Seattle USDA Loan Rates, Closing Costs & Stats

Seattle-Tacoma-Bellevue, 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 42 lenders originated 268 USDA loans during 2021. The total origination value was $130,710,000, with an average USDA loan value of $487,724.

Seattle USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Seattle averaged 0.14% for the week of 2022-11-25, compared to the national average (all USDA variants) of 0% for the same period.

Seattle's average USDA mortgage closing costs are $8,799.

The average rate for the prior week (2022-11-18) was 6.59% and one month ago for the week of 2022-10-21, the average rate was 6.7%.

The average rate one year ago was 3.24%.

For refis of the same type during the week of 2022-11-25, the average rate was -0.05%.

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/closing costs 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. Closing Costs
LOANDEPOT.COM, LLC 33 3.17% $9,231
AMERICAN PACIFIC MORTGAGE CORPORATION 22 2.82% $10,001
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 18 3.07% $12,133
CALIBER HOME LOANS, INC. 11 2.68% $9,408
PREMIER MORTGAGE RESOURCES, L.L.C. 9 2.99% $8,966
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 3.16% $10,792
CROSSCOUNTRY MORTGAGE, LLC 6 3.12% $10,710
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 2.91% $9,759
UNITED WHOLESALE MORTGAGE, LLC 4 2.58% $14,701
PENNYMAC LOAN SERVICES, LLC 4 2.78% $7,159
NEWREZ LLC 4 2.69% $6,303
LEADERONE FINANCIAL CORPORATION 4 2.81% $7,569
GUILD MORTGAGE COMPANY 4 2.84% $7,939
CORNERSTONE HOME LENDING, INC. 3 2.96% $9,839
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 2.63% $8,694
1st Security Bank of Washington 3 2.79% $9,582
First Home Bank 3 2.79% $9,543
HOME POINT FINANCIAL CORPORATION 3 2.58% $9,663
MOVEMENT MORTGAGE, LLC 3 3.04% $9,474
Victorian Finance, LLC 3 2.75% $8,149
TOP FLITE FINANCIAL, INC. 2 2.75% $8,848
AMERICAN FINANCIAL NETWORK, INC. 2 3.00% $14,230
GENEVA FINANCIAL, LLC 2 3.25% $9,531
Paramount Residential Mortgage Group, Inc. 2 3.00% $7,894
EAGLE HOME MORTGAGE, LLC 2 2.75% $7,379
CMG MORTGAGE, INC. 1 3.38% $12,221
LENDUS, LLC 1 2.25% $4,060
CITYWIDE HOME LOANS, LLC 1 3.38% $16,085
MANN FINANCIAL INC. 1 2.75% $8,037
MORTGAGE MASTER SERVICE CORPORATION 1 2.75% $4,834
V.I.P. MORTGAGE, INC. 1 2.63% $10,692
DAS Acquisition Company, LLC 1 2.50% $4,931
Carrington Mortgage Services, LLC 1 2.63% $13,902
BAY EQUITY LLC 1 2.88% $18,137
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.25% $11,218
RANLIFE, INC. 1 3.00% $7,871
GUARANTEED RATE, INC. 1 2.88% $8,803
CELEBRITY HOME LOANS, LLC 1 2.25% $18,767
Wallick & Volk, Inc. 1 3.00% $9,152
HomeStreet Bank 1 3.00% $9,422
INTERCAP LENDING INC. 1 3.13% $9,213
LAKEVIEW LOAN SERVICING, LLC 1 3.50% $2,825

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 $770 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), CALIBER HOME LOANS, INC. ($9,408), AMERICAN PACIFIC MORTGAGE CORPORATION ($10,001), EVERGREEN MONEYSOURCE MORTGAGE COMPANY ($12,133) and .

The lowest rate Seattle USDA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. (2.68%), AMERICAN PACIFIC MORTGAGE CORPORATION (2.82%), EVERGREEN MONEYSOURCE MORTGAGE COMPANY (3.07%), LOANDEPOT.COM, LLC (3.17%) and .


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 $494,878 (13.3%) $817,476 (17.5%) 1.83 2,935
2018-02-01 $522,475 (13.7%) $837,160 (12.5%) 1.90 2,977
2018-03-01 $550,000 (14.9%) $855,943 (13.2%) 1.93 3,291
2018-04-01 $559,975 (12.9%) $860,533 (10.6%) 1.90 3,916
2018-05-01 $571,500 (14.4%) $860,439 (9.9%) 1.91 4,776
2018-06-01 $575,000 (15.0%) $858,001 (10.4%) 1.92 5,926
2018-07-01 $565,925 (13.3%) $823,717 (7.1%) 1.89 7,217
2018-08-01 $550,971 (13.0%) $794,974 (6.7%) 1.84 8,156
2018-09-01 $549,950 (12.5%) $784,270 (4.8%) 1.85 9,206
2018-10-01 $552,500 (12.8%) $782,006 (3.0%) 1.87 9,384
2018-11-01 $549,998 (11.7%) $781,745 (0.8%) 1.86 8,294
2018-12-01 $550,000 (11.1%) $789,581 (-0.7%) 1.90 6,850
2019-01-01 $562,475 (13.7%) $817,211 (0.0%) 1.94 5,558
2019-02-01 $593,745 (13.6%) $859,510 (2.7%) 2.00 5,429
2019-03-01 $608,423 (10.6%) $873,910 (2.1%) 1.99 5,655
2019-04-01 $627,450 (12.1%) $899,040 (4.5%) 1.99 5,935
2019-05-01 $623,714 (9.1%) $881,336 (2.4%) 1.95 7,098
2019-06-01 $614,950 (7.0%) $859,290 (0.2%) 1.92 7,808
2019-07-01 $599,995 (6.0%) $850,205 (3.2%) 1.88 7,785
2019-08-01 $595,836 (8.1%) $841,677 (5.9%) 1.89 8,178
2019-09-01 $589,741 (7.2%) $834,128 (6.4%) 1.89 8,311
2019-10-01 $585,677 (6.0%) $829,095 (6.0%) 1.89 8,319
2019-11-01 $579,000 (5.3%) $833,861 (6.7%) 1.90 6,741
2019-12-01 $579,950 (5.5%) $846,246 (7.2%) 1.93 4,770
2020-01-01 $587,500 (4.5%) $866,985 (6.1%) 1.96 3,868
2020-02-01 $599,900 (1.0%) $889,351 (3.5%) 1.96 3,792
2020-03-01 $606,495 (-0.3%) $882,093 (0.9%) 1.90 4,301
2020-04-01 $599,950 (-4.4%) $850,981 (-5.4%) 1.88 4,890
2020-05-01 $607,300 (-2.6%) $859,836 (-2.4%) 1.85 5,650
2020-06-01 $621,495 (1.1%) $887,285 (3.3%) 1.83 5,730
2020-07-01 $627,000 (4.5%) $895,943 (5.4%) 1.82 5,736
2020-08-01 $625,000 (4.9%) $885,058 (5.2%) 1.79 5,960
2020-09-01 $624,998 (6.0%) $885,190 (6.1%) 1.79 6,060
2020-10-01 $619,990 (5.9%) $890,063 (7.4%) 1.78 5,839
2020-11-01 $626,475 (8.2%) $922,227 (10.6%) 1.83 4,130
2020-12-01 $624,975 (7.8%) $930,546 (10.0%) 1.86 3,093
2021-01-01 $636,500 (8.3%) $958,413 (10.6%) 1.90 2,425
2021-02-01 $648,500 (8.1%) $953,127 (7.2%) 1.89 2,220
2021-03-01 $652,500 (7.6%) $923,949 (4.8%) 1.85 2,585
2021-04-01 $669,963 (11.7%) $940,235 (10.5%) 1.81 2,764
2021-05-01 $679,700 (11.9%) $945,967 (10.0%) 1.80 2,938
2021-06-01 $682,500 (9.8%) $944,464 (6.4%) 1.80 3,425
2021-07-01 $689,950 (10.0%) $943,488 (5.3%) 1.82 3,641
2021-08-01 $674,975 (8.0%) $912,251 (3.1%) 1.80 3,751
2021-09-01 $675,000 (8.0%) $918,559 (3.8%) 1.80 3,744
2021-10-01 $675,000 (8.9%) $939,515 (5.6%) 1.80 3,323
2021-11-01 $674,995 (7.7%) $947,503 (2.7%) 1.80 2,510
2021-12-01 $662,500 (6.0%) $933,523 (0.3%) 1.80 1,659
2022-01-01 $685,000 (7.6%) $1,001,255 (4.5%) 1.85 1,316
2022-02-01 $722,450 (11.4%) $1,051,000 (10.3%) 1.88 1,540
2022-03-01 $749,950 (14.9%) $1,075,895 (16.5%) 1.88 1,868
2022-04-01 $799,900 (19.4%) $1,128,637 (20.0%) 1.91 2,208
2022-05-01 $824,985 (21.4%) $1,161,901 (22.8%) 1.89 3,972
2022-06-01 $802,248 (17.6%) $1,135,792 (20.3%) 1.79 5,458
2022-07-01 $789,950 (14.5%) $1,083,574 (14.9%) 1.79 6,959
2022-08-01 $774,975 (14.8%) $1,075,489 (17.9%) 1.79 6,960
2022-09-01 $762,450 (13.0%) $1,078,900 (17.5%) 1.78 6,691
2022-10-01 $750,000 (11.1%) $1,060,904 (12.9%) 1.76 6,697
Seattle's median listing price for 2022-10-01 was $750,000, a difference of $75,000 (11.1%) versus the prior year and $-12,450 versus the prior month.

Seattle's median listing price comes in at 176% of the national average.

Seattle's average listing price for 2022-10-01 was $1,060,904, a difference of $121,389 (12.9%) versus the prior year and $-17,996 versus the prior month.

For the 2022-10-01 period, Seattle had 6,697 MLS listings, a difference of 6 listings (0%) versus the prior month and 3,374 listings (102%) 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 2,184 sqft
2018-02-01 27 days 2,179 sqft
2018-03-01 22 days 2,172 sqft
2018-04-01 23 days 2,153 sqft
2018-05-01 19 days 2,180 sqft
2018-06-01 23 days 2,180 sqft
2018-07-01 29 days 2,136 sqft
2018-08-01 31 days 2,105 sqft
2018-09-01 36 days 2,041 sqft
2018-10-01 38 days 2,036 sqft
2018-11-01 46 days 2,018 sqft
2018-12-01 60 days 2,040 sqft
2019-01-01 65 days 2,085 sqft
2019-02-01 44 days 2,142 sqft
2019-03-01 33 days 2,137 sqft
2019-04-01 25 days 2,160 sqft
2019-05-01 28 days 2,118 sqft
2019-06-01 32 days 2,110 sqft
2019-07-01 37 days 2,110 sqft
2019-08-01 39 days 2,084 sqft
2019-09-01 41 days 2,059 sqft
2019-10-01 44 days 2,045 sqft
2019-11-01 51 days 2,020 sqft
2019-12-01 63 days 2,043 sqft
2020-01-01 68 days 2,051 sqft
2020-02-01 33 days 2,065 sqft
2020-03-01 24 days 2,089 sqft
2020-04-01 31 days 2,077 sqft
2020-05-01 36 days 2,054 sqft
2020-06-01 33 days 2,038 sqft
2020-07-01 31 days 2,010 sqft
2020-08-01 31 days 1,920 sqft
2020-09-01 34 days 1,840 sqft
2020-10-01 36 days 1,776 sqft
2020-11-01 42 days 1,712 sqft
2020-12-01 50 days 1,689 sqft
2021-01-01 44 days 1,664 sqft
2021-02-01 31 days 1,680 sqft
2021-03-01 24 days 1,748 sqft
2021-04-01 24 days 1,773 sqft
2021-05-01 22 days 1,800 sqft
2021-06-01 20 days 1,819 sqft
2021-07-01 24 days 1,824 sqft
2021-08-01 27 days 1,825 sqft
2021-09-01 29 days 1,855 sqft
2021-10-01 33 days 1,845 sqft
2021-11-01 36 days 1,825 sqft
2021-12-01 40 days 1,793 sqft
2022-01-01 37 days 1,790 sqft
2022-02-01 17 days 1,818 sqft
2022-03-01 18 days 1,887 sqft
2022-04-01 17 days 1,963 sqft
2022-05-01 16 days 2,067 sqft
2022-06-01 22 days 2,050 sqft
2022-07-01 28 days 2,041 sqft
2022-08-01 34 days 2,030 sqft
2022-09-01 40 days 2,014 sqft
2022-10-01 39 days 1,974 sqft
Seattle's median listing age (time on market) for 2022-10-01 was 39 days. This is 18% longer than the same period one year ago.

Seattle's median square footage for active listings during the 2022-10-01 period was 1,974 sqft. One year prior, the average listing was 1,845 sqft.