Bakersfield USDA Loan Rates, Closing Costs & Stats

BAKERSFIELD, CA

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 45 lenders originated 143 USDA loans during 2021. The total origination value was $35,925,000, with an average USDA loan value of $251,224.

Bakersfield USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Bakersfield averaged 0.04% for the week of 2023-01-20, compared to the national average (all USDA variants) of 0% for the same period.

Bakersfield's average USDA mortgage closing costs are $6,566.

The average rate for the prior week (2023-01-13) was 6.19% and one month ago for the week of 2022-12-16, the average rate was 6.36%.

The average rate one year ago was 3.48%.

For refis of the same type during the week of 2023-01-20, the average rate was -0.4%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
HOME POINT FINANCIAL CORPORATION 23 3.03% $7,078
DIGNIFIED HOME LOANS, LLC 12 2.76% $6,359
AMERICAN PACIFIC MORTGAGE CORPORATION 10 2.71% $7,117
Sierra Pacific Mortgage Company, Inc. 8 2.67% $6,035
UNITED WHOLESALE MORTGAGE, LLC 5 2.83% $7,404
GUILD MORTGAGE COMPANY 5 2.70% $10,867
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.28% $8,004
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 2.84% $6,462
AMERICAN FINANCIAL NETWORK, INC. 4 3.00% $9,968
Nations Lending Corporation 3 3.67% $5,133
CALIBER HOME LOANS, INC. 3 2.42% $6,286
CELEBRITY HOME LOANS, LLC 3 3.00% $8,260
FINANCE OF AMERICA MORTGAGE LLC 3 2.71% $6,970
GUARANTEED RATE, INC. 3 2.83% $6,628
HOMESIDE FINANCIAL, LLC 3 2.67% $8,015
LOANDEPOT.COM, LLC 3 3.29% $10,603
MICHIGAN MUTUAL, INC. 3 3.00% $7,374
PENNYMAC LOAN SERVICES, LLC 2 2.94% $7,701
Platinum Home Mortgage Corporation 2 2.81% $9,690
Flagstar Bank, FSB 2 2.87% $5,776
Hometown Lenders, Inc. 2 2.44% $9,460
First Guaranty Mortgage Corporation 2 3.00% $3,039
DRAPER AND KRAMER MORTGAGE CORP. 2 2.38% $7,008
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.88% $6,347
MASON MCDUFFIE MORTGAGE CORPORATION 2 2.75% $8,951
LAKEVIEW LOAN SERVICING, LLC 1 3.25% $4,136
Bank of England 1 2.75% $10,035
VERITAS FUNDING, LLC 1 2.25% $4,438
MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 3.63% $8,980
Century Mortgage Company DBA Century Lending Company 1 2.25% $4,240
PANORAMA MORTGAGE GROUP, LLC 1 2.25% $8,749
Paramount Residential Mortgage Group, Inc. 1 2.75% $7,368
Carrington Mortgage Services, LLC 1 3.63% $9,749
CORNERSTONE HOME LENDING, INC. 1 3.25% $6,275
Commerce Home Mortgage, Inc. 1 2.88% $8,265
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.88% $12,318
RANLIFE, INC. 1 3.63% $7,132
FBC MORTGAGE, LLC 1 2.75% $5,501
FREEDOM MORTGAGE CORPORATION 1 2.88% $5,050
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.38% $6,349
CMG MORTGAGE, INC. 1 2.75% $4,278
HOME FUNDING CORPORATION 1 3.00% $5,989
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.00% $8,727
CHOICE LENDING CORP. 1 3.25% $7,174
STEARNS LENDING, LLC 1 3.13% $13,027

The top Bakersfield USDA lender as defined by loan originations is HOME POINT FINANCIAL CORPORATION, with 23 USDA loans originated. Their average total fees are $7,078, which is $718 higher than the next largest lender, DIGNIFIED HOME LOANS, LLC.

The lowest fee Bakersfield USDA lenders (with over 10 loans originated) are DIGNIFIED HOME LOANS, LLC ($6,359), HOME POINT FINANCIAL CORPORATION ($7,078), AMERICAN PACIFIC MORTGAGE CORPORATION ($7,117), .

The lowest rate Bakersfield USDA lenders (with over 10 loans originated) are AMERICAN PACIFIC MORTGAGE CORPORATION (2.71%), DIGNIFIED HOME LOANS, LLC (2.76%), HOME POINT FINANCIAL CORPORATION (3.03%), .


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 (2.2%) 0.86 2,561
2018-10-01 $250,000 (0.8%) $288,423 (1.0%) 0.84 2,495
2018-11-01 $249,900 (2.5%) $286,879 (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%) $292,325 (0.8%) 0.83 2,108
2019-04-01 $261,308 (0.7%) $303,498 (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%) $304,436 (2.6%) 0.83 2,354
2019-07-01 $266,875 (2.7%) $306,796 (4.4%) 0.84 2,388
2019-08-01 $262,818 (2.5%) $304,049 (4.7%) 0.83 2,345
2019-09-01 $259,545 (1.8%) $303,848 (4.5%) 0.83 2,245
2019-10-01 $258,114 (3.3%) $303,857 (5.4%) 0.83 2,172
2019-11-01 $258,900 (3.6%) $308,654 (7.6%) 0.85 2,034
2019-12-01 $258,500 (3.8%) $377,329 (32.1%) 0.86 1,862
2020-01-01 $259,450 (5.9%) $304,875 (7.9%) 0.87 1,648
2020-02-01 $259,900 (6.1%) $315,069 (11.0%) 0.85 1,584
2020-03-01 $269,950 (7.0%) $324,360 (11.0%) 0.85 1,609
2020-04-01 $269,450 (3.1%) $320,408 (5.6%) 0.84 1,671
2020-05-01 $269,800 (2.7%) $324,818 (6.7%) 0.82 1,597
2020-06-01 $270,850 (2.3%) $333,325 (9.5%) 0.80 1,415
2020-07-01 $279,950 (4.9%) $344,109 (12.2%) 0.81 1,288
2020-08-01 $295,000 (12.2%) $349,076 (14.8%) 0.85 1,141
2020-09-01 $300,000 (15.6%) $362,481 (19.3%) 0.86 1,174
2020-10-01 $299,900 (16.2%) $363,899 (19.8%) 0.86 1,165
2020-11-01 $299,675 (15.8%) $352,980 (14.4%) 0.88 1,076
2020-12-01 $287,000 (11.0%) $337,308 (-10.6%) 0.85 1,004
2021-01-01 $279,000 (7.5%) $329,820 (8.2%) 0.83 893
2021-02-01 $284,500 (9.5%) $344,905 (9.5%) 0.83 775
2021-03-01 $294,873 (9.2%) $353,163 (8.9%) 0.84 723
2021-04-01 $299,750 (11.3%) $353,703 (10.4%) 0.81 752
2021-05-01 $315,000 (16.8%) $373,734 (15.1%) 0.83 743
2021-06-01 $313,300 (15.7%) $380,024 (14.0%) 0.82 839
2021-07-01 $320,000 (14.3%) $380,806 (10.7%) 0.84 983
2021-08-01 $320,000 (8.5%) $379,602 (8.7%) 0.85 1,116
2021-09-01 $318,413 (6.1%) $379,459 (4.7%) 0.85 1,129
2021-10-01 $329,900 (10.0%) $389,568 (7.1%) 0.88 1,175
2021-11-01 $337,000 (12.5%) $399,001 (13.0%) 0.90 1,029
2021-12-01 $339,750 (18.4%) $406,764 (20.6%) 0.92 921
2022-01-01 $339,500 (21.7%) $405,725 (23.0%) 0.92 801
2022-02-01 $349,000 (22.7%) $417,415 (21.0%) 0.91 748
2022-03-01 $358,000 (21.4%) $424,061 (20.1%) 0.90 756
2022-04-01 $365,000 (21.8%) $434,119 (22.7%) 0.87 876
2022-05-01 $389,487 (23.7%) $444,706 (19.0%) 0.89 1,180
2022-06-01 $399,450 (27.5%) $440,530 (15.9%) 0.89 1,396
2022-07-01 $390,000 (21.9%) $434,766 (14.2%) 0.88 1,620
2022-08-01 $389,500 (21.7%) $429,983 (13.3%) 0.90 1,701
2022-09-01 $387,000 (21.5%) $430,834 (13.5%) 0.91 1,749
2022-10-01 $380,000 (15.2%) $426,585 (9.5%) 0.89 1,799
2022-11-01 $375,000 (11.3%) $427,698 (7.2%) 0.90 1,762
2022-12-01 $369,625 (8.8%) $421,594 (3.7%) 0.92 1,514
Bakersfield's median listing price for 2022-12-01 was $369,625, a difference of $29,875 (8.8%) versus the prior year and $-5,375 versus the prior month.

Bakersfield's median listing price comes in at 92% of the national average.

Bakersfield's average listing price for 2022-12-01 was $421,594, a difference of $14,830 (3.7%) versus the prior year and $-6,104 versus the prior month.

For the 2022-12-01 period, Bakersfield had 1,514 MLS listings, a difference of -248 listings (-14%) versus the prior month and 593 listings (64%) 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 63 days 1,708 sqft
2018-02-01 43 days 1,713 sqft
2018-03-01 43 days 1,742 sqft
2018-04-01 44 days 1,758 sqft
2018-05-01 44 days 1,777 sqft
2018-06-01 45 days 1,772 sqft
2018-07-01 47 days 1,768 sqft
2018-08-01 47 days 1,740 sqft
2018-09-01 48 days 1,736 sqft
2018-10-01 55 days 1,703 sqft
2018-11-01 58 days 1,691 sqft
2018-12-01 66 days 1,681 sqft
2019-01-01 68 days 1,667 sqft
2019-02-01 54 days 1,667 sqft
2019-03-01 45 days 1,706 sqft
2019-04-01 43 days 1,745 sqft
2019-05-01 43 days 1,747 sqft
2019-06-01 45 days 1,736 sqft
2019-07-01 46 days 1,745 sqft
2019-08-01 47 days 1,723 sqft
2019-09-01 49 days 1,699 sqft
2019-10-01 52 days 1,687 sqft
2019-11-01 56 days 1,682 sqft
2019-12-01 59 days 1,674 sqft
2020-01-01 63 days 1,673 sqft
2020-02-01 44 days 1,680 sqft
2020-03-01 40 days 1,712 sqft
2020-04-01 48 days 1,699 sqft
2020-05-01 57 days 1,690 sqft
2020-06-01 50 days 1,703 sqft
2020-07-01 37 days 1,704 sqft
2020-08-01 35 days 1,760 sqft
2020-09-01 32 days 1,788 sqft
2020-10-01 36 days 1,759 sqft
2020-11-01 38 days 1,706 sqft
2020-12-01 41 days 1,625 sqft
2021-01-01 42 days 1,605 sqft
2021-02-01 32 days 1,593 sqft
2021-03-01 24 days 1,603 sqft
2021-04-01 23 days 1,615 sqft
2021-05-01 22 days 1,666 sqft
2021-06-01 23 days 1,646 sqft
2021-07-01 22 days 1,634 sqft
2021-08-01 27 days 1,639 sqft
2021-09-01 30 days 1,610 sqft
2021-10-01 31 days 1,645 sqft
2021-11-01 37 days 1,638 sqft
2021-12-01 41 days 1,657 sqft
2022-01-01 40 days 1,633 sqft
2022-02-01 27 days 1,643 sqft
2022-03-01 23 days 1,680 sqft
2022-04-01 22 days 1,702 sqft
2022-05-01 23 days 1,723 sqft
2022-06-01 27 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 1,730 sqft
2022-11-01 51 days 1,726 sqft
2022-12-01 64 days 1,724 sqft
Bakersfield's median listing age (time on market) for 2022-12-01 was 64 days. This is 57% longer than the same period one year ago.

Bakersfield's median square footage for active listings during the 2022-12-01 period was 1,724 sqft. One year prior, the average listing was 1,657 sqft.