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 6.75% for the week of 2023-12-01, compared to the national average (all USDA variants) of 6.997% for the same period.

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

    The average rate for the prior week (2023-11-24) was 6.85% and one month ago for the week of 2023-10-27, the average rate was 7.2%.

    The average rate one year ago was 6.12%.

    For refis of the same type during the week of 2023-12-01, the average rate was 5.72%.

    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%).