Spokane USDA Loan Rates, Closing Costs & Stats
SPOKANE-SPOKANE VALLEY, 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.
Spokane's 4 lenders originated 5 USDA loans during 2023. The total origination value was $1,545,000, with an average USDA loan value of $309,000.
Spokane USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Spokane
averaged
6.6%
for the week of 2024-11-01, compared to the national average (all USDA variants) of
6.467% for the same period.
Spokane's average USDA mortgage closing costs are $6,534.
The average rate for the prior week (2024-10-25) was
6.43% and
one month ago for the week of 2024-09-27, the
average rate was 5.73%.
The average rate one year ago was 7.49%.
For refis of the same type during the week of 2024-11-01, the average rate
was 7.28%.
Spokane 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 Spokane level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
UNITED WHOLESALE MORTGAGE, LLC | 2 | 6.38% | $12,169 |
ACADEMY MORTGAGE CORPORATION | 1 | 6.25% | $9,739 |
ENVOY MORTGAGE, LTD | 1 | 6.63% | $10,842 |
Paramount Residential Mortgage Group, Inc. | 1 | 5.25% | $15,144 |
The top Spokane USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
2 USDA loans originated. Their average total fees are
$12,169, which is $2,430
higher than the next largest lender,
ACADEMY MORTGAGE CORPORATION.
The lowest fee Spokane USDA lenders (with over 10 loans originated) are
.
The lowest rate Spokane USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Spokane (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $285,000 (13.3%) | $356,589 (11.9%) | 1.06 | 1,074 |
2018-02-01 | $298,625 (13.8%) | $373,506 (13.9%) | 1.08 | 991 |
2018-03-01 | $309,900 (12.7%) | $381,101 (10.9%) | 1.09 | 980 |
2018-04-01 | $319,225 (12.0%) | $392,806 (12.5%) | 1.08 | 1,110 |
2018-05-01 | $319,070 (10.4%) | $395,916 (11.7%) | 1.07 | 1,260 |
2018-06-01 | $315,000 (9.2%) | $395,583 (11.1%) | 1.05 | 1,421 |
2018-07-01 | $317,500 (11.4%) | $399,258 (14.0%) | 1.06 | 1,543 |
2018-08-01 | $309,463 (12.5%) | $391,344 (14.6%) | 1.04 | 1,605 |
2018-09-01 | $300,000 (9.1%) | $388,146 (13.8%) | 1.01 | 1,633 |
2018-10-01 | $312,250 (14.6%) | $397,319 (16.3%) | 1.06 | 1,559 |
2018-11-01 | $319,500 (19.2%) | $403,049 (19.2%) | 1.08 | 1,342 |
2018-12-01 | $318,500 (15.8%) | $402,314 (15.3%) | 1.10 | 1,127 |
2019-01-01 | $327,995 (15.1%) | $415,262 (16.5%) | 1.13 | 950 |
2019-02-01 | $335,845 (12.5%) | $422,619 (13.2%) | 1.13 | 859 |
2019-03-01 | $341,043 (10.1%) | $427,846 (12.3%) | 1.12 | 892 |
2019-04-01 | $346,818 (8.6%) | $430,929 (9.7%) | 1.10 | 1,003 |
2019-05-01 | $349,985 (9.7%) | $426,538 (7.7%) | 1.09 | 1,170 |
2019-06-01 | $349,990 (11.1%) | $419,099 (5.9%) | 1.09 | 1,286 |
2019-07-01 | $344,850 (8.6%) | $407,997 (2.2%) | 1.08 | 1,469 |
2019-08-01 | $340,273 (10.0%) | $410,018 (4.8%) | 1.08 | 1,492 |
2019-09-01 | $340,682 (13.6%) | $415,422 (7.0%) | 1.09 | 1,473 |
2019-10-01 | $340,955 (9.2%) | $419,683 (5.6%) | 1.10 | 1,451 |
2019-11-01 | $345,000 (8.0%) | $422,492 (4.8%) | 1.13 | 1,256 |
2019-12-01 | $342,970 (7.7%) | $420,764 (4.6%) | 1.14 | 1,044 |
2020-01-01 | $342,498 (4.4%) | $419,674 (1.1%) | 1.14 | 813 |
2020-02-01 | $359,900 (7.2%) | $438,812 (3.8%) | 1.18 | 747 |
2020-03-01 | $379,924 (11.4%) | $448,389 (4.8%) | 1.19 | 795 |
2020-04-01 | $379,350 (9.4%) | $451,379 (4.8%) | 1.19 | 932 |
2020-05-01 | $385,604 (10.2%) | $455,230 (6.7%) | 1.17 | 940 |
2020-06-01 | $384,975 (10.0%) | $450,694 (7.5%) | 1.13 | 938 |
2020-07-01 | $393,963 (14.2%) | $459,805 (12.7%) | 1.14 | 885 |
2020-08-01 | $388,073 (14.1%) | $464,389 (13.3%) | 1.11 | 858 |
2020-09-01 | $387,419 (13.7%) | $462,065 (11.2%) | 1.11 | 842 |
2020-10-01 | $376,156 (10.3%) | $462,780 (10.3%) | 1.08 | 751 |
2020-11-01 | $374,950 (8.7%) | $466,012 (10.3%) | 1.10 | 614 |
2020-12-01 | $369,849 (7.8%) | $470,358 (11.8%) | 1.10 | 464 |
2021-01-01 | $369,900 (8.0%) | $490,305 (16.8%) | 1.10 | 324 |
2021-02-01 | $378,155 (5.1%) | $512,838 (16.9%) | 1.10 | 286 |
2021-03-01 | $377,450 (-0.7%) | $508,198 (13.3%) | 1.07 | 323 |
2021-04-01 | $399,900 (5.4%) | $529,689 (17.4%) | 1.08 | 331 |
2021-05-01 | $413,000 (7.1%) | $530,315 (16.5%) | 1.10 | 395 |
2021-06-01 | $422,450 (9.7%) | $569,547 (26.4%) | 1.11 | 514 |
2021-07-01 | $439,995 (11.7%) | $570,861 (24.2%) | 1.16 | 647 |
2021-08-01 | $454,400 (17.1%) | $567,544 (22.2%) | 1.21 | 728 |
2021-09-01 | $450,000 (16.2%) | $565,649 (22.4%) | 1.20 | 850 |
2021-10-01 | $450,000 (19.6%) | $551,467 (19.2%) | 1.20 | 839 |
2021-11-01 | $449,975 (20.0%) | $557,558 (19.6%) | 1.20 | 627 |
2021-12-01 | $459,725 (24.3%) | $576,341 (22.5%) | 1.25 | 479 |
2022-01-01 | $480,825 (30.0%) | $617,610 (26.0%) | 1.30 | 328 |
2022-02-01 | $480,480 (27.1%) | $631,296 (23.1%) | 1.25 | 306 |
2022-03-01 | $479,995 (27.2%) | $633,895 (24.7%) | 1.20 | 333 |
2022-04-01 | $500,000 (25.0%) | $642,876 (21.4%) | 1.19 | 440 |
2022-05-01 | $509,625 (23.4%) | $635,058 (19.8%) | 1.17 | 719 |
2022-06-01 | $517,450 (22.5%) | $642,778 (12.9%) | 1.15 | 955 |
2022-07-01 | $499,000 (13.4%) | $607,213 (6.4%) | 1.12 | 1,276 |
2022-08-01 | $489,951 (7.8%) | $594,388 (4.7%) | 1.13 | 1,375 |
2022-09-01 | $476,125 (5.8%) | $579,690 (2.5%) | 1.11 | 1,376 |
2022-10-01 | $469,900 (4.4%) | $571,775 (3.7%) | 1.11 | 1,355 |
2022-11-01 | $449,935 (0.0%) | $554,276 (-0.6%) | 1.08 | 1,219 |
2022-12-01 | $449,063 (-2.3%) | $545,089 (-5.4%) | 1.11 | 967 |
2023-01-01 | $449,475 (-6.5%) | $548,403 (-11.2%) | 1.11 | 763 |
2023-02-01 | $480,500 (0.0%) | $577,914 (-8.5%) | 1.16 | 683 |
2023-03-01 | $497,725 (3.7%) | $591,639 (-6.7%) | 1.17 | 677 |
2023-04-01 | $512,500 (2.5%) | $604,916 (-5.9%) | 1.19 | 780 |
2023-05-01 | $524,924 (3.0%) | $622,699 (-2.0%) | 1.19 | 941 |
2023-06-01 | $532,488 (2.9%) | $633,820 (-1.4%) | 1.20 | 1,136 |
2023-07-01 | $535,000 (7.2%) | $629,217 (3.6%) | 1.22 | 1,336 |
2023-08-01 | $525,000 (7.2%) | $620,451 (4.4%) | 1.21 | 1,402 |
2023-09-01 | $514,000 (8.0%) | $618,592 (6.7%) | 1.20 | 1,457 |
2023-10-01 | $499,575 (6.3%) | $605,209 (5.9%) | 1.18 | 1,447 |
2023-11-01 | $497,000 (10.5%) | $598,163 (7.9%) | 1.18 | 1,323 |
2023-12-01 | $490,000 (9.1%) | $603,323 (10.7%) | 1.20 | 1,113 |
2024-01-01 | $498,120 (10.8%) | $612,666 (11.7%) | 1.22 | 915 |
2024-02-01 | $503,985 (4.9%) | $617,954 (6.9%) | 1.21 | 875 |
2024-03-01 | $510,000 (2.5%) | $620,133 (4.8%) | 1.20 | 915 |
2024-04-01 | $522,500 (2.0%) | $647,977 (7.1%) | 1.22 | 1,078 |
2024-05-01 | $544,450 (3.7%) | $662,479 (6.4%) | 1.23 | 1,341 |
2024-06-01 | $530,000 (-0.5%) | $650,286 (2.6%) | 1.19 | 1,579 |
2024-07-01 | $525,000 (-1.9%) | $633,632 (0.7%) | 1.20 | 1,747 |
2024-08-01 | $515,000 (-1.9%) | $624,397 (0.6%) | 1.20 | 1,767 |
2024-09-01 | $505,000 (-1.8%) | $623,689 (0.8%) | 1.19 | 1,791 |
2024-10-01 | $497,125 (-0.5%) | $615,083 (1.6%) | 0.00 | 1,792 |
Spokane's median listing price comes in at 0% of the national average.
Spokane's average listing price for 2024-10-01 was $615,083, a difference of $9,874 (1.6%) versus the prior year and $-8,606 versus the prior month.
For the 2024-10-01 period, Spokane had 1,792 MLS listings, a difference of 1 listings (0%) versus the prior month and 345 listings (24%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Spokane (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 69 days | 2,262 sqft |
2018-02-01 | 47 days | 2,315 sqft |
2018-03-01 | 44 days | 2,356 sqft |
2018-04-01 | 36 days | 2,364 sqft |
2018-05-01 | 33 days | 2,401 sqft |
2018-06-01 | 36 days | 2,360 sqft |
2018-07-01 | 39 days | 2,390 sqft |
2018-08-01 | 41 days | 2,353 sqft |
2018-09-01 | 44 days | 2,352 sqft |
2018-10-01 | 46 days | 2,320 sqft |
2018-11-01 | 53 days | 2,329 sqft |
2018-12-01 | 66 days | 2,316 sqft |
2019-01-01 | 66 days | 2,353 sqft |
2019-02-01 | 49 days | 2,351 sqft |
2019-03-01 | 41 days | 2,363 sqft |
2019-04-01 | 30 days | 2,349 sqft |
2019-05-01 | 32 days | 2,380 sqft |
2019-06-01 | 35 days | 2,434 sqft |
2019-07-01 | 37 days | 2,401 sqft |
2019-08-01 | 38 days | 2,391 sqft |
2019-09-01 | 39 days | 2,373 sqft |
2019-10-01 | 41 days | 2,359 sqft |
2019-11-01 | 47 days | 2,275 sqft |
2019-12-01 | 62 days | 2,225 sqft |
2020-01-01 | 69 days | 2,194 sqft |
2020-02-01 | 53 days | 2,241 sqft |
2020-03-01 | 40 days | 2,315 sqft |
2020-04-01 | 40 days | 2,324 sqft |
2020-05-01 | 43 days | 2,321 sqft |
2020-06-01 | 39 days | 2,319 sqft |
2020-07-01 | 39 days | 2,342 sqft |
2020-08-01 | 39 days | 2,308 sqft |
2020-09-01 | 43 days | 2,307 sqft |
2020-10-01 | 47 days | 2,264 sqft |
2020-11-01 | 52 days | 2,215 sqft |
2020-12-01 | 57 days | 2,152 sqft |
2021-01-01 | 52 days | 2,114 sqft |
2021-02-01 | 40 days | 2,091 sqft |
2021-03-01 | 30 days | 2,151 sqft |
2021-04-01 | 25 days | 2,150 sqft |
2021-05-01 | 27 days | 2,161 sqft |
2021-06-01 | 21 days | 2,218 sqft |
2021-07-01 | 26 days | 2,211 sqft |
2021-08-01 | 29 days | 2,209 sqft |
2021-09-01 | 31 days | 2,254 sqft |
2021-10-01 | 35 days | 2,219 sqft |
2021-11-01 | 50 days | 2,144 sqft |
2021-12-01 | 72 days | 2,145 sqft |
2022-01-01 | 61 days | 2,041 sqft |
2022-02-01 | 33 days | 2,022 sqft |
2022-03-01 | 25 days | 2,038 sqft |
2022-04-01 | 22 days | 2,165 sqft |
2022-05-01 | 20 days | 2,220 sqft |
2022-06-01 | 22 days | 2,217 sqft |
2022-07-01 | 28 days | 2,190 sqft |
2022-08-01 | 32 days | 2,193 sqft |
2022-09-01 | 39 days | 2,178 sqft |
2022-10-01 | 39 days | 2,158 sqft |
2022-11-01 | 44 days | 2,131 sqft |
2022-12-01 | 57 days | 2,120 sqft |
2023-01-01 | 52 days | 2,102 sqft |
2023-02-01 | 43 days | 2,123 sqft |
2023-03-01 | 37 days | 2,167 sqft |
2023-04-01 | 30 days | 2,193 sqft |
2023-05-01 | 29 days | 2,251 sqft |
2023-06-01 | 30 days | 2,303 sqft |
2023-07-01 | 35 days | 2,312 sqft |
2023-08-01 | 37 days | 2,318 sqft |
2023-09-01 | 41 days | 2,304 sqft |
2023-10-01 | 39 days | 2,276 sqft |
2023-11-01 | 47 days | 2,255 sqft |
2023-12-01 | 57 days | 2,258 sqft |
2024-01-01 | 46 days | 2,247 sqft |
2024-02-01 | 39 days | 2,210 sqft |
2024-03-01 | 39 days | 2,211 sqft |
2024-04-01 | 31 days | 2,240 sqft |
2024-05-01 | 26 days | 2,309 sqft |
2024-06-01 | 30 days | 2,326 sqft |
2024-07-01 | 38 days | 2,301 sqft |
2024-08-01 | 44 days | 2,287 sqft |
2024-09-01 | 43 days | 2,264 sqft |
2024-10-01 | 0 days | 2,245 sqft |
Spokane's median square footage for active listings during the 2024-10-01 period was 2,245 sqft. One year prior, the average listing was 2,276 sqft.