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%.

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.