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 24 lenders originated 37 USDA loans during 2022. The total origination value was $10,275,000, with an average USDA loan value of $277,703.

    Charleston USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Charleston averaged 5.87% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

    Charleston's average USDA mortgage closing costs are $6,129.

    The average rate for the prior week (2023-05-19) was 5.81% and one month ago for the week of 2023-04-21, the average rate was 5.82%.

    The average rate one year ago was 4.64%.

    For refis of the same type during the week of 2023-05-26, the average rate was 4.98%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 7 3.60% $6,973
    MOVEMENT MORTGAGE, LLC 2 3.19% $6,928
    CROSSCOUNTRY MORTGAGE, LLC 2 4.38% $14,150
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.50% $9,320
    UNITED WHOLESALE MORTGAGE, LLC 2 4.19% $7,073
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 3.63% $7,006
    CMG MORTGAGE, INC. 2 4.00% $6,768
    Gateway First Bank 1 3.75% $9,429
    GENEVA FINANCIAL, LLC 1 3.75% $7,433
    Alcova Mortgage LLC 1 3.63% $7,626
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.00% $10,474
    HOME POINT FINANCIAL CORPORATION 1 2.25% $6,245
    INTERLINC MORTGAGE SERVICES, LLC 1 4.38% $2,768
    MIDLAND MORTGAGE CORPORATION 1 5.13% $2,266
    Mortgage Network, Inc. 1 3.50% $5,924
    Paramount Residential Mortgage Group, Inc. 1 4.25% $14,430
    PLAZA HOME MORTGAGE, INC. 1 5.13% $4,317
    GUILD MORTGAGE COMPANY 1 2.63% $10,248
    Amerifirst Financial, Inc. 1 3.75% $5,221
    ANGEL OAK HOME LOANS LLC 1 2.88% $6,350
    CALIBER HOME LOANS, INC. 1 2.25% $14,461
    EAGLE HOME MORTGAGE, LLC 1 3.75% $7,305
    EQUITY RESOURCES, INC. 1 3.25% $5,884
    Flagstar Bank, FSB 1 4.44% $6,024

    The top Charleston USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 7 USDA loans originated. Their average total fees are $6,973, which is $45 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

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

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

    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 $410,000 (2.5%) $670,057 (-3.0%) 1.37 5,149
    2019-04-01 $416,999 (1.8%) $686,427 (-2.2%) 1.32 5,282
    2019-05-01 $416,700 (-0.1%) $689,765 (-1.3%) 1.30 5,270
    2019-06-01 $419,000 (1.8%) $693,852 (-0.8%) 1.31 5,290
    2019-07-01 $419,500 (2.5%) $697,059 (1.7%) 1.31 5,193
    2019-08-01 $418,950 (5.0%) $694,553 (2.5%) 1.31 5,157
    2019-09-01 $416,725 (4.4%) $703,470 (4.9%) 1.31 4,753
    2019-10-01 $399,000 (2.3%) $675,722 (2.7%) 1.29 5,042
    2019-11-01 $399,000 (2.6%) $681,384 (4.1%) 1.31 4,926
    2019-12-01 $398,840 (3.6%) $680,979 (5.0%) 1.33 4,609
    2020-01-01 $399,450 (3.0%) $680,482 (5.0%) 1.33 4,308
    2020-02-01 $408,637 (2.2%) $694,666 (4.7%) 1.34 4,288
    2020-03-01 $424,000 (3.4%) $700,203 (4.5%) 1.33 4,363
    2020-04-01 $413,448 (-0.9%) $684,621 (-0.3%) 1.30 4,448
    2020-05-01 $425,000 (2.0%) $702,207 (1.8%) 1.29 4,308
    2020-06-01 $429,000 (2.4%) $721,671 (4.0%) 1.26 3,946
    2020-07-01 $434,500 (3.6%) $742,908 (6.6%) 1.26 3,608
    2020-08-01 $439,500 (4.9%) $766,423 (10.4%) 1.26 3,314
    2020-09-01 $444,260 (6.6%) $768,487 (9.2%) 1.27 3,063
    2020-10-01 $435,000 (9.0%) $778,325 (15.2%) 1.25 2,930
    2020-11-01 $434,500 (8.9%) $789,870 (15.9%) 1.27 2,740
    2020-12-01 $439,923 (10.3%) $804,344 (18.1%) 1.31 2,456
    2021-01-01 $450,000 (12.7%) $825,770 (21.4%) 1.34 2,039
    2021-02-01 $499,950 (22.4%) $888,745 (27.9%) 1.45 1,553
    2021-03-01 $497,000 (17.2%) $932,484 (33.2%) 1.41 1,411
    2021-04-01 $504,425 (22.0%) $1,028,340 (50.2%) 1.37 1,291
    2021-05-01 $534,685 (25.8%) $1,093,966 (55.8%) 1.42 1,216
    2021-06-01 $525,000 (22.4%) $1,038,583 (43.9%) 1.38 1,337
    2021-07-01 $493,000 (13.5%) $935,756 (26.0%) 1.30 1,594
    2021-08-01 $480,000 (9.2%) $892,513 (16.5%) 1.28 1,696
    2021-09-01 $455,995 (2.6%) $829,102 (7.9%) 1.22 1,727
    2021-10-01 $474,999 (9.2%) $862,685 (10.8%) 1.27 1,573
    2021-11-01 $466,250 (7.3%) $869,815 (10.1%) 1.25 1,496
    2021-12-01 $468,628 (6.5%) $937,621 (16.6%) 1.27 1,259
    2022-01-01 $483,947 (7.5%) $996,779 (20.7%) 1.31 995
    2022-02-01 $512,076 (2.4%) $1,095,275 (23.2%) 1.33 817
    2022-03-01 $515,000 (3.6%) $1,110,405 (19.1%) 1.29 837
    2022-04-01 $528,000 (4.7%) $1,090,265 (6.0%) 1.26 888
    2022-05-01 $548,978 (2.7%) $1,061,026 (-3.0%) 1.25 1,170
    2022-06-01 $549,200 (4.6%) $1,040,074 (0.1%) 1.22 1,583
    2022-07-01 $524,995 (6.5%) $981,255 (4.9%) 1.19 2,014
    2022-08-01 $506,029 (5.4%) $932,098 (4.4%) 1.17 2,193
    2022-09-01 $500,000 (9.7%) $920,710 (11.1%) 1.17 2,236
    2022-10-01 $494,945 (4.2%) $902,875 (4.7%) 1.16 2,446
    2022-11-01 $485,495 (4.1%) $896,358 (3.1%) 1.17 2,551
    2022-12-01 $479,900 (2.4%) $908,272 (-3.1%) 1.18 2,405
    2023-01-01 $484,999 (0.2%) $917,262 (-8.0%) 1.20 2,154
    2023-02-01 $498,323 (-2.7%) $989,710 (-9.6%) 1.20 1,950
    2023-03-01 $521,784 (1.3%) $1,019,231 (-8.2%) 1.23 1,887
    2023-04-01 $539,900 (2.3%) $1,025,690 (-5.9%) 1.26 1,853
    Charleston's median listing price for 2023-04-01 was $539,900, a difference of $11,900 (2.3%) versus the prior year and $18,116 versus the prior month.

    Charleston's median listing price comes in at 126% of the national average.

    Charleston's average listing price for 2023-04-01 was $1,025,690, a difference of $-64,575 (-5.9%) versus the prior year and $6,459 versus the prior month.

    For the 2023-04-01 period, Charleston had 1,853 MLS listings, a difference of -34 listings (-2%) versus the prior month and 965 listings (109%) 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 2,312 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 2,245 sqft
    2018-09-01 81 days 2,207 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 66 days 2,187 sqft
    2019-04-01 65 days 2,209 sqft
    2019-05-01 68 days 2,227 sqft
    2019-06-01 71 days 2,217 sqft
    2019-07-01 73 days 2,218 sqft
    2019-08-01 85 days 2,207 sqft
    2019-09-01 91 days 2,205 sqft
    2019-10-01 82 days 2,178 sqft
    2019-11-01 84 days 2,148 sqft
    2019-12-01 88 days 2,139 sqft
    2020-01-01 94 days 2,139 sqft
    2020-02-01 86 days 2,147 sqft
    2020-03-01 62 days 2,176 sqft
    2020-04-01 65 days 2,183 sqft
    2020-05-01 75 days 2,226 sqft
    2020-06-01 77 days 2,237 sqft
    2020-07-01 67 days 2,232 sqft
    2020-08-01 61 days 2,215 sqft
    2020-09-01 59 days 2,200 sqft
    2020-10-01 58 days 2,174 sqft
    2020-11-01 58 days 2,135 sqft
    2020-12-01 65 days 2,137 sqft
    2021-01-01 72 days 2,148 sqft
    2021-02-01 53 days 2,104 sqft
    2021-03-01 41 days 2,123 sqft
    2021-04-01 37 days 2,169 sqft
    2021-05-01 31 days 2,170 sqft
    2021-06-01 25 days 2,146 sqft
    2021-07-01 25 days 2,174 sqft
    2021-08-01 32 days 2,115 sqft
    2021-09-01 32 days 2,104 sqft
    2021-10-01 38 days 2,089 sqft
    2021-11-01 38 days 2,085 sqft
    2021-12-01 45 days 2,095 sqft
    2022-01-01 57 days 2,146 sqft
    2022-02-01 25 days 2,157 sqft
    2022-03-01 17 days 2,173 sqft
    2022-04-01 16 days 2,164 sqft
    2022-05-01 16 days 2,206 sqft
    2022-06-01 21 days 2,213 sqft
    2022-07-01 29 days 2,219 sqft
    2022-08-01 37 days 2,214 sqft
    2022-09-01 44 days 2,205 sqft
    2022-10-01 46 days 2,180 sqft
    2022-11-01 48 days 2,174 sqft
    2022-12-01 59 days 2,157 sqft
    2023-01-01 70 days 2,186 sqft
    2023-02-01 63 days 2,208 sqft
    2023-03-01 46 days 2,223 sqft
    2023-04-01 40 days 2,246 sqft
    Charleston's median listing age (time on market) for 2023-04-01 was 40 days. This is 150% longer than the same period one year ago.

    Charleston's median square footage for active listings during the 2023-04-01 period was 2,246 sqft. One year prior, the average listing was 2,164 sqft.