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 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 5.97% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

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

The average rate for the prior week (2024-02-23) was 6.02% and one month ago for the week of 2024-01-26, the average rate was 5.88%.

The average rate one year ago was 5.94%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.28%.

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 (2.9%) 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 $405,084 (1.3%) $671,896 (-2.7%) 1.32 5,106
2019-04-01 $413,498 (1.0%) $683,903 (-2.5%) 1.31 5,280
2019-05-01 $416,825 (0.0%) $689,921 (-1.3%) 1.30 5,267
2019-06-01 $419,000 (1.8%) $693,830 (-0.8%) 1.31 5,290
2019-07-01 $419,500 (2.5%) $697,059 (1.7%) 1.31 5,193
2019-08-01 $414,273 (3.8%) $691,066 (1.9%) 1.31 5,136
2019-09-01 $405,682 (1.7%) $681,680 (1.6%) 1.30 5,091
2019-10-01 $399,450 (2.4%) $676,288 (2.8%) 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%) $680,465 (5.0%) 1.33 4,309
2020-02-01 $408,637 (2.2%) $694,666 (4.7%) 1.34 4,288
2020-03-01 $424,000 (4.7%) $700,203 (4.2%) 1.33 4,363
2020-04-01 $413,448 (0.0%) $684,621 (0.1%) 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 (6.1%) $766,423 (10.9%) 1.26 3,314
2020-09-01 $444,260 (9.5%) $768,487 (12.7%) 1.27 3,063
2020-10-01 $435,000 (8.9%) $778,325 (15.1%) 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 $498,000 (21.9%) $883,554 (27.2%) 1.45 1,553
2021-03-01 $496,085 (17.0%) $930,902 (33.0%) 1.41 1,411
2021-04-01 $503,225 (21.7%) $1,027,130 (50.0%) 1.36 1,291
2021-05-01 $531,995 (25.2%) $1,092,470 (55.6%) 1.41 1,216
2021-06-01 $525,000 (22.4%) $1,036,949 (43.7%) 1.38 1,337
2021-07-01 $491,580 (13.1%) $929,946 (25.2%) 1.30 1,593
2021-08-01 $477,450 (8.6%) $890,495 (16.2%) 1.27 1,695
2021-09-01 $454,394 (2.3%) $827,754 (7.7%) 1.21 1,726
2021-10-01 $474,450 (9.1%) $861,184 (10.7%) 1.27 1,572
2021-11-01 $465,755 (7.2%) $867,003 (9.8%) 1.24 1,495
2021-12-01 $467,450 (6.3%) $934,787 (16.2%) 1.27 1,258
2022-01-01 $480,000 (6.7%) $992,618 (20.2%) 1.30 994
2022-02-01 $509,900 (2.4%) $1,090,402 (23.4%) 1.33 817
2022-03-01 $516,238 (4.1%) $1,108,814 (19.1%) 1.29 837
2022-04-01 $530,000 (5.3%) $1,085,844 (5.7%) 1.26 888
2022-05-01 $545,641 (2.6%) $1,053,576 (-3.6%) 1.25 1,170
2022-06-01 $548,125 (4.4%) $1,037,361 (0.0%) 1.22 1,584
2022-07-01 $524,400 (6.7%) $971,783 (4.5%) 1.18 2,015
2022-08-01 $506,733 (6.1%) $927,207 (4.1%) 1.17 2,193
2022-09-01 $500,000 (10.0%) $916,843 (10.8%) 1.17 2,236
2022-10-01 $489,900 (3.3%) $899,714 (4.5%) 1.15 2,446
2022-11-01 $484,973 (4.1%) $893,244 (3.0%) 1.17 2,551
2022-12-01 $479,900 (2.7%) $907,505 (-2.9%) 1.18 2,405
2023-01-01 $479,901 (0.0%) $911,593 (-8.2%) 1.19 2,154
2023-02-01 $497,450 (-2.4%) $985,984 (-9.6%) 1.20 1,950
2023-03-01 $516,672 (0.1%) $1,012,478 (-8.7%) 1.22 1,887
2023-04-01 $538,995 (1.7%) $1,021,015 (-6.0%) 1.25 1,853
2023-05-01 $557,056 (2.1%) $1,073,160 (1.9%) 1.26 1,768
2023-06-01 $554,917 (1.2%) $1,075,972 (3.7%) 1.25 1,910
2023-07-01 $550,000 (4.9%) $1,043,550 (7.4%) 1.25 1,952
2023-08-01 $531,993 (5.0%) $1,006,706 (8.6%) 1.22 2,074
2023-09-01 $525,000 (5.0%) $1,009,585 (10.1%) 1.22 2,318
2023-10-01 $538,248 (9.9%) $1,031,863 (14.7%) 1.27 2,429
2023-11-01 $519,000 (7.0%) $1,000,884 (12.1%) 1.24 2,559
2023-12-01 $500,000 (4.2%) $989,082 (9.0%) 1.22 2,442
2024-01-01 $499,000 (4.0%) $991,096 (8.7%) 1.22 2,242
Charleston's median listing price for 2024-01-01 was $499,000, a difference of $19,099 (4.0%) versus the prior year and $-1,000 versus the prior month.

Charleston's median listing price comes in at 122% of the national average.

Charleston's average listing price for 2024-01-01 was $991,096, a difference of $79,503 (8.7%) versus the prior year and $2,014 versus the prior month.

For the 2024-01-01 period, Charleston had 2,242 MLS listings, a difference of -200 listings (-8%) versus the prior month and 88 listings (4%) 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 91 days 2,277 sqft
2018-02-01 82 days 2,295 sqft
2018-03-01 56 days 2,300 sqft
2018-04-01 58 days 2,312 sqft
2018-05-01 59 days 2,309 sqft
2018-06-01 60 days 2,302 sqft
2018-07-01 64 days 2,283 sqft
2018-08-01 67 days 2,245 sqft
2018-09-01 73 days 2,207 sqft
2018-10-01 72 days 2,176 sqft
2018-11-01 75 days 2,144 sqft
2018-12-01 78 days 2,135 sqft
2019-01-01 86 days 2,136 sqft
2019-02-01 77 days 2,159 sqft
2019-03-01 65 days 2,178 sqft
2019-04-01 58 days 2,210 sqft
2019-05-01 61 days 2,226 sqft
2019-06-01 63 days 2,217 sqft
2019-07-01 66 days 2,218 sqft
2019-08-01 70 days 2,202 sqft
2019-09-01 72 days 2,189 sqft
2019-10-01 74 days 2,180 sqft
2019-11-01 74 days 2,148 sqft
2019-12-01 80 days 2,140 sqft
2020-01-01 86 days 2,139 sqft
2020-02-01 74 days 2,148 sqft
2020-03-01 54 days 2,176 sqft
2020-04-01 59 days 2,183 sqft
2020-05-01 69 days 2,226 sqft
2020-06-01 65 days 2,237 sqft
2020-07-01 59 days 2,233 sqft
2020-08-01 54 days 2,215 sqft
2020-09-01 53 days 2,200 sqft
2020-10-01 52 days 2,174 sqft
2020-11-01 53 days 2,134 sqft
2020-12-01 60 days 2,137 sqft
2021-01-01 66 days 2,148 sqft
2021-02-01 46 days 2,104 sqft
2021-03-01 36 days 2,126 sqft
2021-04-01 33 days 2,172 sqft
2021-05-01 29 days 2,170 sqft
2021-06-01 23 days 2,148 sqft
2021-07-01 24 days 2,170 sqft
2021-08-01 30 days 2,116 sqft
2021-09-01 31 days 2,104 sqft
2021-10-01 37 days 2,090 sqft
2021-11-01 37 days 2,092 sqft
2021-12-01 44 days 2,094 sqft
2022-01-01 53 days 2,148 sqft
2022-02-01 22 days 2,165 sqft
2022-03-01 16 days 2,172 sqft
2022-04-01 16 days 2,166 sqft
2022-05-01 15 days 2,211 sqft
2022-06-01 21 days 2,214 sqft
2022-07-01 28 days 2,221 sqft
2022-08-01 36 days 2,218 sqft
2022-09-01 43 days 2,206 sqft
2022-10-01 45 days 2,185 sqft
2022-11-01 47 days 2,175 sqft
2022-12-01 58 days 2,163 sqft
2023-01-01 69 days 2,188 sqft
2023-02-01 60 days 2,208 sqft
2023-03-01 44 days 2,222 sqft
2023-04-01 38 days 2,244 sqft
2023-05-01 40 days 2,260 sqft
2023-06-01 37 days 2,297 sqft
2023-07-01 39 days 2,263 sqft
2023-08-01 43 days 2,193 sqft
2023-09-01 42 days 2,164 sqft
2023-10-01 45 days 2,151 sqft
2023-11-01 45 days 2,106 sqft
2023-12-01 57 days 2,100 sqft
2024-01-01 65 days 2,100 sqft
Charleston's median listing age (time on market) for 2024-01-01 was 65 days. This is -6% shorter than the same period one year ago.

Charleston's median square footage for active listings during the 2024-01-01 period was 2,100 sqft. One year prior, the average listing was 2,188 sqft.