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 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.