Spartanburg USDA Loan Rates, Closing Costs & Stats

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 50 lenders originated 145 USDA loans during 2023. The total origination value was $32,675,000, with an average USDA loan value of $225,345.

    Spartanburg USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Spartanburg averaged -0.26% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    Spartanburg's average USDA mortgage closing costs are $5,640.

    The average rate for the prior week (2024-11-08) was 6.1% and one month ago for the week of 2024-10-11, the average rate was 5.76%.

    The average rate one year ago was 7.28%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.34%.

    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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Spartanburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Sierra Pacific Mortgage Company, Inc. 21 5.93% $9,652
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 14 6.54% $6,603
    PRIMELENDING, A PLAINSCAPITAL COMPANY 14 6.16% $8,534
    MOVEMENT MORTGAGE, LLC 9 6.71% $9,373
    DHI MORTGAGE COMPANY, LTD. 6 4.97% $6,056
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.50% $8,381
    NVR Mortgage Finance, Inc. 5 5.90% $11,157
    CROSSCOUNTRY MORTGAGE, LLC 4 6.19% $9,790
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 4 6.63% $7,984
    Renasant Bank 4 6.41% $8,771
    UNITED WHOLESALE MORTGAGE, LLC 3 6.29% $9,837
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.79% $9,057
    HOMESIDE FINANCIAL, LLC 3 6.63% $8,025
    Ameris Bank 2 6.75% $5,789
    Truist 2 5.63% $5,834
    Mortgage Research Center, LLC 2 6.25% $5,630
    First Reliance Bank 2 6.38% $5,916
    MID AMERICA MORTGAGE, INC. 2 6.69% $3,973
    CARDINAL FINANCIAL 2 6.50% $6,820
    INSPIRE HOME LOANS INC. 2 5.94% $8,026
    GUARANTEED RATE, INC. 2 6.38% $7,237
    GUILD MORTGAGE COMPANY 2 6.63% $8,726
    EAGLE HOME MORTGAGE, LLC 2 6.44% $7,460
    NEWREZ LLC 2 6.69% $7,149
    First Heritage Mortgage, LLC 2 7.00% $13,435
    HOMESTAR FINANCIAL CORPORATION 1 6.75% $3,261
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.63% $8,876
    Atlantic Coast Mortgage, LLC 1 7.13% $7,298
    BROKER SOLUTIONS, INC. 1 5.50% $6,419
    Century Mortgage Company DBA Century Lending Company 1 4.88% $10,608
    CONTOUR MORTGAGE CORPORATION 1 6.63% $11,034
    FBC MORTGAGE, LLC 1 5.99% $6,595
    First-Citizens Bank & Trust Company 1 5.88% $6,252
    First Community Bank 1 7.00% $7,577
    First Federal Bank 1 7.63% $7,090
    First Palmetto Bank 1 7.38% $6,012
    GENEVA FINANCIAL, LLC 1 7.75% $15,800
    Alcova Mortgage LLC 1 6.13% $4,749
    HomeTrust Bank 1 5.50% $6,313
    INTERLINC MORTGAGE SERVICES, LLC 1 6.00% $3,145
    LOANDEPOT.COM, LLC 1 6.38% $12,891
    Magnolia Bank 1 7.13% $8,921
    Nations Lending Corporation 1 6.50% $2,832
    Network Funding, L.P. 1 6.00% $8,811
    Paramount Residential Mortgage Group, Inc. 1 6.25% $4,676
    Princeton Mortgage Corporation 1 6.88% $6,323
    RUOFF MORTGAGE COMPANY, INC. 1 7.25% $3,767
    Southern First Bank 1 6.13% $5,494
    South State Bank 1 6.25% $6,632
    THRIVE MORTGAGE, LLC 1 6.38% $7,623

    The top Spartanburg USDA lender as defined by loan originations is Sierra Pacific Mortgage Company, Inc., with 21 USDA loans originated. Their average total fees are $9,652, which is $3,049 higher than the next largest lender, ARK-LA-TEX FINANCIAL SERVICES, LLC..

    The lowest fee Spartanburg USDA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. ($6,603), PRIMELENDING, A PLAINSCAPITAL COMPANY ($8,534), Sierra Pacific Mortgage Company, Inc. ($9,652), .

    The lowest rate Spartanburg USDA lenders (with over 10 loans originated) are Sierra Pacific Mortgage Company, Inc. (5.93%), PRIMELENDING, A PLAINSCAPITAL COMPANY (6.16%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (6.54%), .

    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 $209,950 (10.6%) $249,840 (6.2%) 0.78 1,173
    2018-02-01 $212,620 (9.8%) $251,406 (4.8%) 0.77 1,137
    2018-03-01 $218,214 (13.1%) $262,004 (9.5%) 0.77 1,107
    2018-04-01 $224,139 (15.0%) $271,804 (13.8%) 0.76 1,087
    2018-05-01 $224,306 (13.5%) $272,434 (13.7%) 0.75 1,171
    2018-06-01 $222,500 (9.9%) $271,200 (10.7%) 0.74 1,260
    2018-07-01 $219,900 (7.7%) $270,074 (8.5%) 0.73 1,294
    2018-08-01 $219,054 (7.2%) $268,476 (8.8%) 0.73 1,340
    2018-09-01 $215,082 (4.0%) $265,607 (5.9%) 0.72 1,335
    2018-10-01 $211,700 (0.9%) $261,499 (2.0%) 0.72 1,376
    2018-11-01 $213,708 (2.5%) $260,643 (3.3%) 0.72 1,312
    2018-12-01 $214,900 (2.7%) $256,172 (2.3%) 0.74 1,261
    2019-01-01 $216,285 (3.0%) $261,900 (4.8%) 0.75 1,243
    2019-02-01 $215,082 (1.2%) $261,283 (3.9%) 0.73 1,298
    2019-03-01 $219,372 (0.5%) $306,821 (17.1%) 0.72 1,283
    2019-04-01 $221,482 (-1.2%) $316,317 (16.4%) 0.70 1,244
    2019-05-01 $224,280 (0.0%) $288,400 (5.9%) 0.70 1,239
    2019-06-01 $226,000 (1.6%) $294,304 (8.5%) 0.71 1,245
    2019-07-01 $228,950 (4.1%) $294,417 (9.0%) 0.72 1,236
    2019-08-01 $227,936 (4.1%) $291,558 (8.6%) 0.72 1,293
    2019-09-01 $227,164 (5.6%) $288,378 (8.6%) 0.73 1,338
    2019-10-01 $225,782 (6.7%) $285,549 (9.2%) 0.73 1,368
    2019-11-01 $225,000 (5.3%) $283,922 (8.9%) 0.74 1,339
    2019-12-01 $224,900 (4.7%) $278,424 (8.7%) 0.75 1,348
    2020-01-01 $221,229 (2.3%) $265,310 (1.3%) 0.74 1,267
    2020-02-01 $225,000 (4.6%) $273,025 (4.5%) 0.74 1,204
    2020-03-01 $232,980 (6.2%) $281,823 (-8.2%) 0.73 1,101
    2020-04-01 $229,350 (3.6%) $282,574 (-10.7%) 0.72 1,137
    2020-05-01 $235,000 (4.8%) $287,314 (-0.4%) 0.71 1,019
    2020-06-01 $240,995 (6.6%) $301,893 (2.6%) 0.71 902
    2020-07-01 $237,250 (3.6%) $298,763 (1.5%) 0.69 816
    2020-08-01 $239,000 (4.9%) $306,750 (5.2%) 0.68 765
    2020-09-01 $237,250 (4.4%) $317,922 (10.3%) 0.68 736
    2020-10-01 $240,245 (6.4%) $318,982 (11.7%) 0.69 734
    2020-11-01 $239,925 (6.6%) $320,436 (12.9%) 0.70 754
    2020-12-01 $234,472 (4.3%) $308,594 (10.8%) 0.70 713
    2021-01-01 $234,900 (6.2%) $306,356 (15.5%) 0.70 692
    2021-02-01 $233,985 (4.0%) $309,473 (13.4%) 0.68 661
    2021-03-01 $240,988 (3.4%) $318,592 (13.1%) 0.68 515
    2021-04-01 $240,396 (4.8%) $310,795 (10.0%) 0.65 468
    2021-05-01 $251,376 (7.0%) $317,293 (10.4%) 0.67 392
    2021-06-01 $255,120 (5.9%) $316,406 (4.8%) 0.67 401
    2021-07-01 $271,275 (14.3%) $343,297 (14.9%) 0.72 492
    2021-08-01 $265,880 (11.3%) $336,420 (9.7%) 0.71 587
    2021-09-01 $273,370 (15.2%) $352,504 (10.9%) 0.73 597
    2021-10-01 $276,990 (15.3%) $355,811 (11.6%) 0.74 582
    2021-11-01 $278,033 (15.9%) $362,576 (13.2%) 0.74 515
    2021-12-01 $272,610 (16.3%) $345,315 (11.9%) 0.74 463
    2022-01-01 $279,110 (18.8%) $341,448 (11.5%) 0.75 381
    2022-02-01 $282,643 (20.8%) $344,098 (11.2%) 0.74 339
    2022-03-01 $286,245 (18.8%) $341,622 (7.2%) 0.72 295
    2022-04-01 $291,855 (21.4%) $355,339 (14.3%) 0.70 336
    2022-05-01 $299,940 (19.3%) $348,207 (9.7%) 0.69 495
    2022-06-01 $304,003 (19.2%) $346,391 (9.5%) 0.68 613
    2022-07-01 $305,000 (12.4%) $346,112 (0.8%) 0.69 855
    2022-08-01 $304,825 (14.7%) $350,342 (4.1%) 0.70 1,006
    2022-09-01 $307,150 (12.4%) $351,899 (-0.2%) 0.72 1,087
    2022-10-01 $304,950 (10.1%) $355,091 (-0.2%) 0.72 1,105
    2022-11-01 $303,973 (9.3%) $351,952 (-2.9%) 0.73 1,122
    2022-12-01 $300,000 (10.1%) $353,885 (2.5%) 0.74 1,009
    2023-01-01 $302,447 (8.4%) $358,841 (5.1%) 0.75 943
    2023-02-01 $301,244 (6.6%) $356,538 (3.6%) 0.73 912
    2023-03-01 $305,475 (6.7%) $361,160 (5.7%) 0.72 902
    2023-04-01 $314,900 (7.9%) $375,920 (5.8%) 0.73 939
    2023-05-01 $319,450 (6.5%) $380,741 (9.3%) 0.72 907
    2023-06-01 $312,896 (2.9%) $371,341 (7.2%) 0.70 945
    2023-07-01 $314,900 (3.3%) $375,871 (8.6%) 0.72 981
    2023-08-01 $311,686 (2.3%) $373,965 (6.7%) 0.72 1,016
    2023-09-01 $310,000 (0.9%) $376,634 (7.0%) 0.72 977
    2023-10-01 $309,950 (1.6%) $374,063 (5.3%) 0.73 1,034
    2023-11-01 $306,700 (0.9%) $369,600 (5.0%) 0.73 1,079
    2023-12-01 $309,994 (3.3%) $368,987 (4.3%) 0.76 1,111
    2024-01-01 $313,269 (3.6%) $366,242 (2.1%) 0.77 1,087
    2024-02-01 $311,760 (3.5%) $370,971 (4.1%) 0.75 1,102
    2024-03-01 $310,000 (1.5%) $366,313 (1.4%) 0.73 1,200
    2024-04-01 $309,141 (-1.8%) $371,451 (-1.2%) 0.72 1,277
    2024-05-01 $307,950 (-3.6%) $369,713 (-2.9%) 0.70 1,390
    2024-06-01 $309,000 (-1.3%) $384,965 (3.7%) 0.69 1,421
    2024-07-01 $305,951 (-2.8%) $377,034 (0.3%) 0.70 1,492
    2024-08-01 $307,000 (-1.5%) $375,144 (0.3%) 0.71 1,513
    2024-09-01 $308,162 (-0.6%) $376,668 (0.0%) 0.73 1,483
    2024-10-01 $306,873 (-1.0%) $375,569 (0.4%) 0.72 1,448
    Spartanburg's median listing price for 2024-10-01 was $306,873, a difference of $-3,077 (-1.0%) versus the prior year and $-1,289 versus the prior month.

    Spartanburg's median listing price comes in at 72% of the national average.

    Spartanburg's average listing price for 2024-10-01 was $375,569, a difference of $1,506 (0.4%) versus the prior year and $-1,099 versus the prior month.

    For the 2024-10-01 period, Spartanburg had 1,448 MLS listings, a difference of -35 listings (-2%) versus the prior month and 414 listings (40%) 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 88 days 2,045 sqft
    2018-02-01 83 days 2,042 sqft
    2018-03-01 50 days 2,122 sqft
    2018-04-01 50 days 2,152 sqft
    2018-05-01 52 days 2,149 sqft
    2018-06-01 52 days 2,150 sqft
    2018-07-01 57 days 2,128 sqft
    2018-08-01 56 days 2,106 sqft
    2018-09-01 64 days 2,073 sqft
    2018-10-01 66 days 2,020 sqft
    2018-11-01 66 days 2,026 sqft
    2018-12-01 71 days 2,000 sqft
    2019-01-01 80 days 2,000 sqft
    2019-02-01 71 days 2,017 sqft
    2019-03-01 64 days 2,032 sqft
    2019-04-01 61 days 2,048 sqft
    2019-05-01 61 days 2,082 sqft
    2019-06-01 58 days 2,103 sqft
    2019-07-01 58 days 2,087 sqft
    2019-08-01 57 days 2,096 sqft
    2019-09-01 58 days 2,089 sqft
    2019-10-01 58 days 2,080 sqft
    2019-11-01 59 days 2,055 sqft
    2019-12-01 66 days 2,019 sqft
    2020-01-01 72 days 2,003 sqft
    2020-02-01 73 days 2,006 sqft
    2020-03-01 58 days 2,082 sqft
    2020-04-01 61 days 2,014 sqft
    2020-05-01 69 days 2,026 sqft
    2020-06-01 66 days 2,072 sqft
    2020-07-01 54 days 2,074 sqft
    2020-08-01 46 days 2,100 sqft
    2020-09-01 46 days 2,071 sqft
    2020-10-01 49 days 2,030 sqft
    2020-11-01 46 days 1,968 sqft
    2020-12-01 48 days 1,896 sqft
    2021-01-01 51 days 1,870 sqft
    2021-02-01 49 days 1,808 sqft
    2021-03-01 41 days 1,797 sqft
    2021-04-01 44 days 1,797 sqft
    2021-05-01 43 days 1,800 sqft
    2021-06-01 38 days 1,882 sqft
    2021-07-01 34 days 1,927 sqft
    2021-08-01 38 days 1,844 sqft
    2021-09-01 42 days 1,831 sqft
    2021-10-01 46 days 1,856 sqft
    2021-11-01 39 days 1,839 sqft
    2021-12-01 44 days 1,779 sqft
    2022-01-01 53 days 1,826 sqft
    2022-02-01 34 days 1,828 sqft
    2022-03-01 33 days 1,795 sqft
    2022-04-01 32 days 1,820 sqft
    2022-05-01 25 days 1,858 sqft
    2022-06-01 30 days 1,879 sqft
    2022-07-01 31 days 1,884 sqft
    2022-08-01 39 days 1,900 sqft
    2022-09-01 43 days 1,962 sqft
    2022-10-01 51 days 1,931 sqft
    2022-11-01 59 days 1,925 sqft
    2022-12-01 67 days 1,922 sqft
    2023-01-01 71 days 1,945 sqft
    2023-02-01 63 days 1,942 sqft
    2023-03-01 44 days 1,958 sqft
    2023-04-01 41 days 1,990 sqft
    2023-05-01 48 days 2,025 sqft
    2023-06-01 51 days 2,002 sqft
    2023-07-01 49 days 2,000 sqft
    2023-08-01 47 days 1,955 sqft
    2023-09-01 47 days 1,965 sqft
    2023-10-01 51 days 1,996 sqft
    2023-11-01 50 days 1,965 sqft
    2023-12-01 55 days 1,969 sqft
    2024-01-01 64 days 1,938 sqft
    2024-02-01 49 days 1,925 sqft
    2024-03-01 47 days 1,991 sqft
    2024-04-01 44 days 1,968 sqft
    2024-05-01 39 days 1,996 sqft
    2024-06-01 45 days 1,988 sqft
    2024-07-01 51 days 1,964 sqft
    2024-08-01 53 days 1,927 sqft
    2024-09-01 55 days 1,932 sqft
    2024-10-01 60 days 1,925 sqft
    Spartanburg's median listing age (time on market) for 2024-10-01 was 60 days. This is 19% longer than the same period one year ago.

    Spartanburg's median square footage for active listings during the 2024-10-01 period was 1,925 sqft. One year prior, the average listing was 1,996 sqft.