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%.
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. LouisDate | 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 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. LouisDate | 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 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.