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 15 lenders originated 32 USDA loans during 2023. The total origination value was $12,570,000, with an average USDA loan value of $392,813.

Bakersfield USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Bakersfield averaged 0.08% for the week of 2024-06-21, compared to the national average (all USDA variants) of 0% for the same period.

Bakersfield's average USDA mortgage closing costs are $6,951.

The average rate for the prior week (2024-06-14) was 6.46% and one month ago for the week of 2024-05-17, the average rate was 6.7%.

The average rate one year ago was 6.68%.

For refis of the same type during the week of 2024-06-21, the average rate was -0.14%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Century Mortgage Company DBA Century Lending Company 8 6.27% $8,139
UNITED WHOLESALE MORTGAGE, LLC 4 6.15% $9,646
Sierra Pacific Mortgage Company, Inc. 3 5.63% $14,040
AMERICAN PACIFIC MORTGAGE CORPORATION 2 5.69% $13,375
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.00% $12,974
ALAMEDA MORTGAGE CORPORATION 1 6.38% $6,332
MICHIGAN MUTUAL, INC. 1 6.25% $9,040
Mortgage Research Center, LLC 1 6.75% $3,389
Paramount Residential Mortgage Group, Inc. 1 6.38% $4,907
PLAZA HOME MORTGAGE, INC. 1 6.13% $9,609
LOANDEPOT.COM, LLC 1 7.13% $13,645
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.63% $13,059
CALCON MUTUAL MORTGAGE LLC 1 6.50% $11,324
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $2,943
GUILD MORTGAGE COMPANY 1 6.38% $11,506

The top Bakersfield USDA lender as defined by loan originations is Century Mortgage Company DBA Century Lending Company, with 8 USDA loans originated. Their average total fees are $8,139, which is $1,506 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Bakersfield USDA lenders (with over 10 loans originated) are .

The lowest rate Bakersfield USDA lenders (with over 10 loans originated) are .


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 (2.9%) 0.88 2,062
2018-02-01 $239,950 (4.8%) $280,656 (1.8%) 0.87 2,097
2018-03-01 $250,000 (5.0%) $289,500 (2.2%) 0.88 2,130
2018-04-01 $259,450 (5.9%) $293,811 (1.4%) 0.88 2,227
2018-05-01 $262,450 (5.2%) $297,692 (2.6%) 0.88 2,229
2018-06-01 $263,000 (5.2%) $296,432 (2.6%) 0.88 2,343
2018-07-01 $259,900 (4.0%) $293,478 (2.0%) 0.87 2,441
2018-08-01 $256,500 (2.9%) $290,070 (1.6%) 0.86 2,511
2018-09-01 $254,900 (2.4%) $290,435 (2.2%) 0.86 2,561
2018-10-01 $250,000 (0.7%) $288,148 (0.9%) 0.85 2,495
2018-11-01 $249,900 (2.5%) $286,401 (1.1%) 0.85 2,437
2018-12-01 $249,000 (4.2%) $285,236 (0.6%) 0.86 2,274
2019-01-01 $245,000 (3.8%) $282,141 (0.8%) 0.85 2,087
2019-02-01 $245,000 (2.1%) $283,726 (1.1%) 0.83 2,072
2019-03-01 $252,400 (1.0%) $292,326 (1.0%) 0.83 2,109
2019-04-01 $261,308 (0.7%) $303,499 (3.3%) 0.83 2,189
2019-05-01 $262,950 (0.2%) $304,467 (2.3%) 0.82 2,273
2019-06-01 $264,900 (0.7%) $304,527 (2.7%) 0.83 2,353
2019-07-01 $266,913 (2.7%) $306,832 (4.6%) 0.84 2,387
2019-08-01 $262,818 (2.5%) $304,078 (4.8%) 0.83 2,346
2019-09-01 $259,545 (1.8%) $303,742 (4.6%) 0.83 2,247
2019-10-01 $258,089 (3.2%) $303,664 (5.4%) 0.83 2,173
2019-11-01 $258,700 (3.5%) $308,427 (7.7%) 0.85 2,035
2019-12-01 $258,500 (3.8%) $377,201 (32.2%) 0.86 1,861
2020-01-01 $259,450 (5.9%) $305,015 (8.1%) 0.87 1,646
2020-02-01 $259,900 (6.1%) $315,114 (11.1%) 0.85 1,583
2020-03-01 $269,950 (7.0%) $324,409 (11.0%) 0.85 1,608
2020-04-01 $269,450 (3.1%) $320,455 (5.6%) 0.84 1,670
2020-05-01 $269,900 (2.6%) $324,868 (6.7%) 0.82 1,596
2020-06-01 $271,238 (2.4%) $333,511 (9.5%) 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%) $364,117 (19.9%) 0.86 1,164
2020-11-01 $299,900 (15.9%) $353,211 (14.5%) 0.88 1,075
2020-12-01 $287,000 (11.0%) $337,567 (-10.5%) 0.85 1,002
2021-01-01 $279,000 (7.5%) $330,098 (8.2%) 0.83 891
2021-02-01 $284,500 (9.5%) $345,197 (9.6%) 0.83 774
2021-03-01 $294,995 (9.3%) $353,470 (9.0%) 0.84 722
2021-04-01 $300,500 (11.5%) $353,987 (10.5%) 0.81 751
2021-05-01 $315,000 (16.7%) $374,042 (15.1%) 0.84 742
2021-06-01 $313,250 (15.5%) $380,198 (14.0%) 0.82 838
2021-07-01 $320,000 (14.3%) $380,927 (10.6%) 0.84 983
2021-08-01 $320,000 (8.5%) $379,666 (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%) $418,366 (21.2%) 0.91 746
2022-03-01 $359,500 (21.9%) $424,585 (20.1%) 0.90 754
2022-04-01 $365,000 (21.5%) $434,600 (22.8%) 0.87 874
2022-05-01 $389,487 (23.7%) $444,796 (18.9%) 0.89 1,178
2022-06-01 $399,450 (27.5%) $440,618 (15.9%) 0.89 1,393
2022-07-01 $390,000 (21.9%) $434,997 (14.2%) 0.88 1,618
2022-08-01 $389,600 (21.8%) $430,160 (13.3%) 0.90 1,699
2022-09-01 $387,529 (21.5%) $431,012 (13.5%) 0.91 1,746
2022-10-01 $380,000 (15.2%) $426,760 (9.5%) 0.89 1,795
2022-11-01 $375,000 (11.3%) $427,854 (7.1%) 0.90 1,757
2022-12-01 $370,000 (8.8%) $425,437 (4.5%) 0.91 1,488
2023-01-01 $374,700 (10.4%) $423,949 (4.4%) 0.93 1,315
2023-02-01 $374,504 (7.2%) $424,486 (1.5%) 0.90 1,172
2023-03-01 $380,000 (5.7%) $431,359 (1.6%) 0.90 1,009
2023-04-01 $390,000 (6.9%) $446,409 (2.7%) 0.91 922
2023-05-01 $390,000 (0.1%) $450,690 (1.3%) 0.88 1,024
2023-06-01 $392,500 (-1.7%) $456,789 (3.7%) 0.88 1,063
2023-07-01 $399,000 (2.3%) $452,936 (4.1%) 0.91 1,130
2023-08-01 $389,963 (0.1%) $444,484 (3.3%) 0.90 1,243
2023-09-01 $385,000 (-0.7%) $436,210 (1.2%) 0.90 1,339
2023-10-01 $379,950 (0.0%) $436,371 (2.3%) 0.89 1,380
2023-11-01 $385,000 (2.7%) $445,210 (4.1%) 0.92 1,407
2023-12-01 $384,450 (3.9%) $441,401 (3.8%) 0.94 1,325
2024-01-01 $382,224 (2.0%) $440,229 (3.8%) 0.93 1,208
2024-02-01 $379,950 (1.5%) $438,812 (3.4%) 0.91 1,157
2024-03-01 $385,000 (1.3%) $440,785 (2.2%) 0.91 1,180
2024-04-01 $397,000 (1.8%) $443,653 (-0.6%) 0.92 1,261
2024-05-01 $408,613 (4.8%) $459,613 (2.0%) 0.92 1,330
Bakersfield's median listing price for 2024-05-01 was $408,613, a difference of $18,613 (4.8%) versus the prior year and $11,613 versus the prior month.

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

Bakersfield's average listing price for 2024-05-01 was $459,613, a difference of $8,923 (2.0%) versus the prior year and $15,960 versus the prior month.

For the 2024-05-01 period, Bakersfield had 1,330 MLS listings, a difference of 69 listings (5%) versus the prior month and 306 listings (30%) 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 1,708 sqft
2018-02-01 41 days 1,714 sqft
2018-03-01 40 days 1,746 sqft
2018-04-01 43 days 1,761 sqft
2018-05-01 43 days 1,782 sqft
2018-06-01 44 days 1,774 sqft
2018-07-01 45 days 1,770 sqft
2018-08-01 46 days 1,744 sqft
2018-09-01 46 days 1,739 sqft
2018-10-01 53 days 1,707 sqft
2018-11-01 56 days 1,693 sqft
2018-12-01 64 days 1,682 sqft
2019-01-01 66 days 1,667 sqft
2019-02-01 51 days 1,670 sqft
2019-03-01 45 days 1,707 sqft
2019-04-01 43 days 1,746 sqft
2019-05-01 40 days 1,747 sqft
2019-06-01 44 days 1,736 sqft
2019-07-01 44 days 1,747 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 1,685 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 1,716 sqft
2020-04-01 46 days 1,702 sqft
2020-05-01 54 days 1,698 sqft
2020-06-01 47 days 1,708 sqft
2020-07-01 36 days 1,713 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 1,632 sqft
2021-01-01 40 days 1,605 sqft
2021-02-01 32 days 1,600 sqft
2021-03-01 23 days 1,605 sqft
2021-04-01 22 days 1,620 sqft
2021-05-01 21 days 1,666 sqft
2021-06-01 22 days 1,648 sqft
2021-07-01 22 days 1,633 sqft
2021-08-01 27 days 1,639 sqft
2021-09-01 30 days 1,613 sqft
2021-10-01 31 days 1,654 sqft
2021-11-01 37 days 1,640 sqft
2021-12-01 40 days 1,659 sqft
2022-01-01 39 days 1,634 sqft
2022-02-01 26 days 1,647 sqft
2022-03-01 22 days 1,680 sqft
2022-04-01 22 days 1,702 sqft
2022-05-01 23 days 1,715 sqft
2022-06-01 26 days 1,759 sqft
2022-07-01 31 days 1,748 sqft
2022-08-01 38 days 1,742 sqft
2022-09-01 44 days 1,749 sqft
2022-10-01 46 days 1,729 sqft
2022-11-01 50 days 1,725 sqft
2022-12-01 61 days 1,729 sqft
2023-01-01 66 days 1,737 sqft
2023-02-01 49 days 1,717 sqft
2023-03-01 44 days 1,708 sqft
2023-04-01 38 days 1,750 sqft
2023-05-01 31 days 1,760 sqft
2023-06-01 32 days 1,753 sqft
2023-07-01 35 days 1,760 sqft
2023-08-01 38 days 1,737 sqft
2023-09-01 39 days 1,724 sqft
2023-10-01 42 days 1,673 sqft
2023-11-01 45 days 1,687 sqft
2023-12-01 54 days 1,668 sqft
2024-01-01 59 days 1,693 sqft
2024-02-01 45 days 1,680 sqft
2024-03-01 44 days 1,699 sqft
2024-04-01 39 days 1,697 sqft
2024-05-01 32 days 1,729 sqft
Bakersfield's median listing age (time on market) for 2024-05-01 was 32 days. This is 2% longer than the same period one year ago.

Bakersfield's median square footage for active listings during the 2024-05-01 period was 1,729 sqft. One year prior, the average listing was 1,760 sqft.