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 6.41% for the week of 2023-12-08, compared to the national average (all USDA variants) of 6.821% for the same period.

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

The average rate for the prior week (2023-12-01) was 6.45% and one month ago for the week of 2023-11-03, the average rate was 6.9%.

The average rate one year ago was 5.8%.

For refis of the same type during the week of 2023-12-08, the average rate was 5.1%.

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 .