Baltimore USDA Loan Rates, Closing Costs & Stats

BALTIMORE-COLUMBIA-TOWSON, MD

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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.

    Baltimore's 33 lenders originated 58 USDA loans during 2023. The total origination value was $18,180,000, with an average USDA loan value of $313,448.

    Baltimore USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Baltimore averaged 6.58% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

    Baltimore's average USDA mortgage closing costs are $7,338.

    The average rate for the prior week (2024-04-05) was 6.8% and one month ago for the week of 2024-03-08, the average rate was 6.76%.

    The average rate one year ago was 6.27%.

    For refis of the same type during the week of 2024-04-12, the average rate was 7.21%.

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

    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.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FIRST HOME MORTGAGE CORPORATION 8 6.27% $10,350
    Towne Bank 6 6.54% $8,910
    BAY CAPITAL MORTGAGE CORPORATION 4 6.03% $10,271
    Atlantic Coast Mortgage, LLC 3 6.62% $9,439
    CROSSCOUNTRY MORTGAGE, LLC 2 6.13% $9,419
    AMERICAN FINANCIAL NETWORK, INC. 2 6.50% $11,132
    Paramount Residential Mortgage Group, Inc. 2 6.44% $20,688
    FIDELITY DIRECT MORTGAGE, LLC 1 5.25% $14,452
    George Mason Mortgage, LLC 1 6.49% $6,563
    GUARANTEED RATE AFFINITY, LLC 1 5.68% $6,999
    Keystone Funding, Inc. 1 7.13% $8,681
    Meridian Bank Corporation 1 5.63% $8,886
    MORIA DEVELOPMENT, INC. 1 7.13% $12,079
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.88% $11,104
    NEWREZ LLC 1 5.25% $15,511
    NVR Mortgage Finance, Inc. 1 5.75% $10,964
    Plains Commerce Bank 1 5.00% $19,852
    PLANET HOME LENDING, LLC 1 5.25% $14,452
    PNC Bank 1 6.25% $9,236
    Presidential Bank, FSB 1 6.00% $11,171
    Prosperity Home Mortgage, LLC 1 6.49% $11,474
    Shore United Bank 1 6.00% $8,509
    SWBC MORTGAGE CORPORATION 1 6.25% $4,508
    UNITED WHOLESALE MORTGAGE, LLC 1 5.09% $12,760
    Vellum Mortgage, Inc. 1 6.99% $9,945
    1ST FINANCIAL, INC. 1 6.50% $6,711
    Waterstone Mortgage Corporation 1 6.13% $11,839
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.13% $8,207
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.38% $14,563
    CALIBER HOME LOANS, INC. 1 5.38% $16,285
    EMBRACE HOME LOANS, INC. 1 5.75% $10,348
    EMM LOANS LLC 1 5.75% $7,692
    EVERETT FINANCIAL, INC. 1 5.88% $7,291

    The top Baltimore USDA lender as defined by loan originations is FIRST HOME MORTGAGE CORPORATION, with 8 USDA loans originated. Their average total fees are $10,350, which is $1,440 higher than the next largest lender, Towne Bank.

    The lowest fee Baltimore USDA lenders (with over 10 loans originated) are .

    The lowest rate Baltimore USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Baltimore (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 $284,973 (5.6%) $383,002 (5.9%) 1.06 8,252
    2018-02-01 $284,998 (3.7%) $380,887 (3.4%) 1.03 7,973
    2018-03-01 $299,900 (3.5%) $394,407 (3.0%) 1.05 8,646
    2018-04-01 $312,400 (4.2%) $402,821 (0.7%) 1.06 9,360
    2018-05-01 $324,225 (6.3%) $417,124 (3.2%) 1.08 9,971
    2018-06-01 $326,990 (6.3%) $418,722 (2.5%) 1.09 10,270
    2018-07-01 $327,450 (7.4%) $418,130 (3.2%) 1.09 10,558
    2018-08-01 $324,450 (7.6%) $414,530 (1.3%) 1.09 10,655
    2018-09-01 $319,000 (5.3%) $405,145 (-0.8%) 1.07 11,036
    2018-10-01 $316,500 (5.5%) $403,186 (0.0%) 1.07 11,156
    2018-11-01 $309,450 (4.9%) $396,119 (1.1%) 1.05 10,888
    2018-12-01 $299,900 (5.2%) $385,311 (-0.3%) 1.03 9,732
    2019-01-01 $299,250 (5.0%) $382,892 (0.0%) 1.03 8,717
    2019-02-01 $299,900 (5.2%) $389,695 (2.3%) 1.01 8,315
    2019-03-01 $312,757 (4.3%) $409,327 (3.8%) 1.02 8,779
    2019-04-01 $329,900 (5.6%) $428,588 (6.4%) 1.05 9,486
    2019-05-01 $337,900 (4.2%) $432,894 (3.8%) 1.06 10,145
    2019-06-01 $339,999 (4.0%) $435,245 (4.0%) 1.06 10,520
    2019-07-01 $337,450 (3.1%) $431,993 (3.3%) 1.06 10,543
    2019-08-01 $332,200 (2.4%) $426,467 (2.9%) 1.05 10,424
    2019-09-01 $328,150 (2.9%) $422,182 (4.2%) 1.05 10,303
    2019-10-01 $324,500 (2.5%) $418,036 (3.7%) 1.05 10,173
    2019-11-01 $319,900 (3.4%) $415,653 (4.9%) 1.05 9,604
    2019-12-01 $302,995 (1.0%) $407,509 (5.8%) 1.01 8,144
    2020-01-01 $305,600 (2.1%) $407,330 (6.4%) 1.02 7,135
    2020-02-01 $317,500 (5.9%) $417,428 (7.1%) 1.04 6,767
    2020-03-01 $326,000 (4.2%) $428,267 (4.6%) 1.02 6,941
    2020-04-01 $325,000 (-1.5%) $429,221 (0.2%) 1.02 6,689
    2020-05-01 $340,000 (0.6%) $441,696 (2.0%) 1.03 6,711
    2020-06-01 $348,250 (2.4%) $458,793 (5.4%) 1.03 6,239
    2020-07-01 $350,000 (3.7%) $469,340 (8.7%) 1.01 5,505
    2020-08-01 $347,200 (4.5%) $468,701 (9.9%) 0.99 5,055
    2020-09-01 $339,900 (3.6%) $459,242 (8.8%) 0.97 4,998
    2020-10-01 $335,000 (3.2%) $462,994 (10.8%) 0.96 4,972
    2020-11-01 $325,000 (1.6%) $448,779 (8.0%) 0.95 4,636
    2020-12-01 $319,950 (5.6%) $447,043 (9.7%) 0.95 3,969
    2021-01-01 $318,375 (4.2%) $448,724 (10.2%) 0.95 3,334
    2021-02-01 $312,450 (-1.6%) $455,132 (9.0%) 0.91 2,791
    2021-03-01 $324,995 (-0.3%) $451,524 (5.4%) 0.92 2,885
    2021-04-01 $329,995 (1.5%) $454,067 (5.8%) 0.89 3,205
    2021-05-01 $349,000 (2.7%) $470,002 (6.4%) 0.93 3,549
    2021-06-01 $339,950 (-2.4%) $460,627 (0.4%) 0.89 4,004
    2021-07-01 $345,000 (-1.4%) $457,978 (-2.4%) 0.91 4,496
    2021-08-01 $334,950 (-3.5%) $438,698 (-6.4%) 0.89 4,840
    2021-09-01 $334,950 (-1.5%) $438,167 (-4.6%) 0.89 4,860
    2021-10-01 $324,900 (-3.0%) $430,277 (-7.1%) 0.87 4,741
    2021-11-01 $314,950 (-3.1%) $424,023 (-5.5%) 0.84 4,221
    2021-12-01 $309,950 (-3.1%) $425,042 (-4.9%) 0.84 3,505
    2022-01-01 $295,700 (-7.1%) $423,368 (-5.7%) 0.80 2,872
    2022-02-01 $299,950 (-4.0%) $429,741 (-5.6%) 0.78 2,627
    2022-03-01 $324,850 (0.0%) $457,825 (1.4%) 0.81 2,690
    2022-04-01 $329,900 (0.0%) $456,137 (0.5%) 0.79 2,964
    2022-05-01 $349,950 (0.3%) $470,734 (0.2%) 0.80 3,523
    2022-06-01 $364,950 (7.4%) $483,536 (5.0%) 0.81 4,029
    2022-07-01 $359,000 (4.1%) $474,485 (3.6%) 0.81 4,546
    2022-08-01 $350,000 (4.5%) $474,787 (8.2%) 0.81 4,665
    2022-09-01 $348,625 (4.1%) $467,747 (6.8%) 0.82 4,612
    2022-10-01 $340,000 (4.7%) $468,235 (8.8%) 0.80 4,713
    2022-11-01 $339,700 (7.9%) $462,688 (9.1%) 0.82 4,612
    2022-12-01 $329,997 (6.5%) $450,341 (6.0%) 0.81 4,058
    2023-01-01 $319,988 (8.2%) $446,060 (5.4%) 0.79 3,601
    2023-02-01 $323,250 (7.8%) $459,861 (7.0%) 0.78 3,225
    2023-03-01 $348,125 (7.2%) $481,090 (5.1%) 0.82 3,062
    2023-04-01 $340,000 (3.1%) $485,090 (6.4%) 0.79 3,149
    2023-05-01 $350,000 (0.0%) $493,918 (4.9%) 0.79 3,223
    2023-06-01 $365,250 (0.1%) $512,972 (6.1%) 0.82 3,293
    2023-07-01 $374,900 (4.4%) $510,765 (7.7%) 0.85 3,412
    2023-08-01 $377,450 (7.8%) $507,324 (6.9%) 0.87 3,490
    2023-09-01 $370,000 (6.1%) $508,671 (8.8%) 0.86 3,859
    2023-10-01 $367,450 (8.1%) $504,970 (7.9%) 0.86 4,159
    2023-11-01 $358,348 (5.5%) $484,979 (4.8%) 0.85 4,330
    2023-12-01 $345,000 (4.6%) $469,178 (4.2%) 0.84 3,864
    2024-01-01 $327,500 (2.4%) $469,492 (5.3%) 0.80 3,434
    2024-02-01 $329,500 (1.9%) $474,953 (3.3%) 0.79 3,302
    2024-03-01 $335,000 (-3.8%) $488,354 (1.5%) 0.79 3,417
    Baltimore's median listing price for 2024-03-01 was $335,000, a difference of $-13,125 (-3.8%) versus the prior year and $5,500 versus the prior month.

    Baltimore's median listing price comes in at 79% of the national average.

    Baltimore's average listing price for 2024-03-01 was $488,354, a difference of $7,264 (1.5%) versus the prior year and $13,401 versus the prior month.

    For the 2024-03-01 period, Baltimore had 3,417 MLS listings, a difference of 115 listings (3%) versus the prior month and 355 listings (12%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Baltimore (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 74 days 1,752 sqft
    2018-02-01 67 days 1,764 sqft
    2018-03-01 43 days 1,784 sqft
    2018-04-01 41 days 1,783 sqft
    2018-05-01 39 days 1,815 sqft
    2018-06-01 44 days 1,863 sqft
    2018-07-01 47 days 1,860 sqft
    2018-08-01 51 days 1,848 sqft
    2018-09-01 52 days 1,823 sqft
    2018-10-01 52 days 1,844 sqft
    2018-11-01 56 days 1,843 sqft
    2018-12-01 65 days 1,815 sqft
    2019-01-01 72 days 1,800 sqft
    2019-02-01 66 days 1,815 sqft
    2019-03-01 50 days 1,862 sqft
    2019-04-01 38 days 1,922 sqft
    2019-05-01 40 days 1,948 sqft
    2019-06-01 45 days 1,956 sqft
    2019-07-01 50 days 1,960 sqft
    2019-08-01 51 days 1,944 sqft
    2019-09-01 51 days 1,931 sqft
    2019-10-01 52 days 1,920 sqft
    2019-11-01 59 days 1,902 sqft
    2019-12-01 69 days 1,878 sqft
    2020-01-01 75 days 1,870 sqft
    2020-02-01 63 days 1,888 sqft
    2020-03-01 40 days 1,914 sqft
    2020-04-01 48 days 1,910 sqft
    2020-05-01 56 days 1,932 sqft
    2020-06-01 48 days 1,949 sqft
    2020-07-01 41 days 1,960 sqft
    2020-08-01 37 days 1,923 sqft
    2020-09-01 32 days 1,872 sqft
    2020-10-01 41 days 1,838 sqft
    2020-11-01 44 days 1,800 sqft
    2020-12-01 51 days 1,777 sqft
    2021-01-01 57 days 1,741 sqft
    2021-02-01 43 days 1,733 sqft
    2021-03-01 34 days 1,775 sqft
    2021-04-01 30 days 1,777 sqft
    2021-05-01 30 days 1,810 sqft
    2021-06-01 30 days 1,772 sqft
    2021-07-01 31 days 1,778 sqft
    2021-08-01 32 days 1,751 sqft
    2021-09-01 36 days 1,751 sqft
    2021-10-01 39 days 1,710 sqft
    2021-11-01 42 days 1,697 sqft
    2021-12-01 48 days 1,687 sqft
    2022-01-01 52 days 1,650 sqft
    2022-02-01 37 days 1,663 sqft
    2022-03-01 31 days 1,714 sqft
    2022-04-01 29 days 1,740 sqft
    2022-05-01 30 days 1,790 sqft
    2022-06-01 31 days 1,824 sqft
    2022-07-01 34 days 1,807 sqft
    2022-08-01 36 days 1,811 sqft
    2022-09-01 41 days 1,798 sqft
    2022-10-01 42 days 1,786 sqft
    2022-11-01 45 days 1,769 sqft
    2022-12-01 51 days 1,746 sqft
    2023-01-01 57 days 1,741 sqft
    2023-02-01 49 days 1,758 sqft
    2023-03-01 43 days 1,800 sqft
    2023-04-01 36 days 1,812 sqft
    2023-05-01 36 days 1,824 sqft
    2023-06-01 36 days 1,857 sqft
    2023-07-01 37 days 1,856 sqft
    2023-08-01 37 days 1,867 sqft
    2023-09-01 37 days 1,855 sqft
    2023-10-01 37 days 1,839 sqft
    2023-11-01 39 days 1,818 sqft
    2023-12-01 46 days 1,774 sqft
    2024-01-01 53 days 1,748 sqft
    2024-02-01 44 days 1,752 sqft
    2024-03-01 36 days 1,760 sqft
    Baltimore's median listing age (time on market) for 2024-03-01 was 36 days. This is -16% shorter than the same period one year ago.

    Baltimore's median square footage for active listings during the 2024-03-01 period was 1,760 sqft. One year prior, the average listing was 1,800 sqft.