Maine USDA Loan Rates, Closing Costs & Stats

Maine

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Maine USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Maine averaged 0.24% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    Maine's average USDA mortgage closing costs are $4,978.

    The average rate for the prior week (2024-11-08) was 6.3% and one month ago for the week of 2024-10-11, the average rate was 5.96%.

    The average rate one year ago was 7.19%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.58%.

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

    Maine 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 Maine level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Bangor Savings Bank 60 5.55% $5,568
    Machias Savings Bank 54 5.52% $4,265
    GUILD MORTGAGE COMPANY 32 5.60% $6,155
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 27 5.67% $6,349
    The Camden National Bank 19 5.64% $4,988
    DAS Acquisition Company, LLC 17 5.68% $6,757
    CUSO MORTGAGE CORPORATION 15 5.60% $5,386
    LEADERONE FINANCIAL CORPORATION 7 6.57% $7,133
    First National Bank 6 5.76% $5,350
    NORTHPOINT MORTGAGE, INC. 6 5.32% $7,320
    TOTAL MORTGAGE SERVICES, LLC 6 5.58% $6,986
    University Credit Union 5 5.39% $5,147
    NEWREZ LLC 5 6.40% $6,632
    CMG MORTGAGE, INC. 5 6.80% $7,932
    EMBRACE HOME LOANS, INC. 4 5.81% $5,956
    NORWICH COMMERCIAL GROUP, INC. 3 5.55% $7,877
    MEGASTAR FINANCIAL CORP. 3 5.48% $8,338
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.38% $7,930
    Bar Harbor Bank & Trust 2 4.75% $6,403
    BROKER SOLUTIONS, INC. 2 6.38% $9,221
    Century Mortgage Company DBA Century Lending Company 2 6.25% $5,267
    Citizens Bank 2 6.38% $7,664
    Equity Prime Mortgage LLC 2 7.06% $11,109
    Norway Savings Bank 2 5.73% $5,027
    MOVEMENT MORTGAGE, LLC 1 6.75% $6,503
    LOANDEPOT.COM, LLC 1 7.25% $7,881
    NORTHERN MORTGAGE SERVICES, LLC 1 6.49% $7,213
    ACADEMY MORTGAGE CORPORATION 1 7.25% $8,734
    American Mortgage & Equity Consultants, Inc. 1 6.75% $12,706
    ENVOY MORTGAGE, LTD 1 7.50% $13,763
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $6,816
    SIS BANCORP, MHC 1 5.50% $5,859
    CROSSCOUNTRY MORTGAGE, LLC 1 5.50% $5,906
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.50% $6,346
    UNITED WHOLESALE MORTGAGE, LLC 1 6.12% $9,318
    Mortgage Research Center, LLC 1 5.50% $9,490

    The top Maine USDA lender as defined by loan originations is Bangor Savings Bank, with 60 USDA loans originated. Their average total fees are $5,568, which is $1,304 higher than the next largest lender, Machias Savings Bank.

    The lowest fee Maine USDA lenders (with over 10 loans originated) are Machias Savings Bank ($4,265), The Camden National Bank ($4,988), CUSO MORTGAGE CORPORATION ($5,386), Bangor Savings Bank ($5,568) and GUILD MORTGAGE COMPANY ($6,155).

    The lowest rate Maine USDA lenders (with over 10 loans originated) are Machias Savings Bank (5.52%), Bangor Savings Bank (5.55%), GUILD MORTGAGE COMPANY (5.60%), CUSO MORTGAGE CORPORATION (5.60%) and The Camden National Bank (5.64%).