Boston USDA Loans

Boston-Cambridge-Newton, MA-NH

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.

Boston's 44 lenders originated 102 USDA loans during 2021. The total origination value was $35,250,000, with an average USDA loan value of $345,588.

Boston USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Boston averaged 5.38% for the week of 2022-08-05, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-07-29) was 5.1% and one month ago for the week of 2022-07-01, the average rate was 5.34%.

The average rate one year ago was 3.12%.

For refis of the same type during the week of 2022-08-05, the average rate was 4.98%.

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

Boston 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 Boston level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
RESIDENTIAL MORTGAGE SERVICES, INC. 12 2.77% $7,578
LEADERONE FINANCIAL CORPORATION 6 2.92% $6,097
MOVEMENT MORTGAGE, LLC 6 3.08% $6,826
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 4 2.94% $5,262
Paramount Residential Mortgage Group, Inc. 3 2.75% $5,540
LOANDEPOT.COM, LLC 3 3.29% $6,879
Envision Bank 3 2.58% $5,768
NEWREZ LLC 3 2.87% $6,810
CONWAY FINANCIAL SERVICES, LLC 3 3.13% $7,343
FINANCE OF AMERICA MORTGAGE LLC 3 3.04% $7,313
CALIBER HOME LOANS, INC. 3 2.42% $8,346
RADIUS FINANCIAL GROUP INC. 2 2.88% $6,686
NORTHPOINT MORTGAGE, INC. 2 2.50% $5,888
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 2.38% $6,358
Sierra Pacific Mortgage Company, Inc. 2 3.31% $7,043
FIRST HOME MORTGAGE CORPORATION 2 2.69% $10,555
CMG MORTGAGE, INC. 2 2.50% $6,068
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.06% $7,191
GUILD MORTGAGE COMPANY 2 3.06% $7,608
PENNYMAC LOAN SERVICES, LLC 1 3.25% $6,499
Poli Mortgage Group, Inc. 1 2.63% $5,794
Service Federal Credit Union 1 2.88% $6,465
The Camden National Bank 1 2.88% $7,484
TOTAL MORTGAGE SERVICES, LLC 1 3.25% $8,087
UNITED WHOLESALE MORTGAGE, LLC 1 2.87% $6,345
Waterstone Mortgage Corporation 1 3.50% $6,972
Bank of England 1 3.88% $9,119
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.75% $7,869
CROSSCOUNTRY MORTGAGE, LLC 1 2.88% $5,621
EMM LOANS LLC 1 2.38% $7,161
Farm Credit East, ACA 1 4.00% $24,372
First Guaranty Mortgage Corporation 1 2.88% $8,588
Flagstar Bank, FSB 1 2.50% $5,937
GUARANTEED RATE AFFINITY, LLC 1 3.25% $5,355
GUARANTEED RATE, INC. 1 2.75% $7,855
HARBORONE MORTGAGE, LLC 1 2.88% $8,536
HOME POINT FINANCIAL CORPORATION 1 2.63% $6,539
HOMESIDE FINANCIAL, LLC 1 3.50% $7,430
HOMESPIRE MORTGAGE CORPORATION 1 2.75% $7,421
HUNT MORTGAGE CORPORATION 1 2.50% $6,958
Magnolia Bank 1 2.75% $8,819
MORTGAGE EQUITY PARTNERS LLC 1 2.88% $9,372
Northpointe Bank 1 3.00% $8,371
OCEANSIDE MORTGAGE COMPANY 1 2.99% $2,668

The top Boston USDA lender as defined by loan originations is RESIDENTIAL MORTGAGE SERVICES, INC., with 12 USDA loans originated. Their average total fees are $7,578, which is $1,481 higher than the next largest lender, LEADERONE FINANCIAL CORPORATION.

The lowest fee Boston USDA lenders (with over 10 loans originated) are RESIDENTIAL MORTGAGE SERVICES, INC. ($7,578), .

The lowest rate Boston USDA lenders (with over 10 loans originated) are RESIDENTIAL MORTGAGE SERVICES, INC. (2.77%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Boston (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 $529,000 (5.9%) $852,362 (3.9%) 1.95 6,241
2018-02-01 $542,673 (4.5%) $872,304 (3.0%) 1.96 6,214
2018-03-01 $569,900 (5.6%) $898,570 (4.3%) 1.97 6,803
2018-04-01 $579,000 (5.4%) $894,248 (2.8%) 1.94 7,979
2018-05-01 $579,948 (5.5%) $891,075 (3.5%) 1.93 9,070
2018-06-01 $575,000 (4.6%) $870,299 (2.3%) 1.92 10,569
2018-07-01 $556,998 (1.5%) $844,756 (1.1%) 1.86 10,475
2018-08-01 $547,958 (4.0%) $818,420 (0.5%) 1.83 10,501
2018-09-01 $549,000 (3.6%) $801,335 (-1.2%) 1.84 11,776
2018-10-01 $549,000 (1.8%) $794,856 (-3.4%) 1.84 12,025
2018-11-01 $539,450 (0.0%) $793,441 (-3.8%) 1.81 11,348
2018-12-01 $535,000 (1.1%) $794,612 (-5.6%) 1.83 8,996
2019-01-01 $534,450 (1.0%) $800,270 (-6.1%) 1.84 7,818
2019-02-01 $549,450 (1.3%) $844,504 (-3.2%) 1.84 7,592
2019-03-01 $571,214 (0.2%) $875,287 (-2.6%) 1.86 8,263
2019-04-01 $599,700 (3.6%) $905,908 (1.3%) 1.89 9,134
2019-05-01 $599,950 (3.5%) $916,397 (2.8%) 1.85 10,323
2019-06-01 $599,900 (4.3%) $914,904 (5.1%) 1.85 11,544
2019-07-01 $599,900 (7.7%) $905,719 (7.2%) 1.86 11,082
2019-08-01 $591,329 (7.9%) $885,926 (8.3%) 1.86 11,110
2019-09-01 $579,450 (5.6%) $865,717 (8.0%) 1.84 11,377
2019-10-01 $586,250 (6.8%) $880,789 (10.8%) 1.87 11,535
2019-11-01 $589,900 (9.4%) $902,980 (13.8%) 1.90 10,150
2019-12-01 $587,000 (9.7%) $911,445 (14.7%) 1.96 7,353
2020-01-01 $582,500 (9.0%) $925,593 (15.7%) 1.94 6,053
2020-02-01 $599,900 (9.2%) $968,283 (14.7%) 1.94 5,960
2020-03-01 $629,900 (10.3%) $976,960 (11.6%) 1.97 6,860
2020-04-01 $616,500 (2.8%) $939,971 (3.8%) 1.92 6,710
2020-05-01 $629,900 (5.0%) $940,920 (2.7%) 1.91 7,475
2020-06-01 $654,500 (9.1%) $996,174 (8.9%) 1.91 8,057
2020-07-01 $675,000 (12.5%) $1,029,426 (13.7%) 1.93 7,646
2020-08-01 $679,000 (14.8%) $1,040,454 (17.4%) 1.94 7,382
2020-09-01 $677,000 (16.8%) $1,033,568 (19.4%) 1.93 7,760
2020-10-01 $669,000 (14.1%) $1,030,994 (17.1%) 1.91 8,156
2020-11-01 $654,500 (11.0%) $1,032,525 (14.4%) 1.87 7,347
2020-12-01 $649,000 (10.6%) $1,014,973 (11.4%) 1.90 5,491
2021-01-01 $660,000 (13.3%) $1,070,483 (15.7%) 1.94 4,241
2021-02-01 $679,900 (13.3%) $1,121,272 (15.8%) 1.96 3,996
2021-03-01 $682,000 (8.3%) $1,135,065 (16.2%) 1.91 4,394
2021-04-01 $699,000 (13.4%) $1,192,587 (26.9%) 1.88 5,015
2021-05-01 $699,900 (11.1%) $1,192,755 (26.8%) 1.84 5,108
2021-06-01 $699,450 (6.9%) $1,152,833 (15.7%) 1.82 6,032
2021-07-01 $677,450 (0.4%) $1,126,929 (9.5%) 1.76 5,888
2021-08-01 $650,000 (-4.3%) $1,078,666 (3.7%) 1.71 5,797
2021-09-01 $674,600 (-0.4%) $1,062,031 (2.8%) 1.78 6,287
2021-10-01 $689,000 (3.0%) $1,070,318 (3.8%) 1.81 6,224
2021-11-01 $677,450 (3.5%) $1,086,661 (5.2%) 1.79 5,184
2021-12-01 $694,500 (7.0%) $1,146,193 (12.9%) 1.85 3,715
2022-01-01 $724,900 (9.8%) $1,225,745 (14.5%) 1.93 2,826
2022-02-01 $749,450 (10.2%) $1,264,133 (12.7%) 1.91 2,810
2022-03-01 $754,950 (10.7%) $1,286,322 (13.3%) 1.86 3,186
2022-04-01 $759,000 (8.6%) $1,264,452 (6.0%) 1.79 3,936
2022-05-01 $771,950 (10.3%) $1,265,087 (6.1%) 1.73 4,754
2022-06-01 $759,450 (8.6%) $1,192,152 (3.4%) 1.69 6,059
Boston's median listing price for 2022-06-01 was $759,450, a difference of $60,000 (8.6%) versus the prior year and $-12,500 versus the prior month.

Boston's median listing price comes in at 169% of the national average.

Boston's average listing price for 2022-06-01 was $1,192,152, a difference of $39,319 (3.4%) versus the prior year and $-72,935 versus the prior month.

For the 2022-06-01 period, Boston had 6,059 MLS listings, a difference of 1,305 listings (27%) versus the prior month and 27 listings (0%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Boston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 78 days 2,015 sqft
2018-02-01 68 days 2,035 sqft
2018-03-01 38 days 2,063 sqft
2018-04-01 31 days 2,044 sqft
2018-05-01 30 days 2,064 sqft
2018-06-01 33 days 2,056 sqft
2018-07-01 44 days 2,043 sqft
2018-08-01 47 days 2,021 sqft
2018-09-01 45 days 2,000 sqft
2018-10-01 45 days 1,977 sqft
2018-11-01 52 days 1,959 sqft
2018-12-01 66 days 1,952 sqft
2019-01-01 73 days 1,926 sqft
2019-02-01 62 days 1,950 sqft
2019-03-01 43 days 1,995 sqft
2019-04-01 34 days 2,038 sqft
2019-05-01 34 days 2,053 sqft
2019-06-01 37 days 2,060 sqft
2019-07-01 49 days 2,035 sqft
2019-08-01 57 days 2,012 sqft
2019-09-01 51 days 1,984 sqft
2019-10-01 48 days 1,984 sqft
2019-11-01 57 days 1,984 sqft
2019-12-01 74 days 1,949 sqft
2020-01-01 80 days 1,930 sqft
2020-02-01 50 days 1,983 sqft
2020-03-01 32 days 2,014 sqft
2020-04-01 45 days 2,001 sqft
2020-05-01 53 days 2,016 sqft
2020-06-01 34 days 1,991 sqft
2020-07-01 37 days 1,912 sqft
2020-08-01 37 days 1,864 sqft
2020-09-01 33 days 1,746 sqft
2020-10-01 32 days 1,707 sqft
2020-11-01 46 days 1,701 sqft
2020-12-01 60 days 1,695 sqft
2021-01-01 64 days 1,667 sqft
2021-02-01 37 days 1,674 sqft
2021-03-01 25 days 1,682 sqft
2021-04-01 22 days 1,668 sqft
2021-05-01 22 days 1,692 sqft
2021-06-01 22 days 1,702 sqft
2021-07-01 30 days 1,707 sqft
2021-08-01 31 days 1,712 sqft
2021-09-01 29 days 1,691 sqft
2021-10-01 30 days 1,661 sqft
2021-11-01 40 days 1,631 sqft
2021-12-01 52 days 1,650 sqft
2022-01-01 58 days 1,658 sqft
2022-02-01 29 days 1,663 sqft
2022-03-01 21 days 1,673 sqft
2022-04-01 17 days 1,699 sqft
2022-05-01 16 days 1,783 sqft
2022-06-01 21 days 1,813 sqft
Boston's median listing age (time on market) for 2022-06-01 was 21 days. This is -7% shorter than the same period one year ago.

Boston's median square footage for active listings during the 2022-06-01 period was 1,813 sqft. One year prior, the average listing was 1,702 sqft.