Maryland USDA Loan Rates, Closing Costs & Stats

Maryland

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.

Maryland USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Maryland averaged 6.06% for the week of 2024-02-16, compared to the national average (all USDA variants) of 6.685% for the same period.

Maryland's average USDA mortgage closing costs are $6,636.

The average rate for the prior week (2024-02-09) was 5.89% and one month ago for the week of 2024-01-12, the average rate was 5.81%.

The average rate one year ago was 5.65%.

For refis of the same type during the week of 2024-02-16, the average rate was 4.93%.

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

Maryland 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 Maryland level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
FIRST HOME MORTGAGE CORPORATION 153 4.34% $8,620
NVR Mortgage Finance, Inc. 50 3.69% $10,274
HOME POINT FINANCIAL CORPORATION 40 4.59% $7,727
Towne Bank 37 4.03% $7,550
BAY CAPITAL MORTGAGE CORPORATION 36 4.44% $7,478
Alcova Mortgage LLC 36 5.07% $2,410
CALIBER HOME LOANS, INC. 32 4.45% $8,684
GUILD MORTGAGE COMPANY 28 4.56% $9,207
INTERLINC MORTGAGE SERVICES, LLC 27 4.73% $5,792
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 25 4.58% $9,086
CROSSCOUNTRY MORTGAGE, LLC 24 4.73% $9,745
MOVEMENT MORTGAGE, LLC 23 4.53% $8,104
Waterstone Mortgage Corporation 21 4.51% $8,969
GUARANTY HOME MORTGAGE CORPORATION 21 4.39% $5,514
PRIMELENDING, A PLAINSCAPITAL COMPANY 20 4.82% $8,375
C & F Mortgage Corporation 19 5.09% $6,388
SOUTHERN TRUST MORTGAGE, LLC 19 4.32% $8,069
UNITED WHOLESALE MORTGAGE, LLC 19 4.77% $8,005
Prosperity Home Mortgage, LLC 17 4.29% $6,953
HOMESPIRE MORTGAGE CORPORATION 16 4.69% $7,182
Vellum Mortgage, Inc. 14 4.89% $8,803
ACADEMY MORTGAGE CORPORATION 14 4.91% $7,243
Meridian Bank Corporation 14 4.66% $8,877
Nations Lending Corporation 12 5.05% $5,769
DIRECT MORTGAGE LOANS, LLC 12 4.92% $9,118
PENNYMAC LOAN SERVICES, LLC 11 3.12% $6,891
NORWICH COMMERCIAL GROUP, INC. 11 4.78% $12,786
Sierra Pacific Mortgage Company, Inc. 11 4.57% $9,769
MCLEAN MORTGAGE CORPORATION 10 4.63% $6,808
Paramount Residential Mortgage Group, Inc. 10 4.58% $10,748
Mortgage Network, Inc. 10 4.34% $7,814
PRIMARY RESIDENTIAL MORTGAGE, INC. 8 4.55% $10,825
TIDEWATER MORTGAGE SERVICES, INC. 8 4.83% $8,046
HOMESIDE FINANCIAL, LLC 8 4.69% $8,395
Integrity Home Mortgage Corp 7 4.16% $6,928
NFM, INC. 7 4.80% $8,501
GUARANTEED RATE, INC. 7 4.37% $7,736
DHI MORTGAGE COMPANY, LTD. 7 3.84% $6,415
EMM LOANS LLC 7 4.30% $8,370
Plains Commerce Bank 6 4.08% $12,366
George Mason Mortgage, LLC 6 5.02% $7,847
CARDINAL FINANCIAL 6 4.52% $8,788
GUARANTEED RATE AFFINITY, LLC 5 4.63% $7,326
Shore United Bank 5 4.18% $9,238
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 4.23% $10,375
EMBRACE HOME LOANS, INC. 5 5.10% $8,877
Presidential Bank, FSB 5 4.13% $9,178
PLAZA HOME MORTGAGE, INC. 5 3.85% $9,395
MILLENNIUM FINANCIAL GROUP, INC. 5 5.20% $7,807
CORNERSTONE HOME LENDING, INC. 4 4.31% $11,750
TJC Mortgage, Inc. 4 4.66% $11,257
CMG MORTGAGE, INC. 4 5.22% $7,246
Truist 4 4.47% $7,673
EQUITY RESOURCES, INC. 4 4.72% $8,087
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 4.28% $8,348
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 3.34% $6,647
Atlantic Coast Mortgage, LLC 4 4.06% $6,910
SWBC MORTGAGE CORPORATION 3 5.04% $9,066
1ST PREFERENCE MORTGAGE CORP. 3 3.46% $9,005
Wells Fargo Bank 3 4.63% $4,334
THE MORTGAGE LINK, INC. 3 4.71% $7,948
MY MORTGAGE, INC. 3 4.54% $9,783
First Heritage Mortgage, LLC 3 4.54% $9,155
Flagstar Bank, FSB 3 3.45% $7,976
Sandy Spring Bank 2 4.63% $7,499
Ameris Bank 2 5.13% $11,665
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 5.94% $12,328
BROKER SOLUTIONS, INC. 2 4.94% $10,369
Carrington Mortgage Services, LLC 2 2.94% $9,216
Cedar Point Federal Credit Union 2 4.50% $9,140
Citizens Bank 2 4.50% $6,254
Clear Mountain Bank 2 5.00% $5,086
DEVELOPER'S MORTGAGE COMPANY 2 4.13% $2,459
FIDELITY DIRECT MORTGAGE, LLC 2 3.75% $7,884
Fulton Bank 2 3.94% $5,380
Northpointe Bank 2 4.81% $8,418
PIKE CREEK MORTGAGE SERVICES, INC. 2 4.69% $9,496
PLANET HOME LENDING, LLC 2 6.13% $8,127
PNC Bank 2 4.81% $7,025
1ST FINANCIAL, INC. 2 5.44% $14,415
SECURITYNATIONAL MORTGAGE COMPANY 2 4.63% $10,203
STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 2 5.13% $4,490
T2 FINANCIAL LLC 2 4.00% $5,367
UNION HOME MORTGAGE CORP. 2 3.81% $7,638
UNIVERSAL MORTGAGE & FINANCE, INC. 2 5.06% $14,790
MID AMERICA MORTGAGE, INC. 1 6.75% $7,706
Watermark Capital, Inc. 1 4.63% $11,773
Acre Mortgage and Financial Inc 1 4.63% $6,100
MICHIGAN MUTUAL, INC. 1 3.00% $8,417
Florida Capital Bank 1 4.75% $12,337
First Option Mortgage, LLC 1 5.63% $17,324
ABSOLUTE HOME MORTGAGE CORPORATION 1 5.63% $8,997
SUCCESS MORTGAGE PARTNERS, INC. 1 5.63% $14,786
First Guaranty Mortgage Corporation 1 4.38% $12,695
WesBanco 1 4.63% $7,034
TD Bank 1 5.00% $5,738
The Federal Savings Bank 1 6.25% $7,670
ENVOY MORTGAGE, LTD 1 7.00% $11,935
THRIVE MORTGAGE, LLC 1 4.50% $6,945
CBM Mortgage, Inc. 1 4.13% $5,833
Bank of England 1 4.75% $12,936
Atlantic Union Bank 1 7.50% $6,657
TOWNE MORTGAGE COMPANY 1 3.63% $6,382
APEX HOME LOANS, INC. 1 3.38% $9,377
West Town Bank & Trust 1 5.75% $7,866
AMERISAVE MORTGAGE CORPORATION 1 3.75% $5,850
PATRIOT 1 2.88% $5,350
Wilmington Savings Fund Society, FSB 1 5.38% $10,176
PANORAMA MORTGAGE GROUP, LLC 1 4.63% $9,783
VAN DYK MORTGAGE CORPORATION 1 5.75% $6,899
NEWREZ LLC 1 5.75% $11,316
AMERICAN FINANCIAL RESOURCES, INC. 1 4.13% $7,145
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.75% $5,879
Mortgage Research Center, LLC 1 3.75% $3,843
MORIA DEVELOPMENT, INC. 1 4.63% $14,161

The top Maryland USDA lender as defined by loan originations is FIRST HOME MORTGAGE CORPORATION, with 153 USDA loans originated. Their average total fees are $8,620, which is $1,654 lower than the next largest lender, NVR Mortgage Finance, Inc..

The lowest fee Maryland USDA lenders (with over 10 loans originated) are Alcova Mortgage LLC ($2,410), GUARANTY HOME MORTGAGE CORPORATION ($5,514), Nations Lending Corporation ($5,769), INTERLINC MORTGAGE SERVICES, LLC ($5,792) and C & F Mortgage Corporation ($6,388).

The lowest rate Maryland USDA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.12%), NVR Mortgage Finance, Inc. (3.69%), Towne Bank (4.03%), Prosperity Home Mortgage, LLC (4.29%) and SOUTHERN TRUST MORTGAGE, LLC (4.32%).