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%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bangor level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Bangor Savings Bank 32 2.84% $4,926
RESIDENTIAL MORTGAGE SERVICES, INC. 21 2.73% $5,108
Mortgage Network, Inc. 15 2.95% $4,917
CUSO MORTGAGE CORPORATION 12 2.90% $4,834
PRIMARY RESIDENTIAL MORTGAGE, INC. 8 3.19% $6,846
CMG MORTGAGE, INC. 7 2.96% $5,283
LEADERONE FINANCIAL CORPORATION 7 2.98% $4,128
ACADEMY MORTGAGE CORPORATION 6 3.33% $4,941
University Credit Union 4 2.88% $4,185
CROSSCOUNTRY MORTGAGE, LLC 4 2.97% $4,923
The Camden National Bank 4 2.84% $5,466
Machias Savings Bank 3 2.88% $3,040
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.06% $4,851
OCMBC, INC. 2 3.00% $5,791
AMERICAN FINANCIAL RESOURCES, INC. 2 3.50% $3,497
Paramount Residential Mortgage Group, Inc. 2 3.13% $5,910
EMBRACE HOME LOANS, INC. 2 3.00% $5,107
DAS Acquisition Company, LLC 1 2.88% $5,988
Servion, Inc. 1 2.75% $4,557
TOTAL MORTGAGE SERVICES, LLC 1 3.25% $6,512
UNITED WHOLESALE MORTGAGE, LLC 1 3.00% $5,454
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.25% $6,297
First National Bank 1 2.88% $3,797
HOME POINT FINANCIAL CORPORATION 1 2.75% $4,282
EVERETT FINANCIAL, INC. 1 2.88% $4,037
NEWREZ LLC 1 3.25% $4,096
OCEANSIDE MORTGAGE COMPANY 1 2.99% $1,685
PENNYMAC LOAN SERVICES, LLC 1 2.88% $4,796

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. Louis
Date 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 for 2022-04-01 was $240,000, a difference of $20,500 (9.3%) versus the prior year and $8,000 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2022-04-01 was 57 days. This is 25% longer than the same period one year ago.

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.