Hagerstown USDA Loan Rates, Closing Costs & Stats

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 46 lenders originated 177 USDA loans during 2023. The total origination value was $43,165,000, with an average USDA loan value of $243,870.

Hagerstown USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Hagerstown averaged 6.28% for the week of 2024-10-25, compared to the national average (all USDA variants) of 6.29% for the same period.

Hagerstown's average USDA mortgage closing costs are $6,165.

The average rate for the prior week (2024-10-18) was 6.06% and one month ago for the week of 2024-09-20, the average rate was 5.98%.

The average rate one year ago was 7.3%.

For refis of the same type during the week of 2024-10-25, the average rate was 6.89%.

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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Hagerstown level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Integrity Home Mortgage Corp 33 6.61% $9,840
NVR Mortgage Finance, Inc. 22 5.56% $8,935
HOMESPIRE MORTGAGE CORPORATION 15 6.30% $6,533
PRIMELENDING, A PLAINSCAPITAL COMPANY 15 6.07% $7,855
Sierra Pacific Mortgage Company, Inc. 10 6.24% $12,789
T2 FINANCIAL LLC 6 6.39% $7,753
FIRST HOME MORTGAGE CORPORATION 5 6.20% $10,801
CBM Mortgage, Inc. 4 6.75% $8,338
MOVEMENT MORTGAGE, LLC 4 6.55% $7,411
Atlantic Coast Mortgage, LLC 4 5.84% $8,974
George Mason Mortgage, LLC 4 5.87% $8,434
UNION HOME MORTGAGE CORP. 4 5.63% $9,864
EMBRACE HOME LOANS, INC. 4 6.38% $8,933
INTERCOASTAL MORTGAGE COMPANY 3 6.63% $7,418
PLANET HOME LENDING, LLC 3 6.29% $9,593
GSF Mortgage Corporation 3 6.50% $10,178
CROSSCOUNTRY MORTGAGE, LLC 3 6.06% $9,713
GUILD MORTGAGE COMPANY 2 6.31% $8,862
Shore United Bank 2 5.75% $11,973
Flagstar Bank, FSB 2 6.26% $11,936
First Heritage Mortgage, LLC 2 5.85% $7,013
C & F Mortgage Corporation 2 6.31% $6,562
UNITED WHOLESALE MORTGAGE, LLC 2 5.77% $11,708
Vellum Mortgage, Inc. 1 6.25% $8,975
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.63% $9,865
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.63% $8,195
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $5,445
BAY CAPITAL MORTGAGE CORPORATION 1 6.88% $9,667
CALIBER HOME LOANS, INC. 1 6.50% $9,814
CARDINAL FINANCIAL 1 5.25% $9,147
DAS Acquisition Company, LLC 1 6.75% $4,368
EMM LOANS LLC 1 5.50% $11,881
Equity Prime Mortgage LLC 1 5.63% $5,365
GUARANTEED RATE AFFINITY, LLC 1 6.25% $8,671
HOMESIDE FINANCIAL, LLC 1 5.75% $4,252
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 1 6.25% $13,337
Meridian Bank Corporation 1 6.50% $6,478
MICHIGAN MUTUAL, INC. 1 5.63% $8,937
NORWICH COMMERCIAL GROUP, INC. 1 6.25% $10,840
Paramount Residential Mortgage Group, Inc. 1 6.13% $13,894
SECURITYNATIONAL MORTGAGE COMPANY 1 5.63% $8,450
TIDEWATER MORTGAGE SERVICES, INC. 1 6.50% $11,545
TJC Mortgage, Inc. 1 7.88% $7,610
Towne Bank 1 5.63% $5,902
U.S. Bank 1 6.75% $9,884
ACADEMY MORTGAGE CORPORATION 1 6.63% $9,389

The top Hagerstown USDA lender as defined by loan originations is Integrity Home Mortgage Corp, with 33 USDA loans originated. Their average total fees are $9,840, which is $905 higher than the next largest lender, NVR Mortgage Finance, Inc..

The lowest fee Hagerstown USDA lenders (with over 10 loans originated) are HOMESPIRE MORTGAGE CORPORATION ($6,533), PRIMELENDING, A PLAINSCAPITAL COMPANY ($7,855), NVR Mortgage Finance, Inc. ($8,935), Integrity Home Mortgage Corp ($9,840) and Sierra Pacific Mortgage Company, Inc. ($12,789).

The lowest rate Hagerstown USDA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. (5.56%), PRIMELENDING, A PLAINSCAPITAL COMPANY (6.07%), Sierra Pacific Mortgage Company, Inc. (6.24%), HOMESPIRE MORTGAGE CORPORATION (6.30%) and Integrity Home Mortgage Corp (6.61%).