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%.
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
.