Hickory USDA Loans

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 59 lenders originated 464 USDA loans during 2021. The total origination value was $81,500,000, with an average USDA loan value of $175,647.

Hickory USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Hickory averaged 5.53% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

The average rate for the prior week (2022-05-13) was 5.22% and one month ago for the week of 2022-04-15, the average rate was 5.11%.

The average rate one year ago was 3.06%.

For refis of the same type during the week of 2022-05-20, the average rate was 4.99%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Hickory level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 107 3.23% $6,346
CERTAINTY HOME LOANS, LLC 63 3.29% $5,908
Alcova Mortgage LLC 34 3.15% $3,797
MOVEMENT MORTGAGE, LLC 32 2.81% $4,749
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 27 2.91% $5,385
CROSSCOUNTRY MORTGAGE, LLC 23 3.45% $4,522
AMERIFIRST FINANCIAL CORPORATION 17 3.13% $6,747
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 3.11% $6,360
HOMESTAR FINANCIAL CORPORATION 11 3.08% $3,698
GUARANTEED RATE, INC. 10 3.00% $5,386
PENNYMAC LOAN SERVICES, LLC 8 3.06% $3,991
PRIMELENDING, A PLAINSCAPITAL COMPANY 7 3.07% $5,106
FAMILY FIRST FUNDING LLC 7 3.25% $5,250
GUILD MORTGAGE COMPANY 6 3.02% $6,428
HOMESIDE FINANCIAL, LLC 6 2.85% $4,901
Citizens Bank 6 2.35% $5,404
Renasant Bank 4 3.06% $4,840
GoPrime Mortgage, Inc. 4 3.22% $5,178
LOANDEPOT.COM, LLC 4 3.38% $5,614
American Security Mortgage Corp. 4 2.53% $5,400
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.21% $6,139
Colten Mortgage, LLC 3 3.25% $4,244
INSPIRE HOME LOANS INC. 3 3.42% $5,338
Truist Bank 3 2.58% $5,142
Wells Fargo Bank 3 3.71% $2,953
CORNERSTONE HOME LENDING, INC. 3 3.08% $6,889
CIS Financial Services, Inc. 3 3.58% $6,683
CHURCHILL MORTGAGE CORPORATION 3 3.33% $5,320
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.25% $5,247
Allen Tate Mortgage Partners, LLC 2 2.50% $5,121
First-Citizens Bank & Trust Company 2 2.50% $4,564
Hometown Lenders, Inc. 2 3.56% $6,869
Magnolia Bank 2 2.75% $6,920
MID AMERICA MORTGAGE, INC. 2 4.00% $2,301
Northpointe Bank 2 2.69% $5,049
PLAZA HOME MORTGAGE, INC. 2 2.94% $5,819
SIGNATURE MORTGAGE CORPORATION 2 2.81% $5,551
BAYSHORE MORTGAGE FUNDING, LLC 1 4.13% $5,738
United Bank 1 2.75% $4,529
Carrington Mortgage Services, LLC 1 2.88% $3,827
Nations Lending Corporation 1 3.25% $2,412
Uwharrie Bank 1 2.75% $3,316
OCEANSIDE MORTGAGE COMPANY 1 2.88% $1,329
Paramount Residential Mortgage Group, Inc. 1 3.00% $5,513
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.25% $4,420
Alpha Mortgage Corporation 1 3.13% $4,940
PNC Bank 1 2.75% $2,913
CALIBER HOME LOANS, INC. 1 3.25% $5,278
Blue Ridge Bank 1 3.50% $4,807
Bell Bank 1 2.88% $6,291
RESIDENTIAL MORTGAGE SERVICES, INC. 1 3.00% $5,333
SeaTrust Mortgage Company 1 2.75% $5,238
Wolfe Financial, Inc 1 3.25% $6,809
FLAT BRANCH MORTGAGE, INC. 1 3.63% $5,759
SUCCESS MORTGAGE PARTNERS, INC. 1 3.00% $5,964
First National Bank of Pennsylvania 1 2.75% $4,985
INTERCOASTAL MORTGAGE COMPANY 1 2.50% $6,614
LENDUS, LLC 1 2.88% $4,491
ENVOY MORTGAGE, LTD 1 2.75% $5,008

The top Hickory USDA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 107 USDA loans originated. Their average total fees are $6,346, which is $438 higher than the next largest lender, CERTAINTY HOME LOANS, LLC.

The lowest fee Hickory USDA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION ($3,698), Alcova Mortgage LLC ($3,797), CROSSCOUNTRY MORTGAGE, LLC ($4,522), MOVEMENT MORTGAGE, LLC ($4,749) and HIGHLANDS RESIDENTIAL MORTGAGE, LTD. ($5,385).

The lowest rate Hickory USDA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC (2.81%), HIGHLANDS RESIDENTIAL MORTGAGE, LTD. (2.91%), GUARANTEED RATE, INC. (3.00%), HOMESTAR FINANCIAL CORPORATION (3.08%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (3.11%).