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 6.11% for the week of 2023-12-08, compared to the national average (all USDA variants) of 6.821% for the same period.

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

The average rate for the prior week (2023-12-01) was 6.45% and one month ago for the week of 2023-11-03, the average rate was 6.9%.

The average rate one year ago was 5.9%.

For refis of the same type during the week of 2023-12-08, the average rate was 4.95%.

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 .