Myrtle Beach USDA Loan Rates, Closing Costs & Stats

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 35 lenders originated 63 USDA loans during 2023. The total origination value was $17,035,000, with an average USDA loan value of $270,397.

Myrtle Beach USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Myrtle Beach averaged -0.29% for the week of 2024-06-21, compared to the national average (all USDA variants) of 0% for the same period.

Myrtle Beach's average USDA mortgage closing costs are $5,537.

The average rate for the prior week (2024-06-14) was 6.6% and one month ago for the week of 2024-05-17, the average rate was 6.53%.

The average rate one year ago was 6.71%.

For refis of the same type during the week of 2024-06-21, the average rate was 0%.

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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Myrtle Beach level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
DHI MORTGAGE COMPANY, LTD. 16 5.17% $5,346
UNITED WHOLESALE MORTGAGE, LLC 3 5.71% $11,320
NEWREZ LLC 3 6.04% $7,201
INSPIRE HOME LOANS INC. 3 5.50% $6,035
First Palmetto Bank 2 6.94% $6,726
MORTGAGE INVESTORS GROUP, INC. 2 6.88% $8,706
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 7.00% $9,144
CARDINAL FINANCIAL 2 5.81% $8,381
Truist 2 5.69% $7,581
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 6.38% $8,708
GUARANTEED RATE, INC. 2 5.63% $10,655
Gateway First Bank 1 7.25% $9,523
AMERICAN FINANCIAL NETWORK, INC. 1 6.50% $13,782
HOMESIDE FINANCIAL, LLC 1 6.00% $3,276
INTERCOASTAL MORTGAGE COMPANY 1 6.38% $5,967
Ixonia Bank 1 6.13% $18,901
LOANDEPOT.COM, LLC 1 6.63% $4,908
Magnolia Bank 1 5.38% $9,210
MOVEMENT MORTGAGE, LLC 1 7.00% $9,592
Renasant Bank 1 6.13% $5,925
SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.63% $6,786
SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.25% $3,812
The Central Trust Bank 1 6.63% $5,858
UNION HOME MORTGAGE CORP. 1 7.13% $7,809
GUILD MORTGAGE COMPANY 1 6.63% $5,519
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.50% $10,145
Ameris Bank 1 6.25% $13,023
Atlantic Coast Mortgage, LLC 1 6.25% $9,698
Bank of England 1 6.63% $4,060
CMG MORTGAGE, INC. 1 5.63% $9,804
CROSSCOUNTRY MORTGAGE, LLC 1 4.75% $9,927
EAGLE HOME MORTGAGE, LLC 1 5.99% $3,971
EQUITY RESOURCES, INC. 1 6.00% $5,634
FIRST COMMUNITY MORTGAGE, INC. 1 5.50% $11,867
FREEDOM MORTGAGE CORPORATION 1 7.25% $7,577

The top Myrtle Beach USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 16 USDA loans originated. Their average total fees are $5,346, which is $5,974 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Myrtle Beach USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($5,346), .

The lowest rate Myrtle Beach USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.17%), .


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 $245,345 (6.7%) $318,253 (7.4%) 0.91 6,641
2018-02-01 $247,531 (7.7%) $316,233 (6.2%) 0.90 6,823
2018-03-01 $249,000 (6.0%) $319,276 (5.5%) 0.87 7,024
2018-04-01 $249,900 (4.6%) $326,046 (4.7%) 0.85 7,034
2018-05-01 $252,498 (5.3%) $329,157 (4.6%) 0.84 6,969
2018-06-01 $259,900 (7.7%) $335,091 (4.2%) 0.87 6,870
2018-07-01 $260,213 (6.3%) $335,520 (4.8%) 0.87 6,710
2018-08-01 $259,168 (4.8%) $332,222 (3.2%) 0.87 6,759
2018-09-01 $257,500 (3.4%) $332,379 (2.8%) 0.87 6,671
2018-10-01 $249,988 (0.4%) $324,731 (0.7%) 0.85 6,660
2018-11-01 $250,950 (2.4%) $323,931 (0.4%) 0.85 6,630
2018-12-01 $250,000 (2.0%) $321,139 (-0.1%) 0.86 6,596
2019-01-01 $251,695 (2.6%) $319,625 (0.4%) 0.87 6,529
2019-02-01 $253,050 (2.2%) $322,489 (2.0%) 0.85 6,791
2019-03-01 $255,449 (2.6%) $324,972 (1.8%) 0.84 7,012
2019-04-01 $259,900 (4.0%) $329,551 (1.1%) 0.83 7,209
2019-05-01 $264,200 (4.6%) $334,994 (1.8%) 0.83 7,160
2019-06-01 $263,500 (1.4%) $334,669 (-0.1%) 0.82 7,110
2019-07-01 $260,000 (-0.1%) $334,427 (-0.3%) 0.81 7,030
2019-08-01 $262,155 (1.2%) $336,308 (1.2%) 0.83 6,949
2019-09-01 $265,386 (3.1%) $337,239 (1.5%) 0.85 6,879
2019-10-01 $266,898 (6.8%) $337,202 (3.8%) 0.86 6,836
2019-11-01 $265,000 (5.6%) $336,929 (4.0%) 0.87 6,796
2019-12-01 $264,900 (6.0%) $335,154 (4.4%) 0.88 6,596
2020-01-01 $259,900 (3.3%) $331,222 (3.6%) 0.87 6,376
2020-02-01 $262,000 (3.5%) $332,703 (3.2%) 0.86 6,431
2020-03-01 $261,200 (2.3%) $335,754 (3.3%) 0.82 6,621
2020-04-01 $259,900 (0.0%) $331,226 (0.5%) 0.81 6,894
2020-05-01 $261,995 (-0.8%) $336,674 (0.5%) 0.80 6,652
2020-06-01 $264,900 (0.5%) $339,381 (1.4%) 0.78 5,962
2020-07-01 $262,450 (0.9%) $339,663 (1.6%) 0.76 5,620
2020-08-01 $260,444 (-0.7%) $339,148 (0.8%) 0.75 5,405
2020-09-01 $260,120 (-2.0%) $341,248 (1.2%) 0.75 5,068
2020-10-01 $262,990 (-1.5%) $346,093 (2.6%) 0.75 4,835
2020-11-01 $264,200 (-0.3%) $344,601 (2.3%) 0.77 4,582
2020-12-01 $259,995 (-1.9%) $339,941 (1.4%) 0.77 4,469
2021-01-01 $259,900 (0.0%) $337,006 (1.8%) 0.78 4,104
2021-02-01 $262,896 (0.3%) $341,440 (2.6%) 0.77 3,484
2021-03-01 $273,015 (4.5%) $358,533 (6.8%) 0.77 2,947
2021-04-01 $291,175 (12.0%) $380,422 (14.9%) 0.79 2,476
2021-05-01 $311,185 (18.8%) $415,825 (23.5%) 0.83 1,986
2021-06-01 $329,000 (24.2%) $438,907 (29.3%) 0.87 1,883
2021-07-01 $358,900 (36.8%) $456,133 (34.3%) 0.95 1,966
2021-08-01 $358,198 (37.5%) $456,808 (34.7%) 0.96 2,211
2021-09-01 $356,348 (37.0%) $453,854 (33.0%) 0.95 2,343
2021-10-01 $366,045 (39.2%) $464,347 (34.2%) 0.98 2,391
2021-11-01 $365,539 (38.4%) $464,570 (34.8%) 0.98 2,302
2021-12-01 $370,533 (42.5%) $468,922 (37.9%) 1.00 1,999
2022-01-01 $372,000 (43.1%) $471,861 (40.0%) 1.01 1,785
2022-02-01 $394,808 (50.2%) $512,079 (50.0%) 1.03 1,362
2022-03-01 $399,555 (46.4%) $520,708 (45.2%) 1.00 1,358
2022-04-01 $399,000 (37.0%) $522,855 (37.4%) 0.95 1,570
2022-05-01 $389,900 (25.3%) $514,022 (23.6%) 0.89 2,152
2022-06-01 $389,655 (18.4%) $510,846 (16.4%) 0.87 2,705
2022-07-01 $383,663 (6.9%) $498,701 (9.3%) 0.86 3,337
2022-08-01 $381,175 (6.4%) $488,608 (7.0%) 0.88 3,645
2022-09-01 $382,675 (7.4%) $487,642 (7.4%) 0.89 3,909
2022-10-01 $379,370 (3.6%) $480,837 (3.6%) 0.89 4,153
2022-11-01 $374,172 (2.4%) $470,550 (1.3%) 0.90 4,443
2022-12-01 $365,815 (-1.3%) $462,487 (-1.4%) 0.90 4,478
2023-01-01 $362,500 (-2.6%) $458,294 (-2.9%) 0.90 4,288
2023-02-01 $364,059 (-7.8%) $458,158 (-10.5%) 0.88 4,042
2023-03-01 $365,095 (-8.6%) $462,122 (-11.3%) 0.86 3,929
2023-04-01 $366,948 (-8.0%) $470,655 (-10.0%) 0.85 3,857
2023-05-01 $365,974 (-6.1%) $466,433 (-9.3%) 0.83 3,968
2023-06-01 $365,151 (-6.3%) $468,436 (-8.3%) 0.82 4,037
2023-07-01 $359,900 (-6.2%) $464,469 (-6.9%) 0.82 4,169
2023-08-01 $355,784 (-6.7%) $494,873 (1.3%) 0.82 4,349
2023-09-01 $350,000 (-8.5%) $458,571 (-6.0%) 0.81 4,508
2023-10-01 $350,000 (-7.7%) $459,288 (-4.5%) 0.82 4,814
2023-11-01 $350,000 (-6.5%) $456,685 (-3.0%) 0.83 5,141
2023-12-01 $349,900 (-4.4%) $448,667 (-3.0%) 0.85 5,232
2024-01-01 $345,884 (-4.6%) $445,109 (-2.9%) 0.84 5,367
2024-02-01 $345,875 (-5.0%) $446,242 (-2.6%) 0.83 5,702
2024-03-01 $346,900 (-5.0%) $449,433 (-2.8%) 0.82 5,951
2024-04-01 $345,633 (-5.8%) $448,965 (-4.6%) 0.80 6,340
2024-05-01 $345,544 (-5.6%) $451,174 (-3.3%) 0.78 6,561
Myrtle Beach's median listing price for 2024-05-01 was $345,544, a difference of $-20,430 (-5.6%) versus the prior year and $-89 versus the prior month.

Myrtle Beach's median listing price comes in at 78% of the national average.

Myrtle Beach's average listing price for 2024-05-01 was $451,174, a difference of $-15,259 (-3.3%) versus the prior year and $2,209 versus the prior month.

For the 2024-05-01 period, Myrtle Beach had 6,561 MLS listings, a difference of 221 listings (3%) versus the prior month and 2,593 listings (65%) 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 99 days 1,701 sqft
2018-02-01 94 days 1,701 sqft
2018-03-01 75 days 1,701 sqft
2018-04-01 73 days 1,701 sqft
2018-05-01 73 days 1,701 sqft
2018-06-01 79 days 1,701 sqft
2018-07-01 85 days 1,701 sqft
2018-08-01 82 days 1,701 sqft
2018-09-01 87 days 1,701 sqft
2018-10-01 91 days 1,650 sqft
2018-11-01 95 days 1,647 sqft
2018-12-01 102 days 1,651 sqft
2019-01-01 94 days 1,626 sqft
2019-02-01 89 days 1,605 sqft
2019-03-01 79 days 1,539 sqft
2019-04-01 74 days 1,451 sqft
2019-05-01 76 days 1,451 sqft
2019-06-01 81 days 1,451 sqft
2019-07-01 82 days 1,501 sqft
2019-08-01 84 days 1,511 sqft
2019-09-01 84 days 1,526 sqft
2019-10-01 85 days 1,536 sqft
2019-11-01 86 days 1,550 sqft
2019-12-01 90 days 1,601 sqft
2020-01-01 96 days 1,636 sqft
2020-02-01 93 days 1,651 sqft
2020-03-01 71 days 1,650 sqft
2020-04-01 76 days 1,650 sqft
2020-05-01 86 days 1,651 sqft
2020-06-01 92 days 1,686 sqft
2020-07-01 77 days 1,677 sqft
2020-08-01 68 days 1,660 sqft
2020-09-01 68 days 1,650 sqft
2020-10-01 68 days 1,650 sqft
2020-11-01 68 days 1,637 sqft
2020-12-01 72 days 1,620 sqft
2021-01-01 75 days 1,610 sqft
2021-02-01 73 days 1,600 sqft
2021-03-01 56 days 1,605 sqft
2021-04-01 52 days 1,652 sqft
2021-05-01 46 days 1,671 sqft
2021-06-01 41 days 1,687 sqft
2021-07-01 37 days 1,723 sqft
2021-08-01 35 days 1,729 sqft
2021-09-01 39 days 1,741 sqft
2021-10-01 41 days 1,831 sqft
2021-11-01 44 days 1,805 sqft
2021-12-01 57 days 1,812 sqft
2022-01-01 64 days 1,821 sqft
2022-02-01 48 days 1,814 sqft
2022-03-01 37 days 1,804 sqft
2022-04-01 29 days 1,726 sqft
2022-05-01 26 days 1,710 sqft
2022-06-01 32 days 1,700 sqft
2022-07-01 39 days 1,673 sqft
2022-08-01 45 days 1,672 sqft
2022-09-01 52 days 1,693 sqft
2022-10-01 58 days 1,702 sqft
2022-11-01 65 days 1,702 sqft
2022-12-01 67 days 1,711 sqft
2023-01-01 77 days 1,701 sqft
2023-02-01 79 days 1,713 sqft
2023-03-01 62 days 1,720 sqft
2023-04-01 53 days 1,715 sqft
2023-05-01 51 days 1,701 sqft
2023-06-01 51 days 1,674 sqft
2023-07-01 55 days 1,648 sqft
2023-08-01 55 days 1,618 sqft
2023-09-01 55 days 1,618 sqft
2023-10-01 57 days 1,600 sqft
2023-11-01 59 days 1,601 sqft
2023-12-01 66 days 1,580 sqft
2024-01-01 72 days 1,576 sqft
2024-02-01 62 days 1,561 sqft
2024-03-01 57 days 1,554 sqft
2024-04-01 59 days 1,557 sqft
2024-05-01 59 days 1,546 sqft
Myrtle Beach's median listing age (time on market) for 2024-05-01 was 59 days. This is 16% longer than the same period one year ago.

Myrtle Beach's median square footage for active listings during the 2024-05-01 period was 1,546 sqft. One year prior, the average listing was 1,701 sqft.