Bakersfield USDA Loans

BAKERSFIELD, CA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.