Cumberland USDA Loan Rates, Closing Costs & Stats
CUMBERLAND, MD-WV
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.
Cumberland's 24 lenders originated 83 USDA loans during 2023. The total origination value was $11,965,000, with an average USDA loan value of $144,157.
Cumberland USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Cumberland
averaged
-0.07%
for the week of 2024-11-29, compared to the national average (all USDA variants) of
0% for the same period.
Cumberland's average USDA mortgage closing costs are $4,020.
The average rate for the prior week (2024-11-22) was
6.34% and
one month ago for the week of 2024-10-25, the
average rate was 5.94%.
The average rate one year ago was 6.84%.
For refis of the same type during the week of 2024-11-29, the average rate
was 1.4%.
Cumberland 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 Cumberland level.
The top Cumberland USDA lender as defined by loan originations is Alcova Mortgage LLC, with
24 USDA loans originated. Their average total fees are
$2,006, which is $4,556
lower than the next largest lender,
C & F Mortgage Corporation.
The lowest fee Cumberland USDA lenders (with over 10 loans originated) are
Alcova Mortgage LLC ($2,006), C & F Mortgage Corporation ($6,563), .
The lowest rate Cumberland USDA lenders (with over 10 loans originated) are
C & F Mortgage Corporation (6.65%), Alcova Mortgage LLC (7.24%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Cumberland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $115,000 (5.0%) | $140,808 (2.3%) | 0.00 | 457 |
2018-02-01 | $117,025 (6.7%) | $144,339 (4.7%) | 0.00 | 439 |
2018-03-01 | $115,900 (6.7%) | $143,756 (6.4%) | 0.00 | 444 |
2018-04-01 | $116,900 (11.4%) | $137,791 (2.6%) | 0.00 | 478 |
2018-05-01 | $117,825 (7.4%) | $141,826 (2.6%) | 0.00 | 494 |
2018-06-01 | $119,000 (8.2%) | $142,937 (2.5%) | 0.00 | 511 |
2018-07-01 | $118,725 (6.1%) | $141,257 (0.7%) | 0.00 | 520 |
2018-08-01 | $119,900 (7.6%) | $144,457 (4.6%) | 0.00 | 524 |
2018-09-01 | $119,900 (7.2%) | $143,413 (1.3%) | 0.00 | 546 |
2018-10-01 | $117,950 (2.6%) | $144,221 (0.5%) | 0.00 | 541 |
2018-11-01 | $115,000 (0.9%) | $144,976 (1.8%) | 0.00 | 549 |
2018-12-01 | $114,999 (4.5%) | $142,907 (3.0%) | 0.00 | 541 |
2019-01-01 | $114,000 (-0.9%) | $142,267 (1.0%) | 0.00 | 474 |
2019-02-01 | $117,000 (0.0%) | $143,227 (-0.8%) | 0.00 | 443 |
2019-03-01 | $116,911 (0.9%) | $141,958 (-1.3%) | 0.00 | 443 |
2019-04-01 | $111,463 (-4.7%) | $138,501 (0.5%) | 0.00 | 445 |
2019-05-01 | $113,613 (-3.6%) | $141,637 (-0.1%) | 0.00 | 459 |
2019-06-01 | $119,000 (0.0%) | $145,665 (1.9%) | 0.00 | 471 |
2019-07-01 | $119,900 (1.0%) | $145,564 (3.1%) | 0.00 | 477 |
2019-08-01 | $121,291 (1.2%) | $148,654 (2.9%) | 0.00 | 456 |
2019-09-01 | $123,377 (2.9%) | $152,672 (6.5%) | 0.00 | 436 |
2019-10-01 | $124,950 (5.9%) | $155,328 (7.7%) | 0.00 | 422 |
2019-11-01 | $119,000 (3.5%) | $151,450 (4.5%) | 0.00 | 422 |
2019-12-01 | $115,925 (0.8%) | $144,962 (1.4%) | 0.00 | 408 |
2020-01-01 | $109,925 (-3.6%) | $151,103 (6.2%) | 0.00 | 376 |
2020-02-01 | $109,000 (-6.8%) | $161,394 (12.7%) | 0.00 | 345 |
2020-03-01 | $114,900 (-1.7%) | $166,484 (17.3%) | 0.00 | 333 |
2020-04-01 | $108,200 (-2.9%) | $166,713 (20.4%) | 0.00 | 320 |
2020-05-01 | $109,900 (-3.3%) | $166,388 (17.5%) | 0.00 | 296 |
2020-06-01 | $118,500 (-0.4%) | $179,791 (23.4%) | 0.00 | 275 |
2020-07-01 | $122,400 (2.1%) | $186,848 (28.4%) | 0.00 | 252 |
2020-08-01 | $119,000 (-1.9%) | $201,270 (35.4%) | 0.00 | 250 |
2020-09-01 | $124,450 (0.9%) | $205,774 (34.8%) | 0.00 | 245 |
2020-10-01 | $124,900 (0.0%) | $195,332 (25.8%) | 0.00 | 250 |
2020-11-01 | $124,925 (5.0%) | $191,172 (26.2%) | 0.00 | 245 |
2020-12-01 | $123,425 (6.5%) | $199,902 (37.9%) | 0.00 | 219 |
2021-01-01 | $124,700 (13.4%) | $211,183 (39.8%) | 0.00 | 187 |
2021-02-01 | $126,000 (15.6%) | $232,310 (43.9%) | 0.00 | 160 |
2021-03-01 | $129,000 (12.3%) | $234,917 (41.1%) | 0.00 | 146 |
2021-04-01 | $138,575 (28.1%) | $246,988 (48.2%) | 0.00 | 136 |
2021-05-01 | $132,000 (20.1%) | $246,471 (48.1%) | 0.00 | 139 |
2021-06-01 | $144,225 (21.7%) | $255,159 (41.9%) | 0.00 | 143 |
2021-07-01 | $135,000 (10.3%) | $243,985 (30.6%) | 0.00 | 167 |
2021-08-01 | $130,450 (9.6%) | $229,653 (14.1%) | 0.00 | 192 |
2021-09-01 | $127,950 (2.8%) | $222,979 (8.4%) | 0.00 | 198 |
2021-10-01 | $129,900 (4.0%) | $217,823 (11.5%) | 0.00 | 185 |
2021-11-01 | $124,900 (0.0%) | $213,655 (11.8%) | 0.00 | 189 |
2021-12-01 | $116,975 (-5.2%) | $205,674 (2.9%) | 0.00 | 185 |
2022-01-01 | $116,000 (-7.0%) | $199,861 (-5.4%) | 0.00 | 168 |
2022-02-01 | $119,225 (-5.4%) | $167,372 (-28.0%) | 0.00 | 152 |
2022-03-01 | $109,125 (-15.4%) | $174,895 (-25.6%) | 0.00 | 141 |
2022-04-01 | $119,950 (-13.4%) | $182,386 (-26.2%) | 0.00 | 126 |
2022-05-01 | $130,975 (-0.8%) | $205,813 (-16.5%) | 0.00 | 141 |
2022-06-01 | $129,950 (-9.9%) | $194,008 (-24.0%) | 0.00 | 168 |
2022-07-01 | $125,900 (-6.7%) | $196,875 (-19.3%) | 0.00 | 183 |
2022-08-01 | $133,750 (2.5%) | $200,668 (-12.6%) | 0.00 | 191 |
2022-09-01 | $129,950 (1.6%) | $191,330 (-14.2%) | 0.00 | 193 |
2022-10-01 | $134,999 (3.9%) | $186,269 (-14.5%) | 0.00 | 199 |
2022-11-01 | $149,900 (20.0%) | $182,054 (-14.8%) | 0.00 | 197 |
2022-12-01 | $148,900 (27.3%) | $195,435 (-5.0%) | 0.00 | 184 |
2023-01-01 | $148,583 (28.1%) | $201,563 (0.9%) | 0.00 | 153 |
2023-02-01 | $137,425 (15.3%) | $197,551 (18.0%) | 0.00 | 149 |
2023-03-01 | $149,500 (37.0%) | $204,171 (16.7%) | 0.00 | 145 |
2023-04-01 | $139,900 (16.6%) | $199,090 (9.2%) | 0.00 | 142 |
2023-05-01 | $139,800 (6.7%) | $198,783 (-3.4%) | 0.00 | 157 |
2023-06-01 | $139,950 (7.7%) | $193,220 (-0.4%) | 0.00 | 151 |
2023-07-01 | $139,900 (11.1%) | $196,127 (-0.4%) | 0.00 | 161 |
2023-08-01 | $152,125 (13.7%) | $202,184 (0.8%) | 0.00 | 169 |
2023-09-01 | $155,250 (19.5%) | $203,258 (6.2%) | 0.00 | 181 |
2023-10-01 | $159,950 (18.5%) | $210,306 (12.9%) | 0.00 | 196 |
2023-11-01 | $159,900 (6.7%) | $211,442 (16.1%) | 0.00 | 207 |
2023-12-01 | $159,900 (7.4%) | $206,920 (5.9%) | 0.00 | 200 |
2024-01-01 | $153,750 (3.5%) | $191,552 (-5.0%) | 0.00 | 200 |
2024-02-01 | $149,675 (8.9%) | $194,483 (-1.6%) | 0.00 | 204 |
2024-03-01 | $158,000 (5.7%) | $196,858 (-3.6%) | 0.00 | 173 |
2024-04-01 | $165,000 (17.9%) | $205,070 (3.0%) | 0.00 | 178 |
2024-05-01 | $169,900 (21.5%) | $220,230 (10.8%) | 0.00 | 189 |
2024-06-01 | $169,900 (21.4%) | $219,453 (13.6%) | 0.00 | 201 |
2024-07-01 | $172,000 (22.9%) | $218,792 (11.6%) | 0.00 | 202 |
2024-08-01 | $169,900 (11.7%) | $238,084 (17.8%) | 0.00 | 214 |
2024-09-01 | $162,200 (4.5%) | $242,437 (19.3%) | 0.00 | 200 |
2024-10-01 | $177,000 (10.7%) | $245,452 (16.7%) | 0.00 | 211 |
Cumberland's median listing price comes in at 0% of the national average.
Cumberland's average listing price for 2024-10-01 was $245,452, a difference of $35,146 (16.7%) versus the prior year and $3,015 versus the prior month.
For the 2024-10-01 period, Cumberland had 211 MLS listings, a difference of 11 listings (6%) versus the prior month and 15 listings (8%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Cumberland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,568 sqft |
2018-02-01 | 0 days | 1,589 sqft |
2018-03-01 | 0 days | 1,580 sqft |
2018-04-01 | 0 days | 1,600 sqft |
2018-05-01 | 0 days | 1,600 sqft |
2018-06-01 | 0 days | 1,672 sqft |
2018-07-01 | 0 days | 1,663 sqft |
2018-08-01 | 0 days | 1,678 sqft |
2018-09-01 | 0 days | 1,680 sqft |
2018-10-01 | 0 days | 1,681 sqft |
2018-11-01 | 0 days | 1,680 sqft |
2018-12-01 | 0 days | 1,634 sqft |
2019-01-01 | 0 days | 1,633 sqft |
2019-02-01 | 0 days | 1,632 sqft |
2019-03-01 | 0 days | 1,628 sqft |
2019-04-01 | 0 days | 1,612 sqft |
2019-05-01 | 0 days | 1,617 sqft |
2019-06-01 | 0 days | 1,680 sqft |
2019-07-01 | 0 days | 1,680 sqft |
2019-08-01 | 0 days | 1,676 sqft |
2019-09-01 | 0 days | 1,678 sqft |
2019-10-01 | 0 days | 1,684 sqft |
2019-11-01 | 0 days | 1,728 sqft |
2019-12-01 | 0 days | 1,695 sqft |
2020-01-01 | 0 days | 1,678 sqft |
2020-02-01 | 0 days | 1,672 sqft |
2020-03-01 | 0 days | 1,687 sqft |
2020-04-01 | 0 days | 1,697 sqft |
2020-05-01 | 0 days | 1,702 sqft |
2020-06-01 | 0 days | 1,725 sqft |
2020-07-01 | 0 days | 1,728 sqft |
2020-08-01 | 0 days | 1,750 sqft |
2020-09-01 | 0 days | 1,723 sqft |
2020-10-01 | 0 days | 1,712 sqft |
2020-11-01 | 0 days | 1,661 sqft |
2020-12-01 | 0 days | 1,650 sqft |
2021-01-01 | 0 days | 1,684 sqft |
2021-02-01 | 0 days | 1,700 sqft |
2021-03-01 | 0 days | 1,680 sqft |
2021-04-01 | 0 days | 1,706 sqft |
2021-05-01 | 0 days | 1,636 sqft |
2021-06-01 | 0 days | 1,674 sqft |
2021-07-01 | 0 days | 1,687 sqft |
2021-08-01 | 0 days | 1,675 sqft |
2021-09-01 | 0 days | 1,658 sqft |
2021-10-01 | 0 days | 1,636 sqft |
2021-11-01 | 0 days | 1,592 sqft |
2021-12-01 | 0 days | 1,581 sqft |
2022-01-01 | 0 days | 1,550 sqft |
2022-02-01 | 0 days | 1,529 sqft |
2022-03-01 | 0 days | 1,517 sqft |
2022-04-01 | 0 days | 1,502 sqft |
2022-05-01 | 0 days | 1,530 sqft |
2022-06-01 | 0 days | 1,536 sqft |
2022-07-01 | 0 days | 1,559 sqft |
2022-08-01 | 0 days | 1,618 sqft |
2022-09-01 | 0 days | 1,606 sqft |
2022-10-01 | 0 days | 1,641 sqft |
2022-11-01 | 0 days | 1,648 sqft |
2022-12-01 | 0 days | 1,649 sqft |
2023-01-01 | 0 days | 1,693 sqft |
2023-02-01 | 0 days | 1,615 sqft |
2023-03-01 | 0 days | 1,680 sqft |
2023-04-01 | 0 days | 1,592 sqft |
2023-05-01 | 0 days | 1,577 sqft |
2023-06-01 | 0 days | 1,594 sqft |
2023-07-01 | 0 days | 1,591 sqft |
2023-08-01 | 0 days | 1,616 sqft |
2023-09-01 | 0 days | 1,568 sqft |
2023-10-01 | 0 days | 1,637 sqft |
2023-11-01 | 0 days | 1,618 sqft |
2023-12-01 | 0 days | 1,580 sqft |
2024-01-01 | 0 days | 1,553 sqft |
2024-02-01 | 0 days | 1,551 sqft |
2024-03-01 | 0 days | 1,600 sqft |
2024-04-01 | 0 days | 1,600 sqft |
2024-05-01 | 0 days | 1,629 sqft |
2024-06-01 | 0 days | 1,632 sqft |
2024-07-01 | 0 days | 1,593 sqft |
2024-08-01 | 0 days | 1,672 sqft |
2024-09-01 | 0 days | 1,716 sqft |
2024-10-01 | 0 days | 1,737 sqft |
Cumberland's median square footage for active listings during the 2024-10-01 period was 1,737 sqft. One year prior, the average listing was 1,637 sqft.