Spartanburg USDA Loan Rates, Closing Costs & Stats

SPARTANBURG, SC

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 42 lenders originated 149 USDA loans during 2024. The total origination value was $36,525,000, with an average USDA loan value of $245,134.

    Spartanburg USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Spartanburg averaged 6.19% for the week of 2025-05-23, compared to the national average (all USDA variants) of 6.433% for the same period.

    Spartanburg's average USDA mortgage closing costs are $5,748.

    The average rate for the prior week (2025-05-16) was 6.12% and one month ago for the week of 2025-04-18, the average rate was 6.41%.

    The average rate one year ago was 6.38%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.13%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 20 5.16% $5,839
    PRIMELENDING, A PLAINSCAPITAL COMPANY 11 6.21% $8,790
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 10 6.30% $7,356
    NVR Mortgage Finance, Inc. 9 5.80% $8,687
    Sierra Pacific Mortgage Company, Inc. 7 6.29% $8,811
    CROSSCOUNTRY MORTGAGE, LLC 7 6.88% $8,814
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 6 6.23% $8,447
    Flagstar Bank, FSB 6 6.42% $7,215
    The Loan Store, Inc. 5 6.15% $7,641
    FBC MORTGAGE, LLC 5 5.24% $7,199
    EAGLE HOME MORTGAGE, LLC 4 5.53% $9,067
    Paramount Residential Mortgage Group, Inc. 4 6.84% $6,798
    United Community Bank 4 5.88% $7,110
    Renasant Bank 4 6.53% $9,828
    First-Citizens Bank & Trust Company 3 6.17% $6,544
    American Mortgage & Equity Consultants, Inc. 3 5.71% $8,745
    GSF Mortgage Corporation 3 6.54% $8,697
    HOWARD HANNA FINANCIAL SERVICES, INC. 3 6.54% $6,766
    INSPIRE HOME LOANS INC. 3 4.88% $7,229
    Network Funding, L.P. 3 5.50% $8,296
    UNITED WHOLESALE MORTGAGE, LLC 3 5.71% $10,568
    SOUTHPOINT FINANCIAL SERVICES, INC. 2 6.19% $4,447
    TOWNE MORTGAGE COMPANY 2 6.25% $6,538
    United Bank 2 5.63% $6,839
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.75% $10,583
    HOMESIDE FINANCIAL, LLC 1 6.75% $8,152
    OPEN MORTGAGE, LLC 1 6.63% $6,969
    GUILD MORTGAGE COMPANY 1 6.13% $7,611
    PLAZA HOME MORTGAGE, INC. 1 7.13% $9,378
    Presidential Bank, FSB 1 6.13% $8,856
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $9,384
    First Reliance Bank 1 5.50% $11,655
    First Horizon Bank 1 6.63% $6,916
    ACOPIA, LLC 1 4.88% $6,998
    T2 FINANCIAL LLC 1 7.00% $6,491
    EVANSVILLE TEACHERS 1 6.13% $5,230
    Ameris Bank 1 6.00% $7,824
    INTERLINC MORTGAGE SERVICES, LLC 1 5.75% $3,661
    LOANDEPOT.COM, LLC 1 5.50% $11,919
    Keystone Funding, Inc. 1 5.25% $8,219
    Magnolia Bank 1 6.38% $6,410
    MOVEMENT MORTGAGE, LLC 1 5.25% $9,454

    The top Spartanburg USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 20 USDA loans originated. Their average total fees are $5,839, which is $2,952 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

    The lowest fee Spartanburg USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($5,839), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($7,356), PRIMELENDING, A PLAINSCAPITAL COMPANY ($8,790), .

    The lowest rate Spartanburg USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.16%), PRIMELENDING, A PLAINSCAPITAL COMPANY (6.21%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (6.30%), .

    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
    2025-03-01 $307,900 (0.0%) $364,169 (0.4%) 0.72 1,549
    2025-04-01 $309,950 (0.8%) $370,997 (1.0%) 0.72 1,616
    Spartanburg's median listing price for 2025-04-01 was $309,950, a difference of $2,457 (0.8%) versus the prior year and $2,050 versus the prior month.

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

    Spartanburg's average listing price for 2025-04-01 was $370,997, a difference of $3,533 (1.0%) versus the prior year and $6,828 versus the prior month.

    For the 2025-04-01 period, Spartanburg had 1,616 MLS listings, a difference of 67 listings (4%) versus the prior month and 299 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
    2025-03-01 47 days 1,861 sqft
    2025-04-01 45 days 1,883 sqft
    Spartanburg's median listing age (time on market) for 2025-04-01 was 45 days. This is 2% longer than the same period one year ago.

    Spartanburg's median square footage for active listings during the 2025-04-01 period was 1,883 sqft. One year prior, the average listing was 1,960 sqft.