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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.