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 6.28% for the week of 2024-02-16, compared to the national average (all USDA variants) of 6.685% for the same period.

Delaware's average USDA mortgage closing costs are $7,034.

The average rate for the prior week (2024-02-09) was 6.32% and one month ago for the week of 2024-01-12, the average rate was 5.94%.

The average rate one year ago was 5.57%.

For refis of the same type during the week of 2024-02-16, the average rate was 5%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

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.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Meridian Bank Corporation 36 4.64% $9,419
TIDEWATER MORTGAGE SERVICES, INC. 16 4.51% $10,288
First Home Bank 12 3.97% $8,788
NVR Mortgage Finance, Inc. 12 3.23% $10,541
NFM, INC. 12 4.93% $8,981
Northpointe Bank 9 3.88% $8,318
Huntingdon Valley Bank 9 4.78% $10,402
HOMESIDE FINANCIAL, LLC 8 4.76% $7,967
EMBRACE HOME LOANS, INC. 8 4.17% $7,044
PIKE CREEK MORTGAGE SERVICES, INC. 8 4.30% $8,185
UNITED WHOLESALE MORTGAGE, LLC 7 5.11% $7,850
GUARANTEED RATE, INC. 4 3.88% $7,870
PENNYMAC LOAN SERVICES, LLC 4 3.12% $5,616
CARDINAL FINANCIAL 4 4.25% $11,169
CMG MORTGAGE, INC. 4 4.13% $7,327
GUILD MORTGAGE COMPANY 4 4.53% $9,412
Prosperity Home Mortgage, LLC 4 4.75% $8,747
HOME POINT FINANCIAL CORPORATION 3 3.63% $7,705
ABSOLUTE HOME MORTGAGE CORPORATION 3 4.71% $9,477
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 5.50% $8,060
CROSSCOUNTRY MORTGAGE, LLC 3 4.79% $6,604
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 4.33% $7,936
ON Q FINANCIAL, INC. 3 4.96% $7,535
Nations Lending Corporation 2 4.50% $8,343
MCLEAN MORTGAGE CORPORATION 2 4.06% $5,500
CALIBER HOME LOANS, INC. 2 5.06% $7,682
Dover Federal Credit Union 2 4.94% $7,876
FIRST HOME MORTGAGE CORPORATION 2 4.25% $8,439
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.56% $9,739
ENVOY MORTGAGE, LTD 1 4.00% $7,756
DHI MORTGAGE COMPANY, LTD. 1 4.50% $8,516
ACADEMY MORTGAGE CORPORATION 1 6.63% $9,559
Capital Bank 1 3.75% $10,182
Plains Commerce Bank 1 4.88% $9,234
Presidential Bank, FSB 1 5.25% $9,579
Bank of England 1 5.63% $8,188
SUMMIT FUNDING, INC. 1 4.00% $11,615
TD Bank 1 4.38% $7,718
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 3.13% $7,696
Towne Bank 1 4.00% $15,397
ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 1 3.00% $8,916
GUARANTEED RATE AFFINITY, LLC 1 5.75% $6,327
George Mason Mortgage, LLC 1 2.99% $11,303
Fulton Bank 1 3.00% $4,987
Ixonia Bank 1 7.00% $8,137
Mortgage Network, Inc. 1 4.50% $7,595
MOVEMENT MORTGAGE, LLC 1 5.25% $6,570

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%).