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 80 USDA loans during 2023. The total origination value was $11,140,000, with an average USDA loan value of $139,250.
Charleston USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Charleston
averaged
6.57%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Charleston's average USDA mortgage closing costs are $4,411.
The average rate for the prior week (2024-04-12) was
6.82% and
one month ago for the week of 2024-03-15, the
average rate was 6.7%.
The average rate one year ago was 6.34%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.47%.
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Gateway First Bank | 20 | 6.58% | $4,812 |
| SUCCESS MORTGAGE PARTNERS, INC. | 8 | 6.86% | $6,451 |
| MOVEMENT MORTGAGE, LLC | 8 | 6.72% | $6,168 |
| Victorian Finance, LLC | 6 | 6.83% | $5,356 |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | 6 | 6.62% | $5,581 |
| GUARANTEED RATE, INC. | 4 | 7.00% | $6,265 |
| UNION HOME MORTGAGE CORP. | 4 | 6.56% | $6,052 |
| LOANDEPOT.COM, LLC | 3 | 6.46% | $6,624 |
| POLARIS HOME FUNDING CORP. | 3 | 6.50% | $7,505 |
| U.S. Bank | 3 | 6.92% | $4,175 |
| CROSSCOUNTRY MORTGAGE, LLC | 2 | 7.19% | $8,132 |
| Peoples Bank | 1 | 6.13% | $6,271 |
| AMERICAN FINANCIAL RESOURCES, INC. | 1 | 6.75% | $6,217 |
| BROKER SOLUTIONS, INC. | 1 | 6.75% | $7,048 |
| Barrington Bank & Trust Company, N.A. | 1 | 7.75% | $5,784 |
| Truist | 1 | 5.25% | $3,780 |
| Bank of England | 1 | 7.25% | $6,910 |
| Equity Prime Mortgage LLC | 1 | 6.38% | $5,341 |
| Alcova Mortgage LLC | 1 | 6.75% | $4,976 |
| HOMESPIRE MORTGAGE CORPORATION | 1 | 5.75% | $9,562 |
The top Charleston USDA lender as defined by loan originations is Gateway First Bank, with
20 USDA loans originated. Their average total fees are
$4,812, which is $1,639
lower than the next largest lender,
SUCCESS MORTGAGE PARTNERS, INC..
The lowest fee Charleston USDA lenders (with over 10 loans originated) are
Gateway First Bank ($4,812), .
The lowest rate Charleston USDA lenders (with over 10 loans originated) are
Gateway First Bank (6.58%), .
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 (-1.5%) | $214,526 (0.5%) | 0.51 | 1,174 |
| 2018-02-01 | $139,450 (-0.3%) | $217,269 (-1.4%) | 0.51 | 1,160 |
| 2018-03-01 | $139,900 (0.2%) | $221,052 (-0.2%) | 0.49 | 1,166 |
| 2018-04-01 | $145,000 (2.1%) | $229,143 (1.5%) | 0.49 | 1,190 |
| 2018-05-01 | $142,450 (-1.6%) | $225,609 (1.1%) | 0.48 | 1,249 |
| 2018-06-01 | $144,900 (-1.1%) | $225,933 (1.9%) | 0.48 | 1,288 |
| 2018-07-01 | $145,000 (-2.7%) | $228,096 (3.0%) | 0.48 | 1,329 |
| 2018-08-01 | $145,000 (-3.0%) | $228,677 (3.5%) | 0.49 | 1,345 |
| 2018-09-01 | $146,500 (-1.3%) | $231,103 (5.3%) | 0.49 | 1,368 |
| 2018-10-01 | $149,800 (3.3%) | $231,948 (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 (0.7%) | $234,197 (8.0%) | 0.50 | 1,201 |
| 2019-01-01 | $147,125 (7.3%) | $234,698 (9.4%) | 0.51 | 1,127 |
| 2019-02-01 | $149,000 (6.9%) | $238,787 (9.9%) | 0.50 | 1,122 |
| 2019-03-01 | $149,386 (6.8%) | $238,653 (8.0%) | 0.49 | 1,116 |
| 2019-04-01 | $149,836 (3.3%) | $239,382 (4.5%) | 0.48 | 1,110 |
| 2019-05-01 | $149,900 (5.2%) | $242,577 (7.5%) | 0.47 | 1,153 |
| 2019-06-01 | $149,900 (3.5%) | $240,976 (6.7%) | 0.47 | 1,216 |
| 2019-07-01 | $149,000 (2.8%) | $231,413 (1.5%) | 0.47 | 1,246 |
| 2019-08-01 | $146,882 (1.3%) | $224,720 (-1.7%) | 0.47 | 1,251 |
| 2019-09-01 | $148,580 (1.4%) | $224,438 (-2.9%) | 0.48 | 1,237 |
| 2019-10-01 | $149,900 (0.1%) | $224,444 (-3.2%) | 0.48 | 1,227 |
| 2019-11-01 | $149,000 (-0.3%) | $221,567 (-6.1%) | 0.49 | 1,197 |
| 2019-12-01 | $147,750 (1.9%) | $224,408 (-4.2%) | 0.49 | 1,147 |
| 2020-01-01 | $144,975 (-1.5%) | $228,547 (-2.6%) | 0.48 | 1,088 |
| 2020-02-01 | $145,000 (-2.7%) | $227,886 (-4.6%) | 0.47 | 1,042 |
| 2020-03-01 | $149,950 (0.4%) | $236,608 (-0.9%) | 0.47 | 1,007 |
| 2020-04-01 | $156,225 (4.3%) | $240,727 (0.6%) | 0.49 | 934 |
| 2020-05-01 | $160,000 (6.7%) | $252,309 (4.0%) | 0.49 | 830 |
| 2020-06-01 | $161,200 (7.5%) | $252,155 (4.6%) | 0.47 | 817 |
| 2020-07-01 | $159,900 (7.3%) | $255,733 (10.5%) | 0.46 | 804 |
| 2020-08-01 | $160,348 (9.2%) | $259,978 (15.7%) | 0.46 | 769 |
| 2020-09-01 | $159,900 (7.6%) | $257,560 (14.8%) | 0.46 | 761 |
| 2020-10-01 | $160,000 (6.7%) | $259,205 (15.5%) | 0.46 | 749 |
| 2020-11-01 | $154,850 (3.9%) | $248,140 (12.0%) | 0.45 | 604 |
| 2020-12-01 | $149,700 (1.3%) | $233,723 (4.2%) | 0.45 | 565 |
| 2021-01-01 | $144,500 (-0.3%) | $233,079 (2.0%) | 0.43 | 508 |
| 2021-02-01 | $139,000 (-4.1%) | $228,881 (0.4%) | 0.40 | 462 |
| 2021-03-01 | $137,450 (-8.3%) | $230,110 (-2.8%) | 0.39 | 416 |
| 2021-04-01 | $137,000 (-12.3%) | $248,130 (3.1%) | 0.37 | 369 |
| 2021-05-01 | $139,900 (-12.6%) | $248,851 (-1.4%) | 0.37 | 388 |
| 2021-06-01 | $145,000 (-10.1%) | $224,925 (-10.8%) | 0.38 | 394 |
| 2021-07-01 | $149,900 (-6.3%) | $218,567 (-14.5%) | 0.40 | 394 |
| 2021-08-01 | $139,925 (-12.7%) | $208,128 (-19.9%) | 0.37 | 420 |
| 2021-09-01 | $148,475 (-7.2%) | $206,386 (-19.9%) | 0.40 | 441 |
| 2021-10-01 | $144,250 (-9.8%) | $198,489 (-23.4%) | 0.38 | 482 |
| 2021-11-01 | $143,700 (-7.2%) | $202,766 (-18.3%) | 0.38 | 437 |
| 2021-12-01 | $149,950 (0.2%) | $200,695 (-14.1%) | 0.41 | 420 |
| 2022-01-01 | $144,000 (-0.4%) | $199,630 (-14.4%) | 0.39 | 385 |
| 2022-02-01 | $148,500 (6.8%) | $222,136 (-3.0%) | 0.39 | 332 |
| 2022-03-01 | $143,975 (4.8%) | $225,133 (-2.2%) | 0.36 | 296 |
| 2022-04-01 | $147,500 (7.7%) | $228,983 (-7.7%) | 0.35 | 286 |
| 2022-05-01 | $152,680 (9.1%) | $229,882 (-7.6%) | 0.35 | 306 |
| 2022-06-01 | $150,000 (3.5%) | $214,329 (-4.7%) | 0.33 | 348 |
| 2022-07-01 | $149,900 (0.0%) | $218,086 (-0.2%) | 0.34 | 386 |
| 2022-08-01 | $144,750 (3.5%) | $203,258 (-2.3%) | 0.33 | 395 |
| 2022-09-01 | $149,900 (1.0%) | $205,444 (-0.5%) | 0.35 | 387 |
| 2022-10-01 | $149,700 (3.8%) | $205,685 (3.6%) | 0.35 | 398 |
| 2022-11-01 | $145,000 (0.9%) | $201,312 (-0.7%) | 0.35 | 396 |
| 2022-12-01 | $139,950 (-6.7%) | $196,205 (-2.2%) | 0.35 | 389 |
| 2023-01-01 | $144,938 (0.7%) | $197,266 (-1.2%) | 0.36 | 363 |
| 2023-02-01 | $145,000 (-2.4%) | $213,498 (-3.9%) | 0.35 | 320 |
| 2023-03-01 | $152,090 (5.6%) | $239,369 (6.3%) | 0.36 | 312 |
| 2023-04-01 | $150,000 (1.7%) | $238,705 (4.3%) | 0.35 | 272 |
| 2023-05-01 | $166,948 (9.3%) | $243,073 (5.7%) | 0.38 | 284 |
| 2023-06-01 | $169,875 (13.3%) | $252,856 (18.0%) | 0.38 | 302 |
| 2023-07-01 | $169,900 (13.3%) | $248,209 (13.8%) | 0.39 | 325 |
| 2023-08-01 | $159,950 (10.5%) | $237,452 (16.8%) | 0.37 | 338 |
| 2023-09-01 | $173,863 (16.0%) | $227,925 (10.9%) | 0.40 | 338 |
| 2023-10-01 | $158,500 (5.9%) | $210,258 (2.2%) | 0.37 | 352 |
| 2023-11-01 | $146,125 (0.8%) | $208,739 (3.7%) | 0.35 | 343 |
| 2023-12-01 | $159,900 (14.3%) | $222,339 (13.3%) | 0.39 | 331 |
| 2024-01-01 | $165,950 (14.5%) | $220,036 (11.5%) | 0.41 | 302 |
| 2024-02-01 | $152,475 (5.2%) | $217,068 (1.7%) | 0.37 | 313 |
| 2024-03-01 | $164,973 (8.5%) | $241,931 (1.1%) | 0.39 | 304 |
Charleston's median listing price comes in at 39% of the national average.
Charleston's average listing price for 2024-03-01 was $241,931, a difference of $2,562 (1.1%) versus the prior year and $24,863 versus the prior month.
For the 2024-03-01 period, Charleston had 304 MLS listings, a difference of -9 listings (-3%) versus the prior month and -8 listings (-3%) 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 | 100 days | 1,800 sqft |
| 2018-02-01 | 102 days | 1,804 sqft |
| 2018-03-01 | 92 days | 1,824 sqft |
| 2018-04-01 | 77 days | 1,846 sqft |
| 2018-05-01 | 72 days | 1,832 sqft |
| 2018-06-01 | 73 days | 1,839 sqft |
| 2018-07-01 | 79 days | 1,851 sqft |
| 2018-08-01 | 84 days | 1,875 sqft |
| 2018-09-01 | 85 days | 1,838 sqft |
| 2018-10-01 | 87 days | 1,868 sqft |
| 2018-11-01 | 88 days | 1,893 sqft |
| 2018-12-01 | 95 days | 1,854 sqft |
| 2019-01-01 | 102 days | 1,861 sqft |
| 2019-02-01 | 102 days | 1,897 sqft |
| 2019-03-01 | 92 days | 1,892 sqft |
| 2019-04-01 | 80 days | 1,871 sqft |
| 2019-05-01 | 74 days | 1,840 sqft |
| 2019-06-01 | 74 days | 1,847 sqft |
| 2019-07-01 | 77 days | 1,853 sqft |
| 2019-08-01 | 82 days | 1,848 sqft |
| 2019-09-01 | 84 days | 1,853 sqft |
| 2019-10-01 | 86 days | 1,856 sqft |
| 2019-11-01 | 88 days | 1,836 sqft |
| 2019-12-01 | 95 days | 1,837 sqft |
| 2020-01-01 | 102 days | 1,836 sqft |
| 2020-02-01 | 101 days | 1,809 sqft |
| 2020-03-01 | 84 days | 1,887 sqft |
| 2020-04-01 | 81 days | 1,915 sqft |
| 2020-05-01 | 88 days | 1,944 sqft |
| 2020-06-01 | 95 days | 1,930 sqft |
| 2020-07-01 | 79 days | 1,904 sqft |
| 2020-08-01 | 73 days | 1,901 sqft |
| 2020-09-01 | 72 days | 1,869 sqft |
| 2020-10-01 | 75 days | 1,863 sqft |
| 2020-11-01 | 75 days | 1,826 sqft |
| 2020-12-01 | 77 days | 1,823 sqft |
| 2021-01-01 | 80 days | 1,805 sqft |
| 2021-02-01 | 74 days | 1,709 sqft |
| 2021-03-01 | 61 days | 1,708 sqft |
| 2021-04-01 | 61 days | 1,681 sqft |
| 2021-05-01 | 45 days | 1,680 sqft |
| 2021-06-01 | 50 days | 1,688 sqft |
| 2021-07-01 | 53 days | 1,734 sqft |
| 2021-08-01 | 51 days | 1,691 sqft |
| 2021-09-01 | 49 days | 1,723 sqft |
| 2021-10-01 | 47 days | 1,684 sqft |
| 2021-11-01 | 59 days | 1,656 sqft |
| 2021-12-01 | 70 days | 1,681 sqft |
| 2022-01-01 | 73 days | 1,653 sqft |
| 2022-02-01 | 75 days | 1,684 sqft |
| 2022-03-01 | 61 days | 1,664 sqft |
| 2022-04-01 | 52 days | 1,650 sqft |
| 2022-05-01 | 45 days | 1,700 sqft |
| 2022-06-01 | 47 days | 1,679 sqft |
| 2022-07-01 | 48 days | 1,706 sqft |
| 2022-08-01 | 51 days | 1,708 sqft |
| 2022-09-01 | 51 days | 1,645 sqft |
| 2022-10-01 | 45 days | 1,642 sqft |
| 2022-11-01 | 49 days | 1,641 sqft |
| 2022-12-01 | 60 days | 1,615 sqft |
| 2023-01-01 | 74 days | 1,637 sqft |
| 2023-02-01 | 74 days | 1,644 sqft |
| 2023-03-01 | 60 days | 1,686 sqft |
| 2023-04-01 | 50 days | 1,751 sqft |
| 2023-05-01 | 43 days | 1,800 sqft |
| 2023-06-01 | 41 days | 1,793 sqft |
| 2023-07-01 | 44 days | 1,879 sqft |
| 2023-08-01 | 43 days | 1,755 sqft |
| 2023-09-01 | 50 days | 1,772 sqft |
| 2023-10-01 | 52 days | 1,716 sqft |
| 2023-11-01 | 60 days | 1,674 sqft |
| 2023-12-01 | 64 days | 1,716 sqft |
| 2024-01-01 | 66 days | 1,716 sqft |
| 2024-02-01 | 60 days | 1,602 sqft |
| 2024-03-01 | 47 days | 1,708 sqft |
Charleston's median square footage for active listings during the 2024-03-01 period was 1,708 sqft. One year prior, the average listing was 1,686 sqft.