Bangor USDA Loans

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 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.