Charleston USDA Loans

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 5.48% for the week of 2022-08-05, compared to the national average (all USDA variants) of 5.294% for the same period.

    The average rate for the prior week (2022-07-29) was 5.5% and one month ago for the week of 2022-07-01, the average rate was 5.44%.

    The average rate one year ago was 3.12%.

    For refis of the same type during the week of 2022-08-05, the average rate was 4.83%.

    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 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. Total Fees
    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 $399,706 (4.6%) $682,952 (3.1%) 1.47 4,117
    2018-02-01 $409,455 (2.5%) $692,337 (2.6%) 1.48 4,190
    2018-03-01 $416,990 (-0.6%) $710,039 (2.4%) 1.44 4,335
    2018-04-01 $424,440 (0.8%) $721,507 (3.9%) 1.42 4,463
    2018-05-01 $429,000 (3.4%) $720,992 (4.2%) 1.43 4,544
    2018-06-01 $424,900 (3.1%) $721,321 (4.1%) 1.42 4,632
    2018-07-01 $419,900 (2.2%) $707,052 (3.4%) 1.40 4,674
    2018-08-01 $409,165 (-1.4%) $698,166 (2.0%) 1.37 4,664
    2018-09-01 $399,985 (0.0%) $685,130 (0.7%) 1.34 4,757
    2018-10-01 $399,000 (-0.3%) $673,305 (0.0%) 1.33 4,902
    2018-11-01 $395,000 (-1.3%) $669,954 (-0.3%) 1.32 4,959
    2018-12-01 $390,999 (-2.3%) $665,974 (-2.5%) 1.34 4,684
    2019-01-01 $394,220 (-1.4%) $664,933 (-2.6%) 1.36 4,514
    2019-02-01 $407,850 (-0.4%) $681,357 (-1.6%) 1.37 4,609
    2019-03-01 $418,143 (0.3%) $692,189 (-2.5%) 1.36 4,715
    2019-04-01 $429,000 (1.1%) $705,890 (-2.2%) 1.35 4,869
    2019-05-01 $431,200 (0.5%) $711,442 (-1.3%) 1.33 4,897
    2019-06-01 $434,900 (2.4%) $715,739 (-0.8%) 1.34 4,880
    2019-07-01 $434,950 (3.6%) $717,509 (1.5%) 1.35 4,834
    2019-08-01 $430,671 (5.3%) $715,929 (2.5%) 1.36 4,695
    2019-09-01 $421,950 (5.5%) $707,804 (3.3%) 1.34 4,627
    2019-10-01 $416,000 (4.3%) $699,702 (3.9%) 1.33 4,654
    2019-11-01 $415,000 (5.1%) $707,026 (5.5%) 1.34 4,547
    2019-12-01 $414,095 (5.9%) $707,172 (6.2%) 1.38 4,250
    2020-01-01 $419,500 (6.4%) $713,029 (7.2%) 1.40 3,923
    2020-02-01 $430,000 (5.4%) $726,486 (6.6%) 1.39 3,912
    2020-03-01 $442,500 (5.8%) $734,095 (6.1%) 1.38 3,994
    2020-04-01 $435,400 (1.5%) $716,655 (1.5%) 1.36 4,061
    2020-05-01 $450,000 (4.4%) $741,449 (4.2%) 1.36 3,899
    2020-06-01 $450,000 (3.5%) $760,985 (6.3%) 1.31 3,592
    2020-07-01 $462,500 (6.3%) $783,532 (9.2%) 1.33 3,276
    2020-08-01 $472,500 (9.7%) $808,563 (12.9%) 1.35 3,038
    2020-09-01 $482,495 (14.4%) $811,976 (14.7%) 1.38 2,775
    2020-10-01 $475,000 (14.2%) $823,627 (17.7%) 1.36 2,681
    2020-11-01 $480,000 (15.7%) $841,801 (19.1%) 1.37 2,456
    2020-12-01 $494,933 (19.5%) $865,273 (22.4%) 1.45 2,182
    2021-01-01 $524,000 (24.9%) $893,481 (25.3%) 1.54 1,781
    2021-02-01 $550,000 (27.9%) $959,249 (32.0%) 1.58 1,350
    2021-03-01 $550,000 (24.3%) $1,003,907 (36.8%) 1.54 1,223
    2021-04-01 $550,000 (26.3%) $1,090,648 (52.2%) 1.48 1,137
    2021-05-01 $574,990 (27.8%) $1,140,346 (53.8%) 1.51 1,094
    2021-06-01 $560,498 (24.6%) $1,097,633 (44.2%) 1.46 1,185
    2021-07-01 $520,000 (12.4%) $1,006,409 (28.5%) 1.35 1,371
    2021-08-01 $497,275 (5.2%) $949,382 (17.4%) 1.31 1,462
    2021-09-01 $477,750 (-1.0%) $883,759 (8.8%) 1.26 1,477
    2021-10-01 $491,490 (3.5%) $900,272 (9.3%) 1.29 1,370
    2021-11-01 $480,224 (0.1%) $921,973 (9.5%) 1.27 1,283
    2021-12-01 $488,000 (-1.4%) $1,001,312 (15.7%) 1.30 1,082
    2022-01-01 $500,000 (-4.6%) $1,074,447 (20.3%) 1.33 834
    2022-02-01 $574,990 (4.5%) $1,193,813 (24.5%) 1.47 690
    2022-03-01 $576,750 (4.9%) $1,209,180 (20.5%) 1.42 705
    2022-04-01 $585,000 (6.4%) $1,188,113 (8.9%) 1.38 724
    2022-05-01 $587,515 (2.2%) $1,132,963 (-0.7%) 1.31 959
    2022-06-01 $574,995 (2.6%) $1,105,906 (0.8%) 1.28 1,329
    Charleston's median listing price for 2022-06-01 was $574,995, a difference of $14,497 (2.6%) versus the prior year and $-12,520 versus the prior month.

    Charleston's median listing price comes in at 128% of the national average.

    Charleston's average listing price for 2022-06-01 was $1,105,906, a difference of $8,273 (0.8%) versus the prior year and $-27,057 versus the prior month.

    For the 2022-06-01 period, Charleston had 1,329 MLS listings, a difference of 370 listings (39%) versus the prior month and 144 listings (12%) 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
    2018-01-01 101 days 2,284 sqft
    2018-02-01 96 days 2,300 sqft
    2018-03-01 64 days 2,301 sqft
    2018-04-01 66 days 2,313 sqft
    2018-05-01 67 days 2,316 sqft
    2018-06-01 71 days 2,307 sqft
    2018-07-01 73 days 2,289 sqft
    2018-08-01 78 days 2,248 sqft
    2018-09-01 80 days 2,212 sqft
    2018-10-01 81 days 2,177 sqft
    2018-11-01 85 days 2,139 sqft
    2018-12-01 91 days 2,125 sqft
    2019-01-01 97 days 2,123 sqft
    2019-02-01 93 days 2,146 sqft
    2019-03-01 66 days 2,169 sqft
    2019-04-01 66 days 2,207 sqft
    2019-05-01 69 days 2,221 sqft
    2019-06-01 71 days 2,211 sqft
    2019-07-01 74 days 2,216 sqft
    2019-08-01 78 days 2,197 sqft
    2019-09-01 86 days 2,176 sqft
    2019-10-01 84 days 2,170 sqft
    2019-11-01 84 days 2,140 sqft
    2019-12-01 88 days 2,132 sqft
    2020-01-01 94 days 2,129 sqft
    2020-02-01 88 days 2,143 sqft
    2020-03-01 64 days 2,168 sqft
    2020-04-01 68 days 2,173 sqft
    2020-05-01 78 days 2,226 sqft
    2020-06-01 83 days 2,227 sqft
    2020-07-01 71 days 2,220 sqft
    2020-08-01 65 days 2,212 sqft
    2020-09-01 63 days 2,190 sqft
    2020-10-01 62 days 2,143 sqft
    2020-11-01 63 days 2,092 sqft
    2020-12-01 71 days 2,096 sqft
    2021-01-01 78 days 2,108 sqft
    2021-02-01 65 days 2,068 sqft
    2021-03-01 47 days 2,100 sqft
    2021-04-01 44 days 2,139 sqft
    2021-05-01 38 days 2,163 sqft
    2021-06-01 30 days 2,126 sqft
    2021-07-01 30 days 2,150 sqft
    2021-08-01 35 days 2,089 sqft
    2021-09-01 35 days 2,081 sqft
    2021-10-01 42 days 2,044 sqft
    2021-11-01 42 days 2,037 sqft
    2021-12-01 49 days 2,102 sqft
    2022-01-01 62 days 2,146 sqft
    2022-02-01 29 days 2,161 sqft
    2022-03-01 24 days 2,165 sqft
    2022-04-01 21 days 2,160 sqft
    2022-05-01 18 days 2,201 sqft
    2022-06-01 22 days 2,212 sqft
    Charleston's median listing age (time on market) for 2022-06-01 was 22 days. This is -27% shorter than the same period one year ago.

    Charleston's median square footage for active listings during the 2022-06-01 period was 2,212 sqft. One year prior, the average listing was 2,126 sqft.