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 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.