Portland USDA Loan Rates, Closing Costs & Stats

PORTLAND-SOUTH PORTLAND, ME

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    • 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 -0.17% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

    Portland's average USDA mortgage closing costs are $5,720.

    The average rate for the prior week (2023-11-17) was 6.92% and one month ago for the week of 2023-10-20, the average rate was 7.04%.

    The average rate one year ago was 5.98%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.25%.

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

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 11 4.37% $6,339
    Bangor Savings Bank 9 4.01% $6,735
    UNITED WHOLESALE MORTGAGE, LLC 5 4.76% $7,343
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 3.91% $9,039
    The Camden National Bank 3 3.67% $5,731
    TOTAL MORTGAGE SERVICES, LLC 3 4.29% $6,463
    Bath Savings Institution 3 4.33% $4,591
    DAS Acquisition Company, LLC 3 3.96% $6,666
    NORTHPOINT MORTGAGE, INC. 3 3.42% $7,939
    ACADEMY MORTGAGE CORPORATION 2 4.75% $6,083
    Mortgage Network, Inc. 2 3.93% $7,052
    NORWICH COMMERCIAL GROUP, INC. 2 5.00% $7,340
    Citizens Bank 2 4.75% $9,152
    HOME POINT FINANCIAL CORPORATION 1 5.50% $5,829
    CROSSCOUNTRY MORTGAGE, LLC 1 3.50% $9,209
    EMBRACE HOME LOANS, INC. 1 2.88% $6,062
    EVERETT FINANCIAL, INC. 1 4.99% $5,932
    Flagstar Bank, FSB 1 3.25% $11,617
    American Mortgage & Equity Consultants, Inc. 1 5.00% $10,244
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.75% $9,073
    PLAZA HOME MORTGAGE, INC. 1 6.50% $13,839
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.63% $13,722
    T2 FINANCIAL LLC 1 3.50% $6,741

    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. Louis
    Date 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 $366,429 (4.7%) $506,274 (2.3%) 1.20 1,945
    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 $388,000 (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 $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%) $546,135 (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 (9.0%) $571,487 (12.9%) 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 (9.6%) $606,061 (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 (6.5%) 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%) 1.43 589
    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 $622,500 (16.9%) $848,574 (17.7%) 1.41 726
    2023-06-01 $625,625 (15.0%) $876,887 (20.0%) 1.41 781
    2023-07-01 $624,900 (13.6%) $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 (18.6%) 1.41 1,104
    Portland's median listing price for 2023-10-01 was $599,950, a difference of $50,950 (9.3%) versus the prior year and $50 versus the prior month.

    Portland's median listing price comes in at 141% of the national average.

    Portland's average listing price for 2023-10-01 was $874,809, a difference of $137,418 (18.6%) versus the prior year and $4,389 versus the prior month.

    For the 2023-10-01 period, Portland had 1,104 MLS listings, a difference of -3 listings (0%) versus the prior month and 97 listings (10%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date 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 1,789 sqft
    2019-12-01 84 days 1,762 sqft
    2020-01-01 89 days 1,735 sqft
    2020-02-01 86 days 1,693 sqft
    2020-03-01 59 days 1,703 sqft
    2020-04-01 55 days 1,738 sqft
    2020-05-01 59 days 1,765 sqft
    2020-06-01 40 days 1,764 sqft
    2020-07-01 43 days 1,753 sqft
    2020-08-01 40 days 1,741 sqft
    2020-09-01 34 days 1,706 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 1,694 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 1,671 sqft
    2023-06-01 23 days 1,762 sqft
    2023-07-01 28 days 1,788 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
    Portland's median listing age (time on market) for 2023-10-01 was 37 days. This is -12% shorter than the same period one year ago.

    Portland's median square footage for active listings during the 2023-10-01 period was 1,758 sqft. One year prior, the average listing was 1,776 sqft.