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 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 6.14% for the week of 2024-10-04, compared to the national average (all USDA variants) of 5.97% for the same period.

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

The average rate for the prior week (2024-09-27) was 5.77% and one month ago for the week of 2024-08-30, the average rate was 6.31%.

The average rate one year ago was 7.26%.

For refis of the same type during the week of 2024-10-04, the average rate was 6.18%.

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
2024-04-01 $352,225 (3.6%) $510,510 (5.2%) 0.82 3,630
2024-05-01 $359,945 (2.8%) $533,202 (8.0%) 0.81 3,878
2024-06-01 $369,995 (1.3%) $538,217 (4.9%) 0.83 4,260
2024-07-01 $375,000 (0.0%) $526,621 (3.1%) 0.86 4,423
2024-08-01 $370,900 (-1.7%) $516,805 (1.9%) 0.86 4,507
2024-09-01 $369,900 (0.0%) $502,988 (-1.1%) 0.00 4,812
Baltimore's median listing price for 2024-09-01 was $369,900, a difference of $-100 (0.0%) versus the prior year and $-1,000 versus the prior month.

Baltimore's median listing price comes in at 0% of the national average.

Baltimore's average listing price for 2024-09-01 was $502,988, a difference of $-5,683 (-1.1%) versus the prior year and $-13,817 versus the prior month.

For the 2024-09-01 period, Baltimore had 4,812 MLS listings, a difference of 305 listings (7%) versus the prior month and 953 listings (25%) 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
2024-04-01 36 days 1,808 sqft
2024-05-01 30 days 1,824 sqft
2024-06-01 31 days 1,850 sqft
2024-07-01 37 days 1,860 sqft
2024-08-01 37 days 1,839 sqft
2024-09-01 0 days 1,800 sqft
Baltimore's median listing age (time on market) for 2024-09-01 was 0 days. This is -100% shorter than the same period one year ago.

Baltimore's median square footage for active listings during the 2024-09-01 period was 1,800 sqft. One year prior, the average listing was 1,855 sqft.