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 51 lenders originated 139 USDA loans during 2023. The total origination value was $32,465,000, with an average USDA loan value of $233,561.

    Charlotte USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Charlotte averaged 6.86% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Charlotte's average USDA mortgage closing costs are $5,665.

    The average rate for the prior week (2024-04-12) was 6.61% and one month ago for the week of 2024-03-15, the average rate was 6.29%.

    The average rate one year ago was 6.13%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.09%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MOVEMENT MORTGAGE, LLC 18 6.58% $7,868
    CROSSCOUNTRY MORTGAGE, LLC 11 6.01% $10,262
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 6.49% $6,771
    American Security Mortgage Corp. 10 6.08% $6,652
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 7 6.46% $10,838
    CARDINAL FINANCIAL 6 6.25% $9,108
    UNITED WHOLESALE MORTGAGE, LLC 5 6.22% $9,575
    GUILD MORTGAGE COMPANY 4 7.00% $6,969
    T2 FINANCIAL LLC 4 6.31% $9,495
    SeaTrust Mortgage Company 3 6.75% $8,474
    LOANDEPOT.COM, LLC 3 5.75% $8,891
    HOMESTAR FINANCIAL CORPORATION 3 6.42% $3,167
    First Federal Bank 2 6.06% $7,852
    PLAZA HOME MORTGAGE, INC. 2 6.88% $8,632
    Bank of England 2 6.75% $5,395
    Fifth Third Bank 2 6.38% $6,146
    NVR Mortgage Finance, Inc. 2 5.50% $6,713
    GSF Mortgage Corporation 2 6.38% $7,962
    EAGLE HOME MORTGAGE, LLC 2 5.69% $9,524
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.00% $10,614
    Truist 2 5.88% $10,046
    UNION HOME MORTGAGE CORP. 2 6.69% $6,667
    C & F Mortgage Corporation 2 6.56% $5,739
    DHI MORTGAGE COMPANY, LTD. 2 5.06% $3,516
    CMG MORTGAGE, INC. 2 5.63% $10,900
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.13% $8,614
    Uwharrie Bank 1 7.38% $5,300
    Ameris Bank 1 6.00% $10,114
    BAY EQUITY LLC 1 7.00% $4,993
    DIRECT MORTGAGE LOANS, LLC 1 6.49% $10,719
    FBC MORTGAGE, LLC 1 5.13% $6,446
    Flagstar Bank, FSB 1 6.63% $6,798
    GoPrime Mortgage, Inc. 1 6.63% $6,467
    GUARANTEED RATE, INC. 1 6.50% $9,978
    HOMESIDE FINANCIAL, LLC 1 6.63% $6,487
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 6.63% $7,519
    Keystone Funding, Inc. 1 5.75% $5,987
    MICHIGAN MUTUAL, INC. 1 6.75% $12,131
    Mortgage Research Center, LLC 1 5.99% $5,443
    Network Funding, L.P. 1 6.13% $6,515
    Northpointe Bank 1 5.75% $6,566
    ON Q FINANCIAL, INC. 1 5.88% $7,168
    OPEN MORTGAGE, LLC 1 7.13% $10,991
    RESOURCE FINANCIAL SERVICES, INC. 1 6.25% $6,811
    Sierra Pacific Mortgage Company, Inc. 1 6.13% $8,829
    South State Bank 1 5.63% $12,845
    THRIVE MORTGAGE, LLC 1 7.25% $10,434
    TJC Mortgage, Inc. 1 6.00% $14,168
    TOWNE MORTGAGE COMPANY 1 5.75% $6,078
    United Community Bank 1 6.50% $6,092
    AMERICAN FINANCIAL NETWORK, INC. 1 5.75% $10,258

    The top Charlotte USDA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 18 USDA loans originated. Their average total fees are $7,868, which is $2,394 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Charlotte USDA lenders (with over 10 loans originated) are American Security Mortgage Corp. ($6,652), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,771), MOVEMENT MORTGAGE, LLC ($7,868), CROSSCOUNTRY MORTGAGE, LLC ($10,262) and .

    The lowest rate Charlotte USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC (6.01%), American Security Mortgage Corp. (6.08%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.49%), MOVEMENT MORTGAGE, LLC (6.58%) and .

    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%) $436,934 (7.7%) 1.25 6,854
    2018-02-01 $338,500 (6.5%) $442,760 (6.0%) 1.23 6,890
    2018-03-01 $349,000 (5.8%) $452,256 (4.6%) 1.22 7,189
    2018-04-01 $352,916 (3.8%) $463,121 (4.3%) 1.20 7,505
    2018-05-01 $354,719 (2.2%) $468,323 (3.4%) 1.18 7,951
    2018-06-01 $352,758 (1.3%) $464,301 (1.8%) 1.18 8,425
    2018-07-01 $347,000 (0.6%) $453,480 (0.7%) 1.16 8,769
    2018-08-01 $340,000 (0.2%) $445,833 (1.1%) 1.14 8,908
    2018-09-01 $339,900 (0.7%) $443,535 (1.2%) 1.14 8,965
    2018-10-01 $333,975 (-1.2%) $436,164 (-0.7%) 1.13 9,032
    2018-11-01 $329,950 (-0.9%) $432,745 (-0.3%) 1.12 8,853
    2018-12-01 $325,000 (-2.0%) $428,688 (-0.6%) 1.12 8,317
    2019-01-01 $325,000 (-3.7%) $429,118 (-1.8%) 1.12 7,890
    2019-02-01 $329,900 (-2.5%) $439,798 (-0.7%) 1.11 7,891
    2019-03-01 $341,329 (-2.2%) $461,575 (2.1%) 1.12 7,939
    2019-04-01 $349,950 (-0.8%) $474,915 (2.6%) 1.11 8,122
    2019-05-01 $355,750 (0.3%) $478,421 (2.2%) 1.11 8,347
    2019-06-01 $358,500 (1.6%) $477,847 (2.9%) 1.12 8,499
    2019-07-01 $349,950 (0.9%) $457,689 (0.9%) 1.10 8,511
    2019-08-01 $345,109 (1.5%) $455,218 (2.1%) 1.09 8,487
    2019-09-01 $339,423 (-0.1%) $457,231 (3.1%) 1.09 8,399
    2019-10-01 $335,632 (0.5%) $449,668 (3.1%) 1.08 8,304
    2019-11-01 $334,750 (1.5%) $435,540 (0.7%) 1.10 7,812
    2019-12-01 $335,882 (3.4%) $436,961 (1.9%) 1.12 6,995
    2020-01-01 $336,675 (3.6%) $443,443 (3.3%) 1.13 6,361
    2020-02-01 $340,888 (3.3%) $460,397 (4.7%) 1.12 5,749
    2020-03-01 $349,950 (2.5%) $477,868 (3.5%) 1.10 5,975
    2020-04-01 $340,320 (-2.8%) $459,662 (-3.2%) 1.07 6,500
    2020-05-01 $352,938 (-0.8%) $484,739 (1.3%) 1.07 6,263
    2020-06-01 $367,405 (2.5%) $509,202 (6.6%) 1.08 5,332
    2020-07-01 $369,450 (5.6%) $513,307 (12.2%) 1.07 4,730
    2020-08-01 $369,900 (7.2%) $515,953 (13.3%) 1.06 4,557
    2020-09-01 $373,591 (10.1%) $520,568 (13.9%) 1.07 4,440
    2020-10-01 $368,732 (9.9%) $516,090 (14.8%) 1.06 4,332
    2020-11-01 $374,950 (12.0%) $519,927 (19.4%) 1.10 4,040
    2020-12-01 $372,061 (10.8%) $513,364 (17.5%) 1.11 3,530
    2021-01-01 $367,391 (9.1%) $508,532 (14.7%) 1.10 3,034
    2021-02-01 $362,500 (6.3%) $511,201 (11.0%) 1.06 2,639
    2021-03-01 $375,070 (7.2%) $545,201 (14.1%) 1.06 2,329
    2021-04-01 $385,000 (13.1%) $554,098 (20.5%) 1.04 2,311
    2021-05-01 $389,000 (10.2%) $550,233 (13.5%) 1.03 2,456
    2021-06-01 $388,750 (5.8%) $541,814 (6.4%) 1.02 2,783
    2021-07-01 $385,975 (4.5%) $527,944 (2.9%) 1.02 3,060
    2021-08-01 $388,250 (5.0%) $516,997 (0.2%) 1.04 3,242
    2021-09-01 $389,215 (4.2%) $524,313 (0.7%) 1.04 3,269
    2021-10-01 $398,430 (8.1%) $525,286 (1.8%) 1.06 3,215
    2021-11-01 $399,000 (6.4%) $521,379 (0.3%) 1.07 3,032
    2021-12-01 $392,000 (5.4%) $519,938 (1.3%) 1.06 2,550
    2022-01-01 $399,000 (8.6%) $529,046 (4.0%) 1.08 2,098
    2022-02-01 $397,750 (9.7%) $550,199 (7.6%) 1.03 1,800
    2022-03-01 $403,994 (7.7%) $559,287 (2.6%) 1.01 1,895
    2022-04-01 $415,000 (7.8%) $582,445 (5.1%) 0.99 2,134
    2022-05-01 $432,245 (11.1%) $596,914 (8.5%) 0.99 2,880
    2022-06-01 $445,383 (14.6%) $597,206 (10.2%) 0.99 3,649
    2022-07-01 $432,000 (11.9%) $578,299 (9.5%) 0.97 4,965
    2022-08-01 $425,000 (9.5%) $567,894 (9.8%) 0.98 5,333
    2022-09-01 $420,500 (8.0%) $567,737 (8.3%) 0.98 5,389
    2022-10-01 $415,000 (4.2%) $552,120 (5.1%) 0.98 5,668
    2022-11-01 $403,900 (1.2%) $540,222 (3.6%) 0.97 5,924
    2022-12-01 $396,590 (1.2%) $528,046 (1.6%) 0.98 5,428
    2023-01-01 $395,000 (-1.0%) $528,802 (-0.1%) 0.98 4,914
    2023-02-01 $397,227 (-0.1%) $540,298 (-1.8%) 0.96 4,367
    2023-03-01 $401,784 (-0.6%) $556,878 (-0.4%) 0.95 4,088
    2023-04-01 $425,000 (2.4%) $590,203 (1.3%) 0.99 4,010
    2023-05-01 $434,881 (0.6%) $624,514 (4.6%) 0.99 3,964
    2023-06-01 $440,975 (-1.0%) $642,110 (7.5%) 0.99 4,109
    2023-07-01 $439,900 (1.8%) $635,874 (10.0%) 1.00 4,234
    2023-08-01 $429,736 (1.1%) $620,073 (9.2%) 0.99 4,400
    2023-09-01 $425,000 (1.1%) $618,600 (9.0%) 0.99 4,629
    2023-10-01 $420,948 (1.4%) $601,721 (9.0%) 0.99 5,106
    2023-11-01 $414,945 (2.7%) $587,807 (8.8%) 0.99 5,285
    2023-12-01 $400,000 (0.9%) $572,924 (8.5%) 0.98 5,014
    2024-01-01 $400,000 (1.3%) $575,941 (8.9%) 0.98 4,626
    2024-02-01 $400,000 (0.7%) $590,355 (9.3%) 0.96 4,571
    2024-03-01 $410,104 (2.1%) $596,803 (7.2%) 0.97 4,902
    Charlotte's median listing price for 2024-03-01 was $410,104, a difference of $8,320 (2.1%) versus the prior year and $10,104 versus the prior month.

    Charlotte's median listing price comes in at 97% of the national average.

    Charlotte's average listing price for 2024-03-01 was $596,803, a difference of $39,925 (7.2%) versus the prior year and $6,448 versus the prior month.

    For the 2024-03-01 period, Charlotte had 4,902 MLS listings, a difference of 331 listings (7%) versus the prior month and 814 listings (20%) 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 2,580 sqft
    2018-02-01 69 days 2,556 sqft
    2018-03-01 46 days 2,622 sqft
    2018-04-01 45 days 2,639 sqft
    2018-05-01 45 days 2,651 sqft
    2018-06-01 46 days 2,650 sqft
    2018-07-01 50 days 2,602 sqft
    2018-08-01 51 days 2,560 sqft
    2018-09-01 56 days 2,540 sqft
    2018-10-01 59 days 2,500 sqft
    2018-11-01 59 days 2,468 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 2,519 sqft
    2019-05-01 46 days 2,558 sqft
    2019-06-01 47 days 2,547 sqft
    2019-07-01 50 days 2,482 sqft
    2019-08-01 50 days 2,436 sqft
    2019-09-01 52 days 2,407 sqft
    2019-10-01 53 days 2,387 sqft
    2019-11-01 55 days 2,362 sqft
    2019-12-01 64 days 2,359 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 2,424 sqft
    2020-08-01 37 days 2,384 sqft
    2020-09-01 33 days 2,356 sqft
    2020-10-01 35 days 2,278 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 2,057 sqft
    2021-03-01 28 days 2,077 sqft
    2021-04-01 25 days 2,097 sqft
    2021-05-01 22 days 2,110 sqft
    2021-06-01 22 days 2,088 sqft
    2021-07-01 24 days 2,058 sqft
    2021-08-01 25 days 2,047 sqft
    2021-09-01 28 days 2,061 sqft
    2021-10-01 30 days 2,046 sqft
    2021-11-01 31 days 2,040 sqft
    2021-12-01 38 days 1,984 sqft
    2022-01-01 39 days 1,986 sqft
    2022-02-01 26 days 1,958 sqft
    2022-03-01 17 days 1,978 sqft
    2022-04-01 17 days 1,994 sqft
    2022-05-01 20 days 2,042 sqft
    2022-06-01 26 days 2,105 sqft
    2022-07-01 30 days 2,085 sqft
    2022-08-01 36 days 2,082 sqft
    2022-09-01 43 days 2,079 sqft
    2022-10-01 44 days 2,049 sqft
    2022-11-01 47 days 2,017 sqft
    2022-12-01 57 days 1,959 sqft
    2023-01-01 67 days 1,938 sqft
    2023-02-01 55 days 1,952 sqft
    2023-03-01 42 days 1,968 sqft
    2023-04-01 39 days 2,016 sqft
    2023-05-01 39 days 2,056 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 1,945 sqft
    2023-12-01 53 days 1,911 sqft
    2024-01-01 59 days 1,890 sqft
    2024-02-01 45 days 1,886 sqft
    2024-03-01 38 days 1,920 sqft
    Charlotte's median listing age (time on market) for 2024-03-01 was 38 days. This is -8% shorter than the same period one year ago.

    Charlotte's median square footage for active listings during the 2024-03-01 period was 1,920 sqft. One year prior, the average listing was 1,968 sqft.