Charlotte USDA Loan Rates, Closing Costs & Stats

CHARLOTTE-CONCORD-GASTONIA, NC-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.

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 5.89% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

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

The average rate for the prior week (2023-05-19) was 5.94% and one month ago for the week of 2023-04-21, the average rate was 5.84%.

The average rate one year ago was 4.76%.

For refis of the same type during the week of 2023-05-26, the average rate was 4.98%.

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 $337,402 (8.9%) $436,702 (7.7%) 1.25 6,863
2018-02-01 $338,496 (6.5%) $442,512 (6.0%) 1.23 6,895
2018-03-01 $349,000 (5.8%) $452,013 (4.6%) 1.22 7,194
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%) $453,300 (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 $340,000 (-2.6%) $458,429 (1.4%) 1.13 7,943
2019-04-01 $349,950 (-0.8%) $473,629 (2.3%) 1.11 8,101
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 $349,999 (2.9%) $463,454 (4.0%) 1.10 8,488
2019-09-01 $349,995 (3.0%) $476,498 (7.5%) 1.10 7,481
2019-10-01 $336,000 (0.7%) $449,932 (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 (2.9%) $477,904 (4.3%) 1.10 5,974
2020-04-01 $340,320 (-2.8%) $459,641 (-3.0%) 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 (5.7%) $515,844 (11.3%) 1.06 4,559
2020-09-01 $373,795 (6.8%) $520,579 (9.3%) 1.07 4,441
2020-10-01 $368,950 (9.8%) $516,057 (14.7%) 1.06 4,335
2020-11-01 $374,950 (12.0%) $519,927 (19.4%) 1.10 4,044
2020-12-01 $372,123 (10.8%) $513,433 (17.5%) 1.11 3,533
2021-01-01 $367,520 (9.2%) $509,906 (15.0%) 1.10 3,036
2021-02-01 $362,450 (6.3%) $511,301 (11.1%) 1.05 2,641
2021-03-01 $374,676 (7.1%) $545,186 (14.1%) 1.06 2,331
2021-04-01 $385,000 (13.1%) $553,507 (20.4%) 1.04 2,319
2021-05-01 $389,000 (10.3%) $550,153 (13.5%) 1.03 2,462
2021-06-01 $388,790 (5.8%) $541,566 (6.4%) 1.02 2,788
2021-07-01 $385,983 (4.5%) $527,577 (2.8%) 1.02 3,072
2021-08-01 $387,000 (4.6%) $516,326 (0.1%) 1.03 3,258
2021-09-01 $388,425 (3.9%) $522,995 (0.5%) 1.04 3,293
2021-10-01 $398,000 (7.9%) $524,337 (1.6%) 1.06 3,245
2021-11-01 $399,000 (6.4%) $520,370 (0.1%) 1.07 3,063
2021-12-01 $389,945 (4.8%) $517,287 (0.8%) 1.06 2,593
2022-01-01 $395,000 (7.5%) $525,389 (3.0%) 1.07 2,145
2022-02-01 $389,950 (7.6%) $544,796 (6.6%) 1.01 1,846
2022-03-01 $399,997 (6.8%) $555,139 (1.8%) 1.00 1,947
2022-04-01 $412,945 (7.3%) $579,860 (4.8%) 0.98 2,165
2022-05-01 $429,975 (10.5%) $593,878 (8.0%) 0.98 2,935
2022-06-01 $441,008 (13.4%) $594,107 (9.7%) 0.98 3,705
2022-07-01 $429,900 (11.4%) $575,699 (9.1%) 0.97 5,038
2022-08-01 $425,000 (9.8%) $565,246 (9.5%) 0.98 5,409
2022-09-01 $419,950 (8.1%) $565,558 (8.1%) 0.98 5,464
2022-10-01 $411,933 (3.5%) $550,440 (5.0%) 0.97 5,736
2022-11-01 $400,000 (0.3%) $538,850 (3.6%) 0.96 5,972
2022-12-01 $395,000 (1.3%) $527,085 (1.9%) 0.98 5,459
2023-01-01 $394,900 (0.0%) $528,246 (0.5%) 0.98 4,929
2023-02-01 $397,425 (1.9%) $541,566 (-0.6%) 0.96 4,367
2023-03-01 $400,808 (0.2%) $556,746 (0.3%) 0.94 4,089
2023-04-01 $425,000 (2.9%) $590,902 (1.9%) 0.99 4,012
Charlotte's median listing price for 2023-04-01 was $425,000, a difference of $12,055 (2.9%) versus the prior year and $24,192 versus the prior month.

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

Charlotte's average listing price for 2023-04-01 was $590,902, a difference of $11,042 (1.9%) versus the prior year and $34,156 versus the prior month.

For the 2023-04-01 period, Charlotte had 4,012 MLS listings, a difference of -77 listings (-2%) versus the prior month and 1,847 listings (85%) 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 84 days 2,573 sqft
2018-02-01 73 days 2,556 sqft
2018-03-01 50 days 2,621 sqft
2018-04-01 48 days 2,639 sqft
2018-05-01 47 days 2,650 sqft
2018-06-01 49 days 2,650 sqft
2018-07-01 52 days 2,601 sqft
2018-08-01 53 days 2,560 sqft
2018-09-01 58 days 2,540 sqft
2018-10-01 61 days 2,499 sqft
2018-11-01 63 days 2,467 sqft
2018-12-01 68 days 2,432 sqft
2019-01-01 74 days 2,416 sqft
2019-02-01 67 days 2,423 sqft
2019-03-01 53 days 2,465 sqft
2019-04-01 50 days 2,519 sqft
2019-05-01 49 days 2,557 sqft
2019-06-01 50 days 2,546 sqft
2019-07-01 51 days 2,481 sqft
2019-08-01 61 days 2,495 sqft
2019-09-01 65 days 2,507 sqft
2019-10-01 57 days 2,386 sqft
2019-11-01 58 days 2,362 sqft
2019-12-01 67 days 2,359 sqft
2020-01-01 73 days 2,334 sqft
2020-02-01 61 days 2,356 sqft
2020-03-01 41 days 2,388 sqft
2020-04-01 43 days 2,328 sqft
2020-05-01 55 days 2,410 sqft
2020-06-01 50 days 2,437 sqft
2020-07-01 44 days 2,425 sqft
2020-08-01 38 days 2,385 sqft
2020-09-01 36 days 2,356 sqft
2020-10-01 37 days 2,278 sqft
2020-11-01 44 days 2,236 sqft
2020-12-01 49 days 2,195 sqft
2021-01-01 51 days 2,192 sqft
2021-02-01 31 days 2,059 sqft
2021-03-01 30 days 2,079 sqft
2021-04-01 27 days 2,098 sqft
2021-05-01 23 days 2,111 sqft
2021-06-01 23 days 2,090 sqft
2021-07-01 25 days 2,058 sqft
2021-08-01 26 days 2,049 sqft
2021-09-01 29 days 2,066 sqft
2021-10-01 31 days 2,058 sqft
2021-11-01 33 days 2,045 sqft
2021-12-01 39 days 1,992 sqft
2022-01-01 40 days 1,997 sqft
2022-02-01 28 days 1,965 sqft
2022-03-01 18 days 1,982 sqft
2022-04-01 18 days 2,002 sqft
2022-05-01 20 days 2,050 sqft
2022-06-01 27 days 2,107 sqft
2022-07-01 30 days 2,088 sqft
2022-08-01 36 days 2,084 sqft
2022-09-01 43 days 2,085 sqft
2022-10-01 44 days 2,057 sqft
2022-11-01 48 days 2,021 sqft
2022-12-01 59 days 1,964 sqft
2023-01-01 68 days 1,941 sqft
2023-02-01 57 days 1,951 sqft
2023-03-01 43 days 1,970 sqft
2023-04-01 40 days 2,015 sqft
Charlotte's median listing age (time on market) for 2023-04-01 was 40 days. This is 122% longer than the same period one year ago.

Charlotte's median square footage for active listings during the 2023-04-01 period was 2,015 sqft. One year prior, the average listing was 2,002 sqft.