Myrtle Beach USDA Loans

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

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 5.47% 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 5.3% and one month ago for the week of 2022-04-08, the average rate was 5.07%.

The average rate one year ago was 3.38%.

For refis of the same type during the week of 2022-05-13, the average rate was 4.97%.

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 Bank 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
Myrtle Beach's median listing price for 2022-04-01 was $399,000, a difference of $108,005 (37.1%) versus the prior year and $-900 versus the prior month.

Myrtle Beach's median listing price comes in at 94% of the national average.

Myrtle Beach's average listing price for 2022-04-01 was $528,811, a difference of $144,613 (37.6%) versus the prior year and $-814 versus the prior month.

For the 2022-04-01 period, Myrtle Beach had 1,593 MLS listings, a difference of 221 listings (16%) versus the prior month and -1,018 listings (-39%) 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
Myrtle Beach's median listing age (time on market) for 2022-04-01 was 32 days. This is -48% shorter than the same period one year ago.

Myrtle Beach's median square footage for active listings during the 2022-04-01 period was 1,739 sqft. One year prior, the average listing was 1,665 sqft.