Bangor USDA Loans
BANGOR, ME
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.
Bangor's 28 lenders originated 148 USDA loans during 2021. The total origination value was $23,440,000, with an average USDA loan value of $158,378.
Bangor USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Bangor
averaged
5.56%
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was
5.29% and
one month ago for the week of 2022-04-08, the
average rate was 4.95%.
The average rate one year ago was 3.07%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.31%.
Bangor USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bangor level.
The top Bangor USDA lender as defined by loan originations is Bangor Savings Bank, with
32 USDA loans originated. Their average total fees are
$4,926, which is $182
lower than the next largest lender,
RESIDENTIAL MORTGAGE SERVICES, INC..
The lowest fee Bangor USDA lenders (with over 10 loans originated) are
CUSO MORTGAGE CORPORATION ($4,834), Mortgage Network, Inc. ($4,917), Bangor Savings Bank ($4,926), RESIDENTIAL MORTGAGE SERVICES, INC. ($5,108) and .
The lowest rate Bangor USDA lenders (with over 10 loans originated) are
RESIDENTIAL MORTGAGE SERVICES, INC. (2.73%), Bangor Savings Bank (2.84%), CUSO MORTGAGE CORPORATION (2.90%), Mortgage Network, Inc. (2.95%) and .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Bangor (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $149,000 (-0.3%) | $183,739 (-2.8%) | 0.55 | 794 |
2018-02-01 | $148,750 (-0.8%) | $184,957 (-2.6%) | 0.54 | 729 |
2018-03-01 | $149,900 (-2.8%) | $191,405 (-1.0%) | 0.52 | 725 |
2018-04-01 | $149,950 (-5.7%) | $193,066 (-2.5%) | 0.50 | 739 |
2018-05-01 | $159,450 (-0.3%) | $199,506 (1.4%) | 0.53 | 775 |
2018-06-01 | $165,000 (3.2%) | $204,193 (4.3%) | 0.55 | 827 |
2018-07-01 | $169,250 (5.9%) | $210,676 (9.4%) | 0.56 | 911 |
2018-08-01 | $168,450 (7.8%) | $207,084 (8.5%) | 0.56 | 921 |
2018-09-01 | $169,000 (7.6%) | $200,322 (3.1%) | 0.57 | 894 |
2018-10-01 | $159,950 (1.9%) | $192,710 (-1.2%) | 0.53 | 901 |
2018-11-01 | $159,900 (6.6%) | $191,607 (-0.4%) | 0.54 | 856 |
2018-12-01 | $159,000 (6.1%) | $185,780 (-2.2%) | 0.54 | 774 |
2019-01-01 | $155,000 (4.0%) | $183,469 (-0.2%) | 0.53 | 711 |
2019-02-01 | $159,900 (7.5%) | $188,963 (2.2%) | 0.54 | 687 |
2019-03-01 | $162,100 (8.1%) | $195,293 (2.0%) | 0.53 | 650 |
2019-04-01 | $166,950 (11.3%) | $200,290 (3.7%) | 0.53 | 625 |
2019-05-01 | $169,000 (6.0%) | $206,034 (3.3%) | 0.52 | 678 |
2019-06-01 | $169,900 (3.0%) | $209,988 (2.8%) | 0.52 | 755 |
2019-07-01 | $170,900 (1.0%) | $210,116 (-0.3%) | 0.53 | 825 |
2019-08-01 | $169,900 (0.9%) | $208,070 (0.5%) | 0.53 | 810 |
2019-09-01 | $169,950 (0.6%) | $210,545 (5.1%) | 0.54 | 760 |
2019-10-01 | $170,950 (6.9%) | $214,411 (11.3%) | 0.55 | 736 |
2019-11-01 | $169,900 (6.3%) | $211,114 (10.2%) | 0.55 | 683 |
2019-12-01 | $168,500 (6.0%) | $209,843 (13.0%) | 0.56 | 630 |
2020-01-01 | $168,000 (8.4%) | $211,908 (15.5%) | 0.56 | 569 |
2020-02-01 | $167,900 (5.0%) | $212,488 (12.5%) | 0.54 | 545 |
2020-03-01 | $169,000 (4.3%) | $214,157 (9.7%) | 0.53 | 528 |
2020-04-01 | $169,450 (1.5%) | $207,110 (3.4%) | 0.53 | 516 |
2020-05-01 | $180,000 (6.5%) | $217,713 (5.7%) | 0.55 | 483 |
2020-06-01 | $181,950 (7.1%) | $221,449 (5.5%) | 0.53 | 447 |
2020-07-01 | $194,000 (13.5%) | $228,529 (8.8%) | 0.56 | 433 |
2020-08-01 | $189,000 (11.2%) | $226,024 (8.6%) | 0.54 | 395 |
2020-09-01 | $184,950 (8.8%) | $220,448 (4.7%) | 0.53 | 385 |
2020-10-01 | $179,000 (4.7%) | $219,414 (2.3%) | 0.51 | 368 |
2020-11-01 | $181,950 (7.1%) | $226,934 (7.5%) | 0.52 | 354 |
2020-12-01 | $189,700 (12.6%) | $235,708 (12.3%) | 0.56 | 322 |
2021-01-01 | $189,900 (13.0%) | $238,452 (12.5%) | 0.56 | 268 |
2021-02-01 | $204,900 (22.0%) | $248,770 (17.1%) | 0.59 | 203 |
2021-03-01 | $224,450 (32.8%) | $257,836 (20.4%) | 0.63 | 181 |
2021-04-01 | $219,500 (29.5%) | $266,242 (28.6%) | 0.59 | 184 |
2021-05-01 | $239,000 (32.8%) | $274,505 (26.1%) | 0.63 | 223 |
2021-06-01 | $244,000 (34.1%) | $280,426 (26.6%) | 0.63 | 273 |
2021-07-01 | $246,950 (27.3%) | $289,005 (26.5%) | 0.64 | 317 |
2021-08-01 | $234,950 (24.3%) | $279,217 (23.5%) | 0.62 | 379 |
2021-09-01 | $234,750 (26.9%) | $279,701 (26.9%) | 0.62 | 376 |
2021-10-01 | $225,000 (25.7%) | $274,353 (25.0%) | 0.59 | 339 |
2021-11-01 | $225,000 (23.7%) | $279,718 (23.3%) | 0.59 | 314 |
2021-12-01 | $211,500 (11.5%) | $275,472 (16.9%) | 0.56 | 263 |
2022-01-01 | $205,000 (8.0%) | $289,792 (21.5%) | 0.55 | 188 |
2022-02-01 | $200,000 (-2.4%) | $291,716 (17.3%) | 0.51 | 179 |
2022-03-01 | $232,000 (3.4%) | $287,282 (11.4%) | 0.57 | 180 |
2022-04-01 | $240,000 (9.3%) | $276,883 (4.0%) | 0.56 | 178 |
Bangor's median listing price comes in at 56% of the national average.
Bangor's average listing price for 2022-04-01 was $276,883, a difference of $10,641 (4.0%) versus the prior year and $-10,399 versus the prior month.
For the 2022-04-01 period, Bangor had 178 MLS listings, a difference of -2 listings (-1%) versus the prior month and -6 listings (-3%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Bangor (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 149 days | 1,594 sqft |
2018-02-01 | 166 days | 1,591 sqft |
2018-03-01 | 166 days | 1,592 sqft |
2018-04-01 | 160 days | 1,584 sqft |
2018-05-01 | 102 days | 1,600 sqft |
2018-06-01 | 72 days | 1,604 sqft |
2018-07-01 | 70 days | 1,644 sqft |
2018-08-01 | 80 days | 1,633 sqft |
2018-09-01 | 87 days | 1,632 sqft |
2018-10-01 | 96 days | 1,611 sqft |
2018-11-01 | 100 days | 1,600 sqft |
2018-12-01 | 121 days | 1,600 sqft |
2019-01-01 | 129 days | 1,587 sqft |
2019-02-01 | 139 days | 1,600 sqft |
2019-03-01 | 142 days | 1,614 sqft |
2019-04-01 | 129 days | 1,634 sqft |
2019-05-01 | 80 days | 1,624 sqft |
2019-06-01 | 57 days | 1,632 sqft |
2019-07-01 | 62 days | 1,605 sqft |
2019-08-01 | 76 days | 1,604 sqft |
2019-09-01 | 85 days | 1,620 sqft |
2019-10-01 | 95 days | 1,600 sqft |
2019-11-01 | 109 days | 1,628 sqft |
2019-12-01 | 114 days | 1,635 sqft |
2020-01-01 | 123 days | 1,605 sqft |
2020-02-01 | 123 days | 1,600 sqft |
2020-03-01 | 129 days | 1,599 sqft |
2020-04-01 | 128 days | 1,600 sqft |
2020-05-01 | 107 days | 1,632 sqft |
2020-06-01 | 88 days | 1,632 sqft |
2020-07-01 | 61 days | 1,663 sqft |
2020-08-01 | 59 days | 1,630 sqft |
2020-09-01 | 57 days | 1,613 sqft |
2020-10-01 | 52 days | 1,604 sqft |
2020-11-01 | 56 days | 1,596 sqft |
2020-12-01 | 65 days | 1,610 sqft |
2021-01-01 | 84 days | 1,600 sqft |
2021-02-01 | 94 days | 1,580 sqft |
2021-03-01 | 84 days | 1,600 sqft |
2021-04-01 | 46 days | 1,690 sqft |
2021-05-01 | 29 days | 1,652 sqft |
2021-06-01 | 26 days | 1,616 sqft |
2021-07-01 | 34 days | 1,626 sqft |
2021-08-01 | 37 days | 1,623 sqft |
2021-09-01 | 48 days | 1,645 sqft |
2021-10-01 | 59 days | 1,682 sqft |
2021-11-01 | 71 days | 1,677 sqft |
2021-12-01 | 81 days | 1,567 sqft |
2022-01-01 | 107 days | 1,560 sqft |
2022-02-01 | 113 days | 1,500 sqft |
2022-03-01 | 86 days | 1,500 sqft |
2022-04-01 | 57 days | 1,547 sqft |
Bangor's median square footage for active listings during the 2022-04-01 period was 1,547 sqft. One year prior, the average listing was 1,690 sqft.