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 53 lenders originated 124 USDA loans during 2022. The total origination value was $29,400,000, with an average USDA loan value of $237,097.

Myrtle Beach USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Myrtle Beach averaged 6.2% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

Myrtle Beach's average USDA mortgage closing costs are $5,448.

The average rate for the prior week (2024-02-23) was 6.15% and one month ago for the week of 2024-01-26, the average rate was 5.91%.

The average rate one year ago was 6.17%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.12%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
DHI MORTGAGE COMPANY, LTD. 11 2.94% $6,069
UNITED WHOLESALE MORTGAGE, LLC 9 5.71% $7,612
GUILD MORTGAGE COMPANY 8 4.70% $8,808
Flagstar Bank, FSB 8 3.84% $6,994
Alpha Mortgage Corporation 6 4.92% $6,800
Truist 5 3.63% $6,658
EQUITY RESOURCES, INC. 4 4.25% $6,886
UNION HOME MORTGAGE CORP. 4 3.41% $8,456
VANDERBILT MORTGAGE AND FINANCE, INC. 4 4.44% $10,021
Renasant Bank 3 3.12% $7,810
CARDINAL FINANCIAL 3 5.29% $10,296
GUARANTEED RATE, INC. 3 4.46% $8,542
MOVEMENT MORTGAGE, LLC 3 5.17% $9,088
United Community Bank 3 5.13% $7,735
Blue Ridge Bank 3 5.71% $9,696
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 4.38% $7,116
GUARANTY HOME MORTGAGE CORPORATION 2 4.00% $5,124
JET HOMELOANS, LLC 2 4.75% $6,317
CMG MORTGAGE, INC. 2 4.25% $6,291
T2 FINANCIAL LLC 2 3.44% $7,536
TIDEWATER MORTGAGE SERVICES, INC. 2 3.31% $5,586
American Security Mortgage Corp. 2 4.31% $8,096
CALIBER HOME LOANS, INC. 2 4.44% $8,422
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 4.25% $7,499
RAPID MORTGAGE COMPANY 1 5.13% $4,051
SeaTrust Mortgage Company 1 3.88% $6,715
South State Bank 1 3.13% $6,188
Towne Bank 1 6.25% $8,937
United Bank 1 3.38% $4,945
U.S. Bank 1 3.00% $4,801
West Town Bank & Trust 1 4.88% $7,050
ANGEL OAK HOME LOANS LLC 1 3.63% $6,585
Century Mortgage Company DBA Century Lending Company 1 5.50% $6,735
CERTAINTY HOME LOANS, LLC 1 3.13% $7,252
CORNERSTONE HOME LENDING, INC. 1 4.25% $6,520
Equity Prime Mortgage LLC 1 5.25% $3,754
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 4.00% $10,767
FBC MORTGAGE, LLC 1 5.25% $10,077
First Bank 1 4.37% $4,909
First-Citizens Bank & Trust Company 1 5.25% $7,007
First Reliance Bank 1 3.75% $5,746
INSPIRE HOME LOANS INC. 1 4.63% $5,546
INTERCOASTAL MORTGAGE COMPANY 1 2.88% $6,326
LAKEVIEW LOAN SERVICING, LLC 1 4.75% $2,526
LOANDEPOT.COM, LLC 1 5.88% $7,107
Magnolia Bank 1 4.13% $9,252
MCLEAN MORTGAGE CORPORATION 1 5.63% $5,745
Mortgage Network, Inc. 1 5.50% $6,757
MUTUAL OF OMAHA MORTGAGE, INC. 1 4.25% $7,622
NATION ONE MORTGAGE CORPORATION 1 5.13% $10,828
OCMBC, INC. 1 5.13% $7,216
Paramount Residential Mortgage Group, Inc. 1 3.63% $7,230
PENNYMAC LOAN SERVICES, LLC 1 3.00% $4,720

The top Myrtle Beach USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 11 USDA loans originated. Their average total fees are $6,069, which is $1,543 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. ($6,069), .

The lowest rate Myrtle Beach USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (2.94%), .


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
Myrtle Beach's median listing price for 2024-01-01 was $345,884, a difference of $-16,616 (-4.6%) versus the prior year and $-4,016 versus the prior month.

Myrtle Beach's median listing price comes in at 84% of the national average.

Myrtle Beach's average listing price for 2024-01-01 was $445,109, a difference of $-13,185 (-2.9%) versus the prior year and $-3,558 versus the prior month.

For the 2024-01-01 period, Myrtle Beach had 5,367 MLS listings, a difference of 135 listings (3%) versus the prior month and 1,079 listings (25%) 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
Myrtle Beach's median listing age (time on market) for 2024-01-01 was 72 days. This is -7% shorter than the same period one year ago.

Myrtle Beach's median square footage for active listings during the 2024-01-01 period was 1,576 sqft. One year prior, the average listing was 1,701 sqft.