Spartanburg USDA Loans
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 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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.