South Carolina USDA Loan Rates, Closing Costs & Stats

South Carolina

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.

South Carolina USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in South Carolina averaged 6.38% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

South Carolina's average USDA mortgage closing costs are $5,306.

The average rate for the prior week (2023-05-19) was 5.92% and one month ago for the week of 2023-04-21, the average rate was 5.73%.

The average rate one year ago was 4.75%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.05%.

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

South Carolina 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 South Carolina level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
GUILD MORTGAGE COMPANY 92 4.65% $7,763
MOVEMENT MORTGAGE, LLC 78 4.87% $7,369
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 73 4.79% $6,877
PRIMELENDING, A PLAINSCAPITAL COMPANY 63 4.78% $8,130
ARK-LA-TEX FINANCIAL SERVICES, LLC. 53 4.79% $6,925
UNITED WHOLESALE MORTGAGE, LLC 50 5.13% $7,577
Alcova Mortgage LLC 37 5.15% $5,197
DHI MORTGAGE COMPANY, LTD. 36 3.79% $5,994
Flagstar Bank, FSB 34 4.37% $6,314
Magnolia Bank 34 4.66% $6,809
NVR Mortgage Finance, Inc. 29 3.89% $8,806
CROSSCOUNTRY MORTGAGE, LLC 29 5.29% $7,980
Ameris Bank 28 4.79% $6,702
ON Q FINANCIAL, INC. 28 4.74% $6,107
Sierra Pacific Mortgage Company, Inc. 27 4.31% $7,049
CARDINAL FINANCIAL 27 4.82% $8,441
FINANCE OF AMERICA MORTGAGE LLC 24 4.39% $7,105
HOME POINT FINANCIAL CORPORATION 24 3.56% $5,892
HOMESTAR FINANCIAL CORPORATION 22 4.83% $4,177
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 22 4.69% $8,233
Renasant Bank 21 4.05% $9,346
CALIBER HOME LOANS, INC. 21 4.45% $6,770
ACOPIA, LLC 20 4.64% $6,933
VANDERBILT MORTGAGE AND FINANCE, INC. 20 4.33% $8,645
PENNYMAC LOAN SERVICES, LLC 19 3.18% $5,725
MIDLAND MORTGAGE CORPORATION 12 4.33% $2,546
Gateway First Bank 12 4.48% $6,139
INSPIRE HOME LOANS INC. 12 4.93% $7,853
CMG MORTGAGE, INC. 11 4.65% $7,160
First Community Bank 11 4.89% $7,937
HANCOCK MORTGAGE PARTNERS, LLC 11 4.86% $7,329
Carrington Mortgage Services, LLC 11 4.81% $9,506
Paramount Residential Mortgage Group, Inc. 11 4.55% $7,686
South State Bank 10 4.09% $7,176
BROKER SOLUTIONS, INC. 10 4.69% $6,890
BANKSOUTH MORTGAGE COMPANY, LLC 10 3.79% $7,988
GUARANTEED RATE AFFINITY, LLC 9 4.85% $7,107
Security Federal Bank 9 3.68% $6,559
SUCCESS MORTGAGE PARTNERS, INC. 9 4.19% $7,053
PRIMARY RESIDENTIAL MORTGAGE, INC. 9 5.28% $6,772
GUARANTEED RATE, INC. 9 4.39% $6,764
LOANDEPOT.COM, LLC 8 4.84% $7,311
United Community Bank 8 4.28% $6,516
SOUTHPOINT FINANCIAL SERVICES, INC. 8 4.91% $5,328
GUARANTY HOME MORTGAGE CORPORATION 8 4.22% $7,247
SOUTHWEST FUNDING, LP 8 5.52% $9,727
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 8 5.16% $7,314
PLAZA HOME MORTGAGE, INC. 8 5.19% $7,299
AMERICAN PACIFIC MORTGAGE CORPORATION 8 5.30% $8,581
First Reliance Bank 8 3.80% $5,240
First Heritage Mortgage, LLC 8 4.06% $8,511
RESOURCE FINANCIAL SERVICES, INC. 7 4.57% $7,126
INTERLINC MORTGAGE SERVICES, LLC 7 4.32% $6,059
American Security Mortgage Corp. 7 4.66% $6,260
UNION HOME MORTGAGE CORP. 7 4.54% $6,137
APEX HOME LOANS, INC. 7 3.48% $7,937
THRIVE MORTGAGE, LLC 7 4.86% $8,287
CERTAINTY HOME LOANS, LLC 7 4.04% $8,456
EAGLE HOME MORTGAGE, LLC 7 4.64% $9,570
Equity Prime Mortgage LLC 7 4.75% $6,796
First-Citizens Bank & Trust Company 7 3.98% $5,778
First Palmetto Bank 7 4.91% $5,734
Mortgage Research Center, LLC 7 5.85% $4,586
HOMEBRIDGE FINANCIAL SERVICES, INC. 7 4.52% $8,751
Allen Tate Mortgage Partners, LLC 6 4.46% $6,705
EQUITY RESOURCES, INC. 6 4.23% $6,655
TOWNE MORTGAGE COMPANY 6 3.66% $7,493
SeaTrust Mortgage Company 6 5.23% $7,790
Assurance Financial Group, L.L.C. 6 4.73% $5,714
FREEDOM MORTGAGE CORPORATION 6 4.23% $6,747
SOUTHERN TRUST MORTGAGE, LLC 5 4.23% $6,775
TJC Mortgage, Inc. 5 4.30% $8,844
NTFN, INC. 5 4.90% $7,340
HOMESIDE FINANCIAL, LLC 5 3.95% $7,105
Countybank 5 4.07% $5,223
HomeTrust Bank 5 4.40% $4,649
CORNERSTONE HOME LENDING, INC. 4 3.75% $6,162
Bank of England 4 4.84% $7,642
CHURCHILL MORTGAGE CORPORATION 4 5.16% $7,833
CONTOUR MORTGAGE CORPORATION 4 5.13% $7,748
First Federal Bank 4 5.09% $5,302
First Guaranty Mortgage Corporation 4 3.69% $6,444
Trustmark National Bank 4 5.34% $4,489
Mortgage Network, Inc. 3 4.50% $6,363
CRESCENT MORTGAGE COMPANY 3 4.58% $6,378
Hometown Equity Mortgage, LLC 3 4.75% $5,524
C & F Mortgage Corporation 3 5.29% $6,232
GENEVA FINANCIAL, LLC 3 4.33% $6,229
SUMMIT FUNDING, INC. 3 5.50% $10,897
Blue Ridge Bank 3 5.38% $6,761
TIDEWATER MORTGAGE SERVICES, INC. 3 3.21% $5,158
MID AMERICA MORTGAGE, INC. 3 4.96% $3,863
LAKEVIEW LOAN SERVICING, LLC 3 3.21% $3,393
Truist 3 4.08% $7,120
Amerifirst Financial, Inc. 3 3.75% $5,898
AMERICAN FINANCIAL RESOURCES, INC. 3 5.25% $8,260
Network Funding, L.P. 3 4.13% $6,735
Hometown Lenders, Inc. 3 4.38% $10,238
United Bank 2 4.31% $5,106
Queensborough National Bank & Trust Company 2 4.88% $5,805
LEADERONE FINANCIAL CORPORATION 2 5.25% $6,651
Regions Bank 2 5.00% $5,394
1ST PREFERENCE MORTGAGE CORP. 2 3.50% $7,914
First Savings Bank 2 3.81% $7,502
HOMEOWNERS FINANCIAL GROUP USA, LLC 2 5.56% $9,706
Colony Bank 2 5.63% $9,442
Princeton Mortgage Corporation 2 5.00% $5,702
Century Mortgage Company DBA Century Lending Company 2 4.81% $5,610
Wyndham Capital Mortgage, Inc. 2 4.88% $7,762
CALCON MUTUAL MORTGAGE LLC 2 4.75% $7,221
MORTGAGE INVESTORS GROUP, INC. 2 6.44% $5,454
T2 FINANCIAL LLC 2 3.44% $7,536
TD Bank 2 3.94% $3,850
THE MORTGAGE FIRM, INC. 2 5.13% $5,860
Fifth Third Bank 2 6.00% $4,848
VAN DYK MORTGAGE CORPORATION 1 4.25% $12,128
Waterstone Mortgage Corporation 1 5.63% $5,010
Integrity Home Mortgage Corp 1 5.25% $6,644
RAPID MORTGAGE COMPANY 1 6.13% $8,268
LIBERTY HOME MORTGAGE CORPORATION 1 4.75% $6,002
MCLEAN MORTGAGE CORPORATION 1 5.63% $5,745
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.00% $9,418
GSF Mortgage Corporation 1 6.63% $8,327
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 4.13% $4,332
MUTUAL OF OMAHA MORTGAGE, INC. 1 4.75% $7,106
NATION ONE MORTGAGE CORPORATION 1 5.13% $10,828
Nations Lending Corporation 1 4.75% $13,734
First Home Bank 1 5.63% $7,040
OCEANSIDE MORTGAGE COMPANY 1 3.88% $1,711
OCMBC, INC. 1 5.13% $7,216
FIRST ALLIANCE HOME MORTGAGE, LLC 1 5.50% $8,058
Palmetto Citizens Federal Credit Union 1 2.75% $6,217
FBC MORTGAGE, LLC 1 5.25% $10,077
ENVOY MORTGAGE, LTD 1 7.00% $8,130
PREMIER MORTGAGE RESOURCES, L.L.C. 1 4.63% $5,184
Encompass Lending Group, LP 1 4.50% $22,489
DIRECT MORTGAGE LOANS, LLC 1 4.00% $6,052
Prosperity Home Mortgage, LLC 1 4.63% $3,780
DAS Acquisition Company, LLC 1 4.63% $6,967
Cornerstone First Mortgage, Inc 1 4.75% $8,851
Colten Mortgage, LLC 1 2.75% $6,929
CASTLE & COOKE MORTGAGE, LLC 1 3.75% $6,950
The Park National Bank 1 6.13% $5,556
Austin Capital Bank SSB 1 4.00% $7,913
TOP FLITE FINANCIAL, INC. 1 6.63% $9,645
ANGEL OAK HOME LOANS LLC 1 2.88% $6,350
UNITED MORTGAGE CORP. 1 3.38% $5,041
Alpha Mortgage Corporation 1 5.88% $4,271
Uwharrie Bank 1 5.13% $7,762
ABSOLUTE HOME MORTGAGE CORPORATION 1 3.75% $8,256

The top South Carolina USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 92 USDA loans originated. Their average total fees are $7,763, which is $394 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee South Carolina USDA lenders (with over 10 loans originated) are MIDLAND MORTGAGE CORPORATION ($2,546), HOMESTAR FINANCIAL CORPORATION ($4,177), Alcova Mortgage LLC ($5,197), PENNYMAC LOAN SERVICES, LLC ($5,725) and HOME POINT FINANCIAL CORPORATION ($5,892).

The lowest rate South Carolina USDA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.18%), HOME POINT FINANCIAL CORPORATION (3.56%), BANKSOUTH MORTGAGE COMPANY, LLC (3.79%), DHI MORTGAGE COMPANY, LTD. (3.79%) and NVR Mortgage Finance, Inc. (3.89%).