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 6 lenders originated 8 USDA loans during 2021. The total origination value was $2,340,000, with an average USDA loan value of $292,500.

Kennewick USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Kennewick averaged 6.06% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

Kennewick's average USDA mortgage closing costs are $6,178.

The average rate for the prior week (2023-01-20) was 6.25% and one month ago for the week of 2022-12-23, the average rate was 6.18%.

The average rate one year ago was 4.03%.

For refis of the same type during the week of 2023-01-27, the average rate was 6%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
CHERRY CREEK MORTGAGE, LLC 2 3.25% $4,232
ENVOY MORTGAGE, LTD 1 2.88% $8,902
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 3.38% $7,720
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.75% $8,709
LPMC, LLC 1 2.75% $5,463
SUMMIT FUNDING, INC. 1 3.38% $6,993

The top Kennewick USDA lender as defined by loan originations is CHERRY CREEK MORTGAGE, LLC, with 2 USDA loans originated. Their average total fees are $4,232, which is $4,670 lower 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 1,160
2018-10-01 $318,450 (6.2%) $355,450 (8.3%) 1.08 1,148
2018-11-01 $316,425 (3.9%) $354,257 (7.1%) 1.07 1,067
2018-12-01 $320,000 (3.2%) $357,573 (6.9%) 1.10 948
2019-01-01 $320,000 (1.1%) $353,248 (4.0%) 1.10 885
2019-02-01 $322,105 (-0.1%) $353,720 (2.7%) 1.09 824
2019-03-01 $338,854 (2.8%) $369,978 (4.3%) 1.11 666
2019-04-01 $357,100 (9.9%) $391,369 (10.7%) 1.13 522
2019-05-01 $349,979 (6.1%) $389,747 (9.3%) 1.09 542
2019-06-01 $358,000 (7.2%) $396,335 (11.2%) 1.12 546
2019-07-01 $363,938 (10.0%) $401,429 (13.1%) 1.14 586
2019-08-01 $361,700 (12.2%) $400,569 (13.4%) 1.14 634
2019-09-01 $352,250 (10.7%) $389,097 (10.4%) 1.13 696
2019-10-01 $345,950 (8.6%) $381,450 (7.3%) 1.12 717
2019-11-01 $350,000 (10.6%) $397,249 (12.1%) 1.15 686
2019-12-01 $351,900 (10.0%) $396,234 (10.8%) 1.17 636
2020-01-01 $359,900 (12.5%) $402,151 (13.8%) 1.20 581
2020-02-01 $372,857 (15.8%) $405,199 (14.6%) 1.22 502
2020-03-01 $384,675 (13.5%) $417,051 (12.7%) 1.20 503
2020-04-01 $397,400 (11.3%) $422,394 (7.9%) 1.24 502
2020-05-01 $409,450 (17.0%) $432,889 (11.1%) 1.24 479
2020-06-01 $402,475 (12.4%) $436,045 (10.0%) 1.18 490
2020-07-01 $413,625 (13.7%) $446,625 (11.3%) 1.20 506
2020-08-01 $405,000 (12.0%) $442,921 (10.6%) 1.16 473
2020-09-01 $399,900 (13.5%) $451,737 (16.1%) 1.15 469
2020-10-01 $399,900 (15.6%) $452,747 (18.7%) 1.15 473
2020-11-01 $401,875 (14.8%) $458,567 (15.4%) 1.17 420
2020-12-01 $417,448 (18.6%) $467,695 (18.0%) 1.24 351
2021-01-01 $418,100 (16.2%) $472,312 (17.5%) 1.25 317
2021-02-01 $427,296 (14.6%) $487,597 (20.3%) 1.24 284
2021-03-01 $438,250 (13.9%) $488,032 (17.0%) 1.24 238
2021-04-01 $443,450 (11.6%) $496,941 (17.7%) 1.20 207
2021-05-01 $459,900 (12.3%) $504,003 (16.4%) 1.22 204
2021-06-01 $475,475 (18.1%) $514,312 (18.0%) 1.25 209
2021-07-01 $469,950 (13.6%) $516,065 (15.6%) 1.24 247
2021-08-01 $504,725 (24.6%) $538,770 (21.6%) 1.35 297
2021-09-01 $499,450 (24.9%) $532,806 (18.0%) 1.33 360
2021-10-01 $510,850 (27.7%) $551,628 (21.8%) 1.36 393
2021-11-01 $525,425 (30.7%) $565,431 (23.3%) 1.40 420
2021-12-01 $530,488 (27.1%) $575,418 (23.0%) 1.44 396
2022-01-01 $549,900 (31.5%) $580,841 (23.0%) 1.49 342
2022-02-01 $532,315 (24.6%) $571,835 (17.3%) 1.38 309
2022-03-01 $537,925 (22.7%) $576,792 (18.2%) 1.35 313
2022-04-01 $520,000 (17.3%) $562,965 (13.3%) 1.24 332
2022-05-01 $528,713 (15.0%) $563,955 (11.9%) 1.21 359
2022-06-01 $535,975 (12.7%) $572,890 (11.4%) 1.19 413
2022-07-01 $525,000 (11.7%) $565,017 (9.5%) 1.19 545
2022-08-01 $525,000 (4.0%) $566,485 (5.1%) 1.21 577
2022-09-01 $538,250 (7.8%) $579,697 (8.8%) 1.26 552
2022-10-01 $549,000 (7.5%) $583,027 (5.7%) 1.29 646
2022-11-01 $544,900 (3.7%) $581,133 (2.8%) 1.31 679
2022-12-01 $549,900 (3.7%) $576,804 (0.2%) 1.37 618
Kennewick's median listing price for 2022-12-01 was $549,900, a difference of $19,412 (3.7%) versus the prior year and $5,000 versus the prior month.

Kennewick's median listing price comes in at 137% of the national average.

Kennewick's average listing price for 2022-12-01 was $576,804, a difference of $1,386 (0.2%) versus the prior year and $-4,329 versus the prior month.

For the 2022-12-01 period, Kennewick had 618 MLS listings, a difference of -61 listings (-9%) versus the prior month and 222 listings (56%) 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 66 days 2,149 sqft
2018-02-01 54 days 2,171 sqft
2018-03-01 38 days 2,188 sqft
2018-04-01 34 days 2,159 sqft
2018-05-01 37 days 2,192 sqft
2018-06-01 36 days 2,200 sqft
2018-07-01 37 days 2,183 sqft
2018-08-01 39 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 63 days 2,118 sqft
2019-01-01 66 days 2,099 sqft
2019-02-01 63 days 2,062 sqft
2019-03-01 59 days 2,113 sqft
2019-04-01 48 days 2,171 sqft
2019-05-01 40 days 2,143 sqft
2019-06-01 38 days 2,181 sqft
2019-07-01 32 days 2,204 sqft
2019-08-01 35 days 2,214 sqft
2019-09-01 41 days 2,197 sqft
2019-10-01 47 days 2,185 sqft
2019-11-01 47 days 2,234 sqft
2019-12-01 54 days 2,165 sqft
2020-01-01 62 days 2,201 sqft
2020-02-01 58 days 2,200 sqft
2020-03-01 38 days 2,208 sqft
2020-04-01 43 days 2,240 sqft
2020-05-01 55 days 2,330 sqft
2020-06-01 45 days 2,307 sqft
2020-07-01 42 days 2,300 sqft
2020-08-01 40 days 2,275 sqft
2020-09-01 37 days 2,249 sqft
2020-10-01 37 days 2,202 sqft
2020-11-01 47 days 2,202 sqft
2020-12-01 62 days 2,197 sqft
2021-01-01 57 days 2,162 sqft
2021-02-01 46 days 2,146 sqft
2021-03-01 34 days 2,183 sqft
2021-04-01 35 days 2,179 sqft
2021-05-01 31 days 2,232 sqft
2021-06-01 29 days 2,238 sqft
2021-07-01 23 days 2,150 sqft
2021-08-01 24 days 2,228 sqft
2021-09-01 23 days 2,195 sqft
2021-10-01 35 days 2,179 sqft
2021-11-01 38 days 2,222 sqft
2021-12-01 52 days 2,220 sqft
2022-01-01 64 days 2,214 sqft
2022-02-01 51 days 2,180 sqft
2022-03-01 39 days 2,144 sqft
2022-04-01 34 days 2,184 sqft
2022-05-01 29 days 2,179 sqft
2022-06-01 28 days 2,222 sqft
2022-07-01 32 days 2,204 sqft
2022-08-01 38 days 2,225 sqft
2022-09-01 50 days 2,254 sqft
2022-10-01 44 days 2,200 sqft
2022-11-01 52 days 2,178 sqft
2022-12-01 69 days 2,146 sqft
Kennewick's median listing age (time on market) for 2022-12-01 was 69 days. This is 33% longer than the same period one year ago.

Kennewick's median square footage for active listings during the 2022-12-01 period was 2,146 sqft. One year prior, the average listing was 2,220 sqft.