Seneca USDA Loan Rates, Closing Costs & Stats

Seneca, 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.

Seneca's 13 lenders originated 18 USDA loans during 2023. The total origination value was $3,530,000, with an average USDA loan value of $196,111.

Seneca USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Seneca averaged 6.8% for the week of 2024-05-17, compared to the national average (all USDA variants) of 6.75% for the same period.

Seneca's average USDA mortgage closing costs are $4,769.

The average rate for the prior week (2024-05-10) was 6.93% and one month ago for the week of 2024-04-12, the average rate was 6.46%.

The average rate one year ago was 6.44%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.65%.

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

Seneca 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 Seneca level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.50% $5,616
ON Q FINANCIAL, INC. 3 6.67% $7,208
UNITED WHOLESALE MORTGAGE, LLC 2 5.36% $7,831
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $8,554
BANKSOUTH MORTGAGE COMPANY, LLC 1 6.13% $5,969
DHI MORTGAGE COMPANY, LTD. 1 4.75% $4,871
Ameris Bank 1 6.00% $6,011
MOVEMENT MORTGAGE, LLC 1 7.25% $10,371
NVR Mortgage Finance, Inc. 1 5.63% $6,869
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.25% $8,893
Princeton Mortgage Corporation 1 6.63% $5,644
UNION HOME MORTGAGE CORP. 1 7.63% $10,777
ACOPIA, LLC 1 6.13% $7,541

The top Seneca USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 3 USDA loans originated. Their average total fees are $5,616, which is $1,592 lower than the next largest lender, ON Q FINANCIAL, INC..

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Seneca (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 $249,000 (2.0%) $403,462 (4.3%) 0.00 547
2018-02-01 $249,900 (4.7%) $411,046 (8.5%) 0.00 548
2018-03-01 $272,450 (14.2%) $443,408 (16.1%) 0.00 594
2018-04-01 $282,450 (17.9%) $432,103 (12.6%) 0.00 622
2018-05-01 $285,000 (19.0%) $430,410 (10.3%) 0.00 613
2018-06-01 $280,000 (18.2%) $429,551 (11.6%) 0.00 633
2018-07-01 $289,350 (21.1%) $449,959 (15.3%) 0.00 639
2018-08-01 $289,000 (16.3%) $440,292 (11.6%) 0.00 635
2018-09-01 $279,900 (12.4%) $439,637 (11.0%) 0.00 637
2018-10-01 $279,000 (11.9%) $442,514 (12.1%) 0.00 624
2018-11-01 $275,000 (10.0%) $437,728 (8.2%) 0.00 617
2018-12-01 $274,500 (10.3%) $433,917 (9.4%) 0.00 574
2019-01-01 $274,950 (10.4%) $444,551 (10.2%) 0.00 545
2019-02-01 $269,945 (8.0%) $465,531 (13.3%) 0.00 550
2019-03-01 $280,400 (2.9%) $485,109 (9.4%) 0.00 515
2019-04-01 $297,000 (5.2%) $492,221 (13.9%) 0.00 468
2019-05-01 $299,475 (5.1%) $507,577 (17.9%) 0.00 471
2019-06-01 $310,000 (10.7%) $514,069 (19.7%) 0.00 469
2019-07-01 $294,450 (1.8%) $493,191 (9.6%) 0.00 460
2019-08-01 $291,727 (0.9%) $487,055 (10.6%) 0.00 452
2019-09-01 $295,818 (5.7%) $493,294 (12.2%) 0.00 433
2019-10-01 $304,475 (9.1%) $508,002 (14.8%) 0.00 419
2019-11-01 $319,450 (16.2%) $519,744 (18.7%) 0.00 408
2019-12-01 $300,000 (9.3%) $496,401 (14.4%) 0.00 383
2020-01-01 $299,725 (9.0%) $484,777 (9.1%) 0.00 357
2020-02-01 $295,000 (9.3%) $479,298 (3.0%) 0.00 337
2020-03-01 $299,950 (7.0%) $504,563 (4.0%) 0.00 341
2020-04-01 $300,000 (1.0%) $488,314 (-0.8%) 0.00 338
2020-05-01 $300,000 (0.2%) $504,753 (-0.6%) 0.00 331
2020-06-01 $299,800 (-3.3%) $528,353 (2.8%) 0.00 303
2020-07-01 $305,000 (3.6%) $522,541 (6.0%) 0.00 263
2020-08-01 $300,000 (2.8%) $523,577 (7.5%) 0.00 247
2020-09-01 $299,950 (1.4%) $531,680 (7.8%) 0.00 221
2020-10-01 $299,000 (-1.8%) $535,438 (5.4%) 0.00 204
2020-11-01 $299,669 (-6.2%) $531,351 (2.2%) 0.00 183
2020-12-01 $292,624 (-2.5%) $510,830 (2.9%) 0.00 176
2021-01-01 $290,950 (-2.9%) $510,037 (5.2%) 0.00 160
2021-02-01 $295,000 (0.0%) $569,473 (18.8%) 0.00 149
2021-03-01 $325,000 (8.4%) $597,871 (18.5%) 0.00 139
2021-04-01 $342,000 (14.0%) $608,075 (24.5%) 0.00 122
2021-05-01 $339,900 (13.3%) $566,665 (12.3%) 0.00 118
2021-06-01 $344,975 (15.1%) $538,015 (1.8%) 0.00 146
2021-07-01 $329,500 (8.0%) $514,443 (-1.6%) 0.00 170
2021-08-01 $347,000 (15.7%) $559,686 (6.9%) 0.00 174
2021-09-01 $344,075 (14.7%) $538,533 (1.3%) 0.00 168
2021-10-01 $324,900 (8.7%) $521,635 (-2.6%) 0.00 154
2021-11-01 $315,901 (5.4%) $518,398 (-2.4%) 0.00 182
2021-12-01 $302,546 (3.4%) $505,095 (-1.1%) 0.00 166
2022-01-01 $280,940 (-3.4%) $514,122 (0.8%) 0.00 150
2022-02-01 $296,225 (0.4%) $502,416 (-11.8%) 0.00 149
2022-03-01 $312,500 (-3.9%) $559,225 (-6.5%) 0.00 147
2022-04-01 $341,133 (-0.3%) $565,689 (-7.0%) 0.00 165
2022-05-01 $346,816 (2.0%) $587,930 (3.8%) 0.00 207
2022-06-01 $350,138 (1.5%) $616,935 (14.7%) 0.00 222
2022-07-01 $354,258 (7.5%) $642,234 (24.8%) 0.00 261
2022-08-01 $360,337 (3.8%) $676,718 (20.9%) 0.00 293
2022-09-01 $349,050 (1.5%) $653,850 (21.4%) 0.00 294
2022-10-01 $347,348 (6.9%) $637,430 (22.2%) 0.00 299
2022-11-01 $366,655 (16.1%) $678,663 (30.9%) 0.00 289
2022-12-01 $363,294 (20.1%) $647,173 (28.1%) 0.00 279
2023-01-01 $362,000 (28.9%) $603,057 (17.3%) 0.00 267
2023-02-01 $359,950 (21.5%) $624,887 (24.4%) 0.00 254
2023-03-01 $393,950 (26.1%) $710,980 (27.1%) 0.00 244
2023-04-01 $393,600 (15.4%) $715,641 (26.5%) 0.00 216
2023-05-01 $415,175 (19.7%) $731,171 (24.4%) 0.00 222
2023-06-01 $406,175 (16.0%) $700,307 (13.5%) 0.00 223
2023-07-01 $375,000 (5.9%) $655,615 (2.1%) 0.00 217
2023-08-01 $376,500 (4.5%) $643,553 (-4.9%) 0.00 243
2023-09-01 $399,000 (14.3%) $670,027 (2.5%) 0.00 250
2023-10-01 $394,500 (13.6%) $639,898 (0.4%) 0.00 281
2023-11-01 $382,225 (4.3%) $610,390 (-10.1%) 0.00 292
2023-12-01 $374,500 (3.1%) $593,439 (-8.3%) 0.00 293
2024-01-01 $358,750 (-0.9%) $574,095 (-4.8%) 0.00 297
2024-02-01 $358,225 (-0.5%) $562,928 (-9.9%) 0.00 284
2024-03-01 $400,000 (1.5%) $596,647 (-16.1%) 0.00 305
2024-04-01 $400,000 (1.6%) $613,192 (-14.3%) 0.00 326
Seneca's median listing price for 2024-04-01 was $400,000, a difference of $6,400 (1.6%) versus the prior year and $0 versus the prior month.

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

Seneca's average listing price for 2024-04-01 was $613,192, a difference of $-102,449 (-14.3%) versus the prior year and $16,545 versus the prior month.

For the 2024-04-01 period, Seneca had 326 MLS listings, a difference of 21 listings (7%) versus the prior month and 110 listings (51%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Seneca (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,454 sqft
2018-02-01 0 days 2,433 sqft
2018-03-01 0 days 2,500 sqft
2018-04-01 0 days 2,548 sqft
2018-05-01 0 days 2,600 sqft
2018-06-01 0 days 2,533 sqft
2018-07-01 0 days 2,598 sqft
2018-08-01 0 days 2,587 sqft
2018-09-01 0 days 2,548 sqft
2018-10-01 0 days 2,545 sqft
2018-11-01 0 days 2,458 sqft
2018-12-01 0 days 2,438 sqft
2019-01-01 0 days 2,382 sqft
2019-02-01 0 days 2,305 sqft
2019-03-01 0 days 2,320 sqft
2019-04-01 0 days 2,399 sqft
2019-05-01 0 days 2,523 sqft
2019-06-01 0 days 2,557 sqft
2019-07-01 0 days 2,499 sqft
2019-08-01 0 days 2,508 sqft
2019-09-01 0 days 2,524 sqft
2019-10-01 0 days 2,655 sqft
2019-11-01 0 days 2,746 sqft
2019-12-01 0 days 2,594 sqft
2020-01-01 0 days 2,569 sqft
2020-02-01 0 days 2,446 sqft
2020-03-01 0 days 2,450 sqft
2020-04-01 0 days 2,448 sqft
2020-05-01 0 days 2,470 sqft
2020-06-01 0 days 2,510 sqft
2020-07-01 0 days 2,546 sqft
2020-08-01 0 days 2,571 sqft
2020-09-01 0 days 2,552 sqft
2020-10-01 0 days 2,400 sqft
2020-11-01 0 days 2,309 sqft
2020-12-01 0 days 2,225 sqft
2021-01-01 0 days 2,183 sqft
2021-02-01 0 days 2,153 sqft
2021-03-01 0 days 2,218 sqft
2021-04-01 0 days 2,353 sqft
2021-05-01 0 days 2,100 sqft
2021-06-01 0 days 2,085 sqft
2021-07-01 0 days 2,028 sqft
2021-08-01 0 days 2,121 sqft
2021-09-01 0 days 2,149 sqft
2021-10-01 0 days 1,982 sqft
2021-11-01 0 days 1,931 sqft
2021-12-01 0 days 1,926 sqft
2022-01-01 0 days 1,801 sqft
2022-02-01 0 days 1,824 sqft
2022-03-01 0 days 2,092 sqft
2022-04-01 0 days 2,225 sqft
2022-05-01 0 days 2,127 sqft
2022-06-01 0 days 2,228 sqft
2022-07-01 0 days 2,134 sqft
2022-08-01 0 days 2,189 sqft
2022-09-01 0 days 2,168 sqft
2022-10-01 0 days 2,173 sqft
2022-11-01 0 days 2,212 sqft
2022-12-01 0 days 2,195 sqft
2023-01-01 0 days 2,077 sqft
2023-02-01 0 days 2,044 sqft
2023-03-01 0 days 2,273 sqft
2023-04-01 0 days 2,256 sqft
2023-05-01 0 days 2,305 sqft
2023-06-01 0 days 2,241 sqft
2023-07-01 0 days 2,076 sqft
2023-08-01 0 days 2,168 sqft
2023-09-01 0 days 2,225 sqft
2023-10-01 0 days 2,272 sqft
2023-11-01 0 days 2,285 sqft
2023-12-01 0 days 2,120 sqft
2024-01-01 0 days 2,100 sqft
2024-02-01 0 days 2,000 sqft
2024-03-01 0 days 2,000 sqft
2024-04-01 0 days 2,034 sqft
Seneca's median listing age (time on market) for 2024-04-01 was 0 days.

Seneca's median square footage for active listings during the 2024-04-01 period was 2,034 sqft. One year prior, the average listing was 2,256 sqft.