Augusta USDA Loans

AUGUSTA-RICHMOND COUNTY, GA-SC

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.