Salem USDA Loan Rates, Closing Costs & Stats

SALEM, OR

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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.

    Salem's 10 lenders originated 14 USDA loans during 2024. The total origination value was $5,080,000, with an average USDA loan value of $362,857.

    Salem USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Salem averaged 0.12% for the week of 2025-07-04, compared to the national average (all USDA variants) of 0% for the same period.

    Salem's average USDA mortgage closing costs are $7,790.

    The average rate for the prior week (2025-06-27) was 6.56% and one month ago for the week of 2025-05-30, the average rate was 6.74%.

    The average rate one year ago was 6.84%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.18%.

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

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Cornerstone First Mortgage, Inc 2 6.31% $12,945
    Equity Prime Mortgage LLC 2 6.19% $13,416
    UNITED WHOLESALE MORTGAGE, LLC 2 5.44% $15,004
    GUARANTEED RATE, INC. 1 5.99% $11,505
    GUILD MORTGAGE COMPANY 1 5.38% $14,210
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.25% $19,741
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.50% $11,421
    Summit Mortgage Corporation 1 5.50% $9,787
    SUMMIT MORTGAGE CORPORATION 1 6.62% $10,364
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.00% $8,571

    The top Salem USDA lender as defined by loan originations is Cornerstone First Mortgage, Inc, with 2 USDA loans originated. Their average total fees are $12,945, which is $471 lower than the next largest lender, Equity Prime Mortgage LLC.

    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 (36.0%) 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 (31.4%) $496,079 (28.1%) 1.30 857
    2018-06-01 $385,900 (29.9%) $488,871 (29.4%) 1.29 924
    2018-07-01 $394,700 (12.3%) $487,251 (10.4%) 1.32 978
    2018-08-01 $375,450 (5.3%) $461,644 (2.1%) 1.26 1,168
    2018-09-01 $369,900 (5.7%) $450,427 (0.5%) 1.24 1,235
    2018-10-01 $367,450 (0.0%) $448,628 (-2.7%) 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 1,131
    2019-01-01 $367,950 (-2.5%) $440,939 (-10.6%) 1.27 1,066
    2019-02-01 $362,550 (-4.0%) $423,348 (-13.0%) 1.22 1,026
    2019-03-01 $364,371 (-2.8%) $423,742 (-11.5%) 1.19 1,036
    2019-04-01 $365,000 (-5.0%) $426,010 (-14.7%) 1.16 1,063
    2019-05-01 $364,950 (-6.3%) $429,362 (-13.5%) 1.14 1,140
    2019-06-01 $364,998 (-5.4%) $428,208 (-12.4%) 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%) $434,696 (-5.8%) 1.18 1,298
    2019-09-01 $371,523 (0.4%) $443,452 (-1.6%) 1.19 1,287
    2019-10-01 $372,682 (1.4%) $453,756 (1.1%) 1.20 1,252
    2019-11-01 $380,000 (4.9%) $462,200 (5.3%) 1.25 1,125
    2019-12-01 $380,000 (4.1%) $467,481 (5.4%) 1.27 978
    2020-01-01 $387,475 (5.3%) $474,112 (7.5%) 1.29 852
    2020-02-01 $389,900 (7.5%) $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 (13.7%) $503,742 (17.3%) 1.26 767
    2020-06-01 $423,925 (16.1%) $516,805 (20.7%) 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 (19.7%) 1.20 498
    2020-11-01 $429,900 (13.1%) $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%) $569,194 (13.0%) 1.20 354
    2021-06-01 $462,218 (9.0%) $589,623 (14.1%) 1.22 418
    2021-07-01 $449,950 (4.8%) $595,122 (11.7%) 1.19 509
    2021-08-01 $462,104 (8.7%) $595,086 (10.1%) 1.23 573
    2021-09-01 $463,500 (5.8%) $617,436 (11.5%) 1.24 625
    2021-10-01 $450,000 (7.1%) $622,429 (14.6%) 1.20 623
    2021-11-01 $455,225 (5.9%) $634,623 (13.4%) 1.22 531
    2021-12-01 $482,975 (13.8%) $663,040 (16.7%) 1.31 439
    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 (16.0%) 1.17 503
    2022-06-01 $504,945 (9.2%) $645,544 (9.5%) 1.12 619
    2022-07-01 $499,900 (11.1%) $617,545 (3.8%) 1.13 815
    2022-08-01 $499,000 (8.0%) $607,389 (2.1%) 1.15 897
    2022-09-01 $497,000 (7.2%) $604,679 (-2.1%) 1.16 935
    2022-10-01 $489,225 (8.7%) $567,286 (-8.9%) 1.15 975
    2022-11-01 $484,945 (6.5%) $570,383 (-10.1%) 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 $522,450 (3.0%) $634,712 (0.2%) 1.19 885
    2024-06-01 $522,750 (3.8%) $630,666 (1.4%) 1.19 969
    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%) $631,585 (3.5%) 1.23 1,094
    2024-10-01 $522,450 (6.7%) $626,372 (3.3%) 1.23 1,049
    2024-11-01 $520,000 (8.0%) $620,855 (2.9%) 1.25 1,014
    2024-12-01 $520,000 (9.5%) $614,898 (2.7%) 1.29 870
    2025-01-01 $523,000 (8.5%) $617,326 (1.0%) 1.31 786
    2025-02-01 $536,850 (9.7%) $630,824 (2.7%) 1.30 809
    2025-03-01 $549,900 (10.2%) $644,944 (3.1%) 1.29 833
    2025-04-01 $547,225 (7.1%) $638,059 (1.2%) 1.27 876
    2025-05-01 $539,900 (3.3%) $650,636 (2.5%) 1.23 973
    Salem's median listing price for 2025-05-01 was $539,900, a difference of $17,450 (3.3%) versus the prior year and $-7,325 versus the prior month.

    Salem's median listing price comes in at 123% of the national average.

    Salem's average listing price for 2025-05-01 was $650,636, a difference of $15,924 (2.5%) versus the prior year and $12,577 versus the prior month.

    For the 2025-05-01 period, Salem had 973 MLS listings, a difference of 97 listings (11%) versus the prior month and 88 listings (10%) 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 1,969 sqft
    2019-01-01 73 days 1,949 sqft
    2019-02-01 55 days 1,931 sqft
    2019-03-01 48 days 1,955 sqft
    2019-04-01 45 days 1,952 sqft
    2019-05-01 41 days 1,927 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 1,998 sqft
    2019-10-01 52 days 2,017 sqft
    2019-11-01 57 days 2,026 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 14 days 1,879 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 32 days 1,856 sqft
    2021-11-01 37 days 1,876 sqft
    2021-12-01 44 days 1,932 sqft
    2022-01-01 52 days 1,952 sqft
    2022-02-01 28 days 1,893 sqft
    2022-03-01 27 days 1,905 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 39 days 1,881 sqft
    2024-06-01 46 days 1,896 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
    2024-12-01 74 days 1,850 sqft
    2025-01-01 79 days 1,865 sqft
    2025-02-01 79 days 1,882 sqft
    2025-03-01 56 days 1,883 sqft
    2025-04-01 51 days 1,886 sqft
    2025-05-01 51 days 1,902 sqft
    Salem's median listing age (time on market) for 2025-05-01 was 51 days. This is 32% longer than the same period one year ago.

    Salem's median square footage for active listings during the 2025-05-01 period was 1,902 sqft. One year prior, the average listing was 1,881 sqft.