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 0.02% for the week of 2024-06-21, compared to the national average (all USDA variants) of 0% for the same period.

Maryland's average USDA mortgage closing costs are $6,734.

The average rate for the prior week (2024-06-14) was 6.71% and one month ago for the week of 2024-05-17, the average rate was 6.44%.

The average rate one year ago was 6.42%.

For refis of the same type during the week of 2024-06-21, the average rate was 0.21%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FIRST HOME MORTGAGE CORPORATION 64 6.18% $10,065
Towne Bank 31 6.29% $8,676
BAY CAPITAL MORTGAGE CORPORATION 24 6.22% $9,392
Alcova Mortgage LLC 15 7.25% $1,577
NVR Mortgage Finance, Inc. 14 5.89% $8,683
MOVEMENT MORTGAGE, LLC 13 6.08% $8,088
CROSSCOUNTRY MORTGAGE, LLC 11 6.24% $10,575
INTERLINC MORTGAGE SERVICES, LLC 11 6.00% $6,100
GUILD MORTGAGE COMPANY 11 6.57% $8,780
UNITED WHOLESALE MORTGAGE, LLC 10 6.04% $9,719
Meridian Bank Corporation 8 6.30% $8,349
MILLENNIUM FINANCIAL GROUP, INC. 8 6.70% $6,873
EMM LOANS LLC 7 6.23% $9,252
Paramount Residential Mortgage Group, Inc. 7 6.54% $13,573
C & F Mortgage Corporation 6 6.54% $6,727
NFM, INC. 6 6.31% $9,088
FIDELITY DIRECT MORTGAGE, LLC 6 6.33% $8,735
Waterstone Mortgage Corporation 6 6.35% $11,239
Vellum Mortgage, Inc. 6 6.77% $9,324
Atlantic Coast Mortgage, LLC 5 6.50% $9,256
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.38% $11,163
Shore United Bank 5 5.85% $10,213
Keystone Funding, Inc. 5 7.00% $11,100
Nations Lending Corporation 5 6.05% $5,294
GUARANTEED RATE AFFINITY, LLC 4 6.29% $9,131
George Mason Mortgage, LLC 4 5.90% $9,394
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 4 6.44% $12,056
CMG MORTGAGE, INC. 4 6.84% $7,536
SOUTHERN TRUST MORTGAGE, LLC 4 6.59% $5,267
Flagstar Bank, FSB 4 6.43% $12,371
CALIBER HOME LOANS, INC. 4 6.00% $10,501
TIDEWATER MORTGAGE SERVICES, INC. 3 6.75% $15,556
PLANET HOME LENDING, LLC 3 5.88% $11,469
NORWICH COMMERCIAL GROUP, INC. 3 5.92% $14,544
Prosperity Home Mortgage, LLC 3 7.04% $10,636
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.42% $11,622
Sierra Pacific Mortgage Company, Inc. 3 6.17% $10,918
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.29% $8,010
AMERICAN FINANCIAL NETWORK, INC. 3 6.54% $12,617
PLAZA HOME MORTGAGE, INC. 3 6.33% $8,306
Integrity Home Mortgage Corp 2 7.19% $10,033
Plains Commerce Bank 2 6.00% $15,507
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.31% $10,785
Citizens Bank 2 6.50% $5,616
Presidential Bank, FSB 2 6.00% $9,474
Northpointe Bank 2 6.25% $10,780
TJC Mortgage, Inc. 2 6.75% $8,394
Truist 2 5.75% $7,030
UNIVERSAL MORTGAGE & FINANCE, INC. 2 6.31% $12,438
ENVOY MORTGAGE, LTD 2 6.88% $11,502
EMBRACE HOME LOANS, INC. 2 5.94% $10,098
ACADEMY MORTGAGE CORPORATION 2 6.00% $11,696
DRAPER AND KRAMER MORTGAGE CORP. 2 6.19% $13,674
FIRST COLONY MORTGAGE CORPORATION 2 7.31% $6,391
First Heritage Mortgage, LLC 2 6.31% $9,331
DIRECT MORTGAGE LOANS, LLC 2 6.38% $11,754
First Savings Bank 2 6.50% $8,595
Cedar Point Federal Credit Union 2 7.25% $7,447
GUARANTY HOME MORTGAGE CORPORATION 2 6.19% $3,782
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.88% $6,389
HOMESIDE FINANCIAL, LLC 2 5.69% $6,662
HOMESPIRE MORTGAGE CORPORATION 2 7.13% $3,474
RADIUS FINANCIAL GROUP INC. 2 6.94% $7,718
Wells Fargo Bank 1 5.38% $2,835
ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 1 5.50% $10,698
American Mortgage & Equity Consultants, Inc. 1 5.49% $12,418
Ameris Bank 1 6.75% $10,758
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.38% $14,563
Bank of England 1 6.25% $8,074
CARDINAL FINANCIAL 1 5.99% $19,701
CHURCHILL MORTGAGE CORPORATION 1 7.13% $6,301
Clear Mountain Bank 1 6.38% $6,169
DHI MORTGAGE COMPANY, LTD. 1 5.50% $6,895
Equity Prime Mortgage LLC 1 7.25% $13,022
EVERETT FINANCIAL, INC. 1 5.88% $7,291
First National Bank of Pennsylvania 1 6.25% $5,661
FREEDOM MORTGAGE CORPORATION 1 6.88% $3,930
Fulton Bank 1 5.63% $7,196
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.13% $9,563
Hometown Equity Mortgage, LLC 1 6.50% $13,170
LEADERONE FINANCIAL CORPORATION 1 6.25% $13,954
LOANDEPOT.COM, LLC 1 6.75% $6,858
MORIA DEVELOPMENT, INC. 1 7.13% $12,079
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.88% $11,104
NEWREZ LLC 1 5.25% $15,511
PNC Bank 1 6.25% $9,236
SOMERSET TRUST COMPANY 1 6.50% $4,610
SWBC MORTGAGE CORPORATION 1 6.25% $4,508
T2 FINANCIAL LLC 1 6.75% $4,356
The Federal Savings Bank 1 6.88% $14,210
THRIVE MORTGAGE, LLC 1 6.88% $11,190
UNION HOME MORTGAGE CORP. 1 6.50% $8,352
1ST FINANCIAL, INC. 1 6.50% $6,711

The top Maryland USDA lender as defined by loan originations is FIRST HOME MORTGAGE CORPORATION, with 64 USDA loans originated. Their average total fees are $10,065, which is $1,390 higher than the next largest lender, Towne Bank.

The lowest fee Maryland USDA lenders (with over 10 loans originated) are Alcova Mortgage LLC ($1,577), INTERLINC MORTGAGE SERVICES, LLC ($6,100), MOVEMENT MORTGAGE, LLC ($8,088), Towne Bank ($8,676) and NVR Mortgage Finance, Inc. ($8,683).

The lowest rate Maryland USDA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. (5.89%), INTERLINC MORTGAGE SERVICES, LLC (6.00%), UNITED WHOLESALE MORTGAGE, LLC (6.04%), MOVEMENT MORTGAGE, LLC (6.08%) and FIRST HOME MORTGAGE CORPORATION (6.18%).