Charleston USDA Loans

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 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.