Charleston USDA Loan Rates, Closing Costs & Stats

CHARLESTON, WV

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 20 lenders originated 124 USDA loans during 2022. The total origination value was $16,390,000, with an average USDA loan value of $132,177.

Charleston USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Charleston averaged 6.56% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

Charleston's average USDA mortgage closing costs are $4,271.

The average rate for the prior week (2023-05-19) was 6.41% and one month ago for the week of 2023-04-21, the average rate was 6.01%.

The average rate one year ago was 5.03%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.44%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Gateway First Bank 36 5.31% $3,280
Victorian Finance, LLC 22 4.65% $5,210
MOVEMENT MORTGAGE, LLC 14 4.92% $5,803
PRIMELENDING, A PLAINSCAPITAL COMPANY 12 5.47% $6,016
Equity Prime Mortgage LLC 7 4.80% $5,003
LOANDEPOT.COM, LLC 6 4.58% $5,306
LIBERTY HOME MORTGAGE CORPORATION 5 5.55% $4,317
UNION HOME MORTGAGE CORP. 3 3.75% $4,436
WesBanco Bank, Inc. 2 3.81% $5,148
SIWELL, INC. 2 3.06% $5,284
DAS Acquisition Company, LLC 2 5.13% $6,188
Mortgage Research Center, LLC 1 5.50% $2,364
Bank of England 1 7.13% $5,682
LAKEVIEW LOAN SERVICING, LLC 1 3.75% $3,610
MCLEAN MORTGAGE CORPORATION 1 4.63% $9,891
MORIA DEVELOPMENT, INC. 1 5.13% $6,333
Alcova Mortgage LLC 1 5.63% $960
POLARIS HOME FUNDING CORP. 1 5.13% $6,737
Sierra Pacific Mortgage Company, Inc. 1 3.88% $7,433
U.S. Bank 1 5.50% $4,392

The top Charleston USDA lender as defined by loan originations is Gateway First Bank, with 36 USDA loans originated. Their average total fees are $3,280, which is $1,930 lower than the next largest lender, Victorian Finance, LLC.

The lowest fee Charleston USDA lenders (with over 10 loans originated) are Gateway First Bank ($3,280), Victorian Finance, LLC ($5,210), MOVEMENT MORTGAGE, LLC ($5,803), PRIMELENDING, A PLAINSCAPITAL COMPANY ($6,016) and .

The lowest rate Charleston USDA lenders (with over 10 loans originated) are Victorian Finance, LLC (4.65%), MOVEMENT MORTGAGE, LLC (4.92%), Gateway First Bank (5.31%), PRIMELENDING, A PLAINSCAPITAL COMPANY (5.47%) 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 $137,125 (-1.4%) $214,526 (1.5%) 0.51 1,174
2018-02-01 $139,450 (-0.3%) $217,270 (-0.4%) 0.51 1,161
2018-03-01 $139,900 (0.3%) $221,037 (0.8%) 0.49 1,166
2018-04-01 $145,000 (2.1%) $229,065 (1.7%) 0.49 1,191
2018-05-01 $142,225 (-1.7%) $225,532 (1.1%) 0.48 1,250
2018-06-01 $144,900 (-1.1%) $225,693 (1.8%) 0.48 1,290
2018-07-01 $145,000 (-2.7%) $227,935 (2.8%) 0.48 1,330
2018-08-01 $145,000 (-3.0%) $228,592 (3.5%) 0.49 1,346
2018-09-01 $146,750 (-1.4%) $231,141 (5.2%) 0.49 1,367
2018-10-01 $149,800 (3.3%) $232,017 (6.8%) 0.51 1,308
2018-11-01 $149,450 (4.7%) $235,903 (9.6%) 0.51 1,267
2018-12-01 $145,000 (2.1%) $234,197 (8.0%) 0.50 1,201
2019-01-01 $147,000 (7.2%) $234,623 (9.4%) 0.51 1,127
2019-02-01 $149,125 (6.9%) $238,803 (9.9%) 0.50 1,123
2019-03-01 $145,000 (3.7%) $235,007 (6.3%) 0.48 1,134
2019-04-01 $149,900 (3.4%) $239,138 (4.4%) 0.48 1,116
2019-05-01 $149,900 (5.4%) $242,672 (7.6%) 0.47 1,153
2019-06-01 $149,900 (3.5%) $240,995 (6.8%) 0.47 1,217
2019-07-01 $149,250 (2.9%) $231,504 (1.6%) 0.47 1,247
2019-08-01 $149,375 (3.0%) $226,672 (-0.8%) 0.47 1,249
2019-09-01 $149,900 (2.2%) $227,117 (-1.7%) 0.47 1,203
2019-10-01 $149,900 (0.1%) $224,413 (-3.3%) 0.48 1,223
2019-11-01 $149,000 (-0.3%) $221,567 (-6.1%) 0.49 1,197
2019-12-01 $148,000 (2.1%) $224,519 (-4.1%) 0.49 1,146
2020-01-01 $145,000 (-1.4%) $228,845 (-2.5%) 0.48 1,086
2020-02-01 $146,000 (-2.1%) $228,200 (-4.4%) 0.48 1,040
2020-03-01 $149,950 (3.4%) $236,751 (0.7%) 0.47 1,006
2020-04-01 $156,350 (4.3%) $240,891 (0.7%) 0.49 933
2020-05-01 $160,000 (6.7%) $252,510 (4.1%) 0.49 829
2020-06-01 $161,450 (7.7%) $252,511 (4.8%) 0.48 815
2020-07-01 $159,925 (7.2%) $256,104 (10.6%) 0.46 802
2020-08-01 $160,710 (7.6%) $260,362 (14.9%) 0.46 767
2020-09-01 $159,900 (6.7%) $257,848 (13.5%) 0.46 760
2020-10-01 $160,348 (7.0%) $259,381 (15.6%) 0.46 748
2020-11-01 $154,950 (4.0%) $248,324 (12.1%) 0.45 603
2020-12-01 $149,700 (1.2%) $233,723 (4.1%) 0.45 565
2021-01-01 $144,500 (-0.3%) $233,079 (1.9%) 0.43 508
2021-02-01 $139,000 (-4.8%) $228,881 (0.3%) 0.40 462
2021-03-01 $137,450 (-8.3%) $230,110 (-2.8%) 0.39 416
2021-04-01 $137,000 (-12.4%) $248,130 (3.0%) 0.37 369
2021-05-01 $139,900 (-12.6%) $248,851 (-1.5%) 0.37 388
2021-06-01 $145,000 (-10.2%) $224,925 (-10.9%) 0.38 394
2021-07-01 $149,900 (-6.3%) $218,567 (-14.7%) 0.40 394
2021-08-01 $139,950 (-12.9%) $208,362 (-20.0%) 0.37 421
2021-09-01 $149,900 (-6.3%) $206,685 (-19.8%) 0.40 441
2021-10-01 $144,500 (-9.9%) $198,695 (-23.4%) 0.39 481
2021-11-01 $143,950 (-7.1%) $202,837 (-18.3%) 0.38 436
2021-12-01 $149,950 (0.2%) $200,775 (-14.1%) 0.41 419
2022-01-01 $144,000 (-0.4%) $199,630 (-14.4%) 0.39 384
2022-02-01 $148,750 (7.0%) $222,245 (-2.9%) 0.39 332
2022-03-01 $143,700 (4.6%) $225,447 (-2.0%) 0.36 295
2022-04-01 $148,250 (8.2%) $229,417 (-7.5%) 0.35 285
2022-05-01 $153,215 (9.5%) $230,282 (-7.5%) 0.35 305
2022-06-01 $150,000 (3.5%) $214,863 (-4.5%) 0.33 346
2022-07-01 $150,000 (0.1%) $218,623 (0.0%) 0.34 384
2022-08-01 $144,875 (3.5%) $203,546 (-2.3%) 0.33 394
2022-09-01 $149,900 (0.0%) $205,740 (-0.5%) 0.35 387
2022-10-01 $149,900 (3.7%) $206,000 (3.7%) 0.35 397
2022-11-01 $145,000 (0.7%) $201,609 (-0.6%) 0.35 395
2022-12-01 $140,000 (-6.6%) $196,501 (-2.1%) 0.35 388
2023-01-01 $144,938 (0.7%) $197,266 (-1.2%) 0.36 363
2023-02-01 $145,000 (-2.5%) $213,498 (-3.9%) 0.35 320
2023-03-01 $152,090 (5.8%) $239,627 (6.3%) 0.36 312
2023-04-01 $150,000 (1.2%) $238,705 (4.1%) 0.35 272
Charleston's median listing price for 2023-04-01 was $150,000, a difference of $1,750 (1.2%) versus the prior year and $-2,090 versus the prior month.

Charleston's median listing price comes in at 35% of the national average.

Charleston's average listing price for 2023-04-01 was $238,705, a difference of $9,288 (4.1%) versus the prior year and $-922 versus the prior month.

For the 2023-04-01 period, Charleston had 272 MLS listings, a difference of -40 listings (-13%) versus the prior month and -13 listings (-5%) 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
2018-01-01 106 days 1,800 sqft
2018-02-01 108 days 1,801 sqft
2018-03-01 103 days 1,821 sqft
2018-04-01 82 days 1,845 sqft
2018-05-01 79 days 1,831 sqft
2018-06-01 79 days 1,838 sqft
2018-07-01 86 days 1,850 sqft
2018-08-01 92 days 1,873 sqft
2018-09-01 93 days 1,837 sqft
2018-10-01 95 days 1,865 sqft
2018-11-01 96 days 1,891 sqft
2018-12-01 102 days 1,851 sqft
2019-01-01 109 days 1,855 sqft
2019-02-01 110 days 1,893 sqft
2019-03-01 101 days 1,842 sqft
2019-04-01 87 days 1,870 sqft
2019-05-01 81 days 1,838 sqft
2019-06-01 78 days 1,846 sqft
2019-07-01 82 days 1,846 sqft
2019-08-01 89 days 1,859 sqft
2019-09-01 95 days 1,874 sqft
2019-10-01 91 days 1,835 sqft
2019-11-01 95 days 1,836 sqft
2019-12-01 102 days 1,836 sqft
2020-01-01 109 days 1,836 sqft
2020-02-01 107 days 1,806 sqft
2020-03-01 95 days 1,880 sqft
2020-04-01 88 days 1,912 sqft
2020-05-01 97 days 1,944 sqft
2020-06-01 102 days 1,927 sqft
2020-07-01 92 days 1,904 sqft
2020-08-01 82 days 1,900 sqft
2020-09-01 82 days 1,866 sqft
2020-10-01 85 days 1,854 sqft
2020-11-01 83 days 1,828 sqft
2020-12-01 85 days 1,823 sqft
2021-01-01 88 days 1,800 sqft
2021-02-01 81 days 1,709 sqft
2021-03-01 67 days 1,706 sqft
2021-04-01 66 days 1,678 sqft
2021-05-01 48 days 1,680 sqft
2021-06-01 51 days 1,687 sqft
2021-07-01 56 days 1,734 sqft
2021-08-01 52 days 1,694 sqft
2021-09-01 52 days 1,730 sqft
2021-10-01 50 days 1,687 sqft
2021-11-01 60 days 1,658 sqft
2021-12-01 72 days 1,683 sqft
2022-01-01 75 days 1,656 sqft
2022-02-01 77 days 1,687 sqft
2022-03-01 65 days 1,668 sqft
2022-04-01 54 days 1,652 sqft
2022-05-01 48 days 1,707 sqft
2022-06-01 50 days 1,682 sqft
2022-07-01 51 days 1,712 sqft
2022-08-01 54 days 1,707 sqft
2022-09-01 54 days 1,642 sqft
2022-10-01 50 days 1,642 sqft
2022-11-01 51 days 1,644 sqft
2022-12-01 64 days 1,615 sqft
2023-01-01 77 days 1,637 sqft
2023-02-01 79 days 1,644 sqft
2023-03-01 65 days 1,689 sqft
2023-04-01 57 days 1,755 sqft
Charleston's median listing age (time on market) for 2023-04-01 was 57 days. This is 6% longer than the same period one year ago.

Charleston's median square footage for active listings during the 2023-04-01 period was 1,755 sqft. One year prior, the average listing was 1,652 sqft.