Kennewick USDA Loan Rates, Closing Costs & Stats

KENNEWICK-RICHLAND, 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.

Kennewick's 7 lenders originated 7 USDA loans during 2022. The total origination value was $2,285,000, with an average USDA loan value of $326,429.

Kennewick USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Kennewick averaged 6.43% for the week of 2024-02-16, compared to the national average (all USDA variants) of 6.685% for the same period.

Kennewick's average USDA mortgage closing costs are $6,629.

The average rate for the prior week (2024-02-09) was 6.17% and one month ago for the week of 2024-01-12, the average rate was 6.09%.

The average rate one year ago was 5.53%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.09%.

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

Kennewick 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 Kennewick level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
CORNERSTONE HOME LENDING, INC. 1 4.25% $11,749
ENVOY MORTGAGE, LTD 1 3.50% $9,154
LPMC, LLC 1 5.50% $8,941
NUMERICA CREDIT UNION 1 3.25% $8,167
SUMMIT FUNDING, INC. 1 4.88% $11,636
Sunflower Bank 1 4.25% $7,092
UNITED WHOLESALE MORTGAGE, LLC 1 3.47% $12,215

The top Kennewick USDA lender as defined by loan originations is CORNERSTONE HOME LENDING, INC., with 1 USDA loans originated. Their average total fees are $11,749, which is $2,594 higher than the next largest lender, ENVOY MORTGAGE, LTD.

The lowest fee Kennewick USDA lenders (with over 10 loans originated) are .

The lowest rate Kennewick USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Kennewick (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 $316,575 (6.6%) $339,630 (2.4%) 1.17 833
2018-02-01 $322,450 (1.6%) $344,325 (0.4%) 1.17 825
2018-03-01 $329,800 (1.5%) $354,695 (1.4%) 1.16 850
2018-04-01 $324,975 (0.0%) $353,587 (1.4%) 1.10 933
2018-05-01 $330,000 (0.3%) $356,641 (0.6%) 1.10 990
2018-06-01 $334,000 (0.5%) $356,504 (-1.9%) 1.11 745
2018-07-01 $330,750 (1.8%) $354,951 (0.4%) 1.10 1,075
2018-08-01 $322,450 (1.1%) $353,370 (0.9%) 1.08 1,134
2018-09-01 $318,230 (6.2%) $352,338 (7.1%) 1.07 1,159
2018-10-01 $318,615 (6.2%) $355,604 (8.4%) 1.08 1,147
2018-11-01 $316,525 (4.0%) $354,420 (7.2%) 1.07 1,066
2018-12-01 $320,000 (3.2%) $357,779 (6.9%) 1.10 947
2019-01-01 $320,000 (1.1%) $353,449 (4.1%) 1.11 884
2019-02-01 $322,335 (0.0%) $353,936 (2.8%) 1.09 823
2019-03-01 $338,923 (2.8%) $370,285 (4.4%) 1.11 665
2019-04-01 $357,725 (10.1%) $391,783 (10.8%) 1.14 519
2019-05-01 $349,979 (6.1%) $390,175 (9.4%) 1.09 539
2019-06-01 $359,000 (7.5%) $397,081 (11.4%) 1.12 543
2019-07-01 $364,225 (10.1%) $402,174 (13.3%) 1.14 583
2019-08-01 $362,018 (12.3%) $401,043 (13.5%) 1.15 631
2019-09-01 $352,389 (10.7%) $389,168 (10.5%) 1.13 692
2019-10-01 $345,970 (8.6%) $381,250 (7.2%) 1.12 712
2019-11-01 $350,000 (10.6%) $397,106 (12.0%) 1.15 682
2019-12-01 $351,900 (10.0%) $395,414 (10.5%) 1.17 631
2020-01-01 $359,675 (12.4%) $401,282 (13.5%) 1.20 576
2020-02-01 $373,415 (15.9%) $404,209 (14.2%) 1.22 497
2020-03-01 $384,925 (13.6%) $416,184 (12.4%) 1.21 498
2020-04-01 $397,400 (11.1%) $421,967 (7.7%) 1.24 498
2020-05-01 $409,950 (17.1%) $432,531 (10.9%) 1.25 475
2020-06-01 $402,500 (12.1%) $435,713 (9.7%) 1.19 486
2020-07-01 $414,288 (13.7%) $446,390 (11.0%) 1.20 502
2020-08-01 $409,000 (13.0%) $442,641 (10.4%) 1.17 469
2020-09-01 $399,900 (13.5%) $451,503 (16.0%) 1.15 465
2020-10-01 $399,900 (15.6%) $452,538 (18.7%) 1.15 469
2020-11-01 $402,725 (15.1%) $458,393 (15.4%) 1.18 416
2020-12-01 $418,400 (18.9%) $467,591 (18.3%) 1.24 347
2021-01-01 $418,825 (16.5%) $472,255 (17.7%) 1.25 313
2021-02-01 $427,450 (14.5%) $487,732 (20.7%) 1.24 280
2021-03-01 $440,925 (14.6%) $488,179 (17.3%) 1.25 234
2021-04-01 $443,975 (11.7%) $497,243 (17.8%) 1.20 203
2021-05-01 $460,000 (12.2%) $504,389 (16.6%) 1.22 200
2021-06-01 $477,723 (18.7%) $514,869 (18.2%) 1.26 205
2021-07-01 $472,500 (14.1%) $516,576 (15.7%) 1.25 243
2021-08-01 $506,213 (23.8%) $539,037 (21.8%) 1.35 293
2021-09-01 $499,450 (24.9%) $532,473 (17.9%) 1.33 356
2021-10-01 $512,875 (28.3%) $552,306 (22.1%) 1.37 389
2021-11-01 $526,938 (30.8%) $566,403 (23.6%) 1.41 416
2021-12-01 $531,913 (27.1%) $576,270 (23.2%) 1.44 392
2022-01-01 $551,400 (31.7%) $581,924 (23.2%) 1.49 338
2022-02-01 $534,940 (25.2%) $572,735 (17.4%) 1.39 305
2022-03-01 $542,188 (23.0%) $577,866 (18.4%) 1.36 309
2022-04-01 $525,000 (18.3%) $563,840 (13.4%) 1.25 328
2022-05-01 $530,150 (15.3%) $564,771 (12.0%) 1.21 355
2022-06-01 $537,000 (12.4%) $573,579 (11.4%) 1.20 409
2022-07-01 $525,000 (11.1%) $565,657 (9.5%) 1.18 540
2022-08-01 $525,000 (3.7%) $567,134 (5.2%) 1.21 571
2022-09-01 $539,700 (8.1%) $580,669 (9.1%) 1.26 547
2022-10-01 $549,900 (7.2%) $583,976 (5.7%) 1.29 641
2022-11-01 $546,000 (3.6%) $582,037 (2.8%) 1.31 674
2022-12-01 $549,900 (3.4%) $577,267 (0.2%) 1.36 613
2023-01-01 $551,950 (0.1%) $575,846 (-1.0%) 1.37 554
2023-02-01 $559,450 (4.6%) $580,836 (1.4%) 1.35 525
2023-03-01 $549,948 (1.4%) $584,334 (1.1%) 1.30 504
2023-04-01 $544,950 (3.8%) $590,356 (4.7%) 1.27 526
2023-05-01 $542,423 (2.3%) $600,010 (6.2%) 1.23 601
2023-06-01 $542,850 (1.1%) $595,611 (3.8%) 1.22 644
2023-07-01 $549,875 (4.7%) $608,595 (7.6%) 1.25 655
2023-08-01 $541,263 (3.1%) $610,331 (7.6%) 1.24 707
2023-09-01 $534,875 (-0.9%) $601,651 (3.6%) 1.25 751
2023-10-01 $517,500 (-5.9%) $589,543 (1.0%) 1.22 775
2023-11-01 $519,900 (-4.8%) $588,596 (1.1%) 1.24 795
2023-12-01 $517,900 (-5.8%) $582,290 (0.9%) 1.26 751
Kennewick's median listing price for 2023-12-01 was $517,900, a difference of $-32,000 (-5.8%) versus the prior year and $-2,000 versus the prior month.

Kennewick's median listing price comes in at 126% of the national average.

Kennewick's average listing price for 2023-12-01 was $582,290, a difference of $5,023 (0.9%) versus the prior year and $-6,306 versus the prior month.

For the 2023-12-01 period, Kennewick had 751 MLS listings, a difference of -44 listings (-6%) versus the prior month and 138 listings (23%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Kennewick (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 65 days 2,151 sqft
2018-02-01 51 days 2,171 sqft
2018-03-01 37 days 2,188 sqft
2018-04-01 33 days 2,159 sqft
2018-05-01 36 days 2,192 sqft
2018-06-01 36 days 2,200 sqft
2018-07-01 36 days 2,183 sqft
2018-08-01 38 days 2,137 sqft
2018-09-01 43 days 2,107 sqft
2018-10-01 46 days 2,121 sqft
2018-11-01 51 days 2,122 sqft
2018-12-01 61 days 2,118 sqft
2019-01-01 65 days 2,099 sqft
2019-02-01 61 days 2,062 sqft
2019-03-01 55 days 2,113 sqft
2019-04-01 47 days 2,173 sqft
2019-05-01 39 days 2,142 sqft
2019-06-01 37 days 2,181 sqft
2019-07-01 31 days 2,204 sqft
2019-08-01 34 days 2,214 sqft
2019-09-01 40 days 2,197 sqft
2019-10-01 46 days 2,185 sqft
2019-11-01 46 days 2,234 sqft
2019-12-01 53 days 2,161 sqft
2020-01-01 60 days 2,194 sqft
2020-02-01 56 days 2,200 sqft
2020-03-01 37 days 2,205 sqft
2020-04-01 42 days 2,239 sqft
2020-05-01 53 days 2,327 sqft
2020-06-01 44 days 2,305 sqft
2020-07-01 41 days 2,300 sqft
2020-08-01 37 days 2,270 sqft
2020-09-01 36 days 2,248 sqft
2020-10-01 36 days 2,202 sqft
2020-11-01 46 days 2,201 sqft
2020-12-01 61 days 2,193 sqft
2021-01-01 53 days 2,161 sqft
2021-02-01 42 days 2,144 sqft
2021-03-01 33 days 2,180 sqft
2021-04-01 33 days 2,174 sqft
2021-05-01 29 days 2,232 sqft
2021-06-01 28 days 2,236 sqft
2021-07-01 22 days 2,145 sqft
2021-08-01 23 days 2,213 sqft
2021-09-01 22 days 2,190 sqft
2021-10-01 33 days 2,179 sqft
2021-11-01 38 days 2,221 sqft
2021-12-01 52 days 2,220 sqft
2022-01-01 64 days 2,212 sqft
2022-02-01 49 days 2,176 sqft
2022-03-01 38 days 2,138 sqft
2022-04-01 33 days 2,184 sqft
2022-05-01 28 days 2,176 sqft
2022-06-01 27 days 2,222 sqft
2022-07-01 31 days 2,202 sqft
2022-08-01 37 days 2,223 sqft
2022-09-01 47 days 2,254 sqft
2022-10-01 44 days 2,200 sqft
2022-11-01 50 days 2,177 sqft
2022-12-01 68 days 2,146 sqft
2023-01-01 79 days 2,140 sqft
2023-02-01 83 days 2,167 sqft
2023-03-01 59 days 2,200 sqft
2023-04-01 53 days 2,167 sqft
2023-05-01 44 days 2,158 sqft
2023-06-01 45 days 2,137 sqft
2023-07-01 52 days 2,192 sqft
2023-08-01 46 days 2,194 sqft
2023-09-01 49 days 2,168 sqft
2023-10-01 53 days 2,133 sqft
2023-11-01 59 days 2,144 sqft
2023-12-01 68 days 2,092 sqft
Kennewick's median listing age (time on market) for 2023-12-01 was 68 days. This is 0% longer than the same period one year ago.

Kennewick's median square footage for active listings during the 2023-12-01 period was 2,092 sqft. One year prior, the average listing was 2,146 sqft.