Portland USDA Loan Rates, Closing Costs & Stats
PORTLAND-SOUTH PORTLAND, ME
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.
Portland's 22 lenders originated 52 USDA loans during 2023. The total origination value was $15,910,000, with an average USDA loan value of $305,962.
Portland USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Portland
averaged
6.22%
for the week of 2024-10-04, compared to the national average (all USDA variants) of
5.97% for the same period.
Portland's average USDA mortgage closing costs are $5,783.
The average rate for the prior week (2024-09-27) was
5.85% and
one month ago for the week of 2024-08-30, the
average rate was 6.28%.
The average rate one year ago was 7.03%.
For refis of the same type during the week of 2024-10-04, the average rate
was 6.59%.
Portland 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 Portland level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
Bangor Savings Bank | 9 | 5.63% | $6,899 |
GUILD MORTGAGE COMPANY | 4 | 5.75% | $8,962 |
NORWICH COMMERCIAL GROUP, INC. | 3 | 5.55% | $7,877 |
NORTHPOINT MORTGAGE, INC. | 3 | 5.32% | $7,788 |
DAS Acquisition Company, LLC | 2 | 5.23% | $7,515 |
CMG MORTGAGE, INC. | 2 | 7.00% | $8,120 |
Equity Prime Mortgage LLC | 1 | 6.75% | $11,356 |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 5.50% | $8,914 |
HOMEBRIDGE FINANCIAL SERVICES, INC. | 1 | 6.25% | $6,613 |
MEGASTAR FINANCIAL CORP. | 1 | 5.50% | $7,859 |
Mortgage Research Center, LLC | 1 | 5.50% | $9,490 |
SIS BANCORP, MHC | 1 | 5.50% | $5,859 |
The Camden National Bank | 1 | 5.95% | $5,675 |
TOTAL MORTGAGE SERVICES, LLC | 1 | 5.50% | $7,793 |
UNITED WHOLESALE MORTGAGE, LLC | 1 | 6.12% | $9,318 |
American Mortgage & Equity Consultants, Inc. | 1 | 6.75% | $12,706 |
University Credit Union | 1 | 5.50% | $7,358 |
Bar Harbor Bank & Trust | 1 | 5.50% | $6,842 |
Citizens Bank | 1 | 6.50% | $5,725 |
CUSO MORTGAGE CORPORATION | 1 | 5.95% | $7,944 |
EMBRACE HOME LOANS, INC. | 1 | 5.50% | $6,907 |
ENVOY MORTGAGE, LTD | 1 | 7.50% | $13,763 |
The top Portland USDA lender as defined by loan originations is Bangor Savings Bank, with
9 USDA loans originated. Their average total fees are
$6,899, which is $2,063
lower than the next largest lender,
GUILD MORTGAGE COMPANY.
The lowest fee Portland USDA lenders (with over 10 loans originated) are
.
The lowest rate Portland USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Portland (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 | $342,500 (5.4%) | $485,060 (7.9%) | 1.27 | 1,968 |
2018-02-01 | $349,800 (5.9%) | $486,831 (5.7%) | 1.27 | 1,829 |
2018-03-01 | $350,000 (3.0%) | $495,079 (4.6%) | 1.23 | 1,831 |
2018-04-01 | $359,925 (4.1%) | $511,348 (4.5%) | 1.22 | 1,945 |
2018-05-01 | $364,850 (4.3%) | $505,992 (3.9%) | 1.22 | 2,246 |
2018-06-01 | $366,500 (4.8%) | $505,380 (3.8%) | 1.22 | 2,602 |
2018-07-01 | $366,900 (4.9%) | $507,395 (2.5%) | 1.23 | 2,799 |
2018-08-01 | $359,000 (3.3%) | $502,038 (1.8%) | 1.20 | 2,965 |
2018-09-01 | $355,000 (3.2%) | $493,262 (0.2%) | 1.19 | 3,048 |
2018-10-01 | $351,875 (3.5%) | $490,332 (0.0%) | 1.19 | 2,945 |
2018-11-01 | $354,999 (4.6%) | $492,641 (1.3%) | 1.20 | 2,759 |
2018-12-01 | $349,000 (2.7%) | $484,836 (-0.7%) | 1.20 | 2,441 |
2019-01-01 | $349,450 (2.0%) | $480,011 (-1.0%) | 1.21 | 2,070 |
2019-02-01 | $357,425 (2.2%) | $494,834 (1.6%) | 1.21 | 1,984 |
2019-03-01 | $366,429 (4.7%) | $506,236 (2.3%) | 1.20 | 1,946 |
2019-04-01 | $377,250 (4.8%) | $518,611 (1.4%) | 1.20 | 1,932 |
2019-05-01 | $383,450 (5.1%) | $526,172 (4.0%) | 1.20 | 2,122 |
2019-06-01 | $388,250 (5.9%) | $531,085 (5.1%) | 1.21 | 2,433 |
2019-07-01 | $389,450 (6.2%) | $540,263 (6.5%) | 1.22 | 2,571 |
2019-08-01 | $387,882 (8.1%) | $539,163 (7.4%) | 1.23 | 2,601 |
2019-09-01 | $386,205 (8.8%) | $537,710 (9.0%) | 1.24 | 2,551 |
2019-10-01 | $384,950 (9.4%) | $537,947 (9.7%) | 1.24 | 2,487 |
2019-11-01 | $385,000 (8.5%) | $546,055 (10.8%) | 1.26 | 2,210 |
2019-12-01 | $385,713 (10.5%) | $549,183 (13.3%) | 1.29 | 1,751 |
2020-01-01 | $395,000 (13.0%) | $548,034 (14.2%) | 1.32 | 1,510 |
2020-02-01 | $399,000 (11.6%) | $557,594 (12.7%) | 1.31 | 1,401 |
2020-03-01 | $399,450 (9.0%) | $571,349 (12.9%) | 1.25 | 1,455 |
2020-04-01 | $405,000 (7.4%) | $566,833 (9.3%) | 1.27 | 1,512 |
2020-05-01 | $415,000 (8.2%) | $585,052 (11.2%) | 1.26 | 1,526 |
2020-06-01 | $414,950 (6.9%) | $595,023 (12.0%) | 1.22 | 1,611 |
2020-07-01 | $427,450 (9.8%) | $608,768 (12.7%) | 1.24 | 1,561 |
2020-08-01 | $424,950 (9.6%) | $605,902 (12.4%) | 1.22 | 1,413 |
2020-09-01 | $424,250 (9.9%) | $607,735 (13.0%) | 1.22 | 1,363 |
2020-10-01 | $417,500 (8.5%) | $590,632 (9.8%) | 1.20 | 1,339 |
2020-11-01 | $425,000 (10.4%) | $590,677 (8.2%) | 1.24 | 1,191 |
2020-12-01 | $441,400 (14.4%) | $597,642 (8.8%) | 1.31 | 978 |
2021-01-01 | $438,500 (11.0%) | $612,446 (11.8%) | 1.31 | 751 |
2021-02-01 | $437,500 (9.7%) | $624,166 (11.9%) | 1.27 | 629 |
2021-03-01 | $438,152 (9.7%) | $608,812 (6.6%) | 1.24 | 614 |
2021-04-01 | $448,898 (10.8%) | $651,749 (15.0%) | 1.22 | 649 |
2021-05-01 | $459,900 (10.8%) | $661,625 (13.1%) | 1.22 | 733 |
2021-06-01 | $474,713 (14.4%) | $685,899 (15.3%) | 1.25 | 902 |
2021-07-01 | $479,450 (12.2%) | $667,944 (9.7%) | 1.27 | 1,093 |
2021-08-01 | $465,225 (9.5%) | $649,746 (7.2%) | 1.24 | 1,113 |
2021-09-01 | $450,000 (6.1%) | $649,998 (7.0%) | 1.20 | 1,064 |
2021-10-01 | $465,000 (11.4%) | $687,644 (16.4%) | 1.24 | 943 |
2021-11-01 | $482,100 (13.4%) | $722,467 (22.3%) | 1.29 | 770 |
2021-12-01 | $493,250 (11.8%) | $746,101 (24.8%) | 1.34 | 597 |
2022-01-01 | $498,950 (13.8%) | $742,811 (21.3%) | 1.35 | 495 |
2022-02-01 | $532,000 (21.6%) | $729,384 (16.9%) | 1.38 | 437 |
2022-03-01 | $521,225 (19.0%) | $715,114 (17.5%) | 1.30 | 469 |
2022-04-01 | $525,000 (17.0%) | $724,748 (11.2%) | 1.25 | 567 |
2022-05-01 | $532,500 (15.8%) | $720,773 (8.9%) | 1.22 | 718 |
2022-06-01 | $544,000 (14.6%) | $730,869 (6.6%) | 1.21 | 888 |
2022-07-01 | $549,900 (14.7%) | $732,893 (9.7%) | 1.24 | 1,088 |
2022-08-01 | $549,950 (18.2%) | $729,522 (12.3%) | 1.27 | 1,090 |
2022-09-01 | $542,000 (20.4%) | $743,449 (14.4%) | 1.27 | 1,037 |
2022-10-01 | $549,000 (18.1%) | $737,174 (7.2%) | 1.29 | 1,006 |
2022-11-01 | $542,000 (12.4%) | $736,401 (1.9%) | 1.30 | 946 |
2022-12-01 | $551,750 (11.9%) | $752,445 (0.9%) | 1.36 | 808 |
2023-01-01 | $584,775 (17.2%) | $735,776 (-1.0%) | 1.45 | 656 |
2023-02-01 | $590,000 (10.9%) | $769,548 (5.5%) | 1.42 | 589 |
2023-03-01 | $619,000 (18.8%) | $829,590 (16.0%) | 1.46 | 574 |
2023-04-01 | $628,700 (19.8%) | $847,820 (17.0%) | 1.46 | 630 |
2023-05-01 | $623,175 (17.0%) | $848,468 (17.7%) | 1.41 | 728 |
2023-06-01 | $625,000 (14.9%) | $875,841 (19.8%) | 1.40 | 783 |
2023-07-01 | $623,800 (13.4%) | $882,708 (20.4%) | 1.42 | 883 |
2023-08-01 | $611,350 (11.2%) | $858,625 (17.7%) | 1.40 | 982 |
2023-09-01 | $599,900 (10.7%) | $870,420 (17.1%) | 1.40 | 1,107 |
2023-10-01 | $599,950 (9.3%) | $874,809 (18.7%) | 1.41 | 1,104 |
2023-11-01 | $599,975 (10.7%) | $882,028 (19.8%) | 1.43 | 1,064 |
2023-12-01 | $599,900 (8.7%) | $878,491 (16.8%) | 1.46 | 859 |
2024-01-01 | $615,000 (5.2%) | $875,680 (19.0%) | 1.50 | 666 |
2024-02-01 | $604,900 (2.5%) | $854,749 (11.1%) | 1.46 | 657 |
2024-03-01 | $622,700 (0.6%) | $912,739 (10.0%) | 1.47 | 673 |
2024-04-01 | $649,948 (3.4%) | $901,309 (6.3%) | 1.51 | 750 |
2024-05-01 | $673,125 (8.0%) | $944,314 (11.3%) | 1.52 | 912 |
2024-06-01 | $664,750 (6.4%) | $951,434 (8.6%) | 1.49 | 1,095 |
2024-07-01 | $649,500 (4.1%) | $927,459 (5.1%) | 1.48 | 1,328 |
2024-08-01 | $645,000 (5.5%) | $885,473 (3.1%) | 1.50 | 1,389 |
2024-09-01 | $642,125 (7.0%) | $885,237 (1.7%) | 0.00 | 1,443 |
Portland's median listing price comes in at 0% of the national average.
Portland's average listing price for 2024-09-01 was $885,237, a difference of $14,817 (1.7%) versus the prior year and $-236 versus the prior month.
For the 2024-09-01 period, Portland had 1,443 MLS listings, a difference of 54 listings (4%) versus the prior month and 336 listings (30%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 101 days | 1,800 sqft |
2018-02-01 | 107 days | 1,792 sqft |
2018-03-01 | 75 days | 1,791 sqft |
2018-04-01 | 50 days | 1,800 sqft |
2018-05-01 | 43 days | 1,796 sqft |
2018-06-01 | 44 days | 1,800 sqft |
2018-07-01 | 51 days | 1,817 sqft |
2018-08-01 | 59 days | 1,815 sqft |
2018-09-01 | 64 days | 1,800 sqft |
2018-10-01 | 71 days | 1,800 sqft |
2018-11-01 | 76 days | 1,800 sqft |
2018-12-01 | 88 days | 1,764 sqft |
2019-01-01 | 103 days | 1,736 sqft |
2019-02-01 | 106 days | 1,741 sqft |
2019-03-01 | 83 days | 1,753 sqft |
2019-04-01 | 52 days | 1,764 sqft |
2019-05-01 | 42 days | 1,780 sqft |
2019-06-01 | 40 days | 1,800 sqft |
2019-07-01 | 47 days | 1,789 sqft |
2019-08-01 | 54 days | 1,780 sqft |
2019-09-01 | 61 days | 1,787 sqft |
2019-10-01 | 67 days | 1,791 sqft |
2019-11-01 | 72 days | 1,790 sqft |
2019-12-01 | 84 days | 1,762 sqft |
2020-01-01 | 89 days | 1,737 sqft |
2020-02-01 | 86 days | 1,694 sqft |
2020-03-01 | 59 days | 1,704 sqft |
2020-04-01 | 55 days | 1,739 sqft |
2020-05-01 | 59 days | 1,765 sqft |
2020-06-01 | 40 days | 1,764 sqft |
2020-07-01 | 43 days | 1,754 sqft |
2020-08-01 | 40 days | 1,742 sqft |
2020-09-01 | 34 days | 1,707 sqft |
2020-10-01 | 34 days | 1,715 sqft |
2020-11-01 | 45 days | 1,720 sqft |
2020-12-01 | 62 days | 1,711 sqft |
2021-01-01 | 70 days | 1,707 sqft |
2021-02-01 | 43 days | 1,662 sqft |
2021-03-01 | 24 days | 1,664 sqft |
2021-04-01 | 17 days | 1,678 sqft |
2021-05-01 | 15 days | 1,707 sqft |
2021-06-01 | 16 days | 1,736 sqft |
2021-07-01 | 22 days | 1,766 sqft |
2021-08-01 | 27 days | 1,747 sqft |
2021-09-01 | 31 days | 1,715 sqft |
2021-10-01 | 34 days | 1,730 sqft |
2021-11-01 | 43 days | 1,743 sqft |
2021-12-01 | 58 days | 1,698 sqft |
2022-01-01 | 46 days | 1,612 sqft |
2022-02-01 | 29 days | 1,636 sqft |
2022-03-01 | 21 days | 1,633 sqft |
2022-04-01 | 12 days | 1,657 sqft |
2022-05-01 | 14 days | 1,707 sqft |
2022-06-01 | 17 days | 1,777 sqft |
2022-07-01 | 23 days | 1,773 sqft |
2022-08-01 | 32 days | 1,769 sqft |
2022-09-01 | 38 days | 1,756 sqft |
2022-10-01 | 42 days | 1,776 sqft |
2022-11-01 | 46 days | 1,691 sqft |
2022-12-01 | 57 days | 1,680 sqft |
2023-01-01 | 67 days | 1,684 sqft |
2023-02-01 | 61 days | 1,674 sqft |
2023-03-01 | 53 days | 1,663 sqft |
2023-04-01 | 27 days | 1,664 sqft |
2023-05-01 | 24 days | 1,670 sqft |
2023-06-01 | 23 days | 1,762 sqft |
2023-07-01 | 28 days | 1,786 sqft |
2023-08-01 | 29 days | 1,740 sqft |
2023-09-01 | 31 days | 1,736 sqft |
2023-10-01 | 37 days | 1,758 sqft |
2023-11-01 | 44 days | 1,780 sqft |
2023-12-01 | 59 days | 1,748 sqft |
2024-01-01 | 75 days | 1,743 sqft |
2024-02-01 | 54 days | 1,681 sqft |
2024-03-01 | 46 days | 1,682 sqft |
2024-04-01 | 42 days | 1,686 sqft |
2024-05-01 | 33 days | 1,744 sqft |
2024-06-01 | 32 days | 1,736 sqft |
2024-07-01 | 39 days | 1,752 sqft |
2024-08-01 | 45 days | 1,728 sqft |
2024-09-01 | 0 days | 1,748 sqft |
Portland's median square footage for active listings during the 2024-09-01 period was 1,748 sqft. One year prior, the average listing was 1,736 sqft.