Baltimore USDA Loans

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 5.19% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.23% and one month ago for the week of 2022-04-08, the average rate was 5.09%.

The average rate one year ago was 3.3%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.15%.

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

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
CALIBER HOME LOANS, INC. 34 2.71% $7,282
FIRST HOME MORTGAGE CORPORATION 31 2.96% $7,366
BAY CAPITAL MORTGAGE CORPORATION 15 2.61% $6,781
Prosperity Home Mortgage, LLC 14 2.78% $7,160
Sierra Pacific Mortgage Company, Inc. 14 2.60% $7,124
Towne Bank 13 2.68% $6,952
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 2.80% $7,184
HOME POINT FINANCIAL CORPORATION 11 2.53% $7,246
NVR Mortgage Finance, Inc. 9 3.02% $8,856
EMBRACE HOME LOANS, INC. 9 2.74% $6,143
TJC Mortgage, Inc. 8 2.84% $6,869
SOUTHERN TRUST MORTGAGE, LLC 7 2.93% $6,320
George Mason Mortgage, LLC 6 2.69% $6,698
TIDEWATER MORTGAGE SERVICES, INC. 6 2.69% $8,283
NFM, INC. 6 2.92% $8,090
Integrity Home Mortgage Corp 5 3.13% $6,529
SEVERN SAVINGS BANK, FSB DBA SEVERN BANK 5 2.45% $7,291
GUARANTEED RATE, INC. 5 2.78% $7,415
PENNYMAC LOAN SERVICES, LLC 4 2.88% $6,102
SWBC MORTGAGE CORPORATION 4 3.16% $5,326
CROSSCOUNTRY MORTGAGE, LLC 4 3.09% $7,307
DIRECT MORTGAGE LOANS, LLC 4 2.84% $14,033
Paramount Residential Mortgage Group, Inc. 4 3.06% $10,197
HOMESPIRE MORTGAGE CORPORATION 4 2.78% $8,125
RESIDENTIAL MORTGAGE SERVICES, INC. 4 2.78% $7,073
Truist Bank 4 2.56% $8,120
Meridian Bank Corporation 4 2.47% $7,080
Presidential Bank, FSB 3 2.79% $8,211
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.75% $8,414
LAKEVIEW LOAN SERVICING, LLC 3 3.13% $3,872
UNITED WHOLESALE MORTGAGE, LLC 3 2.91% $7,480
APEX HOME LOANS, INC. 3 2.75% $7,686
ACADEMY MORTGAGE CORPORATION 3 2.79% $6,927
Flagstar Bank, FSB 3 2.86% $5,674
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 2.92% $8,934
PLAZA HOME MORTGAGE, INC. 3 2.79% $11,337
Wells Fargo Bank 2 2.50% $2,762
ABSOLUTE HOME MORTGAGE CORPORATION 2 3.00% $7,980
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 3.00% $11,599
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.63% $5,533
Bank of England 2 3.06% $9,549
BAYSHORE MORTGAGE FUNDING, LLC 2 2.25% $7,303
C & F Mortgage Corporation 2 2.63% $6,025
CMG MORTGAGE, INC. 2 2.81% $7,695
EMM LOANS LLC 2 2.56% $9,098
First Heritage Mortgage, LLC 2 2.44% $7,748
GUARANTEED RATE AFFINITY, LLC 2 2.63% $9,381
Keystone Funding, Inc. 2 2.44% $6,628
MORIA DEVELOPMENT, INC. 2 2.75% $6,327
MOVEMENT MORTGAGE, LLC 2 2.63% $4,815
NORWICH COMMERCIAL GROUP, INC. 2 3.25% $11,006
PNC Bank 2 2.75% $4,834
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.44% $6,958
STOCKTON MORTGAGE CORPORATION 2 2.75% $7,565
1ST PREFERENCE MORTGAGE CORP. 2 2.81% $10,391
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 2.75% $4,886
UNIVERSAL MORTGAGE & FINANCE, INC. 1 3.50% $8,180
GUARANTY HOME MORTGAGE CORPORATION 1 2.63% $7,456
Fulton Bank 1 3.00% $7,942
Vellum Mortgage, Inc. 1 2.88% $7,992
EVERETT FINANCIAL, INC. 1 3.88% $4,921
EQUITY RESOURCES, INC. 1 3.00% $7,462
Sandy Spring Bank 1 2.50% $8,969
ENVOY MORTGAGE, LTD 1 2.50% $6,923
Congressional Bank 1 2.25% $4,521
Capital Bank 1 2.88% $8,846
Waterstone Mortgage Corporation 1 3.63% $8,307
SUN WEST MORTGAGE COMPANY, INC. 1 3.25% $6,485
Atlantic Home Loans, Inc. 1 3.25% $7,403
T2 FINANCIAL LLC 1 3.25% $6,959
THE MORTGAGE FIRM, INC. 1 3.25% $7,095
THRIVE MORTGAGE, LLC 1 2.50% $6,082
Atlantic Coast Mortgage, LLC 1 3.25% $5,978
AMERICAN FINANCIAL NETWORK, INC. 1 3.25% $8,391
Acre Mortgage and Financial Inc 1 2.75% $6,085
ACNB Bank 1 2.75% $3,819
ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 1 2.38% $5,293
NEWREZ LLC 1 2.50% $9,400
OCMBC, INC. 1 3.50% $18,361
MCLEAN MORTGAGE CORPORATION 1 2.75% $8,770
HOMESIDE FINANCIAL, LLC 1 3.13% $7,431

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. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $287,950 (6.7%) $382,774 (5.7%) 1.06 8,264
2018-02-01 $286,500 (4.2%) $380,987 (3.3%) 1.03 7,986
2018-03-01 $299,900 (3.4%) $395,287 (3.1%) 1.04 8,648
2018-04-01 $313,500 (4.5%) $404,608 (1.1%) 1.05 9,361
2018-05-01 $325,000 (5.2%) $418,001 (3.3%) 1.08 9,952
2018-06-01 $329,900 (6.4%) $420,240 (2.6%) 1.10 10,270
2018-07-01 $329,495 (6.6%) $419,620 (3.4%) 1.10 10,560
2018-08-01 $325,000 (6.6%) $415,868 (1.5%) 1.09 10,670
2018-09-01 $319,900 (4.6%) $406,736 (-0.3%) 1.07 11,051
2018-10-01 $319,450 (6.5%) $404,207 (0.2%) 1.07 11,149
2018-11-01 $310,000 (3.7%) $396,067 (1.0%) 1.04 10,903
2018-12-01 $299,900 (3.8%) $385,326 (-0.4%) 1.03 9,743
2019-01-01 $299,900 (4.2%) $383,066 (0.1%) 1.03 8,728
2019-02-01 $299,925 (4.7%) $389,743 (2.3%) 1.00 8,327
2019-03-01 $312,829 (4.3%) $410,033 (3.7%) 1.02 8,715
2019-04-01 $329,950 (5.3%) $429,035 (6.0%) 1.04 9,393
2019-05-01 $339,950 (4.6%) $432,746 (3.5%) 1.05 10,121
2019-06-01 $343,500 (4.1%) $435,739 (3.7%) 1.06 10,504
2019-07-01 $339,500 (3.0%) $432,216 (3.0%) 1.06 10,544
2019-08-01 $332,433 (2.3%) $426,177 (2.5%) 1.05 10,328
2019-09-01 $329,000 (2.8%) $421,515 (3.6%) 1.04 10,112
2019-10-01 $325,000 (1.7%) $418,602 (3.6%) 1.04 10,111
2019-11-01 $320,000 (3.2%) $417,348 (5.4%) 1.03 9,607
2019-12-01 $309,450 (3.2%) $409,590 (6.3%) 1.03 8,059
2020-01-01 $309,900 (3.3%) $410,121 (7.1%) 1.03 7,106
2020-02-01 $320,000 (6.7%) $421,086 (8.0%) 1.03 6,628
2020-03-01 $328,450 (5.0%) $430,746 (5.1%) 1.03 6,851
2020-04-01 $328,450 (-0.5%) $430,671 (0.4%) 1.02 6,682
2020-05-01 $340,000 (0.0%) $443,576 (2.5%) 1.03 6,634
2020-06-01 $349,950 (1.9%) $462,091 (6.1%) 1.02 6,156
2020-07-01 $354,900 (4.5%) $471,012 (9.0%) 1.02 5,416
2020-08-01 $349,900 (5.3%) $470,620 (10.4%) 1.00 5,016
2020-09-01 $339,950 (3.3%) $462,028 (9.6%) 0.97 4,966
2020-10-01 $339,900 (4.6%) $465,786 (11.3%) 0.97 4,917
2020-11-01 $325,500 (1.7%) $453,482 (8.7%) 0.93 4,574
2020-12-01 $325,000 (5.0%) $451,617 (10.3%) 0.95 3,934
2021-01-01 $319,900 (3.2%) $453,049 (10.5%) 0.94 3,271
2021-02-01 $313,400 (-2.1%) $457,617 (8.7%) 0.90 2,731
2021-03-01 $325,000 (-1.1%) $456,649 (6.0%) 0.91 2,826
2021-04-01 $334,900 (2.0%) $458,417 (6.4%) 0.90 3,130
2021-05-01 $349,900 (2.9%) $474,138 (6.9%) 0.92 3,371
2021-06-01 $342,500 (-2.1%) $464,807 (0.6%) 0.89 3,920
2021-07-01 $349,000 (-1.7%) $463,191 (-1.7%) 0.91 4,369
2021-08-01 $335,000 (-4.3%) $442,791 (-5.9%) 0.88 4,746
2021-09-01 $335,000 (-1.5%) $441,754 (-4.4%) 0.88 4,791
2021-10-01 $325,000 (-4.4%) $434,067 (-6.8%) 0.86 4,669
2021-11-01 $315,000 (-3.2%) $427,147 (-5.8%) 0.83 4,149
2021-12-01 $311,200 (-4.3%) $428,723 (-5.1%) 0.83 3,442
2022-01-01 $299,000 (-6.5%) $427,005 (-5.8%) 0.80 2,842
2022-02-01 $300,000 (-4.3%) $433,711 (-5.2%) 0.76 2,574
2022-03-01 $324,975 (0.0%) $462,028 (1.2%) 0.80 2,637
2022-04-01 $330,000 (-1.5%) $458,082 (-0.1%) 0.78 2,886
Baltimore's median listing price for 2022-04-01 was $330,000, a difference of $-4,900 (-1.5%) versus the prior year and $5,025 versus the prior month.

Baltimore's median listing price comes in at 78% of the national average.

Baltimore's average listing price for 2022-04-01 was $458,082, a difference of $-335 (-0.1%) versus the prior year and $-3,946 versus the prior month.

For the 2022-04-01 period, Baltimore had 2,886 MLS listings, a difference of 249 listings (9%) versus the prior month and -244 listings (-8%) 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 79 days 1,911 sqft
2018-02-01 73 days 1,929 sqft
2018-03-01 47 days 1,951 sqft
2018-04-01 44 days 1,975 sqft
2018-05-01 43 days 2,010 sqft
2018-06-01 45 days 1,876 sqft
2018-07-01 50 days 1,873 sqft
2018-08-01 53 days 1,856 sqft
2018-09-01 54 days 1,830 sqft
2018-10-01 56 days 1,856 sqft
2018-11-01 59 days 1,856 sqft
2018-12-01 69 days 1,824 sqft
2019-01-01 77 days 1,818 sqft
2019-02-01 72 days 1,830 sqft
2019-03-01 50 days 1,883 sqft
2019-04-01 40 days 1,939 sqft
2019-05-01 43 days 1,960 sqft
2019-06-01 47 days 1,974 sqft
2019-07-01 51 days 1,972 sqft
2019-08-01 56 days 1,957 sqft
2019-09-01 55 days 1,945 sqft
2019-10-01 53 days 1,926 sqft
2019-11-01 58 days 1,913 sqft
2019-12-01 70 days 1,888 sqft
2020-01-01 76 days 1,880 sqft
2020-02-01 66 days 1,900 sqft
2020-03-01 43 days 1,920 sqft
2020-04-01 49 days 1,920 sqft
2020-05-01 57 days 1,944 sqft
2020-06-01 50 days 1,963 sqft
2020-07-01 43 days 1,970 sqft
2020-08-01 42 days 1,937 sqft
2020-09-01 35 days 1,888 sqft
2020-10-01 43 days 1,852 sqft
2020-11-01 46 days 1,808 sqft
2020-12-01 53 days 1,798 sqft
2021-01-01 60 days 1,755 sqft
2021-02-01 51 days 1,751 sqft
2021-03-01 38 days 1,793 sqft
2021-04-01 33 days 1,800 sqft
2021-05-01 34 days 1,827 sqft
2021-06-01 32 days 1,786 sqft
2021-07-01 35 days 1,798 sqft
2021-08-01 34 days 1,763 sqft
2021-09-01 37 days 1,760 sqft
2021-10-01 40 days 1,728 sqft
2021-11-01 44 days 1,705 sqft
2021-12-01 50 days 1,701 sqft
2022-01-01 56 days 1,668 sqft
2022-02-01 40 days 1,680 sqft
2022-03-01 33 days 1,739 sqft
2022-04-01 31 days 1,760 sqft
Baltimore's median listing age (time on market) for 2022-04-01 was 31 days. This is -5% shorter than the same period one year ago.

Baltimore's median square footage for active listings during the 2022-04-01 period was 1,760 sqft. One year prior, the average listing was 1,800 sqft.