Hilton Head Island USDA Loans

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 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.