Olympia USDA Loans

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 5.4% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

The average rate for the prior week (2022-05-13) was 5.28% and one month ago for the week of 2022-04-15, the average rate was 5.08%.

The average rate one year ago was 3.12%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.01%.

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 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. Total Fees
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 $352,490 (15.2%) $397,155 (11.0%) 1.30 380
2018-02-01 $362,473 (11.5%) $413,094 (12.5%) 1.31 373
2018-03-01 $354,900 (5.0%) $424,515 (13.2%) 1.23 374
2018-04-01 $371,195 (9.3%) $427,354 (11.1%) 1.25 413
2018-05-01 $386,975 (14.0%) $436,348 (9.3%) 1.29 487
2018-06-01 $379,900 (12.4%) $437,965 (9.4%) 1.27 572
2018-07-01 $371,475 (12.7%) $425,270 (8.0%) 1.24 625
2018-08-01 $374,990 (17.2%) $442,185 (14.4%) 1.25 689
2018-09-01 $375,000 (15.7%) $444,639 (13.8%) 1.25 707
2018-10-01 $379,725 (13.0%) $448,238 (12.8%) 1.27 674
2018-11-01 $386,475 (13.3%) $451,822 (13.4%) 1.30 602
2018-12-01 $385,950 (10.3%) $455,773 (16.3%) 1.32 565
2019-01-01 $387,475 (9.9%) $460,083 (15.8%) 1.34 491
2019-02-01 $391,993 (8.1%) $471,048 (14.0%) 1.31 434
2019-03-01 $404,736 (14.0%) $493,073 (16.2%) 1.32 431
2019-04-01 $424,725 (14.4%) $522,635 (22.3%) 1.34 428
2019-05-01 $407,500 (5.3%) $505,285 (15.8%) 1.26 463
2019-06-01 $399,900 (5.3%) $499,215 (14.0%) 1.23 512
2019-07-01 $399,500 (7.5%) $497,681 (17.0%) 1.24 529
2019-08-01 $399,214 (6.5%) $496,680 (12.3%) 1.26 530
2019-09-01 $399,464 (6.5%) $496,874 (11.8%) 1.27 527
2019-10-01 $399,000 (5.1%) $491,788 (9.7%) 1.27 596
2019-11-01 $399,000 (3.2%) $490,584 (8.6%) 1.29 527
2019-12-01 $399,945 (3.6%) $504,432 (10.7%) 1.33 389
2020-01-01 $418,950 (8.1%) $530,758 (15.4%) 1.40 308
2020-02-01 $389,900 (-0.5%) $497,004 (5.5%) 1.26 336
2020-03-01 $384,950 (-4.9%) $492,286 (-0.2%) 1.20 389
2020-04-01 $399,900 (-5.8%) $499,571 (-4.4%) 1.25 408
2020-05-01 $419,900 (3.0%) $515,687 (2.1%) 1.27 422
2020-06-01 $412,450 (3.1%) $516,316 (3.4%) 1.20 397
2020-07-01 $399,925 (0.1%) $512,187 (2.9%) 1.15 401
2020-08-01 $405,000 (1.5%) $532,337 (7.2%) 1.16 394
2020-09-01 $422,950 (5.9%) $545,503 (9.8%) 1.21 368
2020-10-01 $419,900 (5.2%) $550,103 (11.9%) 1.20 363
2020-11-01 $450,000 (12.8%) $624,166 (27.2%) 1.29 190
2020-12-01 $444,000 (11.0%) $650,242 (28.9%) 1.30 171
2021-01-01 $475,000 (13.4%) $665,594 (25.4%) 1.40 147
2021-02-01 $459,700 (17.9%) $651,745 (31.1%) 1.32 133
2021-03-01 $442,450 (14.9%) $614,473 (24.8%) 1.24 159
2021-04-01 $449,450 (12.4%) $584,685 (17.0%) 1.21 173
2021-05-01 $468,950 (11.7%) $584,065 (13.3%) 1.23 209
2021-06-01 $482,425 (17.0%) $586,682 (13.6%) 1.25 228
2021-07-01 $470,500 (17.7%) $570,851 (11.5%) 1.22 243
2021-08-01 $487,000 (20.3%) $574,082 (7.8%) 1.28 290
2021-09-01 $498,700 (17.9%) $581,160 (6.5%) 1.31 283
2021-10-01 $490,000 (16.7%) $577,979 (5.1%) 1.29 281
2021-11-01 $495,000 (10.0%) $585,482 (-6.2%) 1.30 213
2021-12-01 $499,250 (12.4%) $596,295 (-8.3%) 1.33 173
2022-01-01 $499,500 (5.2%) $592,539 (-11.0%) 1.33 118
2022-02-01 $500,000 (8.8%) $604,769 (-7.2%) 1.27 119
2022-03-01 $499,950 (13.0%) $624,364 (1.6%) 1.23 121
2022-04-01 $520,000 (15.7%) $634,244 (8.5%) 1.22 164
Olympia's median listing price for 2022-04-01 was $520,000, a difference of $70,550 (15.7%) versus the prior year and $20,050 versus the prior month.

Olympia's median listing price comes in at 122% of the national average.

Olympia's average listing price for 2022-04-01 was $634,244, a difference of $49,559 (8.5%) versus the prior year and $9,880 versus the prior month.

For the 2022-04-01 period, Olympia had 164 MLS listings, a difference of 43 listings (36%) versus the prior month and -9 listings (-5%) 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 65 days 2,115 sqft
2018-02-01 45 days 2,129 sqft
2018-03-01 36 days 2,140 sqft
2018-04-01 35 days 2,173 sqft
2018-05-01 30 days 2,201 sqft
2018-06-01 35 days 2,220 sqft
2018-07-01 34 days 2,194 sqft
2018-08-01 35 days 2,209 sqft
2018-09-01 42 days 2,157 sqft
2018-10-01 44 days 2,180 sqft
2018-11-01 49 days 2,195 sqft
2018-12-01 59 days 2,191 sqft
2019-01-01 66 days 2,156 sqft
2019-02-01 64 days 2,164 sqft
2019-03-01 43 days 2,230 sqft
2019-04-01 30 days 2,295 sqft
2019-05-01 33 days 2,190 sqft
2019-06-01 31 days 2,163 sqft
2019-07-01 36 days 2,180 sqft
2019-08-01 37 days 2,098 sqft
2019-09-01 40 days 2,079 sqft
2019-10-01 48 days 2,043 sqft
2019-11-01 55 days 2,035 sqft
2019-12-01 58 days 2,049 sqft
2020-01-01 64 days 2,053 sqft
2020-02-01 41 days 1,980 sqft
2020-03-01 33 days 1,906 sqft
2020-04-01 36 days 1,977 sqft
2020-05-01 42 days 2,003 sqft
2020-06-01 39 days 2,023 sqft
2020-07-01 33 days 1,999 sqft
2020-08-01 32 days 2,020 sqft
2020-09-01 33 days 2,034 sqft
2020-10-01 35 days 1,964 sqft
2020-11-01 46 days 2,038 sqft
2020-12-01 46 days 1,963 sqft
2021-01-01 51 days 1,980 sqft
2021-02-01 44 days 1,926 sqft
2021-03-01 35 days 1,829 sqft
2021-04-01 32 days 1,847 sqft
2021-05-01 29 days 1,886 sqft
2021-06-01 24 days 1,930 sqft
2021-07-01 28 days 2,007 sqft
2021-08-01 24 days 2,045 sqft
2021-09-01 31 days 2,041 sqft
2021-10-01 32 days 1,916 sqft
2021-11-01 37 days 1,846 sqft
2021-12-01 39 days 1,906 sqft
2022-01-01 41 days 1,920 sqft
2022-02-01 24 days 1,903 sqft
2022-03-01 29 days 1,900 sqft
2022-04-01 22 days 1,942 sqft
Olympia's median listing age (time on market) for 2022-04-01 was 22 days. This is -30% shorter than the same period one year ago.

Olympia's median square footage for active listings during the 2022-04-01 period was 1,942 sqft. One year prior, the average listing was 1,847 sqft.