Spartanburg USDA Loans

SPARTANBURG, SC

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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.

    Spartanburg's 89 lenders originated 605 USDA loans during 2021. The total origination value was $118,115,000, with an average USDA loan value of $195,231.

    Spartanburg USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Spartanburg averaged 5.59% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

    The average rate for the prior week (2022-05-13) was 5.37% and one month ago for the week of 2022-04-15, the average rate was 4.97%.

    The average rate one year ago was 3.22%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.15%.

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

    Spartanburg USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Spartanburg level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    MOVEMENT MORTGAGE, LLC 58 2.93% $5,340
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 45 3.14% $6,074
    PRIMELENDING, A PLAINSCAPITAL COMPANY 37 3.37% $5,825
    NVR Mortgage Finance, Inc. 37 3.10% $6,391
    DHI MORTGAGE COMPANY, LTD. 32 2.70% $4,808
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 26 3.17% $6,023
    CALIBER HOME LOANS, INC. 23 2.92% $5,052
    MID AMERICA MORTGAGE, INC. 21 3.01% $3,610
    Renasant Bank 19 3.01% $9,768
    GUILD MORTGAGE COMPANY 16 3.05% $6,858
    LENDUS, LLC 15 3.30% $6,301
    ACOPIA, LLC 13 3.02% $6,681
    VANDERBILT MORTGAGE AND FINANCE, INC. 12 2.86% $5,837
    Ameris Bank 12 2.94% $5,558
    ON Q FINANCIAL, INC. 10 3.24% $5,547
    PENNYMAC LOAN SERVICES, LLC 9 2.75% $5,696
    INSPIRE HOME LOANS INC. 9 3.35% $4,990
    HOMESTAR FINANCIAL CORPORATION 8 3.11% $3,850
    APEX HOME LOANS, INC. 8 2.55% $6,145
    Network Funding, L.P. 8 3.08% $5,737
    Colten Mortgage, LLC 8 2.88% $4,400
    LOANDEPOT.COM, LLC 8 3.34% $5,448
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 7 3.30% $5,705
    Paramount Residential Mortgage Group, Inc. 7 3.20% $7,431
    CRESCENT MORTGAGE COMPANY 6 2.79% $5,054
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 6 2.71% $5,517
    CROSSCOUNTRY MORTGAGE, LLC 6 3.27% $6,057
    Blue Ridge Bank 5 2.65% $4,937
    Bank of England 5 3.13% $6,741
    First Heritage Mortgage, LLC 5 2.82% $5,608
    HOMESIDE FINANCIAL, LLC 5 2.85% $6,514
    HomeTrust Bank 5 2.50% $4,940
    PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.33% $6,047
    SOUTHWEST FUNDING, LP 5 4.00% $7,345
    SUCCESS MORTGAGE PARTNERS, INC. 5 2.88% $5,360
    Flagstar Bank, FSB 4 2.63% $5,752
    HOME POINT FINANCIAL CORPORATION 4 2.63% $6,258
    Alcova Mortgage LLC 4 3.00% $3,011
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 4 3.06% $7,317
    Carrington Mortgage Services, LLC 4 3.72% $8,683
    Equity Prime Mortgage LLC 4 3.97% $6,274
    GoPrime Mortgage, Inc. 3 2.79% $5,865
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 3.04% $8,411
    NATIONS DIRECT MORTGAGE, LLC 3 3.12% $7,464
    NP, Inc. 3 2.96% $5,566
    TOWNE MORTGAGE COMPANY 3 2.75% $6,549
    Truist Bank 3 2.92% $5,890
    MIDLAND MORTGAGE CORPORATION 2 2.75% $1,829
    SOUTHPOINT FINANCIAL SERVICES, INC. 2 2.69% $5,627
    AMERICAN FINANCIAL NETWORK, INC. 2 3.00% $8,070
    Wolfe Financial, Inc 2 2.81% $5,146
    KELLER MORTGAGE, LLC 2 3.00% $4,153
    First-Citizens Bank & Trust Company 2 2.88% $4,945
    Countybank 2 2.75% $6,782
    MORTGAGE EQUITY PARTNERS LLC 1 3.25% $5,728
    Citizens Bank 1 3.00% $7,005
    MUTUAL OF OMAHA MORTGAGE, INC. 1 2.25% $3,137
    UNION HOME MORTGAGE CORP. 1 2.38% $6,381
    FIRST COMMUNITY MORTGAGE, INC. 1 3.13% $6,341
    First Savings Bank 1 2.88% $4,286
    NTFN, INC. 1 3.00% $7,436
    CALCON MUTUAL MORTGAGE LLC 1 3.75% $6,129
    BROKER SOLUTIONS, INC. 1 3.13% $4,496
    GUARANTY HOME MORTGAGE CORPORATION 1 2.88% $4,188
    AMERICAN FINANCIAL RESOURCES, INC. 1 3.25% $4,459
    GUARANTEED RATE, INC. 1 3.00% $5,009
    RAPID MORTGAGE COMPANY 1 3.38% $6,520
    Regions Bank 1 2.75% $4,999
    Alpha Mortgage Corporation 1 3.13% $4,799
    RESIDENTIAL MORTGAGE SERVICES, INC. 1 2.75% $6,275
    RESOURCE FINANCIAL SERVICES, INC. 1 2.88% $5,109
    SeaTrust Mortgage Company 1 2.75% $6,684
    Southern First Bank 1 2.75% $5,746
    Wells Fargo Bank 1 2.38% $6,302
    Towne Bank 1 2.38% $10,799
    GSF Mortgage Corporation 1 2.75% $6,122
    FREEDOM MORTGAGE CORPORATION 1 3.25% $5,316
    First Federal Bank 1 2.63% $5,711
    First Guaranty Mortgage Corporation 1 2.88% $4,022
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.63% $4,471
    United Bank 1 2.75% $5,082
    UNITED WHOLESALE MORTGAGE, LLC 1 2.96% $5,344
    Hometown Lenders, Inc. 1 2.75% $6,043
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 2.75% $5,197
    INTERLINC MORTGAGE SERVICES, LLC 1 2.88% $3,992
    LAKEVIEW LOAN SERVICING, LLC 1 3.38% $2,817
    EAGLE HOME MORTGAGE, LLC 1 3.63% $6,958
    DATA MORTGAGE, INC. 1 3.88% $7,833
    Magnolia Bank 1 3.88% $5,213

    The top Spartanburg USDA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 58 USDA loans originated. Their average total fees are $5,340, which is $734 lower than the next largest lender, ARK-LA-TEX FINANCIAL SERVICES, LLC..

    The lowest fee Spartanburg USDA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($3,610), DHI MORTGAGE COMPANY, LTD. ($4,808), CALIBER HOME LOANS, INC. ($5,052), MOVEMENT MORTGAGE, LLC ($5,340) and ON Q FINANCIAL, INC. ($5,547).

    The lowest rate Spartanburg USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (2.70%), VANDERBILT MORTGAGE AND FINANCE, INC. (2.86%), CALIBER HOME LOANS, INC. (2.92%), MOVEMENT MORTGAGE, LLC (2.93%) and Ameris Bank (2.94%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Spartanburg (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 $216,146 (9.4%) $292,237 (4.5%) 0.80 1,709
    2018-02-01 $217,495 (8.8%) $291,365 (3.3%) 0.78 1,627
    2018-03-01 $225,000 (12.2%) $300,180 (6.7%) 0.78 1,558
    2018-04-01 $229,900 (12.2%) $312,439 (10.5%) 0.77 1,547
    2018-05-01 $227,792 (9.0%) $307,930 (7.9%) 0.76 1,656
    2018-06-01 $225,990 (5.4%) $308,370 (6.6%) 0.75 1,759
    2018-07-01 $224,945 (5.2%) $307,848 (6.1%) 0.75 1,789
    2018-08-01 $222,548 (5.0%) $303,523 (3.8%) 0.74 1,878
    2018-09-01 $221,208 (2.9%) $303,158 (1.3%) 0.74 1,912
    2018-10-01 $219,900 (1.8%) $302,927 (-0.2%) 0.74 1,955
    2018-11-01 $219,900 (2.3%) $299,441 (0.6%) 0.74 1,823
    2018-12-01 $217,900 (1.4%) $290,934 (-1.6%) 0.75 1,771
    2019-01-01 $218,775 (1.2%) $285,870 (-2.2%) 0.75 1,722
    2019-02-01 $218,075 (0.3%) $282,885 (-2.9%) 0.73 1,775
    2019-03-01 $220,186 (-2.1%) $291,920 (-2.8%) 0.72 1,768
    2019-04-01 $222,400 (-3.3%) $302,031 (-3.3%) 0.70 1,747
    2019-05-01 $225,596 (-1.0%) $314,382 (2.1%) 0.70 1,750
    2019-06-01 $229,000 (1.3%) $322,134 (4.5%) 0.70 1,774
    2019-07-01 $230,417 (2.4%) $324,202 (5.3%) 0.72 1,774
    2019-08-01 $229,796 (3.3%) $319,437 (5.2%) 0.72 1,831
    2019-09-01 $229,887 (3.9%) $313,910 (3.6%) 0.73 1,870
    2019-10-01 $229,450 (4.3%) $312,219 (3.1%) 0.73 1,932
    2019-11-01 $228,000 (3.7%) $310,684 (3.8%) 0.74 1,881
    2019-12-01 $224,950 (3.2%) $306,519 (5.4%) 0.75 1,858
    2020-01-01 $223,945 (2.4%) $299,262 (4.7%) 0.75 1,711
    2020-02-01 $225,000 (3.2%) $306,521 (8.4%) 0.73 1,598
    2020-03-01 $236,864 (7.6%) $321,016 (10.0%) 0.74 1,513
    2020-04-01 $234,470 (5.4%) $316,180 (4.7%) 0.73 1,610
    2020-05-01 $239,000 (5.9%) $323,053 (2.8%) 0.72 1,466
    2020-06-01 $249,450 (8.9%) $344,085 (6.8%) 0.73 1,270
    2020-07-01 $243,450 (5.7%) $339,572 (4.7%) 0.70 1,125
    2020-08-01 $248,641 (8.2%) $351,018 (9.9%) 0.71 1,048
    2020-09-01 $249,194 (8.4%) $363,245 (15.7%) 0.71 984
    2020-10-01 $249,120 (8.6%) $363,398 (16.4%) 0.71 960
    2020-11-01 $245,188 (7.5%) $359,829 (15.8%) 0.70 949
    2020-12-01 $239,900 (6.7%) $344,508 (12.4%) 0.70 895
    2021-01-01 $237,990 (6.3%) $344,399 (15.1%) 0.70 866
    2021-02-01 $232,856 (3.5%) $342,837 (11.9%) 0.67 795
    2021-03-01 $241,891 (2.1%) $352,150 (9.7%) 0.68 631
    2021-04-01 $243,616 (3.9%) $344,031 (8.8%) 0.65 595
    2021-05-01 $256,801 (7.5%) $377,355 (16.8%) 0.68 509
    2021-06-01 $271,593 (8.9%) $377,377 (9.7%) 0.71 517
    2021-07-01 $277,183 (13.9%) $381,275 (12.3%) 0.72 604
    2021-08-01 $267,880 (7.7%) $361,527 (3.0%) 0.70 703
    2021-09-01 $273,615 (9.8%) $386,480 (6.4%) 0.72 712
    2021-10-01 $275,240 (10.5%) $388,886 (7.0%) 0.72 694
    2021-11-01 $279,475 (14.0%) $402,524 (11.9%) 0.74 622
    2021-12-01 $276,749 (15.4%) $383,651 (11.4%) 0.74 578
    2022-01-01 $279,900 (17.6%) $394,383 (14.5%) 0.75 476
    2022-02-01 $289,556 (24.4%) $389,029 (13.5%) 0.74 435
    2022-03-01 $299,000 (23.6%) $392,845 (11.6%) 0.74 401
    2022-04-01 $300,000 (23.1%) $410,252 (19.3%) 0.71 464
    Spartanburg's median listing price for 2022-04-01 was $300,000, a difference of $56,384 (23.1%) versus the prior year and $1,000 versus the prior month.

    Spartanburg's median listing price comes in at 71% of the national average.

    Spartanburg's average listing price for 2022-04-01 was $410,252, a difference of $66,221 (19.3%) versus the prior year and $17,407 versus the prior month.

    For the 2022-04-01 period, Spartanburg had 464 MLS listings, a difference of 63 listings (16%) versus the prior month and -131 listings (-22%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Spartanburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 97 days 2,014 sqft
    2018-02-01 90 days 2,002 sqft
    2018-03-01 57 days 2,100 sqft
    2018-04-01 54 days 2,137 sqft
    2018-05-01 56 days 2,147 sqft
    2018-06-01 58 days 2,165 sqft
    2018-07-01 64 days 2,123 sqft
    2018-08-01 63 days 2,094 sqft
    2018-09-01 70 days 2,060 sqft
    2018-10-01 71 days 2,006 sqft
    2018-11-01 75 days 2,027 sqft
    2018-12-01 78 days 2,000 sqft
    2019-01-01 91 days 1,996 sqft
    2019-02-01 79 days 2,002 sqft
    2019-03-01 64 days 2,005 sqft
    2019-04-01 65 days 2,022 sqft
    2019-05-01 64 days 2,067 sqft
    2019-06-01 63 days 2,111 sqft
    2019-07-01 64 days 2,104 sqft
    2019-08-01 59 days 2,134 sqft
    2019-09-01 61 days 2,151 sqft
    2019-10-01 64 days 2,082 sqft
    2019-11-01 64 days 2,076 sqft
    2019-12-01 70 days 2,014 sqft
    2020-01-01 79 days 2,000 sqft
    2020-02-01 78 days 2,003 sqft
    2020-03-01 62 days 2,079 sqft
    2020-04-01 64 days 2,015 sqft
    2020-05-01 71 days 2,025 sqft
    2020-06-01 70 days 2,104 sqft
    2020-07-01 66 days 2,093 sqft
    2020-08-01 54 days 2,084 sqft
    2020-09-01 50 days 2,098 sqft
    2020-10-01 55 days 2,043 sqft
    2020-11-01 51 days 1,982 sqft
    2020-12-01 50 days 1,900 sqft
    2021-01-01 56 days 1,847 sqft
    2021-02-01 56 days 1,815 sqft
    2021-03-01 45 days 1,800 sqft
    2021-04-01 45 days 1,788 sqft
    2021-05-01 43 days 1,800 sqft
    2021-06-01 42 days 1,863 sqft
    2021-07-01 38 days 1,874 sqft
    2021-08-01 44 days 1,808 sqft
    2021-09-01 45 days 1,826 sqft
    2021-10-01 48 days 1,850 sqft
    2021-11-01 44 days 1,826 sqft
    2021-12-01 46 days 1,812 sqft
    2022-01-01 56 days 1,823 sqft
    2022-02-01 42 days 1,812 sqft
    2022-03-01 37 days 1,805 sqft
    2022-04-01 36 days 1,823 sqft
    Spartanburg's median listing age (time on market) for 2022-04-01 was 36 days. This is -20% shorter than the same period one year ago.

    Spartanburg's median square footage for active listings during the 2022-04-01 period was 1,823 sqft. One year prior, the average listing was 1,788 sqft.