Maryland USDA Loan Rates, Closing Costs & Stats

Maryland

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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.

    Maryland USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Maryland averaged -0.18% for the week of 2024-11-15, 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 (2024-11-08) was 6.28% and one month ago for the week of 2024-10-11, the average rate was 6.04%.

    The average rate one year ago was 7.17%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.41%.

    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%).