625 (-2.9%) 0.73 705
    2022-03-01 $282,200 (10.7%) $353,503 (-4.5%) 0.70 697
    2022-04-01 $293,100 (11.1%) $357,329 (-9.7%) 0.69 794
    Augusta's median listing price for 2022-04-01 was $293,100, a difference of $29,350 (11.1%) versus the prior year and $10,900 versus the prior month.

    Augusta's median listing price comes in at 69% of the national average.

    Augusta's average listing price for 2022-04-01 was $357,329, a difference of $-38,165 (-9.7%) versus the prior year and $3,826 versus the prior month.

    For the 2022-04-01 period, Augusta had 794 MLS listings, a difference of 97 listings (14%) versus the prior month and 53 listings (7%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Augusta (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 104 days 2,181 sqft
    2018-02-01 99 days 2,223 sqft
    2018-03-01 80 days 2,246 sqft
    2018-04-01 75 days 2,281 sqft
    2018-05-01 71 days 2,303 sqft
    2018-06-01 72 days 2,306 sqft
    2018-07-01 73 days 2,264 sqft
    2018-08-01 81 days 2,183 sqft
    2018-09-01 82 days 2,146 sqft
    2018-10-01 87 days 2,142 sqft
    2018-11-01 88 days 2,104 sqft
    2018-12-01 99 days 2,088 sqft
    2019-01-01 107 days 2,087 sqft
    2019-02-01 107 days 2,082 sqft
    2019-03-01 83 days 2,137 sqft
    2019-04-01 68 days 2,199 sqft
    2019-05-01 63 days 2,213 sqft
    2019-06-01 66 days 2,231 sqft
    2019-07-01 65 days 2,240 sqft
    2019-08-01 67 days 2,244 sqft
    2019-09-01 77 days 2,285 sqft
    2019-10-01 81 days 2,266 sqft
    2019-11-01 84 days 2,246 sqft
    2019-12-01 87 days 2,248 sqft
    2020-01-01 92 days 2,230 sqft
    2020-02-01 86 days 2,246 sqft
    2020-03-01 62 days 2,250 sqft
    2020-04-01 66 days 2,263 sqft
    2020-05-01 74 days 2,283 sqft
    2020-06-01 74 days 2,263 sqft
    2020-07-01 65 days 2,265 sqft
    2020-08-01 56 days 2,260 sqft
    2020-09-01 52 days 2,295 sqft
    2020-10-01 56 days 2,202 sqft
    2020-11-01 53 days 2,210 sqft
    2020-12-01 57 days 2,232 sqft
    2021-01-01 59 days 2,232 sqft
    2021-02-01 62 days 2,217 sqft
    2021-03-01 50 days 2,188 sqft
    2021-04-01 45 days 2,204 sqft
    2021-05-01 40 days 2,249 sqft
    2021-06-01 38 days 2,200 sqft
    2021-07-01 39 days 2,156 sqft
    2021-08-01 38 days 2,156 sqft
    2021-09-01 44 days 2,152 sqft
    2021-10-01 49 days 2,112 sqft
    2021-11-01 49 days 2,165 sqft
    2021-12-01 56 days 2,173 sqft
    2022-01-01 62 days 2,156 sqft
    2022-02-01 49 days 2,130 sqft
    2022-03-01 39 days 2,086 sqft
    2022-04-01 34 days 2,118 sqft
    Augusta's median listing age (time on market) for 2022-04-01 was 34 days. This is -24% shorter than the same period one year ago.

    Augusta's median square footage for active listings during the 2022-04-01 period was 2,118 sqft. One year prior, the average listing was 2,204 sqft.