Spartanburg USDA Loan Rates, Closing Costs & Stats

SPARTANBURG, SC

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 62 lenders originated 236 USDA loans during 2022. The total origination value was $51,790,000, with an average USDA loan value of $219,449.

Spartanburg USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Spartanburg averaged 6.1% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

Spartanburg's average USDA mortgage closing costs are $5,501.

The average rate for the prior week (2024-02-23) was 6.25% and one month ago for the week of 2024-01-26, the average rate was 5.91%.

The average rate one year ago was 6.27%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.32%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
ARK-LA-TEX FINANCIAL SERVICES, LLC. 25 4.79% $7,946
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 19 4.92% $7,422
PRIMELENDING, A PLAINSCAPITAL COMPANY 19 4.77% $7,668
Sierra Pacific Mortgage Company, Inc. 18 4.22% $7,353
MOVEMENT MORTGAGE, LLC 18 4.97% $7,719
NVR Mortgage Finance, Inc. 10 3.76% $7,181
DHI MORTGAGE COMPANY, LTD. 9 3.40% $5,370
Flagstar Bank, FSB 8 4.42% $5,744
INSPIRE HOME LOANS INC. 8 5.08% $7,795
Renasant Bank 7 3.93% $11,174
GUILD MORTGAGE COMPANY 7 4.66% $7,444
Ameris Bank 5 5.23% $6,694
UNITED WHOLESALE MORTGAGE, LLC 4 5.27% $9,531
APEX HOME LOANS, INC. 4 3.44% $7,496
EAGLE HOME MORTGAGE, LLC 4 4.84% $11,097
Allen Tate Mortgage Partners, LLC 3 4.88% $7,597
ON Q FINANCIAL, INC. 3 5.08% $5,866
SOUTHERN TRUST MORTGAGE, LLC 3 4.17% $6,094
CALIBER HOME LOANS, INC. 3 4.50% $5,279
HOMESIDE FINANCIAL, LLC 2 3.75% $8,244
HOMESTAR FINANCIAL CORPORATION 2 4.50% $4,085
First Heritage Mortgage, LLC 2 3.44% $8,413
Countybank 2 4.62% $5,970
Magnolia Bank 2 4.81% $6,769
Alcova Mortgage LLC 2 5.06% $6,453
CRESCENT MORTGAGE COMPANY 2 4.25% $6,103
SUCCESS MORTGAGE PARTNERS, INC. 2 4.44% $6,614
SUMMIT FUNDING, INC. 2 5.63% $10,963
MIDLAND MORTGAGE CORPORATION 2 4.00% $1,949
CARDINAL FINANCIAL 2 4.25% $11,514
CMG MORTGAGE, INC. 2 5.50% $7,785
CROSSCOUNTRY MORTGAGE, LLC 2 5.81% $6,850
CONTOUR MORTGAGE CORPORATION 2 5.88% $9,685
AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.13% $9,291
Network Funding, L.P. 1 4.00% $6,552
OCEANSIDE MORTGAGE COMPANY 1 3.88% $1,711
PENNYMAC LOAN SERVICES, LLC 1 2.88% $5,966
PLAZA HOME MORTGAGE, INC. 1 4.75% $6,041
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.63% $8,250
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.25% $8,366
Princeton Mortgage Corporation 1 5.25% $5,156
South State Bank 1 4.13% $6,736
UNION HOME MORTGAGE CORP. 1 5.63% $5,105
Century Mortgage Company DBA Century Lending Company 1 3.50% $5,400
Colten Mortgage, LLC 1 2.75% $6,929
CORNERSTONE HOME LENDING, INC. 1 4.25% $6,385
Carrington Mortgage Services, LLC 1 6.13% $10,556
ACOPIA, LLC 1 3.00% $6,143
Equity Prime Mortgage LLC 1 5.38% $12,429
FIRST ALLIANCE HOME MORTGAGE, LLC 1 5.50% $8,058
First-Citizens Bank & Trust Company 1 3.63% $4,703
GENEVA FINANCIAL, LLC 1 3.63% $6,046
Bank of England 1 5.50% $8,448
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.00% $9,418
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.63% $10,724
HOME POINT FINANCIAL CORPORATION 1 4.38% $5,753
HomeTrust Bank 1 4.75% $4,779
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.75% $7,205
LOANDEPOT.COM, LLC 1 5.88% $8,274
MID AMERICA MORTGAGE, INC. 1 4.00% $3,978
Mortgage Network, Inc. 1 4.50% $6,407
Amerifirst Financial, Inc. 1 4.00% $6,684

The top Spartanburg USDA lender as defined by loan originations is ARK-LA-TEX FINANCIAL SERVICES, LLC., with 25 USDA loans originated. Their average total fees are $7,946, which is $523 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Spartanburg USDA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. ($7,181), Sierra Pacific Mortgage Company, Inc. ($7,353), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,422), PRIMELENDING, A PLAINSCAPITAL COMPANY ($7,668) and MOVEMENT MORTGAGE, LLC ($7,719).

The lowest rate Spartanburg USDA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. (3.76%), Sierra Pacific Mortgage Company, Inc. (4.22%), PRIMELENDING, A PLAINSCAPITAL COMPANY (4.77%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (4.79%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (4.92%).


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
Spartanburg's median listing price for 2024-01-01 was $313,269, a difference of $10,822 (3.6%) versus the prior year and $3,275 versus the prior month.

Spartanburg's median listing price comes in at 77% of the national average.

Spartanburg's average listing price for 2024-01-01 was $366,242, a difference of $7,401 (2.1%) versus the prior year and $-2,745 versus the prior month.

For the 2024-01-01 period, Spartanburg had 1,087 MLS listings, a difference of -24 listings (-2%) versus the prior month and 144 listings (15%) 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 2,087 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
Spartanburg's median listing age (time on market) for 2024-01-01 was 64 days. This is -9% shorter than the same period one year ago.

Spartanburg's median square footage for active listings during the 2024-01-01 period was 1,938 sqft. One year prior, the average listing was 1,945 sqft.