Myrtle Beach USDA Loans

MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC

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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.

    Myrtle Beach's 78 lenders originated 355 USDA loans during 2021. The total origination value was $76,945,000, with an average USDA loan value of $216,746.

    Myrtle Beach USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Myrtle Beach averaged 6.36% for the week of 2022-09-23, compared to the national average (all USDA variants) of 6.08% for the same period.

    The average rate for the prior week (2022-09-16) was 5.99% and one month ago for the week of 2022-08-19, the average rate was 5.27%.

    The average rate one year ago was 2.9%.

    For refis of the same type during the week of 2022-09-23, the average rate was 5.86%.

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

    Myrtle Beach 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 Myrtle Beach level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    DHI MORTGAGE COMPANY, LTD. 31 2.64% $4,759
    Alpha Mortgage Corporation 24 2.90% $5,798
    MOVEMENT MORTGAGE, LLC 22 3.03% $5,094
    GUILD MORTGAGE COMPANY 22 3.09% $6,791
    Flagstar Bank, FSB 18 2.62% $6,371
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 16 3.38% $6,498
    Blue Ridge Bank 12 2.83% $6,933
    VANDERBILT MORTGAGE AND FINANCE, INC. 12 2.91% $6,054
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 11 2.76% $5,494
    ANGEL OAK HOME LOANS LLC 9 2.92% $5,878
    GUARANTEED RATE, INC. 8 2.66% $6,223
    CALIBER HOME LOANS, INC. 8 2.53% $5,153
    RAPID MORTGAGE COMPANY 6 3.04% $7,393
    US MORTGAGE CORPORATION 6 2.81% $5,912
    UNION HOME MORTGAGE CORP. 6 3.06% $5,713
    CORNERSTONE HOME LENDING, INC. 6 2.98% $5,348
    Towne Bank 6 2.75% $5,122
    T2 FINANCIAL LLC 6 3.08% $6,028
    Gateway First Bank 6 2.96% $3,186
    HOMESTEAD FUNDING CORP. 6 2.88% $3,110
    American Security Mortgage Corp. 5 2.48% $5,246
    PENNYMAC LOAN SERVICES, LLC 5 2.90% $5,295
    SeaTrust Mortgage Company 5 2.93% $5,788
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 3.09% $5,571
    RESOURCE FINANCIAL SERVICES, INC. 4 2.84% $5,637
    RESIDENTIAL MORTGAGE SERVICES, INC. 4 2.66% $5,287
    ON Q FINANCIAL, INC. 4 2.75% $5,999
    Colten Mortgage, LLC 4 3.16% $5,078
    GUARANTY HOME MORTGAGE CORPORATION 3 3.17% $5,633
    Magnolia Bank 3 2.63% $5,580
    South State Bank 3 2.58% $4,485
    EAGLE HOME MORTGAGE, LLC 3 3.25% $7,364
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 3.00% $5,574
    Truist 3 2.75% $6,071
    Wells Fargo Bank 2 2.56% $4,522
    Ameris Bank 2 3.00% $5,816
    CMG MORTGAGE, INC. 2 2.75% $5,228
    EQUITY RESOURCES, INC. 2 2.69% $4,863
    LEADERONE FINANCIAL CORPORATION 2 2.75% $5,854
    North State Bank 2 2.50% $5,802
    SIGNATURE MORTGAGE CORPORATION 2 3.13% $5,856
    STEARNS LENDING, LLC 2 2.94% $5,424
    TIDEWATER MORTGAGE SERVICES, INC. 2 2.69% $6,241
    TOTAL MORTGAGE SERVICES, LLC 2 2.63% $7,283
    TOWNE MORTGAGE COMPANY 2 2.75% $5,003
    UNITED WHOLESALE MORTGAGE, LLC 2 2.93% $5,582
    JET HOMELOANS, LLC 1 3.13% $7,063
    OVM FINANCIAL, INC. 1 3.00% $6,693
    Paramount Residential Mortgage Group, Inc. 1 2.75% $7,346
    INTERCOASTAL MORTGAGE COMPANY 1 2.88% $6,198
    PLANET HOME LENDING, LLC 1 3.75% $3,865
    Platinum Home Mortgage Corporation 1 3.00% $6,090
    PLAZA HOME MORTGAGE, INC. 1 2.49% $5,417
    PULTE MORTGAGE LLC 1 3.50% $2,879
    Hometown Lenders, Inc. 1 2.75% $5,738
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.75% $4,460
    GENEVA FINANCIAL, LLC 1 2.75% $6,591
    First-Citizens Bank & Trust Company 1 3.25% $6,727
    C & F Mortgage Corporation 1 3.13% $5,585
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 3.63% $2,272
    FINANCE OF AMERICA MORTGAGE LLC 1 3.25% $5,911
    SOUTHWEST FUNDING, LP 1 3.63% $9,682
    Atlantic Coast Mortgage, LLC 1 3.50% $4,578
    SUCCESS MORTGAGE PARTNERS, INC. 1 2.88% $4,162
    SUN WEST MORTGAGE COMPANY, INC. 1 2.50% $6,515
    CRESCENT MORTGAGE COMPANY 1 3.00% $5,380
    THE MORTGAGE FIRM, INC. 1 2.75% $5,283
    U.S. Bank 1 3.13% $5,447
    Carrington Mortgage Services, LLC 1 2.75% $6,390
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 3.00% $5,483
    LAND HOME FINANCIAL SERVICES, INC. 1 3.00% $5,473
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.75% $9,403
    LOANDEPOT.COM, LLC 1 2.88% $9,250
    LAKEVIEW LOAN SERVICING, LLC 1 2.88% $2,796
    MICHIGAN MUTUAL, INC. 1 2.63% $5,433
    KELLER MORTGAGE, LLC 1 3.13% $3,375
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 3.25% $6,414
    NP, Inc. 1 2.75% $6,009

    The top Myrtle Beach USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 31 USDA loans originated. Their average total fees are $4,759, which is $1,039 lower than the next largest lender, Alpha Mortgage Corporation.

    The lowest fee Myrtle Beach USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($4,759), MOVEMENT MORTGAGE, LLC ($5,094), HIGHLANDS RESIDENTIAL MORTGAGE, LTD. ($5,494), Alpha Mortgage Corporation ($5,798) and VANDERBILT MORTGAGE AND FINANCE, INC. ($6,054).

    The lowest rate Myrtle Beach USDA lenders (with over 10 loans originated) are Flagstar Bank, FSB (2.62%), DHI MORTGAGE COMPANY, LTD. (2.64%), HIGHLANDS RESIDENTIAL MORTGAGE, LTD. (2.76%), Blue Ridge Bank (2.83%) and Alpha Mortgage Corporation (2.90%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Myrtle Beach (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 $249,067 (8.3%) $325,760 (8.8%) 0.92 6,916
    2018-02-01 $249,450 (6.4%) $323,559 (7.2%) 0.90 7,101
    2018-03-01 $249,900 (5.3%) $325,985 (6.1%) 0.86 7,326
    2018-04-01 $250,000 (4.2%) $332,969 (5.2%) 0.84 7,343
    2018-05-01 $255,900 (6.3%) $336,200 (5.1%) 0.85 7,278
    2018-06-01 $259,999 (6.6%) $340,723 (5.6%) 0.87 7,195
    2018-07-01 $264,700 (6.3%) $341,718 (4.6%) 0.88 7,031
    2018-08-01 $259,900 (4.2%) $338,497 (3.2%) 0.87 7,075
    2018-09-01 $259,900 (4.0%) $338,196 (2.8%) 0.87 7,017
    2018-10-01 $250,755 (0.4%) $330,672 (0.7%) 0.84 7,028
    2018-11-01 $254,450 (2.2%) $329,135 (0.0%) 0.85 7,018
    2018-12-01 $254,900 (2.4%) $326,874 (-0.5%) 0.87 6,935
    2019-01-01 $254,995 (2.4%) $325,631 (0.0%) 0.88 6,828
    2019-02-01 $256,408 (2.8%) $328,439 (1.5%) 0.86 7,099
    2019-03-01 $258,129 (3.3%) $332,081 (1.9%) 0.84 7,337
    2019-04-01 $262,400 (5.0%) $337,188 (1.3%) 0.83 7,555
    2019-05-01 $265,928 (3.9%) $342,518 (1.9%) 0.82 7,535
    2019-06-01 $265,000 (1.9%) $342,684 (0.6%) 0.82 7,504
    2019-07-01 $263,875 (-0.3%) $341,237 (-0.1%) 0.82 7,495
    2019-08-01 $266,243 (2.4%) $343,840 (1.6%) 0.84 7,295
    2019-09-01 $269,300 (3.6%) $345,575 (2.2%) 0.86 7,133
    2019-10-01 $268,000 (6.9%) $343,157 (3.8%) 0.85 7,270
    2019-11-01 $265,000 (4.2%) $342,474 (4.1%) 0.86 7,223
    2019-12-01 $265,000 (4.0%) $343,142 (5.0%) 0.88 6,993
    2020-01-01 $259,900 (1.9%) $339,027 (4.1%) 0.87 6,786
    2020-02-01 $262,900 (2.5%) $339,849 (3.5%) 0.85 6,842
    2020-03-01 $261,505 (1.3%) $341,662 (2.9%) 0.82 7,001
    2020-04-01 $259,900 (-1.0%) $337,509 (0.1%) 0.81 7,318
    2020-05-01 $262,560 (-1.3%) $341,331 (-0.4%) 0.80 7,046
    2020-06-01 $264,900 (0.0%) $342,748 (0.0%) 0.77 6,316
    2020-07-01 $261,200 (-1.0%) $343,444 (0.7%) 0.75 5,934
    2020-08-01 $259,900 (-2.4%) $341,272 (-0.8%) 0.74 5,684
    2020-09-01 $259,900 (-3.5%) $344,550 (-0.3%) 0.74 5,334
    2020-10-01 $260,900 (-2.7%) $348,509 (1.6%) 0.75 5,093
    2020-11-01 $263,500 (-0.6%) $348,086 (1.6%) 0.75 4,818
    2020-12-01 $259,900 (-1.9%) $342,888 (-0.1%) 0.76 4,723
    2021-01-01 $259,900 (0.0%) $340,193 (0.3%) 0.76 4,308
    2021-02-01 $262,120 (-0.3%) $344,690 (1.4%) 0.75 3,699
    2021-03-01 $273,285 (4.5%) $362,506 (6.1%) 0.77 3,123
    2021-04-01 $290,995 (12.0%) $384,198 (13.8%) 0.78 2,611
    2021-05-01 $319,500 (21.7%) $420,725 (23.3%) 0.84 2,042
    2021-06-01 $337,250 (27.3%) $443,836 (29.5%) 0.88 1,938
    2021-07-01 $359,008 (37.5%) $459,764 (33.9%) 0.93 2,015
    2021-08-01 $364,020 (40.1%) $464,709 (36.2%) 0.96 2,294
    2021-09-01 $359,950 (38.5%) $460,648 (33.7%) 0.95 2,421
    2021-10-01 $369,000 (41.4%) $471,759 (35.4%) 0.97 2,435
    2021-11-01 $368,200 (39.7%) $471,170 (35.4%) 0.97 2,375
    2021-12-01 $371,687 (43.0%) $475,067 (38.6%) 0.99 2,074
    2022-01-01 $375,500 (44.5%) $480,860 (41.4%) 1.00 1,829
    2022-02-01 $395,165 (50.8%) $517,048 (50.0%) 1.01 1,384
    2022-03-01 $399,900 (46.3%) $529,625 (46.1%) 0.99 1,372
    2022-04-01 $399,000 (37.1%) $528,811 (37.6%) 0.94 1,593
    2022-05-01 $389,945 (22.1%) $521,564 (24.0%) 0.87 2,177
    2022-06-01 $389,900 (15.6%) $518,443 (16.8%) 0.87 2,742
    2022-07-01 $385,000 (7.2%) $506,860 (10.2%) 0.86 3,400
    2022-08-01 $384,950 (5.8%) $496,489 (6.8%) 0.88 3,707
    Myrtle Beach's median listing price for 2022-08-01 was $384,950, a difference of $20,930 (5.8%) versus the prior year and $-50 versus the prior month.

    Myrtle Beach's median listing price comes in at 88% of the national average.

    Myrtle Beach's average listing price for 2022-08-01 was $496,489, a difference of $31,780 (6.8%) versus the prior year and $-10,371 versus the prior month.

    For the 2022-08-01 period, Myrtle Beach had 3,707 MLS listings, a difference of 307 listings (9%) versus the prior month and 1,413 listings (62%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Myrtle Beach (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 108 days 1,701 sqft
    2018-02-01 104 days 1,701 sqft
    2018-03-01 95 days 1,701 sqft
    2018-04-01 82 days 1,701 sqft
    2018-05-01 82 days 1,701 sqft
    2018-06-01 89 days 1,701 sqft
    2018-07-01 96 days 1,701 sqft
    2018-08-01 94 days 1,701 sqft
    2018-09-01 100 days 1,701 sqft
    2018-10-01 103 days 1,651 sqft
    2018-11-01 105 days 1,651 sqft
    2018-12-01 115 days 1,689 sqft
    2019-01-01 107 days 1,651 sqft
    2019-02-01 101 days 1,651 sqft
    2019-03-01 91 days 1,544 sqft
    2019-04-01 82 days 1,410 sqft
    2019-05-01 87 days 1,407 sqft
    2019-06-01 91 days 1,429 sqft
    2019-07-01 93 days 1,414 sqft
    2019-08-01 98 days 1,433 sqft
    2019-09-01 99 days 1,451 sqft
    2019-10-01 97 days 1,451 sqft
    2019-11-01 98 days 1,488 sqft
    2019-12-01 104 days 1,546 sqft
    2020-01-01 106 days 1,601 sqft
    2020-02-01 103 days 1,689 sqft
    2020-03-01 87 days 1,667 sqft
    2020-04-01 85 days 1,651 sqft
    2020-05-01 94 days 1,701 sqft
    2020-06-01 102 days 1,748 sqft
    2020-07-01 102 days 1,704 sqft
    2020-08-01 84 days 1,667 sqft
    2020-09-01 79 days 1,657 sqft
    2020-10-01 80 days 1,654 sqft
    2020-11-01 79 days 1,652 sqft
    2020-12-01 80 days 1,631 sqft
    2021-01-01 87 days 1,618 sqft
    2021-02-01 84 days 1,618 sqft
    2021-03-01 66 days 1,623 sqft
    2021-04-01 62 days 1,665 sqft
    2021-05-01 55 days 1,700 sqft
    2021-06-01 46 days 1,704 sqft
    2021-07-01 42 days 1,738 sqft
    2021-08-01 37 days 1,762 sqft
    2021-09-01 41 days 1,773 sqft
    2021-10-01 45 days 1,850 sqft
    2021-11-01 47 days 1,822 sqft
    2021-12-01 57 days 1,824 sqft
    2022-01-01 65 days 1,836 sqft
    2022-02-01 56 days 1,830 sqft
    2022-03-01 41 days 1,813 sqft
    2022-04-01 32 days 1,739 sqft
    2022-05-01 29 days 1,715 sqft
    2022-06-01 34 days 1,703 sqft
    2022-07-01 39 days 1,683 sqft
    2022-08-01 47 days 1,682 sqft
    Myrtle Beach's median listing age (time on market) for 2022-08-01 was 47 days. This is 27% longer than the same period one year ago.

    Myrtle Beach's median square footage for active listings during the 2022-08-01 period was 1,682 sqft. One year prior, the average listing was 1,762 sqft.