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%.
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 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 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.