Seattle USDA Loans

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 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%.

    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 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 $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 for 2022-06-01 was $821,500, a difference of $134,670 (19.6%) versus the prior year and $-12,000 versus the prior month.

    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. 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
    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 listing age (time on market) for 2022-06-01 was 22 days. This is -15% shorter than the same period one year ago.

    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.