Seattle USDA Loans
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
5.03%
for the week of 2022-08-05, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-07-29) was
5.15% and
one month ago for the week of 2022-07-01, the
average rate was 5.29%.
The average rate one year ago was 3.17%.
For refis of the same type during the week of 2022-08-05, the average rate
was 5.14%.
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.
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. LouisDate | 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 |
2022-02-01 | $728,995 (12.6%) | $1,063,797 (10.7%) | 1.86 | 1,508 |
2022-03-01 | $754,975 (16.2%) | $1,082,187 (16.5%) | 1.86 | 1,842 |
2022-04-01 | $799,999 (19.5%) | $1,143,289 (21.4%) | 1.88 | 2,199 |
2022-05-01 | $833,500 (22.6%) | $1,177,312 (23.3%) | 1.86 | 4,023 |
2022-06-01 | $821,500 (19.6%) | $1,141,494 (20.0%) | 1.83 | 5,595 |
Seattle's median listing price comes in at 183% of the national average.
Seattle's average listing price for 2022-06-01 was $1,141,494, a difference of $190,240 (20.0%) versus the prior year and $-35,818 versus the prior month.
For the 2022-06-01 period, Seattle had 5,595 MLS listings, a difference of 1,572 listings (39%) versus the prior month and 2,217 listings (66%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Seattle (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 |
2022-02-01 | 23 days | 1,830 sqft |
2022-03-01 | 23 days | 1,885 sqft |
2022-04-01 | 21 days | 1,967 sqft |
2022-05-01 | 17 days | 2,064 sqft |
2022-06-01 | 22 days | 2,049 sqft |
Seattle's median square footage for active listings during the 2022-06-01 period was 2,049 sqft. One year prior, the average listing was 1,814 sqft.