Massachusetts USDA Loan Rates, Closing Costs & Stats

Massachusetts

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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.

    Massachusetts USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Massachusetts averaged 6.12% for the week of 2023-12-01, compared to the national average (all USDA variants) of 6.997% for the same period.

    Massachusetts's average USDA mortgage closing costs are $6,523.

    The average rate for the prior week (2023-11-24) was 6.23% and one month ago for the week of 2023-10-27, the average rate was 6.98%.

    The average rate one year ago was 6%.

    For refis of the same type during the week of 2023-12-01, the average rate was 5.47%.

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

    Massachusetts 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 Massachusetts level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 10 4.43% $8,024
    ACADEMY MORTGAGE CORPORATION 10 4.83% $8,873
    UNITED WHOLESALE MORTGAGE, LLC 8 4.39% $6,925
    MOVEMENT MORTGAGE, LLC 6 3.92% $11,484
    CALIBER HOME LOANS, INC. 3 3.43% $7,144
    TOTAL MORTGAGE SERVICES, LLC 3 5.04% $10,131
    GUARANTEED RATE, INC. 3 5.47% $10,034
    RADIUS FINANCIAL GROUP INC. 3 3.71% $9,128
    EMM LOANS LLC 3 3.63% $12,561
    EQUITY RESOURCES, INC. 3 3.04% $11,322
    Evolve Bank & Trust 3 5.08% $7,114
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 4.32% $8,729
    Adams Community Bank 2 3.63% $3,821
    CMG MORTGAGE, INC. 2 5.44% $10,872
    FIRST HOME MORTGAGE CORPORATION 2 4.06% $7,106
    FREEDOM MORTGAGE CORPORATION 2 3.88% $6,072
    NORWICH COMMERCIAL GROUP, INC. 2 5.19% $13,049
    PROVINCE MORTGAGE ASSOCIATES, INC. 2 4.69% $7,654
    Shamrock Home Loans, Inc. 2 3.88% $5,764
    LAKEVIEW LOAN SERVICING, LLC 1 3.63% $3,070
    FINANCE OF AMERICA MORTGAGE LLC 1 4.25% $11,162
    Nations Lending Corporation 1 5.75% $3,517
    Sierra Pacific Mortgage Company, Inc. 1 3.00% $5,842
    PENNYMAC LOAN SERVICES, LLC 1 3.00% $7,429
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.38% $7,524
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $7,316
    CONWAY FINANCIAL SERVICES, LLC 1 5.25% $7,722
    Eastern Bank 1 3.75% $8,181
    Ross Mortgage Company, Inc. 1 5.63% $7,753
    CHURCHILL MORTGAGE CORPORATION 1 4.13% $5,641
    GENEVA FINANCIAL, LLC 1 6.50% $11,933
    BAY EQUITY LLC 1 3.50% $6,334
    HOME POINT FINANCIAL CORPORATION 1 3.49% $7,183

    The top Massachusetts USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 10 USDA loans originated. Their average total fees are $8,024, which is $849 lower than the next largest lender, ACADEMY MORTGAGE CORPORATION.

    The lowest fee Massachusetts USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($8,024), ACADEMY MORTGAGE CORPORATION ($8,873), .

    The lowest rate Massachusetts USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (4.43%), ACADEMY MORTGAGE CORPORATION (4.83%), .