Raleigh USDA Loan Rates, Closing Costs & Stats

RALEIGH-CARY, 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.

Raleigh's 57 lenders originated 183 USDA loans during 2024. The total origination value was $57,725,000, with an average USDA loan value of $315,437.

Raleigh USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Raleigh averaged 6.5% for the week of 2025-04-04, compared to the national average (all USDA variants) of 6.324% for the same period.

Raleigh's average USDA mortgage closing costs are $5,881.

The average rate for the prior week (2025-03-28) was 6.46% and one month ago for the week of 2025-02-28, the average rate was 6.51%.

The average rate one year ago was 6.77%.

For refis of the same type during the week of 2025-04-04, the average rate was 6.02%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 24 6.28% $8,275
NVR Mortgage Finance, Inc. 18 5.85% $9,254
VANDERBILT MORTGAGE AND FINANCE, INC. 13 5.45% $13,981
VELOCIO MORTGAGE L.L.C. 11 4.88% $7,028
Alcova Mortgage LLC 6 6.64% $6,953
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 6 6.27% $10,458
NFM, INC. 6 6.08% $9,453
MOVEMENT MORTGAGE, LLC 5 6.25% $9,436
American Security Mortgage Corp. 5 6.10% $8,107
GUARANTEED RATE, INC. 4 6.20% $8,515
CORNERSTONE HOME LENDING, INC. 4 5.94% $15,950
FIRST HOME MORTGAGE CORPORATION 4 5.91% $14,811
GUILD MORTGAGE COMPANY 4 6.31% $7,960
SUMMIT FUNDING, INC. 4 5.87% $10,607
Truist 4 5.53% $12,237
PULTE MORTGAGE LLC 3 5.08% $7,282
Towne Bank 3 5.96% $14,909
North State Bank 3 5.92% $7,599
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 6.19% $8,945
CROSSCOUNTRY MORTGAGE, LLC 2 6.31% $6,516
First-Citizens Bank & Trust Company 2 5.88% $7,712
UNITED WHOLESALE MORTGAGE, LLC 2 6.75% $12,524
HOMESPIRE MORTGAGE CORPORATION 2 6.56% $5,134
LOANDEPOT.COM, LLC 2 5.87% $5,762
Loan Simple, Inc. 2 7.00% $13,172
NEWREZ LLC 2 6.63% $8,913
Presidential Bank, FSB 2 6.13% $12,568
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 5.94% $11,268
T2 FINANCIAL LLC 2 6.13% $8,233
TOWNE MORTGAGE COMPANY 2 6.44% $7,759
UNION HOME MORTGAGE CORP. 2 6.25% $10,059
United Community Bank 2 6.25% $9,316
NORWICH COMMERCIAL GROUP, INC. 1 6.25% $5,291
CARDINAL FINANCIAL 1 6.75% $6,651
PLAZA HOME MORTGAGE, INC. 1 7.25% $11,864
EQUITY RESOURCES, INC. 1 5.88% $6,628
FBC MORTGAGE, LLC 1 5.88% $13,994
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 4.99% $7,422
Prosperity Home Mortgage, LLC 1 6.49% $7,576
GENEVA FINANCIAL, LLC 1 6.63% $13,125
SeaTrust Mortgage Company 1 5.62% $6,819
STOCKTON MORTGAGE CORPORATION 1 7.25% $7,772
SUCCESS MORTGAGE PARTNERS, INC. 1 6.50% $11,476
BROKER SOLUTIONS, INC. 1 6.75% $11,194
SUN WEST MORTGAGE COMPANY, INC. 1 5.75% $17,639
EAGLE HOME MORTGAGE, LLC 1 5.75% $4,957
The Federal Savings Bank 1 6.13% $11,392
Capital City Home Loans, LLC 1 5.50% $9,421
First Heritage Mortgage, LLC 1 6.75% $7,335
Hometown Equity Mortgage, LLC 1 6.63% $7,509
JET HOMELOANS, LLC 1 4.99% $6,298
Equity Prime Mortgage LLC 1 5.25% $16,540
V.I.P. MORTGAGE, INC. 1 5.99% $7,124
CMG MORTGAGE, INC. 1 6.50% $6,257
Tyndall Federal Credit Union 1 5.50% $7,132
Century Mortgage Company DBA Century Lending Company 1 5.63% $17,299
Corporate Investors Mortgage Group, Inc. 1 6.50% $7,294

The top Raleigh USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 24 USDA loans originated. Their average total fees are $8,275, which is $979 lower than the next largest lender, NVR Mortgage Finance, Inc..

The lowest fee Raleigh USDA lenders (with over 10 loans originated) are VELOCIO MORTGAGE L.L.C. ($7,028), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,275), NVR Mortgage Finance, Inc. ($9,254), VANDERBILT MORTGAGE AND FINANCE, INC. ($13,981) and .

The lowest rate Raleigh USDA lenders (with over 10 loans originated) are VELOCIO MORTGAGE L.L.C. (4.88%), VANDERBILT MORTGAGE AND FINANCE, INC. (5.45%), NVR Mortgage Finance, Inc. (5.85%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.28%) and .


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%) 1.26 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%) 1.18 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%) 1.13 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%) 1.10 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%) 1.12 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%) 1.09 1,209
2021-05-01 $405,265 (9.3%) $550,160 (18.2%) 1.08 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%) 1.13 3,201
2022-09-01 $464,450 (9.3%) $580,567 (4.7%) 1.09 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%) 1.11 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%) 1.08 2,668
2024-02-01 $442,665 (-1.6%) $634,236 (8.6%) 1.07 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%) 1.05 3,214
2024-06-01 $469,900 (-2.1%) $635,917 (-0.9%) 1.07 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%) 1.07 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%) 1.11 3,777
2025-01-01 $440,000 (-0.1%) $600,433 (-3.6%) 1.10 3,528
2025-02-01 $435,962 (-1.5%) $598,053 (-5.7%) 1.06 3,772
2025-03-01 $445,000 (-1.1%) $608,510 (-5.5%) 0.00 4,091
Raleigh's median listing price for 2025-03-01 was $445,000, a difference of $-4,995 (-1.1%) versus the prior year and $9,038 versus the prior month.

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

Raleigh's average listing price for 2025-03-01 was $608,510, a difference of $-35,330 (-5.5%) versus the prior year and $10,457 versus the prior month.

For the 2025-03-01 period, Raleigh had 4,091 MLS listings, a difference of 319 listings (8%) versus the prior month and 1,316 listings (47%) 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 84 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 59 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 50 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 47 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 41 days 2,187 sqft
2024-04-01 38 days 2,170 sqft
2024-05-01 36 days 2,180 sqft
2024-06-01 40 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 71 days 2,102 sqft
2025-02-01 53 days 2,072 sqft
2025-03-01 0 days 2,103 sqft
Raleigh's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

Raleigh's median square footage for active listings during the 2025-03-01 period was 2,103 sqft. One year prior, the average listing was 2,187 sqft.