Salem USDA Loan Rates, Closing Costs & Stats
SALEM, OR
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.
Salem's 6 lenders originated 7 USDA loans during 2023. The total origination value was $2,335,000, with an average USDA loan value of $333,571.
Salem USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Salem
averaged
6.01%
for the week of 2024-12-13, compared to the national average (all USDA variants) of
6.303% for the same period.
Salem's average USDA mortgage closing costs are $7,677.
The average rate for the prior week (2024-12-06) was
6.15% and
one month ago for the week of 2024-11-08, the
average rate was 6.56%.
The average rate one year ago was 6.53%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.6%.
Salem 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 Salem level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| GUILD MORTGAGE COMPANY | 2 | 6.38% | $14,734 |
| AMERICAN FINANCIAL NETWORK, INC. | 1 | 6.13% | $14,064 |
| GENEVA FINANCIAL, LLC | 1 | 5.50% | $15,978 |
| LEADERONE FINANCIAL CORPORATION | 1 | 5.88% | $16,963 |
| Sierra Pacific Mortgage Company, Inc. | 1 | 5.00% | $14,503 |
| Willamette Valley Bank | 1 | 5.50% | $12,428 |
The top Salem USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with
2 USDA loans originated. Their average total fees are
$14,734, which is $670
higher than the next largest lender,
AMERICAN FINANCIAL NETWORK, INC..
The lowest fee Salem USDA lenders (with over 10 loans originated) are
.
The lowest rate Salem USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Salem (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 | $377,425 (36.6%) | $492,987 (35.6%) | 1.40 | 714 |
| 2018-02-01 | $377,450 (34.3%) | $486,422 (32.0%) | 1.37 | 712 |
| 2018-03-01 | $374,900 (32.3%) | $478,838 (28.6%) | 1.32 | 740 |
| 2018-04-01 | $384,175 (30.2%) | $499,384 (29.3%) | 1.30 | 763 |
| 2018-05-01 | $389,450 (31.1%) | $496,079 (28.1%) | 1.30 | 857 |
| 2018-06-01 | $385,900 (29.8%) | $488,871 (29.3%) | 1.29 | 924 |
| 2018-07-01 | $394,700 (12.2%) | $487,251 (10.3%) | 1.32 | 978 |
| 2018-08-01 | $375,450 (5.3%) | $461,644 (2.0%) | 1.26 | 1,168 |
| 2018-09-01 | $369,900 (5.7%) | $450,427 (0.4%) | 1.24 | 1,235 |
| 2018-10-01 | $367,450 (0.0%) | $448,628 (-2.8%) | 1.24 | 1,236 |
| 2018-11-01 | $362,200 (-2.1%) | $438,794 (-6.5%) | 1.23 | 1,223 |
| 2018-12-01 | $364,900 (-3.1%) | $443,344 (-9.0%) | 1.26 | 1,130 |
| 2019-01-01 | $367,450 (-2.6%) | $440,820 (-10.6%) | 1.27 | 1,065 |
| 2019-02-01 | $362,450 (-4.0%) | $423,227 (-13.0%) | 1.22 | 1,025 |
| 2019-03-01 | $364,371 (-2.8%) | $423,621 (-11.5%) | 1.19 | 1,035 |
| 2019-04-01 | $365,000 (-5.0%) | $425,952 (-14.7%) | 1.16 | 1,063 |
| 2019-05-01 | $365,175 (-6.2%) | $429,796 (-13.4%) | 1.14 | 1,141 |
| 2019-06-01 | $365,000 (-5.4%) | $428,623 (-12.3%) | 1.14 | 1,253 |
| 2019-07-01 | $369,900 (-6.3%) | $429,676 (-11.8%) | 1.16 | 1,317 |
| 2019-08-01 | $373,609 (-0.5%) | $434,708 (-5.8%) | 1.18 | 1,299 |
| 2019-09-01 | $371,523 (0.4%) | $443,484 (-1.5%) | 1.19 | 1,288 |
| 2019-10-01 | $372,682 (1.4%) | $453,796 (1.2%) | 1.20 | 1,253 |
| 2019-11-01 | $380,450 (5.0%) | $462,231 (5.3%) | 1.25 | 1,126 |
| 2019-12-01 | $380,000 (4.1%) | $467,497 (5.5%) | 1.27 | 978 |
| 2020-01-01 | $387,475 (5.5%) | $474,112 (7.6%) | 1.29 | 852 |
| 2020-02-01 | $389,900 (7.6%) | $480,831 (13.6%) | 1.28 | 794 |
| 2020-03-01 | $404,975 (11.1%) | $501,706 (18.4%) | 1.27 | 770 |
| 2020-04-01 | $399,450 (9.4%) | $481,605 (13.1%) | 1.25 | 833 |
| 2020-05-01 | $414,900 (13.6%) | $503,742 (17.2%) | 1.26 | 767 |
| 2020-06-01 | $423,925 (16.1%) | $516,805 (20.6%) | 1.25 | 668 |
| 2020-07-01 | $429,450 (16.1%) | $532,956 (24.0%) | 1.24 | 632 |
| 2020-08-01 | $425,000 (13.8%) | $540,325 (24.3%) | 1.22 | 578 |
| 2020-09-01 | $438,075 (17.9%) | $553,802 (24.9%) | 1.26 | 496 |
| 2020-10-01 | $419,999 (12.7%) | $542,943 (19.6%) | 1.20 | 498 |
| 2020-11-01 | $429,900 (13.0%) | $559,831 (21.1%) | 1.26 | 418 |
| 2020-12-01 | $424,500 (11.7%) | $568,387 (21.6%) | 1.26 | 344 |
| 2021-01-01 | $444,500 (14.7%) | $608,697 (28.4%) | 1.33 | 294 |
| 2021-02-01 | $449,300 (15.2%) | $597,622 (24.3%) | 1.31 | 255 |
| 2021-03-01 | $427,400 (5.5%) | $569,909 (13.6%) | 1.21 | 275 |
| 2021-04-01 | $433,625 (8.6%) | $597,237 (24.0%) | 1.17 | 299 |
| 2021-05-01 | $450,000 (8.5%) | $572,892 (13.7%) | 1.20 | 355 |
| 2021-06-01 | $462,218 (9.0%) | $591,684 (14.5%) | 1.22 | 418 |
| 2021-07-01 | $449,950 (4.8%) | $597,008 (12.0%) | 1.19 | 509 |
| 2021-08-01 | $462,104 (8.7%) | $596,846 (10.5%) | 1.23 | 573 |
| 2021-09-01 | $463,500 (5.8%) | $619,073 (11.8%) | 1.24 | 625 |
| 2021-10-01 | $450,000 (7.1%) | $621,742 (14.5%) | 1.20 | 622 |
| 2021-11-01 | $454,475 (5.7%) | $633,856 (13.2%) | 1.21 | 530 |
| 2021-12-01 | $482,975 (13.8%) | $663,040 (16.7%) | 1.31 | 438 |
| 2022-01-01 | $496,475 (11.7%) | $730,178 (20.0%) | 1.34 | 345 |
| 2022-02-01 | $499,000 (11.1%) | $765,098 (28.0%) | 1.30 | 326 |
| 2022-03-01 | $509,950 (19.3%) | $744,159 (30.6%) | 1.28 | 348 |
| 2022-04-01 | $506,630 (16.8%) | $686,111 (14.9%) | 1.21 | 414 |
| 2022-05-01 | $509,998 (13.3%) | $660,496 (15.3%) | 1.17 | 503 |
| 2022-06-01 | $504,945 (9.2%) | $645,544 (9.1%) | 1.12 | 619 |
| 2022-07-01 | $499,900 (11.1%) | $617,545 (3.4%) | 1.13 | 815 |
| 2022-08-01 | $499,000 (8.0%) | $607,389 (1.8%) | 1.15 | 897 |
| 2022-09-01 | $497,000 (7.2%) | $604,679 (-2.3%) | 1.16 | 935 |
| 2022-10-01 | $489,225 (8.7%) | $567,286 (-8.8%) | 1.15 | 975 |
| 2022-11-01 | $484,945 (6.7%) | $570,383 (-10.0%) | 1.17 | 954 |
| 2022-12-01 | $489,000 (1.3%) | $589,835 (-11.0%) | 1.21 | 838 |
| 2023-01-01 | $491,998 (-0.9%) | $589,971 (-19.2%) | 1.22 | 727 |
| 2023-02-01 | $497,000 (-0.4%) | $596,657 (-22.0%) | 1.20 | 646 |
| 2023-03-01 | $500,724 (-1.8%) | $614,653 (-17.4%) | 1.18 | 642 |
| 2023-04-01 | $506,140 (-0.1%) | $627,086 (-8.6%) | 1.18 | 604 |
| 2023-05-01 | $507,450 (-0.5%) | $633,381 (-4.1%) | 1.15 | 639 |
| 2023-06-01 | $503,868 (-0.2%) | $621,945 (-3.7%) | 1.13 | 748 |
| 2023-07-01 | $525,000 (5.0%) | $631,180 (2.2%) | 1.19 | 819 |
| 2023-08-01 | $517,474 (3.7%) | $632,566 (4.2%) | 1.19 | 864 |
| 2023-09-01 | $495,000 (-0.4%) | $610,032 (0.9%) | 1.15 | 881 |
| 2023-10-01 | $489,450 (0.1%) | $606,533 (6.9%) | 1.15 | 905 |
| 2023-11-01 | $481,450 (-0.7%) | $603,261 (5.8%) | 1.15 | 875 |
| 2023-12-01 | $475,000 (-2.9%) | $599,052 (1.6%) | 1.16 | 809 |
| 2024-01-01 | $481,995 (-2.0%) | $611,083 (3.6%) | 1.18 | 728 |
| 2024-02-01 | $489,220 (-1.6%) | $614,220 (2.9%) | 1.18 | 684 |
| 2024-03-01 | $499,000 (-0.3%) | $625,846 (1.8%) | 1.17 | 712 |
| 2024-04-01 | $510,950 (1.0%) | $630,805 (0.6%) | 1.19 | 802 |
| 2024-05-01 | $525,000 (3.5%) | $642,777 (1.5%) | 1.19 | 885 |
| 2024-06-01 | $525,000 (4.2%) | $636,285 (2.3%) | 1.18 | 966 |
| 2024-07-01 | $519,950 (-1.0%) | $634,457 (0.5%) | 1.19 | 1,096 |
| 2024-08-01 | $525,000 (1.5%) | $635,382 (0.5%) | 1.22 | 1,123 |
| 2024-09-01 | $523,950 (5.9%) | $631,592 (3.5%) | 1.23 | 1,094 |
| 2024-10-01 | $522,450 (6.7%) | $626,372 (3.3%) | 1.23 | 1,050 |
| 2024-11-01 | $520,000 (8.0%) | $620,855 (2.9%) | 1.25 | 1,015 |
Salem's median listing price comes in at 125% of the national average.
Salem's average listing price for 2024-11-01 was $620,855, a difference of $17,594 (2.9%) versus the prior year and $-5,517 versus the prior month.
For the 2024-11-01 period, Salem had 1,015 MLS listings, a difference of -35 listings (-3%) versus the prior month and 140 listings (16%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Salem (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 69 days | 2,099 sqft |
| 2018-02-01 | 53 days | 2,058 sqft |
| 2018-03-01 | 38 days | 2,032 sqft |
| 2018-04-01 | 39 days | 2,037 sqft |
| 2018-05-01 | 31 days | 2,070 sqft |
| 2018-06-01 | 33 days | 2,030 sqft |
| 2018-07-01 | 41 days | 2,079 sqft |
| 2018-08-01 | 36 days | 2,031 sqft |
| 2018-09-01 | 43 days | 1,994 sqft |
| 2018-10-01 | 55 days | 1,996 sqft |
| 2018-11-01 | 56 days | 1,968 sqft |
| 2018-12-01 | 66 days | 1,971 sqft |
| 2019-01-01 | 73 days | 1,949 sqft |
| 2019-02-01 | 55 days | 1,932 sqft |
| 2019-03-01 | 48 days | 1,956 sqft |
| 2019-04-01 | 45 days | 1,951 sqft |
| 2019-05-01 | 41 days | 1,928 sqft |
| 2019-06-01 | 37 days | 1,950 sqft |
| 2019-07-01 | 40 days | 1,955 sqft |
| 2019-08-01 | 45 days | 1,990 sqft |
| 2019-09-01 | 50 days | 1,999 sqft |
| 2019-10-01 | 52 days | 2,018 sqft |
| 2019-11-01 | 57 days | 2,027 sqft |
| 2019-12-01 | 68 days | 2,005 sqft |
| 2020-01-01 | 75 days | 1,993 sqft |
| 2020-02-01 | 67 days | 1,995 sqft |
| 2020-03-01 | 45 days | 2,023 sqft |
| 2020-04-01 | 46 days | 1,989 sqft |
| 2020-05-01 | 52 days | 2,076 sqft |
| 2020-06-01 | 45 days | 2,144 sqft |
| 2020-07-01 | 35 days | 2,157 sqft |
| 2020-08-01 | 33 days | 2,053 sqft |
| 2020-09-01 | 37 days | 2,097 sqft |
| 2020-10-01 | 38 days | 2,017 sqft |
| 2020-11-01 | 55 days | 2,029 sqft |
| 2020-12-01 | 57 days | 1,989 sqft |
| 2021-01-01 | 37 days | 2,084 sqft |
| 2021-02-01 | 30 days | 1,956 sqft |
| 2021-03-01 | 19 days | 1,873 sqft |
| 2021-04-01 | 19 days | 1,868 sqft |
| 2021-05-01 | 15 days | 1,880 sqft |
| 2021-06-01 | 18 days | 1,944 sqft |
| 2021-07-01 | 22 days | 1,933 sqft |
| 2021-08-01 | 24 days | 1,938 sqft |
| 2021-09-01 | 28 days | 1,907 sqft |
| 2021-10-01 | 31 days | 1,851 sqft |
| 2021-11-01 | 37 days | 1,872 sqft |
| 2021-12-01 | 44 days | 1,932 sqft |
| 2022-01-01 | 52 days | 1,952 sqft |
| 2022-02-01 | 28 days | 1,896 sqft |
| 2022-03-01 | 27 days | 1,908 sqft |
| 2022-04-01 | 22 days | 1,864 sqft |
| 2022-05-01 | 25 days | 1,912 sqft |
| 2022-06-01 | 23 days | 1,897 sqft |
| 2022-07-01 | 29 days | 1,855 sqft |
| 2022-08-01 | 36 days | 1,901 sqft |
| 2022-09-01 | 46 days | 1,899 sqft |
| 2022-10-01 | 48 days | 1,842 sqft |
| 2022-11-01 | 55 days | 1,812 sqft |
| 2022-12-01 | 71 days | 1,848 sqft |
| 2023-01-01 | 83 days | 1,846 sqft |
| 2023-02-01 | 84 days | 1,863 sqft |
| 2023-03-01 | 56 days | 1,890 sqft |
| 2023-04-01 | 50 days | 1,851 sqft |
| 2023-05-01 | 34 days | 1,871 sqft |
| 2023-06-01 | 33 days | 1,805 sqft |
| 2023-07-01 | 40 days | 1,865 sqft |
| 2023-08-01 | 45 days | 1,865 sqft |
| 2023-09-01 | 51 days | 1,824 sqft |
| 2023-10-01 | 55 days | 1,815 sqft |
| 2023-11-01 | 58 days | 1,790 sqft |
| 2023-12-01 | 71 days | 1,781 sqft |
| 2024-01-01 | 79 days | 1,733 sqft |
| 2024-02-01 | 73 days | 1,746 sqft |
| 2024-03-01 | 50 days | 1,815 sqft |
| 2024-04-01 | 37 days | 1,865 sqft |
| 2024-05-01 | 38 days | 1,895 sqft |
| 2024-06-01 | 45 days | 1,901 sqft |
| 2024-07-01 | 47 days | 1,878 sqft |
| 2024-08-01 | 50 days | 1,900 sqft |
| 2024-09-01 | 63 days | 1,888 sqft |
| 2024-10-01 | 65 days | 1,879 sqft |
| 2024-11-01 | 65 days | 1,873 sqft |
Salem's median square footage for active listings during the 2024-11-01 period was 1,873 sqft. One year prior, the average listing was 1,790 sqft.