Bakersfield USDA Loans

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 5.46% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

The average rate for the prior week (2022-05-13) was 5.14% and one month ago for the week of 2022-04-15, the average rate was 5.24%.

The average rate one year ago was 3.39%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.21%.

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 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. Total Fees
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 $240,000 (6.2%) $295,796 (6.5%) 0.88 2,247
2018-02-01 $244,975 (6.5%) $295,240 (4.1%) 0.88 2,305
2018-03-01 $255,000 (6.3%) $295,289 (0.8%) 0.88 2,316
2018-04-01 $259,925 (6.1%) $307,647 (3.7%) 0.87 2,422
2018-05-01 $265,000 (6.8%) $313,203 (5.5%) 0.88 2,411
2018-06-01 $265,000 (5.0%) $310,733 (4.8%) 0.88 2,548
2018-07-01 $262,975 (5.2%) $309,351 (5.2%) 0.88 2,651
2018-08-01 $259,000 (3.6%) $304,821 (4.3%) 0.87 2,700
2018-09-01 $255,000 (2.4%) $305,575 (4.7%) 0.85 2,765
2018-10-01 $249,999 (0.2%) $302,658 (0.7%) 0.84 2,754
2018-11-01 $249,900 (0.4%) $298,910 (0.0%) 0.84 2,685
2018-12-01 $248,000 (1.2%) $294,217 (-1.7%) 0.85 2,509
2019-01-01 $244,975 (2.1%) $291,910 (-1.3%) 0.84 2,287
2019-02-01 $246,350 (0.6%) $294,388 (-0.3%) 0.83 2,280
2019-03-01 $253,614 (-0.5%) $302,030 (2.3%) 0.83 2,304
2019-04-01 $259,900 (0.0%) $311,793 (1.4%) 0.82 2,365
2019-05-01 $260,000 (-1.9%) $312,977 (-0.1%) 0.80 2,471
2019-06-01 $260,000 (-1.9%) $313,655 (0.9%) 0.80 2,566
2019-07-01 $265,700 (1.0%) $316,337 (2.3%) 0.83 2,603
2019-08-01 $262,429 (1.3%) $312,738 (2.6%) 0.83 2,494
2019-09-01 $259,879 (1.9%) $309,710 (1.4%) 0.83 2,321
2019-10-01 $259,450 (3.8%) $308,221 (1.8%) 0.83 2,340
2019-11-01 $259,000 (3.6%) $312,153 (4.4%) 0.84 2,246
2019-12-01 $259,900 (4.8%) $376,444 (28.0%) 0.87 2,048
2020-01-01 $259,950 (6.1%) $314,712 (7.8%) 0.87 1,809
2020-02-01 $263,500 (7.0%) $325,188 (10.5%) 0.85 1,725
2020-03-01 $274,900 (8.4%) $333,579 (10.5%) 0.86 1,750
2020-04-01 $270,000 (3.9%) $327,870 (5.2%) 0.84 1,814
2020-05-01 $274,900 (5.7%) $332,344 (6.2%) 0.83 1,732
2020-06-01 $277,000 (6.5%) $341,697 (8.9%) 0.81 1,527
2020-07-01 $289,250 (8.9%) $351,848 (11.2%) 0.83 1,401
2020-08-01 $299,000 (13.9%) $364,756 (16.6%) 0.85 1,241
2020-09-01 $309,500 (19.1%) $377,520 (21.9%) 0.88 1,275
2020-10-01 $304,000 (17.2%) $377,877 (22.6%) 0.87 1,253
2020-11-01 $299,995 (15.8%) $362,591 (16.2%) 0.86 1,165
2020-12-01 $287,500 (10.6%) $346,097 (-8.1%) 0.84 1,075
2021-01-01 $279,999 (7.7%) $334,823 (6.4%) 0.82 944
2021-02-01 $282,450 (7.2%) $347,616 (6.9%) 0.81 829
2021-03-01 $297,000 (8.0%) $362,198 (8.6%) 0.83 758
2021-04-01 $303,450 (12.4%) $361,245 (10.2%) 0.82 791
2021-05-01 $315,000 (14.6%) $380,733 (14.6%) 0.83 800
2021-06-01 $319,000 (15.2%) $389,167 (13.9%) 0.83 901
2021-07-01 $326,700 (13.0%) $388,080 (10.3%) 0.85 1,044
2021-08-01 $322,500 (7.9%) $386,555 (6.0%) 0.85 1,229
2021-09-01 $325,000 (5.0%) $394,767 (4.6%) 0.86 1,245
2021-10-01 $339,000 (11.5%) $401,576 (6.3%) 0.89 1,311
2021-11-01 $340,000 (13.3%) $411,311 (13.4%) 0.90 1,135
2021-12-01 $345,000 (20.0%) $434,307 (25.5%) 0.92 1,019
2022-01-01 $345,000 (23.2%) $432,152 (29.1%) 0.92 867
2022-02-01 $349,900 (23.9%) $447,854 (28.8%) 0.89 823
2022-03-01 $359,500 (21.0%) $452,716 (25.0%) 0.89 821
2022-04-01 $370,000 (21.9%) $445,450 (23.3%) 0.87 951
Bakersfield's median listing price for 2022-04-01 was $370,000, a difference of $66,550 (21.9%) versus the prior year and $10,500 versus the prior month.

Bakersfield's median listing price comes in at 87% of the national average.

Bakersfield's average listing price for 2022-04-01 was $445,450, a difference of $84,205 (23.3%) versus the prior year and $-7,266 versus the prior month.

For the 2022-04-01 period, Bakersfield had 951 MLS listings, a difference of 130 listings (16%) versus the prior month and 160 listings (20%) 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 1,721 sqft
2018-02-01 43 days 1,721 sqft
2018-03-01 43 days 1,750 sqft
2018-04-01 45 days 1,768 sqft
2018-05-01 44 days 1,789 sqft
2018-06-01 45 days 1,787 sqft
2018-07-01 46 days 1,772 sqft
2018-08-01 47 days 1,748 sqft
2018-09-01 47 days 1,740 sqft
2018-10-01 53 days 1,713 sqft
2018-11-01 57 days 1,695 sqft
2018-12-01 66 days 1,688 sqft
2019-01-01 68 days 1,680 sqft
2019-02-01 54 days 1,682 sqft
2019-03-01 47 days 1,715 sqft
2019-04-01 43 days 1,743 sqft
2019-05-01 43 days 1,752 sqft
2019-06-01 46 days 1,736 sqft
2019-07-01 47 days 1,754 sqft
2019-08-01 49 days 1,731 sqft
2019-09-01 49 days 1,714 sqft
2019-10-01 50 days 1,698 sqft
2019-11-01 53 days 1,689 sqft
2019-12-01 57 days 1,685 sqft
2020-01-01 62 days 1,690 sqft
2020-02-01 44 days 1,700 sqft
2020-03-01 40 days 1,741 sqft
2020-04-01 46 days 1,729 sqft
2020-05-01 55 days 1,715 sqft
2020-06-01 49 days 1,731 sqft
2020-07-01 38 days 1,751 sqft
2020-08-01 34 days 1,795 sqft
2020-09-01 30 days 1,816 sqft
2020-10-01 33 days 1,797 sqft
2020-11-01 35 days 1,727 sqft
2020-12-01 38 days 1,645 sqft
2021-01-01 36 days 1,612 sqft
2021-02-01 31 days 1,602 sqft
2021-03-01 22 days 1,627 sqft
2021-04-01 23 days 1,630 sqft
2021-05-01 22 days 1,680 sqft
2021-06-01 23 days 1,661 sqft
2021-07-01 22 days 1,671 sqft
2021-08-01 29 days 1,658 sqft
2021-09-01 30 days 1,639 sqft
2021-10-01 31 days 1,673 sqft
2021-11-01 37 days 1,657 sqft
2021-12-01 40 days 1,685 sqft
2022-01-01 39 days 1,655 sqft
2022-02-01 29 days 1,674 sqft
2022-03-01 25 days 1,706 sqft
2022-04-01 22 days 1,736 sqft
Bakersfield's median listing age (time on market) for 2022-04-01 was 22 days. This is -2% shorter than the same period one year ago.

Bakersfield's median square footage for active listings during the 2022-04-01 period was 1,736 sqft. One year prior, the average listing was 1,630 sqft.