Charlotte USDA Loans

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 128 lenders originated 910 USDA loans during 2021. The total origination value was $202,810,000, with an average USDA loan value of $222,868.

Charlotte USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Charlotte averaged 5.28% for the week of 2022-08-05, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-07-29) was 5.61% and one month ago for the week of 2022-07-01, the average rate was 5.34%.

The average rate one year ago was 3.02%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.19%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Charlotte level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
MOVEMENT MORTGAGE, LLC 148 2.78% $5,777
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 58 3.06% $7,366
American Security Mortgage Corp. 48 2.74% $5,514
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 40 3.32% $7,218
HOMESTAR FINANCIAL CORPORATION 32 3.07% $4,466
NVR Mortgage Finance, Inc. 29 2.99% $6,094
CROSSCOUNTRY MORTGAGE, LLC 24 3.19% $6,601
SOUTHERN TRUST MORTGAGE, LLC 20 2.92% $4,778
DHI MORTGAGE COMPANY, LTD. 18 2.64% $2,933
C & F Mortgage Corporation 14 3.13% $5,057
FINANCE OF AMERICA MORTGAGE LLC 14 3.26% $7,020
Alcova Mortgage LLC 13 3.11% $4,741
Blue Ridge Bank 13 3.14% $6,261
CORNERSTONE HOME LENDING, INC. 12 3.00% $6,896
LOANDEPOT.COM, LLC 12 2.99% $6,389
GoPrime Mortgage, Inc. 12 3.19% $5,355
GUILD MORTGAGE COMPANY 12 2.97% $6,560
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 11 3.10% $6,568
Renasant Bank 11 3.13% $5,052
INTERLINC MORTGAGE SERVICES, LLC 10 3.41% $3,820
TJC Mortgage, Inc. 10 2.98% $5,377
PRIMARY RESIDENTIAL MORTGAGE, INC. 10 3.36% $7,361
Truist Bank 10 2.78% $5,785
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 10 3.13% $4,787
Hometown Lenders, Inc. 10 3.19% $7,491
EAGLE HOME MORTGAGE, LLC 9 2.90% $6,775
Flagstar Bank, FSB 9 2.71% $5,163
PENNYMAC LOAN SERVICES, LLC 9 2.85% $6,273
CERTAINTY HOME LOANS, LLC 9 3.01% $6,150
Colten Mortgage, LLC 8 2.84% $5,148
First-Citizens Bank & Trust Company 8 2.41% $6,123
Wells Fargo Bank 7 3.16% $4,847
RESIDENTIAL MORTGAGE SERVICES, INC. 7 2.61% $5,688
INSPIRE HOME LOANS INC. 7 3.16% $5,337
GUARANTEED RATE, INC. 7 2.73% $5,934
MID AMERICA MORTGAGE, INC. 6 3.12% $3,899
UNITED WHOLESALE MORTGAGE, LLC 6 2.85% $6,655
JET HOMELOANS, LLC 6 3.00% $8,597
BROKER SOLUTIONS, INC. 6 3.29% $5,592
Uwharrie Bank 5 2.65% $4,619
THRIVE MORTGAGE, LLC 5 2.78% $5,528
CALIBER HOME LOANS, INC. 5 3.38% $6,577
Fifth Third Bank 5 2.68% $5,551
LENDUS, LLC 5 2.90% $5,553
Towne Bank 5 2.88% $5,872
Austin Capital Bank SSB 4 3.06% $7,116
GUARANTY HOME MORTGAGE CORPORATION 4 2.84% $5,066
Northpointe Bank 4 2.78% $6,423
PLAZA HOME MORTGAGE, INC. 4 2.97% $6,249
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 3.34% $6,562
Prosperity Home Mortgage, LLC 4 2.69% $5,765
SUCCESS MORTGAGE PARTNERS, INC. 4 2.84% $7,039
SUMMIT FUNDING, INC. 4 2.97% $6,904
MICHIGAN MUTUAL, INC. 3 2.75% $5,022
SeaTrust Mortgage Company 3 3.04% $5,766
T2 FINANCIAL LLC 3 3.13% $7,998
RAPID MORTGAGE COMPANY 3 2.88% $6,665
NFM, INC. 3 3.42% $6,815
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 2.92% $7,311
INTERCOASTAL MORTGAGE COMPANY 3 2.79% $5,213
SIGNATURE MORTGAGE CORPORATION 3 3.00% $6,111
HomeTrust Bank 3 2.50% $6,455
HOMESIDE FINANCIAL, LLC 3 2.79% $5,204
RELIANCE FIRST CAPITAL, LLC 3 3.04% $6,127
Bank of England 3 3.00% $6,514
Magnolia Bank 3 3.13% $3,771
First Federal Bank 3 3.58% $4,448
ALLIED MORTGAGE GROUP, INC. 3 3.21% $5,633
Carrington Mortgage Services, LLC 3 3.46% $4,680
LAKEVIEW LOAN SERVICING, LLC 2 3.01% $4,109
Assurance Financial Group, L.L.C. 2 3.19% $4,901
GENEVA FINANCIAL, LLC 2 3.38% $6,058
First Heritage Mortgage, LLC 2 2.75% $6,695
First Bank 2 2.50% $4,351
Platinum Home Mortgage Corporation 2 3.25% $7,121
CMG MORTGAGE, INC. 2 3.25% $6,774
United Bank 2 3.00% $4,530
AmRes Corporation 2 3.00% $6,804
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.81% $5,686
RESOURCE FINANCIAL SERVICES, INC. 2 2.75% $5,797
Shamrock Home Loans, Inc. 2 3.19% $6,808
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 3.88% $5,434
HOME POINT FINANCIAL CORPORATION 2 2.50% $7,682
Allen Tate Mortgage Partners, LLC 2 3.13% $5,219
Wolfe Financial, Inc 2 2.88% $5,972
NEWREZ LLC 2 3.00% $6,117
Synovus Bank 2 2.88% $4,897
AMERIFIRST FINANCIAL CORPORATION 2 3.50% $7,482
AMERICAN FINANCIAL NETWORK, INC. 2 3.25% $6,488
COUNTRYPLACE MORTGAGE, LTD. 2 3.06% $9,392
First Guaranty Mortgage Corporation 1 2.75% $3,787
GUARANTEED RATE AFFINITY, LLC 1 2.75% $6,479
First Community Bank 1 2.38% $3,034
HOMESPIRE MORTGAGE CORPORATION 1 3.25% $5,872
Hometown Equity Mortgage, LLC 1 2.25% $8,438
FBC MORTGAGE, LLC 1 2.75% $5,564
EQUITY RESOURCES, INC. 1 2.75% $5,698
Corporate Investors Mortgage Group, Inc. 1 2.75% $4,801
LAND HOME FINANCIAL SERVICES, INC. 1 3.00% $4,445
Lend Smart Mortgage, LLC 1 3.25% $7,440
MATTAMY HOME FUNDING, LLC 1 2.63% $8,573
MCLEAN MORTGAGE CORPORATION 1 3.00% $6,032
CALCON MUTUAL MORTGAGE LLC 1 2.75% $9,565
Nations Lending Corporation 1 3.00% $5,040
Alpha Mortgage Corporation 1 3.38% $5,187
NTFN, INC. 1 3.25% $6,490
1ST SIGNATURE LENDING, LLC 1 3.75% $6,482
Paramount Residential Mortgage Group, Inc. 1 2.75% $4,549
Pinnacle Bank 1 3.25% $5,321
U.S. Bank 1 3.50% $3,578
PREMIER LENDING, INC. 1 3.25% $5,579
ANGEL OAK HOME LOANS LLC 1 3.00% $5,526
US MORTGAGE CORPORATION 1 3.25% $6,808
PULTE MORTGAGE LLC 1 2.88% $3,155
Ameris Bank 1 2.88% $6,027
ROSS MORTGAGE CORPORATION 1 3.25% $5,535
Amerifirst Financial, Inc. 1 3.00% $5,087
South Pacific Financial Corporation 1 3.00% $8,340
SOUTHWEST FUNDING, LP 1 4.50% $6,137
STOCKTON MORTGAGE CORPORATION 1 3.00% $7,505
Sunflower Bank 1 3.49% $5,138
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.25% $7,279
TOWNE MORTGAGE COMPANY 1 3.13% $10,715
UNITED 1 2.50% $5,636
First Palmetto Bank 1 2.75% $3,987
First National Bank of Pennsylvania 1 2.50% $6,406
Gateway First Bank 1 3.50% $6,119
GMFS LLC 1 2.88% $4,907

The top Charlotte USDA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 148 USDA loans originated. Their average total fees are $5,777, which is $1,589 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Charlotte USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($2,933), INTERLINC MORTGAGE SERVICES, LLC ($3,820), HOMESTAR FINANCIAL CORPORATION ($4,466), Alcova Mortgage LLC ($4,741) and SOUTHERN TRUST MORTGAGE, LLC ($4,778).

The lowest rate Charlotte USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (2.64%), American Security Mortgage Corp. (2.74%), Truist Bank (2.78%), MOVEMENT MORTGAGE, LLC (2.78%) and SOUTHERN TRUST MORTGAGE, LLC (2.92%).


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 $334,995 (9.1%) $435,018 (8.4%) 1.23 7,086
2018-02-01 $335,000 (5.6%) $439,756 (6.2%) 1.21 7,101
2018-03-01 $345,000 (5.0%) $449,677 (4.9%) 1.19 7,375
2018-04-01 $350,000 (3.3%) $460,762 (4.7%) 1.17 7,670
2018-05-01 $354,500 (2.8%) $467,397 (3.6%) 1.18 8,117
2018-06-01 $353,900 (2.1%) $464,835 (2.6%) 1.18 8,565
2018-07-01 $347,000 (1.5%) $453,158 (1.0%) 1.16 8,959
2018-08-01 $340,000 (0.6%) $445,389 (1.8%) 1.14 9,185
2018-09-01 $339,759 (1.4%) $444,463 (1.8%) 1.14 9,057
2018-10-01 $332,962 (-0.9%) $435,477 (-0.5%) 1.11 9,253
2018-11-01 $329,900 (0.0%) $431,793 (-0.2%) 1.11 9,061
2018-12-01 $325,000 (-1.5%) $428,175 (-0.4%) 1.11 8,540
2019-01-01 $325,000 (-3.0%) $429,457 (-1.3%) 1.12 8,029
2019-02-01 $329,900 (-1.5%) $439,863 (0.0%) 1.11 7,999
2019-03-01 $341,386 (-1.1%) $465,785 (3.6%) 1.11 8,053
2019-04-01 $349,950 (0.0%) $479,677 (4.1%) 1.10 8,207
2019-05-01 $357,058 (0.7%) $480,080 (2.7%) 1.10 8,408
2019-06-01 $359,000 (1.4%) $478,240 (2.9%) 1.11 8,597
2019-07-01 $349,950 (0.9%) $459,323 (1.4%) 1.09 8,582
2019-08-01 $345,531 (1.6%) $451,051 (1.3%) 1.09 8,422
2019-09-01 $339,900 (0.0%) $464,941 (4.6%) 1.08 8,233
2019-10-01 $335,900 (0.9%) $460,338 (5.7%) 1.07 8,452
2019-11-01 $335,000 (1.6%) $439,094 (1.7%) 1.08 7,897
2019-12-01 $339,700 (4.5%) $442,484 (3.3%) 1.13 7,041
2020-01-01 $339,200 (4.4%) $447,774 (4.3%) 1.13 6,371
2020-02-01 $345,000 (4.6%) $465,061 (5.7%) 1.11 5,729
2020-03-01 $352,930 (3.4%) $482,844 (3.7%) 1.10 5,924
2020-04-01 $345,000 (-1.4%) $462,585 (-3.6%) 1.07 6,526
2020-05-01 $355,000 (-0.6%) $484,585 (0.9%) 1.08 6,234
2020-06-01 $369,955 (3.1%) $512,270 (7.1%) 1.08 5,263
2020-07-01 $373,500 (6.7%) $517,040 (12.6%) 1.07 4,748
2020-08-01 $375,000 (8.5%) $520,259 (15.3%) 1.07 4,517
2020-09-01 $377,413 (11.0%) $525,716 (13.1%) 1.08 4,404
2020-10-01 $374,653 (11.5%) $522,120 (13.4%) 1.07 4,313
2020-11-01 $375,000 (11.9%) $524,101 (19.4%) 1.07 4,011
2020-12-01 $374,320 (10.2%) $516,003 (16.6%) 1.10 3,487
2021-01-01 $368,500 (8.6%) $512,534 (14.5%) 1.08 3,086
2021-02-01 $364,315 (5.6%) $514,795 (10.7%) 1.05 2,582
2021-03-01 $377,450 (7.0%) $546,204 (13.1%) 1.06 2,220
2021-04-01 $389,000 (12.8%) $558,932 (20.8%) 1.05 2,147
2021-05-01 $390,000 (9.9%) $552,769 (14.1%) 1.03 2,310
2021-06-01 $389,693 (5.3%) $546,560 (6.7%) 1.01 2,642
2021-07-01 $389,950 (4.4%) $532,239 (2.9%) 1.01 2,922
2021-08-01 $385,450 (2.8%) $516,459 (-0.7%) 1.01 3,181
2021-09-01 $390,923 (3.6%) $525,209 (-0.1%) 1.03 3,189
2021-10-01 $399,900 (6.7%) $528,042 (1.1%) 1.05 3,108
2021-11-01 $399,500 (6.5%) $526,241 (0.4%) 1.05 2,987
2021-12-01 $395,000 (5.5%) $525,691 (1.9%) 1.05 2,542
2022-01-01 $399,950 (8.5%) $537,013 (4.8%) 1.07 2,036
2022-02-01 $399,089 (9.5%) $550,494 (6.9%) 1.02 1,728
2022-03-01 $409,500 (8.5%) $562,198 (2.9%) 1.01 1,803
2022-04-01 $419,000 (7.7%) $584,282 (4.5%) 0.99 2,054
2022-05-01 $434,894 (11.5%) $598,284 (8.2%) 0.97 2,797
2022-06-01 $445,000 (14.2%) $596,831 (9.2%) 0.99 3,612
Charlotte's median listing price for 2022-06-01 was $445,000, a difference of $55,307 (14.2%) versus the prior year and $10,106 versus the prior month.

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

Charlotte's average listing price for 2022-06-01 was $596,831, a difference of $50,271 (9.2%) versus the prior year and $-1,453 versus the prior month.

For the 2022-06-01 period, Charlotte had 3,612 MLS listings, a difference of 815 listings (29%) versus the prior month and 970 listings (37%) 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 85 days 2,556 sqft
2018-02-01 74 days 2,546 sqft
2018-03-01 52 days 2,618 sqft
2018-04-01 50 days 2,638 sqft
2018-05-01 49 days 2,653 sqft
2018-06-01 50 days 2,656 sqft
2018-07-01 53 days 2,613 sqft
2018-08-01 54 days 2,572 sqft
2018-09-01 58 days 2,540 sqft
2018-10-01 63 days 2,504 sqft
2018-11-01 63 days 2,470 sqft
2018-12-01 70 days 2,439 sqft
2019-01-01 77 days 2,417 sqft
2019-02-01 70 days 2,427 sqft
2019-03-01 56 days 2,483 sqft
2019-04-01 51 days 2,522 sqft
2019-05-01 49 days 2,563 sqft
2019-06-01 50 days 2,553 sqft
2019-07-01 51 days 2,488 sqft
2019-08-01 52 days 2,451 sqft
2019-09-01 56 days 2,425 sqft
2019-10-01 57 days 2,394 sqft
2019-11-01 57 days 2,382 sqft
2019-12-01 67 days 2,375 sqft
2020-01-01 74 days 2,359 sqft
2020-02-01 64 days 2,368 sqft
2020-03-01 43 days 2,418 sqft
2020-04-01 43 days 2,347 sqft
2020-05-01 57 days 2,413 sqft
2020-06-01 53 days 2,443 sqft
2020-07-01 48 days 2,436 sqft
2020-08-01 42 days 2,406 sqft
2020-09-01 38 days 2,376 sqft
2020-10-01 41 days 2,304 sqft
2020-11-01 44 days 2,246 sqft
2020-12-01 51 days 2,204 sqft
2021-01-01 55 days 2,200 sqft
2021-02-01 35 days 2,078 sqft
2021-03-01 34 days 2,095 sqft
2021-04-01 32 days 2,106 sqft
2021-05-01 28 days 2,134 sqft
2021-06-01 27 days 2,109 sqft
2021-07-01 28 days 2,076 sqft
2021-08-01 28 days 2,053 sqft
2021-09-01 31 days 2,073 sqft
2021-10-01 32 days 2,063 sqft
2021-11-01 34 days 2,049 sqft
2021-12-01 40 days 1,997 sqft
2022-01-01 45 days 2,010 sqft
2022-02-01 31 days 1,981 sqft
2022-03-01 20 days 1,985 sqft
2022-04-01 20 days 2,005 sqft
2022-05-01 23 days 2,056 sqft
2022-06-01 29 days 2,114 sqft
Charlotte's median listing age (time on market) for 2022-06-01 was 29 days. This is 8% longer than the same period one year ago.

Charlotte's median square footage for active listings during the 2022-06-01 period was 2,114 sqft. One year prior, the average listing was 2,109 sqft.