Bakersfield USDA Loan Rates, Closing Costs & Stats

BAKERSFIELD, CA

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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.

    Bakersfield's 26 lenders originated 65 USDA loans during 2022. The total origination value was $17,745,000, with an average USDA loan value of $273,000.

    Bakersfield USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Bakersfield averaged -0.36% for the week of 2023-06-02, compared to the national average (all USDA variants) of 0% for the same period.

    Bakersfield's average USDA mortgage closing costs are $6,825.

    The average rate for the prior week (2023-05-26) was 6.39% and one month ago for the week of 2023-04-28, the average rate was 5.86%.

    The average rate one year ago was 4.63%.

    For refis of the same type during the week of 2023-06-02, the average rate was -1.61%.

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

    Bakersfield 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 Bakersfield level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    HOME POINT FINANCIAL CORPORATION 13 3.70% $7,332
    PRIMARY RESIDENTIAL MORTGAGE, INC. 7 4.05% $8,220
    Sierra Pacific Mortgage Company, Inc. 5 4.25% $9,930
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 5.15% $9,317
    Century Mortgage Company DBA Century Lending Company 4 5.91% $7,905
    UNITED WHOLESALE MORTGAGE, LLC 3 3.98% $14,706
    MICHIGAN MUTUAL, INC. 2 5.13% $12,360
    Nations Lending Corporation 2 5.75% $8,614
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 2 4.69% $7,934
    AMCAP MORTGAGE, LTD. 2 5.13% $15,639
    MOUNTAIN WEST FINANCIAL, INC. 1 5.38% $8,226
    OCMBC, INC. 1 5.13% $6,581
    Paramount Residential Mortgage Group, Inc. 1 5.50% $7,671
    SECURITYNATIONAL MORTGAGE COMPANY 1 3.50% $9,497
    SUMMIT FUNDING, INC. 1 3.25% $13,941
    ALAMEDA MORTGAGE CORPORATION 1 2.88% $6,285
    Wells Fargo Bank 1 5.50% $8,127
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 4.38% $7,703
    AXIA FINANCIAL, LLC 1 5.13% $15,261
    Equity Prime Mortgage LLC 1 3.38% $8,997
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 4.25% $11,082
    FINANCE OF AMERICA MORTGAGE LLC 1 4.75% $9,248
    GUILD MORTGAGE COMPANY 1 4.88% $10,980
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.88% $9,066
    Hometown Equity Mortgage, LLC 1 2.88% $12,873
    LOANDEPOT.COM, LLC 1 5.25% $10,912

    The top Bakersfield USDA lender as defined by loan originations is HOME POINT FINANCIAL CORPORATION, with 13 USDA loans originated. Their average total fees are $7,332, which is $888 lower than the next largest lender, PRIMARY RESIDENTIAL MORTGAGE, INC..

    The lowest fee Bakersfield USDA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION ($7,332), .

    The lowest rate Bakersfield USDA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (3.70%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bakersfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $236,097 (4.9%) $279,801 (2.8%) 0.88 2,062
    2018-02-01 $239,950 (4.8%) $281,183 (1.9%) 0.87 2,098
    2018-03-01 $250,000 (5.0%) $289,967 (2.3%) 0.88 2,130
    2018-04-01 $259,450 (5.9%) $294,240 (1.4%) 0.88 2,228
    2018-05-01 $262,271 (5.1%) $298,099 (2.7%) 0.88 2,230
    2018-06-01 $263,000 (5.2%) $296,815 (2.7%) 0.88 2,344
    2018-07-01 $259,900 (4.0%) $293,881 (2.1%) 0.87 2,443
    2018-08-01 $256,500 (2.8%) $290,491 (1.7%) 0.86 2,511
    2018-09-01 $254,900 (2.4%) $290,839 (2.3%) 0.86 2,561
    2018-10-01 $250,000 (0.8%) $288,557 (1.1%) 0.85 2,495
    2018-11-01 $249,900 (2.5%) $286,834 (1.3%) 0.85 2,437
    2018-12-01 $249,000 (4.2%) $285,673 (0.8%) 0.86 2,274
    2019-01-01 $245,000 (3.8%) $282,636 (1.0%) 0.85 2,087
    2019-02-01 $245,000 (2.1%) $283,973 (1.0%) 0.83 2,072
    2019-03-01 $252,400 (1.0%) $292,326 (0.8%) 0.83 2,108
    2019-04-01 $261,308 (0.7%) $303,499 (3.2%) 0.83 2,189
    2019-05-01 $262,750 (0.2%) $304,559 (2.2%) 0.82 2,273
    2019-06-01 $264,900 (0.7%) $304,435 (2.6%) 0.83 2,354
    2019-07-01 $266,875 (2.7%) $306,795 (4.4%) 0.84 2,388
    2019-08-01 $262,818 (2.5%) $304,046 (4.7%) 0.83 2,345
    2019-09-01 $259,545 (1.8%) $303,843 (4.5%) 0.83 2,245
    2019-10-01 $258,114 (3.3%) $303,854 (5.3%) 0.83 2,171
    2019-11-01 $258,900 (3.6%) $308,653 (7.6%) 0.85 2,033
    2019-12-01 $258,500 (3.8%) $377,395 (32.1%) 0.86 1,860
    2020-01-01 $259,450 (5.9%) $305,015 (7.9%) 0.87 1,646
    2020-02-01 $259,900 (6.1%) $315,225 (11.0%) 0.85 1,582
    2020-03-01 $269,950 (7.0%) $324,523 (11.0%) 0.85 1,607
    2020-04-01 $269,450 (3.1%) $320,563 (5.6%) 0.84 1,669
    2020-05-01 $269,900 (2.7%) $324,981 (6.7%) 0.82 1,595
    2020-06-01 $271,238 (2.4%) $333,511 (9.6%) 0.80 1,413
    2020-07-01 $279,950 (4.9%) $344,330 (12.2%) 0.81 1,286
    2020-08-01 $295,000 (12.2%) $349,328 (14.9%) 0.85 1,139
    2020-09-01 $300,000 (15.6%) $362,750 (19.4%) 0.86 1,172
    2020-10-01 $299,900 (16.2%) $364,172 (19.9%) 0.86 1,163
    2020-11-01 $299,900 (15.8%) $353,262 (14.5%) 0.88 1,074
    2020-12-01 $287,000 (11.0%) $337,587 (-10.6%) 0.85 1,002
    2021-01-01 $279,000 (7.5%) $330,098 (8.2%) 0.83 891
    2021-02-01 $284,625 (9.5%) $345,256 (9.5%) 0.83 773
    2021-03-01 $294,997 (9.3%) $353,539 (8.9%) 0.84 721
    2021-04-01 $301,000 (11.7%) $354,078 (10.5%) 0.81 750
    2021-05-01 $315,000 (16.7%) $374,155 (15.1%) 0.84 741
    2021-06-01 $313,300 (15.5%) $380,310 (14.0%) 0.82 836
    2021-07-01 $320,000 (14.3%) $381,028 (10.7%) 0.84 982
    2021-08-01 $320,000 (8.5%) $379,709 (8.7%) 0.85 1,116
    2021-09-01 $318,850 (6.3%) $379,643 (4.7%) 0.85 1,127
    2021-10-01 $329,900 (10.0%) $389,873 (7.1%) 0.88 1,173
    2021-11-01 $337,000 (12.4%) $399,366 (13.1%) 0.90 1,027
    2021-12-01 $339,950 (18.5%) $407,211 (20.6%) 0.92 919
    2022-01-01 $339,500 (21.7%) $406,001 (23.0%) 0.92 799
    2022-02-01 $349,450 (22.8%) $417,944 (21.1%) 0.91 746
    2022-03-01 $359,500 (21.9%) $424,585 (20.1%) 0.90 754
    2022-04-01 $365,000 (21.3%) $434,600 (22.7%) 0.87 874
    2022-05-01 $389,600 (23.7%) $444,991 (18.9%) 0.89 1,180
    2022-06-01 $399,575 (27.5%) $440,796 (15.9%) 0.89 1,395
    2022-07-01 $390,000 (21.9%) $435,074 (14.2%) 0.88 1,619
    2022-08-01 $389,725 (21.8%) $430,270 (13.3%) 0.90 1,700
    2022-09-01 $388,087 (21.7%) $431,106 (13.6%) 0.91 1,748
    2022-10-01 $380,000 (15.2%) $426,859 (9.5%) 0.89 1,797
    2022-11-01 $375,000 (11.3%) $427,974 (7.2%) 0.90 1,760
    2022-12-01 $370,900 (9.1%) $425,582 (4.5%) 0.92 1,491
    2023-01-01 $374,950 (10.4%) $424,171 (4.5%) 0.93 1,320
    2023-02-01 $375,756 (7.5%) $424,653 (1.6%) 0.91 1,174
    2023-03-01 $380,000 (5.7%) $431,281 (1.6%) 0.90 1,011
    2023-04-01 $391,060 (7.1%) $446,458 (2.7%) 0.91 923
    2023-05-01 $390,000 (0.1%) $450,601 (1.3%) 0.88 1,024
    Bakersfield's median listing price for 2023-05-01 was $390,000, a difference of $400 (0.1%) versus the prior year and $-1,060 versus the prior month.

    Bakersfield's median listing price comes in at 88% of the national average.

    Bakersfield's average listing price for 2023-05-01 was $450,601, a difference of $5,610 (1.3%) versus the prior year and $4,143 versus the prior month.

    For the 2023-05-01 period, Bakersfield had 1,024 MLS listings, a difference of 101 listings (11%) versus the prior month and -156 listings (-13%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bakersfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 62 days 1,709 sqft
    2018-02-01 41 days 1,714 sqft
    2018-03-01 40 days 1,744 sqft
    2018-04-01 43 days 1,759 sqft
    2018-05-01 43 days 1,778 sqft
    2018-06-01 44 days 1,773 sqft
    2018-07-01 45 days 1,769 sqft
    2018-08-01 46 days 1,740 sqft
    2018-09-01 46 days 1,736 sqft
    2018-10-01 53 days 1,703 sqft
    2018-11-01 56 days 1,691 sqft
    2018-12-01 64 days 1,680 sqft
    2019-01-01 66 days 1,666 sqft
    2019-02-01 51 days 1,667 sqft
    2019-03-01 45 days 1,707 sqft
    2019-04-01 43 days 1,746 sqft
    2019-05-01 40 days 1,748 sqft
    2019-06-01 44 days 1,736 sqft
    2019-07-01 44 days 1,746 sqft
    2019-08-01 46 days 1,724 sqft
    2019-09-01 48 days 1,701 sqft
    2019-10-01 51 days 1,688 sqft
    2019-11-01 53 days 1,684 sqft
    2019-12-01 58 days 1,676 sqft
    2020-01-01 61 days 1,676 sqft
    2020-02-01 42 days 1,684 sqft
    2020-03-01 39 days 1,715 sqft
    2020-04-01 46 days 1,701 sqft
    2020-05-01 54 days 1,696 sqft
    2020-06-01 47 days 1,704 sqft
    2020-07-01 36 days 1,712 sqft
    2020-08-01 33 days 1,762 sqft
    2020-09-01 31 days 1,789 sqft
    2020-10-01 34 days 1,759 sqft
    2020-11-01 36 days 1,709 sqft
    2020-12-01 39 days 1,628 sqft
    2021-01-01 40 days 1,604 sqft
    2021-02-01 32 days 1,601 sqft
    2021-03-01 23 days 1,605 sqft
    2021-04-01 22 days 1,617 sqft
    2021-05-01 21 days 1,667 sqft
    2021-06-01 22 days 1,648 sqft
    2021-07-01 22 days 1,630 sqft
    2021-08-01 27 days 1,639 sqft
    2021-09-01 30 days 1,614 sqft
    2021-10-01 31 days 1,654 sqft
    2021-11-01 37 days 1,641 sqft
    2021-12-01 40 days 1,660 sqft
    2022-01-01 39 days 1,633 sqft
    2022-02-01 26 days 1,644 sqft
    2022-03-01 22 days 1,678 sqft
    2022-04-01 22 days 1,702 sqft
    2022-05-01 23 days 1,719 sqft
    2022-06-01 26 days 1,764 sqft
    2022-07-01 31 days 1,750 sqft
    2022-08-01 38 days 1,743 sqft
    2022-09-01 44 days 1,749 sqft
    2022-10-01 46 days 1,729 sqft
    2022-11-01 50 days 1,726 sqft
    2022-12-01 61 days 1,729 sqft
    2023-01-01 66 days 1,737 sqft
    2023-02-01 49 days 1,716 sqft
    2023-03-01 44 days 1,704 sqft
    2023-04-01 39 days 1,749 sqft
    2023-05-01 31 days 1,756 sqft
    Bakersfield's median listing age (time on market) for 2023-05-01 was 31 days. This is 38% longer than the same period one year ago.

    Bakersfield's median square footage for active listings during the 2023-05-01 period was 1,756 sqft. One year prior, the average listing was 1,719 sqft.