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 20 lenders originated 30 USDA loans during 2024. The total origination value was $10,260,000, with an average USDA loan value of $342,000.

Baltimore USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Baltimore averaged 0.39% for the week of 2025-06-20, compared to the national average (all USDA variants) of 0% for the same period.

Baltimore's average USDA mortgage closing costs are $7,402.

The average rate for the prior week (2025-06-13) was 6.89% and one month ago for the week of 2025-05-16, the average rate was 6.75%.

The average rate one year ago was 6.77%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.06%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
FIRST HOME MORTGAGE CORPORATION 6 6.42% $11,492
Towne Bank 3 6.25% $8,675
EMM LOANS LLC 2 6.25% $8,862
NEWREZ LLC 2 6.50% $11,336
GUILD MORTGAGE COMPANY 2 6.50% $9,411
HOMESIDE FINANCIAL, LLC 1 7.13% $8,095
Meridian Bank Corporation 1 6.00% $8,271
AMERICAN FINANCIAL NETWORK, INC. 1 5.63% $10,347
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.63% $12,634
NATION ONE MORTGAGE CORPORATION 1 5.63% $8,259
NFM, INC. 1 7.25% $7,463
Paramount Residential Mortgage Group, Inc. 1 6.63% $16,778
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.63% $14,471
Prosperity Home Mortgage, LLC 1 5.62% $9,758
SOUTHERN TRUST MORTGAGE, LLC 1 6.50% $9,065
MICHIGAN MUTUAL, INC. 1 6.25% $18,099
Ameris Bank 1 6.13% $7,982
CMG MORTGAGE, INC. 1 6.25% $12,858
DIRECT MORTGAGE LOANS, LLC 1 6.62% $8,070
FIDELITY DIRECT MORTGAGE, LLC 1 6.25% $9,745

The top Baltimore USDA lender as defined by loan originations is FIRST HOME MORTGAGE CORPORATION, with 6 USDA loans originated. Their average total fees are $11,492, which is $2,817 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 .