Cadillac FHA Loan Rates, Closing Costs & Stats
Cadillac, MI
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Cadillac's 32 lenders originated 121 FHA loans during 2023. The total origination value was $20,085,000, with an average FHA loan value of $165,992.
Cadillac FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Cadillac
averaged
0.13%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Cadillac's average FHA mortgage closing costs are $6,421.
The average rate for the prior week (2024-11-22) was
6.72% and
one month ago for the week of 2024-10-25, the
average rate was 6.3%.
The average rate one year ago was 7.39%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.2%.
Cadillac FHA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Cadillac level.
The top Cadillac FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
20 FHA loans originated. Their average total fees are
$8,790, which is $1,884
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Cadillac FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($8,790), .
The lowest rate Cadillac FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.52%), .
Cadillac FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
CADILLAC, MI | MISSAUKEE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CADILLAC, MI | WEXFORD | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CADILLAC, MI | MISSAUKEE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CADILLAC, MI | WEXFORD | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Cadillac (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 | $137,606 (14.3%) | $162,876 (9.1%) | 0.00 | 236 |
2018-02-01 | $143,900 (20.0%) | $169,208 (14.4%) | 0.00 | 221 |
2018-03-01 | $149,950 (17.9%) | $179,734 (17.4%) | 0.00 | 225 |
2018-04-01 | $148,325 (11.2%) | $177,081 (11.7%) | 0.00 | 230 |
2018-05-01 | $152,450 (9.2%) | $183,166 (11.7%) | 0.00 | 260 |
2018-06-01 | $160,000 (14.4%) | $186,966 (9.9%) | 0.00 | 289 |
2018-07-01 | $165,450 (18.8%) | $188,806 (10.8%) | 0.00 | 305 |
2018-08-01 | $165,950 (20.7%) | $188,413 (14.0%) | 0.00 | 299 |
2018-09-01 | $169,900 (22.0%) | $191,546 (14.5%) | 0.00 | 293 |
2018-10-01 | $169,950 (20.8%) | $194,086 (14.9%) | 0.00 | 266 |
2018-11-01 | $168,450 (20.9%) | $190,105 (14.8%) | 0.00 | 245 |
2018-12-01 | $154,900 (14.7%) | $185,582 (15.1%) | 0.00 | 216 |
2019-01-01 | $149,900 (8.9%) | $180,261 (10.7%) | 0.00 | 208 |
2019-02-01 | $146,725 (2.0%) | $174,655 (3.2%) | 0.00 | 202 |
2019-03-01 | $147,357 (-1.7%) | $173,827 (-3.3%) | 0.00 | 200 |
2019-04-01 | $145,207 (-2.1%) | $174,168 (-1.7%) | 0.00 | 205 |
2019-05-01 | $151,500 (-0.6%) | $182,296 (-0.5%) | 0.00 | 247 |
2019-06-01 | $169,000 (5.6%) | $197,768 (5.8%) | 0.00 | 267 |
2019-07-01 | $163,700 (-1.1%) | $195,774 (3.7%) | 0.00 | 301 |
2019-08-01 | $159,041 (-4.2%) | $192,849 (2.4%) | 0.00 | 310 |
2019-09-01 | $157,752 (-7.2%) | $191,420 (-0.1%) | 0.00 | 308 |
2019-10-01 | $167,868 (-1.2%) | $199,537 (2.8%) | 0.00 | 271 |
2019-11-01 | $171,200 (1.6%) | $204,014 (7.3%) | 0.00 | 232 |
2019-12-01 | $164,925 (6.5%) | $197,608 (6.5%) | 0.00 | 205 |
2020-01-01 | $169,425 (13.0%) | $196,215 (8.9%) | 0.00 | 176 |
2020-02-01 | $189,900 (29.4%) | $216,043 (23.7%) | 0.00 | 157 |
2020-03-01 | $187,450 (27.2%) | $211,828 (21.9%) | 0.00 | 147 |
2020-04-01 | $184,925 (27.4%) | $214,760 (23.3%) | 0.00 | 142 |
2020-05-01 | $192,900 (27.3%) | $215,363 (18.1%) | 0.00 | 151 |
2020-06-01 | $178,650 (5.7%) | $208,467 (5.4%) | 0.00 | 138 |
2020-07-01 | $174,925 (6.9%) | $206,811 (5.6%) | 0.00 | 120 |
2020-08-01 | $179,900 (13.1%) | $213,289 (10.6%) | 0.00 | 106 |
2020-09-01 | $179,900 (14.0%) | $222,852 (16.4%) | 0.00 | 88 |
2020-10-01 | $174,950 (4.2%) | $208,542 (4.5%) | 0.00 | 79 |
2020-11-01 | $164,000 (-4.2%) | $194,503 (-4.7%) | 0.00 | 69 |
2020-12-01 | $163,650 (-0.8%) | $183,826 (-7.0%) | 0.00 | 60 |
2021-01-01 | $159,000 (-6.2%) | $182,410 (-7.0%) | 0.00 | 53 |
2021-02-01 | $144,950 (-23.7%) | $197,510 (-8.6%) | 0.00 | 42 |
2021-03-01 | $178,450 (-4.8%) | $220,463 (4.1%) | 0.00 | 38 |
2021-04-01 | $180,950 (-2.2%) | $227,790 (6.1%) | 0.00 | 39 |
2021-05-01 | $187,450 (-2.8%) | $233,611 (8.5%) | 0.00 | 42 |
2021-06-01 | $183,675 (2.8%) | $242,244 (16.2%) | 0.00 | 49 |
2021-07-01 | $162,450 (-7.1%) | $230,796 (11.6%) | 0.00 | 64 |
2021-08-01 | $169,450 (-5.8%) | $232,407 (9.0%) | 0.00 | 72 |
2021-09-01 | $191,975 (6.7%) | $247,485 (11.1%) | 0.00 | 77 |
2021-10-01 | $197,200 (12.7%) | $248,481 (19.2%) | 0.00 | 85 |
2021-11-01 | $200,950 (22.5%) | $230,294 (18.4%) | 0.00 | 76 |
2021-12-01 | $203,900 (24.6%) | $234,161 (27.4%) | 0.00 | 68 |
2022-01-01 | $182,175 (14.6%) | $229,406 (25.8%) | 0.00 | 62 |
2022-02-01 | $166,200 (14.7%) | $210,630 (6.6%) | 0.00 | 47 |
2022-03-01 | $163,675 (-8.3%) | $196,658 (-10.8%) | 0.00 | 47 |
2022-04-01 | $172,450 (-4.7%) | $218,774 (-4.0%) | 0.00 | 42 |
2022-05-01 | $195,725 (4.4%) | $247,625 (6.0%) | 0.00 | 56 |
2022-06-01 | $232,400 (26.5%) | $272,871 (12.6%) | 0.00 | 60 |
2022-07-01 | $249,900 (53.8%) | $270,268 (17.1%) | 0.00 | 86 |
2022-08-01 | $228,825 (35.0%) | $253,721 (9.2%) | 0.00 | 115 |
2022-09-01 | $212,449 (10.7%) | $250,644 (1.3%) | 0.00 | 115 |
2022-10-01 | $199,500 (1.2%) | $238,083 (-4.2%) | 0.00 | 101 |
2022-11-01 | $183,650 (-8.6%) | $227,456 (-1.2%) | 0.00 | 96 |
2022-12-01 | $182,250 (-10.6%) | $252,666 (7.9%) | 0.00 | 82 |
2023-01-01 | $188,450 (3.4%) | $259,150 (13.0%) | 0.00 | 64 |
2023-02-01 | $191,175 (15.0%) | $255,491 (21.3%) | 0.00 | 57 |
2023-03-01 | $235,000 (43.6%) | $271,512 (38.1%) | 0.00 | 56 |
2023-04-01 | $267,500 (55.1%) | $288,083 (31.7%) | 0.00 | 59 |
2023-05-01 | $291,950 (49.2%) | $333,456 (34.7%) | 0.00 | 66 |
2023-06-01 | $286,150 (23.1%) | $323,574 (18.6%) | 0.00 | 81 |
2023-07-01 | $262,450 (5.0%) | $310,675 (15.0%) | 0.00 | 85 |
2023-08-01 | $264,250 (15.5%) | $304,673 (20.1%) | 0.00 | 97 |
2023-09-01 | $237,000 (11.6%) | $308,251 (23.0%) | 0.00 | 104 |
2023-10-01 | $244,850 (22.7%) | $294,984 (23.9%) | 0.00 | 103 |
2023-11-01 | $249,950 (36.1%) | $296,084 (30.2%) | 0.00 | 96 |
2023-12-01 | $225,000 (23.5%) | $291,030 (15.2%) | 0.00 | 89 |
2024-01-01 | $227,425 (20.7%) | $285,565 (10.2%) | 0.00 | 81 |
2024-02-01 | $217,400 (13.7%) | $273,560 (7.1%) | 0.00 | 69 |
2024-03-01 | $249,950 (6.4%) | $279,392 (2.9%) | 0.00 | 72 |
2024-04-01 | $261,175 (-2.4%) | $295,630 (2.6%) | 0.00 | 73 |
2024-05-01 | $278,450 (-4.6%) | $328,182 (-1.6%) | 0.00 | 85 |
2024-06-01 | $299,950 (4.8%) | $344,171 (6.4%) | 0.00 | 113 |
2024-07-01 | $284,975 (8.6%) | $324,825 (4.6%) | 0.00 | 134 |
2024-08-01 | $299,900 (13.5%) | $325,709 (6.9%) | 0.00 | 144 |
2024-09-01 | $269,975 (13.9%) | $318,544 (3.3%) | 0.00 | 140 |
2024-10-01 | $264,975 (8.2%) | $301,776 (2.3%) | 0.00 | 144 |
Cadillac's median listing price comes in at 0% of the national average.
Cadillac's average listing price for 2024-10-01 was $301,776, a difference of $6,792 (2.3%) versus the prior year and $-16,768 versus the prior month.
For the 2024-10-01 period, Cadillac had 144 MLS listings, a difference of 4 listings (3%) versus the prior month and 41 listings (40%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Cadillac (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,587 sqft |
2018-02-01 | 0 days | 1,600 sqft |
2018-03-01 | 0 days | 1,661 sqft |
2018-04-01 | 0 days | 1,649 sqft |
2018-05-01 | 0 days | 1,649 sqft |
2018-06-01 | 0 days | 1,700 sqft |
2018-07-01 | 0 days | 1,749 sqft |
2018-08-01 | 0 days | 1,727 sqft |
2018-09-01 | 0 days | 1,744 sqft |
2018-10-01 | 0 days | 1,774 sqft |
2018-11-01 | 0 days | 1,735 sqft |
2018-12-01 | 0 days | 1,620 sqft |
2019-01-01 | 0 days | 1,621 sqft |
2019-02-01 | 0 days | 1,612 sqft |
2019-03-01 | 0 days | 1,621 sqft |
2019-04-01 | 0 days | 1,593 sqft |
2019-05-01 | 0 days | 1,575 sqft |
2019-06-01 | 0 days | 1,620 sqft |
2019-07-01 | 0 days | 1,746 sqft |
2019-08-01 | 0 days | 1,719 sqft |
2019-09-01 | 0 days | 1,674 sqft |
2019-10-01 | 0 days | 1,695 sqft |
2019-11-01 | 0 days | 1,800 sqft |
2019-12-01 | 0 days | 1,700 sqft |
2020-01-01 | 0 days | 1,637 sqft |
2020-02-01 | 0 days | 1,620 sqft |
2020-03-01 | 0 days | 1,618 sqft |
2020-04-01 | 0 days | 1,645 sqft |
2020-05-01 | 0 days | 1,732 sqft |
2020-06-01 | 0 days | 1,708 sqft |
2020-07-01 | 0 days | 1,608 sqft |
2020-08-01 | 0 days | 1,800 sqft |
2020-09-01 | 0 days | 1,800 sqft |
2020-10-01 | 0 days | 1,713 sqft |
2020-11-01 | 0 days | 1,621 sqft |
2020-12-01 | 0 days | 1,621 sqft |
2021-01-01 | 0 days | 1,514 sqft |
2021-02-01 | 0 days | 1,513 sqft |
2021-03-01 | 0 days | 1,557 sqft |
2021-04-01 | 0 days | 1,687 sqft |
2021-05-01 | 0 days | 1,607 sqft |
2021-06-01 | 0 days | 1,509 sqft |
2021-07-01 | 0 days | 1,456 sqft |
2021-08-01 | 0 days | 1,448 sqft |
2021-09-01 | 0 days | 1,562 sqft |
2021-10-01 | 0 days | 1,573 sqft |
2021-11-01 | 0 days | 1,608 sqft |
2021-12-01 | 0 days | 1,602 sqft |
2022-01-01 | 0 days | 1,565 sqft |
2022-02-01 | 0 days | 1,436 sqft |
2022-03-01 | 0 days | 1,421 sqft |
2022-04-01 | 0 days | 1,410 sqft |
2022-05-01 | 0 days | 1,449 sqft |
2022-06-01 | 0 days | 1,555 sqft |
2022-07-01 | 0 days | 1,686 sqft |
2022-08-01 | 0 days | 1,668 sqft |
2022-09-01 | 0 days | 1,600 sqft |
2022-10-01 | 0 days | 1,574 sqft |
2022-11-01 | 0 days | 1,509 sqft |
2022-12-01 | 0 days | 1,500 sqft |
2023-01-01 | 0 days | 1,558 sqft |
2023-02-01 | 0 days | 1,500 sqft |
2023-03-01 | 0 days | 1,552 sqft |
2023-04-01 | 0 days | 1,523 sqft |
2023-05-01 | 0 days | 1,600 sqft |
2023-06-01 | 0 days | 1,600 sqft |
2023-07-01 | 0 days | 1,504 sqft |
2023-08-01 | 0 days | 1,469 sqft |
2023-09-01 | 0 days | 1,568 sqft |
2023-10-01 | 0 days | 1,585 sqft |
2023-11-01 | 0 days | 1,569 sqft |
2023-12-01 | 0 days | 1,510 sqft |
2024-01-01 | 0 days | 1,433 sqft |
2024-02-01 | 0 days | 1,336 sqft |
2024-03-01 | 0 days | 1,372 sqft |
2024-04-01 | 0 days | 1,412 sqft |
2024-05-01 | 0 days | 1,638 sqft |
2024-06-01 | 0 days | 1,720 sqft |
2024-07-01 | 0 days | 1,648 sqft |
2024-08-01 | 0 days | 1,707 sqft |
2024-09-01 | 0 days | 1,613 sqft |
2024-10-01 | 0 days | 1,596 sqft |
Cadillac's median square footage for active listings during the 2024-10-01 period was 1,596 sqft. One year prior, the average listing was 1,585 sqft.