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%.

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/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 for 2022-12-01 was $609,000, a difference of $9,550 (1.6%) versus the prior year and $-21,500 versus the prior month.

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 listing age (time on market) for 2022-12-01 was 68 days. This is 32% longer than the same period one year ago.

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.