Gaffney USDA Loan Rates, Closing Costs & Stats

Gaffney, 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.

Gaffney's 25 lenders originated 59 USDA loans during 2022. The total origination value was $10,355,000, with an average USDA loan value of $175,508.

Gaffney USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Gaffney averaged -0.29% for the week of 2024-02-23, compared to the national average (all USDA variants) of 0% for the same period.

Gaffney's average USDA mortgage closing costs are $4,844.

The average rate for the prior week (2024-02-16) was 6.59% and one month ago for the week of 2024-01-19, the average rate was 6.07%.

The average rate one year ago was 5.88%.

For refis of the same type during the week of 2024-02-23, the average rate was 0.2%.

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

Gaffney 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 Gaffney level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
PRIMELENDING, A PLAINSCAPITAL COMPANY 10 5.58% $7,563
ARK-LA-TEX FINANCIAL SERVICES, LLC. 8 4.81% $5,761
MIDLAND MORTGAGE CORPORATION 6 4.63% $2,198
MOVEMENT MORTGAGE, LLC 5 5.53% $8,492
GUILD MORTGAGE COMPANY 3 4.13% $6,578
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 5.16% $5,501
UNITED WHOLESALE MORTGAGE, LLC 2 5.19% $5,516
CARDINAL FINANCIAL 2 5.31% $7,059
Renasant Bank 2 4.63% $5,700
Equity Prime Mortgage LLC 2 4.63% $5,892
HomeTrust Bank 2 3.63% $3,722
SOUTHWEST FUNDING, LP 1 4.00% $6,071
United Bank 1 5.25% $5,267
UNITED MORTGAGE CORP 1 3.38% $5,041
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.63% $13,357
CALIBER HOME LOANS, INC. 1 5.00% $9,742
C & F Mortgage Corporation 1 5.63% $4,893
CROSSCOUNTRY MORTGAGE, LLC 1 6.63% $9,820
DAS Acquisition Company, LLC 1 4.63% $6,967
FREEDOM MORTGAGE CORPORATION 1 3.25% $6,704
HANCOCK MORTGAGE PARTNERS, LLC 1 5.25% $11,235
Allen Tate Mortgage Partners, LLC 1 3.88% $4,607
MID AMERICA MORTGAGE, INC. 1 3.63% $4,079
PENNYMAC LOAN SERVICES, LLC 1 3.25% $3,790
SeaTrust Mortgage Company 1 6.00% $7,530

The top Gaffney USDA lender as defined by loan originations is PRIMELENDING, A PLAINSCAPITAL COMPANY, with 10 USDA loans originated. Their average total fees are $7,563, which is $1,802 higher than the next largest lender, ARK-LA-TEX FINANCIAL SERVICES, LLC..

The lowest fee Gaffney USDA lenders (with over 10 loans originated) are PRIMELENDING, A PLAINSCAPITAL COMPANY ($7,563), .

The lowest rate Gaffney USDA lenders (with over 10 loans originated) are PRIMELENDING, A PLAINSCAPITAL COMPANY (5.58%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Gaffney (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 $139,675 (20.3%) $193,080 (32.5%) 0.00 88
2018-02-01 $143,475 (22.2%) $201,476 (43.7%) 0.00 91
2018-03-01 $152,400 (28.4%) $227,829 (62.4%) 0.00 85
2018-04-01 $149,117 (19.4%) $203,148 (39.3%) 0.00 82
2018-05-01 $147,450 (13.1%) $203,162 (33.9%) 0.00 90
2018-06-01 $162,400 (18.2%) $208,744 (30.3%) 0.00 87
2018-07-01 $162,700 (21.5%) $204,581 (16.8%) 0.00 72
2018-08-01 $148,800 (10.3%) $187,993 (-2.9%) 0.00 81
2018-09-01 $159,900 (18.5%) $186,619 (-0.3%) 0.00 93
2018-10-01 $159,900 (14.3%) $195,094 (11.5%) 0.00 103
2018-11-01 $158,675 (19.9%) $196,482 (11.3%) 0.00 110
2018-12-01 $144,900 (3.6%) $191,626 (10.9%) 0.00 105
2019-01-01 $146,200 (4.7%) $199,982 (3.6%) 0.00 93
2019-02-01 $144,900 (1.0%) $212,655 (5.6%) 0.00 90
2019-03-01 $161,214 (5.8%) $216,790 (-4.9%) 0.00 78
2019-04-01 $172,314 (15.6%) $215,557 (6.1%) 0.00 74
2019-05-01 $173,563 (17.7%) $216,180 (6.4%) 0.00 86
2019-06-01 $167,900 (3.4%) $213,928 (2.5%) 0.00 92
2019-07-01 $166,250 (2.2%) $211,670 (3.5%) 0.00 97
2019-08-01 $170,032 (14.3%) $208,578 (11.0%) 0.00 90
2019-09-01 $183,205 (14.6%) $215,938 (15.7%) 0.00 81
2019-10-01 $187,711 (17.4%) $219,795 (12.7%) 0.00 75
2019-11-01 $174,750 (10.1%) $216,446 (10.2%) 0.00 81
2019-12-01 $169,950 (17.3%) $208,306 (8.7%) 0.00 91
2020-01-01 $189,975 (29.9%) $218,880 (9.5%) 0.00 87
2020-02-01 $180,000 (24.2%) $208,536 (-1.9%) 0.00 102
2020-03-01 $159,900 (-0.8%) $184,056 (-15.1%) 0.00 109
2020-04-01 $170,975 (-0.8%) $190,576 (-11.6%) 0.00 107
2020-05-01 $180,950 (4.3%) $192,092 (-11.1%) 0.00 86
2020-06-01 $185,750 (10.6%) $192,320 (-10.1%) 0.00 77
2020-07-01 $162,125 (-2.5%) $193,445 (-8.6%) 0.00 61
2020-08-01 $183,850 (8.1%) $187,670 (-10.0%) 0.00 61
2020-09-01 $189,900 (3.7%) $204,086 (-5.5%) 0.00 60
2020-10-01 $179,900 (-4.2%) $197,825 (-10.0%) 0.00 49
2020-11-01 $202,200 (15.7%) $278,455 (28.7%) 0.00 46
2020-12-01 $229,225 (34.9%) $286,820 (37.7%) 0.00 43
2021-01-01 $212,400 (11.8%) $260,040 (18.8%) 0.00 43
2021-02-01 $212,175 (17.9%) $273,799 (31.3%) 0.00 36
2021-03-01 $221,550 (38.6%) $292,539 (58.9%) 0.00 26
2021-04-01 $218,923 (28.0%) $317,044 (66.4%) 0.00 25
2021-05-01 $218,900 (21.0%) $352,768 (83.7%) 0.00 26
2021-06-01 $200,574 (8.0%) $319,795 (66.3%) 0.00 29
2021-07-01 $204,923 (26.4%) $304,931 (57.6%) 0.00 39
2021-08-01 $225,473 (22.6%) $324,938 (73.1%) 0.00 47
2021-09-01 $184,700 (-2.7%) $261,647 (28.2%) 0.00 52
2021-10-01 $185,000 (2.8%) $289,882 (46.5%) 0.00 51
2021-11-01 $208,236 (3.0%) $281,687 (1.2%) 0.00 43
2021-12-01 $226,000 (-1.4%) $272,095 (-5.1%) 0.00 42
2022-01-01 $224,500 (5.7%) $259,426 (-0.2%) 0.00 36
2022-02-01 $263,125 (24.0%) $274,683 (0.3%) 0.00 51
2022-03-01 $269,900 (21.8%) $261,752 (-10.5%) 0.00 50
2022-04-01 $249,000 (13.7%) $274,136 (-13.5%) 0.00 46
2022-05-01 $209,950 (-4.1%) $286,190 (-18.9%) 0.00 57
2022-06-01 $223,650 (11.5%) $293,134 (-8.3%) 0.00 72
2022-07-01 $251,900 (22.9%) $293,673 (-3.7%) 0.00 84
2022-08-01 $247,038 (9.6%) $288,690 (-11.2%) 0.00 95
2022-09-01 $259,900 (40.7%) $288,604 (10.3%) 0.00 110
2022-10-01 $274,400 (48.3%) $295,060 (1.8%) 0.00 116
2022-11-01 $276,675 (32.9%) $285,592 (1.4%) 0.00 117
2022-12-01 $260,000 (15.0%) $269,054 (-1.1%) 0.00 122
2023-01-01 $261,945 (16.7%) $263,806 (1.7%) 0.00 113
2023-02-01 $253,750 (-3.6%) $265,026 (-3.5%) 0.00 103
2023-03-01 $253,295 (-6.2%) $273,702 (4.6%) 0.00 92
2023-04-01 $258,000 (3.6%) $284,428 (3.8%) 0.00 91
2023-05-01 $272,450 (29.8%) $293,308 (2.5%) 0.00 116
2023-06-01 $272,000 (21.6%) $303,881 (3.7%) 0.00 119
2023-07-01 $255,500 (1.4%) $302,023 (2.8%) 0.00 120
2023-08-01 $258,950 (4.8%) $306,158 (6.1%) 0.00 124
2023-09-01 $255,545 (-1.7%) $305,165 (5.7%) 0.00 114
2023-10-01 $265,355 (-3.3%) $301,273 (2.1%) 0.00 96
2023-11-01 $267,900 (-3.2%) $302,120 (5.8%) 0.00 95
2023-12-01 $279,000 (7.3%) $302,043 (12.3%) 0.00 94
Gaffney's median listing price for 2023-12-01 was $279,000, a difference of $19,000 (7.3%) versus the prior year and $11,100 versus the prior month.

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

Gaffney's average listing price for 2023-12-01 was $302,043, a difference of $32,989 (12.3%) versus the prior year and $-77 versus the prior month.

For the 2023-12-01 period, Gaffney had 94 MLS listings, a difference of -1 listings (-1%) versus the prior month and -28 listings (-23%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Gaffney (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,680 sqft
2018-02-01 0 days 1,719 sqft
2018-03-01 0 days 1,836 sqft
2018-04-01 0 days 1,794 sqft
2018-05-01 0 days 1,871 sqft
2018-06-01 0 days 1,900 sqft
2018-07-01 0 days 1,865 sqft
2018-08-01 0 days 1,812 sqft
2018-09-01 0 days 1,800 sqft
2018-10-01 0 days 1,754 sqft
2018-11-01 0 days 1,876 sqft
2018-12-01 0 days 1,730 sqft
2019-01-01 0 days 1,702 sqft
2019-02-01 0 days 1,836 sqft
2019-03-01 0 days 1,893 sqft
2019-04-01 0 days 1,865 sqft
2019-05-01 0 days 1,810 sqft
2019-06-01 0 days 1,750 sqft
2019-07-01 0 days 1,839 sqft
2019-08-01 0 days 1,816 sqft
2019-09-01 0 days 1,889 sqft
2019-10-01 0 days 1,926 sqft
2019-11-01 0 days 1,900 sqft
2019-12-01 0 days 1,808 sqft
2020-01-01 0 days 1,809 sqft
2020-02-01 0 days 1,800 sqft
2020-03-01 0 days 1,724 sqft
2020-04-01 0 days 1,802 sqft
2020-05-01 0 days 1,777 sqft
2020-06-01 0 days 1,573 sqft
2020-07-01 0 days 1,535 sqft
2020-08-01 0 days 1,505 sqft
2020-09-01 0 days 1,552 sqft
2020-10-01 0 days 1,558 sqft
2020-11-01 0 days 1,707 sqft
2020-12-01 0 days 1,803 sqft
2021-01-01 0 days 1,751 sqft
2021-02-01 0 days 1,626 sqft
2021-03-01 0 days 1,756 sqft
2021-04-01 0 days 1,721 sqft
2021-05-01 0 days 1,542 sqft
2021-06-01 0 days 1,623 sqft
2021-07-01 0 days 1,629 sqft
2021-08-01 0 days 1,909 sqft
2021-09-01 0 days 1,560 sqft
2021-10-01 0 days 1,747 sqft
2021-11-01 0 days 1,704 sqft
2021-12-01 0 days 1,785 sqft
2022-01-01 0 days 1,510 sqft
2022-02-01 0 days 1,738 sqft
2022-03-01 0 days 1,717 sqft
2022-04-01 0 days 1,691 sqft
2022-05-01 0 days 1,691 sqft
2022-06-01 0 days 1,711 sqft
2022-07-01 0 days 1,837 sqft
2022-08-01 0 days 1,770 sqft
2022-09-01 0 days 1,765 sqft
2022-10-01 0 days 1,770 sqft
2022-11-01 0 days 1,761 sqft
2022-12-01 0 days 1,761 sqft
2023-01-01 0 days 1,751 sqft
2023-02-01 0 days 1,770 sqft
2023-03-01 0 days 1,748 sqft
2023-04-01 0 days 1,751 sqft
2023-05-01 0 days 1,688 sqft
2023-06-01 0 days 1,790 sqft
2023-07-01 0 days 1,759 sqft
2023-08-01 0 days 1,684 sqft
2023-09-01 0 days 1,696 sqft
2023-10-01 0 days 1,599 sqft
2023-11-01 0 days 1,587 sqft
2023-12-01 0 days 1,594 sqft
Gaffney's median listing age (time on market) for 2023-12-01 was 0 days.

Gaffney's median square footage for active listings during the 2023-12-01 period was 1,594 sqft. One year prior, the average listing was 1,761 sqft.