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 5 lenders originated 6 USDA loans during 2023. The total origination value was $1,550,000, with an average USDA loan value of $258,333.
Hilton Head Island USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Hilton Head Island
averaged
6.53%
for the week of 2024-04-12, compared to the national average (all USDA variants) of
6.705% for the same period.
Hilton Head Island's average USDA mortgage closing costs are $5,543.
The average rate for the prior week (2024-04-05) was
6.45% and
one month ago for the week of 2024-03-08, the
average rate was 6.71%.
The average rate one year ago was 6.32%.
For refis of the same type during the week of 2024-04-12, the average rate
was 6.89%.
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| FIRST COMMUNITY MORTGAGE, INC. | 1 | 6.38% | $8,024 |
| HALLMARK HOME MORTGAGE, LLC | 1 | 5.75% | $8,267 |
| Magnolia Bank | 1 | 6.25% | $6,522 |
| MID AMERICA MORTGAGE, INC. | 1 | 5.88% | $4,317 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 5.25% | $11,314 |
The top Hilton Head Island USDA lender as defined by loan originations is FIRST COMMUNITY MORTGAGE, INC., with
1 USDA loans originated. Their average total fees are
$8,024, which is $244
lower than the next largest lender,
HALLMARK HOME MORTGAGE, LLC.
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%) | 1.42 | 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%) | 1.23 | 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%) | $1,047,448 (5.4%) | 1.50 | 898 |
| 2023-05-01 | $648,875 (-0.2%) | $1,039,516 (-3.6%) | 1.47 | 889 |
| 2023-06-01 | $622,450 (-3.9%) | $991,419 (-7.6%) | 1.40 | 947 |
| 2023-07-01 | $620,000 (-0.8%) | $1,008,721 (-2.2%) | 1.41 | 1,015 |
| 2023-08-01 | $601,700 (-4.4%) | $1,000,390 (-1.5%) | 1.38 | 1,046 |
| 2023-09-01 | $599,900 (-6.6%) | $980,978 (-4.5%) | 1.40 | 1,132 |
| 2023-10-01 | $599,000 (-5.3%) | $1,009,495 (0.2%) | 1.41 | 1,253 |
| 2023-11-01 | $589,000 (-6.1%) | $991,953 (-1.6%) | 1.40 | 1,363 |
| 2023-12-01 | $571,908 (-9.0%) | $980,797 (-2.5%) | 1.39 | 1,331 |
| 2024-01-01 | $582,500 (-6.7%) | $1,010,451 (1.4%) | 1.42 | 1,302 |
| 2024-02-01 | $577,250 (-9.1%) | $1,029,725 (2.8%) | 1.39 | 1,307 |
| 2024-03-01 | $585,000 (-9.9%) | $1,035,205 (-1.0%) | 1.38 | 1,425 |
Hilton Head Island's median listing price comes in at 138% of the national average.
Hilton Head Island's average listing price for 2024-03-01 was $1,035,205, a difference of $-10,768 (-1.0%) versus the prior year and $5,480 versus the prior month.
For the 2024-03-01 period, Hilton Head Island had 1,425 MLS listings, a difference of 118 listings (9%) versus the prior month and 540 listings (61%) 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 | 2,151 sqft |
| 2018-02-01 | 102 days | 2,174 sqft |
| 2018-03-01 | 78 days | 2,161 sqft |
| 2018-04-01 | 68 days | 2,146 sqft |
| 2018-05-01 | 74 days | 2,142 sqft |
| 2018-06-01 | 78 days | 2,126 sqft |
| 2018-07-01 | 85 days | 2,116 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 | 2,176 sqft |
| 2019-09-01 | 112 days | 2,175 sqft |
| 2019-10-01 | 107 days | 2,185 sqft |
| 2019-11-01 | 98 days | 2,200 sqft |
| 2019-12-01 | 97 days | 2,187 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 | 2,131 sqft |
| 2020-06-01 | 98 days | 2,144 sqft |
| 2020-07-01 | 94 days | 2,189 sqft |
| 2020-08-01 | 71 days | 2,186 sqft |
| 2020-09-01 | 67 days | 2,142 sqft |
| 2020-10-01 | 65 days | 2,135 sqft |
| 2020-11-01 | 66 days | 2,122 sqft |
| 2020-12-01 | 74 days | 2,135 sqft |
| 2021-01-01 | 79 days | 2,118 sqft |
| 2021-02-01 | 67 days | 2,038 sqft |
| 2021-03-01 | 52 days | 2,092 sqft |
| 2021-04-01 | 44 days | 2,067 sqft |
| 2021-05-01 | 43 days | 2,032 sqft |
| 2021-06-01 | 38 days | 1,960 sqft |
| 2021-07-01 | 46 days | 1,985 sqft |
| 2021-08-01 | 50 days | 2,026 sqft |
| 2021-09-01 | 49 days | 1,973 sqft |
| 2021-10-01 | 57 days | 2,026 sqft |
| 2021-11-01 | 59 days | 1,966 sqft |
| 2021-12-01 | 64 days | 1,983 sqft |
| 2022-01-01 | 74 days | 1,989 sqft |
| 2022-02-01 | 46 days | 2,020 sqft |
| 2022-03-01 | 33 days | 2,083 sqft |
| 2022-04-01 | 31 days | 2,094 sqft |
| 2022-05-01 | 32 days | 2,169 sqft |
| 2022-06-01 | 33 days | 2,121 sqft |
| 2022-07-01 | 41 days | 2,064 sqft |
| 2022-08-01 | 50 days | 2,093 sqft |
| 2022-09-01 | 56 days | 2,097 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 | 2,134 sqft |
| 2023-06-01 | 52 days | 2,091 sqft |
| 2023-07-01 | 52 days | 2,031 sqft |
| 2023-08-01 | 53 days | 1,987 sqft |
| 2023-09-01 | 56 days | 1,980 sqft |
| 2023-10-01 | 53 days | 1,993 sqft |
| 2023-11-01 | 56 days | 1,982 sqft |
| 2023-12-01 | 66 days | 1,980 sqft |
| 2024-01-01 | 79 days | 2,001 sqft |
| 2024-02-01 | 70 days | 1,967 sqft |
| 2024-03-01 | 51 days | 1,997 sqft |
Hilton Head Island's median square footage for active listings during the 2024-03-01 period was 1,997 sqft. One year prior, the average listing was 2,227 sqft.