Washington USDA Loans

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

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    • 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.