Charleston USDA Loan Rates, Closing Costs & Stats
Charleston-Mattoon, IL
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.
Charleston's 14 lenders originated 40 USDA loans during 2023. The total origination value was $4,270,000, with an average USDA loan value of $106,750.
Charleston USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Charleston
averaged
7.05%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Charleston's average USDA mortgage closing costs are $3,427.
The average rate for the prior week (2024-04-12) was
6.8% and
one month ago for the week of 2024-03-15, the
average rate was 6.68%.
The average rate one year ago was 6.12%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.96%.
Charleston 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 Charleston level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| FLAT BRANCH MORTGAGE, INC. | 10 | 7.11% | $3,961 |
| Community Mortgage Banc Corporation | 10 | 6.59% | $3,605 |
| First Mid Bank & Trust | 4 | 6.53% | $4,002 |
| Mortgage Research Center, LLC | 2 | 6.94% | $3,581 |
| ON Q FINANCIAL, INC. | 2 | 6.88% | $5,213 |
| Midland States Bank | 2 | 6.19% | $5,377 |
| OPEN MORTGAGE, LLC | 1 | 6.50% | $7,179 |
| BROKER SOLUTIONS, INC. | 1 | 7.63% | $4,010 |
| Petefish, Skiles & Co. | 1 | 7.13% | $2,743 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 7.13% | $3,529 |
| Equity Prime Mortgage LLC | 1 | 7.25% | $4,594 |
| Heartland Bank and Trust Company | 1 | 6.88% | $3,117 |
| MOVEMENT MORTGAGE, LLC | 1 | 5.63% | $12,395 |
| Network Funding, L.P. | 1 | 6.50% | $5,673 |
The top Charleston USDA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with
10 USDA loans originated. Their average total fees are
$3,961, which is $357
higher than the next largest lender,
Community Mortgage Banc Corporation.
The lowest fee Charleston USDA lenders (with over 10 loans originated) are
Community Mortgage Banc Corporation ($3,605), FLAT BRANCH MORTGAGE, INC. ($3,961), .
The lowest rate Charleston USDA lenders (with over 10 loans originated) are
Community Mortgage Banc Corporation (6.59%), FLAT BRANCH MORTGAGE, INC. (7.11%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Charleston (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 | $79,900 (-4.0%) | $116,730 (4.9%) | 0.00 | 234 |
| 2018-02-01 | $79,700 (-8.2%) | $113,958 (-1.6%) | 0.00 | 247 |
| 2018-03-01 | $84,750 (-4.6%) | $119,623 (1.5%) | 0.00 | 265 |
| 2018-04-01 | $89,575 (1.2%) | $124,121 (6.5%) | 0.00 | 269 |
| 2018-05-01 | $94,000 (14.3%) | $132,751 (14.5%) | 0.00 | 280 |
| 2018-06-01 | $99,500 (19.4%) | $132,983 (12.4%) | 0.00 | 307 |
| 2018-07-01 | $94,925 (11.8%) | $129,396 (4.5%) | 0.00 | 321 |
| 2018-08-01 | $94,575 (9.1%) | $129,825 (1.5%) | 0.00 | 330 |
| 2018-09-01 | $89,900 (5.8%) | $125,735 (0.2%) | 0.00 | 328 |
| 2018-10-01 | $89,600 (9.1%) | $124,384 (3.7%) | 0.00 | 312 |
| 2018-11-01 | $89,900 (6.4%) | $125,584 (3.6%) | 0.00 | 303 |
| 2018-12-01 | $89,500 (11.9%) | $123,326 (2.6%) | 0.00 | 292 |
| 2019-01-01 | $89,250 (11.7%) | $122,725 (5.1%) | 0.00 | 291 |
| 2019-02-01 | $89,800 (12.7%) | $124,599 (9.3%) | 0.00 | 295 |
| 2019-03-01 | $89,729 (5.9%) | $124,136 (3.8%) | 0.00 | 278 |
| 2019-04-01 | $89,729 (0.2%) | $122,482 (-1.3%) | 0.00 | 261 |
| 2019-05-01 | $97,125 (3.3%) | $128,486 (-3.2%) | 0.00 | 254 |
| 2019-06-01 | $99,200 (-0.3%) | $127,260 (-4.3%) | 0.00 | 265 |
| 2019-07-01 | $100,950 (6.4%) | $124,936 (-3.5%) | 0.00 | 317 |
| 2019-08-01 | $103,227 (9.2%) | $122,327 (-5.8%) | 0.00 | 316 |
| 2019-09-01 | $105,068 (16.9%) | $121,774 (-3.2%) | 0.00 | 309 |
| 2019-10-01 | $106,295 (18.6%) | $121,405 (-2.4%) | 0.00 | 299 |
| 2019-11-01 | $98,700 (9.8%) | $119,704 (-4.7%) | 0.00 | 283 |
| 2019-12-01 | $89,900 (0.5%) | $126,545 (2.6%) | 0.00 | 268 |
| 2020-01-01 | $89,500 (0.3%) | $127,790 (4.1%) | 0.00 | 246 |
| 2020-02-01 | $89,625 (-0.2%) | $127,090 (2.0%) | 0.00 | 231 |
| 2020-03-01 | $101,250 (12.8%) | $133,145 (7.3%) | 0.00 | 220 |
| 2020-04-01 | $100,500 (12.0%) | $135,376 (10.5%) | 0.00 | 212 |
| 2020-05-01 | $94,900 (-2.3%) | $134,823 (4.9%) | 0.00 | 197 |
| 2020-06-01 | $95,975 (-3.3%) | $134,386 (5.6%) | 0.00 | 189 |
| 2020-07-01 | $93,000 (-7.9%) | $121,199 (-3.0%) | 0.00 | 189 |
| 2020-08-01 | $93,000 (-9.9%) | $116,824 (-4.5%) | 0.00 | 177 |
| 2020-09-01 | $89,500 (-14.8%) | $110,969 (-8.9%) | 0.00 | 156 |
| 2020-10-01 | $88,700 (-16.6%) | $112,555 (-7.3%) | 0.00 | 157 |
| 2020-11-01 | $85,350 (-13.5%) | $106,797 (-10.8%) | 0.00 | 161 |
| 2020-12-01 | $84,900 (-5.6%) | $104,626 (-17.3%) | 0.00 | 136 |
| 2021-01-01 | $81,500 (-8.9%) | $104,053 (-18.6%) | 0.00 | 127 |
| 2021-02-01 | $84,900 (-5.3%) | $108,751 (-14.4%) | 0.00 | 106 |
| 2021-03-01 | $84,925 (-16.1%) | $117,430 (-11.8%) | 0.00 | 100 |
| 2021-04-01 | $87,250 (-13.2%) | $122,823 (-9.3%) | 0.00 | 89 |
| 2021-05-01 | $80,000 (-15.7%) | $122,839 (-8.9%) | 0.00 | 74 |
| 2021-06-01 | $83,950 (-12.5%) | $125,676 (-6.5%) | 0.00 | 79 |
| 2021-07-01 | $84,950 (-8.7%) | $126,770 (4.6%) | 0.00 | 85 |
| 2021-08-01 | $81,750 (-12.1%) | $118,604 (1.5%) | 0.00 | 96 |
| 2021-09-01 | $81,000 (-9.5%) | $120,091 (8.2%) | 0.00 | 85 |
| 2021-10-01 | $85,000 (-4.2%) | $142,176 (26.3%) | 0.00 | 96 |
| 2021-11-01 | $85,000 (-0.4%) | $143,057 (34.0%) | 0.00 | 107 |
| 2021-12-01 | $85,700 (0.9%) | $144,580 (38.2%) | 0.00 | 87 |
| 2022-01-01 | $82,500 (1.2%) | $136,371 (31.1%) | 0.00 | 76 |
| 2022-02-01 | $77,425 (-8.8%) | $127,170 (16.9%) | 0.00 | 77 |
| 2022-03-01 | $73,175 (-13.8%) | $135,500 (15.4%) | 0.00 | 75 |
| 2022-04-01 | $79,900 (-8.4%) | $144,175 (17.4%) | 0.00 | 68 |
| 2022-05-01 | $86,675 (8.3%) | $158,800 (29.3%) | 0.00 | 69 |
| 2022-06-01 | $79,400 (-5.4%) | $154,014 (22.6%) | 0.00 | 61 |
| 2022-07-01 | $87,900 (3.5%) | $145,207 (14.5%) | 0.00 | 70 |
| 2022-08-01 | $88,450 (8.2%) | $164,860 (39.0%) | 0.00 | 74 |
| 2022-09-01 | $106,100 (31.0%) | $178,219 (48.4%) | 0.00 | 78 |
| 2022-10-01 | $112,400 (32.2%) | $174,949 (23.1%) | 0.00 | 88 |
| 2022-11-01 | $117,725 (38.5%) | $180,675 (26.3%) | 0.00 | 84 |
| 2022-12-01 | $116,400 (35.8%) | $200,515 (38.7%) | 0.00 | 82 |
| 2023-01-01 | $138,500 (67.9%) | $222,337 (63.0%) | 0.00 | 79 |
| 2023-02-01 | $132,700 (71.4%) | $219,648 (72.7%) | 0.00 | 73 |
| 2023-03-01 | $147,975 (102.2%) | $231,640 (71.0%) | 0.00 | 68 |
| 2023-04-01 | $143,450 (79.5%) | $236,159 (63.8%) | 0.00 | 59 |
| 2023-05-01 | $159,900 (84.5%) | $237,349 (49.5%) | 0.00 | 58 |
| 2023-06-01 | $175,000 (120.4%) | $248,450 (61.3%) | 0.00 | 50 |
| 2023-07-01 | $173,900 (97.8%) | $230,892 (59.0%) | 0.00 | 55 |
| 2023-08-01 | $177,750 (101.0%) | $238,278 (44.5%) | 0.00 | 61 |
| 2023-09-01 | $158,000 (48.9%) | $206,786 (16.0%) | 0.00 | 73 |
| 2023-10-01 | $149,900 (33.4%) | $189,732 (8.5%) | 0.00 | 79 |
| 2023-11-01 | $160,000 (35.9%) | $191,397 (5.9%) | 0.00 | 74 |
| 2023-12-01 | $159,900 (37.4%) | $181,592 (-9.4%) | 0.00 | 62 |
| 2024-01-01 | $136,175 (-1.7%) | $174,617 (-21.5%) | 0.00 | 45 |
| 2024-02-01 | $142,500 (7.4%) | $171,503 (-21.9%) | 0.00 | 48 |
| 2024-03-01 | $128,000 (-13.5%) | $183,063 (-21.0%) | 0.00 | 56 |
Charleston's median listing price comes in at 0% of the national average.
Charleston's average listing price for 2024-03-01 was $183,063, a difference of $-48,577 (-21.0%) versus the prior year and $11,560 versus the prior month.
For the 2024-03-01 period, Charleston had 56 MLS listings, a difference of 8 listings (17%) versus the prior month and -12 listings (-18%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Charleston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,564 sqft |
| 2018-02-01 | 0 days | 1,561 sqft |
| 2018-03-01 | 0 days | 1,564 sqft |
| 2018-04-01 | 0 days | 1,597 sqft |
| 2018-05-01 | 0 days | 1,622 sqft |
| 2018-06-01 | 0 days | 1,660 sqft |
| 2018-07-01 | 0 days | 1,650 sqft |
| 2018-08-01 | 0 days | 1,676 sqft |
| 2018-09-01 | 0 days | 1,646 sqft |
| 2018-10-01 | 0 days | 1,602 sqft |
| 2018-11-01 | 0 days | 1,595 sqft |
| 2018-12-01 | 0 days | 1,592 sqft |
| 2019-01-01 | 0 days | 1,570 sqft |
| 2019-02-01 | 0 days | 1,570 sqft |
| 2019-03-01 | 0 days | 1,537 sqft |
| 2019-04-01 | 0 days | 1,501 sqft |
| 2019-05-01 | 0 days | 1,593 sqft |
| 2019-06-01 | 0 days | 1,574 sqft |
| 2019-07-01 | 0 days | 1,580 sqft |
| 2019-08-01 | 0 days | 1,572 sqft |
| 2019-09-01 | 0 days | 1,588 sqft |
| 2019-10-01 | 0 days | 1,607 sqft |
| 2019-11-01 | 0 days | 1,620 sqft |
| 2019-12-01 | 0 days | 1,618 sqft |
| 2020-01-01 | 0 days | 1,618 sqft |
| 2020-02-01 | 0 days | 1,610 sqft |
| 2020-03-01 | 0 days | 1,658 sqft |
| 2020-04-01 | 0 days | 1,668 sqft |
| 2020-05-01 | 0 days | 1,664 sqft |
| 2020-06-01 | 0 days | 1,673 sqft |
| 2020-07-01 | 0 days | 1,641 sqft |
| 2020-08-01 | 0 days | 1,614 sqft |
| 2020-09-01 | 0 days | 1,568 sqft |
| 2020-10-01 | 0 days | 1,558 sqft |
| 2020-11-01 | 0 days | 1,467 sqft |
| 2020-12-01 | 0 days | 1,492 sqft |
| 2021-01-01 | 0 days | 1,427 sqft |
| 2021-02-01 | 0 days | 1,464 sqft |
| 2021-03-01 | 0 days | 1,541 sqft |
| 2021-04-01 | 0 days | 1,617 sqft |
| 2021-05-01 | 0 days | 1,582 sqft |
| 2021-06-01 | 0 days | 1,457 sqft |
| 2021-07-01 | 0 days | 1,443 sqft |
| 2021-08-01 | 0 days | 1,386 sqft |
| 2021-09-01 | 0 days | 1,420 sqft |
| 2021-10-01 | 0 days | 1,392 sqft |
| 2021-11-01 | 0 days | 1,449 sqft |
| 2021-12-01 | 0 days | 1,438 sqft |
| 2022-01-01 | 0 days | 1,342 sqft |
| 2022-02-01 | 0 days | 1,279 sqft |
| 2022-03-01 | 0 days | 1,246 sqft |
| 2022-04-01 | 0 days | 1,272 sqft |
| 2022-05-01 | 0 days | 1,437 sqft |
| 2022-06-01 | 0 days | 1,452 sqft |
| 2022-07-01 | 0 days | 1,452 sqft |
| 2022-08-01 | 0 days | 1,715 sqft |
| 2022-09-01 | 0 days | 1,921 sqft |
| 2022-10-01 | 0 days | 1,894 sqft |
| 2022-11-01 | 0 days | 1,484 sqft |
| 2022-12-01 | 0 days | 1,626 sqft |
| 2023-01-01 | 0 days | 1,637 sqft |
| 2023-02-01 | 0 days | 1,636 sqft |
| 2023-03-01 | 0 days | 1,640 sqft |
| 2023-04-01 | 0 days | 1,696 sqft |
| 2023-05-01 | 0 days | 1,654 sqft |
| 2023-06-01 | 0 days | 1,756 sqft |
| 2023-07-01 | 0 days | 1,766 sqft |
| 2023-08-01 | 0 days | 1,728 sqft |
| 2023-09-01 | 0 days | 1,760 sqft |
| 2023-10-01 | 0 days | 1,581 sqft |
| 2023-11-01 | 0 days | 1,603 sqft |
| 2023-12-01 | 0 days | 1,540 sqft |
| 2024-01-01 | 0 days | 1,537 sqft |
| 2024-02-01 | 0 days | 1,803 sqft |
| 2024-03-01 | 0 days | 1,604 sqft |
Charleston's median square footage for active listings during the 2024-03-01 period was 1,604 sqft. One year prior, the average listing was 1,640 sqft.