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 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 6.47% for the week of 2023-12-08, compared to the national average (all USDA variants) of 6.821% for the same period.

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

The average rate for the prior week (2023-12-01) was 6.32% and one month ago for the week of 2023-11-03, the average rate was 6.97%.

The average rate one year ago was 5.86%.

For refis of the same type during the week of 2023-12-08, the average rate was 5.06%.

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 .