Salisbury USDA Loan Rates, Closing Costs & Stats

SALISBURY, MD-DE

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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.

    Salisbury's 51 lenders originated 208 USDA loans during 2022. The total origination value was $49,070,000, with an average USDA loan value of $235,913.

    Salisbury USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Salisbury averaged 6.32% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

    Salisbury's average USDA mortgage closing costs are $6,434.

    The average rate for the prior week (2023-05-19) was 6.16% and one month ago for the week of 2023-04-21, the average rate was 5.77%.

    The average rate one year ago was 4.59%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.3%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Meridian Bank Corporation 40 4.69% $9,317
    TIDEWATER MORTGAGE SERVICES, INC. 15 4.56% $9,808
    Prosperity Home Mortgage, LLC 12 4.44% $7,438
    MOVEMENT MORTGAGE, LLC 11 4.45% $7,396
    Mortgage Network, Inc. 9 4.13% $7,571
    EMBRACE HOME LOANS, INC. 9 4.37% $7,267
    MCLEAN MORTGAGE CORPORATION 8 4.53% $6,262
    FIRST HOME MORTGAGE CORPORATION 7 4.36% $9,018
    UNITED WHOLESALE MORTGAGE, LLC 6 5.15% $8,162
    DHI MORTGAGE COMPANY, LTD. 6 3.56% $6,664
    HOME POINT FINANCIAL CORPORATION 6 4.35% $7,155
    HOMESIDE FINANCIAL, LLC 5 5.35% $7,652
    GUARANTEED RATE AFFINITY, LLC 5 5.08% $7,257
    Nations Lending Corporation 5 4.83% $6,119
    Northpointe Bank 4 4.03% $7,269
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 4.46% $8,308
    CALIBER HOME LOANS, INC. 3 4.78% $6,888
    CARDINAL FINANCIAL 3 4.71% $12,615
    PLAZA HOME MORTGAGE, INC. 3 4.29% $7,418
    NVR Mortgage Finance, Inc. 3 3.46% $13,646
    CMG MORTGAGE, INC. 2 6.00% $6,960
    NFM, INC. 2 5.13% $7,283
    PENNYMAC LOAN SERVICES, LLC 2 3.12% $5,280
    PIKE CREEK MORTGAGE SERVICES, INC. 2 3.81% $8,469
    Plains Commerce Bank 2 4.88% $8,181
    First Home Bank 2 3.75% $6,732
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 4.38% $8,279
    Waterstone Mortgage Corporation 2 5.13% $7,232
    ACADEMY MORTGAGE CORPORATION 2 4.69% $9,689
    Wells Fargo Bank 1 3.00% $7,069
    Acre Mortgage and Financial Inc 1 4.63% $6,100
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 3.13% $7,696
    Atlantic Union Bank 1 7.50% $6,657
    Capital Bank 1 3.75% $10,182
    CROSSCOUNTRY MORTGAGE, LLC 1 3.63% $6,298
    Dover Federal Credit Union 1 6.00% $9,429
    FIDELITY DIRECT MORTGAGE, LLC 1 2.88% $5,889
    Fulton Bank 1 3.00% $4,987
    GUARANTEED RATE, INC. 1 3.50% $9,415
    GUILD MORTGAGE COMPANY 1 3.88% $7,462
    MID AMERICA MORTGAGE, INC. 1 6.75% $7,706
    Mortgage Research Center, LLC 1 3.75% $3,843
    MY MORTGAGE, INC. 1 3.13% $8,991
    Paramount Residential Mortgage Group, Inc. 1 2.88% $5,889
    Presidential Bank, FSB 1 5.25% $9,579
    Sierra Pacific Mortgage Company, Inc. 1 2.63% $9,621
    SUMMIT FUNDING, INC. 1 4.00% $11,615
    SWBC MORTGAGE CORPORATION 1 5.13% $10,865
    TD Bank 1 4.38% $7,718
    Towne Bank 1 4.00% $15,397
    ABSOLUTE HOME MORTGAGE CORPORATION 1 5.50% $8,268

    The top Salisbury USDA lender as defined by loan originations is Meridian Bank Corporation, with 40 USDA loans originated. Their average total fees are $9,317, which is $491 lower than the next largest lender, TIDEWATER MORTGAGE SERVICES, INC..

    The lowest fee Salisbury USDA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC ($7,396), Prosperity Home Mortgage, LLC ($7,438), Meridian Bank Corporation ($9,317), TIDEWATER MORTGAGE SERVICES, INC. ($9,808) and .

    The lowest rate Salisbury USDA lenders (with over 10 loans originated) are Prosperity Home Mortgage, LLC (4.44%), MOVEMENT MORTGAGE, LLC (4.45%), TIDEWATER MORTGAGE SERVICES, INC. (4.56%), Meridian Bank Corporation (4.69%) and .

    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%) $398,367 (3.1%) 1.11 3,932
    2018-02-01 $302,450 (2.1%) $400,528 (3.0%) 1.10 4,033
    2018-03-01 $305,000 (1.7%) $399,568 (1.5%) 1.07 4,114
    2018-04-01 $313,900 (4.7%) $408,972 (3.3%) 1.06 4,240
    2018-05-01 $314,950 (5.0%) $414,187 (3.7%) 1.05 4,351
    2018-06-01 $315,000 (3.5%) $412,790 (1.8%) 1.05 4,385
    2018-07-01 $318,500 (3.8%) $420,570 (3.8%) 1.06 4,255
    2018-08-01 $319,000 (2.9%) $421,832 (3.3%) 1.07 4,256
    2018-09-01 $318,000 (2.6%) $423,225 (3.7%) 1.07 4,322
    2018-10-01 $319,990 (4.0%) $428,235 (4.8%) 1.08 4,305
    2018-11-01 $319,945 (4.9%) $429,268 (5.9%) 1.08 4,206
    2018-12-01 $319,000 (6.4%) $418,898 (5.3%) 1.10 4,023
    2019-01-01 $311,975 (4.0%) $411,295 (3.3%) 1.08 3,849
    2019-02-01 $317,450 (5.0%) $420,094 (4.9%) 1.07 3,992
    2019-03-01 $322,833 (5.9%) $428,725 (7.3%) 1.08 4,085
    2019-04-01 $326,550 (4.0%) $442,940 (8.3%) 1.04 4,188
    2019-05-01 $332,447 (5.6%) $447,301 (8.0%) 1.04 4,196
    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 $339,000 (6.3%) $452,284 (7.2%) 1.06 4,019
    2019-09-01 $339,450 (6.8%) $458,410 (8.3%) 1.07 3,763
    2019-10-01 $334,950 (4.7%) $448,357 (4.7%) 1.08 3,855
    2019-11-01 $332,995 (4.1%) $447,569 (4.3%) 1.09 3,700
    2019-12-01 $329,900 (3.4%) $439,774 (5.0%) 1.10 3,462
    2020-01-01 $329,900 (5.8%) $439,308 (6.8%) 1.10 3,326
    2020-02-01 $330,200 (4.0%) $446,776 (6.4%) 1.08 3,362
    2020-03-01 $339,100 (5.0%) $452,153 (5.5%) 1.06 3,389
    2020-04-01 $338,125 (3.5%) $447,343 (1.0%) 1.06 3,405
    2020-05-01 $339,990 (2.3%) $453,168 (1.3%) 1.03 3,290
    2020-06-01 $347,738 (3.8%) $466,216 (4.4%) 1.02 2,889
    2020-07-01 $349,450 (4.0%) $478,846 (6.9%) 1.01 2,516
    2020-08-01 $354,900 (4.7%) $495,805 (9.6%) 1.02 2,231
    2020-09-01 $355,948 (4.9%) $502,776 (9.7%) 1.02 2,043
    2020-10-01 $356,990 (6.6%) $513,515 (14.5%) 1.02 1,890
    2020-11-01 $357,391 (7.3%) $515,829 (15.3%) 1.05 1,747
    2020-12-01 $358,475 (8.7%) $513,464 (16.8%) 1.07 1,620
    2021-01-01 $359,658 (9.0%) $514,872 (17.2%) 1.07 1,447
    2021-02-01 $366,495 (11.0%) $524,290 (17.4%) 1.07 1,251
    2021-03-01 $380,750 (12.3%) $533,148 (17.9%) 1.08 1,206
    2021-04-01 $390,145 (15.4%) $556,118 (24.3%) 1.06 1,167
    2021-05-01 $399,900 (17.6%) $563,051 (24.3%) 1.06 1,118
    2021-06-01 $410,450 (18.0%) $564,754 (21.1%) 1.08 1,238
    2021-07-01 $419,900 (20.2%) $555,173 (15.9%) 1.11 1,326
    2021-08-01 $424,950 (19.7%) $560,936 (13.1%) 1.13 1,286
    2021-09-01 $424,248 (19.2%) $557,719 (10.9%) 1.13 1,313
    2021-10-01 $438,500 (22.8%) $568,664 (10.7%) 1.17 1,331
    2021-11-01 $440,675 (23.3%) $569,292 (10.4%) 1.18 1,249
    2021-12-01 $446,950 (24.7%) $571,648 (11.3%) 1.21 1,092
    2022-01-01 $458,000 (27.3%) $594,297 (15.4%) 1.24 941
    2022-02-01 $488,198 (33.2%) $613,920 (17.1%) 1.27 951
    2022-03-01 $489,450 (28.6%) $606,265 (13.7%) 1.23 1,042
    2022-04-01 $499,999 (28.2%) $643,442 (15.7%) 1.19 1,070
    2022-05-01 $499,947 (25.0%) $655,634 (16.4%) 1.14 1,193
    2022-06-01 $499,968 (21.8%) $638,111 (13.0%) 1.11 1,324
    2022-07-01 $509,000 (21.2%) $662,323 (19.3%) 1.15 1,464
    2022-08-01 $499,945 (17.7%) $661,206 (17.9%) 1.15 1,498
    2022-09-01 $499,950 (17.8%) $661,514 (18.6%) 1.17 1,553
    2022-10-01 $505,000 (15.2%) $654,045 (15.0%) 1.19 1,647
    2022-11-01 $499,990 (13.5%) $649,427 (14.1%) 1.20 1,644
    2022-12-01 $494,990 (10.8%) $632,703 (10.7%) 1.22 1,530
    2023-01-01 $497,400 (8.6%) $639,294 (7.6%) 1.23 1,393
    2023-02-01 $505,995 (3.7%) $653,434 (6.4%) 1.22 1,363
    2023-03-01 $502,757 (2.7%) $653,568 (7.8%) 1.18 1,390
    2023-04-01 $529,080 (5.8%) $676,019 (5.1%) 1.23 1,393
    Salisbury's median listing price for 2023-04-01 was $529,080, a difference of $29,081 (5.8%) versus the prior year and $26,323 versus the prior month.

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

    Salisbury's average listing price for 2023-04-01 was $676,019, a difference of $32,577 (5.1%) versus the prior year and $22,451 versus the prior month.

    For the 2023-04-01 period, Salisbury had 1,393 MLS listings, a difference of 3 listings (0%) versus the prior month and 323 listings (30%) 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
    2018-01-01 135 days 1,798 sqft
    2018-02-01 131 days 1,800 sqft
    2018-03-01 119 days 1,798 sqft
    2018-04-01 97 days 1,800 sqft
    2018-05-01 95 days 1,822 sqft
    2018-06-01 99 days 1,820 sqft
    2018-07-01 105 days 1,851 sqft
    2018-08-01 109 days 1,851 sqft
    2018-09-01 110 days 1,840 sqft
    2018-10-01 108 days 1,840 sqft
    2018-11-01 108 days 1,831 sqft
    2018-12-01 120 days 1,817 sqft
    2019-01-01 129 days 1,800 sqft
    2019-02-01 130 days 1,792 sqft
    2019-03-01 121 days 1,800 sqft
    2019-04-01 89 days 1,849 sqft
    2019-05-01 91 days 1,865 sqft
    2019-06-01 95 days 1,860 sqft
    2019-07-01 100 days 1,870 sqft
    2019-08-01 109 days 1,900 sqft
    2019-09-01 115 days 1,904 sqft
    2019-10-01 104 days 1,880 sqft
    2019-11-01 102 days 1,866 sqft
    2019-12-01 115 days 1,856 sqft
    2020-01-01 121 days 1,854 sqft
    2020-02-01 114 days 1,861 sqft
    2020-03-01 98 days 1,870 sqft
    2020-04-01 92 days 1,873 sqft
    2020-05-01 105 days 1,892 sqft
    2020-06-01 113 days 1,926 sqft
    2020-07-01 112 days 1,952 sqft
    2020-08-01 80 days 1,949 sqft
    2020-09-01 68 days 1,913 sqft
    2020-10-01 68 days 1,900 sqft
    2020-11-01 72 days 1,879 sqft
    2020-12-01 81 days 1,853 sqft
    2021-01-01 95 days 1,845 sqft
    2021-02-01 91 days 1,848 sqft
    2021-03-01 76 days 1,861 sqft
    2021-04-01 64 days 1,857 sqft
    2021-05-01 57 days 1,897 sqft
    2021-06-01 47 days 1,915 sqft
    2021-07-01 45 days 1,917 sqft
    2021-08-01 52 days 1,888 sqft
    2021-09-01 54 days 1,865 sqft
    2021-10-01 54 days 1,883 sqft
    2021-11-01 54 days 1,873 sqft
    2021-12-01 68 days 1,877 sqft
    2022-01-01 86 days 1,894 sqft
    2022-02-01 73 days 1,958 sqft
    2022-03-01 45 days 1,960 sqft
    2022-04-01 47 days 1,971 sqft
    2022-05-01 49 days 2,000 sqft
    2022-06-01 45 days 2,007 sqft
    2022-07-01 51 days 2,016 sqft
    2022-08-01 57 days 2,024 sqft
    2022-09-01 60 days 2,038 sqft
    2022-10-01 63 days 2,049 sqft
    2022-11-01 64 days 2,012 sqft
    2022-12-01 81 days 2,000 sqft
    2023-01-01 99 days 1,993 sqft
    2023-02-01 101 days 2,017 sqft
    2023-03-01 66 days 2,006 sqft
    2023-04-01 65 days 2,023 sqft
    Salisbury's median listing age (time on market) for 2023-04-01 was 65 days. This is 38% longer than the same period one year ago.

    Salisbury's median square footage for active listings during the 2023-04-01 period was 2,023 sqft. One year prior, the average listing was 1,971 sqft.