Bellingham USDA Loan Rates, Closing Costs & Stats
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
5.96%
for the week of 2023-01-27, compared to the national average (all USDA variants) of
6.195% for the same period.
Bellingham's average USDA mortgage closing costs are $6,657.
The average rate for the prior week (2023-01-20) was
6.05% and
one month ago for the week of 2022-12-23, the
average rate was 6.08%.
The average rate one year ago was 3.83%.
For refis of the same type during the week of 2023-01-27, the average rate
was 6.09%.
Bellingham 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 Bellingham level.
| Name | # of Loans | 2021 Avg. 30yFix Rate | 2021 Avg. Closing Costs |
|---|---|---|---|
| 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 | $422,894 (7.1%) | $517,958 (-4.8%) | 1.57 | 457 |
| 2018-02-01 | $427,916 (9.4%) | $494,876 (-9.3%) | 1.55 | 441 |
| 2018-03-01 | $425,000 (7.9%) | $500,109 (-8.3%) | 1.49 | 450 |
| 2018-04-01 | $439,475 (10.1%) | $512,710 (-5.1%) | 1.49 | 478 |
| 2018-05-01 | $444,900 (11.5%) | $528,075 (-0.7%) | 1.49 | 533 |
| 2018-06-01 | $445,000 (11.5%) | $538,100 (1.7%) | 1.48 | 591 |
| 2018-07-01 | $440,500 (3.9%) | $533,668 (-0.8%) | 1.47 | 630 |
| 2018-08-01 | $421,000 (0.4%) | $522,524 (-3.0%) | 1.41 | 666 |
| 2018-09-01 | $429,000 (4.9%) | $531,273 (-0.2%) | 1.44 | 663 |
| 2018-10-01 | $429,675 (2.5%) | $561,683 (7.1%) | 1.45 | 655 |
| 2018-11-01 | $419,125 (1.2%) | $554,843 (7.5%) | 1.42 | 632 |
| 2018-12-01 | $414,900 (1.2%) | $554,611 (9.1%) | 1.43 | 577 |
| 2019-01-01 | $414,950 (-1.9%) | $559,550 (8.0%) | 1.43 | 504 |
| 2019-02-01 | $427,500 (-0.1%) | $568,775 (14.9%) | 1.44 | 502 |
| 2019-03-01 | $425,671 (0.2%) | $563,976 (12.8%) | 1.39 | 526 |
| 2019-04-01 | $425,171 (-3.3%) | $559,811 (9.2%) | 1.35 | 562 |
| 2019-05-01 | $444,675 (-0.1%) | $570,850 (8.1%) | 1.39 | 612 |
| 2019-06-01 | $450,000 (1.1%) | $572,570 (6.4%) | 1.41 | 679 |
| 2019-07-01 | $448,487 (1.8%) | $565,867 (6.0%) | 1.40 | 723 |
| 2019-08-01 | $447,545 (6.3%) | $558,671 (6.9%) | 1.42 | 781 |
| 2019-09-01 | $448,364 (4.5%) | $558,859 (5.2%) | 1.43 | 840 |
| 2019-10-01 | $448,909 (4.5%) | $558,481 (-0.6%) | 1.45 | 871 |
| 2019-11-01 | $449,950 (7.4%) | $556,269 (0.3%) | 1.48 | 793 |
| 2019-12-01 | $437,250 (5.4%) | $547,773 (-1.2%) | 1.46 | 662 |
| 2020-01-01 | $444,675 (7.2%) | $571,874 (2.2%) | 1.49 | 543 |
| 2020-02-01 | $448,000 (4.8%) | $556,400 (-2.2%) | 1.46 | 522 |
| 2020-03-01 | $445,000 (4.5%) | $554,564 (-1.7%) | 1.39 | 573 |
| 2020-04-01 | $439,450 (3.4%) | $549,065 (-1.9%) | 1.38 | 622 |
| 2020-05-01 | $439,900 (-1.1%) | $548,392 (-3.9%) | 1.34 | 660 |
| 2020-06-01 | $454,500 (1.0%) | $573,392 (0.1%) | 1.34 | 687 |
| 2020-07-01 | $464,950 (3.7%) | $595,001 (5.2%) | 1.35 | 680 |
| 2020-08-01 | $468,750 (4.7%) | $588,022 (5.3%) | 1.34 | 620 |
| 2020-09-01 | $460,425 (2.7%) | $581,272 (4.0%) | 1.32 | 565 |
| 2020-10-01 | $465,000 (3.6%) | $602,693 (7.9%) | 1.33 | 526 |
| 2020-11-01 | $444,950 (-1.1%) | $598,974 (7.7%) | 1.30 | 346 |
| 2020-12-01 | $444,975 (1.8%) | $588,546 (7.4%) | 1.32 | 309 |
| 2021-01-01 | $426,000 (-4.2%) | $603,751 (5.6%) | 1.27 | 249 |
| 2021-02-01 | $435,000 (-2.9%) | $628,372 (12.9%) | 1.26 | 254 |
| 2021-03-01 | $474,475 (6.6%) | $666,014 (20.1%) | 1.35 | 253 |
| 2021-04-01 | $494,500 (12.5%) | $675,563 (23.0%) | 1.34 | 244 |
| 2021-05-01 | $525,000 (19.4%) | $713,375 (30.1%) | 1.39 | 269 |
| 2021-06-01 | $543,750 (19.6%) | $742,078 (29.4%) | 1.43 | 292 |
| 2021-07-01 | $579,500 (24.6%) | $805,577 (35.4%) | 1.53 | 268 |
| 2021-08-01 | $600,000 (28.0%) | $825,561 (40.4%) | 1.60 | 283 |
| 2021-09-01 | $612,500 (33.0%) | $821,753 (41.4%) | 1.63 | 279 |
| 2021-10-01 | $599,900 (29.0%) | $806,732 (33.9%) | 1.60 | 276 |
| 2021-11-01 | $599,825 (34.8%) | $809,161 (35.1%) | 1.60 | 233 |
| 2021-12-01 | $599,450 (34.7%) | $826,450 (40.4%) | 1.62 | 161 |
| 2022-01-01 | $585,000 (37.3%) | $886,385 (46.8%) | 1.58 | 120 |
| 2022-02-01 | $662,494 (52.3%) | $959,469 (52.7%) | 1.72 | 126 |
| 2022-03-01 | $649,385 (36.9%) | $920,593 (38.2%) | 1.63 | 164 |
| 2022-04-01 | $649,444 (31.3%) | $857,302 (26.9%) | 1.55 | 215 |
| 2022-05-01 | $697,000 (32.8%) | $874,644 (22.6%) | 1.59 | 300 |
| 2022-06-01 | $675,000 (24.1%) | $833,583 (12.3%) | 1.50 | 427 |
| 2022-07-01 | $648,000 (11.8%) | $799,113 (-0.8%) | 1.47 | 586 |
| 2022-08-01 | $646,500 (7.8%) | $808,619 (-2.1%) | 1.49 | 625 |
| 2022-09-01 | $637,250 (4.0%) | $814,879 (-0.8%) | 1.49 | 603 |
| 2022-10-01 | $638,975 (6.5%) | $818,858 (1.5%) | 1.50 | 584 |
| 2022-11-01 | $630,500 (5.1%) | $826,388 (2.1%) | 1.52 | 541 |
| 2022-12-01 | $609,000 (1.6%) | $807,571 (-2.3%) | 1.52 | 469 |
Bellingham's median listing price comes in at 152% of the national average.
Bellingham's average listing price for 2022-12-01 was $807,571, a difference of $-18,879 (-2.3%) versus the prior year and $-18,817 versus the prior month.
For the 2022-12-01 period, Bellingham had 469 MLS listings, a difference of -72 listings (-13%) versus the prior month and 308 listings (191%) 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 | 91 days | 1,908 sqft |
| 2018-02-01 | 84 days | 1,929 sqft |
| 2018-03-01 | 52 days | 1,896 sqft |
| 2018-04-01 | 44 days | 1,902 sqft |
| 2018-05-01 | 40 days | 1,938 sqft |
| 2018-06-01 | 38 days | 1,960 sqft |
| 2018-07-01 | 44 days | 1,940 sqft |
| 2018-08-01 | 43 days | 1,834 sqft |
| 2018-09-01 | 52 days | 1,862 sqft |
| 2018-10-01 | 58 days | 1,948 sqft |
| 2018-11-01 | 63 days | 1,908 sqft |
| 2018-12-01 | 74 days | 1,847 sqft |
| 2019-01-01 | 78 days | 1,820 sqft |
| 2019-02-01 | 72 days | 1,901 sqft |
| 2019-03-01 | 61 days | 1,864 sqft |
| 2019-04-01 | 46 days | 1,810 sqft |
| 2019-05-01 | 43 days | 1,869 sqft |
| 2019-06-01 | 44 days | 1,920 sqft |
| 2019-07-01 | 47 days | 1,911 sqft |
| 2019-08-01 | 52 days | 1,899 sqft |
| 2019-09-01 | 56 days | 1,895 sqft |
| 2019-10-01 | 60 days | 1,893 sqft |
| 2019-11-01 | 68 days | 1,904 sqft |
| 2019-12-01 | 84 days | 1,836 sqft |
| 2020-01-01 | 100 days | 1,832 sqft |
| 2020-02-01 | 96 days | 1,818 sqft |
| 2020-03-01 | 45 days | 1,832 sqft |
| 2020-04-01 | 45 days | 1,779 sqft |
| 2020-05-01 | 57 days | 1,807 sqft |
| 2020-06-01 | 63 days | 1,813 sqft |
| 2020-07-01 | 52 days | 1,847 sqft |
| 2020-08-01 | 50 days | 1,837 sqft |
| 2020-09-01 | 49 days | 1,763 sqft |
| 2020-10-01 | 52 days | 1,782 sqft |
| 2020-11-01 | 66 days | 1,715 sqft |
| 2020-12-01 | 79 days | 1,626 sqft |
| 2021-01-01 | 93 days | 1,560 sqft |
| 2021-02-01 | 70 days | 1,581 sqft |
| 2021-03-01 | 46 days | 1,641 sqft |
| 2021-04-01 | 41 days | 1,629 sqft |
| 2021-05-01 | 33 days | 1,736 sqft |
| 2021-06-01 | 31 days | 1,772 sqft |
| 2021-07-01 | 34 days | 1,821 sqft |
| 2021-08-01 | 32 days | 1,869 sqft |
| 2021-09-01 | 36 days | 1,878 sqft |
| 2021-10-01 | 35 days | 1,875 sqft |
| 2021-11-01 | 39 days | 1,876 sqft |
| 2021-12-01 | 52 days | 1,837 sqft |
| 2022-01-01 | 50 days | 1,701 sqft |
| 2022-02-01 | 31 days | 1,939 sqft |
| 2022-03-01 | 25 days | 1,878 sqft |
| 2022-04-01 | 23 days | 1,867 sqft |
| 2022-05-01 | 23 days | 1,906 sqft |
| 2022-06-01 | 23 days | 1,852 sqft |
| 2022-07-01 | 28 days | 1,830 sqft |
| 2022-08-01 | 36 days | 1,872 sqft |
| 2022-09-01 | 44 days | 1,873 sqft |
| 2022-10-01 | 46 days | 1,904 sqft |
| 2022-11-01 | 58 days | 1,909 sqft |
| 2022-12-01 | 68 days | 1,875 sqft |
Bellingham's median square footage for active listings during the 2022-12-01 period was 1,875 sqft. One year prior, the average listing was 1,837 sqft.