Charleston USDA Loan Rates, Closing Costs & Stats

CHARLESTON-NORTH CHARLESTON, 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.

Charleston's 13 lenders originated 19 USDA loans during 2023. The total origination value was $5,825,000, with an average USDA loan value of $306,579.

Charleston USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Charleston averaged -0.29% for the week of 2024-06-21, compared to the national average (all USDA variants) of 0% for the same period.

Charleston's average USDA mortgage closing costs are $6,184.

The average rate for the prior week (2024-06-14) was 6.59% and one month ago for the week of 2024-05-17, the average rate was 6.33%.

The average rate one year ago was 6.11%.

For refis of the same type during the week of 2024-06-21, the average rate was -0.31%.

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

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
DHI MORTGAGE COMPANY, LTD. 6 5.00% $6,399
MIDLAND MORTGAGE CORPORATION 2 6.06% $6,941
Atlantic Coast Mortgage, LLC 1 6.00% $9,563
Century Mortgage Company DBA Century Lending Company 1 5.50% $9,276
DAS Acquisition Company, LLC 1 6.63% $10,157
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $10,786
Fifth Third Bank 1 6.50% $6,734
GUILD MORTGAGE COMPANY 1 7.00% $9,747
MOVEMENT MORTGAGE, LLC 1 6.75% $7,641
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.63% $7,247
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $11,611
UNITED WHOLESALE MORTGAGE, LLC 1 5.70% $13,945
Ameris Bank 1 6.13% $10,570

The top Charleston USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 6 USDA loans originated. Their average total fees are $6,399, which is $542 lower than the next largest lender, MIDLAND MORTGAGE CORPORATION.

The lowest fee Charleston USDA lenders (with over 10 loans originated) are .

The lowest rate Charleston USDA lenders (with over 10 loans originated) are .