Charleston USDA Loan Rates, Closing Costs & Stats

CHARLESTON-NORTH CHARLESTON, 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.

    Charleston's 56 lenders originated 201 USDA loans during 2021. The total origination value was $61,215,000, with an average USDA loan value of $304,552.

    Charleston USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Charleston averaged -0.11% for the week of 2022-11-25, compared to the national average (all USDA variants) of 0% for the same period.

    Charleston's average USDA mortgage closing costs are $6,051.

    The average rate for the prior week (2022-11-18) was 6.74% and one month ago for the week of 2022-10-21, the average rate was 6.85%.

    The average rate one year ago was 3.39%.

    For refis of the same type during the week of 2022-11-25, the average rate was -0.26%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 14 2.67% $5,978
    MOVEMENT MORTGAGE, LLC 14 2.96% $6,464
    NTFN, INC. 12 2.89% $5,301
    GUILD MORTGAGE COMPANY 12 2.94% $6,202
    MIDLAND MORTGAGE CORPORATION 8 2.91% $4,965
    EAGLE HOME MORTGAGE, LLC 7 3.18% $7,797
    Colten Mortgage, LLC 7 3.18% $5,204
    Flagstar Bank, FSB 6 2.66% $4,906
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 3.06% $7,069
    VANDERBILT MORTGAGE AND FINANCE, INC. 6 2.94% $6,638
    CORNERSTONE HOME LENDING, INC. 6 3.17% $7,383
    CMG MORTGAGE, INC. 5 2.85% $7,533
    HOMEBRIDGE FINANCIAL SERVICES, INC. 5 3.05% $7,099
    Paramount Residential Mortgage Group, Inc. 5 3.53% $12,528
    Ameris Bank 5 2.90% $6,546
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 3.06% $7,003
    BROKER SOLUTIONS, INC. 4 3.15% $5,338
    Prosperity Home Mortgage, LLC 4 2.94% $6,530
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 3.16% $10,395
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 3.38% $7,220
    SUCCESS MORTGAGE PARTNERS, INC. 2 2.88% $5,074
    Carrington Mortgage Services, LLC 2 3.13% $11,615
    INTERLINC MORTGAGE SERVICES, LLC 2 3.06% $4,706
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 2.69% $7,613
    EQUITY RESOURCES, INC. 2 2.44% $6,594
    PENNYMAC LOAN SERVICES, LLC 2 2.75% $7,403
    LOANDEPOT.COM, LLC 2 3.13% $6,473
    AMERICAN FINANCIAL RESOURCES, INC. 2 2.50% $6,451
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 3.31% $4,996
    KELLER MORTGAGE, LLC 1 2.75% $4,611
    Atlantic Coast Mortgage, LLC 1 2.63% $6,443
    CALCON MUTUAL MORTGAGE LLC 1 3.50% $15,278
    CALIBER HOME LOANS, INC. 1 3.38% $6,678
    CAROLINA ONE MORTGAGE, LLC 1 3.25% $5,492
    Countybank 1 2.50% $6,926
    CROSSCOUNTRY MORTGAGE, LLC 1 3.38% $7,322
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.63% $7,391
    FAMILY FIRST FUNDING LLC 1 3.00% $4,758
    FIRST HOME MORTGAGE CORPORATION 1 2.88% $5,580
    First Palmetto Bank 1 2.75% $5,500
    Gateway First Bank 1 2.63% $6,842
    GENEVA FINANCIAL, LLC 1 2.38% $8,635
    GUARANTEED RATE AFFINITY, LLC 1 3.00% $6,761
    HOME POINT FINANCIAL CORPORATION 1 2.50% $6,421
    Hometown Equity Mortgage, LLC 1 2.38% $7,014
    HomeTrust Bank 1 2.50% $6,163
    Alcova Mortgage LLC 1 3.25% $2,057
    LAKEVIEW LOAN SERVICING, LLC 1 3.25% $2,494
    NATIONS RELIABLE LENDING, LLC 1 3.00% $5,443
    PLAZA HOME MORTGAGE, INC. 1 3.13% $6,709
    PULTE MORTGAGE LLC 1 3.00% $3,499
    Regions Bank 1 2.75% $3,775
    Sierra Pacific Mortgage Company, Inc. 1 2.88% $4,528
    South State Bank 1 2.50% $6,762
    STEARNS LENDING, LLC 1 2.63% $7,238
    TOWNE MORTGAGE COMPANY 1 2.25% $11,310

    The top Charleston USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 14 USDA loans originated. Their average total fees are $5,978, which is $487 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Charleston USDA lenders (with over 10 loans originated) are NTFN, INC. ($5,301), DHI MORTGAGE COMPANY, LTD. ($5,978), GUILD MORTGAGE COMPANY ($6,202), MOVEMENT MORTGAGE, LLC ($6,464) and .

    The lowest rate Charleston USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (2.67%), NTFN, INC. (2.89%), GUILD MORTGAGE COMPANY (2.94%), MOVEMENT MORTGAGE, LLC (2.96%) and .

    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 $393,945 (5.2%) $666,998 (3.0%) 1.46 4,315
    2018-02-01 $398,615 (3.7%) $671,931 (2.0%) 1.45 4,444
    2018-03-01 $400,000 (0.0%) $690,847 (1.9%) 1.40 4,595
    2018-04-01 $409,450 (-0.1%) $701,666 (3.0%) 1.39 4,743
    2018-05-01 $417,000 (4.0%) $699,033 (2.9%) 1.39 4,819
    2018-06-01 $411,760 (3.1%) $699,625 (3.3%) 1.37 4,902
    2018-07-01 $409,425 (2.4%) $685,760 (2.2%) 1.37 4,934
    2018-08-01 $399,125 (-0.2%) $677,912 (0.8%) 1.34 4,936
    2018-09-01 $399,000 (0.7%) $670,709 (0.4%) 1.34 5,020
    2018-10-01 $390,000 (-1.4%) $657,703 (-0.4%) 1.32 5,187
    2018-11-01 $389,000 (-1.5%) $654,672 (-0.4%) 1.32 5,257
    2018-12-01 $385,000 (-2.5%) $648,741 (-2.7%) 1.33 4,969
    2019-01-01 $387,835 (-1.6%) $648,218 (-2.8%) 1.34 4,844
    2019-02-01 $399,700 (0.3%) $663,664 (-1.2%) 1.35 4,946
    2019-03-01 $404,731 (1.2%) $671,699 (-2.8%) 1.32 5,102
    2019-04-01 $413,087 (0.9%) $683,764 (-2.6%) 1.31 5,269
    2019-05-01 $416,575 (-0.1%) $689,659 (-1.3%) 1.30 5,277
    2019-06-01 $419,000 (1.8%) $693,394 (-0.9%) 1.31 5,297
    2019-07-01 $419,450 (2.5%) $696,565 (1.6%) 1.31 5,200
    2019-08-01 $414,197 (3.8%) $690,509 (1.9%) 1.31 5,144
    2019-09-01 $405,643 (1.7%) $681,114 (1.6%) 1.30 5,100
    2019-10-01 $399,450 (2.4%) $675,714 (2.7%) 1.29 5,051
    2019-11-01 $399,000 (2.6%) $680,673 (4.0%) 1.31 4,935
    2019-12-01 $398,125 (3.4%) $680,231 (4.9%) 1.33 4,618
    2020-01-01 $399,450 (3.0%) $679,678 (4.9%) 1.33 4,317
    2020-02-01 $406,990 (1.8%) $693,841 (4.6%) 1.33 4,297
    2020-03-01 $421,276 (4.1%) $699,371 (4.1%) 1.32 4,373
    2020-04-01 $412,454 (-0.2%) $683,841 (0.0%) 1.29 4,458
    2020-05-01 $425,000 (2.0%) $701,364 (1.7%) 1.29 4,317
    2020-06-01 $429,000 (2.4%) $720,715 (3.9%) 1.26 3,955
    2020-07-01 $433,171 (3.3%) $741,819 (6.5%) 1.26 3,617
    2020-08-01 $439,000 (6.0%) $765,122 (10.8%) 1.26 3,324
    2020-09-01 $443,100 (9.2%) $767,051 (12.6%) 1.27 3,073
    2020-10-01 $435,000 (8.9%) $777,523 (15.1%) 1.25 2,940
    2020-11-01 $433,700 (8.7%) $788,981 (15.9%) 1.27 2,750
    2020-12-01 $439,875 (10.5%) $803,309 (18.1%) 1.31 2,466
    2021-01-01 $449,902 (12.6%) $824,252 (21.3%) 1.34 2,050
    2021-02-01 $499,499 (22.7%) $886,384 (27.8%) 1.45 1,564
    2021-03-01 $494,390 (17.4%) $929,542 (32.9%) 1.40 1,422
    2021-04-01 $500,000 (21.2%) $1,024,363 (49.8%) 1.35 1,302
    2021-05-01 $531,627 (25.1%) $1,089,212 (55.3%) 1.41 1,227
    2021-06-01 $525,000 (22.4%) $1,034,826 (43.6%) 1.38 1,347
    2021-07-01 $491,990 (13.6%) $933,559 (25.9%) 1.30 1,604
    2021-08-01 $479,465 (9.2%) $890,942 (16.4%) 1.28 1,705
    2021-09-01 $454,643 (2.6%) $827,788 (7.9%) 1.21 1,736
    2021-10-01 $474,000 (9.0%) $860,811 (10.7%) 1.26 1,583
    2021-11-01 $465,000 (7.2%) $867,847 (10.0%) 1.24 1,506
    2021-12-01 $467,617 (6.3%) $934,741 (16.4%) 1.27 1,269
    2022-01-01 $480,990 (6.9%) $992,341 (20.4%) 1.30 1,005
    2022-02-01 $507,699 (1.6%) $1,088,405 (22.8%) 1.32 828
    2022-03-01 $513,508 (3.9%) $1,103,385 (18.7%) 1.29 848
    2022-04-01 $525,000 (5.0%) $1,084,451 (5.9%) 1.25 899
    2022-05-01 $547,496 (3.0%) $1,056,168 (-3.0%) 1.25 1,181
    2022-06-01 $547,059 (4.2%) $1,036,719 (0.2%) 1.22 1,594
    2022-07-01 $524,990 (6.7%) $978,820 (4.9%) 1.19 2,024
    2022-08-01 $505,073 (5.3%) $930,531 (4.4%) 1.17 2,204
    2022-09-01 $500,000 (10.0%) $918,908 (11.0%) 1.17 2,247
    2022-10-01 $494,394 (4.3%) $901,298 (4.7%) 1.16 2,457
    Charleston's median listing price for 2022-10-01 was $494,394, a difference of $20,394 (4.3%) versus the prior year and $-5,606 versus the prior month.

    Charleston's median listing price comes in at 116% of the national average.

    Charleston's average listing price for 2022-10-01 was $901,298, a difference of $40,487 (4.7%) versus the prior year and $-17,610 versus the prior month.

    For the 2022-10-01 period, Charleston had 2,457 MLS listings, a difference of 210 listings (9%) versus the prior month and 874 listings (55%) 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 99 days 2,277 sqft
    2018-02-01 93 days 2,295 sqft
    2018-03-01 64 days 2,300 sqft
    2018-04-01 65 days 2,311 sqft
    2018-05-01 66 days 2,308 sqft
    2018-06-01 70 days 2,302 sqft
    2018-07-01 72 days 2,282 sqft
    2018-08-01 78 days 2,244 sqft
    2018-09-01 81 days 2,206 sqft
    2018-10-01 80 days 2,176 sqft
    2018-11-01 83 days 2,144 sqft
    2018-12-01 89 days 2,135 sqft
    2019-01-01 95 days 2,135 sqft
    2019-02-01 91 days 2,158 sqft
    2019-03-01 76 days 2,178 sqft
    2019-04-01 66 days 2,208 sqft
    2019-05-01 68 days 2,226 sqft
    2019-06-01 71 days 2,215 sqft
    2019-07-01 74 days 2,217 sqft
    2019-08-01 77 days 2,202 sqft
    2019-09-01 79 days 2,189 sqft
    2019-10-01 82 days 2,179 sqft
    2019-11-01 84 days 2,146 sqft
    2019-12-01 88 days 2,138 sqft
    2020-01-01 94 days 2,135 sqft
    2020-02-01 86 days 2,144 sqft
    2020-03-01 62 days 2,174 sqft
    2020-04-01 66 days 2,180 sqft
    2020-05-01 75 days 2,223 sqft
    2020-06-01 78 days 2,234 sqft
    2020-07-01 68 days 2,230 sqft
    2020-08-01 61 days 2,212 sqft
    2020-09-01 59 days 2,197 sqft
    2020-10-01 58 days 2,173 sqft
    2020-11-01 59 days 2,132 sqft
    2020-12-01 66 days 2,134 sqft
    2021-01-01 73 days 2,147 sqft
    2021-02-01 55 days 2,102 sqft
    2021-03-01 42 days 2,121 sqft
    2021-04-01 38 days 2,166 sqft
    2021-05-01 31 days 2,168 sqft
    2021-06-01 25 days 2,144 sqft
    2021-07-01 26 days 2,169 sqft
    2021-08-01 33 days 2,109 sqft
    2021-09-01 33 days 2,102 sqft
    2021-10-01 39 days 2,086 sqft
    2021-11-01 38 days 2,080 sqft
    2021-12-01 46 days 2,090 sqft
    2022-01-01 57 days 2,140 sqft
    2022-02-01 26 days 2,153 sqft
    2022-03-01 17 days 2,168 sqft
    2022-04-01 16 days 2,163 sqft
    2022-05-01 16 days 2,206 sqft
    2022-06-01 21 days 2,210 sqft
    2022-07-01 29 days 2,218 sqft
    2022-08-01 37 days 2,212 sqft
    2022-09-01 44 days 2,204 sqft
    2022-10-01 46 days 2,178 sqft
    Charleston's median listing age (time on market) for 2022-10-01 was 46 days. This is 18% longer than the same period one year ago.

    Charleston's median square footage for active listings during the 2022-10-01 period was 2,178 sqft. One year prior, the average listing was 2,086 sqft.