Forest City USDA Loan Rates, Closing Costs & Stats

Forest City, NC

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.

Forest City's 12 lenders originated 48 USDA loans during 2022. The total origination value was $8,370,000, with an average USDA loan value of $174,375.

Forest City USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Forest City averaged -0.32% for the week of 2024-02-23, compared to the national average (all USDA variants) of 0% for the same period.

Forest City's average USDA mortgage closing costs are $4,782.

The average rate for the prior week (2024-02-16) was 6.06% and one month ago for the week of 2024-01-19, the average rate was 5.84%.

The average rate one year ago was 5.65%.

For refis of the same type during the week of 2024-02-23, the average rate was -0.89%.

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

Forest City 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 Forest City level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
HOMESTAR FINANCIAL CORPORATION 16 5.48% $5,350
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 15 4.99% $6,650
MOVEMENT MORTGAGE, LLC 6 5.58% $7,115
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 4.38% $7,284
EQUITY RESOURCES, INC. 1 3.38% $4,522
Fifth Third Bank 1 3.75% $4,713
RADIUS FINANCIAL GROUP INC. 1 3.38% $5,535
Alcova Mortgage LLC 1 4.13% $5,780
UNITED WHOLESALE MORTGAGE, LLC 1 5.00% $4,136
American Security Mortgage Corp. 1 5.38% $5,859
AMERIFIRST FINANCIAL CORPORATION 1 5.63% $7,763
Bank of England 1 6.25% $9,798

The top Forest City USDA lender as defined by loan originations is HOMESTAR FINANCIAL CORPORATION, with 16 USDA loans originated. Their average total fees are $5,350, which is $1,300 lower than the next largest lender, ATLANTIC BAY MORTGAGE GROUP, L.L.C..

The lowest fee Forest City USDA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION ($5,350), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($6,650), .

The lowest rate Forest City USDA lenders (with over 10 loans originated) are ATLANTIC BAY MORTGAGE GROUP, L.L.C. (4.99%), HOMESTAR FINANCIAL CORPORATION (5.48%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Forest City (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 $229,900 (8.2%) $353,032 (15.3%) 0.00 421
2018-02-01 $229,450 (5.5%) $367,160 (19.6%) 0.00 396
2018-03-01 $231,500 (6.6%) $373,750 (20.7%) 0.00 406
2018-04-01 $247,400 (10.0%) $389,595 (19.9%) 0.00 429
2018-05-01 $259,700 (8.3%) $404,258 (19.6%) 0.00 459
2018-06-01 $295,000 (19.0%) $448,995 (30.5%) 0.00 426
2018-07-01 $291,725 (16.9%) $444,670 (27.2%) 0.00 466
2018-08-01 $299,900 (17.8%) $461,531 (30.9%) 0.00 467
2018-09-01 $299,900 (15.8%) $461,718 (28.3%) 0.00 498
2018-10-01 $299,000 (12.8%) $448,602 (21.6%) 0.00 483
2018-11-01 $299,000 (15.4%) $441,686 (18.2%) 0.00 480
2018-12-01 $299,900 (20.0%) $443,907 (18.7%) 0.00 446
2019-01-01 $299,900 (30.5%) $445,626 (26.2%) 0.00 422
2019-02-01 $299,900 (30.7%) $445,755 (21.4%) 0.00 415
2019-03-01 $299,300 (29.3%) $434,822 (16.3%) 0.00 438
2019-04-01 $299,800 (21.2%) $437,894 (12.4%) 0.00 455
2019-05-01 $299,700 (15.4%) $432,929 (7.1%) 0.00 487
2019-06-01 $299,950 (1.7%) $443,239 (-1.3%) 0.00 508
2019-07-01 $312,450 (7.1%) $439,436 (-1.2%) 0.00 493
2019-08-01 $314,482 (4.9%) $434,023 (-6.0%) 0.00 478
2019-09-01 $306,280 (2.1%) $430,408 (-6.8%) 0.00 467
2019-10-01 $299,450 (0.2%) $425,555 (-5.1%) 0.00 461
2019-11-01 $297,000 (-0.7%) $409,505 (-7.3%) 0.00 433
2019-12-01 $287,475 (-4.1%) $399,899 (-9.9%) 0.00 389
2020-01-01 $298,000 (-0.6%) $413,424 (-7.2%) 0.00 310
2020-02-01 $294,950 (-1.7%) $417,965 (-6.2%) 0.00 293
2020-03-01 $299,000 (-0.1%) $427,951 (-1.6%) 0.00 294
2020-04-01 $295,500 (-1.4%) $430,272 (-1.7%) 0.00 294
2020-05-01 $325,000 (8.4%) $450,147 (4.0%) 0.00 274
2020-06-01 $349,800 (16.6%) $462,361 (4.3%) 0.00 254
2020-07-01 $349,900 (12.0%) $470,013 (7.0%) 0.00 231
2020-08-01 $349,000 (11.0%) $471,745 (8.7%) 0.00 200
2020-09-01 $349,000 (14.0%) $473,777 (10.1%) 0.00 163
2020-10-01 $312,000 (4.2%) $442,113 (3.9%) 0.00 157
2020-11-01 $299,250 (0.8%) $434,808 (6.2%) 0.00 150
2020-12-01 $298,225 (3.7%) $443,495 (10.9%) 0.00 128
2021-01-01 $284,500 (-4.5%) $412,099 (-0.3%) 0.00 109
2021-02-01 $269,900 (-8.5%) $396,613 (-5.1%) 0.00 109
2021-03-01 $278,200 (-7.0%) $441,213 (3.1%) 0.00 84
2021-04-01 $307,975 (4.2%) $478,908 (11.3%) 0.00 79
2021-05-01 $414,600 (27.6%) $539,821 (19.9%) 0.00 84
2021-06-01 $409,375 (17.0%) $527,544 (14.1%) 0.00 114
2021-07-01 $349,000 (-0.3%) $482,663 (2.7%) 0.00 134
2021-08-01 $344,500 (-1.3%) $478,854 (1.5%) 0.00 137
2021-09-01 $361,950 (3.7%) $496,566 (4.8%) 0.00 127
2021-10-01 $344,000 (10.3%) $486,376 (10.0%) 0.00 133
2021-11-01 $340,000 (13.6%) $458,302 (5.4%) 0.00 117
2021-12-01 $345,000 (15.7%) $475,651 (7.3%) 0.00 116
2022-01-01 $320,000 (12.5%) $458,027 (11.1%) 0.00 95
2022-02-01 $327,500 (21.3%) $451,837 (13.9%) 0.00 84
2022-03-01 $377,200 (35.6%) $492,847 (11.7%) 0.00 78
2022-04-01 $400,000 (29.9%) $503,768 (5.2%) 0.00 79
2022-05-01 $332,725 (-19.8%) $474,891 (-12.0%) 0.00 96
2022-06-01 $325,450 (-20.5%) $488,440 (-7.4%) 0.00 108
2022-07-01 $335,000 (-4.0%) $499,314 (3.5%) 0.00 155
2022-08-01 $343,975 (-0.2%) $493,602 (3.1%) 0.00 180
2022-09-01 $345,450 (-4.6%) $502,280 (1.2%) 0.00 165
2022-10-01 $349,900 (1.7%) $490,634 (0.9%) 0.00 178
2022-11-01 $348,450 (2.5%) $517,655 (13.0%) 0.00 174
2022-12-01 $330,000 (-4.4%) $499,296 (5.0%) 0.00 175
2023-01-01 $324,000 (1.3%) $468,131 (2.2%) 0.00 152
2023-02-01 $325,000 (-0.8%) $487,416 (7.9%) 0.00 120
2023-03-01 $357,450 (-5.2%) $515,465 (4.6%) 0.00 114
2023-04-01 $372,450 (-6.9%) $542,765 (7.7%) 0.00 124
2023-05-01 $425,738 (28.0%) $584,732 (23.1%) 0.00 120
2023-06-01 $442,700 (36.0%) $572,558 (17.2%) 0.00 141
2023-07-01 $434,500 (29.7%) $561,971 (12.6%) 0.00 154
2023-08-01 $412,363 (19.9%) $544,031 (10.2%) 0.00 150
2023-09-01 $414,900 (20.1%) $554,054 (10.3%) 0.00 169
2023-10-01 $399,500 (14.2%) $520,966 (6.2%) 0.00 195
2023-11-01 $399,250 (14.6%) $547,292 (5.7%) 0.00 210
2023-12-01 $395,000 (19.7%) $540,339 (8.2%) 0.00 193
Forest City's median listing price for 2023-12-01 was $395,000, a difference of $65,000 (19.7%) versus the prior year and $-4,250 versus the prior month.

Forest City's median listing price comes in at 0% of the national average.

Forest City's average listing price for 2023-12-01 was $540,339, a difference of $41,043 (8.2%) versus the prior year and $-6,953 versus the prior month.

For the 2023-12-01 period, Forest City had 193 MLS listings, a difference of -17 listings (-8%) versus the prior month and 18 listings (10%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Forest City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,941 sqft
2018-02-01 0 days 1,917 sqft
2018-03-01 0 days 1,978 sqft
2018-04-01 0 days 2,006 sqft
2018-05-01 0 days 2,005 sqft
2018-06-01 0 days 2,003 sqft
2018-07-01 0 days 2,024 sqft
2018-08-01 0 days 2,041 sqft
2018-09-01 0 days 2,073 sqft
2018-10-01 0 days 2,077 sqft
2018-11-01 0 days 2,078 sqft
2018-12-01 0 days 2,100 sqft
2019-01-01 0 days 2,101 sqft
2019-02-01 0 days 2,042 sqft
2019-03-01 0 days 2,024 sqft
2019-04-01 0 days 2,030 sqft
2019-05-01 0 days 2,043 sqft
2019-06-01 0 days 2,180 sqft
2019-07-01 0 days 2,171 sqft
2019-08-01 0 days 2,186 sqft
2019-09-01 0 days 2,134 sqft
2019-10-01 0 days 2,099 sqft
2019-11-01 0 days 2,006 sqft
2019-12-01 0 days 1,959 sqft
2020-01-01 0 days 1,950 sqft
2020-02-01 0 days 1,899 sqft
2020-03-01 0 days 1,974 sqft
2020-04-01 0 days 2,002 sqft
2020-05-01 0 days 2,005 sqft
2020-06-01 0 days 2,100 sqft
2020-07-01 0 days 2,135 sqft
2020-08-01 0 days 2,079 sqft
2020-09-01 0 days 1,951 sqft
2020-10-01 0 days 1,836 sqft
2020-11-01 0 days 1,741 sqft
2020-12-01 0 days 1,739 sqft
2021-01-01 0 days 1,662 sqft
2021-02-01 0 days 1,661 sqft
2021-03-01 0 days 1,716 sqft
2021-04-01 0 days 1,757 sqft
2021-05-01 0 days 2,064 sqft
2021-06-01 0 days 2,147 sqft
2021-07-01 0 days 1,906 sqft
2021-08-01 0 days 1,892 sqft
2021-09-01 0 days 1,906 sqft
2021-10-01 0 days 1,961 sqft
2021-11-01 0 days 1,835 sqft
2021-12-01 0 days 1,833 sqft
2022-01-01 0 days 1,572 sqft
2022-02-01 0 days 1,735 sqft
2022-03-01 0 days 1,914 sqft
2022-04-01 0 days 1,802 sqft
2022-05-01 0 days 1,805 sqft
2022-06-01 0 days 1,787 sqft
2022-07-01 0 days 1,718 sqft
2022-08-01 0 days 1,698 sqft
2022-09-01 0 days 1,672 sqft
2022-10-01 0 days 1,688 sqft
2022-11-01 0 days 1,677 sqft
2022-12-01 0 days 1,664 sqft
2023-01-01 0 days 1,665 sqft
2023-02-01 0 days 1,590 sqft
2023-03-01 0 days 1,601 sqft
2023-04-01 0 days 1,636 sqft
2023-05-01 0 days 1,800 sqft
2023-06-01 0 days 1,831 sqft
2023-07-01 0 days 1,802 sqft
2023-08-01 0 days 1,662 sqft
2023-09-01 0 days 1,664 sqft
2023-10-01 0 days 1,702 sqft
2023-11-01 0 days 1,752 sqft
2023-12-01 0 days 1,751 sqft
Forest City's median listing age (time on market) for 2023-12-01 was 0 days.

Forest City's median square footage for active listings during the 2023-12-01 period was 1,751 sqft. One year prior, the average listing was 1,664 sqft.