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%.
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.
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%).
