Summerville USDA Loan Rates, Closing Costs & Stats

Summerville, GA

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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.

    Summerville's 13 lenders originated 20 USDA loans during 2023. The total origination value was $3,300,000, with an average USDA loan value of $165,000.

    Summerville USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Summerville averaged 0.02% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    Summerville's average USDA mortgage closing costs are $5,055.

    The average rate for the prior week (2024-11-08) was 6.57% and one month ago for the week of 2024-10-11, the average rate was 6.33%.

    The average rate one year ago was 7.66%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.1%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Summerville 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 Summerville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FirstBank 4 6.69% $7,699
    HOMESTAR FINANCIAL CORPORATION 3 6.54% $6,113
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.50% $7,602
    LEADERONE FINANCIAL CORPORATION 2 7.00% $6,529
    GUARANTEED RATE, INC. 1 6.25% $5,003
    Flagstar Bank, FSB 1 6.13% $8,337
    United Community Bank 1 6.50% $4,066
    Magnolia Bank 1 5.13% $10,591
    Mortgage Assurance Inc. 1 6.63% $5,950
    Mortgage Research Center, LLC 1 6.13% $2,569
    SUMMIT FUNDING, INC. 1 7.63% $7,566
    UNION HOME MORTGAGE CORP. 1 6.50% $10,732
    Goldwater Bank, N.A. 1 7.13% $9,126

    The top Summerville USDA lender as defined by loan originations is FirstBank, with 4 USDA loans originated. Their average total fees are $7,699, which is $1,586 higher than the next largest lender, HOMESTAR FINANCIAL CORPORATION.

    The lowest fee Summerville USDA lenders (with over 10 loans originated) are .

    The lowest rate Summerville USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Summerville (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 $99,900 (7.5%) $185,777 (-3.2%) 0.00 57
    2018-02-01 $106,000 (14.1%) $185,345 (-4.9%) 0.00 62
    2018-03-01 $100,000 (5.9%) $170,160 (-8.5%) 0.00 65
    2018-04-01 $97,500 (-2.5%) $159,013 (-15.4%) 0.00 73
    2018-05-01 $99,450 (4.7%) $149,054 (-16.1%) 0.00 71
    2018-06-01 $129,900 (38.3%) $172,947 (-1.4%) 0.00 70
    2018-07-01 $128,225 (29.6%) $173,000 (2.3%) 0.00 77
    2018-08-01 $128,325 (38.1%) $181,549 (9.1%) 0.00 74
    2018-09-01 $128,700 (22.7%) $195,487 (2.4%) 0.00 63
    2018-10-01 $117,425 (-7.9%) $176,939 (-10.9%) 0.00 69
    2018-11-01 $128,175 (0.4%) $206,288 (2.3%) 0.00 70
    2018-12-01 $130,000 (4.1%) $240,489 (22.8%) 0.00 65
    2019-01-01 $146,250 (46.4%) $238,597 (28.4%) 0.00 60
    2019-02-01 $149,475 (41.0%) $246,212 (32.8%) 0.00 61
    2019-03-01 $150,814 (50.8%) $241,801 (42.1%) 0.00 61
    2019-04-01 $142,789 (46.5%) $229,136 (44.1%) 0.00 62
    2019-05-01 $147,250 (48.1%) $229,731 (54.1%) 0.00 68
    2019-06-01 $136,450 (5.0%) $230,071 (33.0%) 0.00 68
    2019-07-01 $134,450 (4.9%) $227,598 (31.6%) 0.00 74
    2019-08-01 $131,527 (2.5%) $230,449 (26.9%) 0.00 73
    2019-09-01 $130,106 (1.1%) $240,376 (23.0%) 0.00 74
    2019-10-01 $129,383 (10.2%) $251,246 (42.0%) 0.00 73
    2019-11-01 $125,000 (-2.5%) $231,604 (12.3%) 0.00 70
    2019-12-01 $122,200 (-6.0%) $200,100 (-16.8%) 0.00 68
    2020-01-01 $120,575 (-17.6%) $198,959 (-16.6%) 0.00 64
    2020-02-01 $120,000 (-19.7%) $216,120 (-12.2%) 0.00 65
    2020-03-01 $121,200 (-19.6%) $203,580 (-15.8%) 0.00 65
    2020-04-01 $123,500 (-13.5%) $188,425 (-17.8%) 0.00 67
    2020-05-01 $125,000 (-15.1%) $210,048 (-8.6%) 0.00 51
    2020-06-01 $161,150 (18.1%) $229,354 (-0.3%) 0.00 45
    2020-07-01 $167,225 (24.4%) $231,035 (1.5%) 0.00 38
    2020-08-01 $169,500 (28.9%) $193,303 (-16.1%) 0.00 35
    2020-09-01 $165,925 (27.5%) $186,691 (-22.3%) 0.00 25
    2020-10-01 $124,900 (-3.5%) $194,683 (-22.5%) 0.00 23
    2020-11-01 $124,925 (-0.1%) $164,090 (-29.2%) 0.00 22
    2020-12-01 $122,450 (0.2%) $163,045 (-18.5%) 0.00 19
    2021-01-01 $114,900 (-4.7%) $140,782 (-29.2%) 0.00 17
    2021-02-01 $124,425 (3.7%) $139,852 (-35.3%) 0.00 15
    2021-03-01 $132,500 (9.3%) $179,215 (-12.0%) 0.00 21
    2021-04-01 $166,625 (34.9%) $201,209 (6.8%) 0.00 19
    2021-05-01 $146,900 (17.5%) $176,995 (-15.7%) 0.00 18
    2021-06-01 $146,900 (-8.8%) $179,234 (-21.9%) 0.00 21
    2021-07-01 $179,900 (7.6%) $211,857 (-8.3%) 0.00 23
    2021-08-01 $201,725 (19.0%) $248,301 (28.5%) 0.00 25
    2021-09-01 $187,700 (13.1%) $266,144 (42.6%) 0.00 28
    2021-10-01 $249,900 (100.1%) $311,997 (60.3%) 0.00 33
    2021-11-01 $261,250 (109.1%) $368,258 (124.4%) 0.00 30
    2021-12-01 $268,124 (119.0%) $384,268 (135.7%) 0.00 36
    2022-01-01 $235,000 (104.5%) $358,866 (154.9%) 0.00 34
    2022-02-01 $208,675 (67.7%) $387,637 (177.2%) 0.00 33
    2022-03-01 $187,000 (41.1%) $357,846 (99.7%) 0.00 37
    2022-04-01 $235,000 (41.0%) $322,692 (60.4%) 0.00 37
    2022-05-01 $226,000 (53.9%) $339,756 (92.0%) 0.00 35
    2022-06-01 $249,225 (69.7%) $349,398 (94.9%) 0.00 37
    2022-07-01 $249,450 (38.7%) $362,153 (70.9%) 0.00 36
    2022-08-01 $279,725 (38.7%) $428,252 (72.5%) 0.00 34
    2022-09-01 $249,000 (32.7%) $356,700 (34.0%) 0.00 34
    2022-10-01 $229,950 (-8.0%) $352,285 (12.9%) 0.00 33
    2022-11-01 $224,675 (-14.0%) $326,681 (-11.3%) 0.00 38
    2022-12-01 $234,500 (-12.5%) $349,265 (-9.1%) 0.00 40
    2023-01-01 $226,175 (-3.8%) $330,905 (-7.8%) 0.00 42
    2023-02-01 $250,000 (19.8%) $362,790 (-6.4%) 0.00 38
    2023-03-01 $249,900 (33.6%) $385,035 (7.6%) 0.00 38
    2023-04-01 $232,400 (-1.1%) $326,150 (1.1%) 0.00 45
    2023-05-01 $205,950 (-8.9%) $312,183 (-8.1%) 0.00 52
    2023-06-01 $228,450 (-8.3%) $352,641 (0.9%) 0.00 60
    2023-07-01 $249,000 (-0.2%) $353,120 (-2.5%) 0.00 54
    2023-08-01 $268,425 (-4.0%) $366,668 (-14.4%) 0.00 48
    2023-09-01 $299,000 (20.1%) $436,281 (22.3%) 0.00 42
    2023-10-01 $269,000 (17.0%) $406,708 (15.5%) 0.00 43
    2023-11-01 $247,175 (10.0%) $396,110 (21.3%) 0.00 50
    2023-12-01 $225,000 (-4.1%) $367,772 (5.3%) 0.00 51
    2024-01-01 $260,850 (15.3%) $421,195 (27.3%) 0.00 49
    2024-02-01 $293,450 (17.4%) $435,101 (19.9%) 0.00 51
    2024-03-01 $264,900 (6.0%) $408,867 (6.2%) 0.00 53
    2024-04-01 $214,500 (-7.7%) $377,547 (15.8%) 0.00 46
    2024-05-01 $203,725 (-1.1%) $387,995 (24.3%) 0.00 44
    2024-06-01 $210,000 (-8.1%) $397,864 (12.8%) 0.00 57
    2024-07-01 $193,249 (-22.4%) $370,330 (4.9%) 0.00 72
    2024-08-01 $195,000 (-27.4%) $345,521 (-5.8%) 0.00 72
    2024-09-01 $194,100 (-35.1%) $320,852 (-26.5%) 0.00 72
    2024-10-01 $211,175 (-21.5%) $310,135 (-23.8%) 0.00 70
    Summerville's median listing price for 2024-10-01 was $211,175, a difference of $-57,825 (-21.5%) versus the prior year and $17,075 versus the prior month.

    Summerville's median listing price comes in at 0% of the national average.

    Summerville's average listing price for 2024-10-01 was $310,135, a difference of $-96,573 (-23.8%) versus the prior year and $-10,717 versus the prior month.

    For the 2024-10-01 period, Summerville had 70 MLS listings, a difference of -2 listings (-3%) versus the prior month and 27 listings (63%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Summerville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,548 sqft
    2018-02-01 0 days 1,605 sqft
    2018-03-01 0 days 1,726 sqft
    2018-04-01 0 days 1,671 sqft
    2018-05-01 0 days 1,616 sqft
    2018-06-01 0 days 1,595 sqft
    2018-07-01 0 days 1,512 sqft
    2018-08-01 0 days 1,586 sqft
    2018-09-01 0 days 1,608 sqft
    2018-10-01 0 days 1,562 sqft
    2018-11-01 0 days 1,610 sqft
    2018-12-01 0 days 1,684 sqft
    2019-01-01 0 days 1,780 sqft
    2019-02-01 0 days 1,626 sqft
    2019-03-01 0 days 1,631 sqft
    2019-04-01 0 days 1,641 sqft
    2019-05-01 0 days 1,788 sqft
    2019-06-01 0 days 1,824 sqft
    2019-07-01 0 days 1,809 sqft
    2019-08-01 0 days 1,762 sqft
    2019-09-01 0 days 1,679 sqft
    2019-10-01 0 days 1,527 sqft
    2019-11-01 0 days 1,371 sqft
    2019-12-01 0 days 1,372 sqft
    2020-01-01 0 days 1,458 sqft
    2020-02-01 0 days 1,568 sqft
    2020-03-01 0 days 1,396 sqft
    2020-04-01 0 days 1,378 sqft
    2020-05-01 0 days 1,588 sqft
    2020-06-01 0 days 1,708 sqft
    2020-07-01 0 days 1,663 sqft
    2020-08-01 0 days 1,675 sqft
    2020-09-01 0 days 1,612 sqft
    2020-10-01 0 days 1,514 sqft
    2020-11-01 0 days 1,262 sqft
    2020-12-01 0 days 1,341 sqft
    2021-01-01 0 days 1,299 sqft
    2021-02-01 0 days 1,502 sqft
    2021-03-01 0 days 1,538 sqft
    2021-04-01 0 days 1,874 sqft
    2021-05-01 0 days 1,800 sqft
    2021-06-01 0 days 1,593 sqft
    2021-07-01 0 days 1,698 sqft
    2021-08-01 0 days 1,826 sqft
    2021-09-01 0 days 1,903 sqft
    2021-10-01 0 days 2,119 sqft
    2021-11-01 0 days 2,326 sqft
    2021-12-01 0 days 2,349 sqft
    2022-01-01 0 days 1,979 sqft
    2022-02-01 0 days 1,638 sqft
    2022-03-01 0 days 1,625 sqft
    2022-04-01 0 days 1,710 sqft
    2022-05-01 0 days 1,599 sqft
    2022-06-01 0 days 1,713 sqft
    2022-07-01 0 days 2,095 sqft
    2022-08-01 0 days 2,267 sqft
    2022-09-01 0 days 1,924 sqft
    2022-10-01 0 days 1,884 sqft
    2022-11-01 0 days 1,870 sqft
    2022-12-01 0 days 1,828 sqft
    2023-01-01 0 days 1,757 sqft
    2023-02-01 0 days 1,804 sqft
    2023-03-01 0 days 1,753 sqft
    2023-04-01 0 days 1,568 sqft
    2023-05-01 0 days 1,563 sqft
    2023-06-01 0 days 1,608 sqft
    2023-07-01 0 days 1,545 sqft
    2023-08-01 0 days 1,570 sqft
    2023-09-01 0 days 1,800 sqft
    2023-10-01 0 days 1,891 sqft
    2023-11-01 0 days 1,565 sqft
    2023-12-01 0 days 1,515 sqft
    2024-01-01 0 days 1,820 sqft
    2024-02-01 0 days 1,937 sqft
    2024-03-01 0 days 1,878 sqft
    2024-04-01 0 days 1,591 sqft
    2024-05-01 0 days 1,600 sqft
    2024-06-01 0 days 1,800 sqft
    2024-07-01 0 days 1,633 sqft
    2024-08-01 0 days 1,600 sqft
    2024-09-01 0 days 1,576 sqft
    2024-10-01 0 days 1,600 sqft
    Summerville's median listing age (time on market) for 2024-10-01 was 0 days.

    Summerville's median square footage for active listings during the 2024-10-01 period was 1,600 sqft. One year prior, the average listing was 1,891 sqft.