Augusta USDA Loans

Augusta-Waterville, ME

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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.

    Augusta's 22 lenders originated 145 USDA loans during 2021. The total origination value was $26,245,000, with an average USDA loan value of $181,000.

    Augusta USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Augusta averaged 5.44% for the week of 2022-08-05, compared to the national average (all USDA variants) of 5.294% for the same period.

    The average rate for the prior week (2022-07-29) was 5.66% and one month ago for the week of 2022-07-01, the average rate was 5.39%.

    The average rate one year ago was 2.98%.

    For refis of the same type during the week of 2022-08-05, the average rate was 5%.

    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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Augusta level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    RESIDENTIAL MORTGAGE SERVICES, INC. 41 2.81% $5,415
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 18 2.99% $5,436
    DAS Acquisition Company, LLC 11 2.91% $5,469
    Bangor Savings Bank 8 2.83% $5,091
    The Camden National Bank 8 2.84% $4,713
    CMG MORTGAGE, INC. 8 2.77% $5,685
    CUSO MORTGAGE CORPORATION 7 2.89% $4,990
    EMBRACE HOME LOANS, INC. 7 2.82% $6,166
    NORTHPOINT MORTGAGE, INC. 6 2.98% $6,233
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 4 3.34% $5,341
    University Credit Union 3 2.88% $4,671
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.44% $6,088
    GUILD MORTGAGE COMPANY 2 3.19% $5,039
    Mortgage Network, Inc. 2 2.88% $5,621
    LEADERONE FINANCIAL CORPORATION 1 3.00% $4,452
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.50% $6,003
    ACADEMY MORTGAGE CORPORATION 1 3.25% $5,451
    MEGASTAR FINANCIAL CORP. 1 2.88% $5,104
    Norway Savings Bank 1 2.88% $4,469
    NORWICH COMMERCIAL GROUP, INC. 1 2.75% $4,343
    TOTAL MORTGAGE SERVICES, LLC 1 2.75% $8,718
    UNITED WHOLESALE MORTGAGE, LLC 1 3.00% $4,935

    The top Augusta USDA lender as defined by loan originations is RESIDENTIAL MORTGAGE SERVICES, INC., with 41 USDA loans originated. Their average total fees are $5,415, which is $21 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Augusta USDA lenders (with over 10 loans originated) are RESIDENTIAL MORTGAGE SERVICES, INC. ($5,415), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,436), DAS Acquisition Company, LLC ($5,469), .

    The lowest rate Augusta USDA lenders (with over 10 loans originated) are RESIDENTIAL MORTGAGE SERVICES, INC. (2.81%), DAS Acquisition Company, LLC (2.91%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (2.99%), .