Newberry USDA Loan Rates, Closing Costs & Stats

Newberry, 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.

Newberry's 13 lenders originated 16 USDA loans during 2022. The total origination value was $2,820,000, with an average USDA loan value of $176,250.

Newberry USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Newberry averaged 6.34% for the week of 2024-02-16, compared to the national average (all USDA variants) of 6.685% for the same period.

Newberry's average USDA mortgage closing costs are $4,760.

The average rate for the prior week (2024-02-09) was 6.18% and one month ago for the week of 2024-01-12, the average rate was 6.2%.

The average rate one year ago was 5.83%.

For refis of the same type during the week of 2024-02-16, the average rate was 6.49%.

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

Newberry 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 Newberry level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNION HOME MORTGAGE CORP. 2 3.00% $4,427
1ST PREFERENCE MORTGAGE CORP. 2 3.50% $7,914
CALIBER HOME LOANS, INC. 1 4.99% $4,264
DHI MORTGAGE COMPANY, LTD. 1 3.63% $5,749
First Community Bank 1 5.75% $8,313
Flagstar Bank, FSB 1 5.25% $5,562
GUILD MORTGAGE COMPANY 1 6.13% $5,314
LOANDEPOT.COM, LLC 1 4.50% $5,235
MOVEMENT MORTGAGE, LLC 1 6.00% $5,519
SOUTHWEST FUNDING, LP 1 6.75% $19,522
SUCCESS MORTGAGE PARTNERS, INC. 1 5.63% $8,676
UNITED WHOLESALE MORTGAGE, LLC 1 4.75% $8,185
Alcova Mortgage LLC 1 4.13% $11,422

The top Newberry USDA lender as defined by loan originations is UNION HOME MORTGAGE CORP., with 2 USDA loans originated. Their average total fees are $4,427, which is $3,487 lower than the next largest lender, 1ST PREFERENCE MORTGAGE CORP..

The lowest fee Newberry USDA lenders (with over 10 loans originated) are .

The lowest rate Newberry USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Newberry (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 $159,450 (-0.2%) $213,676 (-12.2%) 0.00 139
2018-02-01 $161,450 (8.0%) $214,346 (-3.3%) 0.00 129
2018-03-01 $176,250 (21.6%) $235,991 (7.6%) 0.00 116
2018-04-01 $234,000 (56.0%) $258,935 (10.8%) 0.00 107
2018-05-01 $236,500 (32.9%) $260,339 (5.1%) 0.00 91
2018-06-01 $199,900 (12.8%) $256,734 (0.7%) 0.00 102
2018-07-01 $195,700 (8.8%) $238,935 (-1.8%) 0.00 115
2018-08-01 $237,450 (37.9%) $261,611 (12.1%) 0.00 108
2018-09-01 $229,900 (27.8%) $250,899 (5.1%) 0.00 103
2018-10-01 $209,475 (19.7%) $251,663 (9.4%) 0.00 101
2018-11-01 $223,475 (27.7%) $246,556 (11.9%) 0.00 93
2018-12-01 $225,000 (30.5%) $245,314 (13.0%) 0.00 95
2019-01-01 $219,000 (37.4%) $242,047 (13.3%) 0.00 88
2019-02-01 $220,375 (36.5%) $246,760 (15.1%) 0.00 86
2019-03-01 $236,000 (33.9%) $266,512 (12.9%) 0.00 87
2019-04-01 $250,125 (6.9%) $290,021 (12.0%) 0.00 86
2019-05-01 $217,200 (-8.2%) $278,520 (7.0%) 0.00 91
2019-06-01 $195,400 (-2.3%) $259,142 (0.9%) 0.00 86
2019-07-01 $193,100 (-1.3%) $251,170 (5.1%) 0.00 88
2019-08-01 $194,405 (-18.1%) $247,283 (-5.5%) 0.00 95
2019-09-01 $190,211 (-17.3%) $242,552 (-3.3%) 0.00 96
2019-10-01 $187,416 (-10.5%) $239,398 (-4.9%) 0.00 93
2019-11-01 $184,999 (-17.2%) $246,932 (0.2%) 0.00 93
2019-12-01 $187,450 (-16.7%) $246,651 (0.6%) 0.00 95
2020-01-01 $198,450 (-9.4%) $258,781 (6.9%) 0.00 82
2020-02-01 $199,900 (-9.3%) $272,399 (10.4%) 0.00 86
2020-03-01 $208,408 (-11.7%) $275,522 (3.4%) 0.00 84
2020-04-01 $211,380 (-15.5%) $284,288 (-2.0%) 0.00 85
2020-05-01 $229,950 (5.9%) $302,857 (8.7%) 0.00 81
2020-06-01 $224,424 (14.9%) $299,861 (15.7%) 0.00 63
2020-07-01 $223,427 (15.7%) $295,016 (17.5%) 0.00 59
2020-08-01 $219,900 (13.1%) $276,975 (12.0%) 0.00 48
2020-09-01 $198,625 (4.4%) $239,626 (-1.2%) 0.00 47
2020-10-01 $192,500 (2.7%) $246,698 (3.1%) 0.00 41
2020-11-01 $207,450 (12.1%) $253,676 (2.7%) 0.00 36
2020-12-01 $235,000 (25.4%) $295,374 (19.8%) 0.00 44
2021-01-01 $223,500 (12.6%) $269,204 (4.0%) 0.00 36
2021-02-01 $233,750 (16.9%) $278,941 (2.4%) 0.00 42
2021-03-01 $249,913 (19.9%) $305,775 (11.0%) 0.00 33
2021-04-01 $249,000 (17.8%) $303,252 (6.7%) 0.00 22
2021-05-01 $256,375 (11.5%) $303,944 (0.4%) 0.00 21
2021-06-01 $187,500 (-16.5%) $327,635 (9.3%) 0.00 28
2021-07-01 $275,000 (23.1%) $367,964 (24.7%) 0.00 29
2021-08-01 $257,875 (17.3%) $374,764 (35.3%) 0.00 37
2021-09-01 $306,875 (54.5%) $427,215 (78.3%) 0.00 43
2021-10-01 $295,000 (53.3%) $376,227 (52.5%) 0.00 42
2021-11-01 $300,975 (45.1%) $447,394 (76.4%) 0.00 37
2021-12-01 $300,750 (28.0%) $436,155 (47.7%) 0.00 30
2022-01-01 $274,950 (23.0%) $430,329 (59.9%) 0.00 26
2022-02-01 $245,500 (5.0%) $423,765 (51.9%) 0.00 17
2022-03-01 $300,165 (20.1%) $486,032 (59.0%) 0.00 21
2022-04-01 $302,940 (21.7%) $464,355 (53.1%) 0.00 36
2022-05-01 $308,740 (20.4%) $497,143 (63.6%) 0.00 47
2022-06-01 $309,065 (64.8%) $432,643 (32.1%) 0.00 58
2022-07-01 $306,490 (11.5%) $431,245 (17.2%) 0.00 68
2022-08-01 $310,165 (20.3%) $421,836 (12.6%) 0.00 62
2022-09-01 $310,000 (1.0%) $414,530 (-3.0%) 0.00 59
2022-10-01 $304,390 (3.2%) $392,733 (4.4%) 0.00 68
2022-11-01 $299,950 (-0.3%) $369,466 (-17.4%) 0.00 74
2022-12-01 $289,900 (-3.6%) $364,707 (-16.4%) 0.00 73
2023-01-01 $297,145 (8.1%) $374,444 (-13.0%) 0.00 59
2023-02-01 $285,018 (16.1%) $338,327 (-20.2%) 0.00 56
2023-03-01 $276,500 (-7.9%) $359,934 (-25.9%) 0.00 56
2023-04-01 $305,000 (0.7%) $437,500 (-5.8%) 0.00 64
2023-05-01 $401,000 (29.9%) $472,371 (-5.0%) 0.00 48
2023-06-01 $356,750 (15.4%) $458,502 (6.0%) 0.00 41
2023-07-01 $375,000 (22.4%) $462,830 (7.3%) 0.00 39
2023-08-01 $413,750 (33.4%) $503,140 (19.3%) 0.00 44
2023-09-01 $349,750 (12.8%) $475,469 (14.7%) 0.00 54
2023-10-01 $356,713 (17.2%) $496,723 (26.5%) 0.00 69
2023-11-01 $356,549 (18.9%) $506,658 (37.1%) 0.00 67
2023-12-01 $346,895 (19.7%) $480,324 (31.7%) 0.00 69
Newberry's median listing price for 2023-12-01 was $346,895, a difference of $56,995 (19.7%) versus the prior year and $-9,654 versus the prior month.

Newberry's median listing price comes in at 0% of the national average.

Newberry's average listing price for 2023-12-01 was $480,324, a difference of $115,617 (31.7%) versus the prior year and $-26,334 versus the prior month.

For the 2023-12-01 period, Newberry had 69 MLS listings, a difference of 2 listings (3%) versus the prior month and -4 listings (-5%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Newberry (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,861 sqft
2018-02-01 0 days 1,815 sqft
2018-03-01 0 days 1,945 sqft
2018-04-01 0 days 1,985 sqft
2018-05-01 0 days 2,064 sqft
2018-06-01 0 days 1,907 sqft
2018-07-01 0 days 1,817 sqft
2018-08-01 0 days 1,897 sqft
2018-09-01 0 days 1,926 sqft
2018-10-01 0 days 1,955 sqft
2018-11-01 0 days 1,943 sqft
2018-12-01 0 days 2,007 sqft
2019-01-01 0 days 1,953 sqft
2019-02-01 0 days 1,943 sqft
2019-03-01 0 days 1,906 sqft
2019-04-01 0 days 1,854 sqft
2019-05-01 0 days 1,877 sqft
2019-06-01 0 days 1,856 sqft
2019-07-01 0 days 1,770 sqft
2019-08-01 0 days 1,716 sqft
2019-09-01 0 days 1,716 sqft
2019-10-01 0 days 1,736 sqft
2019-11-01 0 days 1,824 sqft
2019-12-01 0 days 1,857 sqft
2020-01-01 0 days 1,915 sqft
2020-02-01 0 days 2,004 sqft
2020-03-01 0 days 2,002 sqft
2020-04-01 0 days 1,986 sqft
2020-05-01 0 days 2,000 sqft
2020-06-01 0 days 1,971 sqft
2020-07-01 0 days 1,908 sqft
2020-08-01 0 days 1,986 sqft
2020-09-01 0 days 1,912 sqft
2020-10-01 0 days 1,929 sqft
2020-11-01 0 days 1,997 sqft
2020-12-01 0 days 1,967 sqft
2021-01-01 0 days 2,009 sqft
2021-02-01 0 days 1,917 sqft
2021-03-01 0 days 1,918 sqft
2021-04-01 0 days 2,044 sqft
2021-05-01 0 days 1,964 sqft
2021-06-01 0 days 1,690 sqft
2021-07-01 0 days 1,950 sqft
2021-08-01 0 days 2,020 sqft
2021-09-01 0 days 2,122 sqft
2021-10-01 0 days 2,100 sqft
2021-11-01 0 days 2,103 sqft
2021-12-01 0 days 2,276 sqft
2022-01-01 0 days 2,146 sqft
2022-02-01 0 days 1,780 sqft
2022-03-01 0 days 2,041 sqft
2022-04-01 0 days 2,049 sqft
2022-05-01 0 days 2,196 sqft
2022-06-01 0 days 2,196 sqft
2022-07-01 0 days 2,232 sqft
2022-08-01 0 days 2,232 sqft
2022-09-01 0 days 2,361 sqft
2022-10-01 0 days 2,303 sqft
2022-11-01 0 days 2,233 sqft
2022-12-01 0 days 2,196 sqft
2023-01-01 0 days 2,204 sqft
2023-02-01 0 days 2,182 sqft
2023-03-01 0 days 2,189 sqft
2023-04-01 0 days 2,176 sqft
2023-05-01 0 days 2,288 sqft
2023-06-01 0 days 2,150 sqft
2023-07-01 0 days 1,886 sqft
2023-08-01 0 days 1,869 sqft
2023-09-01 0 days 1,990 sqft
2023-10-01 0 days 2,225 sqft
2023-11-01 0 days 2,225 sqft
2023-12-01 0 days 2,204 sqft
Newberry's median listing age (time on market) for 2023-12-01 was 0 days.

Newberry's median square footage for active listings during the 2023-12-01 period was 2,204 sqft. One year prior, the average listing was 2,196 sqft.