South Carolina USDA Loan Rates, Closing Costs & Stats

South Carolina

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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.

    South Carolina USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in South Carolina averaged 6.6% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.55% and one month ago for the week of 2024-03-15, the average rate was 6.53%.

    The average rate one year ago was 5.97%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.2%.

    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%).