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 6 lenders originated 9 USDA loans during 2023. The total origination value was $2,825,000, with an average USDA loan value of $313,889.

Boston USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Boston averaged 6.57% for the week of 2024-05-10, compared to the national average (all USDA variants) of 6.785% for the same period.

Boston's average USDA mortgage closing costs are $7,322.

The average rate for the prior week (2024-05-03) was 6.75% and one month ago for the week of 2024-04-05, the average rate was 6.21%.

The average rate one year ago was 6%.

For refis of the same type during the week of 2024-05-10, the average rate was 6.41%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
GUILD MORTGAGE COMPANY 2 6.06% $7,653
The Camden National Bank 2 6.56% $12,146
Bank of England 1 5.50% $9,915
CMG MORTGAGE, INC. 1 6.75% $5,530
HARBORONE MORTGAGE, LLC 1 7.25% $9,189
LOANDEPOT.COM, LLC 1 6.25% $8,702

The top Boston USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 2 USDA loans originated. Their average total fees are $7,653, which is $4,493 lower than the next largest lender, The Camden National Bank.

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%) $858,963 (4.0%) 1.96 6,024
2018-02-01 $543,925 (5.6%) $875,791 (3.2%) 1.97 6,008
2018-03-01 $574,900 (6.5%) $907,076 (4.8%) 2.02 6,565
2018-04-01 $579,900 (5.5%) $900,058 (2.9%) 1.97 7,726
2018-05-01 $584,950 (6.2%) $896,235 (3.6%) 1.95 8,781
2018-06-01 $579,000 (5.3%) $876,303 (2.5%) 1.93 10,206
2018-07-01 $559,450 (1.9%) $857,166 (1.9%) 1.87 10,104
2018-08-01 $549,250 (3.6%) $825,147 (0.4%) 1.84 10,159
2018-09-01 $549,900 (3.8%) $806,934 (-1.4%) 1.85 11,372
2018-10-01 $549,000 (1.7%) $799,585 (-3.4%) 1.86 11,626
2018-11-01 $539,450 (-0.1%) $798,226 (-3.9%) 1.83 10,956
2018-12-01 $535,000 (1.1%) $798,662 (-5.6%) 1.85 8,824
2019-01-01 $533,900 (0.8%) $806,251 (-6.1%) 1.84 7,542
2019-02-01 $549,450 (1.0%) $851,143 (-2.8%) 1.86 7,336
2019-03-01 $571,386 (-0.6%) $884,062 (-2.5%) 1.87 8,059
2019-04-01 $599,900 (3.5%) $914,562 (1.6%) 1.90 8,915
2019-05-01 $602,450 (3.0%) $922,731 (3.0%) 1.88 9,950
2019-06-01 $599,900 (3.6%) $918,784 (4.9%) 1.87 11,096
2019-07-01 $599,900 (7.2%) $910,775 (6.3%) 1.88 10,604
2019-08-01 $595,643 (8.5%) $898,138 (8.9%) 1.89 10,685
2019-09-01 $589,259 (7.2%) $887,066 (9.9%) 1.89 10,878
2019-10-01 $587,806 (7.1%) $889,481 (11.2%) 1.90 11,006
2019-11-01 $589,900 (9.4%) $915,321 (14.7%) 1.93 9,635
2019-12-01 $589,450 (10.2%) $917,211 (14.8%) 1.97 7,007
2020-01-01 $586,600 (9.9%) $930,603 (15.4%) 1.96 5,779
2020-02-01 $599,900 (9.2%) $971,896 (14.2%) 1.96 5,750
2020-03-01 $629,900 (10.2%) $980,367 (10.9%) 1.97 6,617
2020-04-01 $617,450 (2.9%) $945,955 (3.4%) 1.93 6,435
2020-05-01 $629,900 (4.6%) $945,400 (2.5%) 1.91 7,200
2020-06-01 $656,699 (9.5%) $1,002,177 (9.1%) 1.93 7,782
2020-07-01 $677,000 (12.9%) $1,036,335 (13.8%) 1.96 7,395
2020-08-01 $675,000 (13.3%) $1,042,698 (16.1%) 1.93 7,191
2020-09-01 $672,500 (14.1%) $1,038,799 (17.1%) 1.93 7,579
2020-10-01 $665,000 (13.1%) $1,033,141 (16.2%) 1.91 7,944
2020-11-01 $654,450 (10.9%) $1,028,460 (12.4%) 1.91 7,085
2020-12-01 $647,450 (9.8%) $1,004,412 (9.5%) 1.93 5,301
2021-01-01 $659,000 (12.3%) $1,075,330 (15.6%) 1.97 4,099
2021-02-01 $679,450 (13.3%) $1,128,313 (16.1%) 1.98 3,872
2021-03-01 $682,250 (8.3%) $1,144,108 (16.7%) 1.94 4,267
2021-04-01 $694,000 (12.4%) $1,179,014 (24.6%) 1.88 4,773
2021-05-01 $699,800 (11.1%) $1,180,392 (24.9%) 1.86 4,879
2021-06-01 $697,225 (6.2%) $1,144,455 (14.2%) 1.84 5,738
2021-07-01 $669,900 (-1.1%) $1,113,575 (7.5%) 1.77 5,674
2021-08-01 $650,000 (-3.7%) $1,075,177 (3.1%) 1.73 5,574
2021-09-01 $671,000 (-0.2%) $1,055,466 (1.6%) 1.79 6,019
2021-10-01 $679,000 (2.1%) $1,062,835 (2.9%) 1.81 5,929
2021-11-01 $674,577 (3.1%) $1,073,504 (4.4%) 1.80 4,935
2021-12-01 $692,000 (6.9%) $1,141,128 (13.6%) 1.87 3,501
2022-01-01 $715,000 (8.5%) $1,220,127 (13.5%) 1.93 2,675
2022-02-01 $749,000 (10.2%) $1,237,957 (9.7%) 1.95 2,637
2022-03-01 $749,450 (9.9%) $1,254,177 (9.6%) 1.88 2,991
2022-04-01 $749,450 (8.0%) $1,243,532 (5.5%) 1.79 3,701
2022-05-01 $757,500 (8.3%) $1,242,269 (5.2%) 1.73 4,474
2022-06-01 $750,000 (7.6%) $1,172,907 (2.5%) 1.67 5,715
2022-07-01 $739,900 (10.5%) $1,110,707 (-0.3%) 1.67 6,177
2022-08-01 $725,000 (11.5%) $1,108,059 (3.1%) 1.68 5,759
2022-09-01 $744,000 (10.9%) $1,144,989 (8.5%) 1.74 5,913
2022-10-01 $749,000 (10.3%) $1,169,410 (10.0%) 1.76 6,223
2022-11-01 $744,925 (10.4%) $1,176,768 (9.6%) 1.79 5,903
2022-12-01 $749,000 (8.2%) $1,199,762 (5.1%) 1.85 4,407
2023-01-01 $759,450 (6.2%) $1,238,021 (1.5%) 1.88 3,697
2023-02-01 $799,000 (6.7%) $1,345,477 (8.7%) 1.93 3,433
2023-03-01 $823,500 (9.9%) $1,387,500 (10.6%) 1.94 3,705
2023-04-01 $839,000 (12.0%) $1,422,134 (14.4%) 1.95 4,059
2023-05-01 $867,125 (14.5%) $1,444,230 (16.3%) 1.97 4,314
2023-06-01 $866,443 (15.5%) $1,425,311 (21.5%) 1.95 4,806
2023-07-01 $849,900 (14.9%) $1,434,805 (29.2%) 1.93 4,538
2023-08-01 $844,200 (16.4%) $1,418,399 (28.0%) 1.94 4,530
2023-09-01 $849,000 (14.1%) $1,420,742 (24.1%) 1.98 4,931
2023-10-01 $837,374 (11.8%) $1,400,665 (19.8%) 1.97 5,351
2023-11-01 $824,500 (10.7%) $1,383,873 (17.6%) 1.96 5,205
2023-12-01 $800,000 (6.8%) $1,388,573 (15.7%) 1.95 4,062
2024-01-01 $809,900 (6.6%) $1,405,646 (13.5%) 1.98 3,369
2024-02-01 $854,450 (6.9%) $1,496,024 (11.2%) 2.06 3,319
2024-03-01 $879,950 (6.9%) $1,528,390 (10.2%) 2.07 3,737
2024-04-01 $869,900 (3.7%) $1,489,605 (4.7%) 2.02 4,365
Boston's median listing price for 2024-04-01 was $869,900, a difference of $30,900 (3.7%) versus the prior year and $-10,050 versus the prior month.

Boston's median listing price comes in at 202% of the national average.

Boston's average listing price for 2024-04-01 was $1,489,605, a difference of $67,471 (4.7%) versus the prior year and $-38,785 versus the prior month.

For the 2024-04-01 period, Boston had 4,365 MLS listings, a difference of 628 listings (17%) versus the prior month and 306 listings (8%) 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 73 days 2,007 sqft
2018-02-01 57 days 2,025 sqft
2018-03-01 36 days 2,061 sqft
2018-04-01 29 days 2,042 sqft
2018-05-01 28 days 2,056 sqft
2018-06-01 32 days 2,045 sqft
2018-07-01 41 days 2,034 sqft
2018-08-01 46 days 2,012 sqft
2018-09-01 44 days 1,989 sqft
2018-10-01 44 days 1,967 sqft
2018-11-01 51 days 1,947 sqft
2018-12-01 65 days 1,937 sqft
2019-01-01 71 days 1,907 sqft
2019-02-01 56 days 1,925 sqft
2019-03-01 41 days 1,973 sqft
2019-04-01 32 days 2,025 sqft
2019-05-01 32 days 2,045 sqft
2019-06-01 37 days 2,054 sqft
2019-07-01 47 days 2,037 sqft
2019-08-01 49 days 2,020 sqft
2019-09-01 47 days 1,998 sqft
2019-10-01 45 days 1,983 sqft
2019-11-01 55 days 1,981 sqft
2019-12-01 75 days 1,932 sqft
2020-01-01 78 days 1,909 sqft
2020-02-01 43 days 1,959 sqft
2020-03-01 31 days 2,000 sqft
2020-04-01 45 days 1,996 sqft
2020-05-01 50 days 2,000 sqft
2020-06-01 31 days 1,967 sqft
2020-07-01 35 days 1,890 sqft
2020-08-01 37 days 1,844 sqft
2020-09-01 32 days 1,733 sqft
2020-10-01 31 days 1,692 sqft
2020-11-01 47 days 1,667 sqft
2020-12-01 62 days 1,652 sqft
2021-01-01 60 days 1,639 sqft
2021-02-01 33 days 1,652 sqft
2021-03-01 22 days 1,664 sqft
2021-04-01 18 days 1,668 sqft
2021-05-01 19 days 1,693 sqft
2021-06-01 19 days 1,711 sqft
2021-07-01 29 days 1,711 sqft
2021-08-01 31 days 1,710 sqft
2021-09-01 28 days 1,685 sqft
2021-10-01 30 days 1,656 sqft
2021-11-01 38 days 1,630 sqft
2021-12-01 49 days 1,649 sqft
2022-01-01 54 days 1,650 sqft
2022-02-01 25 days 1,663 sqft
2022-03-01 18 days 1,673 sqft
2022-04-01 15 days 1,685 sqft
2022-05-01 16 days 1,788 sqft
2022-06-01 18 days 1,813 sqft
2022-07-01 26 days 1,825 sqft
2022-08-01 35 days 1,832 sqft
2022-09-01 34 days 1,815 sqft
2022-10-01 31 days 1,813 sqft
2022-11-01 41 days 1,804 sqft
2022-12-01 58 days 1,836 sqft
2023-01-01 61 days 1,840 sqft
2023-02-01 37 days 1,861 sqft
2023-03-01 28 days 1,860 sqft
2023-04-01 25 days 1,849 sqft
2023-05-01 23 days 1,919 sqft
2023-06-01 24 days 1,911 sqft
2023-07-01 36 days 1,896 sqft
2023-08-01 37 days 1,900 sqft
2023-09-01 31 days 1,908 sqft
2023-10-01 32 days 1,879 sqft
2023-11-01 38 days 1,868 sqft
2023-12-01 53 days 1,835 sqft
2024-01-01 53 days 1,814 sqft
2024-02-01 33 days 1,838 sqft
2024-03-01 24 days 1,830 sqft
2024-04-01 24 days 1,808 sqft
Boston's median listing age (time on market) for 2024-04-01 was 24 days. This is -4% shorter than the same period one year ago.

Boston's median square footage for active listings during the 2024-04-01 period was 1,808 sqft. One year prior, the average listing was 1,849 sqft.