Hilton Head Island USDA Loan Rates, Closing Costs & Stats

HILTON HEAD ISLAND-BLUFFTON, 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.

    Hilton Head Island's 41 lenders originated 83 USDA loans during 2021. The total origination value was $20,045,000, with an average USDA loan value of $241,506.

    Hilton Head Island USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Hilton Head Island averaged -0.01% for the week of 2022-11-25, compared to the national average (all USDA variants) of 0% for the same period.

    Hilton Head Island's average USDA mortgage closing costs are $5,411.

    The average rate for the prior week (2022-11-18) was 6.64% and one month ago for the week of 2022-10-21, the average rate was 6.85%.

    The average rate one year ago was 3.09%.

    For refis of the same type during the week of 2022-11-25, the average rate was -0.37%.

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

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    MOVEMENT MORTGAGE, LLC 14 2.88% $5,530
    EQUITY RESOURCES, INC. 5 2.75% $5,537
    Mortgage Network, Inc. 5 3.15% $5,991
    Gateway First Bank 4 2.81% $3,731
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 3.08% $7,151
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 2.94% $9,715
    AMERICAN FINANCIAL NETWORK, INC. 2 3.13% $10,652
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.81% $5,723
    FINANCE OF AMERICA MORTGAGE LLC 2 3.13% $5,607
    GUARANTY HOME MORTGAGE CORPORATION 2 2.69% $5,537
    GUILD MORTGAGE COMPANY 2 2.88% $6,955
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.06% $4,701
    SOUTHERN TRUST MORTGAGE, LLC 2 2.50% $6,738
    South State Bank 2 2.38% $3,709
    TOWNE MORTGAGE COMPANY 2 2.87% $5,340
    United Community Bank 2 2.75% $7,286
    UNITED WHOLESALE MORTGAGE, LLC 2 2.71% $8,638
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 2.88% $5,983
    ITHINK FINANCIAL Credit Union 1 2.38% $6,417
    Lakeview Community Capital, LLC 1 3.25% $5,295
    LOANDEPOT.COM, LLC 1 3.38% $6,924
    Magnolia Bank 1 2.75% $5,170
    MCLEAN MORTGAGE CORPORATION 1 2.25% $4,965
    MIDLAND MORTGAGE CORPORATION 1 3.25% $6,168
    CALIBER HOME LOANS, INC. 1 2.75% $7,206
    ANGEL OAK HOME LOANS LLC 1 2.88% $11,235
    MUTUAL OF OMAHA MORTGAGE, INC. 1 3.25% $7,111
    NTFN, INC. 1 3.25% $5,610
    OCEANSIDE MORTGAGE COMPANY 1 2.88% $1,187
    SUN WEST MORTGAGE COMPANY, INC. 1 2.50% $5,085
    Prosperity Home Mortgage, LLC 1 2.63% $6,149
    DHI MORTGAGE COMPANY, LTD. 1 2.50% $6,004
    Colten Mortgage, LLC 1 2.50% $4,198
    ABSOLUTE HOME MORTGAGE CORPORATION 1 2.75% $7,088
    Renasant Bank 1 3.13% $5,044
    Carrington Mortgage Services, LLC 1 2.25% $6,413
    GMFS LLC 1 3.00% $2,793
    GUARANTEED RATE, INC. 1 3.00% $6,278
    THRIVE MORTGAGE, LLC 1 2.75% $5,962
    Truist 1 2.63% $5,571
    Hometown Lenders, Inc. 1 2.63% $6,438

    The top Hilton Head Island USDA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 14 USDA loans originated. Their average total fees are $5,530, which is $7 lower than the next largest lender, EQUITY RESOURCES, INC..

    The lowest fee Hilton Head Island USDA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC ($5,530), .

    The lowest rate Hilton Head Island USDA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC (2.88%), .

    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%) 1.41 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%) $643,984 (6.5%) 1.39 2,926
    2019-04-01 $432,400 (2.5%) $659,087 (5.9%) 1.37 2,998
    2019-05-01 $439,450 (4.9%) $671,707 (7.1%) 1.37 2,994
    2019-06-01 $443,000 (5.6%) $673,711 (7.5%) 1.38 2,875
    2019-07-01 $435,000 (2.6%) $657,063 (4.9%) 1.36 2,864
    2019-08-01 $433,895 (1.8%) $657,881 (3.1%) 1.37 2,845
    2019-09-01 $432,239 (3.2%) $658,566 (5.2%) 1.38 2,787
    2019-10-01 $435,159 (2.2%) $662,975 (2.8%) 1.40 2,732
    2019-11-01 $435,000 (2.4%) $668,921 (3.9%) 1.43 2,689
    2019-12-01 $429,000 (0.9%) $663,193 (2.5%) 1.43 2,602
    2020-01-01 $425,000 (0.0%) $652,430 (1.6%) 1.42 2,499
    2020-02-01 $434,000 (2.1%) $661,282 (3.3%) 1.42 2,522
    2020-03-01 $435,000 (2.5%) $666,813 (3.5%) 1.36 2,589
    2020-04-01 $426,227 (-1.4%) $656,089 (-0.5%) 1.33 2,629
    2020-05-01 $425,000 (-3.3%) $663,332 (-1.3%) 1.29 2,563
    2020-06-01 $429,000 (-3.2%) $680,580 (1.0%) 1.26 2,249
    2020-07-01 $439,000 (0.9%) $696,408 (6.0%) 1.27 1,996
    2020-08-01 $429,990 (-0.9%) $707,288 (7.5%) 1.23 1,827
    2020-09-01 $415,000 (-4.0%) $718,435 (9.1%) 1.19 1,646
    2020-10-01 $399,999 (-8.1%) $721,485 (8.8%) 1.15 1,450
    2020-11-01 $408,059 (-6.2%) $746,081 (11.5%) 1.19 1,320
    2020-12-01 $414,500 (-3.4%) $765,812 (15.5%) 1.23 1,176
    2021-01-01 $439,900 (3.5%) $789,776 (21.1%) 1.31 982
    2021-02-01 $438,862 (1.1%) $808,896 (22.3%) 1.28 793
    2021-03-01 $454,725 (4.5%) $806,070 (20.9%) 1.29 701
    2021-04-01 $449,500 (5.5%) $834,806 (27.2%) 1.22 633
    2021-05-01 $469,745 (10.5%) $817,059 (23.2%) 1.24 595
    2021-06-01 $480,750 (12.1%) $825,230 (21.3%) 1.27 648
    2021-07-01 $499,000 (13.7%) $827,719 (18.9%) 1.31 695
    2021-08-01 $534,500 (24.3%) $836,454 (18.3%) 1.43 714
    2021-09-01 $508,000 (22.4%) $820,025 (14.1%) 1.35 730
    2021-10-01 $519,000 (29.8%) $852,673 (18.2%) 1.38 704
    2021-11-01 $517,500 (26.8%) $848,048 (13.7%) 1.38 606
    2021-12-01 $503,250 (21.4%) $867,673 (13.3%) 1.36 532
    2022-01-01 $499,378 (13.5%) $875,284 (10.8%) 1.35 428
    2022-02-01 $538,750 (22.8%) $909,010 (12.4%) 1.40 389
    2022-03-01 $575,750 (26.6%) $967,487 (20.0%) 1.44 379
    2022-04-01 $597,000 (32.8%) $989,221 (18.5%) 1.42 460
    2022-05-01 $648,404 (38.0%) $1,070,218 (31.0%) 1.48 613
    2022-06-01 $639,750 (33.1%) $1,066,856 (29.3%) 1.42 741
    2022-07-01 $625,000 (25.3%) $1,025,049 (23.8%) 1.41 885
    2022-08-01 $627,000 (17.3%) $1,010,831 (20.9%) 1.45 943
    2022-09-01 $639,975 (26.0%) $1,022,247 (24.7%) 1.50 944
    2022-10-01 $629,900 (21.4%) $1,003,027 (17.6%) 1.48 973
    Hilton Head Island's median listing price for 2022-10-01 was $629,900, a difference of $110,900 (21.4%) versus the prior year and $-10,075 versus the prior month.

    Hilton Head Island's median listing price comes in at 148% of the national average.

    Hilton Head Island's average listing price for 2022-10-01 was $1,003,027, a difference of $150,354 (17.6%) versus the prior year and $-19,220 versus the prior month.

    For the 2022-10-01 period, Hilton Head Island had 973 MLS listings, a difference of 29 listings (3%) versus the prior month and 269 listings (38%) 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
    2018-01-01 129 days 2,151 sqft
    2018-02-01 120 days 2,174 sqft
    2018-03-01 107 days 2,161 sqft
    2018-04-01 84 days 2,146 sqft
    2018-05-01 89 days 2,142 sqft
    2018-06-01 92 days 2,126 sqft
    2018-07-01 100 days 2,116 sqft
    2018-08-01 103 days 2,155 sqft
    2018-09-01 110 days 2,125 sqft
    2018-10-01 107 days 2,168 sqft
    2018-11-01 103 days 2,155 sqft
    2018-12-01 110 days 2,161 sqft
    2019-01-01 112 days 2,141 sqft
    2019-02-01 115 days 2,139 sqft
    2019-03-01 106 days 2,150 sqft
    2019-04-01 93 days 2,167 sqft
    2019-05-01 97 days 2,188 sqft
    2019-06-01 102 days 2,212 sqft
    2019-07-01 110 days 2,175 sqft
    2019-08-01 114 days 2,175 sqft
    2019-09-01 120 days 2,175 sqft
    2019-10-01 124 days 2,184 sqft
    2019-11-01 120 days 2,199 sqft
    2019-12-01 121 days 2,185 sqft
    2020-01-01 120 days 2,161 sqft
    2020-02-01 122 days 2,174 sqft
    2020-03-01 116 days 2,200 sqft
    2020-04-01 104 days 2,160 sqft
    2020-05-01 107 days 2,128 sqft
    2020-06-01 117 days 2,143 sqft
    2020-07-01 121 days 2,189 sqft
    2020-08-01 94 days 2,186 sqft
    2020-09-01 82 days 2,138 sqft
    2020-10-01 78 days 2,135 sqft
    2020-11-01 79 days 2,121 sqft
    2020-12-01 89 days 2,134 sqft
    2021-01-01 91 days 2,118 sqft
    2021-02-01 86 days 2,035 sqft
    2021-03-01 65 days 2,092 sqft
    2021-04-01 54 days 2,065 sqft
    2021-05-01 50 days 2,027 sqft
    2021-06-01 42 days 1,958 sqft
    2021-07-01 50 days 1,983 sqft
    2021-08-01 54 days 2,021 sqft
    2021-09-01 52 days 1,972 sqft
    2021-10-01 59 days 2,025 sqft
    2021-11-01 63 days 1,963 sqft
    2021-12-01 68 days 1,982 sqft
    2022-01-01 80 days 1,987 sqft
    2022-02-01 54 days 2,020 sqft
    2022-03-01 34 days 2,082 sqft
    2022-04-01 32 days 2,094 sqft
    2022-05-01 33 days 2,168 sqft
    2022-06-01 34 days 2,116 sqft
    2022-07-01 43 days 2,062 sqft
    2022-08-01 51 days 2,094 sqft
    2022-09-01 56 days 2,096 sqft
    2022-10-01 61 days 2,147 sqft
    Hilton Head Island's median listing age (time on market) for 2022-10-01 was 61 days. This is 3% longer than the same period one year ago.

    Hilton Head Island's median square footage for active listings during the 2022-10-01 period was 2,147 sqft. One year prior, the average listing was 2,025 sqft.