Augusta USDA Loan Rates, Closing Costs & Stats
Augusta-Waterville, ME
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.
Augusta's 13 lenders originated 53 USDA loans during 2023. The total origination value was $10,835,000, with an average USDA loan value of $204,434.
Augusta USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Augusta
averaged
6.95%
for the week of 2024-04-26, compared to the national average (all USDA variants) of
6.838% for the same period.
Augusta's average USDA mortgage closing costs are $4,934.
The average rate for the prior week (2024-04-19) was
7.07% and
one month ago for the week of 2024-03-22, the
average rate was 6.87%.
The average rate one year ago was 6.19%.
For refis of the same type during the week of 2024-04-26, the average rate
was 6.74%.
Augusta 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 Augusta level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 10 | 5.72% | $6,212 |
| Bangor Savings Bank | 9 | 5.49% | $5,071 |
| GUILD MORTGAGE COMPANY | 9 | 5.44% | $6,149 |
| CUSO MORTGAGE CORPORATION | 3 | 5.42% | $5,216 |
| NORTHPOINT MORTGAGE, INC. | 3 | 5.32% | $6,851 |
| CMG MORTGAGE, INC. | 2 | 7.13% | $8,215 |
| University Credit Union | 1 | 4.95% | $5,292 |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | 1 | 6.50% | $9,247 |
| Norway Savings Bank | 1 | 5.95% | $5,053 |
| The Camden National Bank | 1 | 5.50% | $4,334 |
| TOTAL MORTGAGE SERVICES, LLC | 1 | 5.50% | $6,507 |
| Citizens Bank | 1 | 6.25% | $9,603 |
| DAS Acquisition Company, LLC | 1 | 4.95% | $6,208 |
The top Augusta USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
10 USDA loans originated. Their average total fees are
$6,212, which is $1,141
higher than the next largest lender,
Bangor Savings Bank.
The lowest fee Augusta USDA lenders (with over 10 loans originated) are
FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,212), .
The lowest rate Augusta USDA lenders (with over 10 loans originated) are
FAIRWAY INDEPENDENT MORTGAGE CORPORATION (5.72%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Augusta (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 | $179,450 (10.1%) | $239,658 (15.1%) | 0.00 | 554 |
| 2018-02-01 | $179,900 (8.1%) | $246,339 (17.5%) | 0.00 | 520 |
| 2018-03-01 | $194,900 (13.8%) | $254,778 (19.9%) | 0.00 | 503 |
| 2018-04-01 | $204,975 (13.9%) | $256,095 (14.9%) | 0.00 | 512 |
| 2018-05-01 | $215,950 (14.0%) | $259,893 (10.1%) | 0.00 | 593 |
| 2018-06-01 | $219,000 (12.9%) | $264,993 (10.4%) | 0.00 | 698 |
| 2018-07-01 | $215,000 (10.7%) | $265,841 (10.3%) | 0.00 | 740 |
| 2018-08-01 | $217,100 (14.6%) | $264,905 (12.9%) | 0.00 | 755 |
| 2018-09-01 | $214,998 (13.8%) | $262,348 (12.4%) | 0.00 | 763 |
| 2018-10-01 | $213,975 (12.8%) | $261,808 (10.8%) | 0.00 | 729 |
| 2018-11-01 | $214,400 (13.2%) | $263,824 (11.9%) | 0.00 | 659 |
| 2018-12-01 | $199,950 (8.1%) | $258,314 (9.5%) | 0.00 | 578 |
| 2019-01-01 | $206,000 (14.8%) | $253,702 (5.9%) | 0.00 | 521 |
| 2019-02-01 | $209,317 (16.4%) | $255,893 (3.9%) | 0.00 | 474 |
| 2019-03-01 | $213,869 (9.7%) | $263,580 (3.5%) | 0.00 | 446 |
| 2019-04-01 | $222,500 (8.6%) | $273,077 (6.6%) | 0.00 | 431 |
| 2019-05-01 | $233,500 (8.1%) | $276,772 (6.5%) | 0.00 | 507 |
| 2019-06-01 | $235,000 (7.3%) | $279,831 (5.6%) | 0.00 | 576 |
| 2019-07-01 | $239,675 (11.5%) | $285,027 (7.2%) | 0.00 | 614 |
| 2019-08-01 | $234,145 (7.9%) | $283,939 (7.2%) | 0.00 | 599 |
| 2019-09-01 | $226,189 (5.2%) | $283,062 (7.9%) | 0.00 | 581 |
| 2019-10-01 | $220,884 (3.2%) | $282,795 (8.0%) | 0.00 | 564 |
| 2019-11-01 | $219,000 (2.2%) | $278,054 (5.4%) | 0.00 | 527 |
| 2019-12-01 | $211,000 (5.5%) | $273,483 (5.9%) | 0.00 | 431 |
| 2020-01-01 | $210,500 (2.2%) | $273,408 (7.8%) | 0.00 | 379 |
| 2020-02-01 | $211,000 (0.8%) | $273,880 (7.0%) | 0.00 | 344 |
| 2020-03-01 | $242,450 (13.4%) | $302,395 (14.7%) | 0.00 | 323 |
| 2020-04-01 | $244,925 (10.1%) | $291,589 (6.8%) | 0.00 | 327 |
| 2020-05-01 | $235,000 (0.6%) | $284,975 (3.0%) | 0.00 | 314 |
| 2020-06-01 | $254,250 (8.2%) | $300,109 (7.3%) | 0.00 | 311 |
| 2020-07-01 | $274,975 (14.7%) | $325,044 (14.0%) | 0.00 | 311 |
| 2020-08-01 | $269,000 (14.9%) | $333,622 (17.5%) | 0.00 | 275 |
| 2020-09-01 | $273,950 (21.1%) | $342,894 (21.1%) | 0.00 | 264 |
| 2020-10-01 | $268,500 (21.6%) | $356,256 (26.0%) | 0.00 | 275 |
| 2020-11-01 | $295,000 (34.7%) | $365,457 (31.4%) | 0.00 | 256 |
| 2020-12-01 | $311,250 (47.5%) | $379,004 (38.6%) | 0.00 | 217 |
| 2021-01-01 | $319,900 (52.0%) | $389,834 (42.6%) | 0.00 | 174 |
| 2021-02-01 | $304,950 (44.5%) | $396,506 (44.8%) | 0.00 | 143 |
| 2021-03-01 | $310,000 (27.9%) | $380,113 (25.7%) | 0.00 | 126 |
| 2021-04-01 | $285,972 (16.8%) | $396,737 (36.1%) | 0.00 | 128 |
| 2021-05-01 | $319,950 (36.2%) | $392,457 (37.7%) | 0.00 | 147 |
| 2021-06-01 | $320,000 (25.9%) | $381,601 (27.2%) | 0.00 | 204 |
| 2021-07-01 | $295,000 (7.3%) | $360,006 (10.8%) | 0.00 | 253 |
| 2021-08-01 | $295,000 (9.7%) | $367,449 (10.1%) | 0.00 | 279 |
| 2021-09-01 | $284,450 (3.8%) | $367,284 (7.1%) | 0.00 | 274 |
| 2021-10-01 | $279,450 (4.1%) | $367,501 (3.2%) | 0.00 | 239 |
| 2021-11-01 | $287,000 (-2.7%) | $393,810 (7.8%) | 0.00 | 185 |
| 2021-12-01 | $292,000 (-6.2%) | $388,344 (2.5%) | 0.00 | 166 |
| 2022-01-01 | $299,000 (-6.5%) | $407,748 (4.6%) | 0.00 | 113 |
| 2022-02-01 | $315,000 (3.3%) | $408,056 (2.9%) | 0.00 | 89 |
| 2022-03-01 | $330,000 (6.5%) | $444,928 (17.1%) | 0.00 | 94 |
| 2022-04-01 | $320,000 (11.9%) | $448,191 (13.0%) | 0.00 | 100 |
| 2022-05-01 | $318,725 (-0.4%) | $441,762 (12.6%) | 0.00 | 123 |
| 2022-06-01 | $328,725 (2.7%) | $443,603 (16.3%) | 0.00 | 178 |
| 2022-07-01 | $349,000 (18.3%) | $452,611 (25.7%) | 0.00 | 251 |
| 2022-08-01 | $349,000 (18.3%) | $452,748 (23.2%) | 0.00 | 248 |
| 2022-09-01 | $344,000 (20.9%) | $431,094 (17.4%) | 0.00 | 239 |
| 2022-10-01 | $347,000 (24.2%) | $434,065 (18.1%) | 0.00 | 249 |
| 2022-11-01 | $339,000 (18.1%) | $434,793 (10.4%) | 0.00 | 242 |
| 2022-12-01 | $340,000 (16.4%) | $439,965 (13.3%) | 0.00 | 210 |
| 2023-01-01 | $320,000 (7.0%) | $413,728 (1.5%) | 0.00 | 162 |
| 2023-02-01 | $339,725 (7.9%) | $417,754 (2.4%) | 0.00 | 126 |
| 2023-03-01 | $375,000 (13.6%) | $466,912 (4.9%) | 0.00 | 117 |
| 2023-04-01 | $389,999 (21.9%) | $498,392 (11.2%) | 0.00 | 122 |
| 2023-05-01 | $410,925 (28.9%) | $524,725 (18.8%) | 0.00 | 131 |
| 2023-06-01 | $418,725 (27.4%) | $547,502 (23.4%) | 0.00 | 152 |
| 2023-07-01 | $399,900 (14.6%) | $530,844 (17.3%) | 0.00 | 196 |
| 2023-08-01 | $402,175 (15.2%) | $521,997 (15.3%) | 0.00 | 223 |
| 2023-09-01 | $399,000 (16.0%) | $517,683 (20.1%) | 0.00 | 232 |
| 2023-10-01 | $386,250 (11.3%) | $484,244 (11.6%) | 0.00 | 234 |
| 2023-11-01 | $375,000 (10.6%) | $461,642 (6.2%) | 0.00 | 228 |
| 2023-12-01 | $385,000 (13.2%) | $470,631 (7.0%) | 0.00 | 204 |
| 2024-01-01 | $395,000 (23.4%) | $462,231 (11.7%) | 0.00 | 174 |
| 2024-02-01 | $394,000 (16.0%) | $439,392 (5.2%) | 0.00 | 154 |
| 2024-03-01 | $399,900 (6.6%) | $455,317 (-2.5%) | 0.00 | 134 |
Augusta's median listing price comes in at 0% of the national average.
Augusta's average listing price for 2024-03-01 was $455,317, a difference of $-11,595 (-2.5%) versus the prior year and $15,925 versus the prior month.
For the 2024-03-01 period, Augusta had 134 MLS listings, a difference of -20 listings (-13%) versus the prior month and 17 listings (15%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Augusta (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,678 sqft |
| 2018-02-01 | 0 days | 1,683 sqft |
| 2018-03-01 | 0 days | 1,704 sqft |
| 2018-04-01 | 0 days | 1,733 sqft |
| 2018-05-01 | 0 days | 1,734 sqft |
| 2018-06-01 | 0 days | 1,750 sqft |
| 2018-07-01 | 0 days | 1,793 sqft |
| 2018-08-01 | 0 days | 1,791 sqft |
| 2018-09-01 | 0 days | 1,800 sqft |
| 2018-10-01 | 0 days | 1,800 sqft |
| 2018-11-01 | 0 days | 1,800 sqft |
| 2018-12-01 | 0 days | 1,792 sqft |
| 2019-01-01 | 0 days | 1,796 sqft |
| 2019-02-01 | 0 days | 1,812 sqft |
| 2019-03-01 | 0 days | 1,800 sqft |
| 2019-04-01 | 0 days | 1,800 sqft |
| 2019-05-01 | 0 days | 1,800 sqft |
| 2019-06-01 | 0 days | 1,785 sqft |
| 2019-07-01 | 0 days | 1,795 sqft |
| 2019-08-01 | 0 days | 1,786 sqft |
| 2019-09-01 | 0 days | 1,774 sqft |
| 2019-10-01 | 0 days | 1,765 sqft |
| 2019-11-01 | 0 days | 1,782 sqft |
| 2019-12-01 | 0 days | 1,746 sqft |
| 2020-01-01 | 0 days | 1,726 sqft |
| 2020-02-01 | 0 days | 1,727 sqft |
| 2020-03-01 | 0 days | 1,792 sqft |
| 2020-04-01 | 0 days | 1,742 sqft |
| 2020-05-01 | 0 days | 1,677 sqft |
| 2020-06-01 | 0 days | 1,716 sqft |
| 2020-07-01 | 0 days | 1,800 sqft |
| 2020-08-01 | 0 days | 1,855 sqft |
| 2020-09-01 | 0 days | 1,850 sqft |
| 2020-10-01 | 0 days | 1,860 sqft |
| 2020-11-01 | 0 days | 1,853 sqft |
| 2020-12-01 | 0 days | 1,812 sqft |
| 2021-01-01 | 0 days | 1,786 sqft |
| 2021-02-01 | 0 days | 1,768 sqft |
| 2021-03-01 | 0 days | 1,786 sqft |
| 2021-04-01 | 0 days | 1,717 sqft |
| 2021-05-01 | 0 days | 1,657 sqft |
| 2021-06-01 | 0 days | 1,672 sqft |
| 2021-07-01 | 0 days | 1,600 sqft |
| 2021-08-01 | 0 days | 1,632 sqft |
| 2021-09-01 | 0 days | 1,597 sqft |
| 2021-10-01 | 0 days | 1,565 sqft |
| 2021-11-01 | 0 days | 1,563 sqft |
| 2021-12-01 | 0 days | 1,599 sqft |
| 2022-01-01 | 0 days | 1,594 sqft |
| 2022-02-01 | 0 days | 1,645 sqft |
| 2022-03-01 | 0 days | 1,653 sqft |
| 2022-04-01 | 0 days | 1,676 sqft |
| 2022-05-01 | 0 days | 1,696 sqft |
| 2022-06-01 | 0 days | 1,741 sqft |
| 2022-07-01 | 0 days | 1,764 sqft |
| 2022-08-01 | 0 days | 1,781 sqft |
| 2022-09-01 | 0 days | 1,755 sqft |
| 2022-10-01 | 0 days | 1,759 sqft |
| 2022-11-01 | 0 days | 1,727 sqft |
| 2022-12-01 | 0 days | 1,718 sqft |
| 2023-01-01 | 0 days | 1,702 sqft |
| 2023-02-01 | 0 days | 1,734 sqft |
| 2023-03-01 | 0 days | 1,755 sqft |
| 2023-04-01 | 0 days | 1,775 sqft |
| 2023-05-01 | 0 days | 1,788 sqft |
| 2023-06-01 | 0 days | 1,828 sqft |
| 2023-07-01 | 0 days | 1,728 sqft |
| 2023-08-01 | 0 days | 1,711 sqft |
| 2023-09-01 | 0 days | 1,704 sqft |
| 2023-10-01 | 0 days | 1,628 sqft |
| 2023-11-01 | 0 days | 1,709 sqft |
| 2023-12-01 | 0 days | 1,786 sqft |
| 2024-01-01 | 0 days | 1,741 sqft |
| 2024-02-01 | 0 days | 1,707 sqft |
| 2024-03-01 | 0 days | 1,632 sqft |
Augusta's median square footage for active listings during the 2024-03-01 period was 1,632 sqft. One year prior, the average listing was 1,755 sqft.