Hagerstown USDA Loans

HAGERSTOWN-MARTINSBURG, 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.

Hagerstown's 90 lenders originated 823 USDA loans during 2021. The total origination value was $179,395,000, with an average USDA loan value of $217,977.

Hagerstown USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Hagerstown averaged 5.33% 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 5.56% and one month ago for the week of 2022-04-08, the average rate was 4.92%.

The average rate one year ago was 3.13%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.07%.

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

Hagerstown 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 Hagerstown level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Integrity Home Mortgage Corp 171 3.04% $5,953
PRIMELENDING, A PLAINSCAPITAL COMPANY 83 3.11% $6,279
Sierra Pacific Mortgage Company, Inc. 63 2.84% $6,250
HOMESPIRE MORTGAGE CORPORATION 50 3.00% $6,423
NVR Mortgage Finance, Inc. 45 2.97% $6,833
EMBRACE HOME LOANS, INC. 33 2.94% $5,033
CBM Mortgage, Inc. 32 3.03% $5,661
PLANET HOME LENDING, LLC 24 3.05% $6,440
UNION HOME MORTGAGE CORP. 24 2.50% $5,311
FIRST HOME MORTGAGE CORPORATION 20 3.04% $5,940
TJC Mortgage, Inc. 17 3.13% $6,987
LOANDEPOT.COM, LLC 15 2.91% $8,899
FINANCE OF AMERICA MORTGAGE LLC 14 3.10% $6,088
CROSSCOUNTRY MORTGAGE, LLC 14 2.95% $5,603
CONTOUR MORTGAGE CORPORATION 12 3.08% $6,494
INTERCOASTAL MORTGAGE COMPANY 8 3.01% $5,490
Blue Ridge Bank 8 2.67% $5,350
MCLEAN MORTGAGE CORPORATION 8 2.61% $6,537
Presidential Bank, FSB 7 2.79% $6,110
Gateway First Bank 7 2.93% $3,543
HOMEBRIDGE FINANCIAL SERVICES, INC. 7 2.61% $6,832
Prosperity Home Mortgage, LLC 7 2.55% $5,969
Alcova Mortgage LLC 6 3.08% $5,525
MILLENNIUM FINANCIAL GROUP, INC. 6 2.79% $5,712
George Mason Mortgage, LLC 5 2.75% $5,803
PENNYMAC LOAN SERVICES, LLC 5 2.81% $4,940
RESIDENTIAL MORTGAGE SERVICES, INC. 5 2.68% $5,605
Carrington Mortgage Services, LLC 5 4.00% $7,636
Towne Bank 5 2.63% $7,331
SECURITYNATIONAL MORTGAGE COMPANY 5 2.88% $6,756
TIDEWATER MORTGAGE SERVICES, INC. 4 2.72% $6,080
BAY CAPITAL MORTGAGE CORPORATION 4 2.88% $5,280
DIRECT MORTGAGE LOANS, LLC 4 3.34% $6,941
MICHIGAN MUTUAL, INC. 4 3.06% $5,066
MOVEMENT MORTGAGE, LLC 4 3.28% $4,121
UNITED WHOLESALE MORTGAGE, LLC 4 2.84% $6,412
T2 FINANCIAL LLC 3 3.00% $6,570
C & F Mortgage Corporation 3 2.63% $5,649
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.67% $5,678
CALIBER HOME LOANS, INC. 3 2.92% $7,218
NFM, INC. 3 3.17% $6,840
Atlantic Union Bank 3 3.17% $6,649
DAS Acquisition Company, LLC 3 3.75% $6,282
HOME POINT FINANCIAL CORPORATION 3 2.88% $5,784
First Guaranty Mortgage Corporation 2 3.06% $5,673
Colten Mortgage, LLC 2 3.00% $6,137
FREEDOM MORTGAGE CORPORATION 2 2.75% $5,790
CNB Bank Inc. 2 2.56% $5,915
EMM LOANS LLC 2 2.69% $7,318
Paramount Residential Mortgage Group, Inc. 2 2.88% $5,948
SOUTHERN TRUST MORTGAGE, LLC 2 2.69% $2,489
Meridian Bank Corporation 2 2.56% $5,572
ACADEMY MORTGAGE CORPORATION 2 3.25% $6,886
GUILD MORTGAGE COMPANY 2 2.81% $6,202
Plains Commerce Bank 1 2.75% $6,636
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.63% $6,508
Capital Bank 1 3.25% $6,931
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.00% $12,250
Bank of England 1 3.38% $7,220
Sandy Spring Bank 1 3.25% $6,249
Atlantic Coast Mortgage, LLC 1 2.88% $6,330
SEVERN SAVINGS BANK, FSB DBA SEVERN BANK 1 2.50% $4,787
APEX HOME LOANS, INC. 1 2.38% $6,901
ABSOLUTE HOME MORTGAGE CORPORATION 1 3.00% $7,000
AMERICAN FINANCIAL NETWORK, INC. 1 3.50% $10,833
ACNB Bank 1 2.50% $6,878
TOWNE MORTGAGE COMPANY 1 2.75% $7,950
United Bank 1 3.00% $4,800
Wells Fargo Bank 1 2.63% $6,234
U.S. Bank 1 3.75% $4,994
US MORTGAGE CORPORATION 1 2.75% $7,161
First Heritage Mortgage, LLC 1 3.00% $5,844
Flagstar Bank, FSB 1 2.75% $3,841
First Federal Bank 1 3.13% $5,254
FIRST COMMUNITY MORTGAGE, INC. 1 2.88% $5,074
GUARANTEED RATE AFFINITY, LLC 1 2.50% $1,847
Equity Prime Mortgage LLC 1 2.75% $3,939
Hometown Equity Mortgage, LLC 1 2.88% $6,045
KELLER MORTGAGE, LLC 1 3.25% $3,734
LAKEVIEW LOAN SERVICING, LLC 1 2.75% $2,486
LEADERONE FINANCIAL CORPORATION 1 2.88% $6,135
MEMBER FIRST MORTGAGE, LLC 1 2.50% $5,762
Victorian Finance, LLC 1 2.75% $5,281
CITYWIDE HOME LOANS, LLC 1 3.50% $6,923
Waterstone Mortgage Corporation 1 2.88% $8,059
Nations Lending Corporation 1 3.25% $4,768
Northpointe Bank 1 2.88% $5,576
NORWICH COMMERCIAL GROUP, INC. 1 3.25% $7,187
Citizens Bank 1 3.25% $5,958
PATRIOT 1 2.50% $4,402

The top Hagerstown USDA lender as defined by loan originations is Integrity Home Mortgage Corp, with 171 USDA loans originated. Their average total fees are $5,953, which is $326 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

The lowest fee Hagerstown USDA lenders (with over 10 loans originated) are EMBRACE HOME LOANS, INC. ($5,033), UNION HOME MORTGAGE CORP. ($5,311), CROSSCOUNTRY MORTGAGE, LLC ($5,603), CBM Mortgage, Inc. ($5,661) and FIRST HOME MORTGAGE CORPORATION ($5,940).

The lowest rate Hagerstown USDA lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. (2.50%), Sierra Pacific Mortgage Company, Inc. (2.84%), LOANDEPOT.COM, LLC (2.91%), EMBRACE HOME LOANS, INC. (2.94%) and CROSSCOUNTRY MORTGAGE, LLC (2.95%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Hagerstown (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 $209,900 (7.7%) $228,936 (3.5%) 0.77 1,043
2018-02-01 $214,900 (10.0%) $234,246 (5.7%) 0.78 1,045
2018-03-01 $219,900 (10.0%) $241,781 (6.2%) 0.76 1,062
2018-04-01 $219,900 (10.0%) $242,007 (5.9%) 0.74 1,164
2018-05-01 $224,945 (7.2%) $249,701 (6.5%) 0.75 1,259
2018-06-01 $229,000 (9.1%) $253,405 (7.0%) 0.76 1,345
2018-07-01 $229,900 (9.5%) $254,798 (7.1%) 0.77 1,341
2018-08-01 $229,900 (9.7%) $255,617 (6.9%) 0.77 1,368
2018-09-01 $229,900 (9.5%) $255,753 (7.6%) 0.77 1,311
2018-10-01 $229,900 (9.3%) $253,529 (8.0%) 0.77 1,299
2018-11-01 $231,950 (10.5%) $256,047 (9.3%) 0.78 1,316
2018-12-01 $233,990 (15.6%) $254,189 (12.6%) 0.80 1,227
2019-01-01 $229,945 (9.6%) $253,565 (10.8%) 0.79 1,133
2019-02-01 $231,995 (8.0%) $258,817 (10.5%) 0.78 1,129
2019-03-01 $234,453 (6.6%) $261,912 (8.3%) 0.76 1,133
2019-04-01 $234,503 (6.6%) $263,492 (8.9%) 0.74 1,183
2019-05-01 $235,000 (4.5%) $264,780 (6.0%) 0.72 1,247
2019-06-01 $237,990 (3.9%) $266,852 (5.3%) 0.73 1,284
2019-07-01 $231,495 (0.7%) $264,816 (3.9%) 0.72 1,315
2019-08-01 $234,237 (1.9%) $267,047 (4.5%) 0.74 1,270
2019-09-01 $237,992 (3.5%) $268,916 (5.2%) 0.76 1,218
2019-10-01 $239,900 (4.4%) $270,763 (6.8%) 0.77 1,246
2019-11-01 $239,900 (3.4%) $271,807 (6.2%) 0.77 1,156
2019-12-01 $239,900 (2.5%) $274,877 (8.1%) 0.80 989
2020-01-01 $239,450 (4.1%) $274,266 (8.2%) 0.80 885
2020-02-01 $245,000 (5.6%) $280,596 (8.4%) 0.79 847
2020-03-01 $249,000 (6.2%) $285,983 (9.2%) 0.78 848
2020-04-01 $249,150 (6.3%) $284,368 (7.9%) 0.78 843
2020-05-01 $249,900 (6.3%) $292,714 (10.6%) 0.76 763
2020-06-01 $249,900 (5.0%) $289,696 (8.6%) 0.73 664
2020-07-01 $249,945 (8.0%) $289,148 (9.2%) 0.72 583
2020-08-01 $259,900 (11.0%) $297,919 (11.6%) 0.74 532
2020-09-01 $259,945 (9.2%) $298,478 (11.0%) 0.74 508
2020-10-01 $257,990 (7.5%) $295,444 (9.1%) 0.74 476
2020-11-01 $258,495 (7.8%) $295,949 (8.9%) 0.74 421
2020-12-01 $259,900 (8.3%) $292,497 (6.4%) 0.76 394
2021-01-01 $265,990 (11.1%) $295,561 (7.8%) 0.78 351
2021-02-01 $261,950 (6.9%) $295,987 (5.5%) 0.75 250
2021-03-01 $260,000 (4.4%) $298,889 (4.5%) 0.73 259
2021-04-01 $272,250 (9.3%) $311,004 (9.4%) 0.73 245
2021-05-01 $275,000 (10.0%) $330,421 (12.9%) 0.72 259
2021-06-01 $271,200 (8.5%) $329,353 (13.7%) 0.70 320
2021-07-01 $277,450 (11.0%) $328,005 (13.4%) 0.72 376
2021-08-01 $287,450 (10.6%) $344,679 (15.7%) 0.76 428
2021-09-01 $286,950 (10.4%) $337,220 (13.0%) 0.76 407
2021-10-01 $286,500 (11.1%) $332,939 (12.7%) 0.75 405
2021-11-01 $297,000 (14.9%) $337,360 (14.0%) 0.78 425
2021-12-01 $297,000 (14.3%) $326,840 (11.7%) 0.79 389
2022-01-01 $310,000 (16.6%) $335,909 (13.7%) 0.83 327
2022-02-01 $310,490 (18.5%) $339,551 (14.7%) 0.79 278
2022-03-01 $324,740 (24.9%) $352,153 (17.8%) 0.80 278
2022-04-01 $322,990 (18.6%) $353,895 (13.8%) 0.76 317
Hagerstown's median listing price for 2022-04-01 was $322,990, a difference of $50,740 (18.6%) versus the prior year and $-1,750 versus the prior month.

Hagerstown's median listing price comes in at 76% of the national average.

Hagerstown's average listing price for 2022-04-01 was $353,895, a difference of $42,891 (13.8%) versus the prior year and $1,742 versus the prior month.

For the 2022-04-01 period, Hagerstown had 317 MLS listings, a difference of 39 listings (14%) versus the prior month and 72 listings (29%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hagerstown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 93 days 1,760 sqft
2018-02-01 85 days 1,793 sqft
2018-03-01 65 days 1,798 sqft
2018-04-01 59 days 1,798 sqft
2018-05-01 53 days 1,798 sqft
2018-06-01 56 days 1,895 sqft
2018-07-01 67 days 1,920 sqft
2018-08-01 73 days 1,899 sqft
2018-09-01 78 days 1,918 sqft
2018-10-01 80 days 1,937 sqft
2018-11-01 80 days 1,938 sqft
2018-12-01 88 days 1,918 sqft
2019-01-01 92 days 1,897 sqft
2019-02-01 94 days 1,911 sqft
2019-03-01 70 days 1,927 sqft
2019-04-01 57 days 1,921 sqft
2019-05-01 57 days 1,918 sqft
2019-06-01 64 days 1,930 sqft
2019-07-01 60 days 1,915 sqft
2019-08-01 61 days 1,915 sqft
2019-09-01 72 days 1,920 sqft
2019-10-01 71 days 1,925 sqft
2019-11-01 77 days 1,929 sqft
2019-12-01 96 days 1,935 sqft
2020-01-01 88 days 1,906 sqft
2020-02-01 63 days 1,897 sqft
2020-03-01 50 days 1,915 sqft
2020-04-01 58 days 1,915 sqft
2020-05-01 70 days 1,974 sqft
2020-06-01 74 days 1,973 sqft
2020-07-01 60 days 1,937 sqft
2020-08-01 58 days 2,011 sqft
2020-09-01 56 days 2,004 sqft
2020-10-01 59 days 1,929 sqft
2020-11-01 58 days 1,896 sqft
2020-12-01 63 days 1,842 sqft
2021-01-01 54 days 1,828 sqft
2021-02-01 46 days 1,855 sqft
2021-03-01 46 days 1,811 sqft
2021-04-01 37 days 1,819 sqft
2021-05-01 38 days 1,896 sqft
2021-06-01 35 days 1,834 sqft
2021-07-01 36 days 1,861 sqft
2021-08-01 34 days 1,855 sqft
2021-09-01 42 days 1,853 sqft
2021-10-01 44 days 1,864 sqft
2021-11-01 38 days 1,885 sqft
2021-12-01 45 days 1,868 sqft
2022-01-01 52 days 1,897 sqft
2022-02-01 48 days 1,840 sqft
2022-03-01 42 days 1,894 sqft
2022-04-01 35 days 1,890 sqft
Hagerstown's median listing age (time on market) for 2022-04-01 was 35 days. This is -5% shorter than the same period one year ago.

Hagerstown's median square footage for active listings during the 2022-04-01 period was 1,890 sqft. One year prior, the average listing was 1,819 sqft.