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 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.