Shelby USDA Loan Rates, Closing Costs & Stats
Shelby, 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.
Shelby's 14 lenders originated 22 USDA loans during 2024. The total origination value was $4,850,000, with an average USDA loan value of $220,455.
Shelby USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Shelby
averaged
0.1%
for the week of 2025-07-04, compared to the national average (all USDA variants) of
0% for the same period.
Shelby's average USDA mortgage closing costs are $4,382.
The average rate for the prior week (2025-06-27) was
6.44% and
one month ago for the week of 2025-05-30, the
average rate was 6.82%.
The average rate one year ago was 6.62%.
For refis of the same type during the week of 2025-07-04, the average rate
was -0.11%.
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 | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| UNION HOME MORTGAGE CORP. | 5 | 6.35% | $6,440 |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | 2 | 6.81% | $7,522 |
| MOVEMENT MORTGAGE, LLC | 2 | 6.06% | $12,365 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.25% | $2,838 |
| First National Bank of Pennsylvania | 1 | 6.13% | $6,309 |
| HOMESIDE FINANCIAL, LLC | 1 | 5.88% | $11,628 |
| HomeTrust Bank | 1 | 6.00% | $6,624 |
| Paramount Residential Mortgage Group, Inc. | 1 | 5.88% | $8,992 |
| South State Bank | 1 | 6.00% | $6,123 |
| SUMMIT FUNDING, INC. | 1 | 6.13% | $10,703 |
| American Security Mortgage Corp. | 1 | 6.25% | $9,151 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 5.75% | $11,569 |
| Century Mortgage Company DBA Century Lending Company | 1 | 6.13% | $8,815 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 7.13% | $6,616 |
The top Shelby USDA lender as defined by loan originations is UNION HOME MORTGAGE CORP., with
5 USDA loans originated. Their average total fees are
$6,440, which is $1,083
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
.
The lowest rate Shelby USDA lenders (with over 10 loans originated) are
.