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 5.94% for the week of 2025-03-14, compared to the national average (all USDA variants) of 6.402% for the same period.

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

    The average rate for the prior week (2025-03-07) was 6.02% and one month ago for the week of 2025-02-07, the average rate was 6.33%.

    The average rate one year ago was 6.13%.

    For refis of the same type during the week of 2025-03-14, the average rate was 6.44%.

    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 $208,800 (12.9%) $247,077 (7.5%) 0.77 1,216
    2018-02-01 $209,411 (10.3%) $247,955 (5.4%) 0.76 1,182
    2018-03-01 $215,990 (13.8%) $257,984 (10.0%) 0.76 1,153
    2018-04-01 $221,795 (15.6%) $267,118 (14.0%) 0.75 1,126
    2018-05-01 $222,245 (14.6%) $269,101 (14.2%) 0.74 1,207
    2018-06-01 $221,804 (11.5%) $269,506 (11.5%) 0.74 1,293
    2018-07-01 $219,634 (8.7%) $268,670 (8.9%) 0.73 1,330
    2018-08-01 $217,815 (7.4%) $267,300 (9.0%) 0.73 1,377
    2018-09-01 $214,775 (4.8%) $264,498 (6.3%) 0.72 1,374
    2018-10-01 $209,450 (0.3%) $259,654 (2.1%) 0.71 1,419
    2018-11-01 $211,680 (2.5%) $258,919 (3.5%) 0.72 1,361
    2018-12-01 $211,772 (2.4%) $253,582 (2.0%) 0.73 1,317
    2019-01-01 $214,098 (2.5%) $259,849 (5.2%) 0.74 1,288
    2019-02-01 $213,950 (2.2%) $259,293 (4.6%) 0.72 1,337
    2019-03-01 $217,698 (0.8%) $304,117 (17.9%) 0.71 1,317
    2019-04-01 $220,639 (-0.5%) $313,475 (17.4%) 0.70 1,275
    2019-05-01 $223,400 (0.5%) $285,981 (6.3%) 0.70 1,270
    2019-06-01 $225,000 (1.4%) $290,298 (7.7%) 0.70 1,287
    2019-07-01 $225,000 (2.4%) $289,703 (7.8%) 0.70 1,279
    2019-08-01 $224,999 (3.3%) $287,341 (7.5%) 0.71 1,341
    2019-09-01 $224,997 (4.8%) $284,441 (7.5%) 0.72 1,387
    2019-10-01 $224,948 (7.4%) $282,107 (8.7%) 0.73 1,418
    2019-11-01 $224,900 (6.3%) $281,596 (8.8%) 0.74 1,385
    2019-12-01 $223,450 (5.5%) $276,081 (8.9%) 0.75 1,390
    2020-01-01 $220,472 (3.0%) $262,988 (1.2%) 0.74 1,314
    2020-02-01 $224,900 (5.1%) $270,751 (4.4%) 0.74 1,257
    2020-03-01 $231,495 (6.3%) $279,094 (-8.2%) 0.73 1,152
    2020-04-01 $229,325 (3.9%) $280,256 (-10.6%) 0.72 1,179
    2020-05-01 $234,900 (5.2%) $284,273 (-0.6%) 0.71 1,057
    2020-06-01 $240,450 (6.9%) $298,349 (2.8%) 0.71 939
    2020-07-01 $237,748 (5.7%) $296,266 (2.3%) 0.69 845
    2020-08-01 $239,000 (6.2%) $302,883 (5.4%) 0.68 795
    2020-09-01 $237,250 (5.5%) $314,345 (10.5%) 0.68 767
    2020-10-01 $239,900 (6.7%) $314,197 (11.4%) 0.69 757
    2020-11-01 $240,300 (6.9%) $318,753 (13.2%) 0.70 775
    2020-12-01 $234,750 (5.1%) $306,631 (11.1%) 0.70 737
    2021-01-01 $234,999 (6.6%) $304,255 (15.7%) 0.70 714
    2021-02-01 $234,179 (4.1%) $307,656 (13.6%) 0.68 676
    2021-03-01 $240,500 (3.9%) $316,043 (13.2%) 0.68 531
    2021-04-01 $239,893 (4.6%) $307,524 (9.7%) 0.65 482
    2021-05-01 $250,000 (6.4%) $313,276 (10.2%) 0.66 403
    2021-06-01 $254,950 (6.0%) $313,390 (5.0%) 0.67 411
    2021-07-01 $269,620 (13.4%) $340,402 (14.9%) 0.71 506
    2021-08-01 $263,007 (10.0%) $331,641 (9.5%) 0.70 607
    2021-09-01 $271,948 (14.6%) $348,378 (10.8%) 0.73 620
    2021-10-01 $275,000 (14.6%) $350,160 (11.5%) 0.73 610
    2021-11-01 $276,309 (15.0%) $357,403 (12.1%) 0.74 536
    2021-12-01 $270,370 (15.2%) $341,106 (11.2%) 0.73 484
    2022-01-01 $277,447 (18.1%) $334,706 (10.0%) 0.75 404
    2022-02-01 $280,212 (19.7%) $337,374 (9.7%) 0.73 362
    2022-03-01 $284,217 (18.2%) $334,939 (6.0%) 0.71 314
    2022-04-01 $290,000 (20.9%) $350,601 (14.0%) 0.69 347
    2022-05-01 $298,433 (19.4%) $341,456 (9.0%) 0.68 515
    2022-06-01 $301,999 (18.5%) $340,648 (8.7%) 0.67 641
    2022-07-01 $304,900 (13.1%) $342,567 (0.6%) 0.69 884
    2022-08-01 $303,420 (15.4%) $344,395 (3.9%) 0.70 1,059
    2022-09-01 $305,265 (12.3%) $346,617 (-0.5%) 0.71 1,135
    2022-10-01 $302,900 (10.2%) $349,667 (-0.1%) 0.71 1,160
    2022-11-01 $300,120 (8.6%) $346,757 (-3.0%) 0.72 1,169
    2022-12-01 $299,900 (10.9%) $349,601 (2.5%) 0.74 1,064
    2023-01-01 $301,683 (8.7%) $353,499 (5.6%) 0.75 1,000
    2023-02-01 $299,942 (7.0%) $350,600 (3.9%) 0.72 956
    2023-03-01 $303,445 (6.8%) $355,975 (6.3%) 0.72 935
    2023-04-01 $311,999 (7.6%) $371,300 (5.9%) 0.73 965
    2023-05-01 $316,560 (6.1%) $375,127 (9.9%) 0.72 925
    2023-06-01 $312,400 (3.4%) $367,926 (8.0%) 0.70 961
    2023-07-01 $311,389 (2.1%) $372,514 (8.7%) 0.71 1,005
    2023-08-01 $309,495 (2.0%) $370,465 (7.6%) 0.71 1,043
    2023-09-01 $305,900 (0.2%) $372,158 (7.4%) 0.71 1,010
    2023-10-01 $307,854 (1.6%) $370,063 (5.8%) 0.72 1,070
    2023-11-01 $302,225 (0.7%) $364,735 (5.2%) 0.72 1,122
    2023-12-01 $306,000 (2.0%) $363,171 (3.9%) 0.75 1,163
    2024-01-01 $307,999 (2.1%) $363,073 (2.7%) 0.75 1,137
    2024-02-01 $309,198 (3.1%) $368,207 (5.0%) 0.74 1,144
    2024-03-01 $308,000 (1.5%) $362,886 (1.9%) 0.72 1,243
    2024-04-01 $307,493 (-1.4%) $367,464 (-1.0%) 0.72 1,317
    2024-05-01 $304,948 (-3.7%) $367,021 (-2.2%) 0.69 1,432
    2024-06-01 $304,977 (-2.4%) $382,366 (3.9%) 0.69 1,462
    2024-07-01 $302,748 (-2.8%) $374,821 (0.6%) 0.69 1,544
    2024-08-01 $304,000 (-1.8%) $372,989 (0.7%) 0.71 1,563
    2024-09-01 $304,950 (-0.3%) $373,664 (0.4%) 0.72 1,538
    2024-10-01 $300,690 (-2.3%) $371,615 (0.4%) 0.71 1,498
    2024-11-01 $303,990 (0.6%) $370,665 (1.6%) 0.73 1,470
    2024-12-01 $304,145 (-0.6%) $369,762 (1.8%) 0.76 1,388
    2025-01-01 $301,995 (-2.0%) $365,428 (0.7%) 0.75 1,360
    2025-02-01 $305,000 (-1.4%) $363,849 (-1.2%) 0.74 1,407
    Spartanburg's median listing price for 2025-02-01 was $305,000, a difference of $-4,198 (-1.4%) versus the prior year and $3,005 versus the prior month.

    Spartanburg's median listing price comes in at 74% of the national average.

    Spartanburg's average listing price for 2025-02-01 was $363,849, a difference of $-4,358 (-1.2%) versus the prior year and $-1,579 versus the prior month.

    For the 2025-02-01 period, Spartanburg had 1,407 MLS listings, a difference of 47 listings (3%) versus the prior month and 263 listings (23%) 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 87 days 2,042 sqft
    2018-02-01 83 days 2,028 sqft
    2018-03-01 50 days 2,114 sqft
    2018-04-01 50 days 2,143 sqft
    2018-05-01 53 days 2,151 sqft
    2018-06-01 53 days 2,150 sqft
    2018-07-01 57 days 2,120 sqft
    2018-08-01 56 days 2,100 sqft
    2018-09-01 64 days 2,065 sqft
    2018-10-01 66 days 2,005 sqft
    2018-11-01 66 days 2,015 sqft
    2018-12-01 72 days 2,000 sqft
    2019-01-01 80 days 2,000 sqft
    2019-02-01 72 days 2,003 sqft
    2019-03-01 64 days 2,012 sqft
    2019-04-01 61 days 2,036 sqft
    2019-05-01 60 days 2,070 sqft
    2019-06-01 58 days 2,095 sqft
    2019-07-01 58 days 2,074 sqft
    2019-08-01 57 days 2,085 sqft
    2019-09-01 58 days 2,081 sqft
    2019-10-01 58 days 2,070 sqft
    2019-11-01 60 days 2,051 sqft
    2019-12-01 66 days 2,023 sqft
    2020-01-01 72 days 1,995 sqft
    2020-02-01 73 days 2,003 sqft
    2020-03-01 59 days 2,059 sqft
    2020-04-01 62 days 2,007 sqft
    2020-05-01 71 days 2,010 sqft
    2020-06-01 67 days 2,063 sqft
    2020-07-01 55 days 2,069 sqft
    2020-08-01 47 days 2,100 sqft
    2020-09-01 46 days 2,075 sqft
    2020-10-01 49 days 2,040 sqft
    2020-11-01 46 days 1,987 sqft
    2020-12-01 49 days 1,910 sqft
    2021-01-01 51 days 1,883 sqft
    2021-02-01 50 days 1,818 sqft
    2021-03-01 42 days 1,806 sqft
    2021-04-01 44 days 1,800 sqft
    2021-05-01 43 days 1,808 sqft
    2021-06-01 39 days 1,881 sqft
    2021-07-01 33 days 1,900 sqft
    2021-08-01 38 days 1,832 sqft
    2021-09-01 42 days 1,831 sqft
    2021-10-01 47 days 1,856 sqft
    2021-11-01 39 days 1,822 sqft
    2021-12-01 43 days 1,776 sqft
    2022-01-01 53 days 1,871 sqft
    2022-02-01 35 days 1,839 sqft
    2022-03-01 34 days 1,800 sqft
    2022-04-01 32 days 1,820 sqft
    2022-05-01 25 days 1,840 sqft
    2022-06-01 30 days 1,854 sqft
    2022-07-01 31 days 1,871 sqft
    2022-08-01 39 days 1,893 sqft
    2022-09-01 44 days 1,926 sqft
    2022-10-01 51 days 1,924 sqft
    2022-11-01 59 days 1,918 sqft
    2022-12-01 66 days 1,924 sqft
    2023-01-01 71 days 1,944 sqft
    2023-02-01 63 days 1,919 sqft
    2023-03-01 45 days 1,948 sqft
    2023-04-01 42 days 1,972 sqft
    2023-05-01 50 days 2,012 sqft
    2023-06-01 51 days 2,001 sqft
    2023-07-01 49 days 2,000 sqft
    2023-08-01 48 days 1,951 sqft
    2023-09-01 47 days 1,957 sqft
    2023-10-01 51 days 1,973 sqft
    2023-11-01 50 days 1,958 sqft
    2023-12-01 55 days 1,970 sqft
    2024-01-01 64 days 1,937 sqft
    2024-02-01 49 days 1,918 sqft
    2024-03-01 48 days 1,985 sqft
    2024-04-01 44 days 1,960 sqft
    2024-05-01 42 days 1,992 sqft
    2024-06-01 49 days 1,991 sqft
    2024-07-01 51 days 1,972 sqft
    2024-08-01 53 days 1,935 sqft
    2024-09-01 56 days 1,940 sqft
    2024-10-01 61 days 1,903 sqft
    2024-11-01 65 days 1,900 sqft
    2024-12-01 65 days 1,885 sqft
    2025-01-01 70 days 1,833 sqft
    2025-02-01 55 days 1,824 sqft
    Spartanburg's median listing age (time on market) for 2025-02-01 was 55 days. This is 12% longer than the same period one year ago.

    Spartanburg's median square footage for active listings during the 2025-02-01 period was 1,824 sqft. One year prior, the average listing was 1,918 sqft.