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 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.