Olympia USDA Loan Rates, Closing Costs & Stats

OLYMPIA-LACEY-TUMWATER, 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.

Olympia's 19 lenders originated 31 USDA loans during 2021. The total origination value was $11,175,000, with an average USDA loan value of $360,484.

Olympia USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Olympia averaged 6.08% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

Olympia's average USDA mortgage closing costs are $6,906.

The average rate for the prior week (2023-01-20) was 6.07% and one month ago for the week of 2022-12-23, the average rate was 6.4%.

The average rate one year ago was 3.65%.

For refis of the same type during the week of 2023-01-27, the average rate was 5.79%.

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

Olympia 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 Olympia level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 3.22% $8,963
First Home Bank 2 2.81% $7,823
AMERICAN PACIFIC MORTGAGE CORPORATION 2 2.50% $11,031
CALIBER HOME LOANS, INC. 1 2.50% $10,165
CROSSCOUNTRY MORTGAGE, LLC 1 2.63% $7,869
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 3.50% $10,061
Flagstar Bank, FSB 1 2.38% $6,981
GUARANTEED RATE, INC. 1 3.13% $8,673
HomeStreet Bank 1 3.13% $7,031
LENDUS, LLC 1 2.75% $7,737
MOVEMENT MORTGAGE, LLC 1 2.75% $3,837
PENNYMAC LOAN SERVICES, LLC 1 3.00% $4,468
PREMIER MORTGAGE RESOURCES, L.L.C. 1 2.75% $8,991
RESIDENTIAL MORTGAGE, LLC 1 2.38% $8,409
UNITED WHOLESALE MORTGAGE, LLC 1 2.25% $6,612
AMCAP MORTGAGE, LTD. 1 3.88% $7,892
Wells Fargo Bank 1 4.38% $4,412
AXIA FINANCIAL, LLC 1 2.75% $5,527
BAY EQUITY LLC 1 2.99% $9,513

The top Olympia USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 5 USDA loans originated. Their average total fees are $8,963, which is $1,140 higher than the next largest lender, First Home Bank.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Olympia (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 $350,623 (16.9%) $392,804 (11.9%) 1.30 376
2018-02-01 $359,974 (10.8%) $408,362 (11.7%) 1.31 370
2018-03-01 $355,000 (5.5%) $421,434 (13.4%) 1.25 366
2018-04-01 $371,250 (9.9%) $426,566 (11.2%) 1.26 409
2018-05-01 $386,500 (13.9%) $434,459 (9.5%) 1.29 482
2018-06-01 $379,950 (12.6%) $437,918 (10.3%) 1.27 572
2018-07-01 $372,493 (14.6%) $426,657 (9.3%) 1.24 623
2018-08-01 $374,990 (18.5%) $440,458 (15.4%) 1.26 694
2018-09-01 $375,000 (16.5%) $445,474 (14.8%) 1.26 715
2018-10-01 $379,925 (13.9%) $447,496 (13.3%) 1.28 687
2018-11-01 $387,475 (14.1%) $452,453 (14.9%) 1.31 609
2018-12-01 $389,000 (11.3%) $447,883 (15.2%) 1.34 571
2019-01-01 $387,448 (10.5%) $461,031 (17.4%) 1.34 494
2019-02-01 $390,858 (8.6%) $469,921 (15.1%) 1.32 446
2019-03-01 $402,849 (13.5%) $489,587 (16.2%) 1.32 445
2019-04-01 $419,995 (13.1%) $514,829 (20.7%) 1.33 451
2019-05-01 $403,236 (4.3%) $502,176 (15.6%) 1.26 487
2019-06-01 $399,900 (5.3%) $498,602 (13.9%) 1.25 532
2019-07-01 $401,925 (7.9%) $498,757 (16.9%) 1.26 553
2019-08-01 $399,655 (6.6%) $496,258 (12.7%) 1.27 564
2019-09-01 $399,286 (6.5%) $494,038 (10.9%) 1.28 588
2019-10-01 $399,000 (5.0%) $491,271 (9.8%) 1.29 603
2019-11-01 $397,000 (2.5%) $489,387 (8.2%) 1.30 555
2019-12-01 $396,625 (2.0%) $498,512 (11.3%) 1.32 404
2020-01-01 $404,475 (4.4%) $521,194 (13.1%) 1.35 325
2020-02-01 $389,425 (-0.4%) $495,222 (5.4%) 1.27 354
2020-03-01 $379,499 (-5.8%) $488,225 (-0.3%) 1.19 406
2020-04-01 $397,000 (-5.5%) $496,620 (-3.5%) 1.24 427
2020-05-01 $409,900 (1.7%) $511,917 (1.9%) 1.25 441
2020-06-01 $406,225 (1.6%) $514,133 (3.1%) 1.20 421
2020-07-01 $399,800 (-0.5%) $509,681 (2.2%) 1.16 422
2020-08-01 $405,000 (1.3%) $527,675 (6.3%) 1.16 408
2020-09-01 $417,500 (4.6%) $541,091 (9.5%) 1.20 390
2020-10-01 $414,950 (4.0%) $542,562 (10.4%) 1.19 376
2020-11-01 $449,950 (13.3%) $622,000 (27.1%) 1.31 198
2020-12-01 $439,969 (10.9%) $645,786 (29.5%) 1.31 176
2021-01-01 $463,000 (14.5%) $652,206 (25.1%) 1.38 159
2021-02-01 $449,500 (15.4%) $634,027 (28.0%) 1.31 143
2021-03-01 $434,350 (14.5%) $608,676 (24.7%) 1.23 170
2021-04-01 $447,463 (12.7%) $580,116 (16.8%) 1.21 187
2021-05-01 $460,000 (12.2%) $582,502 (13.8%) 1.22 227
2021-06-01 $478,873 (17.9%) $584,264 (13.6%) 1.26 239
2021-07-01 $470,000 (17.6%) $573,403 (12.5%) 1.24 258
2021-08-01 $485,875 (20.0%) $574,322 (8.8%) 1.30 302
2021-09-01 $496,950 (19.0%) $581,988 (7.6%) 1.33 292
2021-10-01 $490,000 (18.1%) $578,699 (6.7%) 1.31 295
2021-11-01 $492,450 (9.5%) $582,537 (-6.3%) 1.32 216
2021-12-01 $493,000 (12.1%) $591,708 (-8.4%) 1.34 178
2022-01-01 $489,975 (5.8%) $581,196 (-10.9%) 1.32 122
2022-02-01 $504,725 (12.3%) $606,532 (-4.3%) 1.31 128
2022-03-01 $499,725 (15.1%) $611,815 (0.5%) 1.25 133
2022-04-01 $519,950 (16.2%) $625,881 (7.9%) 1.24 180
2022-05-01 $549,225 (19.4%) $652,408 (12.0%) 1.26 276
2022-06-01 $548,700 (14.6%) $657,849 (12.6%) 1.22 391
2022-07-01 $549,000 (16.8%) $648,460 (13.1%) 1.24 525
2022-08-01 $548,436 (12.9%) $643,238 (12.0%) 1.27 566
2022-09-01 $542,495 (9.2%) $629,446 (8.2%) 1.27 534
2022-10-01 $549,975 (12.2%) $630,326 (8.9%) 1.29 515
2022-11-01 $536,575 (9.0%) $627,881 (7.8%) 1.29 506
2022-12-01 $543,888 (10.3%) $624,868 (5.6%) 1.36 464
Olympia's median listing price for 2022-12-01 was $543,888, a difference of $50,888 (10.3%) versus the prior year and $7,313 versus the prior month.

Olympia's median listing price comes in at 136% of the national average.

Olympia's average listing price for 2022-12-01 was $624,868, a difference of $33,160 (5.6%) versus the prior year and $-3,013 versus the prior month.

For the 2022-12-01 period, Olympia had 464 MLS listings, a difference of -42 listings (-8%) versus the prior month and 286 listings (161%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Olympia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 66 days 2,085 sqft
2018-02-01 46 days 2,113 sqft
2018-03-01 36 days 2,136 sqft
2018-04-01 33 days 2,173 sqft
2018-05-01 28 days 2,200 sqft
2018-06-01 33 days 2,215 sqft
2018-07-01 32 days 2,198 sqft
2018-08-01 35 days 2,205 sqft
2018-09-01 42 days 2,152 sqft
2018-10-01 44 days 2,167 sqft
2018-11-01 51 days 2,188 sqft
2018-12-01 64 days 2,175 sqft
2019-01-01 67 days 2,151 sqft
2019-02-01 63 days 2,163 sqft
2019-03-01 46 days 2,208 sqft
2019-04-01 32 days 2,258 sqft
2019-05-01 29 days 2,170 sqft
2019-06-01 31 days 2,160 sqft
2019-07-01 35 days 2,155 sqft
2019-08-01 39 days 2,096 sqft
2019-09-01 44 days 2,085 sqft
2019-10-01 48 days 2,056 sqft
2019-11-01 54 days 2,033 sqft
2019-12-01 56 days 2,010 sqft
2020-01-01 61 days 2,012 sqft
2020-02-01 35 days 1,972 sqft
2020-03-01 30 days 1,890 sqft
2020-04-01 36 days 1,923 sqft
2020-05-01 40 days 1,980 sqft
2020-06-01 37 days 2,020 sqft
2020-07-01 29 days 1,996 sqft
2020-08-01 30 days 2,006 sqft
2020-09-01 31 days 2,014 sqft
2020-10-01 35 days 1,942 sqft
2020-11-01 44 days 2,027 sqft
2020-12-01 44 days 1,943 sqft
2021-01-01 46 days 1,970 sqft
2021-02-01 37 days 1,900 sqft
2021-03-01 30 days 1,830 sqft
2021-04-01 32 days 1,836 sqft
2021-05-01 16 days 1,861 sqft
2021-06-01 16 days 1,927 sqft
2021-07-01 24 days 1,960 sqft
2021-08-01 19 days 2,023 sqft
2021-09-01 29 days 2,025 sqft
2021-10-01 29 days 1,905 sqft
2021-11-01 36 days 1,854 sqft
2021-12-01 38 days 1,905 sqft
2022-01-01 38 days 1,850 sqft
2022-02-01 20 days 1,905 sqft
2022-03-01 26 days 1,885 sqft
2022-04-01 16 days 1,946 sqft
2022-05-01 16 days 1,973 sqft
2022-06-01 17 days 2,031 sqft
2022-07-01 26 days 2,024 sqft
2022-08-01 35 days 2,022 sqft
2022-09-01 40 days 2,028 sqft
2022-10-01 44 days 2,055 sqft
2022-11-01 49 days 2,004 sqft
2022-12-01 61 days 2,002 sqft
Olympia's median listing age (time on market) for 2022-12-01 was 61 days. This is 59% longer than the same period one year ago.

Olympia's median square footage for active listings during the 2022-12-01 period was 2,002 sqft. One year prior, the average listing was 1,905 sqft.