Charlotte USDA Loan Rates, Closing Costs & Stats

CHARLOTTE-CONCORD-GASTONIA, NC-SC

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    • 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.

    Charlotte's 91 lenders originated 342 USDA loans during 2022. The total origination value was $79,290,000, with an average USDA loan value of $231,842.

    Charlotte USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Charlotte averaged 6.56% for the week of 2023-12-01, compared to the national average (all USDA variants) of 6.997% for the same period.

    Charlotte's average USDA mortgage closing costs are $5,580.

    The average rate for the prior week (2023-11-24) was 6.77% and one month ago for the week of 2023-10-27, the average rate was 7.02%.

    The average rate one year ago was 6.14%.

    For refis of the same type during the week of 2023-12-01, the average rate was 5.55%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Charlotte 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 Charlotte level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    MOVEMENT MORTGAGE, LLC 41 4.63% $7,959
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 24 4.53% $7,162
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 23 4.99% $8,980
    American Security Mortgage Corp. 21 4.83% $6,391
    CROSSCOUNTRY MORTGAGE, LLC 12 4.77% $7,625
    CARDINAL FINANCIAL 10 4.57% $9,096
    SeaTrust Mortgage Company 10 4.81% $8,183
    PENNYMAC LOAN SERVICES, LLC 9 3.13% $5,808
    C & F Mortgage Corporation 7 4.52% $5,609
    GoPrime Mortgage, Inc. 6 4.85% $6,573
    INSPIRE HOME LOANS INC. 6 4.89% $6,473
    UNITED WHOLESALE MORTGAGE, LLC 5 4.68% $8,086
    Fifth Third Bank 5 4.20% $6,659
    GUILD MORTGAGE COMPANY 5 5.53% $6,963
    T2 FINANCIAL LLC 5 4.25% $10,239
    FINANCE OF AMERICA MORTGAGE LLC 5 4.47% $7,015
    NVR Mortgage Finance, Inc. 5 3.42% $11,300
    HOME POINT FINANCIAL CORPORATION 5 4.13% $6,177
    HOMESTAR FINANCIAL CORPORATION 5 4.75% $3,362
    THRIVE MORTGAGE, LLC 4 4.47% $7,639
    CALIBER HOME LOANS, INC. 4 4.39% $5,701
    First Federal Bank 4 5.09% $5,302
    CORNERSTONE HOME LENDING, INC. 4 4.06% $6,595
    Allen Tate Mortgage Partners, LLC 4 4.47% $6,271
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 4.59% $10,023
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 5.66% $9,717
    INTERLINC MORTGAGE SERVICES, LLC 4 4.66% $7,851
    CERTAINTY HOME LOANS, LLC 4 3.84% $10,504
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 4.42% $9,878
    CMG MORTGAGE, INC. 3 5.38% $7,032
    DHI MORTGAGE COMPANY, LTD. 3 4.00% $4,729
    Renasant Bank 3 4.50% $5,292
    TJC Mortgage, Inc. 3 5.04% $7,723
    UNION HOME MORTGAGE CORP. 3 4.46% $6,479
    Flagstar Bank, FSB 3 3.63% $5,909
    Hometown Lenders, Inc. 3 4.54% $11,035
    Willamette Valley Bank 3 3.83% $9,004
    GUARANTEED RATE, INC. 3 4.48% $7,195
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 3.75% $6,623
    HOMESIDE FINANCIAL, LLC 2 4.88% $5,975
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 4.88% $7,595
    First-Citizens Bank & Trust Company 2 5.00% $8,341
    SOUTHERN TRUST MORTGAGE, LLC 2 4.25% $9,736
    RESOURCE FINANCIAL SERVICES, INC. 2 5.06% $7,036
    Hometown Equity Mortgage, LLC 2 4.38% $6,461
    Blue Ridge Bank 2 4.94% $6,181
    PLAZA HOME MORTGAGE, INC. 2 5.31% $8,609
    Bank of England 2 4.63% $7,131
    Wells Fargo Bank 2 3.25% $6,649
    Wyndham Capital Mortgage, Inc. 1 4.13% $11,582
    ACOPIA, LLC 1 5.63% $6,237
    Alcova Mortgage LLC 1 5.63% $7,687
    Alpha Mortgage Corporation 1 3.38% $5,508
    Amerifirst Financial, Inc. 1 3.50% $5,788
    Ameris Bank 1 5.25% $5,286
    ARC HOME LLC 1 2.99% $4,467
    Assurance Financial Group, L.L.C. 1 3.00% $6,062
    Austin Capital Bank SSB 1 4.00% $7,913
    BROKER SOLUTIONS, INC. 1 6.75% $9,076
    CASTLE & COOKE MORTGAGE, LLC 1 3.75% $6,950
    CHURCHILL MORTGAGE CORPORATION 1 3.25% $5,565
    Cornerstone First Mortgage, Inc 1 4.75% $8,851
    CRESCENT MORTGAGE COMPANY 1 3.13% $3,717
    First Horizon Bank 1 5.88% $8,501
    FREEDOM MORTGAGE CORPORATION 1 3.50% $5,393
    Gateway First Bank 1 5.75% $3,488
    GUARANTY HOME MORTGAGE CORPORATION 1 4.25% $14,729
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.13% $10,261
    INTERCOASTAL MORTGAGE COMPANY 1 3.25% $5,373
    Ixonia Bank 1 3.50% $6,505
    LAKEVIEW LOAN SERVICING, LLC 1 2.88% $3,605
    MORTGAGE EQUITY PARTNERS LLC 1 4.63% $6,122
    Mortgage Research Center, LLC 1 4.75% $5,503
    MUTUAL OF OMAHA MORTGAGE, INC. 1 4.75% $7,106
    Nations Lending Corporation 1 4.75% $13,734
    NEWREZ LLC 1 4.13% $4,827
    Northpointe Bank 1 4.00% $6,370
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.13% $7,243
    RAPID MORTGAGE COMPANY 1 3.50% $9,072
    Shamrock Home Loans, Inc. 1 6.75% $11,795
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 4.25% $6,204
    The Federal Savings Bank 1 4.25% $4,069
    TOP FLITE FINANCIAL, INC. 1 6.63% $9,645
    TOWNE MORTGAGE COMPANY 1 3.00% $6,500
    Truist 1 2.63% $4,740
    UNITED 1 5.25% $10,224
    United Community Bank 1 4.63% $5,348
    Uwharrie Bank 1 5.13% $7,762
    VAN DYK MORTGAGE CORPORATION 1 4.25% $12,128
    Wolfe Financial, Inc 1 5.00% $4,489
    ABSOLUTE HOME MORTGAGE CORPORATION 1 3.75% $8,256

    The top Charlotte USDA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 41 USDA loans originated. Their average total fees are $7,959, which is $797 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Charlotte USDA lenders (with over 10 loans originated) are American Security Mortgage Corp. ($6,391), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,162), CROSSCOUNTRY MORTGAGE, LLC ($7,625), MOVEMENT MORTGAGE, LLC ($7,959) and SeaTrust Mortgage Company ($8,183).

    The lowest rate Charlotte USDA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION (4.53%), CARDINAL FINANCIAL (4.57%), MOVEMENT MORTGAGE, LLC (4.63%), CROSSCOUNTRY MORTGAGE, LLC (4.77%) and SeaTrust Mortgage Company (4.81%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Charlotte (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 $337,404 (8.9%) $436,723 (7.7%) 1.25 6,862
    2018-02-01 $338,498 (6.5%) $442,534 (6.0%) 1.23 6,894
    2018-03-01 $349,000 (5.8%) $452,035 (4.6%) 1.22 7,193
    2018-04-01 $352,725 (3.8%) $462,981 (4.3%) 1.20 7,507
    2018-05-01 $354,581 (2.1%) $468,150 (3.3%) 1.18 7,951
    2018-06-01 $352,490 (1.2%) $464,150 (1.7%) 1.18 8,421
    2018-07-01 $347,000 (0.6%) $453,295 (0.7%) 1.16 8,766
    2018-08-01 $339,997 (0.2%) $445,653 (1.1%) 1.14 8,906
    2018-09-01 $339,900 (0.7%) $443,305 (1.2%) 1.14 8,965
    2018-10-01 $333,600 (-1.3%) $435,917 (-0.7%) 1.13 9,032
    2018-11-01 $329,950 (-0.9%) $432,475 (-0.3%) 1.12 8,853
    2018-12-01 $325,000 (-2.0%) $428,455 (-0.6%) 1.12 8,316
    2019-01-01 $325,000 (-3.7%) $428,858 (-1.8%) 1.12 7,890
    2019-02-01 $329,862 (-2.6%) $439,617 (-0.7%) 1.11 7,891
    2019-03-01 $341,329 (-2.2%) $461,445 (2.1%) 1.12 7,937
    2019-04-01 $349,950 (-0.8%) $474,852 (2.6%) 1.11 8,117
    2019-05-01 $355,750 (0.3%) $478,323 (2.2%) 1.11 8,342
    2019-06-01 $358,250 (1.6%) $477,698 (2.9%) 1.12 8,496
    2019-07-01 $349,938 (0.9%) $457,648 (1.0%) 1.10 8,510
    2019-08-01 $345,109 (1.5%) $455,280 (2.2%) 1.09 8,491
    2019-09-01 $339,423 (-0.1%) $457,282 (3.2%) 1.09 8,405
    2019-10-01 $335,632 (0.6%) $449,709 (3.2%) 1.08 8,311
    2019-11-01 $334,750 (1.5%) $435,472 (0.7%) 1.10 7,819
    2019-12-01 $335,950 (3.4%) $436,906 (2.0%) 1.12 7,001
    2020-01-01 $336,685 (3.6%) $443,376 (3.4%) 1.13 6,365
    2020-02-01 $340,950 (3.4%) $460,403 (4.7%) 1.12 5,751
    2020-03-01 $349,950 (2.5%) $477,904 (3.6%) 1.10 5,974
    2020-04-01 $340,320 (-2.8%) $459,641 (-3.2%) 1.07 6,501
    2020-05-01 $352,578 (-0.9%) $484,575 (1.3%) 1.07 6,267
    2020-06-01 $367,327 (2.5%) $509,056 (6.6%) 1.08 5,336
    2020-07-01 $369,450 (5.6%) $513,038 (12.1%) 1.07 4,736
    2020-08-01 $369,900 (7.2%) $515,844 (13.3%) 1.06 4,559
    2020-09-01 $373,795 (10.1%) $520,579 (13.8%) 1.07 4,441
    2020-10-01 $368,950 (9.9%) $516,057 (14.8%) 1.06 4,335
    2020-11-01 $374,950 (12.0%) $519,927 (19.4%) 1.10 4,044
    2020-12-01 $372,305 (10.8%) $513,404 (17.5%) 1.11 3,533
    2021-01-01 $367,391 (9.1%) $508,639 (14.7%) 1.10 3,036
    2021-02-01 $362,475 (6.3%) $510,995 (11.0%) 1.06 2,641
    2021-03-01 $375,070 (7.2%) $544,797 (14.0%) 1.06 2,331
    2021-04-01 $385,000 (13.1%) $553,542 (20.4%) 1.04 2,319
    2021-05-01 $389,000 (10.3%) $550,077 (13.5%) 1.03 2,462
    2021-06-01 $388,770 (5.8%) $541,537 (6.4%) 1.02 2,788
    2021-07-01 $385,000 (4.2%) $527,577 (2.8%) 1.02 3,072
    2021-08-01 $387,021 (4.6%) $516,217 (0.1%) 1.03 3,258
    2021-09-01 $388,437 (3.9%) $523,023 (0.5%) 1.04 3,293
    2021-10-01 $397,950 (7.9%) $524,181 (1.6%) 1.06 3,245
    2021-11-01 $399,000 (6.4%) $520,010 (0.0%) 1.07 3,063
    2021-12-01 $389,990 (4.8%) $517,189 (0.7%) 1.06 2,593
    2022-01-01 $395,000 (7.5%) $525,360 (3.3%) 1.07 2,145
    2022-02-01 $390,950 (7.9%) $544,943 (6.6%) 1.02 1,847
    2022-03-01 $399,950 (6.6%) $554,088 (1.7%) 1.00 1,949
    2022-04-01 $414,210 (7.6%) $579,621 (4.7%) 0.99 2,166
    2022-05-01 $430,000 (10.5%) $592,956 (7.8%) 0.98 2,950
    2022-06-01 $441,004 (13.4%) $593,138 (9.5%) 0.98 3,721
    2022-07-01 $429,900 (11.7%) $574,871 (9.0%) 0.97 5,056
    2022-08-01 $425,000 (9.8%) $564,407 (9.3%) 0.98 5,434
    2022-09-01 $419,450 (8.0%) $564,344 (7.9%) 0.98 5,490
    2022-10-01 $410,995 (3.3%) $549,205 (4.8%) 0.97 5,765
    2022-11-01 $400,000 (0.3%) $538,071 (3.5%) 0.96 6,002
    2022-12-01 $395,000 (1.3%) $526,293 (1.8%) 0.98 5,488
    2023-01-01 $392,909 (-0.5%) $527,096 (0.3%) 0.97 4,963
    2023-02-01 $396,250 (1.4%) $538,834 (-1.1%) 0.96 4,404
    2023-03-01 $400,450 (0.1%) $555,443 (0.2%) 0.94 4,115
    2023-04-01 $424,999 (2.6%) $588,747 (1.6%) 0.99 4,030
    2023-05-01 $434,881 (1.1%) $623,970 (5.2%) 0.99 3,970
    2023-06-01 $441,238 (0.1%) $642,071 (8.3%) 0.99 4,108
    2023-07-01 $439,990 (2.4%) $635,807 (10.6%) 1.00 4,235
    2023-08-01 $429,736 (1.1%) $620,073 (9.9%) 0.99 4,400
    2023-09-01 $425,000 (1.3%) $618,600 (9.6%) 0.99 4,629
    2023-10-01 $420,948 (2.4%) $601,721 (9.6%) 0.99 5,106
    2023-11-01 $414,945 (3.7%) $587,807 (9.2%) 0.99 5,285
    Charlotte's median listing price for 2023-11-01 was $414,945, a difference of $14,945 (3.7%) versus the prior year and $-6,003 versus the prior month.

    Charlotte's median listing price comes in at 99% of the national average.

    Charlotte's average listing price for 2023-11-01 was $587,807, a difference of $49,736 (9.2%) versus the prior year and $-13,914 versus the prior month.

    For the 2023-11-01 period, Charlotte had 5,285 MLS listings, a difference of 179 listings (4%) versus the prior month and -717 listings (-12%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Charlotte (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 79 days 2,573 sqft
    2018-02-01 69 days 2,556 sqft
    2018-03-01 46 days 2,621 sqft
    2018-04-01 45 days 2,639 sqft
    2018-05-01 45 days 2,650 sqft
    2018-06-01 46 days 2,650 sqft
    2018-07-01 50 days 2,601 sqft
    2018-08-01 51 days 2,560 sqft
    2018-09-01 56 days 2,540 sqft
    2018-10-01 59 days 2,499 sqft
    2018-11-01 59 days 2,467 sqft
    2018-12-01 65 days 2,432 sqft
    2019-01-01 72 days 2,416 sqft
    2019-02-01 63 days 2,423 sqft
    2019-03-01 51 days 2,480 sqft
    2019-04-01 46 days 2,518 sqft
    2019-05-01 46 days 2,557 sqft
    2019-06-01 47 days 2,547 sqft
    2019-07-01 50 days 2,481 sqft
    2019-08-01 50 days 2,435 sqft
    2019-09-01 52 days 2,405 sqft
    2019-10-01 53 days 2,386 sqft
    2019-11-01 56 days 2,362 sqft
    2019-12-01 64 days 2,358 sqft
    2020-01-01 70 days 2,334 sqft
    2020-02-01 57 days 2,356 sqft
    2020-03-01 38 days 2,388 sqft
    2020-04-01 41 days 2,327 sqft
    2020-05-01 52 days 2,409 sqft
    2020-06-01 45 days 2,437 sqft
    2020-07-01 42 days 2,425 sqft
    2020-08-01 37 days 2,385 sqft
    2020-09-01 33 days 2,356 sqft
    2020-10-01 35 days 2,279 sqft
    2020-11-01 41 days 2,236 sqft
    2020-12-01 47 days 2,195 sqft
    2021-01-01 46 days 2,192 sqft
    2021-02-01 30 days 2,058 sqft
    2021-03-01 28 days 2,076 sqft
    2021-04-01 25 days 2,099 sqft
    2021-05-01 22 days 2,110 sqft
    2021-06-01 23 days 2,090 sqft
    2021-07-01 24 days 2,058 sqft
    2021-08-01 25 days 2,049 sqft
    2021-09-01 28 days 2,067 sqft
    2021-10-01 30 days 2,055 sqft
    2021-11-01 31 days 2,047 sqft
    2021-12-01 38 days 1,990 sqft
    2022-01-01 39 days 1,997 sqft
    2022-02-01 26 days 1,964 sqft
    2022-03-01 17 days 1,983 sqft
    2022-04-01 17 days 2,003 sqft
    2022-05-01 20 days 2,053 sqft
    2022-06-01 27 days 2,113 sqft
    2022-07-01 30 days 2,098 sqft
    2022-08-01 36 days 2,093 sqft
    2022-09-01 43 days 2,088 sqft
    2022-10-01 44 days 2,060 sqft
    2022-11-01 47 days 2,027 sqft
    2022-12-01 58 days 1,966 sqft
    2023-01-01 67 days 1,950 sqft
    2023-02-01 55 days 1,955 sqft
    2023-03-01 42 days 1,972 sqft
    2023-04-01 39 days 2,018 sqft
    2023-05-01 39 days 2,058 sqft
    2023-06-01 38 days 2,078 sqft
    2023-07-01 39 days 2,089 sqft
    2023-08-01 38 days 2,050 sqft
    2023-09-01 40 days 2,031 sqft
    2023-10-01 40 days 2,000 sqft
    2023-11-01 43 days 1,946 sqft
    Charlotte's median listing age (time on market) for 2023-11-01 was 43 days. This is -9% shorter than the same period one year ago.

    Charlotte's median square footage for active listings during the 2023-11-01 period was 1,946 sqft. One year prior, the average listing was 2,027 sqft.