Shelby USDA Loan Rates, Closing Costs & Stats

Shelby, NC

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Shelby's 11 lenders originated 39 USDA loans during 2023. The total origination value was $7,605,000, with an average USDA loan value of $195,000.

    Shelby USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Shelby averaged 6.39% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Shelby's average USDA mortgage closing costs are $4,271.

    The average rate for the prior week (2025-02-07) was 6.45% and one month ago for the week of 2025-01-10, the average rate was 6.6%.

    The average rate one year ago was 6.29%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.95%.

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

    Shelby 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 Shelby level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    HOMESTAR FINANCIAL CORPORATION 17 6.96% $3,899
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 5 6.40% $7,954
    American Security Mortgage Corp. 5 6.03% $6,918
    UNITED WHOLESALE MORTGAGE, LLC 2 5.69% $7,709
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.13% $9,869
    Fifth Third Bank 2 6.13% $7,666
    CMG MORTGAGE, INC. 1 6.75% $6,119
    COMPASS MORTGAGE, INC. 1 6.63% $6,596
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.38% $8,530
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $11,257
    The Fidelity Bank 1 7.13% $4,757

    The top Shelby USDA lender as defined by loan originations is HOMESTAR FINANCIAL CORPORATION, with 17 USDA loans originated. Their average total fees are $3,899, which is $4,056 lower than the next largest lender, ATLANTIC BAY MORTGAGE GROUP, L.L.C..

    The lowest fee Shelby USDA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION ($3,899), .

    The lowest rate Shelby USDA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION (6.96%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Shelby (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 $144,833 (3.7%) $198,654 (6.8%) 0.00 253
    2018-02-01 $164,493 (19.2%) $211,679 (12.6%) 0.00 251
    2018-03-01 $167,990 (20.7%) $214,356 (10.9%) 0.00 238
    2018-04-01 $181,450 (30.5%) $223,110 (11.2%) 0.00 233
    2018-05-01 $177,743 (27.0%) $231,663 (11.9%) 0.00 267
    2018-06-01 $174,900 (21.7%) $230,602 (12.5%) 0.00 273
    2018-07-01 $179,445 (30.7%) $237,077 (21.1%) 0.00 280
    2018-08-01 $173,845 (24.9%) $237,475 (18.3%) 0.00 270
    2018-09-01 $171,495 (27.0%) $235,594 (20.8%) 0.00 263
    2018-10-01 $168,120 (20.1%) $233,015 (18.5%) 0.00 254
    2018-11-01 $177,618 (27.1%) $242,167 (22.1%) 0.00 234
    2018-12-01 $175,000 (25.0%) $242,468 (24.0%) 0.00 216
    2019-01-01 $184,743 (27.6%) $253,404 (27.6%) 0.00 205
    2019-02-01 $192,450 (17.0%) $255,558 (20.7%) 0.00 200
    2019-03-01 $198,521 (18.2%) $259,290 (21.0%) 0.00 181
    2019-04-01 $187,200 (3.2%) $248,959 (11.6%) 0.00 177
    2019-05-01 $216,425 (21.8%) $265,394 (14.6%) 0.00 174
    2019-06-01 $212,000 (21.2%) $277,492 (20.3%) 0.00 175
    2019-07-01 $209,900 (17.0%) $283,403 (19.5%) 0.00 176
    2019-08-01 $202,436 (16.5%) $279,145 (17.6%) 0.00 177
    2019-09-01 $191,166 (11.5%) $266,709 (13.2%) 0.00 185
    2019-10-01 $182,400 (8.5%) $257,300 (10.4%) 0.00 194
    2019-11-01 $189,900 (6.9%) $258,333 (6.7%) 0.00 183
    2019-12-01 $189,900 (8.5%) $257,281 (6.1%) 0.00 171
    2020-01-01 $186,400 (0.9%) $249,254 (-1.6%) 0.00 163
    2020-02-01 $189,799 (-1.4%) $257,931 (0.9%) 0.00 156
    2020-03-01 $214,950 (8.3%) $268,145 (3.4%) 0.00 146
    2020-04-01 $220,675 (17.9%) $268,026 (7.7%) 0.00 125
    2020-05-01 $222,900 (3.0%) $272,321 (2.6%) 0.00 131
    2020-06-01 $220,150 (3.8%) $260,284 (-6.2%) 0.00 108
    2020-07-01 $223,650 (6.6%) $286,893 (1.2%) 0.00 90
    2020-08-01 $219,900 (8.6%) $283,423 (1.5%) 0.00 78
    2020-09-01 $224,400 (17.4%) $319,136 (19.7%) 0.00 83
    2020-10-01 $230,000 (26.1%) $314,148 (22.1%) 0.00 88
    2020-11-01 $207,250 (9.1%) $280,946 (8.8%) 0.00 89
    2020-12-01 $188,750 (-0.6%) $249,565 (-3.0%) 0.00 92
    2021-01-01 $200,000 (7.3%) $258,627 (3.8%) 0.00 91
    2021-02-01 $214,975 (13.3%) $262,002 (1.6%) 0.00 88
    2021-03-01 $239,425 (11.4%) $281,237 (4.9%) 0.00 67
    2021-04-01 $228,450 (3.5%) $277,407 (3.5%) 0.00 65
    2021-05-01 $212,100 (-4.9%) $336,963 (23.7%) 0.00 56
    2021-06-01 $240,425 (9.2%) $333,107 (28.0%) 0.00 60
    2021-07-01 $230,000 (2.8%) $320,415 (11.7%) 0.00 77
    2021-08-01 $237,475 (8.0%) $348,107 (22.8%) 0.00 105
    2021-09-01 $228,250 (1.7%) $362,082 (13.5%) 0.00 111
    2021-10-01 $259,900 (13.0%) $372,876 (18.7%) 0.00 118
    2021-11-01 $247,750 (19.5%) $386,701 (37.6%) 0.00 146
    2021-12-01 $247,450 (31.1%) $408,650 (63.7%) 0.00 129
    2022-01-01 $247,500 (23.8%) $442,000 (70.9%) 0.00 104
    2022-02-01 $249,950 (16.3%) $417,496 (59.4%) 0.00 81
    2022-03-01 $282,472 (18.0%) $436,254 (55.1%) 0.00 69
    2022-04-01 $265,000 (16.0%) $418,792 (51.0%) 0.00 68
    2022-05-01 $259,450 (22.3%) $386,172 (14.6%) 0.00 90
    2022-06-01 $245,000 (1.9%) $379,831 (14.0%) 0.00 126
    2022-07-01 $227,450 (-1.1%) $364,107 (13.6%) 0.00 164
    2022-08-01 $245,000 (3.2%) $362,163 (4.0%) 0.00 178
    2022-09-01 $238,175 (4.4%) $339,450 (-6.3%) 0.00 205
    2022-10-01 $240,000 (-7.7%) $325,942 (-12.6%) 0.00 224
    2022-11-01 $250,000 (0.9%) $338,683 (-12.4%) 0.00 212
    2022-12-01 $245,900 (-0.6%) $343,789 (-15.9%) 0.00 200
    2023-01-01 $266,000 (7.5%) $350,508 (-20.7%) 0.00 169
    2023-02-01 $264,973 (6.0%) $355,206 (-14.9%) 0.00 158
    2023-03-01 $285,000 (0.9%) $383,483 (-12.1%) 0.00 151
    2023-04-01 $285,000 (7.6%) $374,370 (-10.6%) 0.00 156
    2023-05-01 $278,500 (7.3%) $381,350 (-1.3%) 0.00 153
    2023-06-01 $272,400 (11.2%) $381,807 (0.5%) 0.00 179
    2023-07-01 $269,250 (18.4%) $350,660 (-3.7%) 0.00 178
    2023-08-01 $279,400 (14.0%) $362,212 (0.0%) 0.00 182
    2023-09-01 $279,400 (17.3%) $367,476 (8.3%) 0.00 198
    2023-10-01 $280,150 (16.7%) $370,796 (13.8%) 0.00 209
    2023-11-01 $290,500 (16.2%) $373,343 (10.2%) 0.00 217
    2023-12-01 $289,900 (17.9%) $373,975 (8.8%) 0.00 226
    2024-01-01 $289,949 (9.0%) $370,172 (5.6%) 0.00 234
    2024-02-01 $288,075 (8.7%) $361,099 (1.7%) 0.00 231
    2024-03-01 $285,000 (0.0%) $350,916 (-8.5%) 0.00 221
    2024-04-01 $296,450 (4.0%) $342,834 (-8.4%) 0.00 227
    2024-05-01 $299,200 (7.4%) $348,807 (-8.5%) 0.00 231
    2024-06-01 $313,400 (15.1%) $355,650 (-6.9%) 0.00 240
    2024-07-01 $316,072 (17.4%) $365,983 (4.4%) 0.00 255
    2024-08-01 $305,900 (9.5%) $377,100 (4.1%) 0.00 278
    2024-09-01 $299,498 (7.2%) $377,776 (2.8%) 0.00 290
    2024-10-01 $296,175 (5.7%) $360,353 (-2.8%) 0.00 288
    2024-11-01 $295,000 (1.6%) $360,349 (-3.5%) 0.00 308
    2024-12-01 $296,950 (2.4%) $360,613 (-3.6%) 0.00 317
    2025-01-01 $298,450 (2.9%) $358,381 (-3.2%) 0.00 299
    Shelby's median listing price for 2025-01-01 was $298,450, a difference of $8,501 (2.9%) versus the prior year and $1,500 versus the prior month.

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

    Shelby's average listing price for 2025-01-01 was $358,381, a difference of $-11,791 (-3.2%) versus the prior year and $-2,232 versus the prior month.

    For the 2025-01-01 period, Shelby had 299 MLS listings, a difference of -18 listings (-6%) versus the prior month and 65 listings (28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Shelby (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,805 sqft
    2018-02-01 0 days 1,849 sqft
    2018-03-01 0 days 1,837 sqft
    2018-04-01 0 days 1,893 sqft
    2018-05-01 0 days 1,956 sqft
    2018-06-01 0 days 1,893 sqft
    2018-07-01 0 days 1,948 sqft
    2018-08-01 0 days 1,942 sqft
    2018-09-01 0 days 1,888 sqft
    2018-10-01 0 days 1,836 sqft
    2018-11-01 0 days 1,894 sqft
    2018-12-01 0 days 1,883 sqft
    2019-01-01 0 days 2,010 sqft
    2019-02-01 0 days 2,032 sqft
    2019-03-01 0 days 2,050 sqft
    2019-04-01 0 days 1,964 sqft
    2019-05-01 0 days 2,122 sqft
    2019-06-01 0 days 1,972 sqft
    2019-07-01 0 days 1,939 sqft
    2019-08-01 0 days 1,924 sqft
    2019-09-01 0 days 1,843 sqft
    2019-10-01 0 days 1,799 sqft
    2019-11-01 0 days 1,850 sqft
    2019-12-01 0 days 1,954 sqft
    2020-01-01 0 days 1,811 sqft
    2020-02-01 0 days 1,840 sqft
    2020-03-01 0 days 1,816 sqft
    2020-04-01 0 days 1,846 sqft
    2020-05-01 0 days 1,870 sqft
    2020-06-01 0 days 1,893 sqft
    2020-07-01 0 days 1,866 sqft
    2020-08-01 0 days 1,828 sqft
    2020-09-01 0 days 1,812 sqft
    2020-10-01 0 days 1,782 sqft
    2020-11-01 0 days 1,664 sqft
    2020-12-01 0 days 1,570 sqft
    2021-01-01 0 days 1,587 sqft
    2021-02-01 0 days 1,541 sqft
    2021-03-01 0 days 1,598 sqft
    2021-04-01 0 days 1,654 sqft
    2021-05-01 0 days 1,624 sqft
    2021-06-01 0 days 1,757 sqft
    2021-07-01 0 days 1,744 sqft
    2021-08-01 0 days 1,670 sqft
    2021-09-01 0 days 1,699 sqft
    2021-10-01 0 days 1,800 sqft
    2021-11-01 0 days 1,673 sqft
    2021-12-01 0 days 1,804 sqft
    2022-01-01 0 days 1,827 sqft
    2022-02-01 0 days 1,759 sqft
    2022-03-01 0 days 1,805 sqft
    2022-04-01 0 days 1,747 sqft
    2022-05-01 0 days 1,666 sqft
    2022-06-01 0 days 1,530 sqft
    2022-07-01 0 days 1,498 sqft
    2022-08-01 0 days 1,534 sqft
    2022-09-01 0 days 1,558 sqft
    2022-10-01 0 days 1,549 sqft
    2022-11-01 0 days 1,602 sqft
    2022-12-01 0 days 1,604 sqft
    2023-01-01 0 days 1,626 sqft
    2023-02-01 0 days 1,598 sqft
    2023-03-01 0 days 1,634 sqft
    2023-04-01 0 days 1,575 sqft
    2023-05-01 0 days 1,567 sqft
    2023-06-01 0 days 1,556 sqft
    2023-07-01 0 days 1,579 sqft
    2023-08-01 0 days 1,648 sqft
    2023-09-01 0 days 1,660 sqft
    2023-10-01 0 days 1,668 sqft
    2023-11-01 0 days 1,679 sqft
    2023-12-01 0 days 1,679 sqft
    2024-01-01 0 days 1,686 sqft
    2024-02-01 0 days 1,679 sqft
    2024-03-01 0 days 1,679 sqft
    2024-04-01 0 days 1,765 sqft
    2024-05-01 0 days 1,787 sqft
    2024-06-01 0 days 1,800 sqft
    2024-07-01 0 days 1,806 sqft
    2024-08-01 0 days 1,780 sqft
    2024-09-01 0 days 1,762 sqft
    2024-10-01 0 days 1,687 sqft
    2024-11-01 0 days 1,687 sqft
    2024-12-01 0 days 1,689 sqft
    2025-01-01 0 days 1,676 sqft
    Shelby's median listing age (time on market) for 2025-01-01 was 0 days.

    Shelby's median square footage for active listings during the 2025-01-01 period was 1,676 sqft. One year prior, the average listing was 1,686 sqft.