Seattle USDA Loans

SEATTLE-BELLEVUE-KENT, 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.

Seattle's 33 lenders originated 193 USDA loans during 2021. The total origination value was $93,065,000, with an average USDA loan value of $482,202.

Seattle USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Seattle averaged 4.36% for the week of 2022-03-25, compared to the national average (all USDA variants) of 4.554% for the same period.

The average rate for the prior week (2022-03-18) was 4.49% and one month ago for the week of 2022-02-18, the average rate was 3.99%.

The average rate one year ago was 3.39%.

For refis of the same type during the week of 2022-03-25, the average rate was 4.21%.

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

Seattle 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 Seattle level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
LOANDEPOT.COM, LLC 33 3.17% $9,231
AMERICAN PACIFIC MORTGAGE CORPORATION 21 2.81% $10,046
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 15 3.06% $11,978
PREMIER MORTGAGE RESOURCES, L.L.C. 7 3.00% $9,316
CALIBER HOME LOANS, INC. 6 2.67% $10,111
CROSSCOUNTRY MORTGAGE, LLC 5 3.12% $11,059
LEADERONE FINANCIAL CORPORATION 4 2.81% $7,569
GUILD MORTGAGE COMPANY 4 2.84% $7,939
NEWREZ LLC 4 2.69% $6,303
HOME POINT FINANCIAL CORPORATION 3 2.58% $9,663
PENNYMAC LOAN SERVICES, LLC 3 2.79% $6,396
Victorian Finance, LLC 3 2.75% $8,149
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.00% $10,775
CORNERSTONE HOME LENDING, INC. 3 2.96% $9,839
1st Security Bank of Washington 2 2.75% $9,239
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 2.69% $9,945
GENEVA FINANCIAL, LLC 2 3.25% $9,531
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.06% $9,059
TOP FLITE FINANCIAL, INC. 2 2.75% $8,848
UNITED WHOLESALE MORTGAGE, LLC 2 2.81% $12,305
INTERCAP LENDING INC. 1 3.13% $9,213
First Home Bank 1 2.88% $8,511
EAGLE HOME MORTGAGE, LLC 1 2.63% $7,411
MORTGAGE MASTER SERVICE CORPORATION 1 2.75% $4,834
MOVEMENT MORTGAGE, LLC 1 2.75% $13,785
DAS Acquisition Company, LLC 1 2.50% $4,931
CITYWIDE HOME LOANS, LLC 1 3.38% $16,085
Carrington Mortgage Services, LLC 1 2.63% $13,902
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.25% $11,218
AMERICAN FINANCIAL NETWORK, INC. 1 3.00% $12,576
Wallick & Volk, Inc. 1 3.00% $9,152
GUARANTEED RATE, INC. 1 2.88% $8,803
HomeStreet Bank 1 3.00% $9,422

The top Seattle USDA lender as defined by loan originations is LOANDEPOT.COM, LLC, with 33 USDA loans originated. Their average total fees are $9,231, which is $815 lower than the next largest lender, AMERICAN PACIFIC MORTGAGE CORPORATION.

The lowest fee Seattle USDA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC ($9,231), AMERICAN PACIFIC MORTGAGE CORPORATION ($10,046), EVERGREEN MONEYSOURCE MORTGAGE COMPANY ($11,978), .

The lowest rate Seattle USDA lenders (with over 10 loans originated) are AMERICAN PACIFIC MORTGAGE CORPORATION (2.81%), EVERGREEN MONEYSOURCE MORTGAGE COMPANY (3.06%), LOANDEPOT.COM, LLC (3.17%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Seattle (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 $497,000 (13.6%) $822,806 (17.7%) 1.83 3,020
2018-02-01 $522,475 (13.7%) $842,187 (14.4%) 1.88 3,062
2018-03-01 $550,000 (14.1%) $861,145 (13.7%) 1.90 3,428
2018-04-01 $567,444 (14.6%) $865,153 (11.0%) 1.90 4,068
2018-05-01 $574,975 (15.1%) $862,623 (10.4%) 1.92 4,958
2018-06-01 $579,000 (15.8%) $863,030 (11.3%) 1.93 6,145
2018-07-01 $568,500 (13.7%) $825,908 (7.5%) 1.90 7,521
2018-08-01 $554,500 (13.7%) $795,811 (6.5%) 1.85 8,487
2018-09-01 $549,950 (12.3%) $780,888 (3.8%) 1.84 9,587
2018-10-01 $557,000 (12.5%) $781,507 (2.3%) 1.86 9,775
2018-11-01 $550,000 (11.1%) $779,804 (0.1%) 1.84 8,712
2018-12-01 $550,000 (11.1%) $785,745 (-1.0%) 1.88 7,151
2019-01-01 $563,900 (13.5%) $820,055 (-0.3%) 1.94 5,745
2019-02-01 $590,973 (13.1%) $858,699 (2.0%) 1.98 5,588
2019-03-01 $606,491 (10.3%) $876,525 (1.8%) 1.98 5,783
2019-04-01 $627,940 (10.7%) $905,243 (4.6%) 1.98 6,068
2019-05-01 $629,500 (9.5%) $890,540 (3.2%) 1.94 7,174
2019-06-01 $619,000 (6.9%) $866,498 (0.4%) 1.91 7,936
2019-07-01 $604,944 (6.4%) $857,001 (3.8%) 1.88 7,913
2019-08-01 $595,664 (7.4%) $844,070 (6.1%) 1.87 8,033
2019-09-01 $589,475 (7.2%) $836,162 (7.1%) 1.87 7,780
2019-10-01 $587,475 (5.5%) $832,696 (6.6%) 1.87 8,529
2019-11-01 $580,000 (5.5%) $836,584 (7.3%) 1.87 6,789
2019-12-01 $582,000 (5.8%) $850,252 (8.2%) 1.94 4,885
2020-01-01 $592,495 (5.1%) $874,162 (6.6%) 1.98 3,956
2020-02-01 $599,950 (1.5%) $894,876 (4.2%) 1.94 3,784
2020-03-01 $614,975 (1.4%) $891,020 (1.7%) 1.92 4,293
2020-04-01 $599,973 (-4.5%) $852,009 (-5.9%) 1.87 4,963
2020-05-01 $610,000 (-3.1%) $864,824 (-2.9%) 1.85 5,630
2020-06-01 $624,950 (1.0%) $893,090 (3.1%) 1.82 5,742
2020-07-01 $629,475 (4.1%) $901,753 (5.2%) 1.80 5,734
2020-08-01 $625,000 (4.9%) $890,881 (5.6%) 1.79 5,956
2020-09-01 $626,995 (6.4%) $892,935 (6.8%) 1.79 6,049
2020-10-01 $624,950 (6.4%) $896,079 (7.6%) 1.79 5,832
2020-11-01 $629,450 (8.5%) $926,930 (10.8%) 1.80 4,159
2020-12-01 $627,450 (7.8%) $933,443 (9.8%) 1.84 3,145
2021-01-01 $639,990 (8.0%) $966,939 (10.6%) 1.88 2,413
2021-02-01 $647,500 (7.9%) $960,673 (7.4%) 1.86 2,240
2021-03-01 $649,500 (5.6%) $929,283 (4.3%) 1.82 2,547
2021-04-01 $669,475 (11.6%) $942,142 (10.6%) 1.80 2,749
2021-05-01 $679,900 (11.5%) $954,508 (10.4%) 1.79 2,899
2021-06-01 $686,830 (9.9%) $951,254 (6.5%) 1.78 3,378
2021-07-01 $692,000 (9.9%) $955,871 (6.0%) 1.80 3,523
2021-08-01 $675,000 (8.0%) $915,715 (2.8%) 1.77 3,738
2021-09-01 $677,450 (8.1%) $928,676 (4.0%) 1.78 3,724
2021-10-01 $679,950 (8.8%) $950,349 (6.1%) 1.79 3,306
2021-11-01 $676,000 (7.4%) $957,793 (3.3%) 1.78 2,498
2021-12-01 $670,000 (6.8%) $946,708 (1.4%) 1.79 1,660
2022-01-01 $695,000 (8.6%) $1,018,070 (5.3%) 1.85 1,296
Seattle's median listing price for 2022-01-01 was $695,000, a difference of $55,010 (8.6%) versus the prior year and $25,000 versus the prior month.

Seattle's median listing price comes in at 185% of the national average.

Seattle's average listing price for 2022-01-01 was $1,018,070, a difference of $51,131 (5.3%) versus the prior year and $71,362 versus the prior month.

For the 2022-01-01 period, Seattle had 1,296 MLS listings, a difference of -364 listings (-22%) versus the prior month and -1,117 listings (-46%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Seattle (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 45 days 2,180 sqft
2018-02-01 27 days 2,173 sqft
2018-03-01 22 days 2,184 sqft
2018-04-01 23 days 2,160 sqft
2018-05-01 21 days 2,184 sqft
2018-06-01 23 days 2,170 sqft
2018-07-01 29 days 2,133 sqft
2018-08-01 31 days 2,098 sqft
2018-09-01 36 days 2,040 sqft
2018-10-01 38 days 2,029 sqft
2018-11-01 45 days 2,014 sqft
2018-12-01 59 days 2,024 sqft
2019-01-01 64 days 2,070 sqft
2019-02-01 44 days 2,119 sqft
2019-03-01 37 days 2,132 sqft
2019-04-01 28 days 2,164 sqft
2019-05-01 30 days 2,125 sqft
2019-06-01 33 days 2,110 sqft
2019-07-01 38 days 2,108 sqft
2019-08-01 41 days 2,069 sqft
2019-09-01 43 days 2,048 sqft
2019-10-01 43 days 2,045 sqft
2019-11-01 49 days 2,020 sqft
2019-12-01 63 days 2,037 sqft
2020-01-01 67 days 2,050 sqft
2020-02-01 38 days 2,075 sqft
2020-03-01 30 days 2,080 sqft
2020-04-01 32 days 2,067 sqft
2020-05-01 36 days 2,054 sqft
2020-06-01 35 days 2,038 sqft
2020-07-01 35 days 2,012 sqft
2020-08-01 32 days 1,920 sqft
2020-09-01 35 days 1,841 sqft
2020-10-01 35 days 1,780 sqft
2020-11-01 43 days 1,709 sqft
2020-12-01 50 days 1,685 sqft
2021-01-01 52 days 1,640 sqft
2021-02-01 35 days 1,661 sqft
2021-03-01 31 days 1,734 sqft
2021-04-01 28 days 1,767 sqft
2021-05-01 28 days 1,790 sqft
2021-06-01 26 days 1,814 sqft
2021-07-01 30 days 1,814 sqft
2021-08-01 29 days 1,819 sqft
2021-09-01 30 days 1,855 sqft
2021-10-01 34 days 1,840 sqft
2021-11-01 36 days 1,825 sqft
2021-12-01 41 days 1,794 sqft
2022-01-01 39 days 1,797 sqft
Seattle's median listing age (time on market) for 2022-01-01 was 39 days. This is -25% shorter than the same period one year ago.

Seattle's median square footage for active listings during the 2022-01-01 period was 1,797 sqft. One year prior, the average listing was 1,640 sqft.