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 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 6.68% for the week of 2024-05-10, compared to the national average (all USDA variants) of 6.785% for the same period.

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

The average rate for the prior week (2024-05-03) was 6.67% and one month ago for the week of 2024-04-05, the average rate was 6.42%.

The average rate one year ago was 6.21%.

For refis of the same type during the week of 2024-05-10, the average rate was 6.71%.

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
2024-04-01 $422,450 (-0.6%) $623,412 (5.6%) 0.98 5,289
Charlotte's median listing price for 2024-04-01 was $422,450, a difference of $-2,550 (-0.6%) versus the prior year and $12,346 versus the prior month.

Charlotte's median listing price comes in at 98% of the national average.

Charlotte's average listing price for 2024-04-01 was $623,412, a difference of $33,209 (5.6%) versus the prior year and $26,609 versus the prior month.

For the 2024-04-01 period, Charlotte had 5,289 MLS listings, a difference of 387 listings (8%) versus the prior month and 1,279 listings (32%) 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 1,919 sqft
2024-04-01 37 days 1,952 sqft
Charlotte's median listing age (time on market) for 2024-04-01 was 37 days. This is -5% shorter than the same period one year ago.

Charlotte's median square footage for active listings during the 2024-04-01 period was 1,952 sqft. One year prior, the average listing was 2,016 sqft.