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%.
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. LouisDate | 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 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. LouisDate | 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 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.