Washington USDA Loan Rates, Closing Costs & Stats

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 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.