Hilton Head Island USDA Loan Rates, Closing Costs & Stats
HILTON HEAD ISLAND-BLUFFTON, 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.
Hilton Head Island's 16 lenders originated 26 USDA loans during 2022. The total origination value was $6,280,000, with an average USDA loan value of $241,538.
Hilton Head Island USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Hilton Head Island
averaged
-0.64%
for the week of 2023-06-02, compared to the national average (all USDA variants) of
0% for the same period.
Hilton Head Island's average USDA mortgage closing costs are $5,514.
The average rate for the prior week (2023-05-26) was
6.1% and
one month ago for the week of 2023-04-28, the
average rate was 5.68%.
The average rate one year ago was 4.64%.
For refis of the same type during the week of 2023-06-02, the average rate
was -1.72%.
Hilton Head Island 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 Hilton Head Island level.
| Name | # of Loans | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
|---|---|---|---|
| FINANCE OF AMERICA MORTGAGE LLC | 3 | 4.46% | $7,126 |
| GUARANTY HOME MORTGAGE CORPORATION | 2 | 3.19% | $5,840 |
| CALIBER HOME LOANS, INC. | 2 | 4.65% | $7,599 |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | 2 | 3.94% | $3,807 |
| MOVEMENT MORTGAGE, LLC | 2 | 4.00% | $3,308 |
| South State Bank | 2 | 3.63% | $6,916 |
| UNITED WHOLESALE MORTGAGE, LLC | 2 | 4.34% | $8,487 |
| LOANDEPOT.COM, LLC | 1 | 4.88% | $5,070 |
| Magnolia Bank | 1 | 5.13% | $5,832 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 3.25% | $10,240 |
| BANKSOUTH MORTGAGE COMPANY, LLC | 1 | 4.38% | $7,042 |
| Carrington Mortgage Services, LLC | 1 | 3.50% | $4,556 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 5.49% | $6,779 |
| Encompass Lending Group, LP | 1 | 4.50% | $22,489 |
| EQUITY RESOURCES, INC. | 1 | 5.13% | $6,500 |
| Ameris Bank | 1 | 3.13% | $6,274 |
The top Hilton Head Island USDA lender as defined by loan originations is FINANCE OF AMERICA MORTGAGE LLC, with
3 USDA loans originated. Their average total fees are
$7,126, which is $1,286
higher than the next largest lender,
GUARANTY HOME MORTGAGE CORPORATION.
The lowest fee Hilton Head Island USDA lenders (with over 10 loans originated) are
.
The lowest rate Hilton Head Island USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Hilton Head Island (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 | $399,000 (0.5%) | $582,890 (1.5%) | 1.48 | 2,619 |
| 2018-02-01 | $399,900 (0.2%) | $589,915 (2.6%) | 1.45 | 2,733 |
| 2018-03-01 | $413,433 (3.6%) | $604,551 (4.9%) | 1.45 | 2,799 |
| 2018-04-01 | $421,950 (5.8%) | $622,378 (6.4%) | 1.43 | 2,945 |
| 2018-05-01 | $419,000 (4.8%) | $627,059 (5.7%) | 1.40 | 2,956 |
| 2018-06-01 | $419,500 (2.6%) | $626,474 (3.7%) | 1.40 | 2,967 |
| 2018-07-01 | $424,019 (3.4%) | $626,343 (3.7%) | 1.42 | 2,927 |
| 2018-08-01 | $426,242 (4.1%) | $637,991 (6.7%) | 1.43 | 2,777 |
| 2018-09-01 | $419,000 (1.0%) | $625,990 (5.1%) | 1.41 | 2,908 |
| 2018-10-01 | $426,000 (3.0%) | $644,773 (9.0%) | 1.44 | 2,889 |
| 2018-11-01 | $425,000 (6.3%) | $643,945 (10.3%) | 1.44 | 2,918 |
| 2018-12-01 | $425,000 (6.5%) | $647,340 (11.1%) | 1.47 | 2,822 |
| 2019-01-01 | $425,000 (6.5%) | $642,125 (10.2%) | 1.47 | 2,805 |
| 2019-02-01 | $425,000 (6.3%) | $639,931 (8.5%) | 1.44 | 2,843 |
| 2019-03-01 | $424,243 (2.6%) | $643,930 (6.5%) | 1.39 | 2,925 |
| 2019-04-01 | $432,400 (2.5%) | $659,020 (5.9%) | 1.37 | 2,994 |
| 2019-05-01 | $439,450 (4.9%) | $671,827 (7.1%) | 1.37 | 2,989 |
| 2019-06-01 | $443,495 (5.7%) | $673,962 (7.6%) | 1.39 | 2,869 |
| 2019-07-01 | $435,000 (2.6%) | $657,348 (5.0%) | 1.36 | 2,858 |
| 2019-08-01 | $434,727 (2.0%) | $658,280 (3.2%) | 1.38 | 2,838 |
| 2019-09-01 | $434,318 (3.7%) | $659,134 (5.3%) | 1.39 | 2,780 |
| 2019-10-01 | $436,878 (2.6%) | $663,724 (2.9%) | 1.41 | 2,724 |
| 2019-11-01 | $435,000 (2.4%) | $669,793 (4.0%) | 1.43 | 2,681 |
| 2019-12-01 | $429,000 (0.9%) | $664,157 (2.6%) | 1.43 | 2,594 |
| 2020-01-01 | $425,000 (0.0%) | $653,388 (1.8%) | 1.42 | 2,491 |
| 2020-02-01 | $434,900 (2.3%) | $662,261 (3.5%) | 1.43 | 2,514 |
| 2020-03-01 | $435,000 (2.5%) | $667,773 (3.7%) | 1.36 | 2,581 |
| 2020-04-01 | $426,850 (-1.3%) | $656,980 (-0.3%) | 1.34 | 2,621 |
| 2020-05-01 | $425,000 (-3.3%) | $664,289 (-1.1%) | 1.29 | 2,555 |
| 2020-06-01 | $429,225 (-3.2%) | $681,711 (1.2%) | 1.26 | 2,241 |
| 2020-07-01 | $439,350 (1.0%) | $697,645 (6.1%) | 1.27 | 1,987 |
| 2020-08-01 | $434,000 (-0.2%) | $708,463 (7.6%) | 1.24 | 1,818 |
| 2020-09-01 | $415,875 (-4.3%) | $720,099 (9.3%) | 1.19 | 1,637 |
| 2020-10-01 | $400,000 (-8.4%) | $723,318 (9.0%) | 1.15 | 1,441 |
| 2020-11-01 | $412,000 (-5.3%) | $748,196 (11.7%) | 1.20 | 1,311 |
| 2020-12-01 | $415,125 (-3.2%) | $768,300 (15.7%) | 1.24 | 1,167 |
| 2021-01-01 | $440,949 (3.8%) | $792,938 (21.4%) | 1.32 | 973 |
| 2021-02-01 | $442,000 (1.6%) | $813,000 (22.8%) | 1.29 | 784 |
| 2021-03-01 | $455,000 (4.6%) | $809,143 (21.2%) | 1.29 | 692 |
| 2021-04-01 | $449,750 (5.4%) | $840,260 (27.9%) | 1.22 | 624 |
| 2021-05-01 | $473,500 (11.4%) | $821,439 (23.7%) | 1.26 | 586 |
| 2021-06-01 | $487,000 (13.5%) | $830,170 (21.8%) | 1.28 | 639 |
| 2021-07-01 | $499,000 (13.6%) | $832,961 (19.4%) | 1.32 | 686 |
| 2021-08-01 | $540,564 (24.6%) | $841,071 (18.7%) | 1.44 | 705 |
| 2021-09-01 | $512,500 (23.2%) | $824,698 (14.5%) | 1.37 | 721 |
| 2021-10-01 | $524,312 (31.1%) | $857,559 (18.6%) | 1.40 | 695 |
| 2021-11-01 | $524,700 (27.4%) | $853,248 (14.0%) | 1.40 | 597 |
| 2021-12-01 | $509,500 (22.7%) | $873,876 (13.7%) | 1.38 | 523 |
| 2022-01-01 | $499,900 (13.4%) | $882,812 (11.3%) | 1.35 | 419 |
| 2022-02-01 | $550,000 (24.4%) | $918,629 (13.0%) | 1.43 | 380 |
| 2022-03-01 | $579,950 (27.5%) | $977,672 (20.8%) | 1.45 | 370 |
| 2022-04-01 | $599,365 (33.3%) | $993,575 (18.3%) | 1.43 | 451 |
| 2022-05-01 | $650,000 (37.3%) | $1,078,437 (31.3%) | 1.49 | 604 |
| 2022-06-01 | $647,807 (33.0%) | $1,072,805 (29.2%) | 1.44 | 732 |
| 2022-07-01 | $625,000 (25.3%) | $1,030,953 (23.8%) | 1.41 | 876 |
| 2022-08-01 | $629,500 (16.5%) | $1,015,593 (20.8%) | 1.46 | 934 |
| 2022-09-01 | $642,450 (25.4%) | $1,027,206 (24.6%) | 1.50 | 935 |
| 2022-10-01 | $632,500 (20.6%) | $1,007,952 (17.5%) | 1.49 | 964 |
| 2022-11-01 | $627,408 (19.6%) | $1,008,415 (18.2%) | 1.51 | 1,047 |
| 2022-12-01 | $628,775 (23.4%) | $1,005,863 (15.1%) | 1.55 | 1,022 |
| 2023-01-01 | $624,450 (24.9%) | $996,950 (12.9%) | 1.55 | 961 |
| 2023-02-01 | $634,901 (15.4%) | $1,001,611 (9.0%) | 1.53 | 920 |
| 2023-03-01 | $649,375 (12.0%) | $1,045,973 (7.0%) | 1.53 | 885 |
| 2023-04-01 | $645,000 (7.6%) | $1,046,806 (5.4%) | 1.50 | 898 |
| 2023-05-01 | $648,875 (-0.2%) | $1,039,516 (-3.6%) | 1.47 | 889 |
Hilton Head Island's median listing price comes in at 147% of the national average.
Hilton Head Island's average listing price for 2023-05-01 was $1,039,516, a difference of $-38,921 (-3.6%) versus the prior year and $-7,290 versus the prior month.
For the 2023-05-01 period, Hilton Head Island had 889 MLS listings, a difference of -9 listings (-1%) versus the prior month and 285 listings (47%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Hilton Head Island (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 103 days | 2,150 sqft |
| 2018-02-01 | 102 days | 2,173 sqft |
| 2018-03-01 | 78 days | 2,157 sqft |
| 2018-04-01 | 68 days | 2,146 sqft |
| 2018-05-01 | 74 days | 2,142 sqft |
| 2018-06-01 | 78 days | 2,125 sqft |
| 2018-07-01 | 85 days | 2,115 sqft |
| 2018-08-01 | 89 days | 2,155 sqft |
| 2018-09-01 | 94 days | 2,125 sqft |
| 2018-10-01 | 92 days | 2,168 sqft |
| 2018-11-01 | 88 days | 2,155 sqft |
| 2018-12-01 | 93 days | 2,161 sqft |
| 2019-01-01 | 101 days | 2,141 sqft |
| 2019-02-01 | 103 days | 2,139 sqft |
| 2019-03-01 | 95 days | 2,150 sqft |
| 2019-04-01 | 85 days | 2,167 sqft |
| 2019-05-01 | 91 days | 2,188 sqft |
| 2019-06-01 | 94 days | 2,212 sqft |
| 2019-07-01 | 103 days | 2,175 sqft |
| 2019-08-01 | 106 days | 2,175 sqft |
| 2019-09-01 | 111 days | 2,175 sqft |
| 2019-10-01 | 106 days | 2,185 sqft |
| 2019-11-01 | 98 days | 2,200 sqft |
| 2019-12-01 | 97 days | 2,186 sqft |
| 2020-01-01 | 102 days | 2,161 sqft |
| 2020-02-01 | 104 days | 2,174 sqft |
| 2020-03-01 | 83 days | 2,201 sqft |
| 2020-04-01 | 81 days | 2,160 sqft |
| 2020-05-01 | 89 days | 2,130 sqft |
| 2020-06-01 | 98 days | 2,143 sqft |
| 2020-07-01 | 94 days | 2,189 sqft |
| 2020-08-01 | 71 days | 2,186 sqft |
| 2020-09-01 | 67 days | 2,140 sqft |
| 2020-10-01 | 65 days | 2,135 sqft |
| 2020-11-01 | 66 days | 2,121 sqft |
| 2020-12-01 | 74 days | 2,134 sqft |
| 2021-01-01 | 79 days | 2,118 sqft |
| 2021-02-01 | 67 days | 2,035 sqft |
| 2021-03-01 | 52 days | 2,089 sqft |
| 2021-04-01 | 44 days | 2,066 sqft |
| 2021-05-01 | 43 days | 2,027 sqft |
| 2021-06-01 | 38 days | 1,958 sqft |
| 2021-07-01 | 46 days | 1,983 sqft |
| 2021-08-01 | 50 days | 2,024 sqft |
| 2021-09-01 | 49 days | 1,972 sqft |
| 2021-10-01 | 57 days | 2,025 sqft |
| 2021-11-01 | 59 days | 1,965 sqft |
| 2021-12-01 | 64 days | 1,984 sqft |
| 2022-01-01 | 74 days | 1,989 sqft |
| 2022-02-01 | 46 days | 2,020 sqft |
| 2022-03-01 | 33 days | 2,082 sqft |
| 2022-04-01 | 31 days | 2,094 sqft |
| 2022-05-01 | 32 days | 2,169 sqft |
| 2022-06-01 | 33 days | 2,119 sqft |
| 2022-07-01 | 41 days | 2,064 sqft |
| 2022-08-01 | 50 days | 2,092 sqft |
| 2022-09-01 | 56 days | 2,096 sqft |
| 2022-10-01 | 60 days | 2,145 sqft |
| 2022-11-01 | 58 days | 2,120 sqft |
| 2022-12-01 | 65 days | 2,115 sqft |
| 2023-01-01 | 75 days | 2,118 sqft |
| 2023-02-01 | 72 days | 2,162 sqft |
| 2023-03-01 | 56 days | 2,227 sqft |
| 2023-04-01 | 52 days | 2,186 sqft |
| 2023-05-01 | 50 days | 2,135 sqft |
Hilton Head Island's median square footage for active listings during the 2023-05-01 period was 2,135 sqft. One year prior, the average listing was 2,169 sqft.