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 -0.13% for the week of 2024-06-21, compared to the national average (all USDA variants) of 0% for the same period.

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

The average rate for the prior week (2024-06-14) was 6.56% and one month ago for the week of 2024-05-17, the average rate was 6.49%.

The average rate one year ago was 6.67%.

For refis of the same type during the week of 2024-06-21, the average rate was 0.31%.

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 .