Bellingham USDA Loans
BELLINGHAM, WA
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.
Bellingham's 13 lenders originated 30 USDA loans during 2021. The total origination value was $10,780,000, with an average USDA loan value of $359,333.
Bellingham USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Bellingham
averaged
5.36%
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was
5.09% and
one month ago for the week of 2022-04-08, the
average rate was 4.65%.
The average rate one year ago was 3.27%.
For refis of the same type during the week of 2022-05-13, the average rate
was 4.89%.
Bellingham 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 Bellingham level.
| Name | # of Loans | 2021 Avg. 30yFix Rate | 2021 Avg. Total Fees |
|---|---|---|---|
| Umpqua Bank | 8 | 2.42% | $8,703 |
| Bank of the Pacific | 6 | 2.27% | $6,983 |
| MOVEMENT MORTGAGE, LLC | 3 | 3.00% | $6,729 |
| CANOPY MORTGAGE, LLC | 3 | 2.46% | $5,692 |
| MID AMERICA MORTGAGE, INC. | 2 | 2.69% | $3,383 |
| GUILD MORTGAGE COMPANY | 1 | 2.63% | $6,841 |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | 1 | 2.50% | $4,523 |
| AMERICAN PACIFIC MORTGAGE CORPORATION | 1 | 3.00% | $11,949 |
| WHATCOM EDUCATIONAL CREDIT UNION | 1 | 2.38% | $6,696 |
| CALIBER HOME LOANS, INC. | 1 | 2.75% | $7,797 |
| Citizens Bank | 1 | 2.75% | $7,152 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 2.25% | $3,995 |
| Flagstar Bank, FSB | 1 | 2.50% | $9,287 |
The top Bellingham USDA lender as defined by loan originations is Umpqua Bank, with
8 USDA loans originated. Their average total fees are
$8,703, which is $1,720
higher than the next largest lender,
Bank of the Pacific.
The lowest fee Bellingham USDA lenders (with over 10 loans originated) are
.
The lowest rate Bellingham USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Bellingham (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 | $419,944 (7.1%) | $516,333 (-4.8%) | 1.55 | 459 |
| 2018-02-01 | $425,000 (9.2%) | $491,602 (-9.1%) | 1.53 | 446 |
| 2018-03-01 | $425,000 (8.4%) | $498,923 (-7.0%) | 1.47 | 463 |
| 2018-04-01 | $437,000 (10.6%) | $509,728 (-4.9%) | 1.47 | 488 |
| 2018-05-01 | $444,950 (12.1%) | $530,279 (0.7%) | 1.48 | 535 |
| 2018-06-01 | $449,000 (12.5%) | $538,308 (2.5%) | 1.50 | 596 |
| 2018-07-01 | $437,000 (4.1%) | $531,515 (-1.1%) | 1.46 | 631 |
| 2018-08-01 | $422,500 (1.3%) | $523,910 (-2.1%) | 1.41 | 663 |
| 2018-09-01 | $429,000 (4.6%) | $533,600 (0.4%) | 1.43 | 680 |
| 2018-10-01 | $425,000 (1.4%) | $557,257 (6.3%) | 1.42 | 667 |
| 2018-11-01 | $419,250 (1.0%) | $551,381 (7.0%) | 1.41 | 642 |
| 2018-12-01 | $414,900 (0.0%) | $553,389 (8.6%) | 1.42 | 576 |
| 2019-01-01 | $415,950 (-1.0%) | $559,790 (8.4%) | 1.43 | 503 |
| 2019-02-01 | $427,000 (0.5%) | $565,661 (15.1%) | 1.43 | 504 |
| 2019-03-01 | $429,386 (1.0%) | $564,858 (13.2%) | 1.40 | 531 |
| 2019-04-01 | $432,450 (-1.0%) | $567,291 (11.3%) | 1.36 | 573 |
| 2019-05-01 | $447,500 (0.6%) | $578,077 (9.0%) | 1.38 | 620 |
| 2019-06-01 | $450,000 (0.2%) | $573,371 (6.5%) | 1.39 | 680 |
| 2019-07-01 | $449,475 (2.9%) | $566,532 (6.6%) | 1.40 | 716 |
| 2019-08-01 | $449,429 (6.4%) | $561,565 (7.2%) | 1.41 | 745 |
| 2019-09-01 | $449,929 (4.9%) | $561,629 (5.3%) | 1.43 | 764 |
| 2019-10-01 | $448,000 (5.4%) | $559,041 (0.3%) | 1.43 | 863 |
| 2019-11-01 | $450,000 (7.3%) | $562,678 (2.1%) | 1.45 | 776 |
| 2019-12-01 | $439,000 (5.8%) | $549,591 (-0.7%) | 1.46 | 662 |
| 2020-01-01 | $444,900 (7.0%) | $576,568 (3.0%) | 1.48 | 541 |
| 2020-02-01 | $449,750 (5.3%) | $565,573 (0.0%) | 1.45 | 511 |
| 2020-03-01 | $447,000 (4.1%) | $561,702 (-0.6%) | 1.40 | 558 |
| 2020-04-01 | $441,950 (2.2%) | $551,900 (-2.7%) | 1.38 | 618 |
| 2020-05-01 | $445,000 (-0.6%) | $547,590 (-5.3%) | 1.35 | 655 |
| 2020-06-01 | $454,950 (1.1%) | $571,943 (-0.3%) | 1.33 | 677 |
| 2020-07-01 | $471,975 (5.0%) | $594,547 (5.0%) | 1.35 | 675 |
| 2020-08-01 | $465,000 (3.5%) | $587,521 (4.6%) | 1.33 | 613 |
| 2020-09-01 | $459,900 (2.2%) | $579,529 (3.2%) | 1.31 | 558 |
| 2020-10-01 | $467,500 (4.4%) | $602,698 (7.8%) | 1.34 | 515 |
| 2020-11-01 | $447,950 (-0.5%) | $596,814 (6.1%) | 1.28 | 341 |
| 2020-12-01 | $449,500 (2.4%) | $585,324 (6.5%) | 1.32 | 302 |
| 2021-01-01 | $439,900 (-1.1%) | $604,906 (4.9%) | 1.29 | 243 |
| 2021-02-01 | $437,450 (-2.7%) | $627,126 (10.9%) | 1.26 | 245 |
| 2021-03-01 | $474,450 (6.1%) | $643,675 (14.6%) | 1.33 | 240 |
| 2021-04-01 | $499,450 (13.0%) | $678,259 (22.9%) | 1.34 | 240 |
| 2021-05-01 | $525,000 (18.0%) | $721,166 (31.7%) | 1.38 | 260 |
| 2021-06-01 | $545,000 (19.8%) | $744,865 (30.2%) | 1.42 | 288 |
| 2021-07-01 | $591,950 (25.4%) | $822,420 (38.3%) | 1.54 | 258 |
| 2021-08-01 | $625,000 (34.4%) | $829,653 (41.2%) | 1.64 | 279 |
| 2021-09-01 | $624,925 (35.9%) | $837,515 (44.5%) | 1.64 | 270 |
| 2021-10-01 | $600,000 (28.3%) | $803,688 (33.4%) | 1.58 | 269 |
| 2021-11-01 | $619,500 (38.3%) | $807,039 (35.2%) | 1.63 | 226 |
| 2021-12-01 | $599,900 (33.5%) | $823,382 (40.7%) | 1.60 | 154 |
| 2022-01-01 | $579,900 (31.8%) | $877,449 (45.1%) | 1.55 | 116 |
| 2022-02-01 | $663,500 (51.7%) | $945,176 (50.7%) | 1.69 | 121 |
| 2022-03-01 | $649,750 (37.0%) | $917,217 (42.5%) | 1.60 | 157 |
| 2022-04-01 | $649,950 (30.1%) | $862,110 (27.1%) | 1.53 | 207 |
Bellingham's median listing price comes in at 153% of the national average.
Bellingham's average listing price for 2022-04-01 was $862,110, a difference of $183,851 (27.1%) versus the prior year and $-55,107 versus the prior month.
For the 2022-04-01 period, Bellingham had 207 MLS listings, a difference of 50 listings (32%) versus the prior month and -33 listings (-14%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Bellingham (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 89 days | 1,901 sqft |
| 2018-02-01 | 83 days | 1,905 sqft |
| 2018-03-01 | 51 days | 1,870 sqft |
| 2018-04-01 | 46 days | 1,890 sqft |
| 2018-05-01 | 41 days | 1,938 sqft |
| 2018-06-01 | 39 days | 1,960 sqft |
| 2018-07-01 | 45 days | 1,942 sqft |
| 2018-08-01 | 44 days | 1,880 sqft |
| 2018-09-01 | 51 days | 1,870 sqft |
| 2018-10-01 | 58 days | 1,941 sqft |
| 2018-11-01 | 61 days | 1,889 sqft |
| 2018-12-01 | 72 days | 1,826 sqft |
| 2019-01-01 | 76 days | 1,831 sqft |
| 2019-02-01 | 69 days | 1,917 sqft |
| 2019-03-01 | 58 days | 1,880 sqft |
| 2019-04-01 | 33 days | 1,842 sqft |
| 2019-05-01 | 42 days | 1,894 sqft |
| 2019-06-01 | 44 days | 1,920 sqft |
| 2019-07-01 | 50 days | 1,936 sqft |
| 2019-08-01 | 52 days | 1,922 sqft |
| 2019-09-01 | 56 days | 1,924 sqft |
| 2019-10-01 | 63 days | 1,893 sqft |
| 2019-11-01 | 70 days | 1,910 sqft |
| 2019-12-01 | 82 days | 1,839 sqft |
| 2020-01-01 | 98 days | 1,834 sqft |
| 2020-02-01 | 98 days | 1,832 sqft |
| 2020-03-01 | 54 days | 1,836 sqft |
| 2020-04-01 | 45 days | 1,791 sqft |
| 2020-05-01 | 56 days | 1,820 sqft |
| 2020-06-01 | 62 days | 1,825 sqft |
| 2020-07-01 | 51 days | 1,874 sqft |
| 2020-08-01 | 51 days | 1,824 sqft |
| 2020-09-01 | 50 days | 1,780 sqft |
| 2020-10-01 | 50 days | 1,824 sqft |
| 2020-11-01 | 63 days | 1,717 sqft |
| 2020-12-01 | 78 days | 1,636 sqft |
| 2021-01-01 | 97 days | 1,565 sqft |
| 2021-02-01 | 74 days | 1,590 sqft |
| 2021-03-01 | 50 days | 1,635 sqft |
| 2021-04-01 | 44 days | 1,640 sqft |
| 2021-05-01 | 35 days | 1,702 sqft |
| 2021-06-01 | 33 days | 1,762 sqft |
| 2021-07-01 | 35 days | 1,850 sqft |
| 2021-08-01 | 36 days | 1,896 sqft |
| 2021-09-01 | 36 days | 1,939 sqft |
| 2021-10-01 | 35 days | 1,899 sqft |
| 2021-11-01 | 40 days | 1,895 sqft |
| 2021-12-01 | 51 days | 1,860 sqft |
| 2022-01-01 | 46 days | 1,701 sqft |
| 2022-02-01 | 31 days | 1,941 sqft |
| 2022-03-01 | 26 days | 1,868 sqft |
| 2022-04-01 | 23 days | 1,857 sqft |
Bellingham's median square footage for active listings during the 2022-04-01 period was 1,857 sqft. One year prior, the average listing was 1,640 sqft.
