Washington USDA Loans

Washington-Arlington-Alexandria, DC-VA-MD-WV

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.

Washington's 131 lenders originated 1,449 USDA loans during 2021. The total origination value was $427,335,000, with an average USDA loan value of $294,917.

Washington USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Washington averaged 6.17% for the week of 2022-09-23, compared to the national average (all USDA variants) of 6.08% for the same period.

The average rate for the prior week (2022-09-16) was 5.8% and one month ago for the week of 2022-08-19, the average rate was 5.39%.

The average rate one year ago was 2.82%.

For refis of the same type during the week of 2022-09-23, the average rate was 5.86%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Washington USDA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Washington level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FIRST HOME MORTGAGE CORPORATION 137 2.91% $7,640
CBM Mortgage, Inc. 63 2.89% $6,073
MOVEMENT MORTGAGE, LLC 57 2.83% $7,373
C & F Mortgage Corporation 57 2.84% $7,560
Integrity Home Mortgage Corp 56 2.99% $6,621
EMBRACE HOME LOANS, INC. 52 2.77% $6,164
Towne Bank 50 2.69% $6,637
BAY CAPITAL MORTGAGE CORPORATION 41 2.64% $6,521
First Heritage Mortgage, LLC 41 2.71% $7,871
George Mason Mortgage, LLC 40 2.69% $7,412
Waterstone Mortgage Corporation 38 2.66% $7,790
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 38 3.03% $7,664
CALIBER HOME LOANS, INC. 27 2.92% $7,295
PRIMELENDING, A PLAINSCAPITAL COMPANY 27 3.04% $6,995
Sierra Pacific Mortgage Company, Inc. 27 2.64% $7,036
HOME POINT FINANCIAL CORPORATION 26 2.67% $7,362
Presidential Bank, FSB 26 2.90% $6,991
NVR Mortgage Finance, Inc. 25 2.99% $10,400
Atlantic Coast Mortgage, LLC 24 2.81% $7,835
SOUTHERN TRUST MORTGAGE, LLC 23 2.83% $5,167
AMERICAN FINANCIAL NETWORK, INC. 23 3.03% $12,487
HOMESPIRE MORTGAGE CORPORATION 22 2.83% $6,623
Prosperity Home Mortgage, LLC 22 2.66% $7,030
UNION HOME MORTGAGE CORP. 18 2.69% $5,667
Paramount Residential Mortgage Group, Inc. 18 3.18% $7,965
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 17 2.84% $8,971
MCLEAN MORTGAGE CORPORATION 17 2.76% $7,318
DHI MORTGAGE COMPANY, LTD. 14 2.66% $6,920
PLANET HOME LENDING, LLC 14 2.79% $6,480
Alcova Mortgage LLC 13 3.06% $4,849
Ameris Bank 13 2.98% $8,806
DIRECT MORTGAGE LOANS, LLC 13 2.98% $8,212
FINANCE OF AMERICA MORTGAGE LLC 11 3.03% $6,072
PENNYMAC LOAN SERVICES, LLC 11 2.91% $6,454
RESIDENTIAL MORTGAGE SERVICES, INC. 11 2.82% $6,145
Vellum Mortgage, Inc. 9 2.92% $7,879
EQUITY RESOURCES, INC. 9 2.58% $6,640
SEVERN SAVINGS BANK, FSB DBA SEVERN BANK 9 2.64% $6,461
THRIVE MORTGAGE, LLC 8 2.75% $5,283
HOMESIDE FINANCIAL, LLC 8 3.05% $8,560
1ST PREFERENCE MORTGAGE CORP. 8 3.01% $8,928
The Federal Savings Bank 7 2.48% $5,513
Atlantic Union Bank 7 2.84% $6,525
CROSSCOUNTRY MORTGAGE, LLC 7 3.19% $7,822
SECURITYNATIONAL MORTGAGE COMPANY 7 3.21% $6,844
TIDEWATER MORTGAGE SERVICES, INC. 6 2.81% $7,701
NFM, INC. 6 3.35% $5,886
UNITED WHOLESALE MORTGAGE, LLC 6 2.81% $7,256
GUARANTEED RATE, INC. 6 2.69% $7,847
TJC Mortgage, Inc. 6 2.88% $6,769
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 2.95% $7,141
SUN WEST MORTGAGE COMPANY, INC. 5 2.38% $4,348
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.10% $8,205
CMG MORTGAGE, INC. 5 2.87% $7,797
WesBanco Bank, Inc. 5 2.93% $6,746
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 2.78% $8,001
INTERCOASTAL MORTGAGE COMPANY 4 2.69% $7,604
Summit Mortgage Corporation 4 3.13% $7,063
Truist 4 2.72% $6,978
Meridian Bank Corporation 4 2.50% $6,558
Hometown Equity Mortgage, LLC 4 3.13% $8,226
Carrington Mortgage Services, LLC 4 2.72% $6,288
GUILD MORTGAGE COMPANY 3 2.96% $5,703
Flagstar Bank, FSB 3 2.88% $7,796
JOHNSON MORTGAGE COMPANY, L.L.C. 3 2.83% $7,636
Blue Ridge Bank 3 3.21% $7,191
CELEBRITY HOME LOANS, LLC 3 2.71% $7,925
INTERLINC MORTGAGE SERVICES, LLC 3 3.12% $3,911
MIDLAND MORTGAGE CORPORATION 3 2.46% $6,072
FREEDOM MORTGAGE CORPORATION 3 2.83% $5,994
Wells Fargo Bank 3 2.92% $6,037
FIDELITY DIRECT MORTGAGE, LLC 3 3.25% $7,213
Plains Commerce Bank 3 2.75% $7,830
APEX HOME LOANS, INC. 3 2.75% $7,286
First Option Mortgage, LLC 3 3.25% $15,051
PLAZA HOME MORTGAGE, INC. 2 3.00% $6,190
MICHIGAN MUTUAL, INC. 2 2.94% $4,050
Capital City Home Loans, LLC 2 2.69% $7,870
ENVOY MORTGAGE, LTD 2 3.00% $10,912
Hometown Lenders, Inc. 2 2.81% $10,085
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.75% $4,225
STOCKTON MORTGAGE CORPORATION 2 2.63% $6,257
SWBC MORTGAGE CORPORATION 2 3.38% $4,210
LOANDEPOT.COM, LLC 2 3.06% $10,451
Manufacturers and Traders Trust Company 2 3.19% $5,884
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.81% $7,713
MLD MORTGAGE INC. 2 3.13% $6,336
FIRST EQUITY MORTGAGE INCORPORATED 2 2.81% $6,678
Capital Bank 2 2.44% $8,229
TOWNE MORTGAGE COMPANY 2 2.56% $7,343
HOMEAMERICAN MORTGAGE CORPORATION 2 2.56% $4,330
CORNERSTONE HOME LENDING, INC. 2 3.50% $6,022
NEWREZ LLC 2 2.69% $7,118
UNIVERSAL MORTGAGE & FINANCE, INC. 2 2.75% $10,421
BROKER SOLUTIONS, INC. 1 2.75% $6,292
First Guaranty Mortgage Corporation 1 2.75% $4,792
Evolve Bank & Trust 1 2.88% $17,415
EVERETT FINANCIAL, INC. 1 2.75% $6,074
Fulton Bank 1 2.88% $4,673
Equity Prime Mortgage LLC 1 3.50% $3,990
GUARANTY HOME MORTGAGE CORPORATION 1 3.25% $5,041
EMM LOANS LLC 1 2.88% $4,995
DAS Acquisition Company, LLC 1 2.75% $5,720
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 2.88% $8,210
JET HOMELOANS, LLC 1 3.13% $6,670
Keystone Funding, Inc. 1 2.88% $8,596
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 1 2.75% $7,990
LAKEVIEW LOAN SERVICING, LLC 1 2.75% $3,789
MASON MCDUFFIE MORTGAGE CORPORATION 1 2.75% $6,914
MILLENNIUM FINANCIAL GROUP, INC. 1 3.00% $7,366
MISSION MORTGAGE LLC 1 3.13% $7,172
MORTGAGE ACCESS CORP. 1 3.25% $7,399
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.75% $5,156
NORWICH COMMERCIAL GROUP, INC. 1 2.88% $11,729
CHURCHILL MORTGAGE CORPORATION 1 3.13% $6,960
FAMILY FIRST FUNDING LLC 1 3.13% $5,757
RANLIFE, INC. 1 3.13% $6,880
RELIANCE FIRST CAPITAL, LLC 1 2.88% $15,191
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.00% $6,324
Sandy Spring Bank 1 2.25% $12,609
Bank of England 1 3.88% $6,306
SOUTHPOINT FINANCIAL SERVICES, INC. 1 2.88% $5,825
T2 FINANCIAL LLC 1 3.00% $8,065
1ST FINANCIAL, INC. 1 2.75% $7,523
American Security Mortgage Corp. 1 3.00% $7,157
Acre Mortgage and Financial Inc 1 3.50% $20,246
U.S. Bank 1 2.99% $7,147
US MORTGAGE CORPORATION 1 3.25% $8,735
ACNB Bank 1 2.50% $5,328
Victorian Finance, LLC 1 3.50% $5,108
ACADEMY MORTGAGE CORPORATION 1 3.25% $6,761

The top Washington USDA lender as defined by loan originations is FIRST HOME MORTGAGE CORPORATION, with 137 USDA loans originated. Their average total fees are $7,640, which is $1,567 higher than the next largest lender, CBM Mortgage, Inc..

The lowest fee Washington USDA lenders (with over 10 loans originated) are Alcova Mortgage LLC ($4,849), SOUTHERN TRUST MORTGAGE, LLC ($5,167), UNION HOME MORTGAGE CORP. ($5,667), FINANCE OF AMERICA MORTGAGE LLC ($6,072) and CBM Mortgage, Inc. ($6,073).

The lowest rate Washington USDA lenders (with over 10 loans originated) are BAY CAPITAL MORTGAGE CORPORATION (2.64%), Sierra Pacific Mortgage Company, Inc. (2.64%), Prosperity Home Mortgage, LLC (2.66%), DHI MORTGAGE COMPANY, LTD. (2.66%) and Waterstone Mortgage Corporation (2.66%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Washington (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 $430,040 (1.8%) $642,544 (1.8%) 1.58 12,254
2018-02-01 $442,888 (2.4%) $657,015 (1.3%) 1.60 12,100
2018-03-01 $464,900 (3.4%) $670,536 (1.3%) 1.61 13,471
2018-04-01 $474,999 (2.2%) $680,805 (1.7%) 1.59 15,372
2018-05-01 $475,000 (1.3%) $681,457 (2.0%) 1.58 16,663
2018-06-01 $475,000 (1.3%) $677,481 (2.3%) 1.58 17,313
2018-07-01 $465,450 (1.2%) $660,538 (1.6%) 1.55 17,706
2018-08-01 $449,950 (0.1%) $640,743 (1.6%) 1.50 17,781
2018-09-01 $449,900 (0.0%) $638,911 (0.2%) 1.50 18,409
2018-10-01 $449,910 (0.2%) $640,352 (0.4%) 1.50 18,552
2018-11-01 $444,950 (0.6%) $636,335 (0.2%) 1.49 17,351
2018-12-01 $434,900 (1.1%) $634,693 (-0.2%) 1.49 14,141
2019-01-01 $432,450 (0.6%) $641,940 (-0.1%) 1.49 12,020
2019-02-01 $446,990 (0.9%) $657,373 (0.1%) 1.50 11,673
2019-03-01 $464,143 (-0.2%) $673,643 (0.5%) 1.51 12,591
2019-04-01 $481,000 (1.3%) $686,059 (0.8%) 1.51 13,712
2019-05-01 $489,450 (3.0%) $692,615 (1.6%) 1.51 15,046
2019-06-01 $489,508 (3.1%) $691,379 (2.1%) 1.51 15,663
2019-07-01 $475,000 (2.1%) $674,786 (2.2%) 1.48 15,548
2019-08-01 $475,000 (5.6%) $677,659 (5.8%) 1.49 15,128
2019-09-01 $475,495 (5.7%) $685,811 (7.3%) 1.51 14,800
2019-10-01 $479,900 (6.7%) $697,968 (9.0%) 1.53 14,918
2019-11-01 $475,970 (7.0%) $706,371 (11.0%) 1.54 13,694
2019-12-01 $471,857 (8.5%) $717,482 (13.0%) 1.57 10,721
2020-01-01 $469,900 (8.7%) $725,458 (13.0%) 1.57 9,317
2020-02-01 $485,000 (8.5%) $747,255 (13.7%) 1.57 8,939
2020-03-01 $504,950 (8.8%) $770,507 (14.4%) 1.58 9,609
2020-04-01 $499,950 (3.9%) $743,918 (8.4%) 1.56 10,407
2020-05-01 $510,000 (4.2%) $767,376 (10.8%) 1.55 10,307
2020-06-01 $529,958 (8.3%) $791,963 (14.6%) 1.55 9,747
2020-07-01 $529,945 (11.6%) $801,057 (18.7%) 1.52 8,964
2020-08-01 $525,000 (10.5%) $801,739 (18.3%) 1.50 8,596
2020-09-01 $519,250 (9.2%) $793,857 (15.8%) 1.48 9,008
2020-10-01 $502,000 (4.6%) $773,057 (10.8%) 1.43 9,458
2020-11-01 $499,900 (5.0%) $788,352 (11.6%) 1.43 8,941
2020-12-01 $497,200 (5.4%) $801,084 (11.7%) 1.46 7,443
2021-01-01 $489,000 (4.1%) $822,931 (13.4%) 1.44 6,271
2021-02-01 $489,950 (1.0%) $823,620 (10.2%) 1.41 5,733
2021-03-01 $494,900 (-2.0%) $802,716 (4.2%) 1.39 6,357
2021-04-01 $504,948 (1.0%) $798,711 (7.4%) 1.36 6,976
2021-05-01 $509,900 (0.0%) $786,632 (2.5%) 1.34 7,616
2021-06-01 $524,950 (-0.9%) $783,240 (-1.1%) 1.36 8,869
2021-07-01 $512,030 (-3.4%) $757,576 (-5.4%) 1.33 9,788
2021-08-01 $506,000 (-3.6%) $737,554 (-8.0%) 1.33 10,048
2021-09-01 $509,500 (-1.9%) $737,932 (-7.0%) 1.34 10,606
2021-10-01 $509,900 (1.6%) $740,625 (-4.2%) 1.34 10,234
2021-11-01 $505,000 (1.0%) $749,330 (-5.0%) 1.33 8,424
2021-12-01 $500,000 (0.6%) $767,792 (-4.2%) 1.33 6,400
2022-01-01 $500,000 (2.3%) $811,720 (-1.4%) 1.33 4,856
2022-02-01 $527,500 (7.7%) $832,769 (1.1%) 1.34 4,836
2022-03-01 $544,950 (10.1%) $835,985 (4.1%) 1.35 5,292
2022-04-01 $565,000 (11.9%) $826,921 (3.5%) 1.33 5,985
2022-05-01 $587,895 (15.3%) $839,075 (6.7%) 1.32 7,727
2022-06-01 $593,250 (13.0%) $824,484 (5.3%) 1.32 9,087
2022-07-01 $580,000 (13.3%) $805,889 (6.4%) 1.29 10,313
2022-08-01 $572,800 (13.2%) $788,403 (6.9%) 1.32 10,198
Washington's median listing price for 2022-08-01 was $572,800, a difference of $66,800 (13.2%) versus the prior year and $-7,200 versus the prior month.

Washington's median listing price comes in at 132% of the national average.

Washington's average listing price for 2022-08-01 was $788,403, a difference of $50,849 (6.9%) versus the prior year and $-17,486 versus the prior month.

For the 2022-08-01 period, Washington had 10,198 MLS listings, a difference of -115 listings (-1%) versus the prior month and 150 listings (1%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Washington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 71 days 2,120 sqft
2018-02-01 52 days 2,170 sqft
2018-03-01 36 days 2,181 sqft
2018-04-01 33 days 2,198 sqft
2018-05-01 32 days 2,200 sqft
2018-06-01 39 days 2,246 sqft
2018-07-01 44 days 2,201 sqft
2018-08-01 46 days 2,163 sqft
2018-09-01 47 days 2,130 sqft
2018-10-01 47 days 2,105 sqft
2018-11-01 51 days 2,112 sqft
2018-12-01 63 days 2,134 sqft
2019-01-01 71 days 2,155 sqft
2019-02-01 55 days 2,195 sqft
2019-03-01 35 days 2,260 sqft
2019-04-01 30 days 2,317 sqft
2019-05-01 32 days 2,331 sqft
2019-06-01 37 days 2,358 sqft
2019-07-01 43 days 2,310 sqft
2019-08-01 45 days 2,304 sqft
2019-09-01 45 days 2,294 sqft
2019-10-01 43 days 2,257 sqft
2019-11-01 50 days 2,228 sqft
2019-12-01 63 days 2,202 sqft
2020-01-01 65 days 2,188 sqft
2020-02-01 39 days 2,212 sqft
2020-03-01 29 days 2,250 sqft
2020-04-01 35 days 2,216 sqft
2020-05-01 44 days 2,224 sqft
2020-06-01 37 days 2,211 sqft
2020-07-01 33 days 2,134 sqft
2020-08-01 30 days 2,040 sqft
2020-09-01 28 days 1,928 sqft
2020-10-01 36 days 1,840 sqft
2020-11-01 41 days 1,781 sqft
2020-12-01 48 days 1,738 sqft
2021-01-01 50 days 1,664 sqft
2021-02-01 40 days 1,600 sqft
2021-03-01 32 days 1,664 sqft
2021-04-01 30 days 1,731 sqft
2021-05-01 30 days 1,800 sqft
2021-06-01 29 days 1,815 sqft
2021-07-01 31 days 1,815 sqft
2021-08-01 33 days 1,816 sqft
2021-09-01 35 days 1,786 sqft
2021-10-01 35 days 1,752 sqft
2021-11-01 41 days 1,686 sqft
2021-12-01 48 days 1,663 sqft
2022-01-01 51 days 1,610 sqft
2022-02-01 34 days 1,671 sqft
2022-03-01 28 days 1,746 sqft
2022-04-01 28 days 1,840 sqft
2022-05-01 27 days 1,926 sqft
2022-06-01 28 days 1,960 sqft
2022-07-01 31 days 1,988 sqft
2022-08-01 36 days 1,973 sqft
Washington's median listing age (time on market) for 2022-08-01 was 36 days. This is 8% longer than the same period one year ago.

Washington's median square footage for active listings during the 2022-08-01 period was 1,973 sqft. One year prior, the average listing was 1,816 sqft.