Shelby USDA Loan Rates, Closing Costs & Stats

Shelby, 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.

    Shelby's 28 lenders originated 92 USDA loans during 2022. The total origination value was $17,520,000, with an average USDA loan value of $190,435.

    Shelby USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Shelby averaged -0.28% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

    Shelby's average USDA mortgage closing costs are $4,158.

    The average rate for the prior week (2023-11-17) was 6.61% and one month ago for the week of 2023-10-20, the average rate was 7.03%.

    The average rate one year ago was 6.07%.

    For refis of the same type during the week of 2023-11-24, the average rate was -0.95%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    HOMESTAR FINANCIAL CORPORATION 32 4.74% $3,775
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 8 4.44% $7,553
    MOVEMENT MORTGAGE, LLC 6 4.35% $4,356
    CARDINAL FINANCIAL 5 4.70% $6,186
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 5.46% $6,152
    Blue Ridge Bank 3 3.46% $7,154
    HomeTrust Bank 3 3.75% $4,885
    American Security Mortgage Corp. 3 4.79% $6,344
    Hometown Lenders, Inc. 2 5.31% $10,242
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 5.25% $8,326
    United Community Bank 2 4.81% $6,218
    T2 FINANCIAL LLC 2 5.75% $6,813
    CROSSCOUNTRY MORTGAGE, LLC 2 4.47% $11,127
    ON Q FINANCIAL, INC. 1 5.38% $15,668
    RAPID MORTGAGE COMPANY 1 3.75% $10,748
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.63% $5,670
    AMERIFIRST FINANCIAL CORPORATION 1 3.50% $7,413
    ANGEL OAK HOME LOANS LLC 1 5.63% $8,552
    Bank of England 1 3.38% $6,623
    BROKER SOLUTIONS, INC. 1 7.13% $7,341
    C & F Mortgage Corporation 1 3.13% $5,191
    CMG MORTGAGE, INC. 1 5.50% $6,572
    CRESCENT MORTGAGE COMPANY 1 3.13% $4,366
    DIRECT MORTGAGE LOANS, LLC 1 3.50% $5,778
    Alcova Mortgage LLC 1 5.88% $7,490
    Flagstar Bank, FSB 1 2.50% $8,777
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.99% $4,789
    MLD MORTGAGE INC. 1 6.25% $7,982

    The top Shelby USDA lender as defined by loan originations is HOMESTAR FINANCIAL CORPORATION, with 32 USDA loans originated. Their average total fees are $3,775, which is $3,778 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 ($3,775), .

    The lowest rate Shelby USDA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION (4.74%), .

    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 $144,745 (4.0%) $197,484 (7.1%) 0.00 252
    2018-02-01 $163,495 (18.8%) $210,525 (13.2%) 0.00 250
    2018-03-01 $166,495 (19.8%) $213,179 (11.5%) 0.00 237
    2018-04-01 $180,825 (32.0%) $221,941 (11.7%) 0.00 232
    2018-05-01 $177,493 (26.9%) $230,676 (12.4%) 0.00 266
    2018-06-01 $174,695 (23.5%) $229,657 (13.1%) 0.00 272
    2018-07-01 $179,095 (31.1%) $235,908 (21.1%) 0.00 279
    2018-08-01 $171,225 (23.2%) $235,961 (18.1%) 0.00 270
    2018-09-01 $169,950 (25.9%) $234,104 (20.6%) 0.00 263
    2018-10-01 $167,500 (19.7%) $231,749 (18.4%) 0.00 253
    2018-11-01 $175,873 (26.1%) $240,863 (22.1%) 0.00 233
    2018-12-01 $175,000 (25.0%) $241,291 (24.1%) 0.00 215
    2019-01-01 $183,495 (26.8%) $252,166 (27.7%) 0.00 204
    2019-02-01 $192,225 (17.6%) $254,316 (20.8%) 0.00 199
    2019-03-01 $197,693 (18.7%) $259,226 (21.6%) 0.00 181
    2019-04-01 $187,200 (3.5%) $250,592 (12.9%) 0.00 177
    2019-05-01 $216,425 (21.9%) $267,057 (15.8%) 0.00 174
    2019-06-01 $212,000 (21.4%) $279,155 (21.6%) 0.00 175
    2019-07-01 $209,900 (17.2%) $284,791 (20.7%) 0.00 176
    2019-08-01 $202,400 (18.2%) $278,312 (18.0%) 0.00 176
    2019-09-01 $191,150 (12.5%) $266,345 (13.8%) 0.00 185
    2019-10-01 $182,400 (8.9%) $257,300 (11.0%) 0.00 194
    2019-11-01 $189,900 (8.0%) $258,333 (7.3%) 0.00 183
    2019-12-01 $189,900 (8.5%) $257,281 (6.6%) 0.00 171
    2020-01-01 $186,400 (1.6%) $249,254 (-1.2%) 0.00 163
    2020-02-01 $189,799 (-1.3%) $257,931 (1.4%) 0.00 156
    2020-03-01 $214,950 (8.7%) $268,145 (3.4%) 0.00 146
    2020-04-01 $220,675 (17.9%) $268,026 (7.0%) 0.00 125
    2020-05-01 $222,900 (3.0%) $272,321 (2.0%) 0.00 131
    2020-06-01 $220,150 (3.8%) $260,284 (-6.8%) 0.00 108
    2020-07-01 $223,400 (6.4%) $286,634 (0.7%) 0.00 90
    2020-08-01 $219,900 (8.7%) $283,423 (1.8%) 0.00 78
    2020-09-01 $224,400 (17.4%) $319,136 (19.8%) 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 (3.0%) $320,415 (11.8%) 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%) $381,196 (-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
    Shelby's median listing price for 2023-10-01 was $280,150, a difference of $40,150 (16.7%) versus the prior year and $750 versus the prior month.

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

    Shelby's average listing price for 2023-10-01 was $370,796, a difference of $44,854 (13.8%) versus the prior year and $3,320 versus the prior month.

    For the 2023-10-01 period, Shelby had 209 MLS listings, a difference of 11 listings (6%) versus the prior month and -15 listings (-7%) 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 1,803 sqft
    2018-02-01 0 days 1,841 sqft
    2018-03-01 0 days 1,827 sqft
    2018-04-01 0 days 1,886 sqft
    2018-05-01 0 days 1,951 sqft
    2018-06-01 0 days 1,886 sqft
    2018-07-01 0 days 1,930 sqft
    2018-08-01 0 days 1,926 sqft
    2018-09-01 0 days 1,888 sqft
    2018-10-01 0 days 1,835 sqft
    2018-11-01 0 days 1,894 sqft
    2018-12-01 0 days 1,875 sqft
    2019-01-01 0 days 2,002 sqft
    2019-02-01 0 days 2,028 sqft
    2019-03-01 0 days 2,036 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 1,920 sqft
    2019-09-01 0 days 1,842 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 1,841 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 1,562 sqft
    2021-01-01 0 days 1,586 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 1,772 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 1,500 sqft
    2022-08-01 0 days 1,538 sqft
    2022-09-01 0 days 1,558 sqft
    2022-10-01 0 days 1,549 sqft
    2022-11-01 0 days 1,604 sqft
    2022-12-01 0 days 1,604 sqft
    2023-01-01 0 days 1,623 sqft
    2023-02-01 0 days 1,598 sqft
    2023-03-01 0 days 1,631 sqft
    2023-04-01 0 days 1,575 sqft
    2023-05-01 0 days 1,582 sqft
    2023-06-01 0 days 1,558 sqft
    2023-07-01 0 days 1,583 sqft
    2023-08-01 0 days 1,655 sqft
    2023-09-01 0 days 1,666 sqft
    2023-10-01 0 days 1,669 sqft
    Shelby's median listing age (time on market) for 2023-10-01 was 0 days.

    Shelby's median square footage for active listings during the 2023-10-01 period was 1,669 sqft. One year prior, the average listing was 1,549 sqft.