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 6.96% for the week of 2024-05-17, compared to the national average (all USDA variants) of 6.75% for the same period.

Augusta's average USDA mortgage closing costs are $4,934.

The average rate for the prior week (2024-05-10) was 6.9% and one month ago for the week of 2024-04-12, the average rate was 6.82%.

The average rate one year ago was 6.31%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.75%.

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

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
2024-04-01 $388,500 (-0.4%) $460,901 (-7.5%) 0.00 147
Augusta's median listing price for 2024-04-01 was $388,500, a difference of $-1,499 (-0.4%) versus the prior year and $-11,400 versus the prior month.

Augusta's median listing price comes in at 0% of the national average.

Augusta's average listing price for 2024-04-01 was $460,901, a difference of $-37,491 (-7.5%) versus the prior year and $5,584 versus the prior month.

For the 2024-04-01 period, Augusta had 147 MLS listings, a difference of 13 listings (10%) versus the prior month and 25 listings (20%) 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
2024-04-01 0 days 1,689 sqft
Augusta's median listing age (time on market) for 2024-04-01 was 0 days.

Augusta's median square footage for active listings during the 2024-04-01 period was 1,689 sqft. One year prior, the average listing was 1,775 sqft.