Florence USDA Loan Rates, Closing Costs & Stats

FLORENCE, 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.

    Florence's 20 lenders originated 39 USDA loans during 2023. The total origination value was $6,435,000, with an average USDA loan value of $165,000.

    Florence USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Florence averaged 6.84% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

    Florence's average USDA mortgage closing costs are $5,231.

    The average rate for the prior week (2024-04-05) was 6.67% and one month ago for the week of 2024-03-08, the average rate was 6.52%.

    The average rate one year ago was 6.33%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.73%.

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

    Florence 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 Florence level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    SUN WEST MORTGAGE COMPANY, INC. 6 6.31% $7,491
    Magnolia Bank 6 6.85% $8,061
    CROSSCOUNTRY MORTGAGE, LLC 4 6.94% $6,362
    First Reliance Bank 3 6.38% $5,447
    GUILD MORTGAGE COMPANY 2 6.75% $6,749
    EQUITY RESOURCES, INC. 2 7.56% $4,514
    GSF Mortgage Corporation 2 6.31% $9,353
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.00% $6,025
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.13% $3,869
    UNION HOME MORTGAGE CORP. 1 7.25% $6,960
    United Community Bank 1 6.63% $6,667
    CBM Mortgage, Inc. 1 6.13% $6,907
    Wells Fargo Bank 1 5.25% $4,436
    DELMAR FINANCIAL COMPANY 1 6.88% $5,820
    GUARANTEED RATE, INC. 1 6.50% $4,327
    INSPIRE HOME LOANS INC. 1 6.63% $13,627
    MORTGAGE INVESTORS GROUP, INC. 1 7.50% $5,693
    MOVEMENT MORTGAGE, LLC 1 5.75% $5,370
    Paramount Residential Mortgage Group, Inc. 1 6.13% $6,978
    RESOURCE FINANCIAL SERVICES, INC. 1 5.63% $7,708

    The top Florence USDA lender as defined by loan originations is SUN WEST MORTGAGE COMPANY, INC., with 6 USDA loans originated. Their average total fees are $7,491, which is $570 lower than the next largest lender, Magnolia Bank.

    The lowest fee Florence USDA lenders (with over 10 loans originated) are .

    The lowest rate Florence USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Florence (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 $159,900 (2.9%) $199,165 (4.1%) 0.59 605
    2018-02-01 $166,750 (5.2%) $205,389 (6.9%) 0.61 618
    2018-03-01 $173,550 (8.8%) $208,815 (5.5%) 0.61 651
    2018-04-01 $170,000 (4.1%) $209,606 (1.9%) 0.58 670
    2018-05-01 $179,900 (8.4%) $216,308 (2.7%) 0.60 703
    2018-06-01 $177,450 (5.7%) $215,056 (1.4%) 0.59 714
    2018-07-01 $177,575 (1.5%) $211,010 (-1.5%) 0.59 741
    2018-08-01 $175,625 (1.9%) $206,101 (-3.2%) 0.59 744
    2018-09-01 $175,000 (4.2%) $201,674 (-2.6%) 0.59 698
    2018-10-01 $169,950 (-1.1%) $199,921 (-5.7%) 0.58 681
    2018-11-01 $169,900 (0.0%) $197,445 (-7.5%) 0.58 667
    2018-12-01 $166,500 (1.2%) $195,220 (-0.8%) 0.57 662
    2019-01-01 $168,586 (5.4%) $196,657 (-1.3%) 0.58 640
    2019-02-01 $168,225 (0.9%) $197,626 (-3.8%) 0.57 635
    2019-03-01 $168,500 (-2.9%) $199,434 (-4.5%) 0.55 742
    2019-04-01 $172,425 (1.4%) $203,928 (-2.7%) 0.55 883
    2019-05-01 $182,250 (1.3%) $210,689 (-2.6%) 0.57 862
    2019-06-01 $187,995 (5.9%) $217,241 (1.0%) 0.59 862
    2019-07-01 $186,495 (5.0%) $217,998 (3.3%) 0.58 864
    2019-08-01 $183,336 (4.4%) $214,370 (4.0%) 0.58 855
    2019-09-01 $180,841 (3.3%) $212,232 (5.2%) 0.58 841
    2019-10-01 $179,702 (5.7%) $211,473 (5.8%) 0.58 835
    2019-11-01 $184,950 (8.9%) $211,247 (7.0%) 0.61 827
    2019-12-01 $185,080 (11.2%) $210,364 (7.8%) 0.62 731
    2020-01-01 $185,413 (10.0%) $208,704 (6.1%) 0.62 713
    2020-02-01 $189,900 (12.9%) $206,735 (4.6%) 0.62 767
    2020-03-01 $188,873 (12.1%) $211,485 (6.0%) 0.59 780
    2020-04-01 $189,900 (10.1%) $215,026 (5.4%) 0.59 748
    2020-05-01 $199,000 (9.2%) $221,377 (5.1%) 0.60 723
    2020-06-01 $200,000 (6.4%) $226,102 (4.1%) 0.59 720
    2020-07-01 $192,900 (3.4%) $219,752 (0.8%) 0.56 738
    2020-08-01 $189,900 (3.6%) $221,338 (3.3%) 0.54 686
    2020-09-01 $189,925 (5.0%) $224,469 (5.8%) 0.54 629
    2020-10-01 $190,900 (6.2%) $226,735 (7.2%) 0.55 579
    2020-11-01 $189,950 (2.7%) $227,909 (7.9%) 0.56 570
    2020-12-01 $189,475 (2.4%) $225,849 (7.4%) 0.56 548
    2021-01-01 $189,900 (2.4%) $225,072 (7.8%) 0.57 523
    2021-02-01 $206,725 (8.9%) $232,198 (12.3%) 0.60 534
    2021-03-01 $199,950 (5.9%) $232,312 (9.9%) 0.57 545
    2021-04-01 $214,925 (13.2%) $244,884 (13.9%) 0.58 544
    2021-05-01 $210,000 (5.5%) $245,144 (10.7%) 0.56 540
    2021-06-01 $212,450 (6.2%) $245,306 (8.5%) 0.56 549
    2021-07-01 $206,950 (7.3%) $240,368 (9.4%) 0.55 549
    2021-08-01 $217,100 (14.3%) $626,991 (183.3%) 0.58 576
    2021-09-01 $219,100 (15.4%) $617,263 (175.0%) 0.58 606
    2021-10-01 $217,300 (13.8%) $649,270 (186.4%) 0.58 566
    2021-11-01 $222,500 (17.1%) $659,387 (189.3%) 0.59 555
    2021-12-01 $225,053 (18.8%) $264,812 (17.3%) 0.61 531
    2022-01-01 $233,500 (23.0%) $267,587 (18.9%) 0.63 484
    2022-02-01 $239,000 (15.6%) $272,103 (17.2%) 0.62 482
    2022-03-01 $235,000 (17.5%) $266,241 (14.6%) 0.59 496
    2022-04-01 $235,000 (9.3%) $271,235 (10.8%) 0.56 450
    2022-05-01 $242,945 (15.7%) $276,034 (12.6%) 0.56 519
    2022-06-01 $257,601 (21.3%) $290,234 (18.3%) 0.57 591
    2022-07-01 $265,000 (28.1%) $288,454 (20.0%) 0.60 610
    2022-08-01 $251,114 (15.7%) $281,749 (-55.1%) 0.58 619
    2022-09-01 $267,475 (22.1%) $288,745 (-53.2%) 0.63 610
    2022-10-01 $273,763 (26.0%) $292,797 (-54.9%) 0.64 610
    2022-11-01 $274,539 (23.4%) $288,302 (-56.3%) 0.66 585
    2022-12-01 $269,900 (19.9%) $284,580 (7.5%) 0.67 544
    2023-01-01 $260,950 (11.8%) $279,849 (4.6%) 0.65 530
    2023-02-01 $255,000 (6.7%) $272,791 (0.3%) 0.62 534
    2023-03-01 $259,968 (10.6%) $283,950 (6.7%) 0.61 494
    2023-04-01 $259,000 (10.2%) $282,803 (4.3%) 0.60 520
    2023-05-01 $266,723 (9.8%) $291,368 (5.6%) 0.60 500
    2023-06-01 $273,950 (6.4%) $300,362 (3.5%) 0.62 507
    2023-07-01 $276,990 (4.5%) $301,539 (4.5%) 0.63 519
    2023-08-01 $275,445 (9.7%) $299,320 (6.2%) 0.63 510
    2023-09-01 $271,576 (1.5%) $292,625 (1.3%) 0.63 509
    2023-10-01 $266,995 (-2.5%) $289,964 (-1.0%) 0.63 521
    2023-11-01 $260,288 (-5.2%) $284,980 (-1.2%) 0.62 490
    2023-12-01 $257,450 (-4.6%) $279,264 (-1.9%) 0.63 454
    2024-01-01 $252,425 (-3.3%) $266,068 (-4.9%) 0.62 455
    2024-02-01 $248,406 (-2.6%) $265,706 (-2.6%) 0.60 501
    2024-03-01 $249,500 (-4.0%) $277,230 (-2.4%) 0.59 513
    Florence's median listing price for 2024-03-01 was $249,500, a difference of $-10,468 (-4.0%) versus the prior year and $1,094 versus the prior month.

    Florence's median listing price comes in at 59% of the national average.

    Florence's average listing price for 2024-03-01 was $277,230, a difference of $-6,720 (-2.4%) versus the prior year and $11,524 versus the prior month.

    For the 2024-03-01 period, Florence had 513 MLS listings, a difference of 12 listings (2%) versus the prior month and 19 listings (4%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Florence (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 96 days 1,890 sqft
    2018-02-01 96 days 1,952 sqft
    2018-03-01 73 days 2,030 sqft
    2018-04-01 68 days 2,074 sqft
    2018-05-01 67 days 2,100 sqft
    2018-06-01 71 days 2,086 sqft
    2018-07-01 77 days 2,082 sqft
    2018-08-01 81 days 2,045 sqft
    2018-09-01 89 days 2,008 sqft
    2018-10-01 89 days 1,922 sqft
    2018-11-01 94 days 1,861 sqft
    2018-12-01 93 days 1,849 sqft
    2019-01-01 93 days 1,868 sqft
    2019-02-01 94 days 1,902 sqft
    2019-03-01 88 days 1,904 sqft
    2019-04-01 82 days 1,921 sqft
    2019-05-01 80 days 1,980 sqft
    2019-06-01 79 days 2,020 sqft
    2019-07-01 78 days 2,071 sqft
    2019-08-01 80 days 2,020 sqft
    2019-09-01 82 days 1,982 sqft
    2019-10-01 82 days 1,980 sqft
    2019-11-01 79 days 1,981 sqft
    2019-12-01 88 days 1,984 sqft
    2020-01-01 95 days 1,984 sqft
    2020-02-01 89 days 2,003 sqft
    2020-03-01 70 days 2,009 sqft
    2020-04-01 74 days 2,030 sqft
    2020-05-01 78 days 2,072 sqft
    2020-06-01 81 days 2,092 sqft
    2020-07-01 69 days 2,043 sqft
    2020-08-01 66 days 2,002 sqft
    2020-09-01 75 days 2,035 sqft
    2020-10-01 74 days 2,010 sqft
    2020-11-01 59 days 1,884 sqft
    2020-12-01 61 days 1,849 sqft
    2021-01-01 61 days 1,900 sqft
    2021-02-01 46 days 2,070 sqft
    2021-03-01 49 days 2,041 sqft
    2021-04-01 50 days 2,045 sqft
    2021-05-01 50 days 2,034 sqft
    2021-06-01 48 days 1,969 sqft
    2021-07-01 45 days 1,882 sqft
    2021-08-01 44 days 1,931 sqft
    2021-09-01 44 days 1,964 sqft
    2021-10-01 54 days 1,888 sqft
    2021-11-01 56 days 1,911 sqft
    2021-12-01 52 days 1,905 sqft
    2022-01-01 61 days 1,906 sqft
    2022-02-01 53 days 1,900 sqft
    2022-03-01 44 days 1,871 sqft
    2022-04-01 46 days 1,837 sqft
    2022-05-01 38 days 1,829 sqft
    2022-06-01 37 days 1,923 sqft
    2022-07-01 44 days 1,956 sqft
    2022-08-01 54 days 1,948 sqft
    2022-09-01 55 days 1,966 sqft
    2022-10-01 56 days 2,002 sqft
    2022-11-01 64 days 2,050 sqft
    2022-12-01 74 days 1,961 sqft
    2023-01-01 82 days 1,956 sqft
    2023-02-01 75 days 1,937 sqft
    2023-03-01 65 days 1,949 sqft
    2023-04-01 55 days 1,914 sqft
    2023-05-01 51 days 1,962 sqft
    2023-06-01 51 days 1,961 sqft
    2023-07-01 51 days 1,959 sqft
    2023-08-01 52 days 1,927 sqft
    2023-09-01 53 days 1,913 sqft
    2023-10-01 52 days 1,920 sqft
    2023-11-01 56 days 1,831 sqft
    2023-12-01 66 days 1,827 sqft
    2024-01-01 72 days 1,724 sqft
    2024-02-01 60 days 1,737 sqft
    2024-03-01 51 days 1,755 sqft
    Florence's median listing age (time on market) for 2024-03-01 was 51 days. This is -22% shorter than the same period one year ago.

    Florence's median square footage for active listings during the 2024-03-01 period was 1,755 sqft. One year prior, the average listing was 1,949 sqft.