Seattle USDA Loan Rates, Closing Costs & Stats

Seattle-Tacoma-Bellevue, WA

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    • 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 18 lenders originated 38 USDA loans during 2022. The total origination value was $16,550,000, with an average USDA loan value of $435,526.

    Seattle USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Seattle averaged 5.88% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

    Seattle's average USDA mortgage closing costs are $9,001.

    The average rate for the prior week (2023-05-19) was 6.13% and one month ago for the week of 2023-04-21, the average rate was 5.63%.

    The average rate one year ago was 4.95%.

    For refis of the same type during the week of 2023-05-26, the average rate was 4.97%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    CALIBER HOME LOANS, INC. 7 4.45% $11,374
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 4.87% $12,918
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 4.88% $18,970
    UNITED WHOLESALE MORTGAGE, LLC 3 4.52% $10,767
    LOANDEPOT.COM, LLC 3 4.04% $10,222
    CORNERSTONE HOME LENDING, INC. 2 4.31% $19,585
    EAGLE HOME MORTGAGE, LLC 2 3.25% $17,007
    HOME POINT FINANCIAL CORPORATION 2 2.75% $12,238
    CITYWIDE HOME LOANS, LLC 1 5.63% $22,043
    FINANCE OF AMERICA MORTGAGE LLC 1 5.50% $12,449
    GUILD MORTGAGE COMPANY 1 4.13% $22,317
    DIRECTORS MORTGAGE, INC. 1 3.75% $8,045
    INSPIRE HOME LOANS INC. 1 5.50% $14,407
    LEADERONE FINANCIAL CORPORATION 1 5.63% $18,817
    Banner Bank 1 4.38% $12,641
    Paramount Residential Mortgage Group, Inc. 1 3.25% $8,699
    Umpqua Bank 1 3.25% $8,313
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 4.38% $13,552

    The top Seattle USDA lender as defined by loan originations is CALIBER HOME LOANS, INC., with 7 USDA loans originated. Their average total fees are $11,374, which is $1,544 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Seattle USDA lenders (with over 10 loans originated) are .

    The lowest rate Seattle USDA lenders (with over 10 loans originated) are .

    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 $550,970 (13.0%) $794,971 (6.7%) 1.85 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%) 2.01 5,429
    2019-03-01 $599,990 (9.1%) $875,207 (2.3%) 2.00 5,713
    2019-04-01 $627,450 (12.1%) $902,630 (4.9%) 1.99 5,935
    2019-05-01 $623,714 (9.1%) $881,335 (2.4%) 1.95 7,098
    2019-06-01 $614,950 (7.0%) $859,290 (0.2%) 1.92 7,807
    2019-07-01 $599,995 (6.0%) $850,226 (3.2%) 1.88 7,784
    2019-08-01 $605,364 (9.9%) $872,789 (9.8%) 1.90 7,745
    2019-09-01 $599,975 (9.1%) $873,107 (11.3%) 1.89 7,143
    2019-10-01 $587,000 (6.2%) $829,504 (6.1%) 1.89 8,333
    2019-11-01 $579,000 (5.3%) $833,915 (6.7%) 1.90 6,740
    2019-12-01 $579,963 (5.5%) $846,325 (7.2%) 1.93 4,769
    2020-01-01 $587,500 (4.5%) $867,078 (6.1%) 1.96 3,867
    2020-02-01 $599,900 (1.0%) $889,450 (3.5%) 1.96 3,791
    2020-03-01 $606,735 (1.1%) $882,182 (0.8%) 1.90 4,300
    2020-04-01 $599,950 (-4.4%) $851,056 (-5.7%) 1.88 4,889
    2020-05-01 $608,000 (-2.5%) $859,906 (-2.4%) 1.85 5,649
    2020-06-01 $621,498 (1.1%) $887,354 (3.3%) 1.83 5,729
    2020-07-01 $627,000 (4.5%) $896,012 (5.4%) 1.82 5,735
    2020-08-01 $625,000 (3.2%) $885,121 (1.4%) 1.79 5,959
    2020-09-01 $624,999 (4.2%) $885,251 (1.4%) 1.79 6,059
    2020-10-01 $619,990 (5.6%) $890,134 (7.3%) 1.78 5,838
    2020-11-01 $626,725 (8.2%) $922,318 (10.6%) 1.83 4,129
    2020-12-01 $624,975 (7.8%) $930,668 (10.0%) 1.86 3,092
    2021-01-01 $638,000 (8.6%) $958,591 (10.6%) 1.90 2,424
    2021-02-01 $648,625 (8.1%) $953,315 (7.2%) 1.89 2,219
    2021-03-01 $652,500 (7.5%) $924,093 (4.8%) 1.85 2,584
    2021-04-01 $669,975 (11.7%) $940,369 (10.5%) 1.81 2,763
    2021-05-01 $679,900 (11.8%) $946,099 (10.0%) 1.81 2,937
    2021-06-01 $683,725 (10.0%) $944,535 (6.4%) 1.80 3,425
    2021-07-01 $689,950 (10.0%) $943,656 (5.3%) 1.82 3,642
    2021-08-01 $674,975 (8.0%) $912,385 (3.1%) 1.80 3,753
    2021-09-01 $675,000 (8.0%) $918,555 (3.8%) 1.80 3,744
    2021-10-01 $675,000 (8.9%) $939,780 (5.6%) 1.80 3,324
    2021-11-01 $674,995 (7.7%) $947,598 (2.7%) 1.80 2,510
    2021-12-01 $662,500 (6.0%) $933,640 (0.3%) 1.79 1,659
    2022-01-01 $685,000 (7.4%) $1,001,556 (4.5%) 1.85 1,315
    2022-02-01 $722,450 (11.4%) $1,051,274 (10.3%) 1.88 1,539
    2022-03-01 $749,950 (14.9%) $1,076,048 (16.4%) 1.88 1,867
    2022-04-01 $799,925 (19.4%) $1,128,853 (20.0%) 1.91 2,207
    2022-05-01 $824,995 (21.3%) $1,162,007 (22.8%) 1.89 3,971
    2022-06-01 $802,495 (17.4%) $1,135,898 (20.3%) 1.79 5,457
    2022-07-01 $789,950 (14.5%) $1,083,456 (14.8%) 1.79 6,958
    2022-08-01 $774,975 (14.8%) $1,075,299 (17.9%) 1.79 6,964
    2022-09-01 $762,375 (12.9%) $1,078,768 (17.4%) 1.78 6,694
    2022-10-01 $750,000 (11.1%) $1,060,742 (12.9%) 1.76 6,701
    2022-11-01 $737,450 (9.3%) $1,057,119 (11.6%) 1.77 6,006
    2022-12-01 $725,000 (9.4%) $1,038,919 (11.3%) 1.79 4,558
    2023-01-01 $726,750 (6.1%) $1,041,817 (4.0%) 1.80 3,673
    2023-02-01 $749,950 (3.8%) $1,106,188 (5.2%) 1.81 3,115
    2023-03-01 $788,975 (5.2%) $1,177,753 (9.5%) 1.86 3,105
    2023-04-01 $825,000 (3.1%) $1,236,615 (9.6%) 1.92 3,164
    Seattle's median listing price for 2023-04-01 was $825,000, a difference of $25,075 (3.1%) versus the prior year and $36,025 versus the prior month.

    Seattle's median listing price comes in at 192% of the national average.

    Seattle's average listing price for 2023-04-01 was $1,236,615, a difference of $107,762 (9.6%) versus the prior year and $58,862 versus the prior month.

    For the 2023-04-01 period, Seattle had 3,164 MLS listings, a difference of 59 listings (2%) versus the prior month and 957 listings (43%) 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 2,183 sqft
    2018-02-01 27 days 2,178 sqft
    2018-03-01 22 days 2,171 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 2,104 sqft
    2018-09-01 36 days 2,040 sqft
    2018-10-01 38 days 2,035 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 38 days 2,140 sqft
    2019-04-01 25 days 2,164 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 51 days 2,150 sqft
    2019-09-01 52 days 2,117 sqft
    2019-10-01 44 days 2,049 sqft
    2019-11-01 51 days 2,020 sqft
    2019-12-01 63 days 2,045 sqft
    2020-01-01 68 days 2,052 sqft
    2020-02-01 33 days 2,066 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 2,009 sqft
    2020-08-01 31 days 1,920 sqft
    2020-09-01 34 days 1,841 sqft
    2020-10-01 36 days 1,778 sqft
    2020-11-01 42 days 1,713 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 1,774 sqft
    2021-05-01 22 days 1,800 sqft
    2021-06-01 20 days 1,820 sqft
    2021-07-01 24 days 1,828 sqft
    2021-08-01 26 days 1,825 sqft
    2021-09-01 29 days 1,856 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 1,792 sqft
    2022-02-01 17 days 1,819 sqft
    2022-03-01 18 days 1,887 sqft
    2022-04-01 17 days 1,963 sqft
    2022-05-01 16 days 2,068 sqft
    2022-06-01 22 days 2,050 sqft
    2022-07-01 28 days 2,040 sqft
    2022-08-01 34 days 2,027 sqft
    2022-09-01 40 days 2,011 sqft
    2022-10-01 39 days 1,970 sqft
    2022-11-01 46 days 1,954 sqft
    2022-12-01 60 days 1,960 sqft
    2023-01-01 66 days 1,952 sqft
    2023-02-01 45 days 1,989 sqft
    2023-03-01 33 days 2,055 sqft
    2023-04-01 31 days 2,030 sqft
    Seattle's median listing age (time on market) for 2023-04-01 was 31 days. This is 82% longer than the same period one year ago.

    Seattle's median square footage for active listings during the 2023-04-01 period was 2,030 sqft. One year prior, the average listing was 1,963 sqft.