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 6.42% for the week of 2024-05-10, compared to the national average (all USDA variants) of 6.785% for the same period.

South Carolina's average USDA mortgage closing costs are $5,442.

The average rate for the prior week (2024-05-03) was 6.51% and one month ago for the week of 2024-04-05, the average rate was 6.26%.

The average rate one year ago was 6.15%.

For refis of the same type during the week of 2024-05-10, the average rate was 7.12%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 60 6.70% $7,647
DHI MORTGAGE COMPANY, LTD. 52 5.20% $5,559
GUILD MORTGAGE COMPANY 49 6.70% $8,032
MOVEMENT MORTGAGE, LLC 40 6.58% $8,909
Sierra Pacific Mortgage Company, Inc. 32 5.89% $9,363
PRIMELENDING, A PLAINSCAPITAL COMPANY 32 6.37% $9,476
CARDINAL FINANCIAL 31 6.18% $7,368
CROSSCOUNTRY MORTGAGE, LLC 29 6.42% $8,869
UNITED WHOLESALE MORTGAGE, LLC 28 6.14% $9,723
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 25 6.61% $8,048
ARK-LA-TEX FINANCIAL SERVICES, LLC. 23 6.51% $6,188
Alcova Mortgage LLC 21 6.98% $3,185
Ameris Bank 16 6.22% $8,838
GUARANTEED RATE, INC. 14 6.41% $6,806
NVR Mortgage Finance, Inc. 13 6.00% $10,169
Magnolia Bank 12 6.42% $8,014
Renasant Bank 12 6.41% $7,366
UNION HOME MORTGAGE CORP. 10 6.89% $7,855
EAGLE HOME MORTGAGE, LLC 10 6.43% $10,026
First Palmetto Bank 10 6.61% $6,483
FBC MORTGAGE, LLC 9 5.50% $7,153
HOMESIDE FINANCIAL, LLC 9 6.60% $7,985
ACOPIA, LLC 9 6.15% $9,037
AMERICAN PACIFIC MORTGAGE CORPORATION 9 5.93% $10,819
RESOURCE FINANCIAL SERVICES, INC. 9 6.51% $6,328
ON Q FINANCIAL, INC. 9 6.80% $7,575
PRIMARY RESIDENTIAL MORTGAGE, INC. 8 6.70% $8,765
First Reliance Bank 8 6.41% $5,899
NEWREZ LLC 8 6.77% $7,085
BROKER SOLUTIONS, INC. 7 6.25% $8,769
HOMESTAR FINANCIAL CORPORATION 7 7.11% $4,432
GSF Mortgage Corporation 7 6.34% $7,872
Paramount Residential Mortgage Group, Inc. 7 6.46% $6,336
SUN WEST MORTGAGE COMPANY, INC. 7 6.30% $7,815
CMG MORTGAGE, INC. 6 6.33% $9,419
SOUTHPOINT FINANCIAL SERVICES, INC. 6 6.85% $4,708
MORTGAGE INVESTORS GROUP, INC. 6 6.71% $7,608
Century Mortgage Company DBA Century Lending Company 6 5.73% $9,245
INSPIRE HOME LOANS INC. 6 6.21% $8,563
Assurance Financial Group, L.L.C. 6 6.87% $7,098
MID AMERICA MORTGAGE, INC. 5 6.50% $4,152
American Security Mortgage Corp. 5 5.95% $6,446
Truist 5 5.78% $6,389
THRIVE MORTGAGE, LLC 5 6.28% $9,828
Princeton Mortgage Corporation 5 6.67% $6,254
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 6.78% $9,290
Flagstar Bank, FSB 5 6.50% $6,863
VANDERBILT MORTGAGE AND FINANCE, INC. 4 6.38% $6,588
Southern First Bank 4 6.38% $5,809
First Heritage Mortgage, LLC 4 6.37% $11,870
Mortgage Research Center, LLC 4 6.31% $5,346
CHURCHILL MORTGAGE CORPORATION 4 6.50% $6,974
MIDLAND MORTGAGE CORPORATION 4 6.44% $5,020
South State Bank 4 6.09% $9,977
TOWNE MORTGAGE COMPANY 4 6.12% $6,483
Trustmark National Bank 4 6.75% $7,102
NORWICH COMMERCIAL GROUP, INC. 4 7.19% $5,611
First Federal Bank 3 6.38% $7,064
American Mortgage & Equity Consultants, Inc. 3 6.04% $9,546
Atlantic Coast Mortgage, LLC 3 6.46% $8,853
Bank of England 3 6.54% $6,880
Countybank 3 6.67% $5,552
EQUITY RESOURCES, INC. 3 7.04% $4,887
First-Citizens Bank & Trust Company 3 5.88% $5,653
Gateway First Bank 3 6.33% $8,763
LOANDEPOT.COM, LLC 3 6.08% $10,815
Network Funding, L.P. 3 6.33% $7,842
SeaTrust Mortgage Company 3 7.38% $10,604
Synovus Bank 3 5.88% $7,846
T2 FINANCIAL LLC 3 6.21% $12,228
LEADERONE FINANCIAL CORPORATION 2 5.94% $11,977
Neighborhood Loans, Inc. 2 7.38% $8,036
United Community Bank 2 6.38% $6,498
CALCON MUTUAL MORTGAGE LLC 2 6.44% $10,664
Regions Bank 2 6.75% $6,901
DELMAR FINANCIAL COMPANY 2 6.88% $6,379
GENEVA FINANCIAL, LLC 2 7.31% $13,776
PLAZA HOME MORTGAGE, INC. 2 6.88% $8,632
Equity Prime Mortgage LLC 2 6.31% $9,355
INTERLINC MORTGAGE SERVICES, LLC 2 6.50% $4,909
BAY EQUITY LLC 2 6.88% $7,233
1ST SIGNATURE LENDING, LLC 2 6.50% $13,424
First Community Bank 2 7.06% $6,482
Servion, Inc. 2 5.75% $6,550
FREEDOM MORTGAGE CORPORATION 2 6.88% $7,027
HOWARD HANNA FINANCIAL SERVICES, INC. 2 6.75% $6,129
GUARANTEED RATE AFFINITY, LLC 2 6.46% $6,491
Encompass Lending Group, LP 1 6.75% $8,295
DIRECT MORTGAGE LOANS, LLC 1 7.49% $5,684
Prosperity Home Mortgage, LLC 1 6.13% $9,122
Queensborough National Bank & Trust Company 1 6.13% $8,527
RANLIFE, INC. 1 6.13% $12,468
RAPID MORTGAGE COMPANY 1 7.00% $8,284
DAS Acquisition Company, LLC 1 6.63% $10,157
ROYAL UNITED MORTGAGE LLC 1 7.13% $6,726
RUOFF MORTGAGE COMPANY, INC. 1 7.25% $3,767
Uwharrie Bank 1 6.25% $9,673
Security Federal Bank 1 5.88% $12,587
CONTOUR MORTGAGE CORPORATION 1 6.63% $11,034
Colony Bank 1 6.13% $10,924
Citizens Bank 1 5.88% $5,604
CBM Mortgage, Inc. 1 6.13% $6,907
ACADEMY MORTGAGE CORPORATION 1 6.88% $12,269
Wells Fargo Bank 1 5.25% $4,436
BOKF 1 6.63% $6,403
TJC Mortgage, Inc. 1 6.00% $14,168
Blue Ridge Bank 1 6.88% $8,360
BANKSOUTH MORTGAGE COMPANY, LLC 1 6.13% $5,969
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.75% $8,223
HALLMARK HOME MORTGAGE, LLC 1 5.75% $8,267
HomeTrust Bank 1 5.50% $6,313
BAYSHORE MORTGAGE FUNDING, LLC 1 7.13% $6,106
KELLER MORTGAGE, LLC 1 5.13% $7,116
Keystone Funding, Inc. 1 6.99% $8,155
LIBERTY HOME MORTGAGE CORPORATION 1 6.25% $2,259
FIRST INTEGRITY MORTGAGE SERVICES, INC. 1 7.25% $3,167
First Horizon Bank 1 6.13% $6,379
FIRST HOME MORTGAGE CORPORATION 1 6.13% $9,330
MUTUAL OF OMAHA MORTGAGE, INC. 1 5.63% $10,051
Nations Lending Corporation 1 6.50% $2,832
AMERICAN FINANCIAL NETWORK, INC. 1 6.50% $13,782
FIRST COMMUNITY MORTGAGE, INC. 1 6.38% $8,024
NFM, INC. 1 7.13% $8,761
FIRST CHOICE MORTGAGE, INC. 1 6.25% $12,837
Fifth Third Bank 1 6.50% $6,734
OPEN MORTGAGE, LLC 1 7.13% $10,991
EVERETT FINANCIAL, INC. 1 6.50% $13,237
Plains Commerce Bank 1 5.63% $12,522

The top South Carolina USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 60 USDA loans originated. Their average total fees are $7,647, which is $2,088 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee South Carolina USDA lenders (with over 10 loans originated) are Alcova Mortgage LLC ($3,185), DHI MORTGAGE COMPANY, LTD. ($5,559), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($6,188), First Palmetto Bank ($6,483) and GUARANTEED RATE, INC. ($6,806).

The lowest rate South Carolina USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.20%), Sierra Pacific Mortgage Company, Inc. (5.89%), NVR Mortgage Finance, Inc. (6.00%), UNITED WHOLESALE MORTGAGE, LLC (6.14%) and CARDINAL FINANCIAL (6.18%).