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
6.37%
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 $6,184.
The average rate for the prior week (2024-04-12) was
6.62% and
one month ago for the week of 2024-03-15, the
average rate was 6.31%.
The average rate one year ago was 5.95%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.76%.
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
.
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 |
| 2024-02-01 | $494,500 (-0.6%) | $988,382 (0.2%) | 1.19 | 2,253 |
| 2024-03-01 | $508,990 (-1.5%) | $1,010,147 (-0.2%) | 1.20 | 2,358 |
Charleston's median listing price comes in at 120% of the national average.
Charleston's average listing price for 2024-03-01 was $1,010,147, a difference of $-2,331 (-0.2%) versus the prior year and $21,765 versus the prior month.
For the 2024-03-01 period, Charleston had 2,358 MLS listings, a difference of 105 listings (5%) versus the prior month and 471 listings (25%) 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 |
| 2024-02-01 | 48 days | 2,100 sqft |
| 2024-03-01 | 39 days | 2,106 sqft |
Charleston's median square footage for active listings during the 2024-03-01 period was 2,106 sqft. One year prior, the average listing was 2,222 sqft.