Hickory USDA Loan Rates, Closing Costs & Stats

HICKORY-LENOIR-MORGANTON, 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.

Hickory's 29 lenders originated 89 USDA loans during 2023. The total origination value was $18,135,000, with an average USDA loan value of $203,764.

Hickory USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Hickory averaged 6.56% for the week of 2024-05-17, compared to the national average (all USDA variants) of 6.75% for the same period.

Hickory's average USDA mortgage closing costs are $5,257.

The average rate for the prior week (2024-05-10) was 6.39% and one month ago for the week of 2024-04-12, the average rate was 6.52%.

The average rate one year ago was 6.1%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.81%.

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

Hickory 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 Hickory level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 19 6.45% $9,762
CROSSCOUNTRY MORTGAGE, LLC 15 6.73% $7,691
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 5 6.48% $7,125
Alcova Mortgage LLC 5 6.20% $3,665
MOVEMENT MORTGAGE, LLC 4 6.50% $5,614
UNITED WHOLESALE MORTGAGE, LLC 3 6.05% $8,605
American Security Mortgage Corp. 3 6.13% $8,430
CARDINAL FINANCIAL 3 6.38% $10,050
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.54% $8,372
UNION HOME MORTGAGE CORP. 3 6.79% $7,211
SeaTrust Mortgage Company 2 6.38% $10,952
Peoples Bank 2 7.19% $6,635
T2 FINANCIAL LLC 2 5.94% $13,054
GUARANTEED RATE, INC. 2 6.25% $7,368
Renasant Bank 2 5.88% $6,056
EAGLE HOME MORTGAGE, LLC 2 5.81% $5,683
INSPIRE HOME LOANS INC. 1 6.38% $9,463
CIS Financial Services, Inc. 1 6.13% $6,170
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.50% $5,293
PLANET HOME LENDING, LLC 1 7.25% $5,503
SECURITYNATIONAL MORTGAGE COMPANY 1 7.00% $8,114
Truist 1 6.00% $6,248
DHI MORTGAGE COMPANY, LTD. 1 4.75% $3,633
Northpointe Bank 1 6.25% $4,834
First Horizon Bank 1 6.63% $6,148
First Savings Bank 1 6.25% $6,817
GUILD MORTGAGE COMPANY 1 6.63% $6,353
CMG MORTGAGE, INC. 1 6.75% $5,755
HOMESTAR FINANCIAL CORPORATION 1 5.13% $4,552

The top Hickory USDA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 19 USDA loans originated. Their average total fees are $9,762, which is $2,071 higher than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

The lowest fee Hickory USDA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC ($7,691), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($9,762), .

The lowest rate Hickory USDA lenders (with over 10 loans originated) are ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.45%), CROSSCOUNTRY MORTGAGE, LLC (6.73%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Hickory (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 $228,750 (27.6%) $314,555 (18.2%) 0.85 1,032
2018-02-01 $231,950 (26.1%) $322,291 (18.3%) 0.84 1,095
2018-03-01 $246,398 (28.4%) $343,090 (22.6%) 0.86 1,058
2018-04-01 $253,655 (23.7%) $349,105 (21.2%) 0.86 1,118
2018-05-01 $256,880 (19.5%) $353,026 (20.5%) 0.86 1,112
2018-06-01 $259,900 (19.8%) $358,282 (17.6%) 0.87 1,122
2018-07-01 $249,875 (13.6%) $351,641 (13.3%) 0.83 1,204
2018-08-01 $245,250 (9.0%) $352,312 (14.4%) 0.82 1,236
2018-09-01 $238,950 (6.2%) $338,587 (8.1%) 0.80 1,283
2018-10-01 $237,900 (4.9%) $336,271 (7.1%) 0.81 1,287
2018-11-01 $248,000 (5.6%) $338,742 (6.3%) 0.84 1,219
2018-12-01 $249,000 (6.0%) $338,339 (6.7%) 0.86 1,149
2019-01-01 $249,900 (9.3%) $344,359 (9.5%) 0.86 1,005
2019-02-01 $249,950 (7.8%) $340,334 (5.6%) 0.84 989
2019-03-01 $265,543 (7.8%) $356,181 (3.8%) 0.87 925
2019-04-01 $279,800 (10.3%) $377,124 (8.0%) 0.89 866
2019-05-01 $299,250 (16.5%) $391,935 (11.0%) 0.94 861
2019-06-01 $299,000 (15.0%) $398,138 (11.1%) 0.93 872
2019-07-01 $297,750 (19.2%) $394,532 (12.2%) 0.93 884
2019-08-01 $295,486 (20.5%) $392,056 (11.3%) 0.94 872
2019-09-01 $289,841 (21.3%) $385,679 (13.9%) 0.93 851
2019-10-01 $280,225 (17.8%) $377,986 (12.4%) 0.90 845
2019-11-01 $269,900 (8.8%) $365,745 (8.0%) 0.88 840
2019-12-01 $274,900 (10.4%) $369,415 (9.2%) 0.92 777
2020-01-01 $267,450 (7.0%) $372,224 (8.1%) 0.89 702
2020-02-01 $260,000 (4.0%) $370,519 (8.9%) 0.85 686
2020-03-01 $259,950 (-2.1%) $361,376 (1.5%) 0.81 677
2020-04-01 $263,675 (-5.8%) $357,475 (-5.2%) 0.83 669
2020-05-01 $269,900 (-9.8%) $373,722 (-4.7%) 0.82 589
2020-06-01 $279,450 (-6.5%) $389,848 (-2.1%) 0.82 528
2020-07-01 $299,500 (0.6%) $396,934 (0.6%) 0.87 490
2020-08-01 $310,000 (4.9%) $406,247 (3.6%) 0.89 443
2020-09-01 $299,175 (3.2%) $407,475 (5.7%) 0.86 513
2020-10-01 $309,900 (10.6%) $413,087 (9.3%) 0.89 425
2020-11-01 $299,950 (11.1%) $417,807 (14.2%) 0.88 438
2020-12-01 $294,450 (7.1%) $412,280 (11.6%) 0.88 412
2021-01-01 $285,000 (6.6%) $421,957 (13.4%) 0.85 366
2021-02-01 $259,950 (0.0%) $414,807 (12.0%) 0.76 324
2021-03-01 $264,500 (1.8%) $414,911 (14.8%) 0.75 287
2021-04-01 $264,700 (0.4%) $416,582 (16.5%) 0.72 281
2021-05-01 $264,950 (-1.8%) $433,273 (15.9%) 0.70 297
2021-06-01 $267,750 (-4.2%) $428,482 (9.9%) 0.70 342
2021-07-01 $275,000 (-8.2%) $410,979 (3.5%) 0.73 393
2021-08-01 $270,600 (-12.7%) $391,978 (-3.5%) 0.72 402
2021-09-01 $272,500 (-8.9%) $401,846 (-1.4%) 0.73 406
2021-10-01 $269,900 (-12.9%) $405,718 (-1.8%) 0.72 377
2021-11-01 $281,950 (-6.0%) $407,596 (-2.4%) 0.75 356
2021-12-01 $277,400 (-5.8%) $417,883 (1.4%) 0.75 311
2022-01-01 $296,700 (4.1%) $438,266 (3.9%) 0.80 253
2022-02-01 $294,350 (13.2%) $427,885 (3.2%) 0.77 233
2022-03-01 $311,175 (17.7%) $432,407 (4.2%) 0.78 254
2022-04-01 $300,000 (13.3%) $450,281 (8.1%) 0.72 249
2022-05-01 $317,450 (19.8%) $486,863 (12.4%) 0.73 336
2022-06-01 $326,500 (21.9%) $483,176 (12.8%) 0.73 384
2022-07-01 $339,900 (23.6%) $477,571 (16.2%) 0.77 465
2022-08-01 $346,145 (27.9%) $478,147 (22.0%) 0.80 505
2022-09-01 $339,675 (24.7%) $482,555 (20.1%) 0.79 503
2022-10-01 $339,900 (25.9%) $477,720 (17.8%) 0.80 520
2022-11-01 $340,773 (20.9%) $466,358 (14.4%) 0.82 573
2022-12-01 $329,900 (18.9%) $464,150 (11.1%) 0.81 528
2023-01-01 $343,395 (15.7%) $475,266 (8.4%) 0.85 483
2023-02-01 $349,900 (18.9%) $480,283 (12.3%) 0.84 438
2023-03-01 $349,450 (12.3%) $486,667 (12.6%) 0.82 440
2023-04-01 $369,900 (23.3%) $509,681 (13.2%) 0.86 449
2023-05-01 $376,252 (18.5%) $523,504 (7.5%) 0.85 489
2023-06-01 $385,000 (17.9%) $524,757 (8.6%) 0.87 482
2023-07-01 $373,540 (9.9%) $514,800 (7.8%) 0.85 497
2023-08-01 $369,900 (6.9%) $504,256 (5.5%) 0.85 552
2023-09-01 $360,000 (6.0%) $506,685 (5.0%) 0.84 590
2023-10-01 $349,950 (3.0%) $505,553 (5.8%) 0.82 601
2023-11-01 $348,750 (2.3%) $492,779 (5.7%) 0.83 647
2023-12-01 $349,900 (6.1%) $498,989 (7.5%) 0.85 676
2024-01-01 $349,900 (1.9%) $482,637 (1.6%) 0.85 632
2024-02-01 $358,066 (2.3%) $496,559 (3.4%) 0.86 602
2024-03-01 $359,900 (3.0%) $505,788 (3.9%) 0.85 637
2024-04-01 $369,450 (-0.1%) $509,938 (0.1%) 0.86 674
Hickory's median listing price for 2024-04-01 was $369,450, a difference of $-450 (-0.1%) versus the prior year and $9,550 versus the prior month.

Hickory's median listing price comes in at 86% of the national average.

Hickory's average listing price for 2024-04-01 was $509,938, a difference of $257 (0.1%) versus the prior year and $4,150 versus the prior month.

For the 2024-04-01 period, Hickory had 674 MLS listings, a difference of 37 listings (6%) versus the prior month and 225 listings (50%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hickory (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 104 days 2,091 sqft
2018-02-01 86 days 2,076 sqft
2018-03-01 73 days 2,123 sqft
2018-04-01 63 days 2,151 sqft
2018-05-01 61 days 2,183 sqft
2018-06-01 64 days 2,104 sqft
2018-07-01 65 days 2,082 sqft
2018-08-01 67 days 2,100 sqft
2018-09-01 73 days 2,031 sqft
2018-10-01 81 days 2,082 sqft
2018-11-01 88 days 2,069 sqft
2018-12-01 95 days 2,052 sqft
2019-01-01 97 days 2,071 sqft
2019-02-01 92 days 2,012 sqft
2019-03-01 80 days 2,123 sqft
2019-04-01 72 days 2,207 sqft
2019-05-01 65 days 2,274 sqft
2019-06-01 63 days 2,332 sqft
2019-07-01 64 days 2,282 sqft
2019-08-01 62 days 2,249 sqft
2019-09-01 65 days 2,230 sqft
2019-10-01 66 days 2,183 sqft
2019-11-01 65 days 2,123 sqft
2019-12-01 74 days 2,114 sqft
2020-01-01 85 days 2,112 sqft
2020-02-01 73 days 2,079 sqft
2020-03-01 55 days 2,044 sqft
2020-04-01 54 days 2,038 sqft
2020-05-01 60 days 2,063 sqft
2020-06-01 60 days 2,102 sqft
2020-07-01 52 days 2,194 sqft
2020-08-01 44 days 2,187 sqft
2020-09-01 37 days 2,110 sqft
2020-10-01 43 days 2,202 sqft
2020-11-01 44 days 2,185 sqft
2020-12-01 50 days 2,080 sqft
2021-01-01 58 days 1,964 sqft
2021-02-01 48 days 1,926 sqft
2021-03-01 41 days 1,893 sqft
2021-04-01 36 days 1,918 sqft
2021-05-01 29 days 1,870 sqft
2021-06-01 29 days 1,819 sqft
2021-07-01 29 days 1,870 sqft
2021-08-01 33 days 1,903 sqft
2021-09-01 39 days 1,898 sqft
2021-10-01 37 days 1,828 sqft
2021-11-01 40 days 1,901 sqft
2021-12-01 43 days 1,792 sqft
2022-01-01 46 days 1,904 sqft
2022-02-01 34 days 1,875 sqft
2022-03-01 27 days 1,902 sqft
2022-04-01 26 days 1,806 sqft
2022-05-01 27 days 1,789 sqft
2022-06-01 34 days 1,899 sqft
2022-07-01 32 days 1,937 sqft
2022-08-01 41 days 1,970 sqft
2022-09-01 43 days 1,957 sqft
2022-10-01 48 days 1,970 sqft
2022-11-01 47 days 1,989 sqft
2022-12-01 57 days 1,920 sqft
2023-01-01 71 days 1,915 sqft
2023-02-01 69 days 1,887 sqft
2023-03-01 43 days 1,881 sqft
2023-04-01 44 days 1,996 sqft
2023-05-01 40 days 2,039 sqft
2023-06-01 44 days 2,034 sqft
2023-07-01 43 days 1,980 sqft
2023-08-01 41 days 1,976 sqft
2023-09-01 44 days 1,933 sqft
2023-10-01 46 days 1,816 sqft
2023-11-01 47 days 1,799 sqft
2023-12-01 52 days 1,884 sqft
2024-01-01 61 days 1,899 sqft
2024-02-01 60 days 1,898 sqft
2024-03-01 45 days 1,828 sqft
2024-04-01 43 days 1,890 sqft
Hickory's median listing age (time on market) for 2024-04-01 was 43 days. This is -3% shorter than the same period one year ago.

Hickory's median square footage for active listings during the 2024-04-01 period was 1,890 sqft. One year prior, the average listing was 1,996 sqft.