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 43 lenders originated 118 USDA loans during 2022. The total origination value was $37,700,000, with an average USDA loan value of $319,492.

Baltimore USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Baltimore averaged 6.25% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

Baltimore's average USDA mortgage closing costs are $7,211.

The average rate for the prior week (2024-02-23) was 6.4% and one month ago for the week of 2024-01-26, the average rate was 6.26%.

The average rate one year ago was 6.02%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.2%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
FIRST HOME MORTGAGE CORPORATION 17 4.50% $9,121
CALIBER HOME LOANS, INC. 12 4.37% $9,193
NVR Mortgage Finance, Inc. 8 4.14% $9,917
HOME POINT FINANCIAL CORPORATION 6 4.35% $8,546
BAY CAPITAL MORTGAGE CORPORATION 6 4.94% $7,801
MOVEMENT MORTGAGE, LLC 6 4.71% $9,590
UNITED WHOLESALE MORTGAGE, LLC 5 5.78% $8,996
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 4.44% $9,661
HOMESPIRE MORTGAGE CORPORATION 4 3.63% $9,801
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 4.81% $10,495
NFM, INC. 3 5.46% $10,123
Meridian Bank Corporation 3 4.21% $7,896
1ST FINANCIAL, INC. 2 5.44% $14,415
George Mason Mortgage, LLC 2 4.87% $7,601
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.88% $9,948
NORWICH COMMERCIAL GROUP, INC. 2 5.00% $18,265
Presidential Bank, FSB 2 4.50% $11,458
Prosperity Home Mortgage, LLC 2 3.31% $7,289
Shore United Bank 2 4.75% $10,329
TJC Mortgage, Inc. 2 5.56% $14,275
MICHIGAN MUTUAL, INC. 1 3.00% $8,417
CROSSCOUNTRY MORTGAGE, LLC 1 2.99% $16,518
Nations Lending Corporation 1 4.38% $7,314
CARDINAL FINANCIAL 1 4.75% $10,404
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.63% $9,921
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.88% $5,776
Paramount Residential Mortgage Group, Inc. 1 6.63% $9,939
PLAZA HOME MORTGAGE, INC. 1 3.63% $11,470
VAN DYK MORTGAGE CORPORATION 1 5.75% $6,899
Ameris Bank 1 5.13% $13,469
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.50% $12,591
Watermark Capital, Inc. 1 4.63% $11,773
Waterstone Mortgage Corporation 1 4.63% $13,741
Sierra Pacific Mortgage Company, Inc. 1 2.88% $11,772
SOUTHERN TRUST MORTGAGE, LLC 1 5.13% $10,546
SWBC MORTGAGE CORPORATION 1 5.25% $3,842
Wells Fargo Bank 1 5.25% $3,810
GUARANTEED RATE, INC. 1 4.75% $9,973
Towne Bank 1 3.25% $7,871
Flagstar Bank, FSB 1 2.72% $6,746
First Heritage Mortgage, LLC 1 3.38% $7,814
MCLEAN MORTGAGE CORPORATION 1 5.63% $7,203
DIRECT MORTGAGE LOANS, LLC 1 4.25% $6,861

The top Baltimore USDA lender as defined by loan originations is FIRST HOME MORTGAGE CORPORATION, with 17 USDA loans originated. Their average total fees are $9,121, which is $72 lower than the next largest lender, CALIBER HOME LOANS, INC..

The lowest fee Baltimore USDA lenders (with over 10 loans originated) are FIRST HOME MORTGAGE CORPORATION ($9,121), CALIBER HOME LOANS, INC. ($9,193), .

The lowest rate Baltimore USDA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. (4.37%), FIRST HOME MORTGAGE CORPORATION (4.50%), .


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
Baltimore's median listing price for 2024-01-01 was $327,500, a difference of $7,512 (2.4%) versus the prior year and $-17,500 versus the prior month.

Baltimore's median listing price comes in at 80% of the national average.

Baltimore's average listing price for 2024-01-01 was $469,492, a difference of $23,432 (5.3%) versus the prior year and $314 versus the prior month.

For the 2024-01-01 period, Baltimore had 3,434 MLS listings, a difference of -430 listings (-11%) versus the prior month and -167 listings (-5%) 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 1,922 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
Baltimore's median listing age (time on market) for 2024-01-01 was 53 days. This is -6% shorter than the same period one year ago.

Baltimore's median square footage for active listings during the 2024-01-01 period was 1,748 sqft. One year prior, the average listing was 1,741 sqft.