Hilton Head Island USDA Loans

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 5.39% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

    The average rate for the prior week (2022-05-06) was 5.52% and one month ago for the week of 2022-04-08, the average rate was 4.88%.

    The average rate one year ago was 3.19%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.02%.

    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 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. Total Fees
    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 Bank 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 (0.0%) $581,691 (1.0%) 1.47 2,755
    2018-02-01 $399,000 (0.0%) $584,599 (2.1%) 1.44 2,879
    2018-03-01 $405,000 (1.5%) $598,595 (4.4%) 1.40 2,959
    2018-04-01 $414,500 (3.9%) $616,723 (5.6%) 1.39 3,091
    2018-05-01 $415,000 (3.8%) $621,190 (5.4%) 1.38 3,099
    2018-06-01 $415,000 (3.2%) $620,233 (3.5%) 1.38 3,083
    2018-07-01 $419,000 (4.8%) $622,850 (3.7%) 1.40 3,074
    2018-08-01 $422,000 (5.5%) $631,946 (6.3%) 1.41 2,917
    2018-09-01 $415,000 (1.5%) $618,357 (4.2%) 1.39 3,084
    2018-10-01 $422,250 (4.4%) $632,463 (7.7%) 1.41 3,086
    2018-11-01 $419,022 (5.0%) $630,851 (8.8%) 1.40 3,108
    2018-12-01 $420,000 (5.3%) $632,971 (9.4%) 1.44 3,011
    2019-01-01 $417,000 (4.5%) $626,067 (7.6%) 1.44 2,989
    2019-02-01 $418,000 (4.8%) $624,592 (6.8%) 1.40 3,018
    2019-03-01 $419,286 (3.5%) $633,436 (5.8%) 1.37 3,103
    2019-04-01 $425,000 (2.5%) $648,896 (5.2%) 1.34 3,185
    2019-05-01 $433,063 (4.4%) $661,441 (6.5%) 1.33 3,180
    2019-06-01 $439,000 (5.8%) $666,534 (7.5%) 1.35 3,052
    2019-07-01 $427,000 (1.9%) $646,601 (3.8%) 1.33 3,047
    2019-08-01 $425,000 (0.7%) $647,501 (2.5%) 1.34 2,992
    2019-09-01 $424,500 (2.3%) $649,125 (5.0%) 1.35 2,918
    2019-10-01 $430,500 (2.0%) $656,575 (3.8%) 1.37 2,915
    2019-11-01 $429,900 (2.6%) $665,617 (5.5%) 1.39 2,841
    2019-12-01 $425,000 (1.2%) $654,211 (3.4%) 1.42 2,747
    2020-01-01 $422,450 (1.3%) $644,956 (3.0%) 1.41 2,649
    2020-02-01 $429,900 (2.9%) $656,927 (5.2%) 1.39 2,653
    2020-03-01 $429,900 (2.5%) $660,691 (4.3%) 1.34 2,757
    2020-04-01 $422,500 (-0.6%) $651,321 (0.4%) 1.32 2,803
    2020-05-01 $420,000 (-3.0%) $650,764 (-1.6%) 1.27 2,711
    2020-06-01 $424,325 (-3.3%) $667,881 (0.2%) 1.24 2,393
    2020-07-01 $431,950 (1.2%) $690,709 (6.8%) 1.24 2,125
    2020-08-01 $425,000 (0.0%) $704,857 (8.9%) 1.21 1,939
    2020-09-01 $403,850 (-4.9%) $708,808 (9.2%) 1.15 1,755
    2020-10-01 $399,900 (-7.1%) $725,057 (10.4%) 1.14 1,541
    2020-11-01 $403,593 (-6.1%) $753,286 (13.2%) 1.16 1,398
    2020-12-01 $415,750 (-2.2%) $769,566 (17.6%) 1.22 1,262
    2021-01-01 $435,000 (3.0%) $789,228 (22.4%) 1.28 1,050
    2021-02-01 $437,000 (1.7%) $815,442 (24.1%) 1.26 851
    2021-03-01 $458,948 (6.8%) $814,924 (23.3%) 1.29 732
    2021-04-01 $447,000 (5.8%) $803,608 (23.4%) 1.20 662
    2021-05-01 $462,500 (10.1%) $786,924 (20.9%) 1.22 630
    2021-06-01 $477,000 (12.4%) $804,575 (20.5%) 1.24 693
    2021-07-01 $496,445 (14.9%) $815,714 (18.1%) 1.29 733
    2021-08-01 $517,500 (21.8%) $822,391 (16.7%) 1.36 761
    2021-09-01 $499,450 (23.7%) $810,387 (14.3%) 1.31 782
    2021-10-01 $523,000 (30.8%) $851,356 (17.4%) 1.38 750
    2021-11-01 $524,000 (29.8%) $844,972 (12.2%) 1.38 659
    2021-12-01 $505,000 (21.5%) $856,856 (11.3%) 1.35 582
    2022-01-01 $500,000 (14.9%) $874,590 (10.8%) 1.33 464
    2022-02-01 $542,000 (24.0%) $897,115 (10.0%) 1.38 423
    2022-03-01 $552,000 (20.3%) $936,118 (14.9%) 1.36 403
    2022-04-01 $589,900 (32.0%) $976,009 (21.5%) 1.39 495
    Hilton Head Island's median listing price for 2022-04-01 was $589,900, a difference of $142,900 (32.0%) versus the prior year and $37,900 versus the prior month.

    Hilton Head Island's median listing price comes in at 139% of the national average.

    Hilton Head Island's average listing price for 2022-04-01 was $976,009, a difference of $172,401 (21.5%) versus the prior year and $39,891 versus the prior month.

    For the 2022-04-01 period, Hilton Head Island had 495 MLS listings, a difference of 92 listings (23%) versus the prior month and -167 listings (-25%) 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
    2018-01-01 125 days 2,156 sqft
    2018-02-01 120 days 2,176 sqft
    2018-03-01 107 days 2,164 sqft
    2018-04-01 85 days 2,150 sqft
    2018-05-01 90 days 2,150 sqft
    2018-06-01 92 days 2,128 sqft
    2018-07-01 100 days 2,115 sqft
    2018-08-01 102 days 2,153 sqft
    2018-09-01 108 days 2,120 sqft
    2018-10-01 104 days 2,166 sqft
    2018-11-01 100 days 2,154 sqft
    2018-12-01 105 days 2,158 sqft
    2019-01-01 108 days 2,131 sqft
    2019-02-01 112 days 2,133 sqft
    2019-03-01 104 days 2,151 sqft
    2019-04-01 87 days 2,169 sqft
    2019-05-01 92 days 2,203 sqft
    2019-06-01 95 days 2,225 sqft
    2019-07-01 108 days 2,179 sqft
    2019-08-01 113 days 2,171 sqft
    2019-09-01 118 days 2,168 sqft
    2019-10-01 114 days 2,188 sqft
    2019-11-01 112 days 2,200 sqft
    2019-12-01 116 days 2,187 sqft
    2020-01-01 118 days 2,163 sqft
    2020-02-01 119 days 2,200 sqft
    2020-03-01 106 days 2,209 sqft
    2020-04-01 97 days 2,175 sqft
    2020-05-01 105 days 2,134 sqft
    2020-06-01 109 days 2,150 sqft
    2020-07-01 111 days 2,200 sqft
    2020-08-01 81 days 2,200 sqft
    2020-09-01 72 days 2,160 sqft
    2020-10-01 71 days 2,171 sqft
    2020-11-01 69 days 2,132 sqft
    2020-12-01 73 days 2,158 sqft
    2021-01-01 80 days 2,120 sqft
    2021-02-01 68 days 2,061 sqft
    2021-03-01 51 days 2,105 sqft
    2021-04-01 47 days 2,046 sqft
    2021-05-01 44 days 2,010 sqft
    2021-06-01 39 days 1,964 sqft
    2021-07-01 44 days 1,975 sqft
    2021-08-01 47 days 2,010 sqft
    2021-09-01 49 days 1,974 sqft
    2021-10-01 51 days 2,040 sqft
    2021-11-01 53 days 1,981 sqft
    2021-12-01 55 days 1,991 sqft
    2022-01-01 62 days 1,998 sqft
    2022-02-01 44 days 2,016 sqft
    2022-03-01 36 days 2,110 sqft
    2022-04-01 34 days 2,115 sqft
    Hilton Head Island's median listing age (time on market) for 2022-04-01 was 34 days. This is -28% shorter than the same period one year ago.

    Hilton Head Island's median square footage for active listings during the 2022-04-01 period was 2,115 sqft. One year prior, the average listing was 2,046 sqft.