Gaffney USDA Loan Rates, Closing Costs & Stats

Gaffney, 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.

    Gaffney's 17 lenders originated 34 USDA loans during 2023. The total origination value was $6,800,000, with an average USDA loan value of $200,000.

    Gaffney USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Gaffney averaged 6.07% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

    Gaffney's average USDA mortgage closing costs are $5,072.

    The average rate for the prior week (2024-12-06) was 6.21% and one month ago for the week of 2024-11-08, the average rate was 6.42%.

    The average rate one year ago was 6.59%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.1%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.73% $10,303
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.48% $5,871
    INSPIRE HOME LOANS INC. 3 6.25% $7,234
    GUILD MORTGAGE COMPANY 3 6.79% $9,602
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.83% $8,098
    MOVEMENT MORTGAGE, LLC 3 6.96% $9,225
    HOMESTAR FINANCIAL CORPORATION 2 7.25% $4,748
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.63% $9,047
    Renasant Bank 1 6.25% $4,122
    Sierra Pacific Mortgage Company, Inc. 1 5.63% $4,970
    UNITED WHOLESALE MORTGAGE, LLC 1 5.88% $7,765
    BROKER SOLUTIONS, INC. 1 6.50% $5,161
    CARDINAL FINANCIAL 1 6.75% $7,116
    First Reliance Bank 1 6.88% $4,684
    MIDLAND MORTGAGE CORPORATION 1 6.50% $2,408
    Neighborhood Loans, Inc. 1 7.00% $8,788
    NEWREZ LLC 1 7.13% $6,014

    The top Gaffney USDA lender as defined by loan originations is PRIMELENDING, A PLAINSCAPITAL COMPANY, with 5 USDA loans originated. Their average total fees are $10,303, which is $4,432 higher than the next largest lender, ARK-LA-TEX FINANCIAL SERVICES, LLC..

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

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

    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
    2024-01-01 $274,950 (5.0%) $301,337 (14.2%) 0.00 102
    2024-02-01 $253,675 (0.0%) $290,714 (9.7%) 0.00 107
    2024-03-01 $249,000 (-1.7%) $289,553 (5.8%) 0.00 107
    2024-04-01 $254,950 (-1.2%) $309,153 (8.7%) 0.00 115
    2024-05-01 $278,475 (2.2%) $314,739 (7.3%) 0.00 106
    2024-06-01 $246,445 (-9.4%) $296,819 (-2.3%) 0.00 109
    2024-07-01 $246,900 (-3.4%) $282,686 (-6.4%) 0.00 115
    2024-08-01 $247,788 (-4.3%) $296,442 (-3.2%) 0.00 120
    2024-09-01 $251,013 (-1.8%) $306,251 (0.4%) 0.00 134
    2024-10-01 $255,988 (-3.5%) $312,502 (3.7%) 0.00 132
    2024-11-01 $244,389 (-8.8%) $298,005 (-1.4%) 0.00 133
    Gaffney's median listing price for 2024-11-01 was $244,389, a difference of $-23,511 (-8.8%) versus the prior year and $-11,599 versus the prior month.

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

    Gaffney's average listing price for 2024-11-01 was $298,005, a difference of $-4,115 (-1.4%) versus the prior year and $-14,497 versus the prior month.

    For the 2024-11-01 period, Gaffney had 133 MLS listings, a difference of 1 listings (1%) versus the prior month and 38 listings (40%) 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
    2024-01-01 0 days 1,599 sqft
    2024-02-01 0 days 1,529 sqft
    2024-03-01 0 days 1,600 sqft
    2024-04-01 0 days 1,680 sqft
    2024-05-01 0 days 1,784 sqft
    2024-06-01 0 days 1,759 sqft
    2024-07-01 0 days 1,700 sqft
    2024-08-01 0 days 1,639 sqft
    2024-09-01 0 days 1,595 sqft
    2024-10-01 0 days 1,610 sqft
    2024-11-01 0 days 1,581 sqft
    Gaffney's median listing age (time on market) for 2024-11-01 was 0 days.

    Gaffney's median square footage for active listings during the 2024-11-01 period was 1,581 sqft. One year prior, the average listing was 1,587 sqft.