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 12 lenders originated 15 USDA loans during 2023. The total origination value was $7,035,000, with an average USDA loan value of $469,000.

Seattle USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Seattle averaged 6.35% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

Seattle's average USDA mortgage closing costs are $9,127.

The average rate for the prior week (2024-05-31) was 6.63% and one month ago for the week of 2024-05-03, the average rate was 6.73%.

The average rate one year ago was 6.33%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.59%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
MOVEMENT MORTGAGE, LLC 3 6.21% $19,022
GUILD MORTGAGE COMPANY 2 6.00% $19,958
CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $15,436
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.00% $9,735
GUARANTEED RATE, INC. 1 7.25% $19,144
MUTUAL OF OMAHA MORTGAGE, INC. 1 4.75% $15,282
NEWREZ LLC 1 4.99% $15,996
PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.63% $11,843
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $18,439
BROKER SOLUTIONS, INC. 1 5.25% $27,164
UNITED WHOLESALE MORTGAGE, LLC 1 5.75% $12,166
CALIBER HOME LOANS, INC. 1 5.75% $9,431

The top Seattle USDA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 3 USDA loans originated. Their average total fees are $19,022, which is $936 lower than the next largest lender, GUILD MORTGAGE COMPANY.

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 $494,914 (13.3%) $817,526 (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 $560,350 (13.0%) $860,602 (10.6%) 1.90 3,915
2018-05-01 $571,700 (14.5%) $860,476 (9.9%) 1.91 4,775
2018-06-01 $575,000 (15.0%) $858,054 (10.4%) 1.92 5,926
2018-07-01 $565,925 (13.3%) $823,717 (7.1%) 1.89 7,217
2018-08-01 $551,484 (13.1%) $794,999 (6.7%) 1.85 8,156
2018-09-01 $549,950 (12.5%) $784,270 (4.7%) 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%) $817,163 (0.0%) 1.94 5,558
2019-02-01 $593,998 (13.7%) $859,546 (2.7%) 2.01 5,429
2019-03-01 $608,711 (10.7%) $873,950 (2.1%) 1.99 5,655
2019-04-01 $627,445 (12.0%) $899,002 (4.5%) 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 (0.1%) 1.92 7,807
2019-07-01 $599,995 (6.0%) $850,226 (3.2%) 1.88 7,784
2019-08-01 $595,836 (8.0%) $841,704 (5.9%) 1.89 8,177
2019-09-01 $589,741 (7.2%) $834,131 (6.4%) 1.89 8,311
2019-10-01 $585,677 (6.0%) $829,082 (6.0%) 1.89 8,319
2019-11-01 $579,000 (5.3%) $833,943 (6.7%) 1.90 6,739
2019-12-01 $579,950 (5.5%) $846,363 (7.2%) 1.93 4,768
2020-01-01 $587,500 (4.5%) $867,130 (6.1%) 1.96 3,866
2020-02-01 $599,900 (1.0%) $889,510 (3.5%) 1.96 3,790
2020-03-01 $606,495 (-0.4%) $882,234 (1.0%) 1.90 4,299
2020-04-01 $599,950 (-4.4%) $851,077 (-5.3%) 1.88 4,888
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%) $896,058 (5.4%) 1.82 5,735
2020-08-01 $625,000 (4.9%) $885,121 (5.2%) 1.79 5,959
2020-09-01 $624,999 (6.0%) $885,251 (6.1%) 1.79 6,059
2020-10-01 $619,990 (5.9%) $890,134 (7.4%) 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%) $953,436 (7.2%) 1.89 2,219
2021-03-01 $652,500 (7.6%) $924,093 (4.7%) 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%) $944,575 (6.5%) 1.80 3,424
2021-07-01 $689,950 (10.0%) $943,656 (5.3%) 1.82 3,641
2021-08-01 $674,975 (8.0%) $912,385 (3.1%) 1.80 3,753
2021-09-01 $675,000 (8.0%) $918,542 (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%) $947,493 (2.7%) 1.80 2,510
2021-12-01 $662,500 (6.0%) $933,507 (0.3%) 1.79 1,660
2022-01-01 $685,000 (7.4%) $1,001,387 (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%) $1,075,930 (16.4%) 1.88 1,867
2022-04-01 $799,950 (19.4%) $1,128,806 (20.0%) 1.91 2,207
2022-05-01 $824,995 (21.3%) $1,161,979 (22.8%) 1.89 3,971
2022-06-01 $802,495 (17.4%) $1,135,816 (20.3%) 1.79 5,457
2022-07-01 $789,950 (14.5%) $1,083,308 (14.8%) 1.78 6,954
2022-08-01 $774,950 (14.8%) $1,075,090 (17.8%) 1.79 6,961
2022-09-01 $762,485 (13.0%) $1,078,846 (17.5%) 1.78 6,694
2022-10-01 $750,000 (11.1%) $1,060,491 (12.8%) 1.76 6,701
2022-11-01 $737,450 (9.3%) $1,056,940 (11.6%) 1.77 6,006
2022-12-01 $725,000 (9.4%) $1,038,754 (11.3%) 1.79 4,559
2023-01-01 $727,000 (6.1%) $1,042,070 (4.1%) 1.80 3,674
2023-02-01 $749,950 (3.8%) $1,105,889 (5.2%) 1.81 3,116
2023-03-01 $789,225 (5.2%) $1,177,299 (9.4%) 1.86 3,106
2023-04-01 $825,000 (3.1%) $1,236,224 (9.5%) 1.92 3,165
2023-05-01 $822,500 (-0.3%) $1,235,201 (6.3%) 1.87 3,543
2023-06-01 $824,500 (2.7%) $1,225,756 (7.9%) 1.85 4,090
2023-07-01 $815,000 (3.2%) $1,242,311 (14.7%) 1.85 4,267
2023-08-01 $799,475 (3.2%) $1,226,323 (14.1%) 1.84 4,504
2023-09-01 $799,000 (4.8%) $1,215,186 (12.6%) 1.86 4,774
2023-10-01 $792,250 (5.6%) $1,179,771 (11.3%) 1.86 4,808
2023-11-01 $752,413 (2.0%) $1,110,443 (5.1%) 1.79 5,293
2023-12-01 $749,000 (3.3%) $1,088,306 (4.8%) 1.83 4,177
2024-01-01 $749,495 (3.1%) $1,122,633 (7.7%) 1.83 3,319
2024-02-01 $765,000 (2.0%) $1,155,569 (4.5%) 1.84 3,294
2024-03-01 $767,875 (-2.7%) $1,150,459 (-2.3%) 1.81 3,737
2024-04-01 $774,973 (-6.1%) $1,152,313 (-6.8%) 1.80 4,349
2024-05-01 $777,450 (-5.5%) $1,167,244 (-5.5%) 1.76 5,740
Seattle's median listing price for 2024-05-01 was $777,450, a difference of $-45,050 (-5.5%) versus the prior year and $2,477 versus the prior month.

Seattle's median listing price comes in at 176% of the national average.

Seattle's average listing price for 2024-05-01 was $1,167,244, a difference of $-67,957 (-5.5%) versus the prior year and $14,931 versus the prior month.

For the 2024-05-01 period, Seattle had 5,740 MLS listings, a difference of 1,391 listings (32%) versus the prior month and 2,197 listings (62%) 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 43 days 2,184 sqft
2018-02-01 26 days 2,179 sqft
2018-03-01 22 days 2,172 sqft
2018-04-01 22 days 2,153 sqft
2018-05-01 19 days 2,180 sqft
2018-06-01 22 days 2,180 sqft
2018-07-01 29 days 2,136 sqft
2018-08-01 30 days 2,104 sqft
2018-09-01 36 days 2,041 sqft
2018-10-01 38 days 2,036 sqft
2018-11-01 45 days 2,018 sqft
2018-12-01 59 days 2,040 sqft
2019-01-01 63 days 2,085 sqft
2019-02-01 42 days 2,141 sqft
2019-03-01 33 days 2,137 sqft
2019-04-01 24 days 2,160 sqft
2019-05-01 28 days 2,117 sqft
2019-06-01 31 days 2,110 sqft
2019-07-01 37 days 2,110 sqft
2019-08-01 39 days 2,084 sqft
2019-09-01 41 days 2,059 sqft
2019-10-01 43 days 2,045 sqft
2019-11-01 50 days 2,020 sqft
2019-12-01 61 days 2,044 sqft
2020-01-01 65 days 2,052 sqft
2020-02-01 31 days 2,065 sqft
2020-03-01 23 days 2,089 sqft
2020-04-01 31 days 2,078 sqft
2020-05-01 35 days 2,054 sqft
2020-06-01 31 days 2,036 sqft
2020-07-01 30 days 2,010 sqft
2020-08-01 30 days 1,920 sqft
2020-09-01 33 days 1,840 sqft
2020-10-01 35 days 1,773 sqft
2020-11-01 41 days 1,708 sqft
2020-12-01 48 days 1,686 sqft
2021-01-01 43 days 1,660 sqft
2021-02-01 29 days 1,678 sqft
2021-03-01 23 days 1,748 sqft
2021-04-01 23 days 1,773 sqft
2021-05-01 20 days 1,800 sqft
2021-06-01 20 days 1,820 sqft
2021-07-01 23 days 1,824 sqft
2021-08-01 26 days 1,825 sqft
2021-09-01 29 days 1,856 sqft
2021-10-01 33 days 1,846 sqft
2021-11-01 35 days 1,825 sqft
2021-12-01 39 days 1,794 sqft
2022-01-01 37 days 1,793 sqft
2022-02-01 16 days 1,820 sqft
2022-03-01 17 days 1,888 sqft
2022-04-01 16 days 1,964 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 2,026 sqft
2022-09-01 39 days 2,010 sqft
2022-10-01 39 days 1,970 sqft
2022-11-01 45 days 1,953 sqft
2022-12-01 59 days 1,960 sqft
2023-01-01 65 days 1,950 sqft
2023-02-01 43 days 1,980 sqft
2023-03-01 32 days 2,050 sqft
2023-04-01 31 days 2,030 sqft
2023-05-01 29 days 2,037 sqft
2023-06-01 29 days 2,037 sqft
2023-07-01 33 days 2,040 sqft
2023-08-01 33 days 2,003 sqft
2023-09-01 37 days 1,989 sqft
2023-10-01 38 days 1,960 sqft
2023-11-01 45 days 1,913 sqft
2023-12-01 57 days 1,888 sqft
2024-01-01 59 days 1,845 sqft
2024-02-01 32 days 1,841 sqft
2024-03-01 29 days 1,860 sqft
2024-04-01 29 days 1,860 sqft
2024-05-01 21 days 1,896 sqft
Seattle's median listing age (time on market) for 2024-05-01 was 21 days. This is -29% shorter than the same period one year ago.

Seattle's median square footage for active listings during the 2024-05-01 period was 1,896 sqft. One year prior, the average listing was 2,037 sqft.