Salisbury USDA Loans

SALISBURY, MD-DE

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.

Salisbury's 68 lenders originated 594 USDA loans during 2021. The total origination value was $131,770,000, with an average USDA loan value of $221,835.

Salisbury USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Salisbury averaged 5.21% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.34% and one month ago for the week of 2022-04-08, the average rate was 4.8%.

The average rate one year ago was 3.12%.

For refis of the same type during the week of 2022-05-13, the average rate was 4.99%.

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

Salisbury USDA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Salisbury level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Meridian Bank Corporation 104 2.87% $6,701
EMBRACE HOME LOANS, INC. 46 3.04% $6,421
MCLEAN MORTGAGE CORPORATION 45 2.93% $5,949
FIRST HOME MORTGAGE CORPORATION 28 3.02% $6,051
MOVEMENT MORTGAGE, LLC 28 2.85% $6,156
Mortgage Network, Inc. 27 2.91% $6,034
TIDEWATER MORTGAGE SERVICES, INC. 25 3.20% $7,926
NVR Mortgage Finance, Inc. 24 2.87% $7,761
DHI MORTGAGE COMPANY, LTD. 17 2.62% $6,685
Nations Lending Corporation 13 3.02% $6,845
PRIMELENDING, A PLAINSCAPITAL COMPANY 13 3.30% $6,845
CALIBER HOME LOANS, INC. 11 2.84% $6,029
CROSSCOUNTRY MORTGAGE, LLC 11 2.95% $7,007
NFM, INC. 10 3.18% $6,417
First Home Bank 10 3.08% $6,902
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 9 3.13% $7,761
GUARANTEED RATE, INC. 9 2.67% $6,250
PENNYMAC LOAN SERVICES, LLC 8 2.78% $5,024
Keystone Funding, Inc. 8 2.80% $7,345
Ameris Bank 7 2.93% $5,535
Prosperity Home Mortgage, LLC 7 2.61% $6,307
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 3.08% $7,173
ON Q FINANCIAL, INC. 6 2.64% $7,266
Northpointe Bank 6 2.96% $6,953
GUARANTEED RATE AFFINITY, LLC 6 3.10% $6,519
Wells Fargo Bank 5 2.90% $4,106
RESIDENTIAL MORTGAGE SERVICES, INC. 5 2.58% $6,142
PIKE CREEK MORTGAGE SERVICES, INC. 5 3.73% $3,753
Towne Bank 4 2.44% $6,224
HOME POINT FINANCIAL CORPORATION 4 3.00% $7,423
HOMESIDE FINANCIAL, LLC 4 2.97% $6,678
UNION HOME MORTGAGE CORP. 4 2.56% $6,407
Carrington Mortgage Services, LLC 4 3.41% $6,412
EAGLE HOME MORTGAGE, LLC 4 3.41% $9,274
The Federal Savings Bank 4 2.38% $6,839
Sierra Pacific Mortgage Company, Inc. 4 2.75% $5,034
Atlantic Home Loans, Inc. 4 2.91% $7,346
UNITED WHOLESALE MORTGAGE, LLC 3 2.85% $6,330
BAY CAPITAL MORTGAGE CORPORATION 3 2.58% $6,564
AMERICAN FINANCIAL NETWORK, INC. 3 3.33% $10,604
Bank of England 3 2.96% $7,405
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.08% $7,048
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 3.46% $6,090
LOANDEPOT.COM, LLC 3 2.92% $5,796
Wilmington Savings Fund Society, FSB 2 2.81% $5,521
APEX HOME LOANS, INC. 2 2.88% $5,913
EMM LOANS LLC 2 3.38% $6,728
Evolve Bank & Trust 2 3.25% $6,279
Fulton Bank 2 2.56% $6,278
PLAZA HOME MORTGAGE, INC. 2 3.81% $10,846
Presidential Bank, FSB 2 2.50% $7,233
SOUTHERN TRUST MORTGAGE, LLC 2 2.75% $0
Barrington Bank & Trust Company, N.A. 1 3.25% $5,641
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.50% $7,695
Manufacturers and Traders Trust Company 1 2.88% $5,292
LENDUS, LLC 1 3.88% $6,428
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.25% $7,593
George Mason Mortgage, LLC 1 2.63% $8,038
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.63% $11,998
DRAPER AND KRAMER MORTGAGE CORP. 1 3.25% $6,525
CORNERSTONE HOME LENDING, INC. 1 2.75% $5,496
CMG MORTGAGE, INC. 1 3.25% $8,279
Truist Bank 1 2.50% $5,994
C & F Mortgage Corporation 1 2.75% $8,247
Capital Bank 1 2.75% $5,410
OCEANSIDE MORTGAGE COMPANY 1 3.00% $1,503
VILLAGE CAPITAL & INVESTMENT LLC 1 2.99% $6,880
PNC Bank 1 2.75% $7,611

The top Salisbury USDA lender as defined by loan originations is Meridian Bank Corporation, with 104 USDA loans originated. Their average total fees are $6,701, which is $281 higher than the next largest lender, EMBRACE HOME LOANS, INC..

The lowest fee Salisbury USDA lenders (with over 10 loans originated) are MCLEAN MORTGAGE CORPORATION ($5,949), CALIBER HOME LOANS, INC. ($6,029), Mortgage Network, Inc. ($6,034), FIRST HOME MORTGAGE CORPORATION ($6,051) and MOVEMENT MORTGAGE, LLC ($6,156).

The lowest rate Salisbury USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (2.62%), CALIBER HOME LOANS, INC. (2.84%), MOVEMENT MORTGAGE, LLC (2.85%), Meridian Bank Corporation (2.87%) and NVR Mortgage Finance, Inc. (2.87%).