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 9 lenders originated 25 USDA loans during 2023. The total origination value was $4,535,000, with an average USDA loan value of $181,400.
Forest City USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Forest City
averaged
7.03%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Forest City's average USDA mortgage closing costs are $4,915.
The average rate for the prior week (2024-04-12) was
6.88% and
one month ago for the week of 2024-03-15, the
average rate was 6.47%.
The average rate one year ago was 6.4%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.86%.
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | 6 | 6.67% | $7,196 |
| HOMESTAR FINANCIAL CORPORATION | 5 | 6.53% | $5,007 |
| MOVEMENT MORTGAGE, LLC | 5 | 6.68% | $7,727 |
| GUILD MORTGAGE COMPANY | 3 | 6.25% | $8,962 |
| Alcova Mortgage LLC | 1 | 7.50% | $1,732 |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | 1 | 6.13% | $7,411 |
| American Security Mortgage Corp. | 1 | 5.63% | $7,621 |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | 1 | 6.63% | $4,223 |
| LOANDEPOT.COM, LLC | 1 | 6.63% | $8,715 |
The top Forest City USDA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with
6 USDA loans originated. Their average total fees are
$7,196, which is $2,189
higher than the next largest lender,
HOMESTAR FINANCIAL CORPORATION.
The lowest fee Forest City USDA lenders (with over 10 loans originated) are
.
The lowest rate Forest City USDA lenders (with over 10 loans originated) are
.
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 |
| 2024-01-01 | $373,688 (15.3%) | $533,780 (14.0%) | 0.00 | 195 |
| 2024-02-01 | $361,150 (11.1%) | $528,930 (8.5%) | 0.00 | 169 |
| 2024-03-01 | $386,750 (8.2%) | $529,320 (2.7%) | 0.00 | 166 |
Forest City's median listing price comes in at 0% of the national average.
Forest City's average listing price for 2024-03-01 was $529,320, a difference of $13,855 (2.7%) versus the prior year and $390 versus the prior month.
For the 2024-03-01 period, Forest City had 166 MLS listings, a difference of -3 listings (-2%) versus the prior month and 52 listings (46%) 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 |
| 2024-01-01 | 0 days | 1,684 sqft |
| 2024-02-01 | 0 days | 1,807 sqft |
| 2024-03-01 | 0 days | 1,808 sqft |
Forest City's median square footage for active listings during the 2024-03-01 period was 1,808 sqft. One year prior, the average listing was 1,601 sqft.