Salisbury USDA Loan Rates, Closing Costs & Stats

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 31 lenders originated 81 USDA loans during 2023. The total origination value was $20,055,000, with an average USDA loan value of $247,593.

Salisbury USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Salisbury averaged 6.77% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Salisbury's average USDA mortgage closing costs are $6,530.

The average rate for the prior week (2024-04-05) was 6.5% and one month ago for the week of 2024-03-08, the average rate was 6.76%.

The average rate one year ago was 6.07%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.56%.

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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Salisbury level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Meridian Bank Corporation 20 6.48% $9,855
MOVEMENT MORTGAGE, LLC 9 6.26% $8,007
TIDEWATER MORTGAGE SERVICES, INC. 5 6.60% $13,350
Nations Lending Corporation 4 6.16% $6,426
NFM, INC. 3 6.50% $9,833
FIRST HOME MORTGAGE CORPORATION 3 6.33% $8,910
GUARANTEED RATE AFFINITY, LLC 3 6.50% $9,842
EMM LOANS LLC 2 5.88% $11,054
PLAZA HOME MORTGAGE, INC. 2 6.63% $8,730
CMG MORTGAGE, INC. 2 6.94% $6,760
RADIUS FINANCIAL GROUP INC. 2 6.56% $9,426
SUN WEST MORTGAGE COMPANY, INC. 2 5.93% $17,026
PLANET HOME LENDING, LLC 1 5.63% $9,512
Prosperity Home Mortgage, LLC 1 5.99% $11,569
Sierra Pacific Mortgage Company, Inc. 1 6.75% $14,127
The Federal Savings Bank 1 6.88% $14,210
UNITED WHOLESALE MORTGAGE, LLC 1 6.62% $9,035
Waterstone Mortgage Corporation 1 6.13% $8,289
ACADEMY MORTGAGE CORPORATION 1 5.88% $14,721
Wells Fargo Bank 1 5.38% $2,835
ALLIED MORTGAGE GROUP, INC. 1 6.63% $7,809
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.75% $8,385
Bank of England 1 6.25% $8,074
CALIBER HOME LOANS, INC. 1 5.75% $8,398
CHURCHILL MORTGAGE CORPORATION 1 7.13% $6,301
CROSSCOUNTRY MORTGAGE, LLC 1 6.50% $8,496
Evolve Bank & Trust 1 6.50% $10,428
FIDELITY DIRECT MORTGAGE, LLC 1 5.63% $9,512
Ixonia Bank 1 6.50% $7,734
Northpointe Bank 1 5.75% $8,324
Paramount Residential Mortgage Group, Inc. 1 6.50% $11,942

The top Salisbury USDA lender as defined by loan originations is Meridian Bank Corporation, with 20 USDA loans originated. Their average total fees are $9,855, which is $1,848 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Salisbury USDA lenders (with over 10 loans originated) are Meridian Bank Corporation ($9,855), .

The lowest rate Salisbury USDA lenders (with over 10 loans originated) are Meridian Bank Corporation (6.48%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Salisbury (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 $299,900 (2.7%) $398,289 (3.1%) 1.11 3,934
2018-02-01 $301,812 (1.9%) $400,441 (3.0%) 1.10 4,035
2018-03-01 $305,000 (1.7%) $399,534 (1.5%) 1.07 4,115
2018-04-01 $313,400 (4.5%) $408,937 (3.3%) 1.06 4,241
2018-05-01 $314,950 (5.0%) $414,194 (3.7%) 1.05 4,351
2018-06-01 $315,000 (3.6%) $412,782 (1.9%) 1.05 4,385
2018-07-01 $318,500 (4.3%) $420,562 (3.8%) 1.06 4,255
2018-08-01 $319,000 (2.9%) $421,794 (3.3%) 1.07 4,257
2018-09-01 $318,000 (2.7%) $423,225 (3.7%) 1.07 4,322
2018-10-01 $319,990 (4.3%) $428,232 (4.8%) 1.08 4,306
2018-11-01 $319,945 (5.0%) $429,262 (5.9%) 1.08 4,207
2018-12-01 $319,000 (6.4%) $418,893 (5.3%) 1.10 4,024
2019-01-01 $312,000 (4.0%) $411,292 (3.3%) 1.08 3,850
2019-02-01 $317,450 (5.2%) $420,089 (4.9%) 1.07 3,993
2019-03-01 $322,143 (5.6%) $431,470 (8.0%) 1.05 4,066
2019-04-01 $326,523 (4.2%) $442,884 (8.3%) 1.04 4,145
2019-05-01 $332,447 (5.6%) $447,301 (8.0%) 1.04 4,197
2019-06-01 $335,000 (6.4%) $446,625 (8.2%) 1.05 4,208
2019-07-01 $335,950 (5.5%) $447,802 (6.5%) 1.05 4,054
2019-08-01 $336,355 (5.4%) $447,478 (6.1%) 1.07 3,949
2019-09-01 $335,536 (5.5%) $446,746 (5.6%) 1.07 3,912
2019-10-01 $334,950 (4.7%) $446,833 (4.3%) 1.08 3,872
2019-11-01 $332,995 (4.1%) $447,569 (4.3%) 1.09 3,700
2019-12-01 $329,900 (3.4%) $439,718 (5.0%) 1.10 3,463
2020-01-01 $329,900 (5.7%) $439,250 (6.8%) 1.10 3,327
2020-02-01 $330,000 (4.0%) $446,717 (6.3%) 1.08 3,363
2020-03-01 $339,000 (5.2%) $452,092 (4.8%) 1.06 3,390
2020-04-01 $337,975 (3.5%) $447,284 (1.0%) 1.06 3,406
2020-05-01 $339,990 (2.3%) $452,990 (1.3%) 1.03 3,293
2020-06-01 $347,200 (3.6%) $466,099 (4.4%) 1.02 2,891
2020-07-01 $349,350 (4.0%) $478,702 (6.9%) 1.01 2,518
2020-08-01 $354,400 (5.4%) $495,738 (10.8%) 1.02 2,232
2020-09-01 $355,450 (5.9%) $502,573 (12.5%) 1.02 2,044
2020-10-01 $356,295 (6.4%) $513,327 (14.9%) 1.02 1,891
2020-11-01 $357,065 (7.2%) $515,625 (15.2%) 1.04 1,748
2020-12-01 $358,425 (8.7%) $513,231 (16.7%) 1.07 1,621
2021-01-01 $359,560 (9.0%) $514,444 (17.1%) 1.07 1,448
2021-02-01 $366,450 (11.1%) $523,616 (17.2%) 1.07 1,252
2021-03-01 $380,725 (12.3%) $532,858 (17.9%) 1.08 1,207
2021-04-01 $389,823 (15.3%) $555,886 (24.3%) 1.06 1,168
2021-05-01 $399,900 (17.6%) $562,847 (24.3%) 1.06 1,118
2021-06-01 $410,450 (18.2%) $564,658 (21.2%) 1.08 1,238
2021-07-01 $419,900 (20.2%) $555,173 (16.0%) 1.11 1,326
2021-08-01 $424,950 (19.9%) $560,579 (13.1%) 1.13 1,289
2021-09-01 $424,000 (19.3%) $557,205 (10.9%) 1.13 1,314
2021-10-01 $439,000 (23.2%) $568,794 (10.8%) 1.17 1,330
2021-11-01 $441,225 (23.6%) $569,492 (10.5%) 1.18 1,247
2021-12-01 $446,950 (24.7%) $571,822 (11.4%) 1.21 1,091
2022-01-01 $458,000 (27.4%) $594,042 (15.5%) 1.24 940
2022-02-01 $486,250 (32.7%) $613,103 (17.1%) 1.26 955
2022-03-01 $488,660 (28.4%) $604,526 (13.5%) 1.22 1,046
2022-04-01 $499,999 (28.3%) $642,780 (15.6%) 1.19 1,075
2022-05-01 $499,947 (25.0%) $655,245 (16.4%) 1.14 1,194
2022-06-01 $499,968 (21.8%) $637,841 (13.0%) 1.11 1,325
2022-07-01 $509,900 (21.4%) $662,334 (19.3%) 1.15 1,463
2022-08-01 $499,947 (17.7%) $660,756 (17.9%) 1.16 1,497
2022-09-01 $499,950 (17.9%) $661,241 (18.7%) 1.17 1,551
2022-10-01 $505,000 (15.0%) $653,140 (14.8%) 1.19 1,646
2022-11-01 $499,945 (13.3%) $648,756 (13.9%) 1.20 1,644
2022-12-01 $494,900 (10.7%) $631,881 (10.5%) 1.22 1,536
2023-01-01 $497,375 (8.6%) $638,687 (7.5%) 1.23 1,396
2023-02-01 $504,990 (3.9%) $653,235 (6.6%) 1.22 1,363
2023-03-01 $502,425 (2.8%) $652,669 (8.0%) 1.19 1,390
2023-04-01 $529,900 (6.0%) $674,877 (5.0%) 1.23 1,393
2023-05-01 $529,995 (6.0%) $669,845 (2.2%) 1.20 1,456
2023-06-01 $528,995 (5.8%) $679,430 (6.5%) 1.19 1,496
2023-07-01 $519,000 (1.8%) $664,406 (0.3%) 1.18 1,548
2023-08-01 $514,945 (3.0%) $664,026 (0.5%) 1.18 1,564
2023-09-01 $509,990 (2.0%) $658,253 (-0.5%) 1.19 1,665
2023-10-01 $510,000 (1.0%) $666,352 (2.0%) 1.20 1,720
2023-11-01 $497,000 (-0.6%) $646,555 (-0.3%) 1.18 1,831
2023-12-01 $484,900 (-2.0%) $631,096 (-0.1%) 1.18 1,738
2024-01-01 $484,250 (-2.6%) $624,103 (-2.3%) 1.18 1,699
2024-02-01 $486,000 (-3.8%) $622,329 (-4.7%) 1.17 1,782
2024-03-01 $499,250 (-0.6%) $641,446 (-1.7%) 1.18 1,877
Salisbury's median listing price for 2024-03-01 was $499,250, a difference of $-3,175 (-0.6%) versus the prior year and $13,250 versus the prior month.

Salisbury's median listing price comes in at 118% of the national average.

Salisbury's average listing price for 2024-03-01 was $641,446, a difference of $-11,223 (-1.7%) versus the prior year and $19,117 versus the prior month.

For the 2024-03-01 period, Salisbury had 1,877 MLS listings, a difference of 95 listings (5%) versus the prior month and 487 listings (35%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Salisbury (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 111 days 1,798 sqft
2018-02-01 104 days 1,800 sqft
2018-03-01 85 days 1,798 sqft
2018-04-01 76 days 1,800 sqft
2018-05-01 76 days 1,826 sqft
2018-06-01 80 days 1,821 sqft
2018-07-01 85 days 1,851 sqft
2018-08-01 89 days 1,851 sqft
2018-09-01 89 days 1,842 sqft
2018-10-01 85 days 1,840 sqft
2018-11-01 91 days 1,831 sqft
2018-12-01 100 days 1,816 sqft
2019-01-01 110 days 1,800 sqft
2019-02-01 111 days 1,792 sqft
2019-03-01 94 days 1,821 sqft
2019-04-01 74 days 1,849 sqft
2019-05-01 75 days 1,865 sqft
2019-06-01 79 days 1,860 sqft
2019-07-01 85 days 1,869 sqft
2019-08-01 85 days 1,883 sqft
2019-09-01 83 days 1,881 sqft
2019-10-01 82 days 1,879 sqft
2019-11-01 86 days 1,866 sqft
2019-12-01 98 days 1,856 sqft
2020-01-01 106 days 1,854 sqft
2020-02-01 96 days 1,860 sqft
2020-03-01 72 days 1,870 sqft
2020-04-01 77 days 1,873 sqft
2020-05-01 90 days 1,892 sqft
2020-06-01 96 days 1,926 sqft
2020-07-01 82 days 1,952 sqft
2020-08-01 61 days 1,949 sqft
2020-09-01 51 days 1,913 sqft
2020-10-01 57 days 1,900 sqft
2020-11-01 61 days 1,879 sqft
2020-12-01 69 days 1,853 sqft
2021-01-01 78 days 1,845 sqft
2021-02-01 73 days 1,848 sqft
2021-03-01 57 days 1,861 sqft
2021-04-01 51 days 1,857 sqft
2021-05-01 49 days 1,895 sqft
2021-06-01 41 days 1,914 sqft
2021-07-01 40 days 1,915 sqft
2021-08-01 46 days 1,887 sqft
2021-09-01 47 days 1,864 sqft
2021-10-01 49 days 1,880 sqft
2021-11-01 49 days 1,871 sqft
2021-12-01 62 days 1,871 sqft
2022-01-01 73 days 1,893 sqft
2022-02-01 55 days 1,965 sqft
2022-03-01 39 days 1,961 sqft
2022-04-01 42 days 1,976 sqft
2022-05-01 44 days 2,000 sqft
2022-06-01 42 days 2,004 sqft
2022-07-01 47 days 2,016 sqft
2022-08-01 51 days 2,028 sqft
2022-09-01 55 days 2,038 sqft
2022-10-01 56 days 2,053 sqft
2022-11-01 57 days 2,013 sqft
2022-12-01 77 days 2,000 sqft
2023-01-01 91 days 1,995 sqft
2023-02-01 84 days 2,016 sqft
2023-03-01 54 days 2,005 sqft
2023-04-01 55 days 2,023 sqft
2023-05-01 51 days 2,023 sqft
2023-06-01 50 days 2,079 sqft
2023-07-01 53 days 2,023 sqft
2023-08-01 57 days 2,001 sqft
2023-09-01 54 days 1,980 sqft
2023-10-01 50 days 1,938 sqft
2023-11-01 52 days 1,907 sqft
2023-12-01 63 days 1,858 sqft
2024-01-01 75 days 1,839 sqft
2024-02-01 70 days 1,837 sqft
2024-03-01 50 days 1,861 sqft
Salisbury's median listing age (time on market) for 2024-03-01 was 50 days. This is -8% shorter than the same period one year ago.

Salisbury's median square footage for active listings during the 2024-03-01 period was 1,861 sqft. One year prior, the average listing was 2,005 sqft.