Bangor USDA Loan Rates, Closing Costs & Stats

BANGOR, ME

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    • 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 12 lenders originated 42 USDA loans during 2023. The total origination value was $8,510,000, with an average USDA loan value of $202,619.

    Bangor USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Bangor averaged 6.67% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Bangor's average USDA mortgage closing costs are $4,557.

    The average rate for the prior week (2024-04-12) was 6.63% and one month ago for the week of 2024-03-15, the average rate was 6.71%.

    The average rate one year ago was 6.25%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Bangor 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 Bangor level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Bangor Savings Bank 11 5.51% $5,615
    CUSO MORTGAGE CORPORATION 5 5.68% $5,555
    LEADERONE FINANCIAL CORPORATION 4 6.81% $6,453
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 5.50% $5,912
    The Camden National Bank 2 5.73% $5,149
    BROKER SOLUTIONS, INC. 2 6.38% $9,221
    GUILD MORTGAGE COMPANY 1 5.50% $5,387
    EMBRACE HOME LOANS, INC. 1 6.75% $6,650
    LOANDEPOT.COM, LLC 1 7.25% $7,881
    Machias Savings Bank 1 5.45% $4,646
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $6,816
    CROSSCOUNTRY MORTGAGE, LLC 1 5.50% $5,906

    The top Bangor USDA lender as defined by loan originations is Bangor Savings Bank, with 11 USDA loans originated. Their average total fees are $5,615, which is $60 higher than the next largest lender, CUSO MORTGAGE CORPORATION.

    The lowest fee Bangor USDA lenders (with over 10 loans originated) are Bangor Savings Bank ($5,615), .

    The lowest rate Bangor USDA lenders (with over 10 loans originated) are Bangor Savings Bank (5.51%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bangor (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 $148,000 (-0.7%) $181,180 (-3.2%) 0.55 789
    2018-02-01 $144,850 (-3.3%) $182,807 (-2.9%) 0.53 723
    2018-03-01 $149,250 (-1.8%) $188,936 (-1.2%) 0.52 712
    2018-04-01 $149,900 (-5.7%) $191,298 (-2.3%) 0.51 727
    2018-05-01 $159,000 (-0.6%) $197,646 (2.2%) 0.53 761
    2018-06-01 $164,000 (2.6%) $202,033 (4.5%) 0.55 816
    2018-07-01 $169,000 (6.3%) $208,976 (10.1%) 0.56 903
    2018-08-01 $166,722 (9.3%) $205,057 (9.0%) 0.56 913
    2018-09-01 $168,000 (8.5%) $198,264 (3.5%) 0.56 883
    2018-10-01 $159,900 (3.2%) $191,212 (-0.7%) 0.54 892
    2018-11-01 $159,900 (6.7%) $190,366 (0.3%) 0.54 848
    2018-12-01 $157,500 (5.4%) $185,087 (-1.0%) 0.54 773
    2019-01-01 $154,900 (4.7%) $182,611 (0.8%) 0.54 712
    2019-02-01 $159,450 (10.1%) $188,379 (3.1%) 0.54 686
    2019-03-01 $162,043 (8.6%) $194,815 (3.1%) 0.53 653
    2019-04-01 $165,575 (10.5%) $199,614 (4.4%) 0.53 628
    2019-05-01 $165,000 (3.8%) $203,114 (2.8%) 0.52 680
    2019-06-01 $169,000 (3.1%) $207,206 (2.6%) 0.53 751
    2019-07-01 $169,900 (0.5%) $207,426 (-0.7%) 0.53 815
    2019-08-01 $169,900 (1.9%) $206,617 (0.8%) 0.54 812
    2019-09-01 $169,900 (1.1%) $209,651 (5.7%) 0.54 766
    2019-10-01 $169,900 (6.3%) $212,039 (10.9%) 0.55 731
    2019-11-01 $169,900 (6.3%) $208,443 (9.5%) 0.56 682
    2019-12-01 $165,000 (4.8%) $207,664 (12.2%) 0.55 624
    2020-01-01 $165,000 (6.5%) $209,794 (14.9%) 0.55 565
    2020-02-01 $165,000 (3.5%) $209,883 (11.4%) 0.54 541
    2020-03-01 $166,475 (2.7%) $212,764 (9.2%) 0.52 527
    2020-04-01 $165,600 (0.0%) $205,152 (2.8%) 0.52 512
    2020-05-01 $179,900 (9.0%) $215,016 (5.9%) 0.55 480
    2020-06-01 $177,425 (5.0%) $217,170 (4.8%) 0.52 451
    2020-07-01 $192,000 (13.0%) $226,109 (9.0%) 0.56 436
    2020-08-01 $184,450 (8.6%) $223,009 (7.9%) 0.53 396
    2020-09-01 $182,700 (7.5%) $219,146 (4.5%) 0.52 396
    2020-10-01 $174,950 (3.0%) $217,465 (2.6%) 0.50 371
    2020-11-01 $179,900 (5.9%) $225,636 (8.3%) 0.53 360
    2020-12-01 $189,225 (14.7%) $232,910 (12.2%) 0.56 325
    2021-01-01 $185,250 (12.3%) $235,518 (12.3%) 0.55 269
    2021-02-01 $204,000 (23.6%) $245,362 (16.9%) 0.59 206
    2021-03-01 $217,175 (30.5%) $255,297 (20.0%) 0.62 185
    2021-04-01 $219,250 (32.4%) $263,925 (28.7%) 0.59 185
    2021-05-01 $229,000 (27.3%) $269,771 (25.5%) 0.61 225
    2021-06-01 $238,700 (34.5%) $280,498 (29.2%) 0.63 275
    2021-07-01 $234,900 (22.3%) $286,166 (26.6%) 0.62 320
    2021-08-01 $227,450 (23.3%) $273,909 (22.8%) 0.61 377
    2021-09-01 $229,900 (25.8%) $273,210 (24.7%) 0.61 377
    2021-10-01 $219,900 (25.7%) $263,683 (21.3%) 0.59 332
    2021-11-01 $219,000 (21.7%) $266,541 (18.1%) 0.59 309
    2021-12-01 $199,975 (5.7%) $265,428 (14.0%) 0.54 259
    2022-01-01 $199,500 (7.7%) $278,439 (18.2%) 0.54 185
    2022-02-01 $199,975 (-2.0%) $282,487 (15.1%) 0.52 175
    2022-03-01 $224,950 (3.6%) $281,311 (10.2%) 0.56 179
    2022-04-01 $239,450 (9.2%) $273,186 (3.5%) 0.57 181
    2022-05-01 $245,500 (7.2%) $276,661 (2.6%) 0.56 225
    2022-06-01 $249,500 (4.5%) $298,761 (6.5%) 0.56 306
    2022-07-01 $248,700 (5.9%) $319,201 (11.5%) 0.56 339
    2022-08-01 $234,950 (3.3%) $312,661 (14.2%) 0.54 357
    2022-09-01 $244,450 (6.3%) $321,540 (17.7%) 0.57 336
    2022-10-01 $249,000 (13.2%) $314,750 (19.4%) 0.59 327
    2022-11-01 $242,250 (10.6%) $303,641 (13.9%) 0.58 305
    2022-12-01 $232,450 (16.2%) $300,355 (13.2%) 0.57 258
    2023-01-01 $229,900 (15.2%) $302,589 (8.7%) 0.57 223
    2023-02-01 $243,350 (21.7%) $316,042 (11.9%) 0.59 199
    2023-03-01 $249,500 (10.9%) $324,152 (15.2%) 0.59 177
    2023-04-01 $265,000 (10.7%) $341,580 (25.0%) 0.62 167
    2023-05-01 $275,750 (12.3%) $345,852 (25.0%) 0.63 182
    2023-06-01 $287,000 (15.0%) $339,285 (13.6%) 0.64 223
    2023-07-01 $299,000 (20.2%) $378,308 (18.5%) 0.68 273
    2023-08-01 $297,000 (26.4%) $377,006 (20.6%) 0.68 294
    2023-09-01 $285,000 (16.6%) $365,000 (13.5%) 0.66 305
    2023-10-01 $289,925 (16.4%) $365,269 (16.1%) 0.68 308
    2023-11-01 $293,950 (21.3%) $352,808 (16.2%) 0.70 314
    2023-12-01 $274,950 (18.3%) $343,521 (14.4%) 0.67 307
    2024-01-01 $278,500 (21.1%) $340,811 (12.6%) 0.68 271
    2024-02-01 $279,725 (15.0%) $353,584 (11.9%) 0.67 219
    2024-03-01 $289,561 (16.1%) $360,059 (11.1%) 0.68 233
    Bangor's median listing price for 2024-03-01 was $289,561, a difference of $40,061 (16.1%) versus the prior year and $9,836 versus the prior month.

    Bangor's median listing price comes in at 68% of the national average.

    Bangor's average listing price for 2024-03-01 was $360,059, a difference of $35,907 (11.1%) versus the prior year and $6,475 versus the prior month.

    For the 2024-03-01 period, Bangor had 233 MLS listings, a difference of 14 listings (6%) versus the prior month and 56 listings (32%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bangor (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 137 days 1,587 sqft
    2018-02-01 147 days 1,587 sqft
    2018-03-01 144 days 1,586 sqft
    2018-04-01 129 days 1,580 sqft
    2018-05-01 76 days 1,600 sqft
    2018-06-01 59 days 1,604 sqft
    2018-07-01 63 days 1,637 sqft
    2018-08-01 69 days 1,626 sqft
    2018-09-01 78 days 1,624 sqft
    2018-10-01 84 days 1,600 sqft
    2018-11-01 89 days 1,600 sqft
    2018-12-01 105 days 1,600 sqft
    2019-01-01 116 days 1,586 sqft
    2019-02-01 124 days 1,600 sqft
    2019-03-01 118 days 1,613 sqft
    2019-04-01 98 days 1,628 sqft
    2019-05-01 65 days 1,623 sqft
    2019-06-01 50 days 1,627 sqft
    2019-07-01 57 days 1,600 sqft
    2019-08-01 65 days 1,600 sqft
    2019-09-01 75 days 1,600 sqft
    2019-10-01 85 days 1,600 sqft
    2019-11-01 95 days 1,624 sqft
    2019-12-01 99 days 1,632 sqft
    2020-01-01 110 days 1,600 sqft
    2020-02-01 110 days 1,600 sqft
    2020-03-01 114 days 1,593 sqft
    2020-04-01 109 days 1,591 sqft
    2020-05-01 88 days 1,627 sqft
    2020-06-01 66 days 1,623 sqft
    2020-07-01 51 days 1,658 sqft
    2020-08-01 52 days 1,619 sqft
    2020-09-01 48 days 1,600 sqft
    2020-10-01 46 days 1,600 sqft
    2020-11-01 52 days 1,594 sqft
    2020-12-01 61 days 1,609 sqft
    2021-01-01 80 days 1,600 sqft
    2021-02-01 86 days 1,582 sqft
    2021-03-01 68 days 1,600 sqft
    2021-04-01 36 days 1,690 sqft
    2021-05-01 26 days 1,672 sqft
    2021-06-01 25 days 1,615 sqft
    2021-07-01 32 days 1,616 sqft
    2021-08-01 36 days 1,615 sqft
    2021-09-01 46 days 1,645 sqft
    2021-10-01 57 days 1,666 sqft
    2021-11-01 71 days 1,673 sqft
    2021-12-01 78 days 1,556 sqft
    2022-01-01 96 days 1,560 sqft
    2022-02-01 106 days 1,507 sqft
    2022-03-01 60 days 1,500 sqft
    2022-04-01 40 days 1,554 sqft
    2022-05-01 26 days 1,562 sqft
    2022-06-01 24 days 1,554 sqft
    2022-07-01 33 days 1,579 sqft
    2022-08-01 41 days 1,540 sqft
    2022-09-01 50 days 1,645 sqft
    2022-10-01 58 days 1,686 sqft
    2022-11-01 63 days 1,583 sqft
    2022-12-01 85 days 1,510 sqft
    2023-01-01 104 days 1,544 sqft
    2023-02-01 115 days 1,581 sqft
    2023-03-01 109 days 1,622 sqft
    2023-04-01 36 days 1,680 sqft
    2023-05-01 29 days 1,618 sqft
    2023-06-01 28 days 1,623 sqft
    2023-07-01 31 days 1,614 sqft
    2023-08-01 38 days 1,633 sqft
    2023-09-01 41 days 1,605 sqft
    2023-10-01 43 days 1,613 sqft
    2023-11-01 47 days 1,600 sqft
    2023-12-01 65 days 1,598 sqft
    2024-01-01 87 days 1,589 sqft
    2024-02-01 106 days 1,593 sqft
    2024-03-01 70 days 1,525 sqft
    Bangor's median listing age (time on market) for 2024-03-01 was 70 days. This is -36% shorter than the same period one year ago.

    Bangor's median square footage for active listings during the 2024-03-01 period was 1,525 sqft. One year prior, the average listing was 1,622 sqft.