Washington USDA Loan Rates, Closing Costs & Stats

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 93 lenders originated 531 USDA loans during 2022. The total origination value was $162,595,000, with an average USDA loan value of $306,205.

Washington USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Washington averaged 6.02% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

Washington's average USDA mortgage closing costs are $7,131.

The average rate for the prior week (2023-05-19) was 5.76% and one month ago for the week of 2023-04-21, the average rate was 5.57%.

The average rate one year ago was 4.59%.

For refis of the same type during the week of 2023-05-26, the average rate was 4.82%.

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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Washington level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
FIRST HOME MORTGAGE CORPORATION 52 4.28% $8,934
Integrity Home Mortgage Corp 29 4.75% $7,910
CBM Mortgage, Inc. 26 4.91% $8,114
MOVEMENT MORTGAGE, LLC 24 4.55% $9,246
Atlantic Coast Mortgage, LLC 21 4.72% $8,460
Towne Bank 19 3.91% $7,766
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 17 4.74% $8,501
UNITED WHOLESALE MORTGAGE, LLC 15 4.69% $8,590
NVR Mortgage Finance, Inc. 15 3.99% $12,236
EMBRACE HOME LOANS, INC. 13 4.43% $9,803
HOME POINT FINANCIAL CORPORATION 13 4.41% $8,369
CROSSCOUNTRY MORTGAGE, LLC 12 4.63% $10,251
BAY CAPITAL MORTGAGE CORPORATION 12 4.54% $7,463
PRIMELENDING, A PLAINSCAPITAL COMPANY 12 4.21% $9,420
INTERLINC MORTGAGE SERVICES, LLC 11 4.66% $5,635
Waterstone Mortgage Corporation 11 4.31% $9,331
Sierra Pacific Mortgage Company, Inc. 10 4.81% $8,610
DHI MORTGAGE COMPANY, LTD. 9 3.80% $8,378
PLANET HOME LENDING, LLC 8 4.09% $8,789
Prosperity Home Mortgage, LLC 8 4.37% $7,152
CALIBER HOME LOANS, INC. 8 4.08% $8,953
George Mason Mortgage, LLC 8 3.92% $9,991
CMG MORTGAGE, INC. 8 5.06% $7,664
MCLEAN MORTGAGE CORPORATION 7 4.41% $10,872
FINANCE OF AMERICA MORTGAGE LLC 7 5.14% $10,034
TIDEWATER MORTGAGE SERVICES, INC. 6 4.33% $13,583
PENNYMAC LOAN SERVICES, LLC 5 3.02% $8,422
Presidential Bank, FSB 5 3.60% $7,021
Alcova Mortgage LLC 5 5.35% $3,516
Vellum Mortgage, Inc. 5 4.28% $8,271
Paramount Residential Mortgage Group, Inc. 4 4.59% $12,384
HOMESIDE FINANCIAL, LLC 4 4.69% $9,273
First Heritage Mortgage, LLC 4 3.78% $7,898
HOMESPIRE MORTGAGE CORPORATION 4 4.25% $8,750
1ST PREFERENCE MORTGAGE CORP. 3 3.46% $9,005
CARDINAL FINANCIAL 3 5.96% $13,415
C & F Mortgage Corporation 3 3.88% $11,304
DIRECT MORTGAGE LOANS, LLC 3 5.13% $11,301
EQUITY RESOURCES, INC. 3 5.04% $9,216
GUARANTEED RATE, INC. 3 3.97% $8,561
INTERCOASTAL MORTGAGE COMPANY 3 4.37% $8,244
SECURITYNATIONAL MORTGAGE COMPANY 3 4.25% $7,405
SOUTHERN TRUST MORTGAGE, LLC 3 2.96% $10,136
The Freedom Bank of Virginia 3 3.29% $7,188
THE MORTGAGE LINK, INC. 3 4.71% $7,948
UNION HOME MORTGAGE CORP. 3 3.46% $7,368
LOANDEPOT.COM, LLC 2 3.38% $11,666
Atlantic Union Bank 2 5.19% $8,800
The Federal Savings Bank 2 5.25% $10,396
FIRST EQUITY MORTGAGE INCORPORATED 2 3.31% $9,958
ACADEMY MORTGAGE CORPORATION 2 5.06% $7,672
Sandy Spring Bank 2 4.63% $7,499
Plains Commerce Bank 2 4.38% $11,460
Ameris Bank 2 4.13% $10,719
Shore United Bank 2 3.13% $7,482
NFM, INC. 2 4.44% $8,957
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.81% $10,224
MIDLAND MORTGAGE CORPORATION 2 3.50% $6,241
Fulton Bank 2 3.19% $6,793
Hometown Lenders, Inc. 2 4.18% $11,631
First Option Mortgage, LLC 2 5.63% $13,483
First Guaranty Mortgage Corporation 2 3.88% $6,770
Cedar Point Federal Credit Union 1 3.75% $9,852
PNC Bank 1 6.25% $7,474
Carrington Mortgage Services, LLC 1 2.63% $7,312
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.25% $14,651
UNIVERSAL MORTGAGE & FINANCE, INC. 1 4.00% $16,852
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 3.13% $7,465
U.S. Bank 1 6.75% $8,868
Summit Mortgage Corporation 1 4.99% $7,593
TD Bank 1 5.00% $5,738
AMERICAN FINANCIAL RESOURCES, INC. 1 4.13% $7,145
APEX HOME LOANS, INC. 1 3.38% $9,377
TJC Mortgage, Inc. 1 2.88% $8,639
Truist 1 4.25% $9,470
Wells Fargo Bank 1 5.63% $1,868
GUILD MORTGAGE COMPANY 1 5.00% $8,986
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 4.25% $10,878
Ixonia Bank 1 5.13% $10,827
Member Options, LLC 1 5.99% $5,105
MID AMERICA MORTGAGE, INC. 1 4.63% $15,566
MILLENNIUM FINANCIAL GROUP, INC. 1 5.50% $7,466
MORIA DEVELOPMENT, INC. 1 4.63% $14,161
EMM LOANS LLC 1 2.88% $10,804
MY MORTGAGE, INC. 1 6.63% $12,118
Nations Lending Corporation 1 4.38% $15,331
NORWICH COMMERCIAL GROUP, INC. 1 4.75% $6,528
DAS Acquisition Company, LLC 1 7.00% $9,066
OCEANSIDE MORTGAGE COMPANY 1 4.00% $1,775
OVM FINANCIAL, INC. 1 3.50% $7,781
PANORAMA MORTGAGE GROUP, LLC 1 4.63% $9,783
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 3.25% $7,332
Citizens Bank 1 4.25% $7,814

The top Washington USDA lender as defined by loan originations is FIRST HOME MORTGAGE CORPORATION, with 52 USDA loans originated. Their average total fees are $8,934, which is $1,024 higher than the next largest lender, Integrity Home Mortgage Corp.

The lowest fee Washington USDA lenders (with over 10 loans originated) are INTERLINC MORTGAGE SERVICES, LLC ($5,635), BAY CAPITAL MORTGAGE CORPORATION ($7,463), Towne Bank ($7,766), Integrity Home Mortgage Corp ($7,910) and CBM Mortgage, Inc. ($8,114).

The lowest rate Washington USDA lenders (with over 10 loans originated) are Towne Bank (3.91%), NVR Mortgage Finance, Inc. (3.99%), PRIMELENDING, A PLAINSCAPITAL COMPANY (4.21%), FIRST HOME MORTGAGE CORPORATION (4.28%) and Waterstone Mortgage Corporation (4.31%).


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 $430,000 (1.9%) $635,018 (1.2%) 1.59 12,365
2018-02-01 $442,000 (2.3%) $648,208 (0.7%) 1.61 12,225
2018-03-01 $464,962 (3.8%) $663,656 (0.8%) 1.63 13,632
2018-04-01 $475,000 (3.3%) $674,708 (1.1%) 1.61 15,541
2018-05-01 $474,950 (2.1%) $675,536 (1.6%) 1.59 16,855
2018-06-01 $475,000 (1.6%) $672,832 (1.9%) 1.58 17,471
2018-07-01 $463,000 (0.7%) $655,034 (0.9%) 1.55 17,909
2018-08-01 $449,950 (0.3%) $636,202 (1.0%) 1.51 17,949
2018-09-01 $449,900 (0.0%) $632,295 (-0.5%) 1.51 18,591
2018-10-01 $449,900 (0.2%) $633,424 (-0.6%) 1.52 18,698
2018-11-01 $444,950 (1.2%) $632,549 (-0.1%) 1.51 17,512
2018-12-01 $434,900 (1.2%) $631,653 (0.2%) 1.50 14,345
2019-01-01 $432,450 (0.6%) $637,290 (0.4%) 1.49 12,155
2019-02-01 $446,825 (1.1%) $654,050 (0.9%) 1.51 11,841
2019-03-01 $459,000 (-1.3%) $660,813 (-0.4%) 1.53 12,956
2019-04-01 $478,571 (0.8%) $683,039 (1.2%) 1.52 14,068
2019-05-01 $487,000 (2.5%) $689,051 (2.0%) 1.52 15,308
2019-06-01 $485,000 (2.1%) $685,736 (1.9%) 1.52 15,948
2019-07-01 $475,000 (2.6%) $671,474 (2.5%) 1.49 15,790
2019-08-01 $475,900 (5.8%) $679,653 (6.8%) 1.49 15,598
2019-09-01 $487,450 (8.4%) $714,598 (13.0%) 1.54 13,298
2019-10-01 $476,450 (5.9%) $691,518 (9.2%) 1.54 15,261
2019-11-01 $474,990 (6.8%) $697,761 (10.3%) 1.56 13,862
2019-12-01 $469,900 (8.1%) $707,230 (12.0%) 1.57 10,993
2020-01-01 $466,497 (7.9%) $715,343 (12.3%) 1.56 9,526
2020-02-01 $480,762 (7.6%) $739,298 (13.0%) 1.57 9,272
2020-03-01 $501,495 (9.3%) $762,464 (15.4%) 1.57 9,919
2020-04-01 $499,900 (4.5%) $736,987 (7.9%) 1.57 10,557
2020-05-01 $509,000 (4.5%) $757,173 (9.9%) 1.55 10,599
2020-06-01 $527,450 (8.8%) $782,292 (14.1%) 1.55 9,952
2020-07-01 $527,450 (11.0%) $792,479 (18.0%) 1.53 9,132
2020-08-01 $525,000 (10.3%) $794,824 (17.0%) 1.50 8,810
2020-09-01 $516,750 (6.0%) $788,637 (10.4%) 1.48 9,236
2020-10-01 $499,990 (4.9%) $768,592 (11.2%) 1.43 9,644
2020-11-01 $499,900 (5.2%) $781,985 (12.1%) 1.46 9,133
2020-12-01 $495,995 (5.6%) $795,475 (12.5%) 1.48 7,601
2021-01-01 $485,000 (4.0%) $815,076 (13.9%) 1.45 6,446
2021-02-01 $489,450 (1.8%) $818,119 (10.7%) 1.42 5,880
2021-03-01 $492,500 (-1.8%) $795,604 (4.4%) 1.40 6,511
2021-04-01 $503,863 (0.8%) $794,140 (7.8%) 1.36 7,116
2021-05-01 $514,950 (1.2%) $787,685 (4.0%) 1.37 7,915
2021-06-01 $524,900 (-0.5%) $777,785 (-0.6%) 1.38 9,074
2021-07-01 $510,000 (-3.3%) $749,483 (-5.4%) 1.35 10,152
2021-08-01 $502,500 (-4.3%) $733,815 (-7.7%) 1.34 10,312
2021-09-01 $504,950 (-2.3%) $733,994 (-6.9%) 1.35 10,805
2021-10-01 $505,000 (1.0%) $736,563 (-4.2%) 1.35 10,442
2021-11-01 $501,122 (0.2%) $745,430 (-4.7%) 1.34 8,637
2021-12-01 $499,950 (0.8%) $763,623 (-4.0%) 1.35 6,569
2022-01-01 $500,000 (3.1%) $803,275 (-1.5%) 1.35 5,142
2022-02-01 $527,500 (7.8%) $827,054 (1.1%) 1.37 4,964
2022-03-01 $544,900 (10.6%) $828,810 (4.2%) 1.36 5,430
2022-04-01 $565,000 (12.1%) $821,759 (3.5%) 1.35 6,160
2022-05-01 $585,000 (13.6%) $833,915 (5.9%) 1.34 7,906
2022-06-01 $590,400 (12.5%) $820,025 (5.4%) 1.31 9,271
2022-07-01 $580,000 (13.7%) $801,306 (6.9%) 1.31 10,490
2022-08-01 $569,998 (13.4%) $785,204 (7.0%) 1.32 10,395
2022-09-01 $569,950 (12.9%) $785,220 (7.0%) 1.33 10,501
2022-10-01 $574,000 (13.7%) $794,600 (7.9%) 1.35 10,799
2022-11-01 $565,000 (12.8%) $800,319 (7.4%) 1.36 10,326
2022-12-01 $559,900 (12.0%) $814,004 (6.6%) 1.38 8,234
2023-01-01 $568,945 (13.8%) $843,282 (5.0%) 1.41 6,809
2023-02-01 $584,665 (10.8%) $880,416 (6.5%) 1.41 6,119
2023-03-01 $599,450 (10.0%) $908,292 (9.6%) 1.41 6,201
2023-04-01 $624,000 (10.4%) $937,432 (14.1%) 1.45 6,477
Washington's median listing price for 2023-04-01 was $624,000, a difference of $59,000 (10.4%) versus the prior year and $24,550 versus the prior month.

Washington's median listing price comes in at 145% of the national average.

Washington's average listing price for 2023-04-01 was $937,432, a difference of $115,673 (14.1%) versus the prior year and $29,140 versus the prior month.

For the 2023-04-01 period, Washington had 6,477 MLS listings, a difference of 276 listings (4%) versus the prior month and 317 listings (5%) 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 2,043 sqft
2018-02-01 53 days 2,083 sqft
2018-03-01 36 days 2,112 sqft
2018-04-01 33 days 2,121 sqft
2018-05-01 33 days 2,132 sqft
2018-06-01 39 days 2,253 sqft
2018-07-01 44 days 2,211 sqft
2018-08-01 47 days 2,171 sqft
2018-09-01 48 days 2,136 sqft
2018-10-01 47 days 2,110 sqft
2018-11-01 52 days 2,114 sqft
2018-12-01 64 days 2,132 sqft
2019-01-01 71 days 2,154 sqft
2019-02-01 56 days 2,195 sqft
2019-03-01 36 days 2,234 sqft
2019-04-01 30 days 2,312 sqft
2019-05-01 32 days 2,328 sqft
2019-06-01 38 days 2,340 sqft
2019-07-01 44 days 2,305 sqft
2019-08-01 57 days 2,353 sqft
2019-09-01 60 days 2,393 sqft
2019-10-01 45 days 2,248 sqft
2019-11-01 51 days 2,220 sqft
2019-12-01 65 days 2,200 sqft
2020-01-01 66 days 2,180 sqft
2020-02-01 39 days 2,208 sqft
2020-03-01 30 days 2,247 sqft
2020-04-01 36 days 2,214 sqft
2020-05-01 45 days 2,220 sqft
2020-06-01 38 days 2,206 sqft
2020-07-01 33 days 2,128 sqft
2020-08-01 30 days 2,035 sqft
2020-09-01 28 days 1,929 sqft
2020-10-01 36 days 1,845 sqft
2020-11-01 41 days 1,786 sqft
2020-12-01 48 days 1,742 sqft
2021-01-01 50 days 1,670 sqft
2021-02-01 38 days 1,606 sqft
2021-03-01 31 days 1,672 sqft
2021-04-01 29 days 1,739 sqft
2021-05-01 29 days 1,805 sqft
2021-06-01 29 days 1,819 sqft
2021-07-01 30 days 1,816 sqft
2021-08-01 33 days 1,817 sqft
2021-09-01 34 days 1,786 sqft
2021-10-01 35 days 1,754 sqft
2021-11-01 41 days 1,689 sqft
2021-12-01 48 days 1,666 sqft
2022-01-01 49 days 1,620 sqft
2022-02-01 33 days 1,677 sqft
2022-03-01 28 days 1,748 sqft
2022-04-01 27 days 1,844 sqft
2022-05-01 26 days 1,928 sqft
2022-06-01 28 days 1,963 sqft
2022-07-01 31 days 1,987 sqft
2022-08-01 37 days 1,968 sqft
2022-09-01 40 days 1,935 sqft
2022-10-01 37 days 1,956 sqft
2022-11-01 44 days 1,943 sqft
2022-12-01 56 days 1,912 sqft
2023-01-01 62 days 1,904 sqft
2023-02-01 43 days 1,921 sqft
2023-03-01 36 days 1,960 sqft
2023-04-01 33 days 2,029 sqft
Washington's median listing age (time on market) for 2023-04-01 was 33 days. This is 22% longer than the same period one year ago.

Washington's median square footage for active listings during the 2023-04-01 period was 2,029 sqft. One year prior, the average listing was 1,844 sqft.