Dover USDA Loans

DOVER, DE

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.

Dover's 54 lenders originated 297 USDA loans during 2021. The total origination value was $76,655,000, with an average USDA loan value of $258,098.

Dover USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Dover averaged 5.46% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.6% and one month ago for the week of 2022-04-08, the average rate was 4.76%.

The average rate one year ago was 3.07%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.04%.

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

Dover 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 Dover level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
First Home Bank 27 2.96% $7,284
Meridian Bank Corporation 25 2.98% $7,881
Atlantic Home Loans, Inc. 21 2.76% $7,927
NFM, INC. 15 3.09% $6,715
Northpointe Bank 15 2.74% $7,226
NVR Mortgage Finance, Inc. 15 3.02% $7,453
Huntingdon Valley Bank 14 3.11% $8,452
EMBRACE HOME LOANS, INC. 12 2.80% $6,779
PIKE CREEK MORTGAGE SERVICES, INC. 12 3.96% $4,539
CALIBER HOME LOANS, INC. 11 2.79% $6,787
CMG MORTGAGE, INC. 10 3.08% $7,610
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 2.69% $7,402
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 9 2.92% $9,286
TIDEWATER MORTGAGE SERVICES, INC. 8 2.94% $6,925
DHI MORTGAGE COMPANY, LTD. 7 2.66% $7,121
Keystone Funding, Inc. 7 3.05% $6,413
HOME POINT FINANCIAL CORPORATION 7 2.91% $8,033
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 3.44% $8,156
GUARANTEED RATE, INC. 6 2.85% $8,442
RESIDENTIAL MORTGAGE SERVICES, INC. 4 2.56% $7,762
FIRST HOME MORTGAGE CORPORATION 4 3.00% $7,217
Evolve Bank & Trust 4 3.28% $9,269
AMERICAN FINANCIAL NETWORK, INC. 4 2.91% $15,457
Fulton Bank 3 2.83% $6,797
BROKER SOLUTIONS, INC. 2 2.56% $8,539
ALLIED MORTGAGE GROUP, INC. 2 3.00% $4,103
Acre Mortgage and Financial Inc 2 3.40% $10,222
HOMESIDE FINANCIAL, LLC 2 2.88% $6,979
MCLEAN MORTGAGE CORPORATION 2 2.56% $6,047
ON Q FINANCIAL, INC. 2 2.63% $9,642
UNION HOME MORTGAGE CORP. 2 2.69% $5,495
Wells Fargo Bank 2 3.25% $5,394
UNITED WHOLESALE MORTGAGE, LLC 1 2.25% $17,920
GUILD MORTGAGE COMPANY 1 2.75% $8,526
MOVEMENT MORTGAGE, LLC 1 3.38% $7,196
NATIONWIDE MORTGAGE BANKERS, INC. 1 2.50% $8,078
GREENTREE MORTGAGE COMPANY, L.P. 1 2.75% $6,763
Equity Prime Mortgage LLC 1 3.25% $8,932
DRAPER AND KRAMER MORTGAGE CORP. 1 2.50% $7,786
VILLAGE CAPITAL & INVESTMENT LLC 1 2.75% $6,986
CROSSCOUNTRY MORTGAGE, LLC 1 2.50% $17,278
Plains Commerce Bank 1 3.13% $9,101
PLAZA HOME MORTGAGE, INC. 1 2.88% $6,286
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.63% $7,114
Prosperity Home Mortgage, LLC 1 3.25% $8,149
Carrington Mortgage Services, LLC 1 2.25% $6,017
STEARNS LENDING, LLC 1 4.50% $4,964
The Federal Savings Bank 1 3.13% $5,248
Austin Capital Bank SSB 1 2.50% $4,804
Wilmington Savings Fund Society, FSB 1 3.13% $5,891
Hometown Lenders, Inc. 1 3.50% $6,001
LENDUS, LLC 1 2.88% $15,697
LOANDEPOT.COM, LLC 1 2.50% $5,759
Manufacturers and Traders Trust Company 1 3.50% $6,906

The top Dover USDA lender as defined by loan originations is First Home Bank, with 27 USDA loans originated. Their average total fees are $7,284, which is $598 lower than the next largest lender, Meridian Bank Corporation.

The lowest fee Dover USDA lenders (with over 10 loans originated) are PIKE CREEK MORTGAGE SERVICES, INC. ($4,539), NFM, INC. ($6,715), EMBRACE HOME LOANS, INC. ($6,779), CALIBER HOME LOANS, INC. ($6,787) and Northpointe Bank ($7,226).

The lowest rate Dover USDA lenders (with over 10 loans originated) are Northpointe Bank (2.74%), Atlantic Home Loans, Inc. (2.76%), CALIBER HOME LOANS, INC. (2.79%), EMBRACE HOME LOANS, INC. (2.80%) and First Home Bank (2.96%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Dover (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 $242,000 (2.8%) $249,983 (4.3%) 0.89 859
2018-02-01 $245,336 (4.0%) $253,693 (6.6%) 0.88 834
2018-03-01 $249,985 (4.2%) $257,656 (6.7%) 0.87 822
2018-04-01 $252,495 (3.3%) $256,832 (3.7%) 0.85 871
2018-05-01 $260,000 (6.8%) $267,502 (7.8%) 0.87 873
2018-06-01 $259,900 (6.7%) $265,734 (6.9%) 0.87 964
2018-07-01 $264,528 (8.0%) $267,983 (6.9%) 0.88 937
2018-08-01 $259,945 (4.9%) $265,567 (4.6%) 0.87 944
2018-09-01 $259,900 (6.1%) $264,746 (5.3%) 0.87 909
2018-10-01 $260,950 (8.6%) $266,516 (7.0%) 0.87 911
2018-11-01 $264,900 (9.7%) $272,195 (9.2%) 0.89 871
2018-12-01 $263,900 (10.0%) $272,821 (9.2%) 0.90 778
2019-01-01 $264,900 (9.5%) $273,940 (9.6%) 0.91 700
2019-02-01 $264,900 (8.0%) $275,067 (8.4%) 0.89 669
2019-03-01 $267,000 (6.8%) $278,928 (8.3%) 0.87 678
2019-04-01 $269,450 (6.7%) $283,172 (10.3%) 0.85 698
2019-05-01 $272,900 (5.0%) $285,571 (6.8%) 0.84 702
2019-06-01 $272,900 (5.0%) $287,395 (8.2%) 0.84 708
2019-07-01 $270,000 (2.1%) $288,211 (7.6%) 0.84 709
2019-08-01 $272,114 (4.7%) $290,018 (9.2%) 0.86 697
2019-09-01 $274,803 (5.7%) $290,797 (9.8%) 0.87 660
2019-10-01 $274,900 (5.4%) $279,269 (4.8%) 0.88 653
2019-11-01 $269,990 (1.9%) $272,886 (0.3%) 0.87 642
2019-12-01 $269,900 (2.3%) $271,715 (-0.4%) 0.90 591
2020-01-01 $274,950 (3.8%) $277,908 (1.5%) 0.92 557
2020-02-01 $275,000 (3.8%) $276,669 (0.6%) 0.89 525
2020-03-01 $279,900 (4.8%) $279,117 (0.1%) 0.87 510
2020-04-01 $279,900 (3.9%) $283,635 (0.2%) 0.87 476
2020-05-01 $279,900 (2.6%) $283,783 (-0.6%) 0.85 460
2020-06-01 $287,450 (5.3%) $290,351 (1.0%) 0.84 436
2020-07-01 $288,700 (6.9%) $293,892 (2.0%) 0.83 449
2020-08-01 $296,900 (9.1%) $302,413 (4.3%) 0.85 404
2020-09-01 $300,200 (9.2%) $310,194 (6.7%) 0.86 367
2020-10-01 $299,900 (9.1%) $306,597 (9.8%) 0.86 354
2020-11-01 $310,450 (15.0%) $315,305 (15.5%) 0.89 328
2020-12-01 $311,900 (15.6%) $313,284 (15.3%) 0.91 305
2021-01-01 $317,900 (15.6%) $322,900 (16.2%) 0.94 210
2021-02-01 $321,900 (17.1%) $324,583 (17.3%) 0.93 205
2021-03-01 $333,950 (19.3%) $343,331 (23.0%) 0.94 180
2021-04-01 $349,900 (25.0%) $356,827 (25.8%) 0.94 199
2021-05-01 $342,900 (22.5%) $350,393 (23.5%) 0.90 185
2021-06-01 $361,950 (25.9%) $369,553 (27.3%) 0.94 240
2021-07-01 $362,500 (25.6%) $374,309 (27.4%) 0.94 255
2021-08-01 $372,495 (25.5%) $404,028 (33.6%) 0.98 275
2021-09-01 $369,950 (23.2%) $401,429 (29.4%) 0.97 279
2021-10-01 $374,900 (25.0%) $398,238 (29.9%) 0.99 280
2021-11-01 $353,600 (13.9%) $399,686 (26.8%) 0.93 269
2021-12-01 $368,950 (18.3%) $410,589 (31.1%) 0.98 256
2022-01-01 $371,531 (16.9%) $418,969 (29.8%) 0.99 239
2022-02-01 $402,121 (24.9%) $442,170 (36.2%) 1.02 230
2022-03-01 $415,445 (24.4%) $457,712 (33.3%) 1.03 205
2022-04-01 $401,990 (14.9%) $450,131 (26.2%) 0.95 213
Dover's median listing price for 2022-04-01 was $401,990, a difference of $52,090 (14.9%) versus the prior year and $-13,455 versus the prior month.

Dover's median listing price comes in at 95% of the national average.

Dover's average listing price for 2022-04-01 was $450,131, a difference of $93,304 (26.2%) versus the prior year and $-7,581 versus the prior month.

For the 2022-04-01 period, Dover had 213 MLS listings, a difference of 8 listings (4%) versus the prior month and 14 listings (7%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Dover (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 112 days 1,882 sqft
2018-02-01 105 days 1,894 sqft
2018-03-01 84 days 1,910 sqft
2018-04-01 76 days 1,905 sqft
2018-05-01 73 days 1,998 sqft
2018-06-01 80 days 2,003 sqft
2018-07-01 82 days 2,022 sqft
2018-08-01 82 days 2,007 sqft
2018-09-01 93 days 2,000 sqft
2018-10-01 92 days 1,955 sqft
2018-11-01 98 days 1,944 sqft
2018-12-01 109 days 1,936 sqft
2019-01-01 108 days 1,907 sqft
2019-02-01 115 days 1,927 sqft
2019-03-01 92 days 1,973 sqft
2019-04-01 77 days 2,011 sqft
2019-05-01 71 days 1,996 sqft
2019-06-01 74 days 1,960 sqft
2019-07-01 78 days 1,963 sqft
2019-08-01 78 days 1,978 sqft
2019-09-01 81 days 2,013 sqft
2019-10-01 86 days 1,982 sqft
2019-11-01 91 days 1,951 sqft
2019-12-01 104 days 1,957 sqft
2020-01-01 104 days 1,955 sqft
2020-02-01 96 days 1,943 sqft
2020-03-01 76 days 1,946 sqft
2020-04-01 87 days 1,981 sqft
2020-05-01 87 days 1,982 sqft
2020-06-01 83 days 2,018 sqft
2020-07-01 58 days 2,025 sqft
2020-08-01 65 days 2,043 sqft
2020-09-01 73 days 2,023 sqft
2020-10-01 87 days 1,967 sqft
2020-11-01 89 days 1,987 sqft
2020-12-01 96 days 2,020 sqft
2021-01-01 84 days 1,967 sqft
2021-02-01 79 days 2,036 sqft
2021-03-01 68 days 2,025 sqft
2021-04-01 42 days 2,178 sqft
2021-05-01 42 days 1,986 sqft
2021-06-01 50 days 2,193 sqft
2021-07-01 49 days 2,177 sqft
2021-08-01 46 days 2,200 sqft
2021-09-01 44 days 2,170 sqft
2021-10-01 50 days 2,192 sqft
2021-11-01 60 days 2,101 sqft
2021-12-01 68 days 2,117 sqft
2022-01-01 78 days 2,146 sqft
2022-02-01 82 days 2,200 sqft
2022-03-01 50 days 2,243 sqft
2022-04-01 48 days 2,156 sqft
Dover's median listing age (time on market) for 2022-04-01 was 48 days. This is 16% longer than the same period one year ago.

Dover's median square footage for active listings during the 2022-04-01 period was 2,156 sqft. One year prior, the average listing was 2,178 sqft.