Delaware USDA Loan Rates, Closing Costs & Stats
Delaware
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.
Delaware USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Delaware
averaged
6.42%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
Delaware's average USDA mortgage closing costs are $7,034.
The average rate for the prior week (2023-05-19) was
5.97% and
one month ago for the week of 2023-04-21, the
average rate was 5.77%.
The average rate one year ago was 5.09%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.15%.
Delaware 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 Delaware level.
The top Delaware USDA lender as defined by loan originations is Meridian Bank Corporation, with
36 USDA loans originated. Their average total fees are
$9,419, which is $869
lower than the next largest lender,
TIDEWATER MORTGAGE SERVICES, INC..
The lowest fee Delaware USDA lenders (with over 10 loans originated) are
First Home Bank ($8,788), NFM, INC. ($8,981), Meridian Bank Corporation ($9,419), TIDEWATER MORTGAGE SERVICES, INC. ($10,288) and NVR Mortgage Finance, Inc. ($10,541).
The lowest rate Delaware USDA lenders (with over 10 loans originated) are
NVR Mortgage Finance, Inc. (3.23%), First Home Bank (3.97%), TIDEWATER MORTGAGE SERVICES, INC. (4.51%), Meridian Bank Corporation (4.64%) and NFM, INC. (4.93%).