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 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.