Raleigh USDA Loan Rates, Closing Costs & Stats

RALEIGH-CARY, 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.

    Raleigh's 54 lenders originated 144 USDA loans during 2023. The total origination value was $43,000,000, with an average USDA loan value of $298,611.

    Raleigh USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Raleigh averaged 6.1% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Raleigh's average USDA mortgage closing costs are $5,704.

    The average rate for the prior week (2025-02-07) was 5.96% and one month ago for the week of 2025-01-10, the average rate was 6.31%.

    The average rate one year ago was 6.3%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.03%.

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

    Raleigh 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 Raleigh level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 6.70% $6,852
    NVR Mortgage Finance, Inc. 10 5.75% $12,457
    North State Bank 10 5.85% $8,816
    UNITED WHOLESALE MORTGAGE, LLC 8 6.25% $8,833
    HOMESPIRE MORTGAGE CORPORATION 6 6.31% $6,694
    MOVEMENT MORTGAGE, LLC 6 6.00% $12,127
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 5.50% $15,433
    NFM, INC. 5 6.73% $11,518
    CORNERSTONE HOME LENDING, INC. 5 5.67% $9,539
    American Security Mortgage Corp. 5 6.53% $8,243
    GUARANTEED RATE, INC. 4 6.06% $8,683
    GoPrime Mortgage, Inc. 4 6.53% $9,329
    EQUITY RESOURCES, INC. 4 6.44% $7,251
    Truist 4 6.25% $6,920
    CARDINAL FINANCIAL 3 6.38% $8,596
    Prosperity Home Mortgage, LLC 3 6.42% $9,499
    LOANDEPOT.COM, LLC 2 5.88% $8,462
    Paramount Residential Mortgage Group, Inc. 2 6.06% $12,375
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.88% $10,432
    Towne Bank 2 4.81% $7,835
    Towne Mortgage of the Carolinas, LLC 2 6.63% $7,943
    United Community Bank 2 5.81% $6,325
    First-Citizens Bank & Trust Company 2 6.56% $7,260
    First Heritage Mortgage, LLC 2 5.88% $9,885
    Plains Commerce Bank 1 6.13% $6,627
    PLAZA HOME MORTGAGE, INC. 1 5.75% $10,891
    T2 FINANCIAL LLC 1 7.25% $9,649
    UNION HOME MORTGAGE CORP. 1 6.75% $12,550
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.13% $14,748
    ACADEMY MORTGAGE CORPORATION 1 6.25% $7,034
    VELOCIO MORTGAGE L.L.C. 1 4.25% $19,343
    Alcova Mortgage LLC 1 6.38% $11,244
    American National Bank and Trust Company 1 7.50% $7,691
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.63% $3,401
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $10,569
    Atlantic Coast Mortgage, LLC 1 6.50% $7,481
    CHURCHILL MORTGAGE CORPORATION 1 6.63% $7,671
    CMG MORTGAGE, INC. 1 6.25% $7,061
    Corporate Investors Mortgage Group, Inc. 1 5.63% $10,551
    CROSSCOUNTRY MORTGAGE, LLC 1 6.13% $6,235
    DELMAR FINANCIAL COMPANY 1 6.63% $8,083
    DHI MORTGAGE COMPANY, LTD. 1 5.25% $5,512
    Encompass Lending Group, LP 1 5.75% $14,156
    Flagstar Bank, FSB 1 5.25% $10,733
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.13% $12,288
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.38% $5,641
    HOMESIDE FINANCIAL, LLC 1 7.25% $7,253
    Integrity Home Mortgage Corp 1 7.25% $7,516
    Keystone Funding, Inc. 1 5.75% $6,821
    MATTAMY HOME FUNDING, LLC 1 5.63% $6,756
    Mortgage Research Center, LLC 1 5.50% $3,863
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.63% $8,958
    NEWREZ LLC 1 7.25% $12,674
    Northpointe Bank 1 6.00% $10,025

    The top Raleigh USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 11 USDA loans originated. Their average total fees are $6,852, which is $5,606 lower than the next largest lender, NVR Mortgage Finance, Inc..

    The lowest fee Raleigh USDA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,852), North State Bank ($8,816), NVR Mortgage Finance, Inc. ($12,457), .

    The lowest rate Raleigh USDA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. (5.75%), North State Bank (5.85%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.70%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Raleigh (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 $350,639 (2.6%) $423,172 (3.3%) 1.30 4,013
    2018-02-01 $358,750 (3.3%) $427,364 (3.2%) 1.30 4,042
    2018-03-01 $368,454 (2.4%) $439,032 (2.7%) 1.29 4,254
    2018-04-01 $370,344 (0.4%) $440,454 (0.3%) 1.25 4,533
    2018-05-01 $369,945 (0.0%) $441,440 (-0.1%) 1.24 4,866
    2018-06-01 $369,000 (0.8%) $444,668 (1.8%) 1.23 4,953
    2018-07-01 $369,400 (0.9%) $447,943 (2.9%) 1.23 4,856
    2018-08-01 $369,214 (1.5%) $447,025 (3.4%) 1.24 4,946
    2018-09-01 $365,770 (0.7%) $442,064 (2.4%) 1.23 5,077
    2018-10-01 $357,771 (-0.6%) $431,461 (0.8%) 1.21 5,328
    2018-11-01 $354,950 (-1.3%) $429,709 (0.8%) 1.20 5,200
    2018-12-01 $353,815 (-0.6%) $426,176 (-0.1%) 1.22 4,951
    2019-01-01 $349,995 (-0.2%) $423,418 (0.1%) 1.21 4,666
    2019-02-01 $354,748 (-1.1%) $429,785 (0.6%) 1.20 4,626
    2019-03-01 $363,800 (-1.3%) $439,443 (0.1%) 1.19 4,640
    2019-04-01 $369,794 (-0.2%) $449,111 (2.0%) 1.17 4,762
    2019-05-01 $375,000 (1.4%) $455,636 (3.2%) 1.17 4,861
    2019-06-01 $376,250 (2.0%) $453,080 (1.9%) 1.18 4,963
    2019-07-01 $375,000 (1.5%) $451,761 (0.9%) 1.17 5,039
    2019-08-01 $371,969 (0.8%) $447,847 (0.2%) 1.18 5,120
    2019-09-01 $367,993 (0.6%) $444,312 (0.5%) 1.18 5,185
    2019-10-01 $364,645 (1.9%) $441,629 (2.4%) 1.17 5,229
    2019-11-01 $359,450 (1.3%) $439,881 (2.4%) 1.18 5,031
    2019-12-01 $359,950 (1.7%) $442,171 (3.8%) 1.20 4,565
    2020-01-01 $358,914 (2.6%) $442,183 (4.4%) 1.20 4,251
    2020-02-01 $364,500 (2.8%) $449,961 (4.7%) 1.19 4,146
    2020-03-01 $373,712 (2.7%) $461,132 (4.9%) 1.17 4,060
    2020-04-01 $364,445 (-1.5%) $451,353 (0.5%) 1.14 4,325
    2020-05-01 $370,900 (-1.1%) $465,358 (2.1%) 1.12 4,221
    2020-06-01 $381,248 (1.3%) $485,504 (7.2%) 1.12 3,602
    2020-07-01 $381,200 (1.7%) $486,439 (7.7%) 1.11 3,349
    2020-08-01 $385,000 (3.5%) $487,045 (8.8%) 1.10 3,225
    2020-09-01 $389,684 (5.9%) $493,964 (11.2%) 1.12 2,931
    2020-10-01 $389,320 (6.8%) $494,440 (12.0%) 1.12 2,887
    2020-11-01 $384,175 (6.9%) $490,890 (11.6%) 1.13 2,598
    2020-12-01 $385,774 (7.2%) $496,100 (12.2%) 1.15 2,222
    2021-01-01 $389,900 (8.6%) $506,703 (14.6%) 1.16 1,874
    2021-02-01 $395,000 (8.4%) $524,830 (16.6%) 1.15 1,484
    2021-03-01 $397,500 (6.4%) $527,992 (14.5%) 1.13 1,289
    2021-04-01 $401,826 (10.3%) $541,164 (19.9%) 1.08 1,209
    2021-05-01 $405,265 (9.3%) $550,160 (18.2%) 1.07 1,040
    2021-06-01 $409,063 (7.3%) $559,258 (15.2%) 1.08 1,049
    2021-07-01 $409,945 (7.5%) $545,236 (12.1%) 1.08 1,211
    2021-08-01 $424,873 (10.4%) $563,378 (15.7%) 1.13 1,255
    2021-09-01 $425,000 (9.1%) $554,278 (12.2%) 1.13 1,417
    2021-10-01 $425,000 (9.2%) $550,233 (11.3%) 1.13 1,470
    2021-11-01 $426,724 (11.1%) $553,227 (12.7%) 1.14 1,346
    2021-12-01 $423,320 (9.7%) $551,073 (11.1%) 1.15 1,101
    2022-01-01 $425,500 (9.1%) $567,962 (12.1%) 1.15 902
    2022-02-01 $433,157 (9.7%) $588,872 (12.2%) 1.13 658
    2022-03-01 $450,250 (13.3%) $619,421 (17.3%) 1.13 695
    2022-04-01 $478,503 (19.1%) $620,202 (14.6%) 1.14 857
    2022-05-01 $494,500 (22.0%) $608,261 (10.6%) 1.13 1,444
    2022-06-01 $499,950 (22.2%) $626,098 (12.0%) 1.11 2,116
    2022-07-01 $495,000 (20.8%) $614,669 (12.7%) 1.12 2,783
    2022-08-01 $487,450 (14.7%) $605,691 (7.5%) 1.12 3,201
    2022-09-01 $464,450 (9.3%) $580,567 (4.7%) 1.08 3,779
    2022-10-01 $455,000 (7.1%) $576,086 (4.7%) 1.07 3,955
    2022-11-01 $449,950 (5.4%) $570,728 (3.2%) 1.08 3,901
    2022-12-01 $449,000 (6.1%) $569,135 (3.3%) 1.11 3,613
    2023-01-01 $446,347 (4.9%) $573,252 (0.9%) 1.10 3,218
    2023-02-01 $449,900 (3.9%) $583,811 (-0.9%) 1.09 2,853
    2023-03-01 $450,000 (-0.1%) $597,742 (-3.5%) 1.06 2,622
    2023-04-01 $465,000 (-2.8%) $629,907 (1.6%) 1.08 2,444
    2023-05-01 $474,950 (-4.0%) $639,746 (5.2%) 1.08 2,518
    2023-06-01 $480,200 (-4.0%) $641,879 (2.5%) 1.08 2,553
    2023-07-01 $470,000 (-5.1%) $634,278 (3.2%) 1.07 2,587
    2023-08-01 $466,500 (-4.3%) $628,818 (3.8%) 1.07 2,692
    2023-09-01 $459,950 (-1.0%) $624,227 (7.5%) 1.07 2,873
    2023-10-01 $459,394 (1.0%) $621,073 (7.8%) 1.08 3,140
    2023-11-01 $452,450 (0.6%) $615,583 (7.9%) 1.08 3,234
    2023-12-01 $448,685 (-0.1%) $615,526 (8.2%) 1.09 2,975
    2024-01-01 $440,500 (-1.3%) $622,803 (8.6%) 1.07 2,668
    2024-02-01 $442,665 (-1.6%) $634,236 (8.6%) 1.06 2,664
    2024-03-01 $449,995 (0.0%) $643,840 (7.7%) 1.06 2,775
    2024-04-01 $453,383 (-2.5%) $641,496 (1.8%) 1.05 2,947
    2024-05-01 $463,524 (-2.4%) $647,003 (1.1%) 1.04 3,214
    2024-06-01 $469,900 (-2.1%) $635,917 (-0.9%) 1.06 3,569
    2024-07-01 $464,950 (-1.1%) $636,410 (0.3%) 1.06 3,888
    2024-08-01 $455,000 (-2.5%) $625,150 (-0.6%) 1.06 3,986
    2024-09-01 $454,950 (-1.1%) $626,598 (0.4%) 1.07 4,240
    2024-10-01 $454,121 (-1.2%) $623,108 (0.3%) 1.06 4,368
    2024-11-01 $449,900 (-0.6%) $612,144 (-0.6%) 1.08 4,299
    2024-12-01 $444,995 (-0.8%) $605,679 (-1.6%) 1.10 3,777
    2025-01-01 $440,000 (-0.1%) $600,433 (-3.6%) 0.00 3,528
    Raleigh's median listing price for 2025-01-01 was $440,000, a difference of $-500 (-0.1%) versus the prior year and $-4,995 versus the prior month.

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

    Raleigh's average listing price for 2025-01-01 was $600,433, a difference of $-22,370 (-3.6%) versus the prior year and $-5,246 versus the prior month.

    For the 2025-01-01 period, Raleigh had 3,528 MLS listings, a difference of -249 listings (-7%) versus the prior month and 860 listings (32%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Raleigh (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 82 days 2,666 sqft
    2018-02-01 69 days 2,656 sqft
    2018-03-01 53 days 2,700 sqft
    2018-04-01 51 days 2,675 sqft
    2018-05-01 50 days 2,676 sqft
    2018-06-01 53 days 2,665 sqft
    2018-07-01 60 days 2,651 sqft
    2018-08-01 62 days 2,655 sqft
    2018-09-01 65 days 2,623 sqft
    2018-10-01 68 days 2,587 sqft
    2018-11-01 71 days 2,577 sqft
    2018-12-01 78 days 2,563 sqft
    2019-01-01 83 days 2,557 sqft
    2019-02-01 74 days 2,560 sqft
    2019-03-01 61 days 2,594 sqft
    2019-04-01 50 days 2,627 sqft
    2019-05-01 50 days 2,652 sqft
    2019-06-01 50 days 2,630 sqft
    2019-07-01 56 days 2,605 sqft
    2019-08-01 57 days 2,580 sqft
    2019-09-01 58 days 2,557 sqft
    2019-10-01 59 days 2,542 sqft
    2019-11-01 61 days 2,503 sqft
    2019-12-01 69 days 2,505 sqft
    2020-01-01 72 days 2,485 sqft
    2020-02-01 59 days 2,523 sqft
    2020-03-01 47 days 2,554 sqft
    2020-04-01 50 days 2,500 sqft
    2020-05-01 58 days 2,518 sqft
    2020-06-01 58 days 2,543 sqft
    2020-07-01 48 days 2,490 sqft
    2020-08-01 40 days 2,471 sqft
    2020-09-01 45 days 2,459 sqft
    2020-10-01 44 days 2,430 sqft
    2020-11-01 44 days 2,388 sqft
    2020-12-01 49 days 2,377 sqft
    2021-01-01 45 days 2,354 sqft
    2021-02-01 33 days 2,309 sqft
    2021-03-01 25 days 2,259 sqft
    2021-04-01 20 days 2,300 sqft
    2021-05-01 17 days 2,275 sqft
    2021-06-01 16 days 2,261 sqft
    2021-07-01 18 days 2,255 sqft
    2021-08-01 20 days 2,258 sqft
    2021-09-01 19 days 2,247 sqft
    2021-10-01 20 days 2,228 sqft
    2021-11-01 22 days 2,218 sqft
    2021-12-01 34 days 2,199 sqft
    2022-01-01 33 days 2,130 sqft
    2022-02-01 16 days 2,137 sqft
    2022-03-01 11 days 2,183 sqft
    2022-04-01 10 days 2,250 sqft
    2022-05-01 12 days 2,319 sqft
    2022-06-01 16 days 2,354 sqft
    2022-07-01 23 days 2,338 sqft
    2022-08-01 30 days 2,336 sqft
    2022-09-01 42 days 2,287 sqft
    2022-10-01 47 days 2,270 sqft
    2022-11-01 56 days 2,271 sqft
    2022-12-01 68 days 2,284 sqft
    2023-01-01 74 days 2,287 sqft
    2023-02-01 66 days 2,290 sqft
    2023-03-01 52 days 2,308 sqft
    2023-04-01 48 days 2,331 sqft
    2023-05-01 43 days 2,339 sqft
    2023-06-01 43 days 2,351 sqft
    2023-07-01 42 days 2,319 sqft
    2023-08-01 40 days 2,303 sqft
    2023-09-01 43 days 2,278 sqft
    2023-10-01 44 days 2,262 sqft
    2023-11-01 49 days 2,234 sqft
    2023-12-01 63 days 2,205 sqft
    2024-01-01 63 days 2,166 sqft
    2024-02-01 44 days 2,174 sqft
    2024-03-01 42 days 2,187 sqft
    2024-04-01 38 days 2,170 sqft
    2024-05-01 32 days 2,180 sqft
    2024-06-01 36 days 2,220 sqft
    2024-07-01 43 days 2,209 sqft
    2024-08-01 47 days 2,176 sqft
    2024-09-01 51 days 2,158 sqft
    2024-10-01 51 days 2,157 sqft
    2024-11-01 57 days 2,130 sqft
    2024-12-01 70 days 2,118 sqft
    2025-01-01 0 days 2,102 sqft
    Raleigh's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Raleigh's median square footage for active listings during the 2025-01-01 period was 2,102 sqft. One year prior, the average listing was 2,166 sqft.