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 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%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    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 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 $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 for 2023-02-01 was $322,500, a difference of $22,550 (7.5%) versus the prior year and $2,550 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2023-02-01 was 52 days. This is 34% longer than the same period one year ago.

    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.