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%.
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 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 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.