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 23 lenders originated 89 USDA loans during 2022. The total origination value was $24,185,000, with an average USDA loan value of $271,742.
Portland USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Portland
averaged
6.06%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
Portland's average USDA mortgage closing costs are $5,720.
The average rate for the prior week (2023-05-19) was
5.91% and
one month ago for the week of 2023-04-21, the
average rate was 6.21%.
The average rate one year ago was 5.03%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.38%.
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.
The top Portland USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with
11 USDA loans originated. Their average total fees are
$6,339, which is $396
lower than the next largest lender,
Bangor Savings Bank.
The lowest fee Portland USDA lenders (with over 10 loans originated) are
GUILD MORTGAGE COMPANY ($6,339), .
The lowest rate Portland USDA lenders (with over 10 loans originated) are
GUILD MORTGAGE COMPANY (4.37%), .
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 (3.8%) | $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 (3.2%) | $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%) | $484,897 (-0.7%) | 1.20 | 2,440 |
2019-01-01 | $349,450 (2.0%) | $480,071 (-1.0%) | 1.21 | 2,069 |
2019-02-01 | $357,425 (2.2%) | $494,899 (1.7%) | 1.21 | 1,983 |
2019-03-01 | $369,000 (5.4%) | $505,763 (2.2%) | 1.23 | 1,853 |
2019-04-01 | $377,250 (4.8%) | $518,610 (1.4%) | 1.20 | 1,932 |
2019-05-01 | $383,450 (5.1%) | $526,172 (4.0%) | 1.20 | 2,122 |
2019-06-01 | $388,000 (5.9%) | $531,085 (5.1%) | 1.21 | 2,434 |
2019-07-01 | $389,450 (6.2%) | $540,263 (6.5%) | 1.22 | 2,571 |
2019-08-01 | $389,900 (8.6%) | $545,922 (8.7%) | 1.22 | 2,619 |
2019-09-01 | $394,500 (11.1%) | $558,205 (13.2%) | 1.24 | 2,401 |
2019-10-01 | $384,450 (9.3%) | $537,785 (9.7%) | 1.24 | 2,487 |
2019-11-01 | $385,000 (8.5%) | $546,135 (10.9%) | 1.26 | 2,209 |
2019-12-01 | $385,713 (10.5%) | $549,103 (13.2%) | 1.29 | 1,751 |
2020-01-01 | $395,000 (13.0%) | $547,937 (14.1%) | 1.32 | 1,510 |
2020-02-01 | $399,000 (11.6%) | $557,727 (12.7%) | 1.31 | 1,400 |
2020-03-01 | $399,450 (8.3%) | $571,487 (13.0%) | 1.25 | 1,454 |
2020-04-01 | $405,000 (7.4%) | $566,967 (9.3%) | 1.27 | 1,511 |
2020-05-01 | $415,000 (8.2%) | $585,193 (11.2%) | 1.26 | 1,525 |
2020-06-01 | $414,950 (7.0%) | $595,159 (12.1%) | 1.22 | 1,610 |
2020-07-01 | $427,450 (9.8%) | $608,917 (12.7%) | 1.24 | 1,560 |
2020-08-01 | $425,000 (9.0%) | $606,061 (11.0%) | 1.22 | 1,413 |
2020-09-01 | $424,250 (7.5%) | $607,735 (8.9%) | 1.22 | 1,363 |
2020-10-01 | $417,500 (8.6%) | $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 (6.5%) | 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%) | $729,631 (12.3%) | 1.27 | 1,090 |
2022-09-01 | $542,000 (20.4%) | $743,616 (14.4%) | 1.27 | 1,039 |
2022-10-01 | $549,000 (18.1%) | $737,391 (7.2%) | 1.29 | 1,007 |
2022-11-01 | $542,000 (12.4%) | $736,634 (2.0%) | 1.30 | 947 |
2022-12-01 | $553,500 (12.2%) | $752,688 (0.9%) | 1.37 | 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 |
Portland's median listing price comes in at 146% of the national average.
Portland's average listing price for 2023-04-01 was $847,820, a difference of $123,072 (17.0%) versus the prior year and $18,230 versus the prior month.
For the 2023-04-01 period, Portland had 630 MLS listings, a difference of 56 listings (10%) versus the prior month and 63 listings (11%) 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 | 111 days | 1,800 sqft |
2018-02-01 | 120 days | 1,792 sqft |
2018-03-01 | 103 days | 1,791 sqft |
2018-04-01 | 58 days | 1,800 sqft |
2018-05-01 | 49 days | 1,796 sqft |
2018-06-01 | 47 days | 1,800 sqft |
2018-07-01 | 56 days | 1,817 sqft |
2018-08-01 | 65 days | 1,815 sqft |
2018-09-01 | 71 days | 1,800 sqft |
2018-10-01 | 77 days | 1,800 sqft |
2018-11-01 | 82 days | 1,800 sqft |
2018-12-01 | 94 days | 1,764 sqft |
2019-01-01 | 109 days | 1,736 sqft |
2019-02-01 | 113 days | 1,741 sqft |
2019-03-01 | 86 days | 1,752 sqft |
2019-04-01 | 59 days | 1,762 sqft |
2019-05-01 | 46 days | 1,780 sqft |
2019-06-01 | 44 days | 1,800 sqft |
2019-07-01 | 50 days | 1,789 sqft |
2019-08-01 | 65 days | 1,800 sqft |
2019-09-01 | 76 days | 1,818 sqft |
2019-10-01 | 73 days | 1,793 sqft |
2019-11-01 | 78 days | 1,789 sqft |
2019-12-01 | 89 days | 1,762 sqft |
2020-01-01 | 95 days | 1,735 sqft |
2020-02-01 | 92 days | 1,693 sqft |
2020-03-01 | 63 days | 1,703 sqft |
2020-04-01 | 60 days | 1,738 sqft |
2020-05-01 | 61 days | 1,765 sqft |
2020-06-01 | 45 days | 1,764 sqft |
2020-07-01 | 45 days | 1,753 sqft |
2020-08-01 | 47 days | 1,741 sqft |
2020-09-01 | 37 days | 1,706 sqft |
2020-10-01 | 37 days | 1,715 sqft |
2020-11-01 | 47 days | 1,720 sqft |
2020-12-01 | 63 days | 1,711 sqft |
2021-01-01 | 73 days | 1,707 sqft |
2021-02-01 | 51 days | 1,662 sqft |
2021-03-01 | 27 days | 1,664 sqft |
2021-04-01 | 17 days | 1,678 sqft |
2021-05-01 | 16 days | 1,707 sqft |
2021-06-01 | 16 days | 1,736 sqft |
2021-07-01 | 23 days | 1,766 sqft |
2021-08-01 | 28 days | 1,747 sqft |
2021-09-01 | 31 days | 1,715 sqft |
2021-10-01 | 36 days | 1,730 sqft |
2021-11-01 | 44 days | 1,743 sqft |
2021-12-01 | 59 days | 1,698 sqft |
2022-01-01 | 48 days | 1,612 sqft |
2022-02-01 | 31 days | 1,636 sqft |
2022-03-01 | 23 days | 1,633 sqft |
2022-04-01 | 14 days | 1,657 sqft |
2022-05-01 | 15 days | 1,707 sqft |
2022-06-01 | 17 days | 1,777 sqft |
2022-07-01 | 23 days | 1,773 sqft |
2022-08-01 | 33 days | 1,769 sqft |
2022-09-01 | 39 days | 1,756 sqft |
2022-10-01 | 43 days | 1,776 sqft |
2022-11-01 | 48 days | 1,691 sqft |
2022-12-01 | 60 days | 1,680 sqft |
2023-01-01 | 70 days | 1,684 sqft |
2023-02-01 | 68 days | 1,668 sqft |
2023-03-01 | 59 days | 1,663 sqft |
2023-04-01 | 30 days | 1,664 sqft |
Portland's median square footage for active listings during the 2023-04-01 period was 1,664 sqft. One year prior, the average listing was 1,657 sqft.