Boston USDA Loan Rates, Closing Costs & Stats

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 17 lenders originated 30 USDA loans during 2022. The total origination value was $9,780,000, with an average USDA loan value of $326,000.

Boston USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Boston averaged 5.92% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

Boston's average USDA mortgage closing costs are $7,297.

The average rate for the prior week (2023-05-19) was 5.86% and one month ago for the week of 2023-04-21, the average rate was 5.67%.

The average rate one year ago was 4.69%.

For refis of the same type during the week of 2023-05-26, the average rate was 4.75%.

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

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
GUILD MORTGAGE COMPANY 5 4.35% $7,460
UNITED WHOLESALE MORTGAGE, LLC 3 4.33% $7,518
CMG MORTGAGE, INC. 2 5.44% $10,872
EQUITY RESOURCES, INC. 2 3.25% $8,599
HOME POINT FINANCIAL CORPORATION 2 4.24% $7,242
CALIBER HOME LOANS, INC. 2 3.46% $7,372
Mortgage Network, Inc. 2 5.81% $12,803
MOVEMENT MORTGAGE, LLC 2 4.63% $7,454
RADIUS FINANCIAL GROUP INC. 2 3.19% $8,106
Service Federal Credit Union 1 5.88% $6,770
Sierra Pacific Mortgage Company, Inc. 1 3.00% $5,842
PENNYMAC LOAN SERVICES, LLC 1 2.88% $6,379
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.38% $7,524
Bank of New Hampshire 1 2.38% $5,627
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.99% $16,068
Evolve Bank & Trust 1 5.13% $7,466
American Mortgage & Equity Consultants, Inc. 1 6.38% $15,154

The top Boston USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 5 USDA loans originated. Their average total fees are $7,460, which is $58 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Boston USDA lenders (with over 10 loans originated) are .

The lowest rate Boston USDA lenders (with over 10 loans originated) are .


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 $529,450 (6.0%) $858,987 (4.0%) 1.96 6,025
2018-02-01 $543,950 (5.6%) $875,742 (3.2%) 1.98 6,009
2018-03-01 $574,900 (6.5%) $907,100 (4.8%) 2.02 6,566
2018-04-01 $579,900 (5.5%) $899,962 (2.9%) 1.97 7,728
2018-05-01 $584,900 (6.3%) $896,109 (3.6%) 1.95 8,784
2018-06-01 $579,000 (5.3%) $876,249 (2.5%) 1.93 10,209
2018-07-01 $559,450 (1.9%) $857,084 (1.9%) 1.87 10,107
2018-08-01 $549,221 (3.6%) $825,027 (0.4%) 1.84 10,163
2018-09-01 $549,900 (3.8%) $806,874 (-1.5%) 1.85 11,374
2018-10-01 $549,000 (1.7%) $799,602 (-3.6%) 1.86 11,629
2018-11-01 $539,400 (-0.1%) $798,331 (-3.9%) 1.83 10,958
2018-12-01 $535,000 (1.1%) $798,852 (-5.6%) 1.85 8,829
2019-01-01 $533,153 (0.7%) $806,479 (-6.1%) 1.84 7,548
2019-02-01 $549,450 (1.0%) $851,412 (-2.8%) 1.86 7,342
2019-03-01 $589,000 (2.5%) $894,394 (-1.4%) 1.96 7,806
2019-04-01 $599,900 (3.5%) $914,262 (1.6%) 1.90 8,932
2019-05-01 $602,450 (3.0%) $923,103 (3.0%) 1.88 9,956
2019-06-01 $599,900 (3.6%) $919,140 (4.9%) 1.87 11,103
2019-07-01 $599,900 (7.2%) $910,925 (6.3%) 1.88 10,611
2019-08-01 $599,900 (9.2%) $912,410 (10.6%) 1.88 10,275
2019-09-01 $599,450 (9.0%) $921,084 (14.2%) 1.89 9,701
2019-10-01 $587,346 (7.0%) $888,289 (11.1%) 1.90 11,043
2019-11-01 $589,900 (9.4%) $915,519 (14.7%) 1.93 9,643
2019-12-01 $589,450 (10.2%) $917,012 (14.8%) 1.97 7,015
2020-01-01 $586,450 (10.0%) $930,307 (15.4%) 1.96 5,784
2020-02-01 $599,900 (9.2%) $971,649 (14.1%) 1.96 5,753
2020-03-01 $629,900 (6.9%) $980,194 (9.6%) 1.97 6,620
2020-04-01 $617,450 (2.9%) $945,817 (3.5%) 1.93 6,437
2020-05-01 $629,900 (4.6%) $945,278 (2.4%) 1.91 7,202
2020-06-01 $656,448 (9.4%) $1,002,118 (9.0%) 1.93 7,782
2020-07-01 $677,000 (12.9%) $1,036,368 (13.8%) 1.96 7,393
2020-08-01 $675,000 (12.5%) $1,042,771 (14.3%) 1.93 7,190
2020-09-01 $672,500 (12.2%) $1,038,852 (12.8%) 1.93 7,578
2020-10-01 $665,000 (13.2%) $1,033,066 (16.3%) 1.91 7,945
2020-11-01 $654,450 (10.9%) $1,028,284 (12.3%) 1.91 7,088
2020-12-01 $646,999 (9.8%) $1,004,176 (9.5%) 1.92 5,304
2021-01-01 $659,000 (12.4%) $1,075,105 (15.6%) 1.97 4,101
2021-02-01 $679,450 (13.3%) $1,128,380 (16.1%) 1.98 3,873
2021-03-01 $682,350 (8.3%) $1,144,192 (16.7%) 1.94 4,269
2021-04-01 $694,000 (12.4%) $1,179,216 (24.7%) 1.88 4,775
2021-05-01 $699,900 (11.1%) $1,180,369 (24.9%) 1.86 4,883
2021-06-01 $697,225 (6.2%) $1,144,642 (14.2%) 1.84 5,736
2021-07-01 $669,900 (-1.1%) $1,113,618 (7.5%) 1.77 5,673
2021-08-01 $650,000 (-3.7%) $1,075,195 (3.1%) 1.73 5,572
2021-09-01 $671,000 (-0.2%) $1,055,532 (1.6%) 1.79 6,018
2021-10-01 $679,000 (2.1%) $1,062,841 (2.9%) 1.81 5,926
2021-11-01 $674,520 (3.1%) $1,073,459 (4.4%) 1.80 4,934
2021-12-01 $692,000 (7.0%) $1,141,086 (13.6%) 1.87 3,502
2022-01-01 $716,500 (8.7%) $1,220,200 (13.5%) 1.94 2,675
2022-02-01 $749,000 (10.2%) $1,237,957 (9.7%) 1.95 2,637
2022-03-01 $749,450 (9.8%) $1,253,974 (9.6%) 1.88 2,989
2022-04-01 $749,000 (7.9%) $1,243,220 (5.4%) 1.79 3,700
2022-05-01 $757,500 (8.2%) $1,242,168 (5.2%) 1.73 4,474
2022-06-01 $750,000 (7.6%) $1,172,828 (2.5%) 1.67 5,715
2022-07-01 $739,900 (10.5%) $1,110,720 (-0.3%) 1.67 6,177
2022-08-01 $725,000 (11.5%) $1,108,135 (3.1%) 1.67 5,758
2022-09-01 $744,000 (10.9%) $1,145,197 (8.5%) 1.74 5,912
2022-10-01 $749,000 (10.3%) $1,169,524 (10.0%) 1.76 6,222
2022-11-01 $744,925 (10.4%) $1,176,829 (9.6%) 1.79 5,902
2022-12-01 $749,000 (8.2%) $1,200,260 (5.2%) 1.85 4,406
2023-01-01 $759,450 (6.0%) $1,238,122 (1.5%) 1.88 3,696
2023-02-01 $799,000 (6.7%) $1,345,591 (8.7%) 1.93 3,433
2023-03-01 $824,000 (10.0%) $1,387,820 (10.7%) 1.94 3,705
2023-04-01 $839,000 (12.0%) $1,422,134 (14.4%) 1.95 4,059
Boston's median listing price for 2023-04-01 was $839,000, a difference of $90,000 (12.0%) versus the prior year and $15,000 versus the prior month.

Boston's median listing price comes in at 195% of the national average.

Boston's average listing price for 2023-04-01 was $1,422,134, a difference of $178,914 (14.4%) versus the prior year and $34,314 versus the prior month.

For the 2023-04-01 period, Boston had 4,059 MLS listings, a difference of 354 listings (10%) versus the prior month and 359 listings (10%) 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 79 days 2,008 sqft
2018-02-01 67 days 2,025 sqft
2018-03-01 38 days 2,061 sqft
2018-04-01 31 days 2,042 sqft
2018-05-01 30 days 2,055 sqft
2018-06-01 33 days 2,044 sqft
2018-07-01 44 days 2,033 sqft
2018-08-01 47 days 2,011 sqft
2018-09-01 45 days 1,989 sqft
2018-10-01 45 days 1,966 sqft
2018-11-01 52 days 1,946 sqft
2018-12-01 66 days 1,937 sqft
2019-01-01 73 days 1,907 sqft
2019-02-01 63 days 1,925 sqft
2019-03-01 42 days 2,011 sqft
2019-04-01 33 days 2,026 sqft
2019-05-01 34 days 2,045 sqft
2019-06-01 38 days 2,054 sqft
2019-07-01 49 days 2,036 sqft
2019-08-01 64 days 2,056 sqft
2019-09-01 62 days 2,046 sqft
2019-10-01 47 days 1,981 sqft
2019-11-01 58 days 1,981 sqft
2019-12-01 77 days 1,932 sqft
2020-01-01 81 days 1,909 sqft
2020-02-01 46 days 1,959 sqft
2020-03-01 32 days 2,000 sqft
2020-04-01 46 days 1,996 sqft
2020-05-01 53 days 2,000 sqft
2020-06-01 33 days 1,966 sqft
2020-07-01 37 days 1,890 sqft
2020-08-01 38 days 1,842 sqft
2020-09-01 33 days 1,733 sqft
2020-10-01 32 days 1,692 sqft
2020-11-01 48 days 1,668 sqft
2020-12-01 63 days 1,652 sqft
2021-01-01 62 days 1,640 sqft
2021-02-01 36 days 1,652 sqft
2021-03-01 24 days 1,665 sqft
2021-04-01 19 days 1,668 sqft
2021-05-01 20 days 1,693 sqft
2021-06-01 20 days 1,709 sqft
2021-07-01 30 days 1,710 sqft
2021-08-01 32 days 1,709 sqft
2021-09-01 29 days 1,685 sqft
2021-10-01 30 days 1,654 sqft
2021-11-01 39 days 1,630 sqft
2021-12-01 50 days 1,649 sqft
2022-01-01 57 days 1,650 sqft
2022-02-01 25 days 1,662 sqft
2022-03-01 18 days 1,672 sqft
2022-04-01 16 days 1,685 sqft
2022-05-01 16 days 1,787 sqft
2022-06-01 18 days 1,813 sqft
2022-07-01 27 days 1,826 sqft
2022-08-01 35 days 1,832 sqft
2022-09-01 34 days 1,815 sqft
2022-10-01 32 days 1,812 sqft
2022-11-01 42 days 1,804 sqft
2022-12-01 58 days 1,836 sqft
2023-01-01 63 days 1,841 sqft
2023-02-01 38 days 1,862 sqft
2023-03-01 30 days 1,860 sqft
2023-04-01 26 days 1,849 sqft
Boston's median listing age (time on market) for 2023-04-01 was 26 days. This is 63% longer than the same period one year ago.

Boston's median square footage for active listings during the 2023-04-01 period was 1,849 sqft. One year prior, the average listing was 1,685 sqft.