Baltimore USDA Loan Rates, Closing Costs & Stats
BALTIMORE-COLUMBIA-TOWSON, MD
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.
Baltimore's 81 lenders originated 353 USDA loans during 2021. The total origination value was $103,125,000, with an average USDA loan value of $292,139.
Baltimore USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Baltimore
averaged
6.3%
for the week of 2023-03-17, compared to the national average (all USDA variants) of
6.497% for the same period.
Baltimore's average USDA mortgage closing costs are $6,996.
The average rate for the prior week (2023-03-10) was
6.61% and
one month ago for the week of 2023-02-10, the
average rate was 6.08%.
The average rate one year ago was 4.07%.
For refis of the same type during the week of 2023-03-17, the average rate
was 6.26%.
Baltimore 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 Baltimore level.
The top Baltimore USDA lender as defined by loan originations is CALIBER HOME LOANS, INC., with
34 USDA loans originated. Their average total fees are
$7,282, which is $83
lower than the next largest lender,
FIRST HOME MORTGAGE CORPORATION.
The lowest fee Baltimore USDA lenders (with over 10 loans originated) are
BAY CAPITAL MORTGAGE CORPORATION ($6,781), Towne Bank ($6,952), Sierra Pacific Mortgage Company, Inc. ($7,124), Prosperity Home Mortgage, LLC ($7,160) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,184).
The lowest rate Baltimore USDA lenders (with over 10 loans originated) are
HOME POINT FINANCIAL CORPORATION (2.53%), Sierra Pacific Mortgage Company, Inc. (2.60%), BAY CAPITAL MORTGAGE CORPORATION (2.61%), Towne Bank (2.68%) and CALIBER HOME LOANS, INC. (2.71%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Baltimore (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $284,950 (5.6%) | $382,651 (5.9%) | 1.06 | 8,233 |
2018-02-01 | $284,900 (4.0%) | $380,624 (3.4%) | 1.03 | 7,955 |
2018-03-01 | $299,900 (3.6%) | $394,101 (3.0%) | 1.05 | 8,628 |
2018-04-01 | $311,945 (4.0%) | $402,555 (0.8%) | 1.06 | 9,342 |
2018-05-01 | $322,500 (6.1%) | $416,986 (3.2%) | 1.08 | 9,955 |
2018-06-01 | $325,000 (6.6%) | $418,590 (2.6%) | 1.08 | 10,252 |
2018-07-01 | $327,250 (7.7%) | $418,063 (3.2%) | 1.09 | 10,544 |
2018-08-01 | $324,200 (8.1%) | $414,502 (1.3%) | 1.09 | 10,639 |
2018-09-01 | $319,000 (6.3%) | $405,127 (-0.7%) | 1.07 | 11,016 |
2018-10-01 | $316,000 (5.4%) | $403,108 (0.1%) | 1.07 | 11,137 |
2018-11-01 | $308,998 (4.9%) | $396,023 (1.1%) | 1.05 | 10,875 |
2018-12-01 | $299,900 (5.2%) | $385,114 (-0.3%) | 1.03 | 9,714 |
2019-01-01 | $299,000 (4.9%) | $382,669 (0.0%) | 1.03 | 8,700 |
2019-02-01 | $299,900 (5.3%) | $389,468 (2.3%) | 1.01 | 8,299 |
2019-03-01 | $312,757 (4.3%) | $409,175 (3.8%) | 1.02 | 8,767 |
2019-04-01 | $329,900 (5.8%) | $428,538 (6.5%) | 1.05 | 9,477 |
2019-05-01 | $337,450 (4.6%) | $432,672 (3.8%) | 1.05 | 10,130 |
2019-06-01 | $339,990 (4.6%) | $435,029 (3.9%) | 1.06 | 10,506 |
2019-07-01 | $337,450 (3.1%) | $431,961 (3.3%) | 1.06 | 10,533 |
2019-08-01 | $332,200 (2.5%) | $426,436 (2.9%) | 1.05 | 10,414 |
2019-09-01 | $328,150 (2.9%) | $422,143 (4.2%) | 1.05 | 10,293 |
2019-10-01 | $324,125 (2.6%) | $417,978 (3.7%) | 1.05 | 10,163 |
2019-11-01 | $319,900 (3.5%) | $415,612 (5.0%) | 1.05 | 9,595 |
2019-12-01 | $302,950 (1.0%) | $407,482 (5.8%) | 1.01 | 8,135 |
2020-01-01 | $305,150 (2.1%) | $407,299 (6.4%) | 1.02 | 7,126 |
2020-02-01 | $317,250 (5.8%) | $417,481 (7.2%) | 1.03 | 6,757 |
2020-03-01 | $325,995 (4.2%) | $428,266 (4.7%) | 1.02 | 6,933 |
2020-04-01 | $325,000 (-1.5%) | $429,181 (0.2%) | 1.02 | 6,682 |
2020-05-01 | $339,999 (0.8%) | $441,658 (2.1%) | 1.03 | 6,704 |
2020-06-01 | $348,250 (2.4%) | $458,844 (5.5%) | 1.02 | 6,232 |
2020-07-01 | $350,000 (3.7%) | $469,345 (8.7%) | 1.01 | 5,498 |
2020-08-01 | $346,000 (4.2%) | $468,719 (9.9%) | 0.99 | 5,047 |
2020-09-01 | $339,869 (3.6%) | $459,243 (8.8%) | 0.97 | 4,988 |
2020-10-01 | $335,000 (3.4%) | $463,115 (10.8%) | 0.96 | 4,960 |
2020-11-01 | $325,000 (1.6%) | $448,734 (8.0%) | 0.95 | 4,625 |
2020-12-01 | $319,950 (5.6%) | $446,860 (9.7%) | 0.95 | 3,957 |
2021-01-01 | $315,000 (3.2%) | $448,578 (10.1%) | 0.94 | 3,322 |
2021-02-01 | $310,000 (-2.3%) | $455,012 (9.0%) | 0.90 | 2,781 |
2021-03-01 | $324,950 (-0.3%) | $451,309 (5.4%) | 0.92 | 2,877 |
2021-04-01 | $329,900 (1.5%) | $453,812 (5.7%) | 0.89 | 3,198 |
2021-05-01 | $349,000 (2.7%) | $469,923 (6.4%) | 0.92 | 3,543 |
2021-06-01 | $339,950 (-2.4%) | $460,507 (0.4%) | 0.89 | 3,997 |
2021-07-01 | $345,000 (-1.4%) | $457,895 (-2.4%) | 0.91 | 4,490 |
2021-08-01 | $334,450 (-3.3%) | $438,577 (-6.4%) | 0.89 | 4,833 |
2021-09-01 | $334,950 (-1.5%) | $438,007 (-4.6%) | 0.89 | 4,853 |
2021-10-01 | $324,900 (-3.0%) | $430,164 (-7.1%) | 0.87 | 4,732 |
2021-11-01 | $314,925 (-3.1%) | $423,845 (-5.6%) | 0.84 | 4,214 |
2021-12-01 | $309,900 (-3.1%) | $424,768 (-4.9%) | 0.84 | 3,500 |
2022-01-01 | $295,000 (-6.4%) | $423,368 (-5.6%) | 0.80 | 2,865 |
2022-02-01 | $299,950 (-3.2%) | $429,651 (-5.6%) | 0.78 | 2,621 |
2022-03-01 | $323,475 (-0.5%) | $457,295 (1.3%) | 0.81 | 2,683 |
2022-04-01 | $329,900 (0.0%) | $455,478 (0.4%) | 0.79 | 2,957 |
2022-05-01 | $349,950 (0.3%) | $470,234 (0.1%) | 0.80 | 3,515 |
2022-06-01 | $363,450 (6.9%) | $482,995 (4.9%) | 0.81 | 4,018 |
2022-07-01 | $355,000 (2.9%) | $473,098 (3.3%) | 0.80 | 4,533 |
2022-08-01 | $350,000 (4.7%) | $474,037 (8.1%) | 0.81 | 4,656 |
2022-09-01 | $346,225 (3.4%) | $466,911 (6.6%) | 0.81 | 4,600 |
2022-10-01 | $340,000 (4.7%) | $467,375 (8.7%) | 0.80 | 4,697 |
2022-11-01 | $338,550 (7.5%) | $461,577 (8.9%) | 0.81 | 4,600 |
2022-12-01 | $329,900 (6.5%) | $449,681 (5.9%) | 0.81 | 4,048 |
2023-01-01 | $319,950 (8.5%) | $445,265 (5.2%) | 0.79 | 3,596 |
2023-02-01 | $322,500 (7.5%) | $459,460 (6.9%) | 0.78 | 3,225 |
Baltimore's median listing price comes in at 78% of the national average.
Baltimore's average listing price for 2023-02-01 was $459,460, a difference of $29,809 (6.9%) versus the prior year and $14,195 versus the prior month.
For the 2023-02-01 period, Baltimore had 3,225 MLS listings, a difference of -371 listings (-10%) versus the prior month and 604 listings (23%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Baltimore (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 79 days | 1,726 sqft |
2018-02-01 | 73 days | 1,735 sqft |
2018-03-01 | 47 days | 1,756 sqft |
2018-04-01 | 44 days | 1,751 sqft |
2018-05-01 | 43 days | 1,791 sqft |
2018-06-01 | 45 days | 1,860 sqft |
2018-07-01 | 50 days | 1,858 sqft |
2018-08-01 | 53 days | 1,845 sqft |
2018-09-01 | 55 days | 1,820 sqft |
2018-10-01 | 56 days | 1,844 sqft |
2018-11-01 | 59 days | 1,843 sqft |
2018-12-01 | 69 days | 1,813 sqft |
2019-01-01 | 78 days | 1,800 sqft |
2019-02-01 | 71 days | 1,815 sqft |
2019-03-01 | 55 days | 1,863 sqft |
2019-04-01 | 40 days | 1,925 sqft |
2019-05-01 | 43 days | 1,948 sqft |
2019-06-01 | 47 days | 1,960 sqft |
2019-07-01 | 52 days | 1,964 sqft |
2019-08-01 | 53 days | 1,947 sqft |
2019-09-01 | 54 days | 1,933 sqft |
2019-10-01 | 56 days | 1,921 sqft |
2019-11-01 | 61 days | 1,904 sqft |
2019-12-01 | 73 days | 1,879 sqft |
2020-01-01 | 79 days | 1,870 sqft |
2020-02-01 | 70 days | 1,888 sqft |
2020-03-01 | 44 days | 1,913 sqft |
2020-04-01 | 51 days | 1,909 sqft |
2020-05-01 | 59 days | 1,928 sqft |
2020-06-01 | 52 days | 1,948 sqft |
2020-07-01 | 46 days | 1,961 sqft |
2020-08-01 | 41 days | 1,924 sqft |
2020-09-01 | 36 days | 1,872 sqft |
2020-10-01 | 44 days | 1,838 sqft |
2020-11-01 | 46 days | 1,800 sqft |
2020-12-01 | 54 days | 1,775 sqft |
2021-01-01 | 59 days | 1,740 sqft |
2021-02-01 | 48 days | 1,734 sqft |
2021-03-01 | 37 days | 1,773 sqft |
2021-04-01 | 32 days | 1,777 sqft |
2021-05-01 | 31 days | 1,810 sqft |
2021-06-01 | 31 days | 1,772 sqft |
2021-07-01 | 33 days | 1,777 sqft |
2021-08-01 | 33 days | 1,750 sqft |
2021-09-01 | 37 days | 1,753 sqft |
2021-10-01 | 40 days | 1,715 sqft |
2021-11-01 | 44 days | 1,694 sqft |
2021-12-01 | 50 days | 1,685 sqft |
2022-01-01 | 55 days | 1,652 sqft |
2022-02-01 | 39 days | 1,666 sqft |
2022-03-01 | 33 days | 1,713 sqft |
2022-04-01 | 30 days | 1,745 sqft |
2022-05-01 | 31 days | 1,790 sqft |
2022-06-01 | 31 days | 1,825 sqft |
2022-07-01 | 35 days | 1,807 sqft |
2022-08-01 | 37 days | 1,809 sqft |
2022-09-01 | 42 days | 1,798 sqft |
2022-10-01 | 43 days | 1,786 sqft |
2022-11-01 | 45 days | 1,770 sqft |
2022-12-01 | 52 days | 1,746 sqft |
2023-01-01 | 58 days | 1,739 sqft |
2023-02-01 | 52 days | 1,760 sqft |
Baltimore's median square footage for active listings during the 2023-02-01 period was 1,760 sqft. One year prior, the average listing was 1,666 sqft.