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 6 lenders originated 7 USDA loans during 2022. The total origination value was $2,625,000, with an average USDA loan value of $375,000.

Olympia USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Olympia averaged -0.59% for the week of 2023-06-02, compared to the national average (all USDA variants) of 0% for the same period.

Olympia's average USDA mortgage closing costs are $7,035.

The average rate for the prior week (2023-05-26) was 6.35% and one month ago for the week of 2023-04-28, the average rate was 6.23%.

The average rate one year ago was 4.79%.

For refis of the same type during the week of 2023-06-02, the average rate was -1.47%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 2 5.00% $9,195
CALIBER HOME LOANS, INC. 1 6.75% $10,816
Flagstar Bank, FSB 1 5.88% $12,169
HOME POINT FINANCIAL CORPORATION 1 3.00% $7,119
Paramount Residential Mortgage Group, Inc. 1 4.38% $13,528
Willamette Valley Bank 1 3.25% $7,680

The top Olympia USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 2 USDA loans originated. Their average total fees are $9,195, which is $1,621 lower than the next largest lender, CALIBER HOME LOANS, INC..

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%) 1.29 687
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%) $514,402 (20.6%) 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%) 1.28 354
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%) 1.32 198
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%) $585,324 (17.9%) 1.21 187
2021-05-01 $462,500 (12.8%) $592,604 (15.8%) 1.23 228
2021-06-01 $479,495 (18.0%) $591,387 (15.0%) 1.26 240
2021-07-01 $470,000 (17.6%) $580,832 (14.0%) 1.24 259
2021-08-01 $487,250 (20.3%) $580,804 (10.1%) 1.30 303
2021-09-01 $497,000 (19.0%) $588,718 (8.8%) 1.33 293
2021-10-01 $490,000 (18.1%) $585,659 (7.9%) 1.31 296
2021-11-01 $492,450 (9.5%) $591,108 (-5.0%) 1.32 217
2021-12-01 $493,500 (12.2%) $601,189 (-6.9%) 1.34 179
2022-01-01 $489,999 (5.8%) $595,582 (-8.7%) 1.32 123
2022-02-01 $506,988 (12.8%) $621,090 (-2.0%) 1.32 129
2022-03-01 $499,950 (15.1%) $624,510 (2.6%) 1.25 134
2022-04-01 $519,990 (16.2%) $634,480 (8.4%) 1.24 181
2022-05-01 $549,575 (18.8%) $660,430 (11.5%) 1.26 277
2022-06-01 $548,700 (14.4%) $664,153 (12.3%) 1.22 392
2022-07-01 $549,000 (16.8%) $648,460 (11.6%) 1.24 525
2022-08-01 $548,425 (12.6%) $643,111 (10.7%) 1.27 566
2022-09-01 $542,495 (9.2%) $629,446 (6.9%) 1.27 534
2022-10-01 $549,975 (12.2%) $630,326 (7.6%) 1.29 515
2022-11-01 $536,575 (9.0%) $627,881 (6.2%) 1.29 506
2022-12-01 $545,000 (10.4%) $627,715 (4.4%) 1.35 460
2023-01-01 $548,500 (11.9%) $682,794 (14.6%) 1.36 378
2023-02-01 $537,485 (6.0%) $684,838 (10.3%) 1.30 298
2023-03-01 $535,738 (7.2%) $696,836 (11.6%) 1.26 264
2023-04-01 $554,990 (6.7%) $726,605 (14.5%) 1.29 240
2023-05-01 $569,900 (3.7%) $728,612 (10.3%) 1.29 283
Olympia's median listing price for 2023-05-01 was $569,900, a difference of $20,325 (3.7%) versus the prior year and $14,910 versus the prior month.

Olympia's median listing price comes in at 129% of the national average.

Olympia's average listing price for 2023-05-01 was $728,612, a difference of $68,182 (10.3%) versus the prior year and $2,007 versus the prior month.

For the 2023-05-01 period, Olympia had 283 MLS listings, a difference of 43 listings (18%) versus the prior month and 6 listings (2%) 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 60 days 2,085 sqft
2018-02-01 38 days 2,115 sqft
2018-03-01 33 days 2,137 sqft
2018-04-01 30 days 2,179 sqft
2018-05-01 26 days 2,200 sqft
2018-06-01 32 days 2,221 sqft
2018-07-01 31 days 2,199 sqft
2018-08-01 34 days 2,205 sqft
2018-09-01 39 days 2,152 sqft
2018-10-01 43 days 2,170 sqft
2018-11-01 50 days 2,189 sqft
2018-12-01 61 days 2,175 sqft
2019-01-01 65 days 2,151 sqft
2019-02-01 62 days 2,163 sqft
2019-03-01 41 days 2,209 sqft
2019-04-01 30 days 2,259 sqft
2019-05-01 27 days 2,171 sqft
2019-06-01 31 days 2,160 sqft
2019-07-01 34 days 2,155 sqft
2019-08-01 38 days 2,096 sqft
2019-09-01 42 days 2,085 sqft
2019-10-01 45 days 2,056 sqft
2019-11-01 51 days 2,033 sqft
2019-12-01 51 days 2,010 sqft
2020-01-01 51 days 2,012 sqft
2020-02-01 30 days 1,972 sqft
2020-03-01 26 days 1,890 sqft
2020-04-01 33 days 1,923 sqft
2020-05-01 36 days 1,980 sqft
2020-06-01 32 days 2,017 sqft
2020-07-01 24 days 1,992 sqft
2020-08-01 25 days 2,003 sqft
2020-09-01 28 days 2,014 sqft
2020-10-01 31 days 1,948 sqft
2020-11-01 39 days 2,027 sqft
2020-12-01 39 days 1,943 sqft
2021-01-01 37 days 1,960 sqft
2021-02-01 29 days 1,900 sqft
2021-03-01 23 days 1,830 sqft
2021-04-01 25 days 1,836 sqft
2021-05-01 12 days 1,862 sqft
2021-06-01 15 days 1,937 sqft
2021-07-01 25 days 1,960 sqft
2021-08-01 19 days 2,029 sqft
2021-09-01 29 days 2,027 sqft
2021-10-01 29 days 1,908 sqft
2021-11-01 36 days 1,855 sqft
2021-12-01 38 days 1,914 sqft
2022-01-01 38 days 1,855 sqft
2022-02-01 19 days 1,907 sqft
2022-03-01 26 days 1,888 sqft
2022-04-01 16 days 1,950 sqft
2022-05-01 16 days 1,978 sqft
2022-06-01 17 days 2,035 sqft
2022-07-01 26 days 2,024 sqft
2022-08-01 35 days 2,022 sqft
2022-09-01 39 days 2,028 sqft
2022-10-01 44 days 2,051 sqft
2022-11-01 49 days 2,002 sqft
2022-12-01 60 days 2,000 sqft
2023-01-01 69 days 2,052 sqft
2023-02-01 69 days 2,029 sqft
2023-03-01 49 days 2,126 sqft
2023-04-01 33 days 2,158 sqft
2023-05-01 30 days 2,137 sqft
Olympia's median listing age (time on market) for 2023-05-01 was 30 days. This is 84% longer than the same period one year ago.

Olympia's median square footage for active listings during the 2023-05-01 period was 2,137 sqft. One year prior, the average listing was 1,978 sqft.