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 6.3% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

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

    The average rate for the prior week (2023-05-19) was 5.94% and one month ago for the week of 2023-04-21, the average rate was 5.85%.

    The average rate one year ago was 5.07%.

    For refis of the same type during the week of 2023-05-26, the average rate was 4.88%.

    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 Bank, Inc. 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%).