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%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

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 for 2022-04-01 was $649,950, a difference of $150,500 (30.1%) versus the prior year and $200 versus the prior month.

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 listing age (time on market) for 2022-04-01 was 23 days. This is -48% shorter than the same period one year ago.

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.