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 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.