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 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 6.63% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.48% and one month ago for the week of 2024-03-15, the average rate was 6.57%.

    The average rate one year ago was 6.31%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.02%.

    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.